X0303 4 2009-10-07 0 0001310261 POWER AIR CORP PWAZ 0001434221 SHIN JOON SOO 7F, SOMO BLDG., 984-1, DAECHI-DONG KANGNAM-GU SEOUL M5 135-842 KOREA, REPUBLIC OF 1 0 1 0 Common Stock 2009-10-07 4 P 0 2000000 0.2 A 2000000 D Share Purchase Warrants 0.2 2009-10-07 4 P 0 2000000 0.2 A 2009-10-07 2011-10-07 common stock 2000000 2000000 D The Reporting Person acquired 2,000,000 units (each unit consisting of one share of the Issuer's common stock and one share purchase warrant) pursuant to a private placement at a price of $0.20 per unit. In addition to the shares held directly by the Reporting Person, the Reporting Person is a director, senior officer and shareholder of Somo Petroleum Co., Ltd. ("Somo"), a private Korean company that owns 571,429 shares of the Issuer. The Reporting Person disclaims beneficial ownership over the shares held by Somo as voting and dispositive power in these shares resides with such corporation. The Reporting Person also holds options to purchase 10,000 shares at $1.40 per share, expiring April 11, 2013. /s/ Joon Soo Shin 2010-01-04