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

                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934

                                Zone 4 Play, Inc.
                                (Name of Issuer)

                         Common Stock, $0.001 par value
                         (Title of Class of Securities)

                                    989759105

                                 (CUSIP Number)

                                November 9, 2006
             (Date of event which requires filing of this statement)


     Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
     [ ]  Rule 13d-1(b)
     [X] Rule 13d-1(c)
     [ ] Rule 13d-1(d)



----------------
     *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 "filed" for 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).



                               Page 1 of 19 Pages



CUSIP No. 989759105                    13G                   Page 2 of 19 Pages

--------------------------------------------------------------------------------
     (1)    NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE
            PERSONS

            Smithfield Fiduciary LLC
--------------------------------------------------------------------------------
     (2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
                                                               (a)  [X]
                                                               (b)  [ ]
--------------------------------------------------------------------------------
     (3)    SEC USE ONLY
--------------------------------------------------------------------------------
     (4)    CITIZENSHIP OR PLACE OF ORGANIZATION

            Cayman Islands, British West Indies
--------------------------------------------------------------------------------
NUMBER OF      (5)  SOLE VOTING POWER
                    0
SHARES         -----------------------------------------------------------------

BENEFICIALLY   (6)  SHARED VOTING POWER
                    500,000 shares of Common Stock

                    Warrants to purchase 500,000 shares of Common Stock
OWNED BY       -----------------------------------------------------------------

EACH           (7)  SOLE DISPOSITIVE POWER
                    0
REPORTING      -----------------------------------------------------------------

PERSON WITH    (8)  SHARED DISPOSITIVE POWER
                    500,000 shares of Common Stock

                    Warrants to purchase 500,000 shares of Common Stock

--------------------------------------------------------------------------------
     (9)     AGGREGATE AMOUNT BENEFICIALLY OWNED
             BY EACH REPORTING PERSON
             500,000 shares of Common Stock

             Warrants to purchase 500,000 shares of Common Stock
--------------------------------------------------------------------------------
     (10)    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
             SHARES **
                                                                           [ ]
--------------------------------------------------------------------------------
     (11)    PERCENT OF CLASS REPRESENTED
             BY AMOUNT IN ROW (9)
             3.05%
--------------------------------------------------------------------------------
     (12)    TYPE OF REPORTING PERSON **
             OO
--------------------------------------------------------------------------------

                     ** SEE INSTRUCTIONS BEFORE FILLING OUT!



CUSIP No. 989759105                    13G                   Page 3 of 19 Pages

--------------------------------------------------------------------------------
     (1)    NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE
            PERSONS

            Highbridge International LLC
--------------------------------------------------------------------------------
     (2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
                                                               (a)  [X]
                                                               (b)  [ ]
--------------------------------------------------------------------------------
     (3)    SEC USE ONLY
--------------------------------------------------------------------------------
     (4)    CITIZENSHIP OR PLACE OF ORGANIZATION

            Cayman Islands, British West Indies
--------------------------------------------------------------------------------
NUMBER OF      (5)  SOLE VOTING POWER
                    0
SHARES         -----------------------------------------------------------------

BENEFICIALLY   (6)  SHARED VOTING POWER
                    1,571,700 shares of Common Stock

                    Warrants to purchase 500,000 shares of Common Stock
OWNED BY       -----------------------------------------------------------------

EACH           (7)  SOLE DISPOSITIVE POWER
                    0
REPORTING      -----------------------------------------------------------------

PERSON WITH    (8)  SHARED DISPOSITIVE POWER
                    1,571,700 shares of Common Stock

                    Warrants to purchase 500,000 shares of Common Stock
--------------------------------------------------------------------------------
     (9)     AGGREGATE AMOUNT BENEFICIALLY OWNED
             BY EACH REPORTING PERSON
             1,571,700 shares of Common Stock

             Warrants to purchase 500,000 shares of Common Stock
--------------------------------------------------------------------------------
     (10)    CHECK BOX IF THE AGGREGATE AMOUNT
             IN ROW (9) EXCLUDES CERTAIN SHARES **
                                                                           [ ]
--------------------------------------------------------------------------------
     (11)    PERCENT OF CLASS REPRESENTED
             BY AMOUNT IN ROW (9)
             6.31%
--------------------------------------------------------------------------------
     (12)    TYPE OF REPORTING PERSON **
             OO
--------------------------------------------------------------------------------

