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<SEC-DOCUMENT>0000950136-07-003603.txt : 20070517
<SEC-HEADER>0000950136-07-003603.hdr.sgml : 20070517
<ACCEPTANCE-DATETIME>20070517121916
ACCESSION NUMBER:		0000950136-07-003603
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20070517
DATE AS OF CHANGE:		20070517

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CPI AEROSTRUCTURES INC
		CENTRAL INDEX KEY:			0000889348
		STANDARD INDUSTRIAL CLASSIFICATION:	AIRCRAFT PART & AUXILIARY EQUIPMENT, NEC [3728]
		IRS NUMBER:				112520310
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-46461
		FILM NUMBER:		07860237

	BUSINESS ADDRESS:	
		STREET 1:		200A EXECUTIVE DR
		CITY:			EDGEWOOD
		STATE:			NY
		ZIP:			11717
		BUSINESS PHONE:		5165865200

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AUGUST ARTHUR
		CENTRAL INDEX KEY:			0000902233
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		5167374700

	MAIL ADDRESS:	
		STREET 1:		CPI AEROSTRUCTURES INC
		STREET 2:		200A EXECUTIVE DR
		CITY:			EDGEWOOD
		STATE:			NY
		ZIP:			11717
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>file1.htm
<DESCRIPTION>FORM SC 13D/A
<TEXT>
<HTML>
<HEAD>
<TITLE>
</TITLE>
</HEAD>
<BODY>


  <PAGE>
	 <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0">
		<TR>
		  <TD WIDTH="70%">&nbsp;</TD>
		  <TD>&nbsp;</TD>
		</TR>
	 </TABLE>
	 <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0">
		<TR>
		  <TD ALIGN="center">
			 <P ALIGN="center">
				<B> </B><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
				</B></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>SECURITIES
				AND EXCHANGE COMMISSION<BR> </B></FONT><FONT
				FACE="Times New Roman, Times, Serif" SIZE="2"><B>Washington, D.C.
				20549</B></FONT>
			 </P>
		  </TD>
		</TR>
	 </TABLE>
	 <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0">
		<TR>
		  <TD>&nbsp;</TD>
		</TR>
		<TR>
		  <TD ALIGN="center"><FONT FACE="Times New Roman, Times, Serif"
			 SIZE="2"><B>SCHEDULE 13D</B></FONT></TD>
		</TR>
		<TR>
		  <TD ALIGN="center">
			 <P ALIGN="center">
				<FONT SIZE="2" FACE="Times New Roman, Times, serif"><B> (Rule
				13d-102) </B></FONT>
			 </P>
		  </TD>
		</TR>
		<TR>
		  <TD ALIGN="center">&nbsp;</TD>
		</TR>
		<TR>
		  <TD ALIGN="center">
			 <P ALIGN="center">
				<FONT SIZE="2" FACE="Times New Roman, Times, serif"><B> INFORMATION
				TO BE INCLUDED IN STATEMENTS TO BE FILED PURSUANT </B></FONT>
			 </P>
		  </TD>
		</TR>
		<TR>
		  <TD ALIGN="center">
			 <P ALIGN="center">
				<FONT SIZE="2" FACE="Times New Roman, Times, serif"><B> TO RULE
				13D-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO </B></FONT>
			 </P>
		  </TD>
		</TR>
		<TR>
		  <TD ALIGN="center">
			 <P ALIGN="center">
				<FONT SIZE="2" FACE="Times New Roman, Times, serif"><B> RULE
				13D-2(a) </B></FONT>
			 </P>
		  </TD>
		</TR>
		<TR>
		  <TD ALIGN="center">&nbsp;</TD>
		</TR>
		<TR>
		  <TD ALIGN="center"><FONT FACE="Times New Roman, Times, Serif"
			 SIZE="2"><B>(Amendment No. </B>3<B>)*</B></FONT></TD>
		</TR>
	 </TABLE>
	 <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0">
		<TR>
		  <TD>&nbsp;</TD>
		</TR>
		<TR>
		  <TD VALIGN="bottom" ALIGN="center">
			 <P ALIGN="center">
				<FONT SIZE="2" FACE="Times New Roman, Times, serif"> CPI
				AEROSTRUCTURES, INC. </FONT>
			 </P>
		  </TD>
		</TR>
		<TR>
		  <TD> <HR ALIGN="center" NOSHADE="NOSHADE" SIZE="1"> </TD>
		</TR>
		<TR>
		  <TD VALIGN="top" ALIGN="center"><FONT
			 FACE="Times New Roman, Times, serif" SIZE="2">(Name of Issuer)</FONT></TD>
		</TR>
		<TR>
		  <TD><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">&nbsp;</FONT></TD>
		</TR>
		<TR>
		  <TD VALIGN="bottom" ALIGN="center"><FONT
			 FACE="Times New Roman, Times, serif" SIZE="2">Common Stock, par value $.001 per
			 share</FONT></TD>
		</TR>
		<TR>
		  <TD ALIGN="center"> <HR ALIGN="center" NOSHADE="NOSHADE" SIZE="1">
			 </TD>
		</TR>
		<TR>
		  <TD VALIGN="top" ALIGN="center"><FONT
			 FACE="Times New Roman, Times, serif" SIZE="2">(Title of Class of
			 Securities)</FONT></TD>
		</TR>
		<TR>
