Ownership Submission
FORM 5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Form 3 Holdings Reported
Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL 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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1. Name and Address of Reporting Person *
FALCON SOLUTIONS LTD
 2. Issuer Name and Ticker or Trading Symbol
PRECISION AUTO CARE INC [PACI] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
_____ Officer (give title below) __X__ Other (specify below)
Former Board Member
(Last)
(First)
(Middle)

2, HARBORMASTER PLACE, CUSTOME HOUSE DOCK		 3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
06/30/2007
(Street)


DUBLIN I IRELAND, L2 00000		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Reporting
(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 at end of Issuer's Fiscal Year
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount (A) or (D) Price
Common Stock (1) 04/03/2007 04/03/2007 P 1,520,421 (2) D $ 0 5,109,333 (3) I (4) President of Company holding shares

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 2270 (9-02)

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 at End of Issuer's Fiscal Year
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
FALCON SOLUTIONS LTD
2, HARBORMASTER PLACE
CUSTOME HOUSE DOCK
DUBLIN I IRELAND, L2 00000		       Former Board Member

Signatures

Frederick F. Simmons by Power of Attorney for Falcon Solutions Ltd. 07/23/2007
**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) Owned by Falcon Solutions, Ltd., a limited partnership, wholly owned by members of the Zambrano family. Mauricio Zambrano, former PACI Directors, owns more than 10% of Falcon Solutions, Ltd.
(2) For estate purposes, 1,520,421 shares of PACI stock owned by Falcon Solutions, Ltd. was transferred to Meta Investments, LLP a company incorporated in England
(3) Remaining securities owned as follows: 3,597 Common Stock owned directly by Mauricio Zambrano 882,000 Common Stock owned by Desarrollo Integrado, S.A. de C.V. (company owned by Mr. Zambrano) 4,047,336 Common Stock (Warrants) owned by Desarrollo Integrado, S.A. de C.V. (company owned by Mr. Zambrano) 175,400 Series A Cumulative Redeemable Preferred Stock owned by Desarrollo Integrado, S.A. de C.V. (company owned by Mr. Zambrano)
(4) Only 3,597 shares of Common Stock directly owned by Mauricio Zambrano. All other holdings are indirectly held via Desarrollo Integrado, S.A. de C.V.

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