Reddy Pailla M – ‘SC 13D/A’ on 6/12/06 re: Bactolac Pharmaceutical, Inc.

On:  Monday, 6/12/06, at 12:18pm ET   ·   Accession #:  1005477-6-3059   ·   File #:  5-50859

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

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13D/A    Amendment Number 1 to Schedule 13D                     4     22K 

Document Table of Contents

SC 13D/A
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D
Rule 13d-101

Under the Securities Exchange Act of 1934 
(Amendment No. 1)*

Advanced Nutraceuticals Inc/TX
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(Name of Issuer)

Common Stock, par value $0.01 
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(Title of Class of Securities)

000760Q201
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(CUSIP Number)

Adam Agron  
Brownstein Hyatt & Farber, P.C. 
410 17th Street, 22nd Floor 
Denver, Colorado 80202
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)

03/17/2006
--------------------------------------------------------------------------------
(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 that is the subject of this Schedule 13D, and is filing  
this schedule because of ss. 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 Rule 13d-7 for other   
parties to whom copies are to be sent.                                          

  * 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).                                                                     

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SC 13D/A
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CUSIP No. 000760Q201                                                            
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(1) Names and I.R.S. Identification Nos.(entities only) of reporting persons.   

Pailla M. Reddy                                                         
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(2) Check the appropriate box if a member of a group (see instructions)   (a)|_|
                                                                          (b)|_|
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(3) SEC use only.                                                               

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(4) Source of funds (see instructions).                                         

PF                                                                      
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(5) Check if disclosure of legal proceedings is required pursuant to Items   |_|
2(d) or 2(e).                                                           
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(6) Citizenship or place of organization.                                       

United States                                                           
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Number of shares beneficially owned by each reporting person with:              

(7) Sole voting power:                                                  
2,426,496 (1)                                                   

(8) Shared voting power:                                                
0                                                               

(9) Sole dispositive power:                                             
2,426,496 (1)                                                   

(10) Shared dispositive power:                                          
0                                                             

--------------------------------------------------------------------------------
(11) Aggregate amount beneficially owned by each reporting person.              

2,426,496 (1)                                                         
--------------------------------------------------------------------------------
(12) Check if the aggregate amount in Row (11) excludes certain shares       |_|
(see instructions).                                                   
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(13) Percent of class represented by amount in Row (11).                        

51.26%                                                                
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(14) Type of reporting person (see instructions).                               

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

----------                                                                      
(1)     Includes 70,000 shares of common stock underlying options to purchase   
      common stock that the reporting person has the right to acquire within
60 days of this Schedule 13D/A.                                 

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Item 1. Security and Issuer.                                                    

       Title and class of securities:  Common Stock, par value $0.01 per
share.                                                    

Issuer:  Advanced Nutraceuticals, Inc.                    

       Name and address of the principal executive office of the issuer:
      106 South University Boulevard, Unit #14, Denver, Colorado 80209

Item 2. Identity and Background.                                                

(a) Name of Reporting Person:  Pailla M. Reddy.             

 (b) Address of Reporting Person:  c/o Bactolac Pharmaceutical
Inc., 7 Oser Avenue, Hauppauge, New York 11788.     

  (c) Reporting Person is a director of the issuer and the Chief
             Executive Officer and President of Bactolac Pharmaceutical, Inc.,
             a wholly-owned subsidiary of the issuer. The principal address of
          Bactolac Pharmaceutical, Inc. is 7 Oser Avenue, Hauppauge, New
York 11788.                                         

    (d) The reporting person has not during the last five years been
            convicted in a criminal proceeding (excluding traffic violations
or similar midemeanors).                            

      (e) The reporting person has not during the last five years been a
            party to a civil proceeding of a judicial or administrative body
              of competent jurisdiction and is not 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 violation with respect to such laws. 

(f) United States of America.                               

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

       The reporting person paid the exercise price for 33,333 shares of
          the issuer's common stock by delivering 3,383 shares of the issuer's
common stock to the issuer.                               