		  <TD><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">&nbsp;</FONT></TD>
		</TR>
		<TR>
		  <TD VALIGN="bottom" ALIGN="center">
			 <P ALIGN="center">
				<FONT SIZE="2" FACE="Times New Roman, Times, serif"> 125919308
				</FONT>
			 </P>
		  </TD>
		</TR>
		<TR>
		  <TD ALIGN="center"> <HR ALIGN="center" NOSHADE="NOSHADE" SIZE="1">
			 </TD>
		</TR>
		<TR>
		  <TD VALIGN="top" ALIGN="center"><FONT
			 FACE="Times New Roman, Times, serif" SIZE="2">(CUSIP Number)</FONT></TD>
		</TR>
		<TR>
		  <TD><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">&nbsp;</FONT></TD>
		</TR>
		<TR>
		  <TD VALIGN="bottom">
			 <P ALIGN="center">
				<FONT SIZE="2" FACE="Times New Roman, Times, serif"> David Alan
				Miller, Esq.<BR> Graubard Miller<BR> 405 Lexington Avenue<BR> New York, New
				York 10174<BR> Telephone: (212) 818-8800 </FONT>
			 </P>
		  </TD>
		</TR>
		<TR>
		  <TD> <HR ALIGN="center" NOSHADE="NOSHADE" SIZE="1"> </TD>
		</TR>
		<TR>
		  <TD VALIGN="top" ALIGN="center"><FONT
			 FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;(Name, Address and
			 Telephone Number of Persons <BR> Authorized to Receive Notices and
			 Communications)</FONT></TD>
		</TR>
		<TR>
		  <TD><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">&nbsp;</FONT></TD>
		</TR>
		<TR>
		  <TD VALIGN="bottom" ALIGN="center"><FONT
			 FACE="Times New Roman, Times, serif" SIZE="2">May 4, 2007</FONT></TD>
		</TR>
		<TR>
		  <TD ALIGN="center"> <HR ALIGN="center" SIZE="1" NOSHADE="NOSHADE">
			 </TD>
		</TR>
		<TR>
		  <TD VALIGN="top" ALIGN="center"><FONT
			 FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;(Date of Event which
			 Requires Filing of this Statement)</FONT></TD>
		</TR>
		<TR>
		  <TD>&nbsp;</TD>
		</TR>
	 </TABLE>
	 <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0">
		<TR>
		  <TD COLSPAN="2" ALIGN="left">
			 <P ALIGN="left">
				<FONT FACE="Times New Roman, Times, Serif"
				 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If filing
				person has previously filed a statement on Schedule 13G to report the
				acquisition which is the subject of this Schedule 13D, and is filing this
				schedule&nbsp;because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
				following box <FONT FACE="Wingdings">o</FONT>.</FONT>
			 </P>
		  </TD>
		</TR>
		<TR>
		  <TD>&nbsp;</TD>
		  <TD>&nbsp;</TD>
		</TR>
		<TR>
		  <TD WIDTH="4%">&nbsp;</TD>
		  <TD ALIGN="left">
			 <DIV ALIGN="left"><FONT FACE="Times New Roman, Times, Serif"
				SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&nbsp;Note.</I> Schedules
				filed in paper format shall include a signed original and five copies of the
				schedule, including all exhibits. See Rule 13d-7 for other parties to whom
				copies are to be sent.</FONT></DIV></TD>
		</TR>
		<TR>
		  <TD COLSPAN="2">&nbsp;</TD>
		</TR>
		<TR>
		  <TD COLSPAN="2">
			 <P ALIGN="center">
				<FONT SIZE="2" FACE="Times New Roman, Times, serif"> (Continued on
				the following pages) </FONT>
			 </P>
		  </TD>
		</TR>
		<TR>
		  <TD COLSPAN="2">&nbsp;</TD>
		</TR>
		<TR>
		  <TD COLSPAN="2">
			 <P ALIGN="center">
				<FONT SIZE="2" FACE="Times New Roman, Times, serif"> (Page 1 of 6)
				</FONT>
			 </P>
		  </TD>
		</TR>
		<TR>
		  <TD COLSPAN="2">&nbsp;</TD>
		</TR>
		<TR>
		  <TD COLSPAN="2"><HR ALIGN="left" WIDTH="200" SIZE="1"
			 NOSHADE="NOSHADE"></TD>
		</TR>
		<TR>
		  <TD COLSPAN="2"><FONT SIZE="1"
			 FACE="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
		</TR>
		<TR>
		  <TD COLSPAN="2" ALIGN="left">
			 <DIV ALIGN="left"><FONT FACE="Times New Roman, Times, Serif"
				SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*The
				remainder of this cover page shall be filled out for a reporting person&#146;s
				initial filing on this form with respect to the subject class of securities,
				and for any subsequent amendment containing information that would alter
				disclosures provided in a prior cover page.</FONT></DIV></TD>
		</TR>
		<TR>
		  <TD COLSPAN="2">&nbsp;</TD>
		</TR>
		<TR>
		  <TD COLSPAN="2" ALIGN="left">
			 <P ALIGN="left">
