OMB APPROVAL OMB Number: 3235-0145 Estimated average burden hours per response....14.90 UNITED STATES SECURlTIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities and Exchange Act of 1934 (Amendment No.)* Allied First Bancorp, Inc. -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, par value $.01 per share -------------------------------------------------------------------------------- (Title of Class of Securities) 019204106 ----------------------------------------------------------------------------- (CUSIP Number) Check the following box -- if a fee is being paid with the statement (A fee is not required only if the reporting person: (I) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item l; and (2) has held no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7.) *The remainder of this cover page shall 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 disclosures provided in a prior cover page. The information required on 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. 019204106 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 1 Lance S. Gad -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) / / -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION USA -------------------------------------------------------------------------------- 5 SOLE VOTING POWER NUMBER OF 30,000 -------------------------------------------------------------- SHARES BENEFICIALLY 6 SHARED VOTING POWER -------------------------------------------------------------- OWNED BY 7 SOLE DISPOSITIVE POWER 30,000 PERSON ----------------------------------------------------------------------- WITH 8 SHARED DISPOSITIVE POWER -------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 30,000 -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.37% -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IN -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! Item 1 a Allied First Bancorp, Inc. b 387 Shuman Blvd., Suite 120W Naperville, Illinois 60563 Item 2 a Name of Person Filing Lance S. Gad b Address of Principal Business Office or, if none, Residence 1250 Fence Row Drive Fairfield, CT 06824 c Citizenship U.S.A. d Title of Class of Securities Common Stock, par value $.01 per share e CUSIP Number 019204106 Item 3 N/A Item 4 a Amount Beneficially Owned 30,000 shares b Percent of Class 5.37% c Number of shares as to which such person has: i sole power to vote or to direct the vote 30,000 shares ii shared power to vote or to direct the vote N/A iii sole power to dispose or to direct the disposition of 30,000 shares iv shared power to dispose or to direct the disposition of N/A Item 5 N/A Item 6 N/A Item 7 N/A Item 8 N/A Item 10 Certification 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. Date: October 15, 2003 ss/Lance S. Gad Lance S. Gad, Principal