                     ** SEE INSTRUCTIONS BEFORE FILLING OUT!



CUSIP No. 989759105                    13G                   Page 4 of 19 Pages

--------------------------------------------------------------------------------
     (1)    NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE
            PERSONS

            Highbridge Capital Corporation
--------------------------------------------------------------------------------
     (2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
                                                               (a)  [X]
                                                               (b)  [ ]
--------------------------------------------------------------------------------
     (3)    SEC USE ONLY
--------------------------------------------------------------------------------
     (4)    CITIZENSHIP OR PLACE OF ORGANIZATION

            Cayman Islands, British West Indies
--------------------------------------------------------------------------------
NUMBER OF      (5)  SOLE VOTING POWER
                    0
SHARES         -----------------------------------------------------------------

BENEFICIALLY   (6)  SHARED VOTING POWER
                    1,571,700 shares of Common Stock

                    Warrants to purchase 500,000 shares of Common Stock
OWNED BY       -----------------------------------------------------------------

EACH           (7)  SOLE DISPOSITIVE POWER
                    0
REPORTING      -----------------------------------------------------------------

PERSON WITH    (8)  SHARED DISPOSITIVE POWER
                    1,571,700 shares of Common Stock

                    Warrants to purchase 500,000 shares of Common Stock
--------------------------------------------------------------------------------
     (9)     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
             1,571,700 shares of Common Stock

             Warrants to purchase 500,000 shares of Common Stock
--------------------------------------------------------------------------------
     (10)    CHECK BOX IF THE AGGREGATE AMOUNT
             IN ROW (9) EXCLUDES CERTAIN SHARES **
                                                                           [ ]
--------------------------------------------------------------------------------
     (11)    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
             6.31%
--------------------------------------------------------------------------------
     (12)    TYPE OF REPORTING PERSON **
             OO
--------------------------------------------------------------------------------

                     ** SEE INSTRUCTIONS BEFORE FILLING OUT!



CUSIP No. 989759105                    13G                   Page 5 of 19 Pages

--------------------------------------------------------------------------------
     (1)    NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE
            PERSONS

            Highbridge Capital L.P.
--------------------------------------------------------------------------------
     (2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
                                                               (a)  [X]
                                                               (b)  [ ]
--------------------------------------------------------------------------------
     (3) SEC USE ONLY
--------------------------------------------------------------------------------
     (4) CITIZENSHIP OR PLACE OF ORGANIZATION

            State of Delaware
--------------------------------------------------------------------------------
NUMBER OF      (5)  SOLE VOTING POWER
                    0
SHARES         -----------------------------------------------------------------

BENEFICIALLY   (6)  SHARED VOTING POWER
                    1,571,700 shares of Common Stock

                    Warrants to purchase 500,000 shares of Common Stock
OWNED BY       -----------------------------------------------------------------

EACH           (7)  SOLE DISPOSITIVE POWER
                    0
REPORTING      -----------------------------------------------------------------

PERSON WITH    (8)  SHARED DISPOSITIVE POWER
                    1,571,700 shares of Common Stock

                    Warrants to purchase 500,000 shares of Common Stock
--------------------------------------------------------------------------------
     (9)     AGGREGATE AMOUNT BENEFICIALLY OWNED
             BY EACH REPORTING PERSON
             1,571,700 shares of Common Stock

             Warrants to purchase 500,000 shares of Common Stock
--------------------------------------------------------------------------------
     (10)    CHECK BOX IF THE AGGREGATE AMOUNT
             IN ROW (9) EXCLUDES CERTAIN SHARES **
                                                                           [ ]
--------------------------------------------------------------------------------
     (11)    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
             6.31%
--------------------------------------------------------------------------------
    (12)     TYPE OF REPORTING PERSON **
             PN
--------------------------------------------------------------------------------

