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^*

JOHN J HAGENBUCH TRUSTEE UDT

(Last)

(First)

(Middle)

353 SACRAMENTO ST, 21ST FLOOR

(Street)

SAN FRANCISCO

94111

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
04/21/2005

3. Issuer Name and Ticker or Trading Symbol
MICROISLET INC [ MIIS ]

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

X	Director	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)

X	Form filed by One Reporting Person
	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	3,105,972	I	See notes⁽¹⁾⁽²⁾⁽³⁾

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)
Warrant (right to buy)	10/31/2003	10/31/2006	Common Stock	528,880	$1	I	See note⁽¹⁾
Warrant (right to buy)	04/11/2003	04/11/2013	Common Stock	50,000	$1.49	I	See note⁽¹⁾
Warrant (right to buy)	05/12/2003	05/12/2013	Common Stock	50,000	$0.85	I	See note⁽¹⁾
Warrant (right to buy)	08/26/2003	08/26/2013	Common Stock	100,000	$0.5	I	See note⁽¹⁾

Explanation of Responses:

1. John Hagenbuch, Trustee U/D/T September 13, 1995, a trust of which the reporting person is the trustee, holds 1,337,200 shares and warrants to purchase 728,880 shares. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

2. Jackson Street Partners, of which the reporting person is the managing partner, holds 1,758,772 shares. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

3. The reporting person's minor children hold 10,000 shares. The reporting person may be deemed to hold shared voting and dispositive power with respect to these shares with his spouse.

	/s/ John J. Hagenbuch	04/21/2005
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.