------------------ U.S. SECURITIES AND EXCHANGE COMMISSION ---------------------------|
| F O R M 3 | Washington, D.C. 20549 | OMB APPROVAL |
------------------ |--------------------------|
INITIAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP |OMB Number 3235-0104|
|Expires: December 31, 2001|
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, |Estimated avg. burden |
Section 17(a) of the Public Utility Holding Company Act of 1935 or |hours per response.....0.5|
Section 30(f) of the Investment Company Act 1940 ----------------------------
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|1.Name and Address of Reporting Person* |2.Date of Event |4.Issuer Name and Ticker or Trading Symbol |
| | Requiring Statement | |
| | (Month/Day/Year) | Atlas Minerals, Inc. (ATMR) |
| Davis Gerald E. | | |
|----------------------------------------| |-----------------------------------------------------------------|
| (Last) (First) (MI)| 09/7/01 |5.Relationship of Reporting Person to |6.If Amendment, Date of |
| | | Issuer (Check all Applicable) | Original (Mon/Day/Year)|
| | | | |
| |-----------------------| X Director 10% Owner | |
| 34 Lark Bunting Lane |3.IRS Identification |--- --- |-------------------------|
|----------------------------------------| Number of Reporting | |7.Individual or Joint/ |
| (Street) | Person, if an entity | X Officer (give Other | Group Filing |
| | (voluntary) |--- title --- (specify | (Check Applicable Line)|
| | | below) below) | X Form filed by One |
| | | |--- Reporting Person |
| | | | Form filed by More |
| | | Chairman of the Board and Secretary | than One Reporting |
| Littleton CO 80127 | | --------------------------------------|--- Person |
|----------------------------------------|-----------------------------------------------------------------------------------------|
| (City) (State) (Zip) | |
| | TABLE I - Non-Derivative Securities Beneficially Owned |
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|1.Title of Security (Instr. 4) |2.Amount of Securities |3.Ownership |4.Nature of Indirect Beneficial |
| | Beneficially Owned | Form: | Ownership (Instr. 5) |
| | (Instr. 4) | Direct (D) | |
| | | or Indirect | |
| | | (I)(Instr.5)| |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
| | | | |
|Common Stock | 32,941 | D | |
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Reminder: Report on a separate line for each class securities owned directly or indirectly. SEC 1473 (7-97)
*If the form is filed by more than one reporting person, see Instruction 5(b)(v).
PAGE: 1 OF 2
FORM 3 (continued) TABLE II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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|1.Title of |2.Date Exercisable and |3.Title and Amount of Underlying |4.Conversion or |5. |6.Nature of |
| Derivative | Expiration Date | Derivative Security (Instr. 4) | Exercise Price |Own. | Indirect |
| Security | (Month/Day/Year) | | of Derivative |Form | Beneficial |
| (Instr. 4) | | | Security |of | Ownership |
| | | | |Deri.| (Instr. 5) |
| | | | |Sec. | |
| | | | |Dir. | |
| | | | |(D) | |
| |-----------------------------|--------------------------------------| |or | |
| |Date |Expiration | |Amount or Number | |Ind. | |
| |Exercisable |Date | Title |of Shares | |(I) | |
|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
| | | | | | | | |
|Stock Options | 9/7/01 | 9/6/11 | Common Stock | 100,000 (1) | $0.12 | D | |
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|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
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|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
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|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
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|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
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|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
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|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
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|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
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|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
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Explanation of Responses:
(1) The stock options are fully vested.
**Intentional misstatements or omissions of facts constitute Federal /s/ Gerald E. Davis September 7, 2001
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). ------------------------------------ -----------------
**Signature of Reporting Person Date
Note: File three copies of this form, one of which must be manually signed. Gerald E. Davis
If space provided is insufficient, see Instruction 6 for procedure. SEC 1473 (7-97)
Potential persons who are to respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMD Number.
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