                     ** SEE INSTRUCTIONS BEFORE FILLING OUT!



CUSIP No. 989759105                    13G                   Page 6 of 19 Pages

--------------------------------------------------------------------------------
     (1)    NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE
            PERSONS

            Highbridge Master L.P.
--------------------------------------------------------------------------------
     (2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
                                                               (a)  [X]
                                                               (b)  [ ]
--------------------------------------------------------------------------------
     (3) SEC USE ONLY
--------------------------------------------------------------------------------
     (4) CITIZENSHIP OR PLACE OF ORGANIZATION

            Cayman Islands, British West Indies
--------------------------------------------------------------------------------
NUMBER OF      (5)  SOLE VOTING POWER
                    0
SHARES         -----------------------------------------------------------------

BENEFICIALLY   (6)  SHARED VOTING POWER
                    1,571,700 shares of Common Stock

                    Warrants to purchase 500,000 shares of Common Stock
OWNED BY       -----------------------------------------------------------------

EACH           (7)  SOLE DISPOSITIVE POWER
                    0
REPORTING      -----------------------------------------------------------------

PERSON WITH    (8)  SHARED DISPOSITIVE POWER
                    1,571,700 shares of Common Stock

                    Warrants to purchase 500,000 shares of Common Stock
--------------------------------------------------------------------------------
     (9)     AGGREGATE AMOUNT BENEFICIALLY OWNED
             BY EACH REPORTING PERSON
             1,571,700 shares of Common Stock

             Warrants to purchase 500,000 shares of Common Stock
--------------------------------------------------------------------------------
     (10)    CHECK BOX IF THE AGGREGATE AMOUNT
             IN ROW (9) EXCLUDES CERTAIN SHARES **
                                                                           [ ]
--------------------------------------------------------------------------------
     (11)    PERCENT OF CLASS REPRESENTED
             BY AMOUNT IN ROW (9)
             6.31%
--------------------------------------------------------------------------------
     (12)    TYPE OF REPORTING PERSON **
             PN
--------------------------------------------------------------------------------

                     ** SEE INSTRUCTIONS BEFORE FILLING OUT!



CUSIP No. 989759105                    13G                   Page 7 of 19 Pages

     (1)    NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE
            PERSONS

            Highbridge GP, Ltd.
--------------------------------------------------------------------------------
     (2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
                                                               (a)  [X]
                                                               (b)  [ ]
--------------------------------------------------------------------------------
     (3)    SEC USE ONLY
--------------------------------------------------------------------------------
     (4)    CITIZENSHIP OR PLACE OF ORGANIZATION

            Cayman Islands, British West Indies
--------------------------------------------------------------------------------
NUMBER OF      (5)  SOLE VOTING POWER
                    0
SHARES         -----------------------------------------------------------------

BENEFICIALLY   (6)  SHARED VOTING POWER
                    1,571,700 shares of Common Stock

                    Warrants to purchase 500,000 shares of Common Stock
OWNED BY       -----------------------------------------------------------------

EACH           (7)  SOLE DISPOSITIVE POWER
                    0
REPORTING      -----------------------------------------------------------------

PERSON WITH    (8)  SHARED DISPOSITIVE POWER
                    1,571,700 shares of Common Stock

                    Warrants to purchase 500,000 shares of Common Stock
--------------------------------------------------------------------------------
     (9)     AGGREGATE AMOUNT BENEFICIALLY OWNED
             BY EACH REPORTING PERSON
             1,571,700 shares of Common Stock

             Warrants to purchase 500,000 shares of Common Stock
--------------------------------------------------------------------------------
     (10)    CHECK BOX IF THE AGGREGATE AMOUNT
             IN ROW (9) EXCLUDES CERTAIN SHARES **
                                                                           [ ]
--------------------------------------------------------------------------------
     (11)    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
             6.31%
--------------------------------------------------------------------------------
     (12)    TYPE OF REPORTING PERSON **
             OO
--------------------------------------------------------------------------------

                     ** SEE INSTRUCTIONS BEFORE FILLING OUT!



CUSIP No. 989759105                    13G                   Page 8 of 19 Pages

     (1)    NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE
            PERSONS

