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YA Global Investments, et al. – ‘SC 13D’ on 3/7/06 re: Power Technology Inc/CN

On:  Tuesday, 3/7/06, at 1:53pm ET   ·   Accession #:  1144204-6-8940   ·   File #:  5-54719

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 3/07/06  YA Global Investments             SC 13D                 1:15K  Power Technology Inc/CN           Vintage/FA
          Mark Angelo
          Yorkville Advisors, LLC

General Statement of Beneficial Ownership   —   Schedule 13D
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13D      General Statement of Beneficial Ownership              8     31K

Document Table of Contents

Page (sequential) | (alphabetic) Top
 
11st Page   -   Filing Submission
5Item 1. Security and Issuer
"Item 2. Identity and Background
"Item 3. Source and Amount of Funds or Other Consideration
"Item 4. Purpose of Transaction
"Item 5. Interest in Securities of the Issuer
6Item 6. Contract, Arrangements, Understandings or Relationships with respect to Securities of the Issuer
"Item 7. Material to be Filed as Exhibits
8Reporting Persons 
SC 13D1st Page of 8TOC↑TopPreviousNext↓BottomJust 1st
 

                                                                          Page 1

 UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

--------------------------------------------------------------------------------

SCHEDULE 13D

 Under the Securities Exchange Act of 1934

POWER TECHNOLOGY, INC.
----------------------
(Name of Issuer)

Common Stock
------------
(Title of Class of Securities)

(CUSIP Number)

 Mark Angelo
Cornell Capital Partners, LP
 101 Hudson Street, Suite 3700
 Jersey City, New Jersey 07302
(201) 985-8300
 (Name, Address and Telephone Number of Person
 Authorized to Receive Notices and Communications)

Copy To:

 Mark Angelo
 101 Hudson Street, Suite 3700
 Jersey City, New Jersey 07302
(201) 985-8300

 March 7, 2006
 -------------
 (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 which is the subject of this Schedule 13D, and is filing 
this schedule because of Rule 13d-1(b)(3) or (4), check the following box |_|.  


SC 13D2nd Page of 8TOC1stPreviousNext↓BottomJust 2nd

                                                                          Page 2

SCHEDULE 13D
--------------------------------------------------------------------------------
1     NAME OF REPORTING PERSONS                                                 

Cornell Capital Partners LP                                         
--------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                          

(a) |X|                                                             
(b) |_|                                                             
--------------------------------------------------------------------------------
3     SEC USE ONLY                                                              

--------------------------------------------------------------------------------
4     SOURCE OF FUNDS                                                           

OO                                                                  
--------------------------------------------------------------------------------
5     CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|                                                    

--------------------------------------------------------------------------------
6     CITIZENSHIP OR PLACE OF ORGANIZATION                                      

Delaware                                                            
--------------------------------------------------------------------------------
NUMBER OF SHARES        7     SOLE VOTING POWER                                 
BENEFICIALLY OWNED BY                                                           
EACH REPORTING PERSON         0                                                 
WITH                    --------------------------------------------------------
8     SHARED VOTING POWER       

                        --------------------------------------------------------
9     SOLE DISPOSITIVE POWER    

0                   
                        --------------------------------------------------------
10    SHARED DISPOSITIVE POWER  

--------------------------------------------------------------------------------
11    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON              

0                                                                   
--------------------------------------------------------------------------------
12    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| 

--------------------------------------------------------------------------------
13    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)                        

0.00%                                                               
--------------------------------------------------------------------------------
14    TYPE OF REPORTING PERSON                                                  

PN                                                                  
--------------------------------------------------------------------------------


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                                                                          Page 3

--------------------------------------------------------------------------------
1     NAME OF REPORTING PERSONS                                                 

Yorkville Advisors, LLC                                             
--------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                          

(a) |X|                                                             
(b) |_|                                                             
--------------------------------------------------------------------------------
3     SEC USE ONLY                                                              

--------------------------------------------------------------------------------
4     SOURCE OF FUNDS                                                           

OO                                                                  
--------------------------------------------------------------------------------
5     CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|                                                    

--------------------------------------------------------------------------------
6     CITIZENSHIP OR PLACE OF ORGANIZATION                                      

Delaware                                                            
--------------------------------------------------------------------------------
NUMBER OF SHARES        7     SOLE VOTING POWER                                 
BENEFICIALLY OWNED BY                                                           
EACH REPORTING PERSON         7,472,316 (as General Partner of Cornell Capital  
WITH                          Partners, LP)                                     
                        --------------------------------------------------------
8     SHARED VOTING POWER       

-0-                 
                        --------------------------------------------------------
9     SOLE DISPOSITIVE POWER    

                            7,472,316 (as General Partner of Cornell Capital
Partners, LP)       
                        --------------------------------------------------------
10    SHARED DISPOSITIVE POWER  