				<FONT FACE="Times New Roman, Times, Serif"
				 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
				information required on the remainder of this cover page shall not be deemed to
				be &#147;filed&#148; for the purpose of Section 18 of the Securities Exchange
				Act of 1934 (&#147;Act&#148;) 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 <I>Notes</I>).</FONT>
			 </P>
		  </TD>
		</TR>
	 </TABLE>
	 <P>
		&nbsp;
	 </P>
	 <HR NOSHADE="NOSHADE" SIZE="5">
	 <P STYLE="PAGE-BREAK-BEFORE: always">
	 </P>
	 <PAGE><BR>
	 <TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
		<TR ALIGN="center" VALIGN="middle">
		  <TD WIDTH="25%"
			STYLE="BORDER-BOTTOM:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000;"><FONT
			 FACE="Times New Roman, Times, serif" SIZE="2"><B>CUSIP No.
			 125919308</B>&nbsp;</FONT></TD>
		  <TD HEIGHT="36"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2"><B>SCHEDULE 13D</B></FONT></TD>
		  <TD WIDTH="25%"
			STYLE="BORDER-BOTTOM:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000;"><FONT
			 SIZE="2" FACE="Times New Roman, Times, serif"><B>Page 2 of 6
			 Pages</B></FONT></TD>
		</TR>
	 </TABLE> <BR>
	 <TABLE CELLSPACING="0" CELLPADDING="4" WIDTH="100%" BORDER="1">
		<TR>
		  <TD VALIGN="top" WIDTH="3%"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1</FONT></TD>
		  <TD COLSPAN="4">
			 <P>
				<FONT FACE="Times New Roman, Times, serif" SIZE="2">NAMES OF
				REPORTING PERSONS <BR> </FONT>
				<FONT FACE="Times New Roman, Times, serif" SIZE="2">I.R.S. IDENTIFICATION NO.
				OF ABOVE PERSON (ENTITIES ONLY)<BR> </FONT><FONT
				FACE="Times New Roman, Times, serif" SIZE="2"><B>Arthur August</B><BR> </FONT>
			 </P>
		  </TD>
		</TR>
		<TR>
		  <TD VALIGN="top"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2</FONT></TD>
		  <TD VALIGN="top" COLSPAN="4"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE
			 INSTRUCTIONS)</FONT><BR> <FONT FACE="Times New Roman, Times, Serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)
			 &nbsp;</FONT><FONT FACE="Wingdings" SIZE="2">o</FONT><BR>
			 <FONT FACE="Times New Roman, Times, Serif"
			  SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)
			 &nbsp;</FONT><FONT FACE="Wingdings" SIZE="2">o</FONT></TD>
		</TR>
		<TR>
		  <TD VALIGN="top"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3</FONT></TD>
		  <TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">SEC
			 USE ONLY<BR> <BR> </FONT></TD>
		</TR>
		<TR>
		  <TD VALIGN="top"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4</FONT></TD>
		  <TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">SOURCE OF FUNDS (SEE INSTRUCTIONS)<BR> <B>See Item 3</B> <BR>
			 </FONT></TD>
		</TR>
		<TR>
		  <TD VALIGN="top"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5</FONT></TD>
		  <TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
			 2(d)<BR> OR 2(e)</FONT><FONT SIZE="2"><FONT
			 FACE="Times New Roman, Times, Serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
			 SIZE="2"><FONT FACE="Times New Roman, Times, Serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE="2"><FONT
			 FACE="Times New Roman, Times, Serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT><FONT
			 FACE="Times New Roman, Times, Serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT><FONT
			 FACE="Times New Roman, Times, Serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT><FONT FACE="Wingdings"
			 SIZE="2">o</FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">
			 </FONT></TD>
		</TR>
		<TR>
		  <TD VALIGN="top"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6</FONT></TD>
		  <TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">CITIZENSHIP OR PLACE OF ORGANIZATION<BR> </FONT><FONT
			 FACE="Times New Roman, Times, Serif" SIZE="2"><B>United States</B></FONT><FONT
			 FACE="Times New Roman, Times, serif" SIZE="2"> <BR> </FONT></TD>
		</TR>
		<TR>
		  <TD ALIGN="left" WIDTH="7%" COLSPAN="2" ROWSPAN="4">
			 <P>
				<STRONG><FONT FACE="Times New Roman, Times, serif" SIZE="2">NUMBER