            Highbridge GP, LLC
--------------------------------------------------------------------------------
     (2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
                                                               (a)  [X]
                                                               (b)  [ ]
--------------------------------------------------------------------------------
     (3)    SEC USE ONLY
--------------------------------------------------------------------------------
     (4)    CITIZENSHIP OR PLACE OF ORGANIZATION

            State of Delaware
--------------------------------------------------------------------------------
NUMBER OF      (5)  SOLE VOTING POWER
                    0
SHARES         -----------------------------------------------------------------

BENEFICIALLY   (6)  SHARED VOTING POWER
                    1,571,700 shares of Common Stock

                    Warrants to purchase 500,000 shares of Common Stock
OWNED BY       -----------------------------------------------------------------

EACH           (7)  SOLE DISPOSITIVE POWER
                    0
REPORTING      -----------------------------------------------------------------

PERSON WITH    (8)  SHARED DISPOSITIVE POWER
                    1,571,700 shares of Common Stock

                    Warrants to purchase 500,000 shares of Common Stock
--------------------------------------------------------------------------------
     (9)     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
             1,571,700 shares of Common Stock

             Warrants to purchase 500,000 shares of Common Stock
--------------------------------------------------------------------------------
     (10)    CHECK BOX IF THE AGGREGATE AMOUNT
             IN ROW (9) EXCLUDES CERTAIN SHARES **
                                                                           [ ]
--------------------------------------------------------------------------------
     (11)    PERCENT OF CLASS REPRESENTED
             BY AMOUNT IN ROW (9)
             6.31%
--------------------------------------------------------------------------------
     (12)    TYPE OF REPORTING PERSON **
             OO
--------------------------------------------------------------------------------

                     ** SEE INSTRUCTIONS BEFORE FILLING OUT!



CUSIP No. 989759105                    13G                   Page 9 of 19 Pages

--------------------------------------------------------------------------------
     (1)    NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE
            PERSONS

            Highbridge Capital Management, LLC                        20-1901985
--------------------------------------------------------------------------------
     (2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
                                                               (a)  [X]
                                                               (b)  [ ]
--------------------------------------------------------------------------------
     (3)    SEC USE ONLY
--------------------------------------------------------------------------------
     (4)    CITIZENSHIP OR PLACE OF ORGANIZATION

            State of Delaware
--------------------------------------------------------------------------------
NUMBER OF      (5)  SOLE VOTING POWER
                    0
SHARES         -----------------------------------------------------------------

BENEFICIALLY   (6)  SHARED VOTING POWER
                    1,571,700 shares of Common Stock

                    Warrants to purchase 500,000 shares of Common Stock
OWNED BY       -----------------------------------------------------------------

EACH           (7)  SOLE DISPOSITIVE POWER
                    0
REPORTING      -----------------------------------------------------------------

PERSON WITH    (8)  SHARED DISPOSITIVE POWER
                    1,571,700 shares of Common Stock

                    Warrants to purchase 500,000 shares of Common Stock
--------------------------------------------------------------------------------
     (9)     AGGREGATE AMOUNT BENEFICIALLY OWNED
             BY EACH REPORTING PERSON
             1,571,700 shares of Common Stock

             Warrants to purchase 500,000 shares of Common Stock
--------------------------------------------------------------------------------
     (10)    CHECK BOX IF THE AGGREGATE AMOUNT
             IN ROW (9) EXCLUDES CERTAIN SHARES **
                                                                           [ ]
--------------------------------------------------------------------------------
     (11)    PERCENT OF CLASS REPRESENTED
             BY AMOUNT IN ROW (9)
             6.31%
--------------------------------------------------------------------------------
     (12)    TYPE OF REPORTING PERSON **
             OO - Limited Liability Company
--------------------------------------------------------------------------------

                     ** SEE INSTRUCTIONS BEFORE FILLING OUT!



CUSIP No. 989759105                    13G                   Page 10 of 19 Pages

--------------------------------------------------------------------------------
     (1)    NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE
            PERSONS

            Glenn Dubin
--------------------------------------------------------------------------------
     (2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
                                                               (a)  [X]
                                                               (b)  [ ]
--------------------------------------------------------------------------------
     (3)    SEC USE ONLY
--------------------------------------------------------------------------------
     (4)    CITIZENSHIP OR PLACE OF ORGANIZATION