-0-                 
--------------------------------------------------------------------------------
11    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON              

7,472,316 (as General Partner of Cornell Capital Partners, LP)      
--------------------------------------------------------------------------------
12    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| 

--------------------------------------------------------------------------------
13    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)                        

5.39%                                                               
--------------------------------------------------------------------------------
14    TYPE OF REPORTING PERSON                                                  

PN                                                                  
--------------------------------------------------------------------------------


SC 13D4th Page of 8TOC1stPreviousNext↓BottomJust 4th

                                                                          Page 4

--------------------------------------------------------------------------------
1     NAME OF REPORTING PERSONS                                                 

Mark Angelo                                                         
--------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                          

(a) |X|                                                             
(b) |_|                                                             
--------------------------------------------------------------------------------
3     SEC USE ONLY                                                              

--------------------------------------------------------------------------------
4     SOURCE OF FUNDS                                                           

OO                                                                  
--------------------------------------------------------------------------------
5     CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|                                                    

--------------------------------------------------------------------------------
6     CITIZENSHIP OR PLACE OF ORGANIZATION                                      

United States                                                       
--------------------------------------------------------------------------------
NUMBER OF SHARES        7     SOLE VOTING POWER                                 
BENEFICIALLY OWNED BY                                                           
EACH REPORTING PERSON         7,472,316 (as Portfolio Manager of Cornell Capital
WITH                          Partners, LP and President of Yorkville Advisors, 
LLC)                
                        --------------------------------------------------------
8     SHARED VOTING POWER       

-0-                 
                        --------------------------------------------------------
9     SOLE DISPOSITIVE POWER    

                              7,472,316 (as Portfolio Manager of Cornell Capital
                             Partners, LP and President of Yorkville Advisors,
LLC)                
                        --------------------------------------------------------
10    SHARED DISPOSITIVE POWER  

-0-                 
--------------------------------------------------------------------------------
11    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON              

7,472,316 (as Portfolio Manager of Cornell Capital Partners, LP and 
President of Yorkville Advisors, LLC)                               
--------------------------------------------------------------------------------
12    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| 

--------------------------------------------------------------------------------
13    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)                        

5.39%                                                               
--------------------------------------------------------------------------------
14    TYPE OF REPORTING PERSON                                                  

IN                                                                  
--------------------------------------------------------------------------------


SC 13D5th Page of 8TOC1stPreviousNext↓BottomJust 5th

                                                                          Page 5

Item 1. Security and Issuer.                                                    

  This statement relates to shares of common stock, par value $0.001 per
share (the "Shares"), of Power Technology, Inc. a Nevada corporation (the       
"Issuer"). The principal executive office of the Issuer is located at 109 North 
Post Oak Lane, Suite 422, Houston, TX 77024.                                    

Item 2. Identity and Background.                                                

    (a)-(c), (f). This statement is being filed by Cornell Capital Partners,
LP ("Cornell"), Yorkville Advisors, LLC ("Yorkville") and Mark Angelo ("Angelo")
(Cornell, Yorkville and Angelo collectively, the "Reporting Persons").          

Cornell, a Delaware limited partnership, whose business address is 101 Hudson   
Street, Suite 3700, Jersey City, New Jersey 07302, is a private equity fund.    
Yorkville, a Delaware LLC, whose business address is 101 Hudson Street, Suite   
3700, Jersey City, New Jersey 07302 is the General Partner of Cornell. Angelo,  
whose business address is 101 Hudson Street, Suite 3700, Jersey City, New Jersey
07302 is the Portfolio Manager of Cornell Capital Partners, LP and President of 
Yorkville. Angelo is a citizen of the United States.                            

 (d) and (e). During the last five years, no Reporting Person has been
convicted in a criminal proceeding (excluding traffic violations or similar     
misdemeanors) or been a party to a civil proceeding of a judicial or            
administrative body of competent jurisdiction in which the Reporting Person was 
or is the subject to a judgment, decree or final order enjoining future         
violations of, or prohibiting or mandating activities subject to, federal or    
state securities laws or finding any violations with respect to such laws.      

Item 3. Source and Amount of Funds or Other Consideration.                      

   The Shares were acquired as compensation pursuant to the Standby Equity
Distribution Agreement dated August 27, 2004, which was subsequently terminated 
and re-executed on May 10, 2005. As of February 15, 2005, Cornell sold its      
interest in the Issuer for $1.00 and good and valuable consideration to an      
affiliated fund, Highgate House, Funds, Ltd. ("Highgate"). Therefore, Cornell's 
obligations under Section 13D have ceased.                                      

Item 4. Purpose of Transaction.                                                 

 Cornell sold its entire interest in the Issuer to an affiliated Fund,
Highgate House Funds, Ltd., for $1.00 and good and valuable consideration.      

