SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* Perlysky Dov (Last) (First) (Middle) 2 LAKESIDE DRIVE WEST (Street) LAWRENCE NY 11559 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol Pharma-Bio Serv, Inc. [ PBSV ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 12/19/2006
	4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/19/2006	12/19/2006	J(3)		240,000	A	$0	240,000	I	Managing Member(1)
Common Stock	12/21/2006	12/21/2006	X		924,545	A	$0.06	1,164,545(4)	I	Managing Member(1)
Common Stock	01/25/2006		P		772,971	A	(5)	772,971	I	Via Wife(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Warrants	$0.06	12/21/2006	12/21/2006	X			960,000	12/21/2006	01/16/2014	Common Stock	960,000(4)	$0.06	0	I	Managing Member(1)
Warrants	$1.1	01/25/2006		P		193,024		01/25/2006	01/25/2011	Common Stock	193,024	(5)	193,024	I	Via Wife(2)
Warrants	$1.65	01/25/2006		P		193,024		01/25/2006	01/25/2011	Common Stock	193,024	(5)	193,024	I	Via wife(2)

Explanation of Responses:

1. The Reporting Person is the Managing Member of Krovim LLC, which owns the 1,164,545 shares of common stock reported herein.

2. The reporting person's wife is the Managing Member of LDP Family Partnership, which owns the 772,971 shares of common stock and 386,048 Warrants to purchase common stock of the Issuer, of which the reporting person disclaims beneficial ownership.

3. These 240,000 shares of common stock were previoiusly reported in a footnote in a Form 3 filed by Krovim LLC on January 12, 2005. Krovim had voting rights to these shares since its original issuance, but these shares were held in escrow until the earlier of (i) three years from the Termination Date or (ii) the date on which the closing price of the shares of Common Stock has equaled or exceeded $1.00 per share on the NASDAQ Bulletin Board, NASDAQ National market System or on the American or New York Stock Exchange for at least ten (10) consectuive trading days. On December 19,2006, a condition releasing the shares from escrow was met.

4. These 960,000 Warrants were previously reported in a footnote in a Form 3 filed by Krovim LLC on January 12, 2005. The Warrants were held in escrow and were not execcisable until the earlier of (i) three years from the Termination Date or (ii) the date on which the closing price of the shares of Common Stock has equaled or exceeded $1.00 per share on the NASDAQ Bulletin Board, NASDAQ National Market System or on the American or New York Stock Exchange for at least ten (10) consecutive trading days. On December 19, 2006, a condition releasing the Warrants from escrow was met. The 960,000 Warrants were exercised on a cashless basis, converting into 924,545 shares of common stock of the Issuer, and which is being reported as an acquistion on this Form 4.

5. These Common Stock and warrants were purchased by LDP Family Partnership LP, which is owned by the reporting person's spouse in a private placement. Each Unit in the private placement is priced at $250,000 and consists of 25,000 shares of series A preferred stock (which automatically converts into common stock), warrants to purchase 85,100 shares of common stock at $1.10 per share and warrants to purchase 85,100 shares of common stock at $1.65 per share.

	Dov Perlysky	12/28/2006
	** Signature of Reporting Person	Date
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