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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No.         )*

Quantum Fuel Systems Technologies Worldwide Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

74765E109

(CUSIP Number)

December 31, 2007

(Date of Event Which Requires Filing of this Statement)

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

x Rule 13d-1(b)

x 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).

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

Page 1 of 21

CUSIP No. 74765E109 13G

1	NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).             Whitebox Advisors, LLC
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)  ¨ (b)  x
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION             Delaware

NUMBER OF   SHARES   BENEFICIALLY   OWNED BY   EACH   REPORTING   PERSON   WITH:	5    SOLE VOTING POWER             0
	6    SHARED VOTING POWER             5,070,000
	7    SOLE DISPOSITIVE POWER             0
	8    SHARED DISPOSITIVE POWER             5,070,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON             5,070,000 (see Item 4)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)             6.3%
12	TYPE OF REPORTING PERSON*             IA

*SEE INSTRUCTION BEFORE FILLING OUT!

Page 2 of 21

CUSIP No. 74765E109 13G

1	NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).             Whitebox Convertible Arbitrage Advisors, LLC
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)  ¨ (b)  x
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION             Delaware

NUMBER OF   SHARES   BENEFICIALLY   OWNED BY   EACH   REPORTING   PERSON   WITH:	5    SOLE VOTING POWER             0
	6    SHARED VOTING POWER             2,873,000
	7    SOLE DISPOSITIVE POWER             0
	8    SHARED DISPOSITIVE POWER             2,873,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON             2,873,000 (see Item 4)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)             3.6%
12	TYPE OF REPORTING PERSON*             IA

*SEE INSTRUCTION BEFORE FILLING OUT!

Page 3 of 21

CUSIP No. 74765E109 13G

1	NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).             Whitebox Convertible Arbitrage Partners, L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)  ¨ (b)  x
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION             British Virgin Islands

NUMBER OF   SHARES   BENEFICIALLY   OWNED BY   EACH   REPORTING   PERSON   WITH:	5    SOLE VOTING POWER             0
	6    SHARED VOTING POWER             2,873,000
	7    SOLE DISPOSITIVE POWER             0
	8    SHARED DISPOSITIVE POWER             2,873,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON             2,873,000 (see Item 4)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)             3.6%
12	TYPE OF REPORTING PERSON*             PN

*SEE INSTRUCTION BEFORE FILLING OUT!

Page 4 of 21

CUSIP No. 74765E109 13G

1	NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).             Whitebox Convertible Arbitrage Fund, L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)  ¨ (b)  x
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION             Delaware

NUMBER OF   SHARES   BENEFICIALLY   OWNED BY   EACH   REPORTING   PERSON   WITH:	5    SOLE VOTING POWER             0
	6    SHARED VOTING POWER             2,873,000
	7    SOLE DISPOSITIVE POWER             0
	8    SHARED DISPOSITIVE POWER             2,873,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON             2,873,000 (see Item 4)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)             3.6%
12	TYPE OF REPORTING PERSON*             PN

*SEE INSTRUCTION BEFORE FILLING OUT!

Page 5 of 21

CUSIP No. 74765E109 13G

1	NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).             Whitebox Convertible Arbitrage Fund, Ltd.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)  ¨ (b)  x
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION             British Virgin Islands

NUMBER OF   SHARES   BENEFICIALLY   OWNED BY   EACH   REPORTING   PERSON   WITH:	5    SOLE VOTING POWER             0
	6    SHARED VOTING POWER             2,873,000
	7    SOLE DISPOSITIVE POWER             0
	8    SHARED DISPOSITIVE POWER             2,873,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON             2,873,000 (see Item 4)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)             3.6%
12	TYPE OF REPORTING PERSON*             CO

*SEE INSTRUCTION BEFORE FILLING OUT!

Page 6 of 21

CUSIP No. 74765E109 13G

1	NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).             Whitebox Intermarket Advisors, LLC
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)  ¨ (b)  x
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION             Delaware

NUMBER OF   SHARES   BENEFICIALLY   OWNED BY   EACH   REPORTING   PERSON   WITH:	5    SOLE VOTING POWER             0
	6    SHARED VOTING POWER             338,000
	7    SOLE DISPOSITIVE POWER             0
	8    SHARED DISPOSITIVE POWER             338,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON             338,000 (see Item 4)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)             0.4%
12	TYPE OF REPORTING PERSON*             IA

*SEE INSTRUCTION BEFORE FILLING OUT!

