UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 2)* APA OPTICS, INC. _____________________________________ (Name of Issuer) Common Stock, $0.01 Par Value ______________________________________ (Title of Class of Securities) 001853 10 0 ______________________________________ (CUSIP Number) ___________________________________________________ (Date of Event which Requires Filing of this Statement) The remainder of this cover page should 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). SCHEDULE 13G - -------------------------------------------------------------------------------- CUSIP No. 001853 10 0 Page 2 of 6 pages, including exhibits - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only) Kenneth A. Olsen - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] N/A - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 742,832 NUMBER OF ---------------------------------------------------------------- SHARES 6 SHARED VOTING POWER BENEFICIALLY OWNED BY ---------------------------------------------------------------- EACH 7 SOLE DISPOSITIVE POWER REPORTING 742,832 PERSON WITH ---------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 723,500 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [X] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 6.1% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (See Instructions) IN - -------------------------------------------------------------------------------- 14 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [ ] Rule 13d-1(b) [ ] Rule 13d-1(c) [X] Rule 13d-1(d) SCHEDULE 13G - -------------------------------------------------------------------------------- CUSIP No. 001853 10 0 Page 3 of 6 pages, including exhibits - -------------------------------------------------------------------------------- Item 1 (a) Name of Issuer: APA Optics, Inc. (b) Address of Issuer's Principal Executive Offices: 2950 NE 84th Lane Blaine, Minnesota 55434 Item 2 (a) Name of Person Filing Kenneth A. Olsen (b) Address of Principal Business Office or, if none, Residence: 2950 NE 84th Lane Blaine, Minnesota 55434 (c) Citizenship: United States (d) Title of Class of Securities: Common Stock, $0.01 Par Value (e) CUSIP Number: 001853 10 0 SCHEDULE 13G - -------------------------------------------------------------------------------- CUSIP No. 001853 10 0 Page 4 of 6 pages, including exhibits - -------------------------------------------------------------------------------- If this statement is filed pursuant to Sec. Sec. 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: Not Applicable (a)[ ] Broker or dealer registered under section 15 of the Act. (b)[ ] Bank as defined in section 3(a)(6) of the Act. (c)[ ] Insurance company as defined in section 3(a)(19) of the Act. (d)[ ] Investment company registered under section 8 of the Investment Company Act of 1940. (e)[ ] An investment advisor in accordance with rule 13d-1(b)(1)(ii)(E); (f)[ ] An employee benefit plan or endowment fund in accordance with rule 13d-1(b)(1)(ii)(F); (g)[ ] A parent holding company or control person in accordance with rule 13d-1(b)(1)(ii)(G); (h)[ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act. (i)[ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940; (j)[ ] Group, in accordance with rule 13d-1(b)(1)(ii)(J). Item 4 Ownership: Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 723,500* (b) Percent of Class: 6.1% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 742,832 (ii) Shared power to vote or to direct the vote: -0- (iii)Sole power to dispose or to direct the disposition of: 742,832 (iv) Shared power to dispose or to direct the disposition of: -0- *Excludes 19,332 Shares held by Reporting Person as Trustee of Trusts for Jain children. Reporting person has sole power to vote, dispose or direct the disposition of said Trust shares but disclaims beneficial ownership of said shares. SCHEDULE 13G - -------------------------------------------------------------------------------- CUSIP No. 001853 10 0 Page 5 of 6 pages, including exhibits - -------------------------------------------------------------------------------- Item 5 Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ]. Item 6 Ownership of More than Five Percent on Behalf of Another Person. N/A Item 7 Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company N/A Item 8 Identification and Classification of Members of the Group. N/A Item 9 Notice of Dissolution of Group. N/A SCHEDULE 13G - -------------------------------------------------------------------------------- CUSIP No. 001853 10 0 Page 6 of 6 pages, including exhibits - -------------------------------------------------------------------------------- Item 10 Certification: Not Applicable 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. February 13, 2001 (Date) /s/ Kenneth A. Olsen (Signature) - -------------------------------------- Kenneth A. Olsen (Name/Title)