SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* PERLMAN RICHARD E (Last) (First) (Middle) C/O AIRWORKS FUNDING LLP 655 MADISON AVENUE, 23RD FLOOR (Street) NEW YORK NY 10021 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 06/19/2007	3. Issuer Name and Ticker or Trading Symbol KRONOS ADVANCED TECHNOLOGIES INC [ KNOS.OB ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) X Other (specify below) Member 13(d) group owning +10%	5. If Amendment, Date of 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

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Secured Convertible Promissory Note	(1)	06/19/2010	Common Stock	885,714,285(2)	$0.0028(3)	I	See Footnote(4)

Explanation of Responses:

1. Immediately.

2. Assumes the current principal balance of $2.48 million of the Secured Convertible Promissory Note is converted at a Conversion Price of $0.0028. The number of shares of Common Stock the Secured Convertible Promissory Note is convertible into is determined by dividing (x) that portion of the outstanding principal balance under the Secured Convertible Promissory Note being converted as of the date of conversion by (y) the then applicable Conversion Price. Excludes up to 2,978,571,428 additional shares of Common Stock which may become issuable if the Secured Convertible Promissory Note is funded in full. The holder has the right to advance an additional $8.34 million under the terms of the Secured Convertible Promissory Note.

3. Subject to adjustment under certain specified circumstances.

4. Mr. Perlman is a limited partner in AirWorks Funding LLLP and the President of Compass Partners, L.L.C., the general partner of AirWorks Funding LLLP, which is the direct holder of the Secured Convertible Promissory Note. Mr. Perlman disclaims beneficial ownership of the Secured Convertible Promissory Note except to the extent of its pecuniary interest therein

Remarks:

	/s/ Reinaldo Pascual, Attorney-In-Fact	06/29/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (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).
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