Page 7 of 21

CUSIP No. 74765E109 13G

1	NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).             Whitebox Intermarket Partners, L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)  ¨ (b)  x
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION             British Virgin Islands

NUMBER OF   SHARES   BENEFICIALLY   OWNED BY   EACH   REPORTING   PERSON   WITH:	5    SOLE VOTING POWER             0
	6    SHARED VOTING POWER             338,000
	7    SOLE DISPOSITIVE POWER             0
	8    SHARED DISPOSITIVE POWER             338,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON             338,000 (see Item 4)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)             0.4%
12	TYPE OF REPORTING PERSON*             PN

*SEE INSTRUCTION BEFORE FILLING OUT!

Page 8 of 21

CUSIP No. 74765E109 13G

1	NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).             Whitebox Intermarket Fund, L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)  ¨ (b)  x
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION             Delaware

NUMBER OF   SHARES   BENEFICIALLY   OWNED BY   EACH   REPORTING   PERSON   WITH:	5    SOLE VOTING POWER             0
	6    SHARED VOTING POWER             338,000
	7    SOLE DISPOSITIVE POWER             0
	8    SHARED DISPOSITIVE POWER             338,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON             338,000 (see Item 4)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)             0.4%
12	TYPE OF REPORTING PERSON*             PN

*SEE INSTRUCTION BEFORE FILLING OUT!

Page 9 of 21

CUSIP No. 74765E109 13G

1	NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).             Whitebox Intermarket Fund, Ltd.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)  ¨ (b)  x
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION             British Virgin Islands

NUMBER OF   SHARES   BENEFICIALLY   OWNED BY   EACH   REPORTING   PERSON   WITH:	5    SOLE VOTING POWER             0
	6    SHARED VOTING POWER             338,000
	7    SOLE DISPOSITIVE POWER             0
	8    SHARED DISPOSITIVE POWER             338,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON             338,000 (see Item 4)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)             0.4%
12	TYPE OF REPORTING PERSON*             CO

*SEE INSTRUCTION BEFORE FILLING OUT!

Page 10 of 21

CUSIP No. 74765E109 13G

1	NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).             Pandora Select Advisors, LLC
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)  ¨ (b)  x
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION             Delaware

NUMBER OF   SHARES   BENEFICIALLY   OWNED BY   EACH   REPORTING   PERSON   WITH:	5    SOLE VOTING POWER             0
	6    SHARED VOTING POWER             507,000
	7    SOLE DISPOSITIVE POWER             0
	8    SHARED DISPOSITIVE POWER             507,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON             507,000 (see Item 4)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)             0.6%
12	TYPE OF REPORTING PERSON*             IA

*SEE INSTRUCTION BEFORE FILLING OUT!

Page 11 of 21

CUSIP No. 74765E109 13G

1	NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).             Pandora Select Partners, L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)  ¨ (b)  x
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION             British Virgin Islands

NUMBER OF   SHARES   BENEFICIALLY   OWNED BY   EACH   REPORTING   PERSON   WITH:	5    SOLE VOTING POWER             0
	6    SHARED VOTING POWER             507,000
	7    SOLE DISPOSITIVE POWER             0
	8    SHARED DISPOSITIVE POWER             507,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON             507,000 (see Item 4)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)             0.6%
12	TYPE OF REPORTING PERSON*             PN

*SEE INSTRUCTION BEFORE FILLING OUT!

Page 12 of 21

CUSIP No. 74765E109 13G

1	NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).             Pandora Select Fund, L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)  ¨ (b)  x
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION             Delaware

NUMBER OF   SHARES   BENEFICIALLY   OWNED BY   EACH   REPORTING   PERSON   WITH:	5    SOLE VOTING POWER             0
	6    SHARED VOTING POWER             507,000
	7    SOLE DISPOSITIVE POWER             0
	8    SHARED DISPOSITIVE POWER             507,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON             507,000 (see Item 4)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)             0.6%
12	TYPE OF REPORTING PERSON*             PN

*SEE INSTRUCTION BEFORE FILLING OUT!

