UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No.__)*

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

The information required in 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).

ITEM 1(A) NAME OF ISSUER: APPLIED DIGITAL CORPORATION

ITEM 1(B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

3811 Turtle Creek Blvd., Suite 2100

Dallas, TX 75219

ITEM 2 (A) NAME OF PERSON FILING: Daniel Asher, Braeside Trust, Daniel Asher Descendants Trust, Daniel Asher APLD Annuity Trust, Sphinx Trading, LP, DBA Trading, LLC.

ITEM 2 (B) ADDRESS OR PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:

111 W Jackson Blvd., Suite 2220, Chicago, IL. 60604

ITEM 2 (C) CITIZENSHIP: USA

ITEM 2 (D) TITLE OF CLASS OF SECURITIES: COMMON STOCK

ITEM 2 (E) CUSIP NO.: 038169207

ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO §§ 240.13D-1(B) OR 240.13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A:

ITEM 4. OWNERSHIP 

(a) Amount beneficially owned: See Row 9 of cover page for each reporting person.

(b) Percent of class: See Row 11 of cover page for each reporting person

(c) Number of shares as to which the person has:

Daniel Asher controls the General Partner (namely Oakmont Investment, Inc.) of Sphinx Trading LP, and may be deemed to control Sphinx Trading LP and share voting and dispositive power over the shares held by Sphinx Trading LP.

Daniel Asher is the beneficial owner of Braeside Trust, DBA Trading, LLC, the Daniel Asher APLD Annuity Trust and the Daniel Asher Descendants Trust. And is deemed to control and share voting and dispositive power over the shares held by them.

ITEM 5. OWNERSHIP OF 5 PERCENT OR LESS OF A CLASS.

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following ☐.

ITEM 6. OWNERSHIP OF MORE THAN 5 PERCENT ON BEHALF OF ANOTHER PERSON. N/A

ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR CONTROL PERSON. N/A

ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP. N/A

ITEM 9. NOTICE OF DISSOLUTION OF GROUP. N/A

ITEM 10. CERTIFICATIONS.

(c) The following certification shall be included if the statement is filed pursuant to § 240.13d-1(c):

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

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.