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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 JtVSM/HKhSodxk4BEcQdXcApUmVNXJAD/+o9znRdVv4B+7Ua1x8EcDW38b3jPTtj
 0ow1NaUj41i/dGO+tbRxHA==

<SEC-DOCUMENT>0001005477-06-001543.txt : 20060303
<SEC-HEADER>0001005477-06-001543.hdr.sgml : 20060303
<ACCEPTANCE-DATETIME>20060303114609
ACCESSION NUMBER:		0001005477-06-001543
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060301
FILED AS OF DATE:		20060303
DATE AS OF CHANGE:		20060303

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PHASE III MEDICAL INC/DE
		CENTRAL INDEX KEY:			0000320017
		STANDARD INDUSTRIAL CLASSIFICATION:	INSURANCE CARRIERS, NEC [6399]
		IRS NUMBER:				222343568
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		330 SOUTH SERVICE ROAD
		STREET 2:		SUITE 120
		CITY:			MELVILLE
		STATE:			NY
		ZIP:			11747
		BUSINESS PHONE:		6315744955

	MAIL ADDRESS:	
		STREET 1:		330 SOUTH SERVICE ROAD
		STREET 2:		SUITE 120
		CITY:			MELVILLE
		STATE:			NY
		ZIP:			11747

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CORNICHE GROUP INC /DE
		DATE OF NAME CHANGE:	19951117

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIDELITY MEDICAL INC
		DATE OF NAME CHANGE:	19951025

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIDELITY MEDICAL SERVICES INC
		DATE OF NAME CHANGE:	19830825

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			May Larry Alan
		CENTRAL INDEX KEY:			0001354850

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-10909
		FILM NUMBER:		06662357

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		805-491-0379

	MAIL ADDRESS:	
		STREET 1:		11038 HILDRETH COURT
		CITY:			CAMARILLO
		STATE:			CA
		ZIP:			93012
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2006-03-01</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000320017</issuerCik>
        <issuerName>PHASE III MEDICAL INC/DE</issuerName>
        <issuerTradingSymbol>PHSM</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001354850</rptOwnerCik>
            <rptOwnerName>May Larry Alan</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O PHASE III MEDICAL, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>330 SOUTH SERVICE ROAD, SUITE 120</rptOwnerStreet2>
            <rptOwnerCity>MELVILLE</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>11747</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Financial Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, $.001 par value</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>239969</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>.18</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2003-09-11</value>
            </exerciseDate>
            <expirationDate>
                <value>2013-09-11</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, $.001 par value</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>300000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>.10</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2004-11-15</value>
            </exerciseDate>
            <expirationDate>
                <value>2014-11-15</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, $.001 par value</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>100000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>.05</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2016-01-19</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, $.001 par value</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>150000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">These options vest in three equal annual installments of 50,000 shares, beginning on January 19, 2007.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Larry A. May</signatureName>
        <signatureDate>2006-03-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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