Page 13 of 21

CUSIP No. 74765E109 13G

1	NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).             Pandora Select Fund, Ltd.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)  ¨ (b)  x
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION             British Virgin Islands

NUMBER OF   SHARES   BENEFICIALLY   OWNED BY   EACH   REPORTING   PERSON   WITH:	5    SOLE VOTING POWER             0
	6    SHARED VOTING POWER             507,000
	7    SOLE DISPOSITIVE POWER             0
	8    SHARED DISPOSITIVE POWER             507,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON             507,000 see Item 4)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)             0.6%
12	TYPE OF REPORTING PERSON*             CO

*SEE INSTRUCTION BEFORE FILLING OUT!

Page 14 of 21

CUSIP No. 74765E109 13G

1	NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).             Whitebox Hedged High Yield Advisors, LLC
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)  ¨ (b)  x
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION             Delaware

NUMBER OF   SHARES   BENEFICIALLY   OWNED BY   EACH   REPORTING   PERSON   WITH:	5    SOLE VOTING POWER             0
	6    SHARED VOTING POWER             1,352,000
	7    SOLE DISPOSITIVE POWER             0
	8    SHARED DISPOSITIVE POWER             1,352,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON             1,352,000 (see Item 4)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)             1.7%
12	TYPE OF REPORTING PERSON*             IA

*SEE INSTRUCTION BEFORE FILLING OUT!

Page 15 of 21

CUSIP No. 74765E109 13G

1	NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).             Whitebox Hedged High Yield Partners, L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)  ¨ (b)  x
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION             British Virgin Islands

NUMBER OF   SHARES   BENEFICIALLY   OWNED BY   EACH   REPORTING   PERSON   WITH:	5    SOLE VOTING POWER             0
	6    SHARED VOTING POWER             1,352,000
	7    SOLE DISPOSITIVE POWER             0
	8    SHARED DISPOSITIVE POWER             1,352,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON             1,352,000 (see Item 4)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)             1.7%
12	TYPE OF REPORTING PERSON*             PN

*SEE INSTRUCTION BEFORE FILLING OUT!

Page 16 of 21

CUSIP No. 74765E109 13G

1	NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).             Whitebox Hedged High Yield Fund, L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)  ¨ (b)  x
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION             Delaware

NUMBER OF   SHARES   BENEFICIALLY   OWNED BY   EACH   REPORTING   PERSON   WITH:	5    SOLE VOTING POWER             0
	6    SHARED VOTING POWER             1,352,000
	7    SOLE DISPOSITIVE POWER             0
	8    SHARED DISPOSITIVE POWER             1,352,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON             1,352,000 (see Item 4)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)             1.7%
12	TYPE OF REPORTING PERSON*             PN

*SEE INSTRUCTION BEFORE FILLING OUT!

Page 17 of 21

CUSIP No. 74765E109 13G

1	NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).             Whitebox Hedged High Yield Fund, Ltd.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)  ¨ (b)  x
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION             British Virgin Islands

NUMBER OF   SHARES   BENEFICIALLY   OWNED BY   EACH   REPORTING   PERSON   WITH:	5    SOLE VOTING POWER             0
	6    SHARED VOTING POWER             1,352,000
	7    SOLE DISPOSITIVE POWER             0
	8    SHARED DISPOSITIVE POWER             1,352,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON             1,352,000 (see Item 4)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)             1.7%
12	TYPE OF REPORTING PERSON*             CO

*SEE INSTRUCTION BEFORE FILLING OUT!

