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 *
  CRESTVIEW CAPITAL MASTER LLC
2. Date of Event Requiring Statement (Month/Day/Year)
03/28/2007
3. Issuer Name and Ticker or Trading Symbol
CHEMBIO DIAGNOSTICS, INC. [CEMI]
(Last)
(First)
(Middle)
C/O CRESTVIEW CAPITAL FUNDS, 95 REVERE DRIVE, SUITE A
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

NORTHBROOK, IL 60062
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)
Common Stock 1,328,393
D
 

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
Series B 9% Convertible Preferred Stock ("Series B Stock") 01/28/2005(1)   (3) Common Stock 6,747,748 $ 0 D  
Series C 7% Convertible Preferred Stock ("Series C Stock") 09/29/2006(1)   (3) Common Stock 2,500,000 $ 0 D  
Common Stock Purchase Warrants ("Series B Warrants") 01/28/2005(1) 01/28/2010(2) Common Stock 6,229,507 $ 0.61 D  
Common Stock Purchase Warrants ("Series C Warrants") 09/29/2006(1) 09/29/2011 Common Stock 625,000 $ 1 D  

Reporting Owners

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

Signatures

Crestview Capital Master, LLC, By: Crestview Capital Partners, LLC, its sole Manager, By: /s/Daniel I. Warsh 04/09/2007
**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) The terms of the Series B and Series C Stock and Warrants contain restrictions that prevent them from being converted or exercised, respectively, if the number of shares of Common Stock to be issued pursuant to such conversion or exercise would cause Crestview Capital Master, LLC together with its affiliates to own in excess of 4.99% (with respect to the Series B and Series C Stock and the Series B Warrants) or, if the foregoing restriction is waived, with respect to the Series C Preferred Stock or Series C Warrants, 9.99% of the issued and outstanding Common Stock immediately after giving effect to such conversion or exercise.
(2) The Series B Warrants expire within five (5) years of their issuance. Because the Series B Warrants were acquired in two tranches, the first on January 28, 2005, and the second on March 28, 2006, the expiration dates for the tranches differ. The first tranche, consisting of Series B Warrants to purchase 4,672,130 shares of Common Stock, has an expiration date of January 28, 2005. The second tranche, consisting of Series B Warrants to purchase 1,557,377 shares of Common Stock, has an expiration date of March 28, 2011.
(3) The Series B and Series C Stock does not expire.

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