            United States
--------------------------------------------------------------------------------
NUMBER OF      (5)  SOLE VOTING POWER
                    0
SHARES         -----------------------------------------------------------------

BENEFICIALLY   (6)  SHARED VOTING POWER
                    1,571,700 shares of Common Stock

                    Warrants to purchase 500,000 shares of Common Stock
OWNED BY       -----------------------------------------------------------------

EACH           (7)  SOLE DISPOSITIVE POWER
                    0
REPORTING      -----------------------------------------------------------------

PERSON WITH    (8)  SHARED DISPOSITIVE POWER
                    1,571,700 shares of Common Stock

                    Warrants to purchase 500,000 shares of Common Stock
--------------------------------------------------------------------------------
     (9)     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
             1,571,700 shares of Common Stock

             Warrants to purchase 500,000 shares of Common Stock
--------------------------------------------------------------------------------
     (10)    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
             SHARES **
                                                                           [ ]
--------------------------------------------------------------------------------
     (11)    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
             6.31%
--------------------------------------------------------------------------------
     (12)    TYPE OF REPORTING PERSON **
             IN
--------------------------------------------------------------------------------

                     ** SEE INSTRUCTIONS BEFORE FILLING OUT!



CUSIP No. 989759105                    13G                   Page 11 of 19 Pages

--------------------------------------------------------------------------------
     (1)    NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE
            PERSONS

            Henry Swieca
--------------------------------------------------------------------------------
     (2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
                                                               (a)  [X]
                                                               (b)  [ ]
--------------------------------------------------------------------------------
     (3)    SEC USE ONLY
--------------------------------------------------------------------------------
     (4)    CITIZENSHIP OR PLACE OF ORGANIZATION

            United States
--------------------------------------------------------------------------------
NUMBER OF      (5)  SOLE VOTING POWER
                    0
SHARES         -----------------------------------------------------------------

BENEFICIALLY   (6)  SHARED VOTING POWER
                    1,571,700 shares of Common Stock

                    Warrants to purchase 500,000 shares of Common Stock
OWNED BY       -----------------------------------------------------------------

EACH           (7)  SOLE DISPOSITIVE POWER
                    0
REPORTING      -----------------------------------------------------------------

PERSON WITH    (8)  SHARED DISPOSITIVE POWER
                    1,571,700 shares of Common Stock

                    Warrants to purchase 500,000 shares of Common Stock
--------------------------------------------------------------------------------
     (9)     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
             1,571,700 shares of Common Stock

             Warrants to purchase 500,000 shares of Common Stock
--------------------------------------------------------------------------------
     (10)    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
             SHARES **
                                                                           [ ]
--------------------------------------------------------------------------------
     (11)    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
             6.31%
--------------------------------------------------------------------------------
     (12)    TYPE OF REPORTING PERSON **
             IN
--------------------------------------------------------------------------------

                     ** SEE INSTRUCTIONS BEFORE FILLING OUT!



CUSIP No. 989759105                    13G                   Page 12 of 19 Pages

         This report on Schedule 13G (this "Schedule 13G") relates to the
500,000 shares of common stock, $0.001 par value (the "Common Stock") of Zone 4
Play, Inc. (the "Company") and warrants to purchase an additional 500,000 shares
of Common Stock of the Company beneficially owned by Smithfield Fiduciary LLC,
and 1,071,700 additional shares of Common Stock of the Company beneficially
owned by Highbridge International LLC, all as of December 6, 2006.

Item 1.

(a)  Name of Issuer

            Zone 4 Play, Inc.

