Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF 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
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Fraser Joshua P
 2. Date of Event Requiring Statement (Month/Day/Year)
09/13/2007		 3. Issuer Name and Ticker or Trading Symbol
CALLWAVE INC [CALL]
(Last)
(First)
(Middle)
136 W. CANON PERDIDO STREET, STE. A		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
VP of Business Development
 5. If Amendment, Date Original Filed(Month/Day/Year)
12/13/2005
(Street)

SANTA BARBARA, CA 93101		 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 Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Incentive Stock Option Grant   (1) 04/06/2014 Common Stock 30,000 $ 2.5 D  
Incentive Stock Option Grant   (1) 06/16/2015 Common Stock 12,000 $ 5.39 D  
Incentive Stock Option Grant   (1) 08/12/2015 Common Stock 10,000 $ 4.56 D  
Incentive Stock Option Grant   (2) 12/13/2015 Common Stock 100,000 $ 4.6 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Fraser Joshua P
136 W. CANON PERDIDO STREET, STE. A
SANTA BARBARA, CA 93101		       VP of Business Development  

Signatures

/Mark Stubbs/ (By POA) 09/13/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(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) 1/8th of the total number of shares shall vest six months from the date of grant, and therafter 1/48th of the remaining shares shall vest in successive equaly monthly installments with total vesting occuring on the four-year anniversary date of the date of grant.
(2) 25% of the total number of shares shall vest six months from the vesting commencement date of December 13, 2005, and thereafter 1/24th of the remaining shares shall vest in successive equaly monthly installments with total vesting occurring on the two year anniversary of the vesting commencement date, except that vesting shall accelerate with respect to all of the then-unvested shares immediately upon a Change of Control
 
Remarks:
This amendment to the original Form 3 is to report the option grants dated as of 4/6/04, 6/16/05 and 8/12/05 which were inadvertently omitted from the Reporting Person's original filing when he became a Section 16 holder.  The exercise prices for the options were the fair market value of the common stock as of the date of the grant.

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

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