Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
CRESTVIEW CAPITAL MASTER LLC
   2. Issuer Name and Ticker or Trading Symbol
WARP TECHNOLOGY HOLDINGS INC [WARP] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
95 REVERE DRIVE, SUITE A		 3. Date of Earliest Transaction (Month/Day/Year)
12/27/2005
(Street)

NORTHBROOK, IL 60062		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, par value $.00001 per share 12/27/2005   P   1,528,759 A $ 1 3,528,759 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Common Stock Purchase Warrant $ 1.25 12/27/2005   D     2,000,000 01/31/2005 01/31/2010 Common Stock 2,000,000 (1) 3,528,759 D  
Common Stock Purchase Warrant $ 1.25 12/27/2005   D     779,562 01/31/2005 01/31/2010 Common Stock 779,562 (1) 3,528,759 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
CRESTVIEW CAPITAL MASTER LLC
95 REVERE DRIVE, SUITE A
NORTHBROOK, IL 60062		     X    

Signatures

 CRESTVIEW CAPITAL MASTER, LLC /s/ Robert Hoyt, Manager   03/21/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Non-cash consideration, see below
 
Remarks:
On December 27, 2005, the Reporting Person entered into an agreement with the Issuer whereby the Reporting Person exchanged
 an aggregate of 2,779,562 Common Stock Purchase Warrants for 1,528,759 newly issued shares of Common Stock of the Issuer.
 The Reporting Person paid no cash consideration in this transaction.  As previously reported on Form 3 dated January 31,
 2005, the 2,779,562 Common Stock Purchase Warrants contained a beneficial ownership limitation on exercise to the extent
 that such exercise would result in, together with other securities of the Issuer held by the Reporting Person and its
 Affiliates, the Reporting Person beneficially owning in excess of 9.99% of the issued and outstanding Common Stock of the
 Issuer.  Immediately prior to this transaction, the Reporting Person beneficially owned 39.1% of the issued and outstanding
 Common Stock, thus the Common Stock Purchase Warrants were not currently exercisable at the time of this transaction.
The Reporting Person beneficially owns 3,528,759 shares of Common Stock or 49.9% of the 7,068,489 issued and outstanding
 shares of Common Stock of the Issuer as of December 27, 2005, based on the sum of (i) 3,539,730 issued and outstanding
 shares, as reported in the Issuer's Form 10-QSB filed in November 11, 2005, (ii) 2,000,000 shares of Common Stock underlying
 the currently-convertible Subordinated Secured Promissory Note held by the Reporting Person and (iii) 1,528,759 newly issued
 shares of Common Stock held by the Reporting Person.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.