Page18 of 21

Item 1.	(a)	Name of Issuer
		Quantum Fuel Systems Technologies Worldwide Inc. (the “Company”)
	(b)	Address of Issuer’s Principal Executive Offices
		17872 Cartwright Road Irvine, CA 92614
Item 2.	(a)	Name of Person Filing
		This statement is filed by:
		(i)	Whitebox Advisors, LLC, a Delaware limited liability company (“WA”);
		(ii)	Whitebox Convertible Arbitrage Advisors, LLC, a Delaware limited liability company (“WCAA”);
		(iii)	Whitebox Convertible Arbitrage Partners, L.P., a British Virgin Islands limited partnership (“WCAP”);
		(iv)	Whitebox Convertible Arbitrage Fund, L.P., a Delaware limited partnership (“WCAFLP”);
		(v)	Whitebox Convertible Arbitrage Fund, Ltd., a British Virgin Islands business company (“WCAFLTD”);
		(vi)	Whitebox Intermarket Advisors, LLC, a Delaware limited liability company (“WIA”);
		(vii)	Whitebox Intermarket Partners, L.P., a British Virgin Islands limited partnership (“WIP”);
		(viii)	Whitebox Intermarket Fund, L.P., a Delaware limited partnership (“WIFLP”);
		(ix)	Whitebox Intermarket Fund, Ltd., a British Virgin Islands business company (“WIFLTD”);
		(x)	Pandora Select Advisors, LLC, a Delaware limited liability company (“PSA”);
		(xi)	Pandora Select Partners, L.P., a British Virgin Islands limited partnership (“PSP”);
		(xii)	Pandora Select Fund, L.P., a Delaware limited partnership (“PSFLP”);
		(xiii)	Pandora Select Fund, Ltd., a British Virgin Islands business company (“PSFLTD”);
		(xiv)	Whitebox Hedged High Yield Advisors, LLC, a Delaware limited liability company (“WHHYA”);
		(xv)	Whitebox Hedged High Yield Partners, L.P., a British Virgin Islands business company (“WHHYP”);
		(xvi)	Whitebox Hedged High Yield Fund, L.P., a Delaware limited partnership (“WHHYFLP”); and
		(xvii)	Whitebox Hedged High Yield Fund, Ltd., a British Virgin Islands business company (“WHHYFLTD”).
	(b)	Address of Principal Business Office or, if none, Residence
		The address of the business office of WA, WCAA, PSA, WHHYA, WIA, WCAFLP, PSFLP, WHHYFLP and WIFLP is:
		3033 Excelsior Boulevard Suite 300 Minneapolis, MN 55416
		The address of the business office of WCAP, WCAFLTD, PSP, WIP, WIFLTD, WHHYP, WHHYFLTD, and PSFLTD is:
		Trident Chambers, P.O. Box 146 Waterfront Drive, Wickhams Cay Road Town, Tortola, British Virgin Islands
	(c)	Citizenship
		WA, WCAA, WCAFLP, WIA, WIFLP, PSA, PSFLP, WHHYA, and WHHYFLP are organized under the laws of the State of Delaware; WCAP, WCAFLTD, PSP, PSFLTD, WIP, WIFLTD, WHHYP, and WHHYFLTD are organized under the laws of the British Virgin Islands
	(d)	Title of Class of Securities
		Common Stock
	(e)	CUSIP Number
		74765E109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b), or 240.13d-2(b) or (c), check whether the person filing is a:
	(a)	¨	Broker or dealer registered under section 15 of the Act.
	(b)	¨	Bank as defined in section 3(a)(6) of the Act.
	(c)	¨	Insurance company as defined in section 3(a)(19) of the Act.
	(d)	¨	Investment company registered under section 8 of the Investment Company Act of 1940.
	(e)	x	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E).
	(f)	¨	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F).
	(g)	¨	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G).
	(h)	¨	A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act.
	(i)	¨	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940.
	(j)	¨	Group, in accordance with § 240.13d-1(b)(1)(ii)(J).
	In addition to the investment advisers on behalf of whom this statement is filed pursuant to § 240.13d-1(b), this statement is also filed on behalf of the following persons pursuant to § 240.13d-1(c): WCAFLP, WIFLP, WCAP, WIP, WCAFLTD, WIFLTD, PSFLP, PSFLTD, PSP, WHHYFLP, WHHYFLTD, and WHHYP.

