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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. ______)*
Applied Cellular Technology, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
037931 10 2
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(CUSIP Number)
Check the following box if a fee is being paid with this statement. [X]
(A fee is not required only if the filing person: (1) has a previous statement
on file reporting beneficial ownership of more than five percent of the class
of securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act, but shall be subject to all other provisions of the Act (however, see
the Notes).
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CUSIP No. 037931 10 2
1) Name of Reporting Person Lokken, Chesnut & Cape, Inc
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S.S. or I.R.S. Identification No. of Above Person 41-1695424
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2) Check the Appropriate Row if a Member of a Group (See Instructions)
(a)
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(b)
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3) SEC Use Only
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4) Citizenship or Place of Organization Minnesota
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Number of Shares 5) Sole Voting Power 1,000
Beneficially Owned -----
By Each Reporting 6) Shared Voting Power 0
Person With -----
7) Sole Dispositive Power 1,000
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8) Shared Dispositive Power 258,400
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9) Aggregate Amount Beneficially Owned by Each Reporting
Person 259,400
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10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions) N/A
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11) Percent of Class Represented by Amount in Row 9 11.1%
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12) Type of Reporting Person (See Instructions) IA
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Item 1(a) Name of Issuer
Applied Cellular Technology, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices.
Applied Cellular Technology, Inc.
Nixa Professional Center
Highway 160 and CC
Suite 3
Nixa, MO 65714
Item 2(a) Name of Person Filing.
Lokken, Chesnut & Cape, Inc. ("LCC")
Item 2(b) Address of Principal Business Office or, if None, Residence.
Lokken, Chesnut & Cape, Inc.
201 Main Street
Suite 200
La Crosse, WI 54601
Item 2(c) Citizenship.
LCC is a corporation incorporated under the laws of the State of
Minnesota.
Item 2(d) title of Class of Securities.
Common Stock
Item 2(e) CUSIP Number.
037931 10 2
Item 3. Filing Status if Filed Pursuant to Rule 13d-1(b) or 13d-2(b).
LCC is an investment adviser registered under section 203 of the
Investment Advisers Act of 1940.
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Item 4. Ownership.
See Items 9,11, 5, 6, 7 and 8 of the Cover Page for answers to this Item
4.
Item 5. Ownership of Five Percent or Less of a Class.
Not applicable.
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
The 258,400 shares of Common Stock included in the Schedule were purchased
by LCC, an investment adviser, for the accounts of certain of its customers.
No customer holds in excess of five percent of the issuer's Common Stock in
such accounts.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
Not applicable.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
By signing below, I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purposes or effect.
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
August 14, 1996
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Date
/s/ James C. Naleid
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Signature
James C. Naleid, Senior Investment Officer
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Name/Title
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