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 *
  Haas G Hunter IV
 2. Date of Event Requiring Statement (Month/Day/Year)
04/14/2008		 3. Issuer Name and Ticker or Trading Symbol
BIMINI CAPITAL MANAGEMENT, INC. [BMNM]
(Last)
(First)
(Middle)
C/O BIMINI CAPITAL MANAGEMENT, INC., 3305 FLAMINGO DRIVE		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
EVP, CIO, Interim CFO & Treas
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

VERO BEACH, FL 32963		 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)
Class A Common Stock 14,632
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
Phantom Stock   (1)   (1) Class A Common Stock 3,636 $ (4) D  
Phantom Stock   (2)   (2) Class A Common Stock 10,176 $ (4) D  
Phantom Stock   (3)   (3) Class A Common Stock 105,417 $ (4) D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Haas G Hunter IV
C/O BIMINI CAPITAL MANAGEMENT, INC.
3305 FLAMINGO DRIVE
VERO BEACH, FL 32963		       EVP, CIO, Interim CFO & Treas  

Signatures

J. Christopher Clifton, Attorney-In-Fact 04/16/2008
**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 phantom stock vests in two equal semi-annual installments on June 15, 2008, and December 15, 2008.
(2) The phantom stock vests in four equal semi-annual installments on June 15, 2008, December 15, 2008, June 15, 2009 and December 15, 2009.
(3) The phantom stock vests in eleven quarterly installments on June 30, September 30, December 31 and March 31 of each year during the vesting period. The first installment vests on June 30, 2008, and the last installment vests on December 31, 2010. 9,583 shares of phantom stock vest on each of the first ten installment vesting dates and 9,587 shares of phantom stock vest on the final installment vesting date.
(4) Each share of phantom stock is the economic equivalent of one share of Bimini Capital Management, Inc.'s Class A Common Stock.

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