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

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1. Name and Address of Reporting Person* AUSTIN JOSIAH T (Last) (First) (Middle) 4673 CHRISTOPHER PLACE (Street) DALLAS TX 75204 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 12/10/2012	3. Issuer Name and Ticker or Trading Symbol Protea Biosciences Group, Inc. [ NONE ]
		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	2,136,044	I	As Managing Member of El Coronado Holdings, LLC
Common Stock	2,136,044	D(1)

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
Warrant	05/31/2011	05/31/2016	Common Stock	100,000	$2	I	As Managing Member of El Coronado Holdings, LLC
Warrant	11/20/2012	11/20/2017	Common Stock	450,000	$1.1	I	As Managing Member of El Coronado Holdings, LLC
Warrant	11/29/2012	11/29/2017	Common Stock	300,000	$1.1	I	As Managing Member of El Coronado Holdings, LLC
Warrant	12/10/2012	12/10/2017	Common Stock	750,000	$1.1	I	As Managing Member of El Coronado Holdings, LLC
Warrant	05/31/2011	05/31/2016	Common Stock	100,000	$2	D(2)
Warrant	11/20/2012	11/20/2017	Common Stock	450,000	$1.1	D(2)
Warrant	11/29/2012	11/29/2017	Common Stock	300,000	$1.1	D(2)
Warrant	12/10/2012	12/10/2017	Common Stock	750,000	$1.1	D(2)

1. Name and Address of Reporting Person* AUSTIN JOSIAH T (Last) (First) (Middle) 4673 CHRISTOPHER PLACE (Street) DALLAS TX 75204 (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* El Coronado Holdings, LLC (Last) (First) (Middle) 4673 CHRISTOPHER PLACE (Street) DALLAS TX 75204 (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. Represents the shares of common stock of the issuer owned of record by El Coronado Holdings, LLC.

2. Represents warrants to purchase shares of common stock of the issuer owned of record by El Coronado Holdings, LLC.

	/s/ Josiah T. Austin	12/20/2012
	/s/ Josiah T. Austin, as Managing Member of El Coronado Holdings, LLC	12/20/2012
	** 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).
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