SCHEDULE 13G
CUSIP NO. 927638403 PAGE 1 OF 8 PAGES
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 5)*
Viragen, Inc.
(Name of Issuer)
Common Stock, $.01 par value
(Title of Class of Securities)
927638403
(CUSIP Number)
March 21, 2007
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
SCHEDULE 13G
CUSIP NO. 927638403 PAGE 2 OF 8 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Alexandra Global Master Fund Ltd.
98-0448776
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A)[ ]
(B)[ ] (See Item 6)
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
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NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY ---------------------------------------------------------
EACH 6 SHARED VOTING POWER
REPORTING
PERSON -0-
WITH: ---------------------------------------------------------
7 SOLE DISPOSITIVE POWER
-0-
---------------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (SEE INSTRUCTIONS) [ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
-0-
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO
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SCHEDULE 13G
CUSIP NO. 927638403 PAGE 3 OF 8 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Alexandra Investment Management, LLC
13-4092583
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A)[ ]
(B)[ ] (See Item 6)
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY ---------------------------------------------------------
EACH 6 SHARED VOTING POWER
REPORTING
PERSON -0-
WITH: ---------------------------------------------------------
7 SOLE DISPOSITIVE POWER
-0-
---------------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (SEE INSTRUCTIONS) [ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
-0-
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
--------------------------------------------------------------------------------
SCHEDULE 13G
CUSIP NO. 927638403 PAGE 4 OF 8 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Mikhail A. Filimonov
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A)[ ]
(B)[ ] (See Item 6)
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
--------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY ---------------------------------------------------------
EACH 6 SHARED VOTING POWER
REPORTING
PERSON -0-
WITH: ---------------------------------------------------------
7 SOLE DISPOSITIVE POWER
-0-
---------------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (SEE INSTRUCTIONS) [ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
-0-
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
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SCHEDULE 13G
CUSIP NO. 927638403 PAGE 5 OF 8 PAGES
Item 1(a). Name of Issuer:
Viragen, Inc. (the "Issuer")
Item 1(b). Address of Issuer's Principal Executive Offices:
865 SW 78th Avenue
Suite 100
Plantation, Florida 33324
Item 2(a). Names of Persons Filing:
Alexandra Global Master Fund Ltd. ("Alexandra")
Alexandra Investment Management, LLC ("Management")
Mikhail A. Filimonov ("Filimonov")
Item 2(b). Address of Principal Business Office:
Alexandra - Citco Building, Wickams Cay, P.O. Box 662,
Road Town, Tortola, British Virgin Islands
Management - 767 Third Avenue, 39th Floor, New York,
New York 10017
Filimonov - 767 Third Avenue, 39th Floor, New York,
New York 10017
Item 2(c). Place of Organization or Citizenship:
Alexandra - British Virgin Islands
Management - Delaware
Filimonov - U.S.
Item 2(d). Title of Class of Securities:
Common Stock, $.01 par value per share, of the Issuer (the
"Common Stock")
Item 2(e). CUSIP Number: 927638403
Item 3. This Schedule is filed pursuant to Rule 13d-1(c) by
Alexandra, Management and Filimonov
Item 4. Ownership:
(a) Amount Beneficially Owned:
Alexandra: 0
Management: 0
Filimonov: 0
(b) Percent of Class:
Alexandra: 0
Management: 0
Filimonov: 0
(c) Number of Shares as to which the Person has:
SCHEDULE 13G
CUSIP NO. 927638403 PAGE 6 OF 8 PAGES
(i) sole power to vote or to direct the vote
-0-
(ii) shared power to vote or to direct the vote:
-0-
(iii) sole power to dispose or to direct the
disposition of
-0-
(iv) shared power to dispose or to direct the
disposition of
-0-
Item 5. Ownership of Five Percent or Less of a Class:
If this statement is being filed to report the fact that as of
the date hereof each of the Reporting Persons ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following [X]
Item 6. Ownership of More Than Five Percent on Behalf of Another
Person:
Not applicable
Item 7. Identification and Classification of the Subsidiary which
Acquired the Security Being Reported on by the Parent
Holding Company:
Not applicable
Item 8. Identification and Classification of Members of the Group:
Not applicable
Item 9. Notice of Dissolution of Group:
Not applicable
Item 10. Certification:
By signing below each signatory certifies that, to the best of its knowledge and
belief, the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
Exhibits:
SCHEDULE 13G
CUSIP NO. 927638403 PAGE 7 OF 8 PAGES
Exhibit I: Joint Filing Agreement, dated as of February 14, 2007, by and
among Alexandra, Management and Filimonov (incorporated herein by reference to
the exhibit with the same number filed with the Schedule 13G Amendment No. 3
filed by the persons reporting on this Amendment No. 5).
SCHEDULE 13G
CUSIP NO. 927638403 PAGE 8 OF 8 PAGES
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief, each
of the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Date: March 27, 2007
ALEXANDRA GLOBAL MASTER FUND LTD.
By: ALEXANDRA INVESTMENT MANAGEMENT, LLC,
its Investment Advisor
By: /s/ Mikhail A. Filimonov
----------------------------
Mikhail A. Filimonov
Title: Managing Member
ALEXANDRA INVESTMENT MANAGEMENT, LLC
By: /s/ Mikhail A. Filimonov
----------------------------
Mikhail A. Filimonov
Title: Managing Member
/s/ Mikhail A. Filimonov
----------------------------
Mikhail A. Filimonov