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FORM 3 - EDGAR PICKUP - 90-91
<S> <C>
- -------- --------------------------------
FORM 3 | OMB APPROVAL |
- -------- |------------------------------|
|OMB Number: 3235-0104|
|Expires: September 30, 1998|
U.S. SECURITIES AND EXCHANGE COMMISSION |Estimated average burden hours|
WASHINGTON, DC 20549 |per response.............. 0.5|
--------------------------------
</TABLE> 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
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<S> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------------------
|1. Name and Address of Reporting Person(1)|2. Date of Event Requiring |4. Issuer Name and Ticker or Trading Symbol |
| | Statement | |
| Martin, Jr. Nicholas | (Month/Day/Year) | |
|------------------------------------------| | SI Diamond Technology Inc. (SIDT) |
| (Last) (First) (Middle) | |-----------------------------------------------------------|
| | 7/26/99 |5. Relationship of Reporting | 6. If Amendment, Date |
| 3006 Longhorn Boulevard |---------------------------| Person to Issuer | of Original |
|------------------------------------------|3. IRS Identification | (Check all applicable) | (Month/Day/Year) |
| (Street) | Number of Reporting | | |
| | Person, if an Entity |[X] Director [ ] 10% Owner | |
| | (Voluntary) | | |
| | |[ ] Officer [ ] Other (specify| |
| | | (give below) |-------------------------|
| | | title below) | 7. Individual or Joint/ |
| Austin Texas 78758 | | | Group Filing (Check |
|--------------------------------------------------------------------------------------------------------| applicable line) |
| (City) (State) (Zip) | |
| | [X] Form Filed by |
| | One Reporting |
| | Person |
| | [ ] Form Filed by |
| | More than One |
| | Reporting Person |
|----------------------------------------------------------------------------------------------------------------------------------|
| TABLE 1 -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED |
|----------------------------------------------------------------------------------------------------------------------------------|
|1. Title of Security | 2. Amount of Securities | 3. Ownership Form: | 4. Nature of Indirect |
| (Instr. 4) | Beneficially Owned | Direct (D) or | Beneficial |
| | (Instr. 4) | Indirect (I) | Ownership (Instr. 4) |
| | | (Instr. 5) | |
|----------------------------------------|------------------------------|---------------------------|------------------------------|
| Common Stock | 548,916 | D | |
|----------------------------------------|------------------------------|---------------------------|------------------------------|
| | | | |
|----------------------------------------|------------------------------|---------------------------|------------------------------|
| | | | |
|----------------------------------------|------------------------------|---------------------------|------------------------------|
| | | | |
|----------------------------------------|------------------------------|---------------------------|------------------------------|
| | | | |
|----------------------------------------|------------------------------|---------------------------|------------------------------|
| | | | |
|----------------------------------------|------------------------------|---------------------------|------------------------------|
| | | | |
|----------------------------------------|------------------------------|---------------------------|------------------------------|
| | | | |
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(1) If the form is filed by more than one Reporting Person, see Instruction
5(b)(v).
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FORM 3 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<S> <C> <C> <C> <C> <C>
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| 1. Title of Derivative Security |2. Date |3. Title and Amount of |4. Conver- | 5. Owner- |6. Nature of Indirect|
| (Instr. 4) | Exercisable and | Securities Underlying | sion or | ship | Beneficial Owner- |
| | Expiration Date | Derivative Securities | Exercise | Form of | ship (Instr. 5) |
| | (Month/Day/Year )| (Instr. 4) | Price of | Deriva- | |
| | | | Deriva- | tive | |
| | | | tive | Security:| |
| | | | Security | Direct | |
| |--------------------|--------------------------| | (D) or | |
| | Date | Expira- | | Amount or | | Indirect | |
| | Exercis-| tion | Title | Number of | | (I) | |
| | able | Date | | Shares | | (Instr. | |
| | | | | | | 5) | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| Series G Preferred | Immed. | N/A | Common Stock | 241,425(1)| (1) | D | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| Series G Warrants | Immed. | 6/26/02 | Common Stock | 100,000 | $1.00 | D | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
|---------------------------------|----------|---------|--------------|-----------|------------|-------------|---------------------|
| | | | | | | | |
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</TABLE>
Explanation of Responses:
(1) Each share of Series G Preferred is convertible into shares of SI Diamond
Common Stock as determined by dividing the original issue price of the Series G
Preferred plus an accretion amount equal to 10% of the issue price per annum,
by $1.00. As of 7/26/99 Mr. Martin's Series G Preferred was convertible into
241,425 shares of SI Diamond Common Stock.
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<S> <C> /s/ Donald T. Locke 07-30-99
** Intentional misstatements or omissions of facts constitute Federal Criminal --------------------------------- ---------
Violations. Donald T. Locke Date
Attorney-in-Fact
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 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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