<PAGE>
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3 OMB APPROVAL
-----------------------------
OMB NUMBER: 3235-0104
Expires: September 30, 1998
Estimated average burden
hours per response ...... 0.5
-----------------------------
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
- --------------------------------------------------------------------------------
1. Name and Address of Reporting Person*
MARTIN NICOLAS
- --------------------------------------------------------------------------------
(Last) (First) (Middle)
12100 TECHNOLOGY BLVD.
- --------------------------------------------------------------------------------
(Street)
AUSTIN, TX 78727
- --------------------------------------------------------------------------------
(City) (State) (Zip)
- --------------------------------------------------------------------------------
2. Date of Event Requiring Statement (Month/Day/Year)
11/15/97
- --------------------------------------------------------------------------------
3. IRS or Social Security Number of Reporting Person (Voluntary)
- --------------------------------------------------------------------------------
4. Issuer Name and Ticker or Trading Symbol
S.I. DIAMOND TECHNOLOGY, INC. (SIDT)
- --------------------------------------------------------------------------------
5. Relationship of Reporting Person to Issuer:
(Check all applicable)
X Director 10% Owner
----- ------
Officer (give Other (Specify
----- title below) ------ below)
----------------------------------
- --------------------------------------------------------------------------------
6. If Amendment, Date of Original (Month/Day/Year)
- --------------------------------------------------------------------------------
7. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
- ----
Form filed by More than One Reporting Person
- ----
- --------------------------------------------------------------------------------
Table 1 -- Non-Derivative Securities Beneficially Owned
<TABLE>
<CAPTION>
1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Name of Indirect Beneficial Ownership
(Instr. 4) Beneficially Owned Direct (D) or (Instr. 5)
(Instr. 4) Indirect (I)
(Instr. 5)
- -------------------------- --------------------------- ----------------- ------------------------------------------
<S> <C> <C> <C>
COMMON STOCK 70,000 D
- -------------------------- --------------------------- ----------------- ------------------------------------------
- -------------------------- --------------------------- ----------------- ------------------------------------------
- -------------------------- --------------------------- ----------------- ------------------------------------------
========================== =========================== ================= ==========================================
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (over)
The form is filed by more than one reporting person, see Instruction 5(b)(v). SEC 1473 (7-96)
</TABLE>
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
FORM 3 (continued)
<TABLE>
<CAPTION>
Table II -- Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
- ----------------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative Security 2. Date Exer- 3. Title and Amount of Securities 4. Conversion 5. Ownership 6. Nature of
(Instr. 4) cisable and Underlying Derivative Security or Exercise Form of Indirect
Expiration (Instr. 4) Price of Derivative Beneficial
Date Derivative Security: Ownership
(Month/Day/ Security Direct (D) (Instr. 5)
Year) or
------- ------- --------------------------------- Indirect (I)
Date Expira- Amount (Instr. 5)
Exer- tion or
cisable Date Title Number
of
Shares
- ------------------------------- ------- ------- ------------------------ ------ --------------- --------------- -------------
<S> <C> <C> <C> <C> <C> <C> <C>
Series G Preferred Stock
(convertile) 6/26/97 (1) Common Stock (1) (1) D
- ------------------------------- ------- ------- ------------------------ ------ --------------- --------------- -------------
Warrants (right to buy) 6/26/97 6/26/2002 Common Stock 200 $1.00 D
- ------------------------------- ------- ------- ------------------------ ------ --------------- --------------- -------------
- ------------------------------- ------- ------- ------------------------ ------ --------------- --------------- -------------
=============================== ======= ======= ======================== ====== =============== ============== ==============
Explanation of Responses:
Subject to adjustment in certain circumstances, each shares of Series G Preferred Stock is convertible into that number of shares
of Common Stock determined by dividing (i) the original issue price of Series G Preferred Stock plus an amount equal to 10% of the
Series G issue price per annum from the date the Series G Preferred Stock was issued to the conversion date by (ii) $1.00.
/s/ Nicolas Martin 12/10/97
_______________________________ ______________
Nicolas Martin Date
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If
space provided is insufficient, See Instruction 6 for procedure.
Potential person who are to respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMB Number.
Page 2
SEC 1473 (7-96)
</TABLE>