(b)  Address of Issuer's Principal Executive Offices

            103 Foulk Road
            Wilmington, Delaware 19803

Item 2(a).  Name of Person Filing
Item 2(b).  Address of Principal Business Office
Item 2(c).  Citizenship

           Smithfield Fiduciary LLC
           c/o Harmonic Fund Services
           The Cayman Corporate Center, 4th Floor
           27 Hospital Road
           George Town, Grand Cayman
           Cayman Islands, British West Indies
           Citizenship:  Cayman Islands, British West Indies

           Highbridge International LLC
           c/o Harmonic Fund Services
           The Cayman Corporate Centre, 4th Floor
           27 Hospital Road
           Grand Cayman, Cayman Islands, British West Indies
           Citizenship:  Cayman Islands, British West Indies

           Highbridge Capital Corporation
           c/o Harmonic Fund Services
           The Cayman Corporate Centre, 4th Floor
           27 Hospital Road
           Grand Cayman, Cayman Islands, British West Indies
           Citizenship:  Cayman Islands, British West Indies

           Highbridge Capital L.P.
           c/o Highbridge Capital Management, LLC
           9 West 57th Street, 27th Floor
           New York, New York 10019
           Citizenship:    State of Delaware

           Highbridge Master L.P.
           c/o Harmonic Fund Services
           The Cayman Corporate Centre, 4th Floor
           27 Hospital Road
           Grand Cayman, Cayman Islands, British West Indies
           Citizenship:  Cayman Islands, British West Indies




CUSIP No. 989759105                    13G                   Page 13 of 19 Pages

           Highbridge GP, Ltd.
           c/o Harmonic Fund Services
           The Cayman Corporate Centre, 4th Floor
           27 Hospital Road
           Grand Cayman, Cayman Islands, British West Indies
           Citizenship:  Cayman Islands, British West Indies

           Highbridge GP, LLC
           c/o Highbridge Capital Management, LLC
           9 West 57th Street, 27th Floor
           New York, New York 10019
           Citizenship:  State of Delaware

           Highbridge Capital Management, LLC  IRS#: 20-1901985
           9 West 57th Street, 27th Floor
           New York, New York  10019
           Citizenship:  State of Delaware

           Glenn Dubin
           c/o Highbridge Capital Management, LLC
           9 West 57th Street, 27th Floor
           New York, New York 10019
           Citizenship:  United States

           Henry Swieca
           c/o Highbridge Capital Management, LLC
           9 West 57th Street, 27th Floor
           New York, New York 10019
           Citizenship:  United States

Item 2(d)  Title of Class of Securities

            Common Stock, par value $0.001 per share

Item 2(e)  CUSIP Number

            989759105

Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or
(c), check whether the person filing is a:

(a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C.
        78o).

(b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in Section 3(a)(19) of the Act (15
        U.S.C. 78c).

(d) [ ] Investment company registered under Section 8 of the Investment
        Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with Rule
        13d-1(b)(1)(ii)(F);



CUSIP No. 989759105                    13G                   Page 14 of 19 Pages

(g) [ ] A parent holding company or control person in accordance with Rule
        13d-1(b)(1)(ii)(G);

(h) [ ] A savings association as defined in Section 3(b) of the Federal
        Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment
        company under Section 3(c)(14) of the Investment Company Act of 1940 (15
        U.S.C. 80a-3);

(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

If this statement is filed pursuant to Rule 13d-1(c), check this box. [X]

Item 4.   Ownership

            Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.

            (a) Amount beneficially owned:

                As of the date of this filing, Smithfield Fiduciary LLC is the
beneficial owner of 500,000 shares of Common Stock and warrants to purchase an
additional 500,000 shares of Common Stock and Highbridge International LLC is
the beneficial owner of 1,071,700 shares of Common Stock. In addition, each of
Highbridge International LLC, Highbridge Master L.P., Highbridge Capital
Corporation, Highbridge Capital L.P., Highbridge GP, Ltd., Highbridge GP, LLC,
Highbridge Capital Management, LLC, Glenn Dubin and Harry Swieca (collectively,
the "Reporting Persons") may be deemed the beneficial owner of the 500,000
shares of Common Stock and warrants to purchase an additional 500,000 shares of
Common Stock owned by Smithfield Fiduciary LLC and 1,071,700 shares of Common
Stock owned by Highbridge International LLC.