				OF<BR> SHARES <BR> BENEFICIALLY<BR> OWNED BY <BR> EACH <BR> REPORTING <BR>
				PERSON <BR> WITH</FONT></STRONG>
			 </P>
		  </TD>
		  <TD VALIGN="top" WIDTH="7%"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7</FONT></TD>
		  <TD VALIGN="top" COLSPAN="2"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">SOLE VOTING POWER<BR> <BR> <B>88,021 Shares</B><BR> </FONT></TD>
		</TR>
		<TR>
		  <TD VALIGN="top"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8</FONT></TD>
		  <TD VALIGN="top" COLSPAN="2"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">SHARED VOTING POWER<BR> <BR> <B>-0-</B> </FONT></TD>
		</TR>
		<TR>
		  <TD VALIGN="top"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9</FONT></TD>
		  <TD VALIGN="top" COLSPAN="2"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">SOLE DISPOSITIVE POWER</FONT>
			 <FONT FACE="Times New Roman, Times, serif" SIZE="2"><BR> <BR> <B>88,021
			 Shares</B><BR> </FONT></TD>
		</TR>
		<TR>
		  <TD VALIGN="top"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10</FONT></TD>
		  <TD VALIGN="top" COLSPAN="2"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">SHARED DISPOSITIVE POWER<BR> <BR> <B>-0-</B> </FONT></TD>
		</TR>
		<TR>
		  <TD VALIGN="top"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11</FONT></TD>
		  <TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<BR>
			 <B>88,021</B> <BR> </FONT></TD>
		</TR>
		<TR>
		  <TD VALIGN="top"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12</FONT></TD>
		  <TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE
			 <BR> INSTRUCTIONS)<STRONG><FONT FACE="Times New Roman, Times, Serif"
			 SIZE="2"><FONT SIZE="2"><FONT FACE="Times New Roman, Times, Serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
			 FACE="Times New Roman, Times, serif" SIZE="2"><STRONG><FONT
			 FACE="Times New Roman, Times, Serif" SIZE="2"><FONT SIZE="2"><FONT
			 FACE="Times New Roman, Times, Serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT></FONT></STRONG></FONT><FONT
			 FACE="Times New Roman, Times, serif" SIZE="2"><STRONG><FONT
			 FACE="Times New Roman, Times, Serif" SIZE="2"><FONT SIZE="2"><FONT
			 FACE="Times New Roman, Times, Serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
			 FACE="Times New Roman, Times, serif" SIZE="2"><STRONG><FONT
			 FACE="Times New Roman, Times, Serif" SIZE="2"><FONT SIZE="2"><FONT
			 FACE="Times New Roman, Times, serif" SIZE="2"><STRONG><FONT
			 FACE="Times New Roman, Times, Serif" SIZE="2"><FONT SIZE="2"><FONT
			 FACE="Times New Roman, Times, Serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT></FONT></STRONG></FONT></FONT></FONT></STRONG></FONT><FONT
			 FACE="Times New Roman, Times, Serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT></FONT></STRONG></FONT><FONT
			 FACE="Times New Roman, Times, Serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT><FONT
			 FACE="Wingdings">x</FONT></FONT></STRONG> </FONT></TD>
		</TR>
		<TR>
		  <TD VALIGN="top"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13</FONT></TD>
		  <TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<BR> <B>1.5%</B><BR>
			 </FONT></TD>
		</TR>
		<TR>
		  <TD VALIGN="top"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14</FONT></TD>
		  <TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2">TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)<BR>
			 <STRONG>IN</STRONG><BR> </FONT></TD>
		</TR>
	 </TABLE>
	 <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0">
		<TR>
		  <TD>&nbsp;</TD>
		</TR>
		<TR>
		  <TD ALIGN="center">
			 <P>
				<FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>*SEE
				INSTRUCTIONS BEFORE FILLING OUT!</B></FONT>
			 </P>
		  </TD>
		</TR>
	 </TABLE>
	 <P>
		&nbsp;
	 </P>
	 <HR NOSHADE="NOSHADE" SIZE="5">
	 <P STYLE="PAGE-BREAK-BEFORE: always">
	 </P>
	 <PAGE><BR>
	 <TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
		<TR ALIGN="center" VALIGN="middle">
		  <TD WIDTH="25%"
			STYLE="BORDER-BOTTOM:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000;"><FONT
			 FACE="Times New Roman, Times, serif" SIZE="2"><B>CUSIP No.
