FORM 3
        
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

WELKOWITZ RICHARD

2. Date of Event Requiring Statement (MM/DD/YYYY)
3/3/2015 

3. Issuer Name and Ticker or Trading Symbol

Bulova Technologies Group, Inc. [BTGI]

(Last)        (First)        (Middle)

120 NORTH POIINTE BLVD

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

_____ Director                            ___ X ___ 10% Owner
_____ Officer (give title below)          _____ Other (specify below)

(Street)

LANCASTER, PA 17601       

(City)              (State)              (Zip)
5. If Amendment, Date Original Filed (MM/DD/YYYY)

 

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 Derivate Security
(Instr. 4) 		2. Date Exercisable and Expiration Date
(MM/DD/YYYY) 		3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4) 		4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: 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
Common Stock Warrants   3/3/2015   3/2/2025   Common Stock   10000000   $0.0200   D    
Convertible Note   2/6/2015     (1) Common Stock   40000000   $0.1000   D    

Explanation of Responses:
( 1)  See Remarks

Remarks:
On March 4, 2015, the Issuer closed on a $4,000,000 Secured Convertible Note and Warrant Purchase Agreement dated February 6, 2015, with the Reporting Person. In connection with this funding, the Reporting Person was issued detachable and immediately exercisable 10 year Warrants to acquire up to 10,000,000 shares of the Issuer's common stock at a $.02 exercise price per share.

The Note is convertible into shares of the Issuer's common stock at the following conversion rates:

* From 181 days after the date of the Note through the balance of Year 1 - $.10/share
* Year 2 - $.20
* Year 3 - $.30
* Year 4 - $.40
* Year 5 - $.50

For purposes of this Form 3, the Issuer is assuming a conversion price of $.10.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
WELKOWITZ RICHARD
120 NORTH POIINTE BLVD
LANCASTER, PA 17601
X


Signatures
/s/ Richard Welkowitz 5/15/2015
** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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