Edgar Filing: KRONOS ADVANCED TECHNOLOGIES INC

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN 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(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

SILVER JACK

2. Issuer Name and Ticker or Trading Symbol
KRONOS ADVANCED TECHNOLOGIES INC [KNOS.OB]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	__X__ 10% Owner
_____ Officer (give title below)	__X__ Other (specify below)
Mbr 13(d) grp owning + 10%

(Last)

(First)

(Middle)

C/O SIAR CAPITAL LLC, 660 MADISON AVENUE

3. Date of Earliest Transaction (Month/Day/Year)
08/09/2007

(Street)

NEW YORK, NY 10021

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

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

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

See Footnote ⁽¹⁾

$ 0.0028

08/09/2007

J⁽²⁾

$ 280,000

⁽³⁾

06/19/2010

Common Stock

⁽⁴⁾

$ 280,000

$ 1,200,000

See Footnote ⁽⁵⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
SILVER JACK C/O SIAR CAPITAL LLC 660 MADISON AVENUE NEW YORK, NY 10021		X		Mbr 13(d) grp owning + 10%

Signatures

/s/ Jack Silver		08/10/2007
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Secured Convertible Promissory Note due June 19, 2010 (the "Note").
(2)	On August 9, 2007, Hilltop Holding Company, LP advanced to Kronos Advanced Technologies Inc. $280,000.00 in accordance with the terms of the Note. As of the date hereof, the outstanding principal balance of the Note is $1,200,000. The holder has the right to advance an additional $5.28million under the terms of the Note.
(3)	Immediately.
(4)	100,000,000, assuming the advance of $280,000 under the Note is converted at a Conversion Price of $0.0028. The number of shares of Common Stock the Note is convertible into is determined by dividing (x) that portion of the outstanding principal balance under the Note being converted as of the date of conversion by (y) the then applicable Conversion Price. The current outstanding principal balance of $1,200,000 is convertible into 428,571,428 shares of Common Stock. In the event the Note is funded in full, the holder will have the right to convert the Note into 1,885,714,285 additional shares of Common Stock.
(5)	By Hilltop Holding Company, LP, a limited partnership of which Jack Silver is the general partner.

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