			 125919308</B>&nbsp;</FONT></TD>
		  <TD HEIGHT="36"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2"><B>SCHEDULE 13D</B></FONT></TD>
		  <TD WIDTH="25%"
			STYLE="BORDER-BOTTOM:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000;"><FONT
			 SIZE="2" FACE="Times New Roman, Times, serif"><B>Page 3 of 6
			 Pages</B></FONT></TD>
		</TR>
	 </TABLE>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Item 1.
		&nbsp;&nbsp; <U>Securities and Issuer</U></B></FONT>
	 </P>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif"
		 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
		FACE="Times New Roman, Times, Serif" SIZE="2">The class of equity securities to
		which this statement relates is the common stock, par value $.001 per share
		(&#147;Common Stock&#148;), of CPI Aerostructures, Inc. (&#147;Company&#148;),
		a New York corporation, whose principal executive offices are located at 60
		Heartland Boulevard, Edgewood, New York 11717. The Company is engaged in the
		contract production of aircraft structural parts and assemblies.</FONT>
	 </P>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif"
		 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
		FACE="Times New Roman, Times, Serif" SIZE="2">The percentage of beneficial
		ownership reflected in this Amendment No. 3 to Schedule 13D is based upon
		5,730,273 shares of Common Stock outstanding as of May 10, 2007.</FONT>
	 </P>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Item 2.
		&nbsp;&nbsp; <U>Identity and Background</U></B></FONT>
	 </P>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif"
		 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
		FACE="Times New Roman, Times, Serif" SIZE="2">This statement is filed on behalf
		of Arthur August. Mr. August&#146;s residence address is 7155 Wainscott Court,
		Sarasota, Florida 34238. Mr. August retired as Chairman Emeritus of the Company
		on December 31, 2006.</FONT>
	 </P>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif"
		 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
		FACE="Times New Roman, Times, Serif" SIZE="2">Mr. August has not been convicted
		in any criminal proceeding (excluding traffic violations or similar
		misdemeanors) during the last five years. Mr. August has not been a party to a
		civil proceeding of a judicial or administrative body of competent jurisdiction
		resulting in a judgment, decree or final order enjoining him from engaging in
		future violations of, or prohibiting or mandating activities subject to,
		federal or state securities laws or finding any violation with respect to such
		laws during the last five years.</FONT>
	 </P>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif"
		 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
		FACE="Times New Roman, Times, Serif" SIZE="2">Mr. August is a United States
		citizen.</FONT>
	 </P>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Item 3.
		&nbsp;&nbsp;&nbsp;<U>Source and Amount of Funds or Other
		Consideration</U></B></FONT>
	 </P>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif"
		 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
		FACE="Times New Roman, Times, Serif" SIZE="2">In a series of public market
		transactions executed between April 4, 2007 and April 20, 2007, Mr. August sold
		30,879 shares of Common Stock. On April 20, 2007, Mr. August exercised options
		to purchase 175,000 shares of Common Stock, for which the exercise price was
		paid in cash from his personal funds. On May 4, 2007, in a private transaction,
		Mr. August sold 250,000 shares of Common Stock, consisting of (i) the shares
		acquired upon the exercise of options described above and (ii) 75,000 shares
		acquired through various prior transactions.</FONT>
	 </P>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Item 4.
		&nbsp;&nbsp; <U>Purpose of Transactions</U></B></FONT>
	 </P>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif"
		 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
		FACE="Times New Roman, Times, Serif"
		SIZE="2">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr.
		August disposed of the securities specified in Item 3 above in the ordinary
		course of his business activities. At this time, Mr. August has no specific
		plans to acquire any additional Common Stock. Mr. August may at any time and
		from time to time exercise his options or dispose of his Common Stock,
		depending upon an ongoing evaluation of the investment in the Common Stock,
		prevailing market conditions, other investment opportunities, liquidity
		requirements or other investment considerations. Mr. August has made no
		determination regarding a maximum or minimum number of shares of Common Stock
		which he may hold at any point in time.</FONT>
	 </P>
	 <P>
		&nbsp;
	 </P>
	 <HR NOSHADE="NOSHADE" SIZE="5">
	 <P STYLE="PAGE-BREAK-BEFORE: always">
	 </P>
	 <PAGE><BR>
	 <TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
		<TR ALIGN="center" VALIGN="middle">
		  <TD WIDTH="25%"
			STYLE="BORDER-BOTTOM:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000;"><FONT
			 FACE="Times New Roman, Times, serif" SIZE="2"><B>CUSIP No.
