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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-C
REPORT BY ISSUER OF SECURITIES QUOTED ON NASDAQ INTER-DEALER
QUOTATION SYSTEM FILED PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934 AND RULE 13A-17 OR 15D-17
THEREUNDER.
SI DIAMOND TECHNOLOGY, INC.
(Exact Name of Issuer as Specified in Charter)
2435 North Boulevard
Houston, Texas 77098
(Address of Principal Executive Offices)
(713) 529-9040
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(Issuer's telephone number, including area code)
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I. CHANGE IN NUMBER OF SHARES OUTSTANDING
Indicate any change (increase or decrease) of five percent or more in the number
of shares outstanding:
1. Title of security: COMMON STOCK, PAR VALUE $.001 PER SHARE
2. Number of shares outstanding before the change: 10,854,235
3. Number of shares outstanding after the change: 11,758,942
4. Effective date of change: MAY 24, 1996
5. Method of change:
As of May 24, 1996, 327 shares of the Company's Series E Convertible
Preferred Stock ("Series E Preferred") had been converted into 852,063
shares of Common Stock. The conversions began on May 14, 1996, and as of
June 3, 1996 a total of 367 shares of Series E Preferred had been converted
into 904,707 shares of Common Stock.
Each share of Series E Preferred is convertible into that number of
shares of Common Stock determined by dividing (i) the original issue price
of the Series E Preferred plus an amount equal to 8% of the issue price per
annum from the date of escrow agent first had in its possession the funds
representing payment of the Series E Preferred to the conversion date by
(ii) the conversion price, which is the lesser of $6.575 or 85% of the
average closing bid price for the Company's Common Stock for the five
trading days immediately preceding the conversion date.
SIGNATURES
Pursuant to the Securities Exchange Act of 1934, the Registrant has duly
caused this Report to be signed on its behalf by the undersigned, thereunto duly
authorized.
SI DIAMOND TECHNOLOGY, INC.
Date: June 3, 1996 By: //s// Anthony N. Davies
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Anthony N. Davies
Controller and Principal
Accounting Officer
