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
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 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*
LENZ BRIAN
(Last) (First) (Middle)
180 MT. AIRY ROAD, SUITE 102
(Street)
BASKING RIDGE NJ 07920
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
VioQuest Pharmaceuticals, Inc. [ VQPH ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
CFO and Treasurer
3. Date of Earliest Transaction (Month/Day/Year)
03/14/2008
4. If Amendment, Date of Original Filed (Month/Day/Year)
04/11/2008 		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 15,000 D
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
Stock Options(1) $1.67 (2) 10/06/2013 Common Stock 15,000 15,000 D
Stock Options $1.4 (3) 04/19/2014 Common Stock 25,000 25,000 D
Stock Options $1.08 (4) 01/24/2015 Common Stock 60,000 60,000 D
Stock Options $1.03 (5) 11/29/2015 Common Stock 100,000 100,000 D
Stock Options $0.85 (6) 03/31/2016 Common Stock 100,000 100,000 D
Stock Options $0.55 (7) 05/11/2007 Common Stock 100,000 100,000 D
Warrant $0.4 06/29/2007 06/29/2012 Common Stock, $.001 par value 3,289 3,289 D
Stock Options (right to buy) $0.12 (10) 02/28/2018 Common Stock 800,000 800,000 D
Senior Convertible Promissory Notes $0.38 03/14/2008 C(8) 13,157 06/29/2007 06/29/2009 Series B Convertible Preferred Stock(8) 5.285(8) $1,000 0(8) D
Series B Convertible Preferred Stock $0.38 03/14/2008 C(8) 5.285 03/14/2008 (9) Common Stock 13,157 (11) 5.285 D
Series B Convertible Preferred Stock (11) 04/09/2008 J(11) 5 03/14/2008 (9) Series A Convertible Preferred Stock 5 (11) 0.285 D
Series A Convertible Preferred Stock $0.06 04/09/2008 J(11) 5 04/09/2008 (9) Common Stock 83,333 (11) 5 D
Series A Convertible Preferred Stock $0.06 04/09/2008 P(12) 5 04/09/2008 (9) Common Stock 83,333 $1,000 10 D
Warrant $0.1 04/09/2008 P(12) 83,333 04/09/2008 04/09/2013 Common Stock 83,333 (12) 83,333 D
Explanation of Responses:
1. Under the 2003 Stock Option Plan.
2. 5,000 shares each vest on 10/6/04, 10/6/05 and 10/6/06.
3. Option vests in three annual installments beginning on 4/19/05.
4. Option vests in three annual installments beginning on 1/24/06.
5. Option vests in three annual installments beginning on 11/29/06.
6. Option exercisable as follows: 33,334 shares on 3/31/07; 33,333 shares on each of 3/31/08 and 3/31/09.
7. Option exercisable as follows: 33,334 shares on 5/11/08; 33,333 shares on each of 5/11/09 and 5/11/10.
8. Notes were amended on 3/14/08 to provide for conversion to Series B Convertible Preferred Stock and a mandatory conversion took place on that date.
9. No expiration date.
10. Option vests as follows: 266,667 shares each on 2/28/09 and 2/28/10; 266,666 shares vest on 2/28/11; subject to acceleration under certain circumstances.
11. On 4/9/08, the Reporting Person exchanged Series B Convertible Preferred Stock for Series A Convertible Preferred Stock pursuant to an exchange offer by the Company in connection with the Series A Convertible Preferred Offering.
12. Pursuant to a private offering of Series A Convertible Preferred Stock and Warrants.
/s/ Brian Lenz 04/23/2008
** 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 4 (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).
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