			 125919308</B>&nbsp;</FONT></TD>
		  <TD HEIGHT="36"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2"><B>SCHEDULE 13D</B></FONT></TD>
		  <TD WIDTH="25%"
			STYLE="BORDER-BOTTOM:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000;"><FONT
			 SIZE="2" FACE="Times New Roman, Times, serif"><B>Page 4 of 6
			 Pages</B></FONT></TD>
		</TR>
	 </TABLE>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif"
		 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr.
		August does not have any present plans or proposals which would result in: an
		extraordinary corporate transaction, such as a merger, reorganization or
		liquidation involving the Company or any of its subsidiaries; a sale or
		transfer of a material amount of the assets of the Company or any of its
		subsidiaries; any change in the present Board of Directors of management of the
		Company, including any plans or proposals to change the number or term of
		directors or to fill any existing vacancies on the board; any material change
		in the present capitalization or dividend policy of the Company; any other
		material change in the Company&#146;s business or corporate structure; any
		changes in the Company&#146;s charter or bylaws or other actions that may
		impede the acquisition of control of the Company by any person; causing a class
		of securities of the Company to be delisted from a national securities exchange
		or to cease to be authorized to be quoted on an inter-dealer quotation system
		of a registered national securities association; causing a class of equity
		securities of the Company to become eligible for termination of registration
		pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934; or any
		other action similar to any of those enumerated above.</FONT>
	 </P>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Item 5.
		&nbsp;&nbsp; <U>Interest in Securities of the Issuer</U></B></FONT>
	 </P>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif"
		 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
		FACE="Times New Roman, Times, Serif"
		SIZE="2">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr.
		August beneficially owns 88,021 shares of Common Stock, which represents
		beneficial ownership of approximately 1.5% of the Company&#146;s outstanding
		Common Stock. This amount includes 85,000 shares of Common Stock issuable upon
		the exercise of options which are currently exercisable at a price of $6.35 per
		share. This amount excludes an aggregate of 2,200 shares of Common Stock held
		by Mr. August&#146;s adult children, over which they exercise exclusive
		investment and dispositive authority.</FONT>
	 </P>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif"
		 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
		FACE="Times New Roman, Times, Serif"
		SIZE="2">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr.
		August has sole power to vote and dispose of the shares of Common Stock,
		including the Common Stock issuable upon the exercise of options.</FONT>
	 </P>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif"
		 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
		FACE="Times New Roman, Times, Serif"
		SIZE="2">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr.
		August effected the following transactions during the past sixty days: </FONT>
	 </P>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif"
		 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
		FACE="Times New Roman, Times, Serif" SIZE="2">Between April 4, 2007 and April
		20, 2007, Mr. August executed the following sales in public markets:</FONT>
	 </P>
	 <TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
		<TR ALIGN="center">
		  <TD WIDTH="20%" ALIGN="left" VALIGN="top">&nbsp;</TD>
		  <TD WIDTH="20%" ALIGN="left" VALIGN="top"><STRONG><FONT SIZE="1"
			 FACE="Times New Roman, Times, serif"> Date </FONT></STRONG></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top"><STRONG><FONT SIZE="1"
			 FACE="Times New Roman, Times, serif"> Shares Sold </FONT></STRONG></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		  <TD WIDTH="1%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		  <TD ALIGN="right" VALIGN="top"><STRONG><FONT SIZE="1"
			 FACE="Times New Roman, Times, serif"> Price </FONT></STRONG></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		</TR>
		<TR ALIGN="center">
		  <TD ALIGN="left" VALIGN="top">&nbsp;</TD>
		  <TD ALIGN="left" VALIGN="top"><HR ALIGN="left" WIDTH="48" SIZE="1"
			 NOSHADE="NOSHADE"></TD>
		  <TD ALIGN="right" VALIGN="top"><HR ALIGN="right" WIDTH="50" SIZE="1"
			 NOSHADE="NOSHADE"></TD>
		  <TD ALIGN="right" VALIGN="top">&nbsp;</TD>
		  <TD COLSPAN="2" ALIGN="right" VALIGN="top"><HR ALIGN="right" SIZE="1"
			 NOSHADE="NOSHADE"></TD>
		  <TD ALIGN="right" VALIGN="top">&nbsp;</TD>
		</TR>
		<TR ALIGN="center">
		  <TD ALIGN="left" VALIGN="top">&nbsp;</TD>
		  <TD ALIGN="left" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 4/4/2007 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 4,400 </FONT></TD>
		  <TD ALIGN="right" VALIGN="top">&nbsp;</TD>
		  <TD WIDTH="1%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif">$</FONT></TD>
		  <TD WIDTH="6%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 6.917 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		</TR>
		<TR ALIGN="center">
		  <TD ALIGN="left" VALIGN="top">&nbsp;</TD>
		  <TD ALIGN="left" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 4/5/2007 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 2,000 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		  <TD WIDTH="1%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif">$</FONT></TD>
		  <TD WIDTH="7%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 6.895 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		</TR>