Item 4. Purpose of Transaction.                                                 

       The purpose of the acquisition of the common stock is investment.
          The Reporting Person currently has no plan or proposal which relates
to or would result in:                                    

       (a) The acquisition by any person of additional securities of the
issuer, or the disposition of securities of the issuer;   

   (b) an extraordinary corporate transaction, such as a merger,
       reorganization or liquidation, involving the issuer or any of its
subsidiaries;                                             

         (c) a sale or transfer of a material amount of assets of the issuer
or an of its subsidiaries;                                

           (d) any change in the present board of directors or management of the
           issuer, including any plans or proposals to change the number or term
  of directors or to fill any existing vacancies on the board;

       (e) any material change in the present capitalization or dividend
policy of the issuer;                                     

         (f) any other material change in the issuer's business or corporate
 structure, including but not limited to, if the issuer is a
         registered closed-end investment company, any plans or proposals to
   make any changes in its investment policy for which a vote is
   required by Section 13 of the Investment Company Act of 1940;

(g) changes in the issuer's charter, bylaws or instruments
 corresponding thereto or other actions which may impede the
acquisition of control of the issuer by any person;       

           (h) causing a class of securities of the issuer to be delisted from a
     national securities exchange or to cease to be authorized to be
         quoted in an inter-dealer quotation system of a registered national
securities association;                                   

   (i) a class of securities of the issuer becoming eligible for
          termination of registration pursuant to Section 12(g)(4) of the Act;
or                                                        

(j) any action similar to any of those enumerated above.  

Item 5. Interest in Securities of the Issuer.                                   

     (a) Amount beneficially owned:  2,426,496 shares of common stock,
         including 70,000 shares of common stock underlying options to
            purchase common stock that the reporting person has the right to
acquire within 60 days of this Schedule 13D/A.      

Percentage of the class:  51.26%.                   

     (b) The reporting person has the sole power to vote or direct the
          vote and sole power to dispose or to direct the disposition of
              2,426,496 shares of the issuer. The reporting person does not have
           any shared power to vote or direct the vote, or shared power to
          dispose or direct the disposition of any shares of the issuer.

    (c) On March 17, 2006, the reporting person exercised options to
             purchase 25,000 shares of the issuer's common stock at $0.506 per
              share. The reporting person paid the exercise price for the 25,000
             shares of the issuer's common stock by delivering 4,961 shares of
the issuer's common stock to the issuer.            

(d) Not applicable.                                         

(e) Not applicable.                                         

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to
Securities of the Issuer.                                       

None.                                                     

Item 7. Material to be Filed as Exhibits.                                       

None.                                                     

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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: 06/07/2006                      /s/ Pailla M. Reddy                       
                  Name:  Pailla M. Reddy

The original statement shall be signed by each person on whose behalf the       
statement is filed or his authorized representative. If the statement is signed 
on behalf of a person by his authorized representative (other than an executive 
officer or general partner of the filing person), evidence of the               
representative's authority to sign on behalf of such person shall be filed with 
the statement: Provided, however, That a power of attorney for this purpose     
which is already on file with the Commission may be incorporated by reference.  
The name and any title of each person who signs the statement shall be typed or 
printed beneath his signature.                                                  

ATTENTION--Intentional misstatements or omissions of fact constitute Federal    
criminal violations (See 18 U.S.C. 1001). (Secs. 13(d), 13(g), 14(d), 23, 48    
Stat. 894, 895, 901; sec. 8, 49 Stat. 1379; sec. 203(a), 49 Stat. 704; sec. 10, 
78 Stat. 88a; Secs. 2, 3, 82 Stat. 454, 455; secs. 1, 2, 3-5, 84 Stat. 1497;    
sec. 18, 89 Stat. 155; secs. 202, 203, 91 Stat. 1494, 1498, 1499; 15 U.S.C.     
78m(d), 78m(g), 78n(d), 78w) [44 FR 2145, Jan. 9, 1979; 44 FR 11751, Mar. 2,    
1979; 44 FR 70340, Dec. 6, 1979; 47 FR 11466, Mar. 16, 1982; 61 FR 49959, Sept. 
24, 1996; 62 FR 35340, July 1, 1997; 63 FR 2867, Jan. 16, 1998; 63 FR 15287,    
Mar. 31, 1998]                                                                  

Page 4 of 4 Pages                                                               

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘SC 13D/A’ Filing		Date		First		Last			Other Filings
Filed on:		6/12/06
		3/17/06		3					4
		3/31/98		4					10-Q
		1/16/98		4
		7/1/97		4
		9/24/96		4
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