X0202 4 2007-11-23 0000906782 CYGNE DESIGNS INC CYDS.OB 0001409954 Kraif Serge 19 AVENUE KRIEG 1208 GENEVA SWITZERLAND 0 0 1 0 Common Stock 2007-11-23 4 J 0 100 .96 A 8915271 D Common Stock 2007-11-23 4 J 0 100 .95 A 8915371 D Common Stock 2007-11-23 4 J 0 100 1.02 A 8915471 D Common Stock 2007-11-23 4 J 0 100 1.08 A 8915571 D Common Stock 2007-11-23 4 J 0 1000 1.02 A 8916571 D Common Stock 2007-11-23 4 J 0 100 1.00 A 8916671 D Common Stock 2007-11-23 4 J 0 100 .99 A 8916771 D Common Stock 2007-11-23 4 J 0 100 .95 A 8916871 D Common Stock 2007-11-23 4 J 0 300 1.01 A 8917171 D Common Stock 2007-11-23 4 J 0 1000 1.02 A 8918171 D Common Stock 2007-11-23 4 J 0 5400 1.05 A 8923571 D Common Stock 2007-11-26 4 J 0 100 .97 A 8923671 D Common Stock 2007-11-27 4 J 0 1000 1.00 A 8924671 D Common Stock 2007-11-27 4 J 0 1000 .99 A 8925671 D Common Stock 2007-11-27 4 J 0 1000 .98 A 8926671 D Common Stock 2007-11-27 4 J 0 100 .90 A 8926771 D Common Stock 2007-11-27 4 J 0 10000 .89 A 8936771 D Common Stock 2007-11-27 4 J 0 1000 .90 A 8937771 D Warrant to Purchase Common Stock 3.00 2007-08-09 4 P 0 4400000 A 2009-02-15 2012-01-31 Common Stock 4400000 4400000 D Subordinated Convertible Promissory Note 3.50 2007-08-09 4 P 0 4285715 3.50 A 2014-01-31 Common Stock 4285715 4285715 D Due to a clerical error, the Forms 3 and 4 filed by the Reporting Person on August 16 and 17, 2007 inadvertently disclosed that he had beneficially owned 115,000 shares of common stock of the Issuer prior to the securities acquired on August 9, 2007 when in fact he had beneficially owned 115,171 shares. The correct amount is reflected in the total amount of securities beneficially owned by him reported in this report. The Reporting Person unintentionally submitted the incorrect figure in his previous reports. The Warrant was acquired on August 9, 2007 pursuant to a note conversion agreement with the Issuer effective January 31, 2007. The Subordinated Convertible Promissory Note was acquired on August 9, 2007 pursuant to a note conversion agreement with the Issuer effective January 31, 2007. The note will bear interest at a rate of 4.70% per year, payable quarterly, and is convertible into Issuer's common stock at a conversion price of $3.50 per share. The note is convertible at any time, if not previously converted, and will mature on January 31, 2014 when the outstanding principal is due and payable. The note was described in the footnotes but was inadvertently omitted from Table II of the Form 4 filed by the Reporting Person on August 17, 2007. /s/ Serge Kraif 2007-11-27