		<TR ALIGN="center">
		  <TD ALIGN="left" VALIGN="top">&nbsp;</TD>
		  <TD ALIGN="left" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 4/5/2007 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 1,100 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		  <TD WIDTH="1%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif">$</FONT></TD>
		  <TD WIDTH="7%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 6.857 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		</TR>
		<TR ALIGN="center">
		  <TD ALIGN="left" VALIGN="top">&nbsp;</TD>
		  <TD ALIGN="left" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 4/5/2007 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 100 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		  <TD WIDTH="1%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif">$</FONT></TD>
		  <TD WIDTH="7%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 6.800 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		</TR>
		<TR ALIGN="center">
		  <TD ALIGN="left" VALIGN="top">&nbsp;</TD>
		  <TD ALIGN="left" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 4/9/2007 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 3,400 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		  <TD WIDTH="1%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif">$</FONT></TD>
		  <TD WIDTH="7%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 6.898 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		</TR>
		<TR ALIGN="center">
		  <TD ALIGN="left" VALIGN="top">&nbsp;</TD>
		  <TD ALIGN="left" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 4/10/2007 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 2,800 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		  <TD WIDTH="1%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif">$</FONT></TD>
		  <TD WIDTH="7%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 6.974 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		</TR>
		<TR ALIGN="center">
		  <TD ALIGN="left" VALIGN="top">&nbsp;</TD>
		  <TD ALIGN="left" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 4/16/2007 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 4,500 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		  <TD WIDTH="1%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif">$</FONT></TD>
		  <TD WIDTH="7%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 6.899 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		</TR>
		<TR ALIGN="center">
		  <TD ALIGN="left" VALIGN="top">&nbsp;</TD>
		  <TD ALIGN="left" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 4/17/2007 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 2,800 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		  <TD WIDTH="1%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif">$</FONT></TD>
		  <TD WIDTH="7%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 6.889 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		</TR>
		<TR ALIGN="center">
		  <TD ALIGN="left" VALIGN="top">&nbsp;</TD>
		  <TD ALIGN="left" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 4/17/2007 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 1,300 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		  <TD WIDTH="1%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif">$</FONT></TD>
		  <TD WIDTH="7%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 6.895 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		</TR>
		<TR ALIGN="center">
		  <TD ALIGN="left" VALIGN="top">&nbsp;</TD>
		  <TD ALIGN="left" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 4/18/2007 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 3,900 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		  <TD WIDTH="1%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif">$</FONT></TD>
		  <TD WIDTH="7%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 6.963 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		</TR>
		<TR ALIGN="center">
		  <TD ALIGN="left" VALIGN="top">&nbsp;</TD>
		  <TD ALIGN="left" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 4/19/2007 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 1,000 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		  <TD WIDTH="1%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif">$</FONT></TD>
		  <TD WIDTH="7%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 6.740 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		</TR>
		<TR ALIGN="center">
		  <TD ALIGN="left" VALIGN="top">&nbsp;</TD>
		  <TD ALIGN="left" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 4/20/2007 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 2,079 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		  <TD WIDTH="1%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif">$</FONT></TD>
		  <TD WIDTH="7%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 6.807 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		</TR>
		<TR ALIGN="center">
		  <TD ALIGN="left" VALIGN="top">&nbsp;</TD>
		  <TD ALIGN="left" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 4/20/2007 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 1,500 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		  <TD WIDTH="1%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif">$</FONT></TD>
		  <TD WIDTH="7%" ALIGN="right" VALIGN="top"><FONT SIZE="2"
			 FACE="Times New Roman, Times, serif"> 6.795 </FONT></TD>
		  <TD WIDTH="20%" ALIGN="right" VALIGN="top">&nbsp;</TD>
		</TR>
	 </TABLE>
	 <P>
		&nbsp;
	 </P>
	 <HR NOSHADE="NOSHADE" SIZE="5">
	 <P STYLE="PAGE-BREAK-BEFORE: always">
	 </P>
	 <PAGE><BR>
	 <TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
		<TR ALIGN="center" VALIGN="middle">
		  <TD WIDTH="25%"
			STYLE="BORDER-BOTTOM:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000;"><FONT
			 FACE="Times New Roman, Times, serif" SIZE="2"><B>CUSIP No.
