SEC FORM 3

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^*

Shapiro Howard

(Last)

(First)

(Middle)

199 LOGTOWN ROAD

(Street)

PORT JERVIS

12771

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
05/15/2007

3. Issuer Name and Ticker or Trading Symbol
PHANTOM FIBER CORP [ PHFB ]

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)

X	Form filed by One Reporting Person
	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, $.001 par value	465,000	D
Common Stock, $.001 par value	540,000	I	By Self as Trustee of Financial Trading Consultants Pension Plan

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)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	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)
Convertible Promissory Note	01/09/2006	01/09/2009	Common Stock, $.001 par value	110,000	$0.5	I	By Self as Trustee of Financial Trading Consultants Pension Plan
Conertible Promissory Note	01/09/2006	01/09/2009	Common Stock, $.001 par value	36,667	$0.5	I	By Self as Trustee of Merger Master Pension Plan
Convertible Promissory Note	01/09/2006	01/09/2009	Common Stock, $.001 par value	110,000	$0.5	D
Convertible Promissory Note	05/15/2007	05/15/2010	Common Stock, $.001 par value	66,667	$0.5	I	By Self as Trustee of Financial Trading Consultants Pension Plan
Convertible Promissory Note	05/15/2007	05/15/2010	Common Stock, $.001 par value	22,222	$0.5	I	By Self as Trustee of Merger Master Pension Plan
Convertible Promissory Note	05/15/2007	05/15/2010	Common Stock, $.001 par value	26,667	$0.5	D
Convertible Promissory Note	05/15/2007	05/15/2010	Common Stock, $.001 par value	13,333	$0.5	D
Common Stock Warrant	01/09/2006	01/09/2009	Common Stock, $.001 par value	55,000	$1.5	I	By Self as Trustee of Financial Trading Consultants Pension Plan
Common Stock Warrant	01/09/2006	01/09/2009	Common Stock, $.001 par value	55,000	$0.56	I	By Self as Trustee of Financial Trading Consultants Pension Plan
Common Stock Warrant	01/09/2006	01/09/2009	Common Stock, $.001 par value	36,667	$0.5	I	By Self as Trustee of Merger Master Pension Plan
Common Stock Warrant	01/09/2006	01/09/2009	Common Stock, $.001 par value	110,000	$0.5	D
Common Stock Warrant	05/15/2007	05/15/2010	Common Stock, $.001 par value	100,000	$0.5	I	By Self as Trustee of Financail Trading Consultants Pension Plan
Common Stock Warrant	05/15/2007	05/15/2010	Common Stock, $.001 par value	33,333	$0.5	I	By Self as Trustee of Merger Master Pension Plan
Common Stock Warrant	05/15/2007	05/15/2010	Common Stock, $.001 par value	40,000	$0.5	D
Common Stock Warrant	05/15/2007	05/15/2010	Common Stock, $.001 par value	20,000	$0.5	D

Explanation of Responses:

	Howard Shapiro	06/24/2007
	** 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.