X0202 4 2006-11-27 0 0001017440 PRECIS INC pcis 0001132090 CLEVELAND RUSSELL 8080 N CENTRAL EXPWY STE 210 LB 59 DALLAS TX 75206 1 0 0 0 Common Stock 2006-11-27 4 A 0 19000 1.34 A 819000 I Shares held by Renaissance Capital Growth & Income Fund III, Inc. ("RENN3") Common Stock 2006-11-28 4 A 0 11000 1.33 A 830000 I Shares held by RENN3 Common Stock 2006-11-29 4 A 0 7000 1.34 A 837000 I Shares held by RENN3 The reporting person is an executive officer of RENN3 and RENN Capital Group, Inc. which is the investment adviser to RENN3 and may therefore be deemed to be the beneficial owner of such shares. The reporting person disclaims such beneficial ownership. Russell Cleveland 2006-11-29