			 125919308</B>&nbsp;</FONT></TD>
		  <TD HEIGHT="36"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2"><B>SCHEDULE 13D</B></FONT></TD>
		  <TD WIDTH="25%"
			STYLE="BORDER-BOTTOM:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000;"><FONT
			 SIZE="2" FACE="Times New Roman, Times, serif"><B>Page 5 of 6
			 Pages</B></FONT></TD>
		</TR>
	 </TABLE>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif"
		 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
		FACE="Times New Roman, Times, Serif" SIZE="2">On April 20, 2007, Mr. August
		exercised options to purchase an aggregate of 175,000 shares of Common Stock,
		100,000 shares at an exercise price of $1.20 per share and 75,000 shares at an
		exercise price of $2.59 per share. On May 4, 2007, Mr. August sold 250,000
		shares of Common Stock in a private transaction at a price of $6.50 per share.
		</FONT>
	 </P>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif"
		 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
		FACE="Times New Roman, Times, Serif"
		SIZE="2">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
		as disclosed herein, no person other than Mr. August has any voting or
		dispositive power over the securities reported upon or the right to receive or
		direct the payment of any dividends or proceeds form the sale of such
		securities.</FONT>
	 </P>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif"
		 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
		FACE="Times New Roman, Times, Serif"
		SIZE="2">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
		May 4, 2007, the closing date of the private transaction in which Mr. August
		sold 250,000 shares of Common Stock, Mr. August ceased to be the beneficial
		owner of more than five percent of the Company&#146;s Common Stock.</FONT>
	 </P>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Item 6.
		&nbsp;&nbsp;&nbsp;<U>Contracts, Arrangements, Understandings or Relationships
		with Respect to the Securities of the Issuer</U></B></FONT>
	 </P>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif"
		 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
		FACE="Times New Roman, Times, Serif" SIZE="2">None.</FONT>
	 </P>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Item 7.
		&nbsp;&nbsp; <U>Material to be Filed as Exhibits.</U></B>
		&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>
	 </P>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif"
		 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
		None. </FONT>
	 </P>
	 <P>
		&nbsp;
	 </P>
	 <HR NOSHADE="NOSHADE" SIZE="5">
	 <P STYLE="PAGE-BREAK-BEFORE: always">
	 </P>
	 <PAGE><BR>
	 <TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
		<TR ALIGN="center" VALIGN="middle">
		  <TD WIDTH="25%"
			STYLE="BORDER-BOTTOM:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000;"><FONT
			 FACE="Times New Roman, Times, serif" SIZE="2"><B>CUSIP No.
			 125919308</B>&nbsp;</FONT></TD>
		  <TD HEIGHT="36"><FONT FACE="Times New Roman, Times, serif"
			 SIZE="2"><B>SCHEDULE 13D</B></FONT></TD>
		  <TD WIDTH="25%"
			STYLE="BORDER-BOTTOM:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000;"><FONT
			 SIZE="2" FACE="Times New Roman, Times, serif"><B>Page 6 of 6
			 Pages</B></FONT></TD>
		</TR>
	 </TABLE>
	 <P ALIGN="center">
		<FONT FACE="Times New Roman, Times, Serif"
		 SIZE="2"><B>SIGNATURE</B></FONT>
	 </P>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif"
		 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
		FACE="Times New Roman, Times, Serif" SIZE="2">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.</FONT>
	 </P>
	 <P>
		<FONT FACE="Times New Roman, Times, Serif"
		 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
		FACE="Times New Roman, Times, Serif" SIZE="2">Dated: May 16, 2007</FONT>
	 </P>
	 <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0">
		<TR>
		  <TD VALIGN="top" WIDTH="50%">&nbsp;</TD>
		  <TD VALIGN="top"><FONT FACE="Times New Roman, Times, Serif"
			 SIZE="2">/s/ Arthur
			 August&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
			 </FONT></TD>
		</TR>
		<TR>
		  <TD VALIGN="top">&nbsp;</TD>
		  <TD VALIGN="top"><HR ALIGN="left" WIDTH="110" SIZE="1"
			 NOSHADE="NOSHADE"></TD>
		</TR>
		<TR>
		  <TD VALIGN="top">&nbsp;</TD>
		  <TD VALIGN="top"><FONT FACE="Times New Roman, Times, Serif"
			 SIZE="2">ARTHUR AUGUST </FONT></TD>
		</TR>
	 </TABLE>
	 <P ALIGN="center">
		<FONT FACE="Times New Roman, Times, Serif"
		 SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
		</FONT>
	 </P>
	 <HR NOSHADE="NOSHADE" SIZE="5">

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