Smith Douglas E – ‘3’ for 5/14/01 re: American Utilicraft Corp.

As of:  Wednesday, 5/16/01   ·   For:  5/14/01   ·   Accession #:  1019687-1-500242   ·   File #:  0-32751

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Initial Statement of Beneficial Ownership of Securities by an Insider   —   Form 3   —   SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 3           Initial Statement of Beneficial Ownership of           3     14K 
                Securities by an Insider                                         

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 U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 3

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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1.   Name and Address of Reporting Person*                                      

Smith                            Douglas                 E.             
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(Last)                            (First)              (Middle)           

997 Windy Hill Road, Suite A                                            
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(Street)

Smyrna                             GA                   30080           
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(City)                            (State)                (Zip)            

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2.   Date of Event Requiring Statement (Month/Day/Year)                         

May 14, 2001                                                            
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3.   IRS Identification Number of Reporting Person, if an Entity (Voluntary)    

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4.   Issuer Name and Ticker or Trading Symbol                                   

American Utilicraft Corporation (AUCC)                                  
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5.   Relationship of Reporting Person to Issuer                                 
(Check all applicable)                                                

[ ]  Director                             [X]  10% Owner              
[ ]  Officer (give title below)           [_]  Other (specify below)  

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6.   If Amendment, Date of Original (Month/Day/Year)                            

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7.   Individual or Joint/Group Filing  (Check applicable line)                  

[X]  Form Filed by 1 Reporting Person                                 

[_]  Form Filed by More than 1 Reporting Person                       

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 Table I -- Non-Derivative Securities Beneficially Owned
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                                                        [Enlarge/Download Table]

                                                          3. Ownership Form:                                                        
                               2. Amount of Securities       Direct (D) or                                                          
1. Title of Security              Beneficially Owned         Indirect (I)       4. Nature of Indirect Beneficial Ownership          
   (Instr. 4)                     (Instr. 4)                 (Instr. 5)            (Instr. 4)                                       
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   Common Stock                     458,900                    I                By self as trustee of Smith Family Trust            
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   Common Stock                   1,056,707                    D                                                                    
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Reminder: Report on a separate line for each class of securities beneficially   
owned directly or indirectly.                               

                                                                          (Over)
                                                                 SEC 1473 (3-99)

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FORM 3 (continued)                                                              

Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

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                                                        [Enlarge/Download Table]

                                                                                                        5. Owner-                   
                                                    3. Title and Amount of Securities                      ship                     
                                                       Underlying Derivative Security                      Form of                  
                         2. Date Exercisable           (Instr. 4)                                          Derivative               
                            and Expiration Date     ---------------------------------    4. Conver-        Security:                
                            (Month/Day/Year)                               Amount           sion or        Direct      6. Nature of 
                         ----------------------                            or               Exercise       (D) or         Indirect  
                         Date       Expira-                                Number           Price of       Indirect       Beneficial
1. Title of Derivative   Exer-      tion                                   of               Derivative     (I)            Ownership 
   Security (Instr. 4)   cisable    Date            Title                  Shares           Security       (Instr. 5)     (Instr. 5)
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Purchase Warrant  Immediately       9/13/2003       Common Stock           150,000          $5             D                        
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Purchase Warrant  1/2 on 10/5/2001  9/30/2003      Common Stock             50,000          $3             D                        
                  1/2 on 10/5/2002                                                                                                  
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Explanation of Responses:                                                       

   /S/ Douglas E. Smith                                 May 14, 2001
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**Signature of Reporting Person                             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.

                                                                          Page 2

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘3’ Filing		Date		First		Last			Other Filings
Filed on:		5/16/01							3
For Period end:		5/14/01		1		3			3,  8-A12G
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