Degeorge Lawrence F, et al. – ‘SC 13D/A’ on 8/13/01 re: Advance Display Technologies Inc

On:  Monday, 8/13/01, at 4:21pm ET   ·   Accession #:  1050502-1-500308   ·   File #:  5-38096   ·   Correction:  This Filing was Corrected by the SEC on 3/14/03. ®

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Amendment to General Statement of Beneficial Ownership   —   Schedule 13D
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13D/A    Amendment to General Statement of Beneficial           5     18K 
                          Ownership                                              

Document Table of Contents

SC 13D/A
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 UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D/A

 Under the Securities Exchange Act of 1934
(Amendment No. 10) *

 Advance Display Technologies, Inc. ("ADTI")
 -------------------------------------------
(Name of Issuer)

 Common Stock, $.001 par value per share
 ---------------------------------------
(Title of Class of Securities)

 007422306 5
 -----------
(CUSIP Number)

 Lawrence F. DeGeorge, Jr., 777 So. Flagler Drive, Suite 800E,
West Palm Beach, Florida 33401
(561) 832-1160
--------------
 (Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications) 

 2/28/01
 -------
 (Date of Event Which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report 
the acquisition which is the subject of this Schedule 13D/A, and is filing this 
schedule because of Rule 13d-1(b)(3) or (4), check the following box _____.     

Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be    
sent.                                                                           

*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           
disclosures provided in a prior cover page.                                     

The information required on 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).                                                                         

SC 13D/A
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CUSIP No.       007422306                                                       
----------------------                                        

1    Name of Reporting Person                                                   

Lawrence F. DeGeorge, Jr.                                             

2    Check the Appropriate Box if a Member of a Group     a [ ]     b [ ]       

N/A                                                                   

3    SEC USE ONLY                                                               

4    Source of Funds *                                                          

PF                                                                    

5    Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items 
2(d) or 2(e) [ ]                                                      

6    Citizenship or Place of Organization                                       

United States of America                                              

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH               

7    Sole Voting Power:         14,309,007                                      

8    Shared Voting Power:       --00--                                          

9    Sole Dispositive Power:    14,309,007                                      

10   Shared Dispositive Power:  --00--                                          

11   Aggregate Amount Beneficially Owned by Each Reporting Person:  14,309,007  

12   Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares * [ ]

13   Percent of Class Represented by Amount in Row (11):  44.21%                

14   Type of Reporting Person *                                                 

IN                                                                    

 *SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.

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Item 1: SECURITY AND ISSUER                                                     

    This Schedule relates to the acquisition of beneficial ownership of Common
Stock, $.001 par value per share of Advance Display Technologies, Inc.          
(hereinafter the "Company"), whose principal place of business is located at    
7334 So. Alton Way, Bldg. 14, Suite F, Englewood, Colorado 80112.               

Item 2: IDENTITY AND BACKGROUND                                                 

No additional information required.                                   

Item 3: SOURCE OF FUNDS OR OTHER CONSIDERATION                                  

   The Reporting Person acquired a convertible promissory note in the amount
of $75,567 (the "Note") from the Company through private placement transaction  
on February 28, 2001. Such Note is immediately convertible into shares of the   
Company's Common Stock at the rate of $.18 per share, at the election of the    
holder. The funds used to acquire the Note were the personal funds of the       
Reporting Person.                                                               

Item 4: PURPOSE OF TRANSACTION                                                  

 The ownership which is the subject of this Schedule was acquired by Mr.
DeGeorge for the purpose of investment. Mr. DeGeorge has no plan to effect any  
transaction which would have the effect of, or result in, any of the following: 

     a.   The acquisition by any person of additional securities of the Company,
       or the disposition of securities of the Company; provided, however,
      that the Reporting Person may review his investment in the Company
      from time to time and make adjustments in his holdings as he deems
appropriate;                                                

b.   An extraordinary corporate transaction, such as a merger,        
      reorganization or liquidation, involving the Company or any of its
         subsidiaries; provided however, that in his capacity as a director of
         the Company, the Reporting Person will review opportunities which are
presented to the Company for consideration;                 

     c.   A sale or transfer of a material amount of assets of the Company or of
        any of its subsidiaries; provided however, that in his capacity as a
director of the Company, the Reporting Person will review   
       opportunities which are presented to the Company for consideration;

d.   Any change in the present board of directors or management of the
          Company, including any plans or proposals to change the number or term
of directors or to fill any existing vacancies on the board 

   e.   Any material change in the present capitalization or dividend policy
of the Company;                                             

SC 13D/A
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f.   Any other material change in the Company's business or corporate 
structure, including but not limited to, if the Company is a
       registered closed-end investment company, any plans or proposals to
          make any changes in its investment policy for which a vote is required
by Section 13 of the Investment Company Act of 1940;        

    g.   Changes in the Company's charter, bylaws or instruments corresponding
        thereto or other actions which may impede the acquisition of control
of the Company by any person;                               

 h.   Causing a class of securities of the Company to be delisted from a
          national securities exchange or to cease to be authorized to be quoted
in an inter-dealer quotation system of a registered national
securities association;                                     

i.   A class of equity securities of the Company become eligible for  
   termination of registration pursuant to Section 12(g)(4) of the
Securities Act of 1934; or                                  

j.   Any action similar to any of those enumerated above.             

Item 5: INTEREST IN SECURITIES OF THE ISSUER                                    

    a.   As of the date of the filing of this Schedule, Mr. DeGeorge is deemed
         to beneficially own 14,309,007 shares of Common Stock of the Company.
        Such amount includes 4,182,509 shares of Common Stock directly owned
          by him and 10,126,498 shares of Common Stock underlying the promissory
          notes which are convertible into the Companys' common stock, including
        the note described in Item 3 above. Such ownership represents 44.21%
of the issued and outstanding Common Stock of the Company.  

     b.   Mr. DeGeorge has the sole power to vote and has sole dispositive right
with regard to the 14,309,007 shares of Common Stock.       

     c.   On February 28, 2001, the Reporting Person acquired a Note for $75,567
        which is immediately convertible into shares of the Company's Common
          Stock at the rate of $.18 per share at the election of the holder. The
  Notes were acquired in a private transaction from the Company.

d.   N/A                                                              

e.   N/A                                                              

Item 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER                                        

  There are no contracts, arrangements, understandings or relationships of
the type required to be disclosed under this Item between the Reporting Person  
and any other person.                                                           

Item 7: MATERIAL TO BE FILED AS EXHIBITS                                        

 There is no material required to be filed as exhibits to this Schedule.

SC 13D/A
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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 the Statement to Schedule 13D/A is    
true, correct and complete.                                                     

/s/ Lawrence F. DeGeorge, Jr.                 Date: August 6, 2001              
-----------------------------                 --------------------              
Lawrence F. DeGeorge, Jr.                                                       

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘SC 13D/A’ Filing		Date		First		Last			Other Filings
Corrected on:		3/14/03							None on these Dates
Filed on:		8/13/01
		8/6/01		5
		2/28/01		3		4
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