                 Smithfield Fiduciary LLC is a wholly-owned subsidiary of
Highbridge International LLC. Highbridge International LLC is a subsidiary of
Highbridge Master L.P. Highbridge Capital Corporation and Highbridge Capital
L.P. are limited partners of Highbridge Master L.P. Highbridge GP, Ltd. is the
General Partner of Highbridge Master L.P. Highbridge GP, LLC is the General
Partner of Highbridge Capital L.P. Highbridge Capital Management, LLC is the
trading manager of Smithfield Fiduciary LLC, Highbridge International LLC,
Highbridge Capital Corporation, Highbridge Capital L.P. and Highbridge Master
L.P. Glenn Dubin is a Co-Chief Executive Officer of Highbridge Capital
Management, LLC. Henry Swieca is a Co-Chief Executive Officer of Highbridge
Capital Management, LLC. The foregoing should not be construed in and of itself
as an admission by any Reporting Person and/or by Smithfield Fiduciary LLC as to
beneficial ownership of Common Stock owned by another Reporting Person and/or by
Smithfield Fiduciary LLC. In addition, each of Highbridge Capital Management,
LLC, Highbridge GP, Ltd., Highbridge GP, LLC, Glenn Dubin and Henry Swieca
disclaims beneficial ownership of Common Stock owned by Smithfield Fiduciary LLC
and Highbridge International LLC.

            (b) Percent of class:

                Based upon the Issuer's Prospectus filed pursuant to Rule
424(b)(3) on November 17, 2006, the Company had 32,319,031 shares of
Common Stock outstanding as of November 1, 2006. Therefore, based on the
Company's



CUSIP No. 989759105                    13G                   Page 15 of 19 Pages

outstanding Common Stock and assuming exercise of the 500,000 warrants
owned by Smithfield Fiduciary LLC, Smithfield Fiduciary LLC may be deemed to
beneficially own 3.05% of the outstanding Common Stock of the Company, and each
of the Reporting Persons may be deemed to beneficially own 6.31% of the
outstanding Common Stock of the Company. The foregoing should not be construed
in and of itself as an admission by any Reporting Person and/or by Smithfield
Fiduciary LLC as to beneficial ownership of Common Stock owned by another
Reporting Person and/or by Smithfield Fiduciary LLC.

            (c) Number of shares as to which such person has:

                (i)   Sole power to vote or to direct the vote

                      0

                (ii)  Shared power to vote or to direct the vote

                      See Item 4(a)

                (iii) Sole power to dispose or to direct the disposition of

                      0

                 (iv) Shared power to dispose or to direct the disposition of

                      See Item 4(a)

Item 5.  Ownership of Five Percent or Less of a Class

            Not applicable.

Item 6.  Ownership of More than Five Percent on Behalf of Another Person

            Not applicable.

Item  7.   Identification and Classification of the Subsidiary Which Acquired
           the Security Being Reported on by the Parent Holding Company or
           Control Person

            Not applicable.

Item 8.  Identification and Classification of Members of the Group

         See Exhibit I.

Item 9.  Notice of Dissolution of Group

         Not applicable.

Item 10. Certification

         By signing below each of the undersigned certifies that, to the best
of its knowledge and belief, the securities referred to above were not acquired
and are not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were not acquired
and are not



CUSIP No. 989759105                    13G                   Page 16 of 19 Pages


held in connection with or as a participant in any transaction having that
purpose or effect.

Exhibits:

Exhibit I: Joint Filing Agreement, dated as of December 6, 2006, by and among
Smithfield Fiduciary LLC, Highbridge International LLC, Highbridge Capital
Corporation, Highbridge Capital L.P., Highbridge Master L.P., Highbridge GP,
Ltd., Highbridge GP, LLC, Highbridge Capital Management, LLC, Glenn Dubin and
Henry Swieca.



CUSIP No. 989759105                    13G                   Page 17 of 19 Pages

SIGNATURES

            After reasonable inquiry and to the best of its knowledge and
belief, each of the undersigned certifies that the information with respect to
it set forth in this statement is true, complete, and correct.

Dated: December 6, 2006




                                            

SMITHFIELD FIDUCIARY LLC                       HIGHBRIDGE INTERNATIONAL LLC

By: Highbridge Capital Management, LLC         By: Highbridge Capital Management, LLC
    Its Trading Manager                            Its Trading Manager

By: /s/ Carolyn Rubin                          By: /s/ Carolyn Rubin
    ----------------------------                   -----------------------------
Name: Carolyn Rubin                            Name: Carolyn Rubin
Title: Managing Director                      Title: Managing Director


HIGHBRIDGE CAPITAL CORPORATION                 HIGHBRIDGE CAPITAL L.P.

