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^*

WACHTEL WILLIAM B

(Last)

(First)

(Middle)

110 EAST 59TH ST

(Street)

NEW YORK

10022

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
04/30/2007

3. Issuer Name and Ticker or Trading Symbol
FirstFlight, Inc. [ FFLT ]

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

X	Director	X	10% Owner
	Officer (give title below)	X	Other (specify below)
			Chairman of the Board

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	4,130,387	D
Common Stock	847,520	I	Euro American Investment Corporation⁽¹⁾
Common Stock	333,400	I	Wachtel & Masyr, LLP⁽²⁾

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)
Director Stock Option (right to buy)	12/13/2006	12/12/2010	Common Stock	25,000	$0.64	D
Director Stock Option (right to buy)	04/19/2008	04/18/2012	Common Stock	25,000	$0.36	D
Warrant (right to buy)	⁽⁴⁾	03/31/2010	Common Stock	208,336	$0.6	D
Warrant (right to buy)	⁽⁴⁾	09/22/2010	Common Stock	800,000	$0.6	I	Airport Capital, LLC⁽³⁾
Warrant (right to buy)	⁽⁴⁾	08/31/2011	Common Stock	750,000	$1	D
Warrant (right to buy)	⁽⁴⁾	08/31/2011	Common Stock	200,000	$1	I	Wachtel & Masyr, LLP⁽²⁾

Explanation of Responses:

1. The reporting person is the sole stockholder, director and officer of this corporation.

2. This filing shall not be deemed an admission that the reporting person is, for purposes of Section 16 of the Exchange Act or otherwise, the beneficial owner of such securities. The reporting person also disclaims beneficial ownership of these shares and this warrant because he does not have sole dispositive or voting power with respect thereto.

3. The reporting person has the right to exercise as to 800,000 of the 1,200,000 shares subject to this warrant.

4. Immediately.

	William B. Wachtel	05/02/2007
	** 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.