Item 5. Interest in Securities of the Issuer.                                   

     (a)-(b) As of December 15, 2005, Cornell was on the record and beneficial
owner of any outstanding shares of the Issuer. Yorkville, as the Investment     
Advisor/Investment Manager of Highgate. and Angelo as the Portfolio Manager of  
Highgate, may be deemed to have a beneficial ownership in the aforementioned    
Shares. Please refer to Highgate's Form 13D filing.                             


SC 13D6th Page of 8TOC1stPreviousNext↓BottomJust 6th

                                                                          Page 6

   Cornell has the sole power to vote and to dispose of all of its Shares.
Yorkville, as the General Partner of Cornell, has the sole power to direct the  
vote and/or to direct the disposition of the Shares directly owned by Cornell.  
Angelo, as the Portfolio Manager of Cornell Capital Partners, LP and President  
of Yorkville, has the sole power to direct the vote and/or to direct the        
disposition of the Shares directly owned by Cornell.                            

      (c) In a private transaction, Cornell sold 7,472,316 shares of the Issuer,
which represents 5.39% of the outstanding shares to Highgate on December 15,    
2005 for $1.00 and good and valuable consideration.                             

(d) Not applicable.                                                 

      (e) On December 15, 2005, Cornell ceased to be obligated to the beneficial
owner of more than five percent of the Issuers outstanding shares.              

Item 6. Contract, Arrangements, Understandings or Relationships with respect to 
Securities of the Issuer.                                                       

Cornell and the Issuer are parties to the following agreements, each
originally dated August 27, 2004, and subsequently terminated and re-executed on
May 10, 2005, relating to the Shares: Standby Equity Distribution Agreement and 
Registration Rights Agreement..                                                 

Except as set forth herein, none of the Reporting Persons has any   
contracts, arrangements, understandings or relationships (legal or otherwise)   
with any person with respect to any securities of the Company, including,       
without limitation, any contracts, arrangements, understandings or relationships
concerning the transfer or voting of such securities, finders fees, joint       
ventures, loan or option arrangements, puts or calls, guarantees of profits,    
division of profits and losses or the giving or withholding of proxies.         

Item 7. Material to be Filed as Exhibits.                                       

Exhibit 1         Joint Filing Agreement.                           


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                                                                          Page 7

 SIGNATURE

 After reasonable inquiry and to the best of each of the undersigned's
knowledge and belief, each certifies that the information set forth in this     
statement is true, complete and correct.                                        

Dated: March 7, 2006                    REPORTING PERSONS:                      

                            CORNELL CAPITAL PARTNERS, LP

                            By:  Yorkville Advisors, LLC
                    Its: General Partner

                   By: /s/ Mark Angelo
                                            ------------------------------------
                 Name: Mark Angelo
                       Its:  Portfolio Manager

                       YORKVILLE ADVISORS, LLC

                   By: /s/ Mark Angelo
                                            ------------------------------------
                 Name: Mark Angelo
                       Its:  Portfolio Manager

               /s/ Mark Angelo
                                        ----------------------------------------
           MARK ANGELO


SC 13DLast Page of 8TOC1stPreviousNext↓BottomJust 8th

                                                                          Page 8

JOINT FILING AGREEMENT

      In accordance with Rule 13d-1(f) promulgated under the Securities Exchange
Act of 1934, as amended, the undersigned hereby agree to the joint filing with  
all other Reporting Persons (as such term is defined in the Schedule 13D        
referred to below) on behalf of each of them of a statement on Schedule 13D     
(including amendments thereto) with respect to the common stock, par value      
$0.001 per share, of Power Technology, Inc. a Nevada corporation, and that this 
Agreement may be included as an Exhibit to such joint filing. This Agreement may
be executed in any number of counterparts, all of which taken together shall    
constitute one and the same instrument.                                         

IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of March 7,
2006.                                                                           

                  REPORTING PERSONS:

                            CORNELL CAPITAL PARTNERS, LP

                            By:  Yorkville Advisors, LLC
                    Its: General Partner

                   By: /s/ Mark Angelo
                                            ------------------------------------
                 Name: Mark Angelo
                       Its:  Portfolio Manager

                       YORKVILLE ADVISORS, LLC

                   By: /s/ Mark Angelo
                                            ------------------------------------
                 Name: Mark Angelo
                       Its:  Portfolio Manager

               /s/ Mark Angelo
                                        ----------------------------------------
           MARK ANGELO

Dates Referenced Herein   and   Documents Incorporated by Reference

Referenced-On Page
This ‘SC 13D’ Filing    Date First  Last      Other Filings
Filed on:3/7/06188-K,  SC 13D
12/15/0556
5/10/05568-K,  8-K/A
2/15/055
8/27/04568-K
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