SEC Form 5

FORM 5		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP 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: 3235-0362 Estimated average burden hours per response: 1.0
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
	Form 3 Holdings Reported.
X	Form 4 Transactions Reported.

1. Name and Address of Reporting Person* Sienna Limited Partnership III, L.P. (Last) (First) (Middle) 2330 MARINSHIP WAY SUITE 130 (Street) SAUSALITO CA 94965 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol SiVault Systems, Inc. [ SVTL.OB ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year) 12/31/2005
	4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)	4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
				Amount	(A) or (D)	Price
Common Stock	06/20/2005		S4	2,500(1)	D	$0.65	3,047,500	I	By Viaquo Corporation
Common Stock	06/20/2005		S4	7,500(1)	D	$0.61	3,040,000	I	By Viaquo Corporation
Common Stock	06/24/2005		S4	5,000(1)	D	$0.52	3,035,000	I	By Viaquo Corporation
Common Stock	06/24/2005		S4	4,500(1)	D	$0.52	3,030,500	I	By Viaquo Corporation
Common Stock	06/29/2005		S4	10,000(1)	D	$0.8	3,020,500	I	By Viaquo Corporation
Common Stock	06/30/2005		S4	10,000(1)	D	$0.83	3,010,500	I	By Viaquo Corporation
Common Stock	06/30/2005		S4	5,600(1)	D	$0.81	3,004,900	I	By Viaquo Corporation
Common Stock	07/01/2005		S4	7,500(1)	D	$0.7	2,997,400	I	By Viaquo Corporation
Common Stock	07/05/2005		S4	9,200(1)	D	$0.65	2,988,200	I	By Viaquo Corporation
Common Stock	07/12/2005		S4	10,000(1)	D	$0.49	2,978,200	I	By Viaquo Corporation
Common Stock	07/14/2005		S4	2,500(1)	D	$0.6	2,975,700	I	By Viaquo Corporation
Common Stock	07/15/2005		S4	10,000(1)	D	$0.68	2,965,700	I	By Viaquo Corporation
Common Stock	07/18/2005		S4	10,000(1)	D	$0.69	2,955,700	I	By Viaquo Corporation
Common Stock	07/18/2005		S4	10,000(1)	D	$0.66	2,945,700	I	By Viaquo Corporation
Common Stock	07/18/2005		S4	2,600(1)	D	$0.66	2,943,100	I	By Viaquo Corporation
Common Stock	07/26/2005		S4	10,000(1)	D	$0.45	2,933,100	I	By Viaquo Corporation
Common Stock	07/29/2005		S4	10,000(1)	D	$0.43	2,923,100	I	By Viaquo Corporation
Common Stock	08/01/2005		S4	10,000(1)	D	$0.48	2,913,100	I	By Viaquo Corporation

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)	5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
					(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* Sienna Limited Partnership III, L.P. (Last) (First) (Middle) 2330 MARINSHIP WAY SUITE 130 (Street) SAUSALITO CA 94965 (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* Sienna Associates III, L.L.C. (Last) (First) (Middle) 2330 MARINSHIP WAY, SUITE 130 (Street) SAUSALITO CA 94965 (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* SKAFF DANIEL L (Last) (First) (Middle) 2330 MARINSHIP WAY, SUITE 130 (Street) SAUSALITO CA 94965 (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* AMELIO GILBERT F (Last) (First) (Middle) 2330 MARINSHIP WAY, SUITE 130 (Street) SAUSALITO CA 94965 (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* Edwards Douglas Kevin (Last) (First) (Middle) 2330 MARINSHIP WAY, SUITE 130 (Street) SAUSALITO CA 94965 (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. The shares sold were owned directly by Viaquo Corporation. The reporting persons disclaim beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting persons are the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

	/s/ Douglas K. Edwards, Member of General Partner, on behalf of Sienna Limited Partnership III, L.P.	02/14/2006
	/s/ Douglas K. Edwards, Member, on behalf of Sienna Associates, L.L.C.	02/14/2006
	/s/ Daniel L. Skaff	02/14/2006
	/s/ Gilbert F. Amelio	02/14/2006
	/s/ Douglas K. Edwards	02/14/2006
	** 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 4 (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).
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