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Item 4.	Ownership
	(a)	Amount Beneficially Owned
		WA, acting as investment adviser to its clients, is deemed to beneficially own 5,070,000 shares of Common Stock of the Company. WCAA, acting as investment adviser to its clients, is deemed to beneficially own 2,873,000 shares of Common Stock of the Company. WCAP is deemed to beneficially own 2,873,000 shares of Common Stock of the Company as a result of its direct ownership of Common Stock and warrants of the Company. WCAFLP is deemed to beneficially own 2,873,000 shares of Common Stock of the Company as a result of its indirect ownership of Common Stock and warrants of the Company. WCAFLTD is deemed to beneficially own 2,873,000 shares of Common Stock of the Company as a result of its indirect ownership of Common Stock and warrants of the Company. WIA, acting as investment adviser to its clients, is deemed to beneficially own 338,000 shares of Common Stock of the Company. WIP is deemed to beneficially own 338,000 shares of Common Stock of the Company as a result of its direct ownership of Common Stock and warrants of the Company. WIFLP is deemed to beneficially own 338,000 shares of Common Stock of the Company as a result of its indirect ownership of Common Stock and warrants of the Company. WIFLTD is deemed to beneficially own 338,000 shares of Common Stock of the Company as a result of its indirect ownership of Common Stock and warrants of the Company. PSA, acting as investment adviser to its clients, is deemed to beneficially own 507,000 shares of Common Stock of the Company. PSP is deemed to beneficially own 507,000 shares of Common Stock of the Company as a result of its direct ownership of Common Stock and warrants of the Company. PSFLP is deemed to beneficially own 507,000 shares of Common Stock of the Company as a result of its indirect ownership of Common Stock and warrants of the Company. PSFLTD is deemed to beneficially own 507,000 shares of Common Stock of the Company as a result of its indirect ownership of Common Stock and warrants of the Company. WHHYA, pursuant to acting as investment adviser to its clients, beneficially owns 1,352,000 shares of Common Stock of the Company. WHHYP is deemed to beneficially own 1,352,000 shares of Common Stock of the Company as a result of its direct ownership of Common Stock and warrants of the Company. WHHYFLP is deemed to beneficially own 1,352,000 shares of Common Stock of the Company as a result of its indirect ownership of Common Stock and warrants of the Company. WHHYFLTD is deemed to beneficially own 1,352,000 shares of Common Stock of the Company as a result of its indirect ownership of Common Stock and warrants of the Company. As a result of the relationships described in this statement, each of WA, WCAA, WCAFLP, WCAFLTD, WIA, WIFLP, WIFLTD, PSA, PSFLP, PSFLTD, WHHYA, WHHYFLP, and WHHYFLTD may be deemed to possess indirect beneficial ownership of the shares of Common Stock held by one or more of WCAP, WIP, PSP, and WHHYP. Additionally, as a result of the relationships described in this statement, each of WA, WCAA, WCAFLP, WCAFLTD, WIA, WIFLP, WIFLTD, PSA, PSFLP, PSFLTD, WHHYA, WHHYFLP, and WHHYFLTD may be deemed to possess indirect beneficial ownership of the shares of Common Stock issuable upon the exercise of warrants held by held by one or more of WCAP, WIP, PSP, and WHHYP. WA, WCAA, WCAFLP, WCAFLTD, WIA, WIFLP, WIFLTD, PSA, PSFLP, and PSFLTD each disclaim indirect beneficial ownership of the shares of Common Stock except to the extent of their pecuniary interest in such shares. Based on the relationships described herein, these entities may be deemed to constitute a “group” within the meaning of Rule 13d-5(b)(1) under the Securities Exchange Act of 1934. The filing of this statement shall not be construed as an admission that WA, WCAA, WIA, PSA, WHHYA, WCAP, WIP, PSP, WHHYP, WCAFLP, WIFLP, PSFLP, WHHYFLP, WIFLTD, WCAFLTD, WHHYFLTD and PSFLTD are a group, or have agreed to act as a group.
	(b)	Percent of Class
		WA is deemed to beneficially own 6.3% of the Company’s Common Stock. WCAA is deemed to beneficially own 3.6% of the Company’s Common Stock. WCAP is deemed to beneficially own 3.6% of the Company’s Common Stock. WCAFLP is deemed to beneficially own 3.6% of the Company’s Common Stock. WCAFLTD is deemed to beneficially own 3.6% of the Company’s Common Stock. WIA is deemed to beneficially own 0.4% of the Company’s Common Stock. WIP is deemed to beneficially own 0.4% of the Company’s Common Stock. WIFLP is deemed to beneficially own 0.4% of the Company’s Common Stock. WIFLTD is deemed to beneficially own 0.4% of the Company’s Common Stock. PSA is deemed to beneficially own 0.6% of the Company’s Common Stock. PSP is deemed to beneficially own 0.6% of the Company’s Common Stock. PSFLP is deemed to beneficially own 0.6% of the Company’s Common Stock. PSFLTD is deemed to beneficially own 0.6% of the Company’s Common Stock. WHHYA is deemed to beneficially own 1.7% of the Company’s Common Stock. WHHYP is deemed to beneficially own 1.7% of the Company’s Common Stock. WHHYFLP is deemed to beneficially own 1.7% of the Company’s Common Stock. WHHYFLTD is deemed to beneficially own 1.7% of the Company’s Common Stock. The percentage of Common Stock reportedly owned by each entity herein is based on 77,552,000 shares of outstanding Common Stock of the Company, which is the total number of shares issued and outstanding on 12/14//2007.
	(c)	Number of shares as to which such person has:
		(i)	Sole power to vote or to direct the vote
			0
		(ii)	Shared power to vote or to direct the vote
			WA has shared voting power with respect to 5,070,000 shares of the Company’s Common Stock. WCAA, WCAP, WCAFLP, and WCAFLTD have shared voting power with respect to 2,873,000 shares of the Company’s Common Stock. WIA, WIP, WIFLP, and WIFLTD have shared voting power with respect to 338,000 shares of the Company’s Common Stock. PSA, PSP, PSFLP, and PSFLTD have shared voting power with respect to 507,000 shares of the Company’s Common Stock. WHHYA, WHHYP, WHHYFLP, and WHHYFLTD have shared voting power with respect to 1,352,000 shares of the Company’s Common Stock.
		(iii)	Sole power to dispose or to direct the disposition of
			0
		(iv)	Shared power to dispose or to direct the disposition of
			WA has shared power to direct the disposition of 5,070,000 shares of the Company’s Common Stock. WCAA, WCAP, WCAFLP, and WCAFLTD have shared power to direct the disposition of 2,873,000 shares of the Company’s Common Stock. WIA, WIP, WIFLP, and WIFLTD have shared power to direct the disposition of 338,000 shares of the Company’s Common Stock. PSA, PSP, PSFLP, and PSFLTD have shared power to direct the disposition of 507,000 shares of the Company’s Common Stock. WHHYA, WHHYP, WHHYFLP, and WHHYFLTD have shared power to direct the disposition of 1,352,000 shares of the Company’s Common Stock.
	Instruction. For computations regarding securities which represent a right to acquire an underlying security see §240.13d3(d)(1).
Item 5.	Ownership of Five Percent or Less of a Class
	If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following  ¨.
	Not Applicable
	Instruction. Dissolution of a group requires a response to this item.
Item 6.	Ownership of More than Five Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group
	See Item 2
Item 9.	Notice of Dissolution of Group
	Not Applicable
Item 10.	Certification
	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 of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

