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

OMB APPROVAL OMB Number: 3235-0104 Estimated average burden hours per response: 0.5

1. Name and Address of Reporting Person* AENEAS CAPITAL MANAGEMENT LP (Last) (First) (Middle) 105 SOUTH BEDFORD ROAD SUITE 310 (Street) MT KISCO NY 10549 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 07/05/2006	3. Issuer Name and Ticker or Trading Symbol GLOBAL INNOVATIVE SYSTEMS INC [ GBSY ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X 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)
Common Stock	3,893,739(2)	I(1)	Through Aeneas Portfolio Company, LP(3)
Common Stock	1,039,584(2)	I(1)	Through Aeneas Separate Account Ltd.(4)

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

1. Name and Address of Reporting Person* AENEAS CAPITAL MANAGEMENT LP (Last) (First) (Middle) 105 SOUTH BEDFORD ROAD SUITE 310 (Street) MT KISCO NY 10549 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Grossman Thomas R (Last) (First) (Middle) 105 S. BEDFORD ROAD SUITE 310 (Street) MT. KISCO NY 10549 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Aeneas Separate Account Ltd. (Last) (First) (Middle) C/O WALKERS SPV LIMITED (Street) GEORGETOWN, GRAND CAYMAN E9 BWI (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Aeneas Portfolio Company, LP (Last) (First) (Middle) C/O WALKERS SPV LIMITED (Street) GEORGETOWN, GRAND CAYMAN E9 BWI (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. This Form 3 is being filed by the undersigned as well as the entities listed on the Joint Filer Information Statement attached as an exhibit hereto (the "Reporting Persons").

2. Reflects number of shares owned immediately following the event that required the filing of this statement.

3. Aeneas Capital Management, LP is the investment manager of Aeneas Portfolio Company LP. Thomas R. Grossman controls Aeneas Capital Management, LP. In accordance with Instruction 5(b)(iv) to Form 3, the entire amount of the Issuer's securities held by Aeneas Portfolio Company, LP is reported herein. For purposes of Section 16 of the Securities Exchange Act of 1934, each Reporting Person disclaims beneficial ownership of any such securities, except to the extent of his/its indirect pecuniary interest therein, if any, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or otherwise.

4. Aeneas Capital Management, LP is the investment manager of Aeneas Separate Account Ltd. Thomas R. Grossman controls Aeneas Capital Management, LP. In accordance with Instruction 5(b)(iv) to Form 3, the entire amount of the Issuer's securities held by Aeneas Separate Account Ltd. is reported herein. For purposes of Section 16 of the Securities Exchange Act of 1934, each Reporting Person disclaims beneficial ownership of any such securities, except to the extent of his/its indirect pecuniary interest therein, if any, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or otherwise.

	/s/ John Suglia	10/17/2006
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.