SEC FORM 3/A

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^*

Platinum Partners Value Arbitrage Fund, LP

(Last)

(First)

(Middle)

250 WEST 55TH STREET

14TH FLOOR

(Street)

NEW YORK

10019

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
04/06/2016

3. Issuer Name and Ticker or Trading Symbol
IMPLANT SCIENCES CORP [ IMSC ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director		10% Owner
Officer (give title below)	X	Other (specify below)
		Not subject to reporting

5. If Amendment, Date of Original Filed (Month/Day/Year)
04/18/2016

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 par value $0.10	2,081,829⁽¹⁾	I	By MONTSANT PARTNERS, LLC

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)
March 2009 Note	⁽¹⁾	⁽¹⁾	Series J Preferred Stock	⁽¹⁾	⁽¹⁾	I	By MONTSANT PARTNERS, LLC
March 2009 Note	⁽¹⁾	⁽¹⁾	Common Stock, par value $0.10	⁽¹⁾	⁽¹⁾	I	By MONTSANT PARTNERS, LLC
September 2012 Note	⁽¹⁾	⁽¹⁾	Series H Preferred Stock	⁽¹⁾	⁽¹⁾	I	By DMRJ GROUP LLC
September 2012 Note	⁽¹⁾	⁽¹⁾	Common Stock, par value $0.10	⁽¹⁾	⁽¹⁾	I	By DMRJ GROUP LLC
February 2013 Note	⁽¹⁾	⁽¹⁾	Series I Preferred Stock	⁽¹⁾	⁽¹⁾	I	By DMRJ GROUP LLC
February 2013 Note	⁽¹⁾	⁽¹⁾	Common Stock, par value $0.10	⁽¹⁾	⁽¹⁾	I	By DMRJ GROUP LLC

1. Name and Address of Reporting Person^*

Platinum Partners Value Arbitrage Fund, LP

(Last)

(First)

(Middle)

250 WEST 55TH STREET

14TH FLOOR

(Street)

NEW YORK

10019

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director		10% Owner
Officer (give title below)	X	Other (specify below)
		Not subject to reporting

1. Name and Address of Reporting Person^*

Platinum Management (NY) LLC

(Last)

(First)

(Middle)

250 WEST 55TH STREET

(Street)

NEW YORK

10019

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director		10% Owner
Officer (give title below)	X	Other (specify below)
		Not subject to reporting

1. Name and Address of Reporting Person^*

DMRJ GROUP LLC

(Last)

(First)

(Middle)

250 WEST 55TH STREET, 14TH FLOOR

(Street)

NEW YORK

10019

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director		10% Owner
Officer (give title below)	X	Other (specify below)
		Not subject to reporting

1. Name and Address of Reporting Person^*

MONTSANT PARTNERS, LLC

(Last)

(First)

(Middle)

250 WEST 55TH STREET, 14TH FLOOR

(Street)

NEW YORK

10019

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director		10% Owner
Officer (give title below)	X	Other (specify below)
		Not subject to reporting

1. Name and Address of Reporting Person^*

Nordlicht Mark

(Last)

(First)

(Middle)

250 WEST 55TH STREET

(Street)

NEW YORK

10019

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director		10% Owner
Officer (give title below)	X	Other (specify below)
		Not subject to reporting

Explanation of Responses:

1. This amendment is being filed to correct erroneous statements in the Form 3 filed on April 18, 2016 (the "Original Form 3") indicating that the Reporting Persons had certain reportable beneficial ownership of the securities and underlying securities noted above. The Reporting Persons do not and have not beneficially owned 10% or more of any class of equity securities of Implant Sciences Corp registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended, and, accordingly, are not and have not been Section 16 Reporting Persons with respect to the Issuer. Accordingly, none of the Reporting Persons currently have or have had at any time from (and including) the date of the event reported on the Original Form 3, any obligation to report beneficial ownership on this Form, and the Form has been amended to so reflect.

	/s/ Joseph SanFilippo, Attorney-in-Fact	07/19/2016
	** 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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