SIGNATURE

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

February 14, 2008

Date

/s/ Jonathan D. Wood

Signature

Jonathan D. Wood, Chief Operating Officer of Whitebox Advisors, LLC, on behalf of Whitebox Convertible Arbitrage Advisors, LLC, Pandora Select Advisors, LLC, Whitebox Intermarket Advisors, LLC and Whitebox Hedged High Yield Advisors, LLC

Name/Title

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By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

SIGNATURE

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

February 14, 2008

Date

/s/ Jonathan D. Wood

Signature

Jonathan D. Wood, Chief Operating Officer of Whitebox Advisors, LLC, on behalf of Whitebox Convertible Arbitrage Partners, L.P., Whitebox Convertible Arbitrage Fund, L.P., Whitebox Convertible Arbitrage Fund, Ltd., Pandora Select Partners, L.P.; Pandora Select Fund, L.P., Pandora Select Fund, Ltd., Whitebox Intermarket Partners, L.P., Whitebox Intermarket Fund, LP., Whitebox Intermarket Fund, Ltd. Whitebox Hedged High Yield Partners, L.P., Whitebox Hedged High Yield Fund, L.P., and Whitebox Hedged High Yield Fund, Ltd.

Name/Title

The original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative. If the statement is signed on behalf of a person by his authorized representative other than an executive officer or general partner of the filing person, evidence of the representative’s authority to sign on behalf of such person shall be filed with the statement, provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference. The name and any title of each person who signs the statement shall be typed or printed beneath his signature.

NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7 for other parties for whom copies are to be sent.

Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001)

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