UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G
                    Under the Securities Exchange Act of 1934

                                 Amendment No.:

                            Name of Issuer: ULURU INC

           Title of Class of Securities: COMMON STOCK, $0.01 PAR VALUE

                             CUSIP Number: 90403T100

    Date of Event Which Requires Filing of This Statement: December 31, 2006

     Check the appropriate box to designate the rule pursuant to which this
     Schedule is filed:

                                [x] Rule 13d-1(b)
                                [ ] Rule 13d-1(c)
                                [ ] Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).





1.      Name of Reporting Person and S.S. or I.R.S. Identification No of Above
        Person: Pequot Capital Management, Inc.

        Tax ID:                          06-1524885

2. Check the Appropriate Box if a Member of a Group

        a. [ ]
        b. [ ]

3. SEC Use Only

4. Citizenship or Place of Organization:

        Connecticut

Number of
 Shares         5               Sole Voting Power:
                                    6,803,325
Beneficially
 Owned By       6               Shared Voting Power:
   Each                                 0

Reporting       7.              Sole Dispositive Power:
 Person                              7,377,221
  With
                8.              Shared Dispositive Power:
                                        0

9.  Aggregate Amount Beneficially Owned by Each Reporting Person:

                                    7,377,221

10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares:

11. Percent of Class Represented by Amount in Row (9):

                                      12.3%

12. Type of Reporting Person:

                                     IA, CO



Item 1(a) Name of Issuer:  Uluru Inc (the "Issuer")

     1(b) Address of Issuer's Principal Executive Offices: 4452 Beltway Dr.,
          Addison, Texas 75001

Item 2(a)-(c). Name, Principal Business Address, and Citizenship of Persons
               Filing:

               Pequot Capital Management, Inc., 500 Nyala Farm Road, Westport,
               CT, 06880, which is a Connecticut corporation.

     (d) Title of Class of Securities:

         COMMON STOCK, $0.01 PAR VALUE PER SHARE

     (e) CUSIP Number: 90403T100

Item 3. This statement is filed pursuant to Rule 13d-1(b)(1)(ii)(E).
        Pequot Capital Management, Inc. is an investment adviser registered
        under Section 203 of the Investment Advisers Act of 1940.

Item 4. Ownership.

        Ownership as of December 31, 2006 is incorporated herein by reference
        from items (5) - (9) and (11) of the cover page of the Reporting
        Person.

Item 5. Ownership of Five Percent or Less of a Class.

          Not applicable.

Item 6. Ownership of More than Five Percent on Behalf of Another Person.

     The Reporting Person is an investment adviser registered under Section 203
of the Investment Advisers Act of 1940 and, as such, has beneficial ownership of
the shares which are the subject of this filing through the investment
discretion the reporting person exercises over its clients' accounts. Although
such accounts do not have beneficial ownership of such shares for purposes of
Section 13 and Section 16 of the Securities Exchange Act of 1934, one account of
the Reporting Person, Pequot Healthcare Fund, L.P., owns of record more than 5%
of the Issuer's outstanding shares.

Item 7. Identification and Classification of the Subsidiary Which Acquired the
        Security Being Reported by the Parent Holding Company.

        Not applicable.

Item 8. Identification and Classification of Members of the Group.

        Not applicable.





Item 9. Notice of Dissolution of the Group.

        Not applicable.

Item 10.

     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 or
with the effect of changing or influencing the control of the issuer of such
securities and were not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.







                                   SIGNATURES

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

Date: January 10, 2007

                                        By: /s/  Aryeh Davis
                                        ----------------------------------------
                                        Title:   Chief Operating Officer,
                                                 General Counsel and Secretary