SCHEDULE 13 G/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

 

SCHEDULE 13G

 

Under the Securities Exchange Act of 1934

(Amendment No. 1)

 

PRO-PHARMACEUTICALS, INC.


(Name of Issuer)

 

 

Common Stock, $.001 par value


(Title of Class of Securities)

 

 

74267T109


(CUSIP Number)

 

 

December 31, 2003


(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)

¨ Rule 13d-1(c)

x Rule 13d-1(d)


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  1.  

Names of Reporting Persons.

I.R.S. Identification Nos. of above persons (entities only).

 

            David Platt

   

  2.  

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)  ¨

(b)  x

   

  3.  

SEC Use Only

 

   

  4.  

Citizenship or Place of Organization

 

            United States

   

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  5.    Sole Voting Power

 

                4,549,747


  6.    Shared Voting Power

 

                0


  7.    Sole Dispositive Power

 

                4,549,747


  8.    Shared Dispositive Power

 

                0


  9.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

            4,549,747

   

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)

 

            18.9%

   

12.  

Type of Reporting Person (See Instructions)

 

            IN

   

 


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The Statement on Schedule 13G, dated January 21, 2002, filed by David Platt, is hereby amended and restated in its entirety to read as follows:

 

Item 1(a).   Name of Issuer:

 

Pro-Pharmaceuticals, Inc.

 

Item 1(b).   Address of Issuer’s Principal Executive Offices:

 

189 Wells Avenue

Newton, MA 02459

 

Item 2(a).   Name of Person Filing:

 

David Platt

 

Item 2(b).   Address of Principal Business Office or, if None, Residence:

 

189 Wells Avenue

Newton, MA 02459

 

Item 2(c).   Citizenship:

 

United States

 

Item 2(d).   Title of Class of Securities:

 

Common Stock, $.001 par value

 

Item 2(e).   CUSIP Number:

 

74267T109

 

Item 3.   If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a:

 

  (a)   ¨    Broker or dealer registered under Section 15 of the Exchange Act.
  (b)   ¨    Bank as defined in Section 3(a)(6) of the Exchange Act.
  (c)   ¨    Insurance company as defined in Section 3(a)(19) of the Exchange Act.
  (d)   ¨    Investment company registered under Section 8 of the Investment Company Act.
  (e)   ¨    An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E).
  (f)   ¨    An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F).
  (g)   ¨    A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G).
  (h)   ¨    A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act.
  (i)   ¨    A church plan that is excluded from the definition of an investment company under
                 Section 3(c)(14) of the Investment Company Act.
  (j)   ¨    Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

 

Not Applicable


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Item 4.   Ownership.

 

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

 

(a) Amount beneficially owned:        4,549,747*

 

(b) Percent of class:                                         18.9%**

 

(c) Number of shares as to which the person has:

 

(i) Sole power to vote or direct the vote:                            4,549,747

(ii) Shared power to vote or to direct the vote:                                        0

(iii) Sole power to dispose or to direct the disposition of: 4,549,747

(iv) Shared power to dispose or to direct the disposition of:                    0

 

* Includes 7,379 shares owned by Dr. Platt’s wife, as to which Dr. Platt disclaims beneficial ownership.

 

** Based on 24,054,300 shares outstanding as of December 22, 2003.

 

Item 5.   Ownership of Five Percent or Less of a Class.

 

Not Applicable

 

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 or Control Person.

 

Not Applicable

 

Item 8.   Identification and Classification of Members of the Group.

 

Not Applicable

 

Item 9.   Notice of Dissolution of Group.

 

Not Applicable


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Item 10.   Certification.

 

Not Applicable

 

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

 

         
Date: February 9, 2004          

/s/    David Platt        


                David Platt