CTI Industries (CTIB) Moves Up At Close

February 15, 2008 4:06 PM EST

CTI Industries (Nasdaq: CTIB) moves Up at close 8% likely because of this 13D filing late today. Below is an excerpt from it.

Identity and Background.

This Statement is filed by John H. Schwan, an individual whose business address 22160 N. Pepper Road, Barrington, IL 60010. Mr. Schwan is both Chairman of the Board and a Vice President of the Company. The address of the Company’s principal executive offices is 22160 N. Pepper Road, Barrington, IL 60010. Mr. Schwan is a citizen of the United States of America.

During the past five years, Mr. Schwan has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), nor has he been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is 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.

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

On February 8, 2008, Mr. Schwan acquired 93,000 shares of Common Stock through the exercise of a warrant for the purchase of such shares at the price of $4.87per share. The warrant was issued on March 20, 2003 in connection with the loan by Mr. Schwan on an aggregate of $500,000 to the Company, the principal amount of which was reflected in subordinated notes issued to Mr. Schwan by the Company. The purchase price for the shares purchased by the exercise of the warrant was paid by the surrender and cancellation of $452,910 in principal amount of such notes. As of the date of this Statement, no arrangements with third parties have been made with respect to financing the acquisition of additional shares of Common Stock.

CTI Industries Corporation engages in the development, production, marketing, and sale of novelty products, specialty and printed films, and flexible containers.

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