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*
Wexford Spectrum Trading LTD

(Last) (First) (Middle)
411 WEST PUTNAM AVENUE
SUITE 125

(Street)
GREENWICH CT 06830

(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
11/13/2007
3. Issuer Name and Ticker or Trading Symbol
AVIATION UPGRADE TECHNOLOGIES INC [ AVUG ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 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, par value $0.001 1,714,285 D
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)
Date Exercisable Expiration Date Title Amount or Number of Shares
Warrants (1) (1) Common Stock 428,571 (2) D
Explanation of Responses:
1. Wexford Spectrum Trading Limited (?WST?) acquired an aggregate of 428,571 Warrants, each for the purchase of one share of common stock of OncoVista, Inc. (?OncoVista?), in a private placement of OncoVista that closed on August 2, 2007. On November 13, 2007 OncoVista merged into Aviation Upgrade Technologies, Inc. (the ?Issuer?) and each outstanding share of common stock of OncoVista, par value $0.001 per share was exchanged for one share of common stock of the Issuer and all options and warrants exercisable into OncoVista Common Stock became exercisable for shares of Issuer?s Common Stock. The Warrants expire at 5:00PM New York City local time on August 15, 2012.
2. The Warrants are initially exercisable at $2.50 per share, subject to adjustment for stock splits, stock dividends, distributions, reorganizations, reclassifications, consolidations and mergers.
Remarks:
By: Arthur H. Amron, Vice President and Assistant Secretary of Wexford Spectrum Trading Limited 11/15/2007
** 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.
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