Name of Issuer:  Somanetics Corp
Title of Class of Securities:  Common
Cusip:  834445405
Date of Event:  December 31, 2002

 1) Name of Reporting Person: BMI Capital Corporation
 2) Appropriate Box if a Member of a Group (b)
 3) SEC Use Only
 4) Place of Organization  Delaware
 5) Sole Voting Power 0
 6) Share Voting Power 0
 7) Sole Dispositive Power  985,000
 8) Shared Dispositive Power   0
 9) Aggregate Amount Beneficially owned by Each Reporting Person 985,000
12) Type of Reporting Person:  IA

Item 1:
a) Name of Issuer:                   Somanetics Corp.
b) Address of Issuers Business Office. 1653 E Maple Road
                                                            Troy, MI 48083
Item 2:
a)  Name of Person Filing:  	      BMI Capital Corporation

   b)  Address of Principal Office:       570 Lexington Avenue
					            New York, NY 10022

b)  Place of Organization:			Delaware

   d)  Title of Class of Securities       Common

   e)  Cusip                             834445405




Item 3:
   If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or
(c), check whether this person is a:

e)   An Investment Advisor in accordance with 240.13d-1 (b)(1)(ii)(E)

Item 4:
a) Amount beneficially owned: 985,000
b) Percent of class: 10.85%
c) Number of shares as to which the person has:
(iii) Sole power to dispose or to direct the disposition of 985,000

Item 10:   Certification
(b) The following certification shall be included if the statement is filed
 pursuant to 240.13d-1(b):

By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and are
held in the ordinary course of business and were not acquired
and are not held for the purpose of or with the effect of
changing or influencing the control of the issuer of the
securities and were not acquired and are not held in
connection with or as a participant in any transaction
having that purpose or effect.

After reasonable inquiry and to the best of my knowledge
and belief, I certify that the information set forth in this statement
is true, complete and correct

Date:  January 28, 2003
Vice President