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FORM 4 OMB Number: 3235-0287
- ------ Expires: September 30, 1998
Estimated average burden hours
per response ..............0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[ ] Check this box if no
longer subject to Filed pursuant to Section 16(a) of the Securities
Section 16. Form 4 Exchange Act of 1934, Section 17(a) of the
or Form 5 obligations Public Utility Holding Company Act of 1935
may continue. See or Section 30(f) of the Investment Company
Instructions 1(b) Act of 1940
<TABLE>
<S> <C> <C> <C> <C> <C> <C>
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| 1. Name and Address of Reporting Person* | 2. Issuer Name and Ticker or Trading Symbol |6. Relationship of Reporting Person to|
| Leontiev Igor A. | S. I. Diamond Technology, Inc. (SIDT) | Issuer (Check all applicable) |
|--------------------------------------------|----------------------------------------------| |
| (Last) (First) (Middle) | 3. IRS or Social | 4. Statement for | [X] Director [ ] 10% Owner |
| | Security Number of | Month/Year | [ ] Officer (give [ ] Other (specify|
| | Reporting Person | | title below) |
| 3006 Longhorn Boulevard | (Voluntary) | 6/99 | below) |
| | | | |
|--------------------------------------------| |--------------------|--------------------------------------|
| (Street) | | 5. If Amendment, |7. Individual or Joint/Group Filing |
| | | Date of Original| (Check Applicable Line) |
| | | (Month/Year) | [X] Form filed by One |
| Austin, Texas 78758 | | | Reporting Person |
|--------------------------------------------|----------------------------------------------| [ ] Form filed by More than |
| (City) (State) (Zip) | | One Reporting Person |
| | | |
|----------------------------------------------------------------------------------------------------------------------------------|
| TABLE 1 -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED |
|----------------------------------------------------------------------------------------------------------------------------------|
|1. Title of Security |2. Transaction |3. Transac- |4. Securities Acquired (A) |5. Amount of Se- |6. Owner- |7. Nature |
| (Instr. 3) | Date | tion Code | or Disposed of (D) | curities Benefi-| ship | of In- |
| | (Month/Day/ | (Instr. 8) | (Instr. 3, 4 and 5) | cially Owned at | Form: | direct |
| | Year) | | | End of Month | Direct | Benefi-|
| | | | | (Instr. 3 and 4)| (D) or | cial |
| | |--------------|--------------------------- | | Indirect | Owner- |
| | | Code | V | Amount | (A) or| Price | | (I) | ship |
| | | | | | (D) | | | (Instr. 4)| (Instr.|
| | | | | | | | | | 4) |
|---------------------|-------------------|-------|------|------------|-------|-------|-------------------|-------------|----------|
| Common Stock | 6/17/99 | S | | 10,000 | D | $0.92 | | | |
|---------------------|-------------------|-------|------|------------|-------|-------|-------------------|-------------|----------|
| Common Stock | 6/21/99 | S | | 10,000 | D | $1.03 | 210,000 | D | |
|---------------------|-------------------|-------|------|------------|-------|-------|-------------------|-------------|----------|
| | | | | | | | | | |
|---------------------|-------------------|-------|------|------------|-------|-------|-------------------|-------------|----------|
| | | | | | | | | | |
|---------------------|-------------------|-------|------|------------|-------|-------|-------------------|-------------|----------|
| | | | | | | | | | |
|---------------------|-------------------|-------|------|------------|-------|-------|-------------------|-------------|----------|
| | | | | | | | | | |
|---------------------|-------------------|-------|------|------------|-------|-------|-------------------|-------------|----------|
| | | | | | | | | | |
|---------------------|-------------------|-------|------|------------|-------|-------|-------------------|-------------|----------|
| | | | | | | | | | |
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(Over)
SEC 1474 (7-96)
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction
4(b)(v).
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<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
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|1. Title of Derivative |2. Conver- |3. Trans- |4. Trans- |5. Number of | 6. Date Exer- |7. Title and Amount |
| Security | sion or | action | action | Derivative | cisable and | of Underlying |
| (Instr. 3) | Exercise| Date | Code | Securities | Expiration | Securities |
| | Price of| (Month/| (Instr.| Acquired (A)| Date | (Instr. 3 and 4) |
| | Deriv- | Day/ | 8) | or Disposed | (Month/Day/ | |
| | ative | Year) | | of (D) | Year) | |
| | Security| | | (Instr. 3, | | |
| | | | | 4, and 5) |-----------------|-----------------------|
| | | | | | Date |Expira- | |Amount or|
| | | |----------|---------------| Exer- |tion | Title |Number of|
| | | | Code| V | (A) | (D) | cisable|Date | |Shares |
|-------------------------|-----------|----------|-----|----|-------|-------|--------|--------|-------------|---------|
|Stock Option - Rt to Buy | $0.375 | 5/11/98 | | | | | (1) | 7/28/07| Common Stock| 6,520 |
|-------------------------|-----------|----------|-----|----|-------|-------|--------|--------|-------------|---------|
|Stock Option - Rt to Buy | $0.375 | 5/11/98 | | | | | (1) | 5/11/08| Common Stock| 150 000 |
|-------------------------|-----------|----------|-----|----|-------|-------|--------|--------|-------------|---------|
|Stock Option - Rt to Buy | $0.500 | 1/11/99 | | | | | (1) | 1/11/09| Common Stock| 150,000 |
|-------------------------|-----------|----------|-----|----|-------|-------|--------|--------|-------------|---------|
| | | | | | | | | | | |
|-------------------------|-----------|----------|-----|----|-------|-------|--------|--------|-------------|---------|
| | | | | | | | | | | |
|-------------------------|-----------|----------|-----|----|-------|-------|--------|--------|-------------|---------|
| | | | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------
<CAPTION>
<C> <C> <C> <C>
- --------------------------------------------------------------------------------------------
|8. Price | 9. Number of | 10. Ownership | 11. Nature of |
| of | Derivative | Form of | Indirect |
| Deriv- | Securities | Derivative | Beneficial |
| ative | Beneficially | Security: | Ownership |
| Secur- | Owned at End | Direct (D) | (Instr. 4) |
| ity | of Month | or Indirect (I) | |
| (Instr. 5)| (Instr. 4) | (Instr. 4) | |
| | | | |
|-------------|---------------------|-------------------------------|----------------------|
| | | | |
|-------------|---------------------|-------------------------------|----------------------|
| | | | |
|-------------|---------------------|-------------------------------|----------------------|
| | 306,520 | D | |
|-------------|---------------------|-------------------------------|----------------------|
| | | | |
|-------------|---------------------|-------------------------------|----------------------|
| | | | |
|-------------|---------------------|-------------------------------|----------------------|
| | | | |
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Explanation of Responses:
(1) Options are fully vested as of the transaction grant date.
** Intentional misstatements or omissions of facts constitute Federal Criminal /s/ Donald T. Locke 7/7/99
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). -------------------------------- ----------
Donald T. Locke Date
Attorney-in-Fact
Note. File three copies of this Form, one of which must be manually signed. Page 2
If space is insufficient, see Instruction 6 for procedure.
Potential persons 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.
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