SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Schedule
13D/A
Under the
Securities Exchange Act of 1934
Chembio Diagnostics,
Inc.
(Name of
Issuer)
Common Stock, $0.01 par
value
(Title of
Class of Securities)
89268C103
(CUSIP
Number)
Lawrence
A. Siebert
3661
Horseblock Road
Medford, NY
11763
(Name,
Address and Telephone Number of Person Authorized to Receive
Notices
and
Communications)
May 16,
2008
(Date of
Event which Requires Filing of this Statement)
If the
filing person has previously filed a statement on Schedule 13G to report the
acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box [ ].
NOTE: Schedules
filed in paper format shall include a signed original and five copies of the
schedule, including all exhibits. See Section 240.13d-7(b) for other
parties to whom copies are to be sent.
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*The
remainder of this cover page shall be filled out for the 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.
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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).
CUSIP No.
89268C103
(1) Names
of Reporting Persons and I.R.S. Identification Nos. of Such Persons (entities
only)
Lawrence
A. Siebert
(2) Check
the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b)
(3) SEC
Use Only
___________________________________________________________
(4) Source
of Funds (See Instructions):
OO
(5) Check
if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or
2(e)
N/A
(6) Citizenship
or Place of Organization
United
States
Number
of Shares Beneficially Owned by Each Reporting Person
with:
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(7) Sole
Voting Power: 8,466,405 1
(8) Shared
Voting Power: 0
(9) Sole
Dispositive Power: 8,466,405 1
(10) Shared
Dispositive Power: 0
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(11) Aggregate
Amount Beneficially Owned by Each Reporting Person:
8,466,405
1
(12)
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Check
if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
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N/A
(13)
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Percent
of Class Represented by Amount in Row
(11):
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(14)
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Type
of Reporting Person (See
Instructions):
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IN
1 Includes
6,015,674 shares of common stock; 170,000 shares of common stock issuable upon
the exercise of options exercisable at $0.48, 10,000 of which must be exercised
by December 31, 2008, 60,000 of which must be exercised by May 4, 2011, 100,000
of which must be exercised by May 28, 2011; 75,000 shares of common stock
issuable upon the exercise of options exercisable at $0.22, all of which must be
exercised by February 15, 2013; and 2,205,731 shares of common stock issuable
upon the exercise of Series A Warrants pursuant to the terms described in Item 4
below.
2 Based upon 60,537,534 issued and
outstanding shares of common stock reported in the Issuer’s Form 10-Q filed by
the Issuer on May 12, 2008, plus 2,450,731 shares of common stock issuable upon
the exercise of Series A Warrants and Options held by Mr.
Siebert.
Item
1.
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Security
and Issuer.
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Title and
class of equity securities:
Common
Stock, $0.01 par value
Name and
address of principal executive offices of Issuer:
Chembio
Diagnostics, Inc.
3661
Horseblock Road
Medford,
NY 11763
Item
2.
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Identity
and Background.
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(a) Name
of person filing:
Lawrence A. Siebert
(b) Residence
or Business Address:
3661
Horseblock Road
Medford,
NY 11763
(c) Principal
occupation:
Chief
Executive Officer and President of Chembio Diagnostics, Inc., 3661 Horseblock
Road, Medford, NY 11763
(d) Criminal
proceedings:
During
the last five years, Mr. Siebert has not been convicted in any criminal
proceeding.
(e) Civil
Proceedings:
During
the last five years, Mr. Siebert has not been a party to any civil proceedings
of a judicial or administrative body of competent jurisdiction as a result of
which he would have been subject to any judgment, decree or final order
enjoining future violations of or prohibiting or mandating activities subject to
Federal or State Securities laws or finding any violation with respect to such
laws.
(f) Citizenship:
United States
Item
3.
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Source
and Amount of Funds or Other
Consideration.
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Item 3 of the Schedule 13D
is hereby amended to add the following information:
All funds
used to purchase the securities of the Company set forth herein on behalf of the
Reporting Person have come directly from the personal funds of the Reporting
Person. No borrowed funds were used to purchase the securities. The
aggregate amount of funds used in purchasing the Common Stock included in
Item 5 of this Schedule 13D/A was approximately $99,390 in
cash.
Item
4.
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Purpose
of the Transaction.
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Mr. Siebert made the acquisitions in
May 2008 for investment purposes. He does not have any plans or
proposals that relate to or would result in any of the actions enumerated in
Item 4 of Schedule 13D.
Item
5. Interests
in Securities of the Issuer.
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(a)
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As
a result of the transactions described herein, Mr. Siebert beneficially
owns 8,466,405 shares of the Issuer’s common stock, comprising
approximately 13.44% of the outstanding shares of common stock of the
Issuer. This percentage is based upon 60,537,534 issued and
outstanding shares of common stock reported in the Company’s Form 10-Q
filed by the Company on May 12, 2008, plus 2,205,731 shares of common
stock issuable upon the exercise of Series A Warrants, and 245,000 options
held by Mr. Siebert. Mr. Siebert’s beneficial ownership of
8,466,405 shares includes 6,015,674 shares of common stock; 170,000 shares
of common stock issuable upon the exercise of options exercisable at
$0.48, 10,000 of which must be exercised by December 31, 2008, 60,000 of
which must be exercised by May 4, 2011, and 100,000 of which must be
exercised by May 28, 2011; 75,000 shares of common stock issuable upon the
exercise of options exercisable at $0.22 all of which must be exercised by
February 15, 2013; and 2,205,731 shares of common stock issuable upon the
exercise of Series A Warrants for cash or on a cashless basis at an
exercise price of $0.45 per share at any time on or before June 30,
2008. The exercise price for any of Mr. Siebert’s Series A
Warrants that are not exercised on or before June 30, 2008 will revert
back to the original $0.90 exercise price on July 1,
2008.
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(b)
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Mr.
Siebert has sole voting and dispositive powers with respect to all shares
of the Issuer’s common stock held in his own
name.
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(c)
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Except
for the transactions described in this Amendment No. 2, there have been no
transactions in the class of securities during the past sixty
days.
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(d)
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Rights
with respect to dividends or sales
proceeds:
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N/A
(e) Date
of cessation of five percent beneficial ownership:
N/A
Item
6.
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Contracts,
Arrangements, Understandings or Relationships With Respect to Securities
of the Issuer.
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N/A
Item
7.
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Material
to be Filed as Exhibits.
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Item 7
of the Schedule 13D is hereby amended to add the following
information:
N/A
SIGNATURE
After reasonable inquiry and to the
best of the Reporting Person’s knowledge and belief, the Reporting Person
certifies that the information set forth in this statement is true, complete and
correct.
Date: May
19,
2008 /s/ Lawrence S.
Siebert
Lawrence S. Siebert,
Individually