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
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Caraveo Ruben R
  2. Issuer Name and Ticker or Trading Symbol
ATSI COMMUNICATIONS INC/DE [ATSX]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Vice President
(Last)
(First)
(Middle)
618 BELMARK COURT
3. Date of Earliest Transaction (Month/Day/Year)
01/27/2005
(Street)

SAN ANOTNIO, TX 78258
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, $.001 par value per share 01/27/2005   A(1)   125,000 A $ 0 125,000 D  
Common Stock, $.001 par value 01/28/2005   S   4,000 D $ 0.6 121,000 D  
Common Stock, $.001 par value per share 05/20/2005   S   20,000 D $ 0.21 101,000 D  
Common Stock, $.001 par value per share 07/22/2005   S   12,500 D $ 0.19 88,500 D  
Common Stock, $.001 par value per share 07/25/2005   S   12,500 D $ 0.2 76,000 D  
Common Stock, $.001 par value per share 01/25/2005   S   17,500 D $ 0.19 58,500 D  
Common Stock, $.001 par value per share 11/08/2005   S   25,000 D $ 0.32 33,500 D  
Common Stock, $.001 par value per share 11/08/2005   S   2,500 D $ 0.33 31,000 D  
Common Stock, $.001 par value per share 11/17/2005   S   31,000 D $ 0.28 0 D  
Common Stock, $.001 par value per share 01/31/2006   A(2)   200,000 A $ 0 200,000 D  
Common Stock, $.001 par value per share 02/16/2006   S   25,000 D $ 0.4 175,000 D  
Common Stock, $.001 par value per share 02/17/2006   S   5,000 D $ 0.4 170,000 D  
Common Stock, $.001 par value per share 02/21/2006   S   20,000 D $ 0.4 150,000 D  
Common Stock, $.001 par value per share 10/16/2006   A(2)   175,000 A $ 0 325,000 D  

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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
Option to Purchase $ 0.16 09/29/2005   A(2)   850,000   09/29/2005(3) 09/29/2015 Common Stock, $.001 par value per share 850,000 $ 0 850,000 D  
Option to Purchase Common Stock $ 0.21 09/25/2006   A(2)   250,000   09/25/2006(3) 09/25/2016 Common Stock, $.001 par value per share 250,000 $ 0 1,100,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Caraveo Ruben R
618 BELMARK COURT
SAN ANOTNIO, TX 78258
      Vice President  

Signatures

 Ruben R Caraveo   10/17/2007
**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) Grant pursuant to 2004 Stock Plan
(2) Granted pursuant to the 2005 Incentive Compensation Plan
(3) Exercisable one third on the date of grant, one third on the first anniversary of the grant and one third on the second anniversary of the date of grant

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