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 *
Smith Arthur L
  2. Issuer Name and Ticker or Trading Symbol
Digerati Technologies, Inc. [DTGID]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
8023 HERMOSA HILL
3. Date of Earliest Transaction (Month/Day/Year)
07/16/2009
(Street)

SAN ANTONIO, TX 78256
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 11/28/2011(1) 11/28/2011(1) A   46,241 A $ 0 46,241 D  
Common Stock 07/02/2012(2) 07/02/2012(2) A   14,221 A $ 0 60,462 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 common stock $ 4.6 07/16/2009   A(3)   3,652   07/16/2009 09/29/2015 Common Stock, $.001 par value per share 3,652 $ 0 3,652 D  
Option to purchase common stock $ 4.6 07/16/2009   A(3)   4,565   07/16/2009 10/03/2015 Common Stock, $.001 par value per share 4,565 $ 0 8,217 D  
Option to purchase common stock $ 4.6 07/16/2009   A(3)   2,609   07/16/2009 09/25/2016 Common Stock, $.001 par value per share 2,609 $ 0 10,826 D  
Option to purchase common stock $ 4.6 07/16/2009   A(3)   3,913   07/16/2009 08/15/2017 Common Stock, $.001 par value per share 3,913 $ 0 14,739 D  
Option to purchase common stock $ 5.18 02/08/2011   A   5,652   02/08/2011 02/01/2018 Common Stock, $.001 par value per share 5,652 $ 0 20,391 D  
Option to purchase common stock $ 5.75 04/06/2012   A   10,870   04/06/2012 04/06/2019 Common Stock, $.001 par value per share 10,870 $ 0 31,261 D  
Convertible Preferred Stock $ 0 11/26/2012   A   200,000 (4)   12/30/2012(5) 12/30/2012(5) Common Stock, $.001 par value per share 200,000 $ 0 231,261 I Personal

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Smith Arthur L
8023 HERMOSA HILL
SAN ANTONIO, TX 78256
  X      

Signatures

 Arthur L. Smith   12/06/2012
**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 the Company's Non-Standardized Profit Sharing Plan
(2) Grant Pursuant to 2005 Incentive Compensation Plan
(3) Code A/K - Pursuant to repricing of outstanding options on 07/16/2009
(4) Reporting owner has a direct contractual right to acquire common stock (200,000).
(5) This date is approximately 12/30/2012. Directly owned Preferred stock is convertible automatically to 200,000 common shares on effective date of Schedule 14C.

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