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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 A/zWqkHUJvc+Qj3XbyopsQLxftIVRSr/vt9BjtlikLizc9j5lbGvd1Di0OK5DUKi
 NkbCBCdLkDwk78YwLoIEtw==

<SEC-DOCUMENT>0000947871-06-000974.txt : 20060518
<SEC-HEADER>0000947871-06-000974.hdr.sgml : 20060518
<ACCEPTANCE-DATETIME>20060518163634
ACCESSION NUMBER:		0000947871-06-000974
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060515
FILED AS OF DATE:		20060518
DATE AS OF CHANGE:		20060518

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LIPID SCIENCES INC/
		CENTRAL INDEX KEY:			0000071478
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				430433090
		STATE OF INCORPORATION:			AZ
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		7068 KOLL CENTER PARKWAY
		STREET 2:		SUITE 401
		CITY:			PLEASANTON
		STATE:			CA
		ZIP:			94566
		BUSINESS PHONE:		925-249-4000

	MAIL ADDRESS:	
		STREET 1:		7068 KOLL CENTER PARKWAY
		STREET 2:		SUITE 401
		CITY:			PLEASANTON
		STATE:			CA
		ZIP:			94566

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NZ CORP
		DATE OF NAME CHANGE:	20000810

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NEW MEXICO & ARIZONA LAND CO
		DATE OF NAME CHANGE:	19920703

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Crawford John E
		CENTRAL INDEX KEY:			0001363291

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-00497
		FILM NUMBER:		06852525

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		9252494000

	MAIL ADDRESS:	
		STREET 1:		7068 KOLL CENTER PARKWAY, SUITE 401
		CITY:			PLEASANTON
		STATE:			CA
		ZIP:			94566
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>form3_051706-crawfordex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2006-05-15</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000071478</issuerCik>
        <issuerName>LIPID SCIENCES INC/</issuerName>
        <issuerTradingSymbol>LIPD</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001363291</rptOwnerCik>
            <rptOwnerName>Crawford John E</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>7068 KOLL CENTER PARKWAY, SUITE 401</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>PLEASANTON</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94566</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.61</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2016-05-14</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>80000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The option vests with respect to 1/3 of the shares on each of May 15, 2006, May 15, 2007 and May 15, 2008.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>John E. Crawford</signatureName>
        <signatureDate>2006-05-15</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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