-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001005477-04-003419.txt : 20040923
<SEC-HEADER>0001005477-04-003419.hdr.sgml : 20040923
<ACCEPTANCE-DATETIME>20040923172651
ACCESSION NUMBER:		0001005477-04-003419
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040913
FILED AS OF DATE:		20040923
DATE AS OF CHANGE:		20040923

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Aholt Robert Joseph JR
		CENTRAL INDEX KEY:			0001304011

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-10909
		FILM NUMBER:		041043539

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		310 748-1734

	MAIL ADDRESS:	
		STREET 1:		20128 CAVERN COURT
		CITY:			SAUGUS
		STATE:			CA
		ZIP:			91390

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PHASE III MEDICAL INC/DE
		CENTRAL INDEX KEY:			0000320017
		STANDARD INDUSTRIAL CLASSIFICATION:	INSURANCE CARRIERS, NEC [6399]
		IRS NUMBER:				222343568
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		330 SOUTH SERVICE ROAD
		STREET 2:		SUITE 120
		CITY:			MELVILLE
		STATE:			NY
		ZIP:			11747
		BUSINESS PHONE:		6315744955

	MAIL ADDRESS:	
		STREET 1:		330 SOUTH SERVICE ROAD
		STREET 2:		SUITE 120
		CITY:			MELVILLE
		STATE:			NY
		ZIP:			11747

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CORNICHE GROUP INC /DE
		DATE OF NAME CHANGE:	19951117

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIDELITY MEDICAL INC
		DATE OF NAME CHANGE:	19951025

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIDELITY MEDICAL SERVICES INC
		DATE OF NAME CHANGE:	19830825

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Aholt Jr Family Trust
		CENTRAL INDEX KEY:			0001304164
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-10909
		FILM NUMBER:		041043538

	BUSINESS ADDRESS:	
		STREET 1:		20128 CAVERN COURT
		CITY:			SAUGUS
		STATE:			CA
		ZIP:			91390
		BUSINESS PHONE:		310 748-1734

	MAIL ADDRESS:	
		STREET 1:		20128 CAVERN COURT
		CITY:			SAUGUS
		STATE:			CA
		ZIP:			91390
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2004-09-13</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000320017</issuerCik>
        <issuerName>PHASE III MEDICAL INC/DE</issuerName>
        <issuerTradingSymbol>PHSM</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001304011</rptOwnerCik>
            <rptOwnerName>Aholt Robert Joseph JR</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>20128 CAVERN COURT</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAUGUS</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>91390</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Operating Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001304164</rptOwnerCik>
            <rptOwnerName>Aholt Jr Family Trust</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>20128 CAVERN COURT</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAUGUS</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>91390</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>common stock, par value $0.001 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>7282913</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote number 2</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>common stock, par value $0.001 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Aholt, Jr. Family Trust dated 2/17/97 (the &quot;Trust&quot;) acquired these shares pursuant to the terms of a subscription agreement (as amended, modified or supplemented, the &quot;Subscription Agreement&quot;), dated September 13, 2004, between Phase III Medical, Inc. (the &quot;Company&quot;) and the Trust.  The address of the Trust is 20128 Cavern Court, Saugus, California  91390.</footnote>
        <footnote id="F2">These shares are owned directly by the Trust, holder of more than 10% of the shares of common stock, par value $0.001 per share, of the Company (&quot;Common Stock&quot;), outstanding as of the date hereof, and indirectly by Robert J. Aholt, Jr., as trustee of the Trust.  Mr. Aholt is the chief operating officer of the Company and, by virtue of his position as trustee of the Trust, holder of more than 10% of the shares of Common Stock outstanding as of the date hereof.</footnote>
        <footnote id="F3">Pursuant to the Subscription Agreement, the Company and Mr. Aholt agreed that upon maturity of a promissory note made by the Company in favor of Mr. Aholt on August 30, 2004 (the &quot;Note&quot;), the Company will repay the Note in shares of Common Stock, at a per share conversion price equal to 85% of the average of the closing price of one share of Common Stock on the National Association of Securities Dealers, Inc. Over-the-Counter Bulletin Board (the &quot;Bulletin Board&quot;) for the five (5) days immediately preceding the maturity date of the Note, or, if the Common Stock is not then traded on the Bulletin Board, at 85% of fair market value as determined by the Board of Directors of the Company.  The Note, which was made in the principal amount of $100,000, bears interest at a rate of 20% per annum and matures on February 28, 2005.  The interests in these shares are owned directly by Mr. Aholt.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Robert J. Aholt, Jr., Individually</signatureName>
        <signatureDate>2004-09-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Robert J. Aholt, Jr., as Trustee for Aholt, Jr. Family Trust dated 2/17/97</signatureName>
        <signatureDate>2004-09-23</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----