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


SCHEDULE 13G


Under the Securities Exchange Act of 1934
(Amendment No. 9)*

CTI Industries Corporation
(Name of Issuer)

  Common Stock, No Par Value
(Title of Class of Securities)

125961 30 0
(CUSIP Number)

Check the follow box if a fee is being paid with this statement. 9 (A fee is not required only if the filing person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (see Rule 13d-7)


*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 the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be Afiled@ for the purpose of Section 18 of the Securities Exchange Act of 1934 (AAct@) 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).

 
CUSIP No. 125961 30 0 
13G
Page 2 of 4 Pages
 
 
 
  
 
1
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 
Howard W. Schwan
  
 
2
 
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 
(a)  o
 
 
(b)  o
 
3
 
SEC USE ONLY
  
 
4
 
CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States
  
 
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
 
 
 
 
 
 
5
 
 
 
6
 
 
 
7
 
 
8
  
 
SOLE VOTING POWER
 
129,819
SHARED VOTING POWER
 
 
SOLE DISPOSITIVE POWER
 
129,819
SHARED DISPOSITIVE POWER
 
 

 
9
 
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
129,819
 
10
 
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
 
o
 
11
 
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
4.75%
 
12
 
TYPE OF REPORTING PERSON*
 
IN
 
CUSIP No. 125961 30 0 
13G
Page 3 of 4 Pages


ITEM 1.
      
           
 
(a)
Name of Issuer
   
CTI Industries Corporation
           
 
(b)
Address of Issuer=s Principal Executive Offices
   
22160 North Pepper Road
   
Barrington, Illinois 60010
           
ITEM 2
      
           
 
(a)
Name of Person Filing
   
Howard W. Schwan
           
 
(b)
Address of principal Business Office or, if none, Residence
   
22160 North Pepper Road
   
Barrington, Illinois 60010
           
 
(c)
Citizenship
   
United States
           
 
(d)
Title of Class of Securities
   
Common Stock, No Par Value
           
 
(e)
CUSIP Number
   
125961 30 0
           
ITEM 3
      
           
 
N/A
        
           
ITEM 4
OWNERSHIP
 
           
 
(a)
Amount Beneficially Owned
   
129,819
  
           
 
(b)
Percent of Class
   
4.75%
  
           
 
(c)
Number of shares as to which such person has:
           
   
(i)
sole power to vote or to direct the vote
       
129,819
  
           
   
(ii)
shared power to vote or to direct the vote
           
           
   
(iii)
sole power to dispose or to direct the disposition of
       
129,819
  
           
   
(iv)
shared power to dispose or to direct the disposition of
           
           
ITEM 5
OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
           
   
N/A
      
           
ITEM 6
OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
           
   
N/A
      
           
ITEM 7
IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
           
   
N/A
      
           
ITEM 8
IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
           
   
N/A
      
           
ITEM 9
NOTICE OF DISSOLUTION OF GROUP.
           
   
N/A
      
           
ITEM 10
CERTIFICATION.
           
   
N/A
      
 

CUSIP No. 125961 30 0 
13G
Page 4 of 4 Pages

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. The filing of this statement shall not be construed as an admission that the undersigned is for the purpose of Section 13(d) or 13(g) of the Act, the beneficial owner of any securities covered by this statement.

    February 15, 2008
 
 		  
 
Date  
 
     
     /s/ Howard W. Schwan
 
Howard W. Schwan