By: Highbridge Capital Management, LLC         By: Highbridge GP, LLC
    Its Trading Manager                            its General Partner

By: /s/ Carolyn Rubin                          By: /s/ Clive Harris
    ----------------------------                   -----------------------------
Name: Carolyn Rubin                            Name: Clive Harris
Title: Managing Director                       Title: Director


HIGHBRIDGE MASTER L.P.                         HIGHBRIDGE GP, LTD.

By: Highbridge GP, Ltd.
    its General Partner
                                               By: /s/ Clive Harris
                                                   -----------------------------
                                               Name: Clive Harris
                                               Title: Director

By: /s/ Clive Harris
    ----------------------------
Name: Clive Harris
Title: Director


HIGHBRIDGE GP, LLC                             HIGHBRIDGE CAPITAL MANAGEMENT, LLC


By: /s/ Clive Harris
    ----------------------------
Name: Clive Harris
Title: Director                                By: /s/ Carolyn Rubin
                                                   -----------------------------
                                               Name: Carolyn Rubin
                                               Title: Managing Director


CUSIP No. 989759105                    13G                   Page 18 of 19 Pages


/s/ Glenn Dubin                                /s/ Henry Swieca
--------------------------------               ---------------------------------
GLENN DUBIN                                    HENRY SWIECA





CUSIP No. 989759105                    13G                   Page 18 of 19 Pages


                                    EXHIBIT I

                             JOINT FILING AGREEMENT

This will confirm the agreement by and among the undersigned that the Schedule
13G filed with the Securities and Exchange Commission on or about the date
hereof with respect to the beneficial ownership by the undersigned of the Common
Stock, $0.001 par value, of Zone 4 Play, Inc., is being filed, and all
amendments thereto will be filed, on behalf of each of the persons and entities
named below in accordance with Rule 13d-1(k) under the Securities Exchange Act
of 1934, as amended. This Agreement may be executed in two or more counterparts,
each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument.

Dated as of December 6, 2006




                                            

SMITHFIELD FIDUCIARY LLC                       HIGHBRIDGE INTERNATIONAL LLC

By: Highbridge Capital Management, LLC         By: Highbridge Capital Management, LLC
    Its Trading Manager                            Its Trading Manager

By: /s/ Carolyn Rubin                          By: /s/ Carolyn Rubin
    ----------------------------                   -----------------------------
Name: Carolyn Rubin                            Name: Carolyn Rubin
Title: Managing Director                      Title: Managing Director


HIGHBRIDGE CAPITAL CORPORATION                 HIGHBRIDGE CAPITAL L.P.

By: Highbridge Capital Management, LLC         By: Highbridge GP, LLC
    Its Trading Manager                            its General Partner

By: /s/ Carolyn Rubin                          By: /s/ Clive Harris
    ----------------------------                   -----------------------------
Name: Carolyn Rubin                            Name: Clive Harris
Title: Managing Director                       Title: Director


HIGHBRIDGE MASTER L.P.                         HIGHBRIDGE GP, LTD.

By: Highbridge GP, Ltd.
    its General Partner
                                               By: /s/ Clive Harris
                                                   -----------------------------
                                               Name: Clive Harris
                                               Title: Director

By: /s/ Clive Harris
    ----------------------------
Name: Clive Harris
Title: Director


HIGHBRIDGE GP, LLC                             HIGHBRIDGE CAPITAL MANAGEMENT, LLC


By: /s/ Clive Harris
    ----------------------------
Name: Clive Harris
Title: Director                                By: /s/ Carolyn Rubin
                                                   -----------------------------
                                               Name: Carolyn Rubin
                                               Title: Managing Director


CUSIP No. 989759105                    13G                   Page 19 of 19 Pages


/s/ Glenn Dubin                                /s/ Henry Swieca
--------------------------------               ---------------------------------
GLENN DUBIN                                    HENRY SWIECA