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^*

CCM MASTER QUALIFIED FUND LTD

(Last)

(First)

(Middle)

C/O MORGAN STANLEY FUND SERVICES (CAYMAN

LTD CENTURY YARD CRICKET SQ HUTCHINGS DR

(Street)

PO BOX 2681 GEORGE TOWN

00000

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/13/2010

3. Issuer Name and Ticker or Trading Symbol
WORKSTREAM INC [ WSTM ]

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	383,233,209	D
Common Stock	383,233,209⁽¹⁾	I	Indirectly by Coghill Capital Management, LLC and Clint D. Coghill⁽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)
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)
Warrants	07/31/2012⁽²⁾	07/31/2012⁽²⁾	Common Stock	1,875,000⁽²⁾	$0.1	D
Warrants	07/31/2012⁽²⁾	07/31/2012⁽²⁾	Common Stock	1,875,000⁽¹⁾⁽²⁾	$0.1	I	Indirectly by Coghill Capital Management, LLC and Clint D. Coghill⁽¹⁾

1. Name and Address of Reporting Person^*

CCM MASTER QUALIFIED FUND LTD

(Last)

(First)

(Middle)

C/O MORGAN STANLEY FUND SERVICES (CAYMAN

LTD CENTURY YARD CRICKET SQ HUTCHINGS DR

(Street)

PO BOX 2681 GEORGE TOWN

00000

(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^*

COGHILL CAPITAL MANAGEMENT LLC

(Last)

(First)

(Middle)

1 N WACKER DR

STE 4350

(Street)

CHICAGO

60606

(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^*

COGHILL CLINT D

(Last)

(First)

(Middle)

(Street)

(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. These securities may be deemed to be beneficially owned by Coghill Capital Management, L.L.C. ("CCM"), the investment manager of CCM Master Qualified Fund, Ltd. (the "Master Fund"). These securities may also be deemed to be beneficially owned by Clint Coghill, the President and majority owner of CCM. Each of CCM and Mr. Coghill disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

2. The Warrants are subject to restrictions on their exercise so long as the Reporting Persons beneficially own more than 9.99% of the Issuer's Shares. A copy of the form of Warrant is filed with the Issuer's Form 8-K filed on September 5, 2008.

	CCM Master Qualified Fund, Ltd	08/23/2010
	Coghill Capital Management, LLC	08/23/2010
	Clint D. Coghill	08/23/2010
	** 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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