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 *
ComVest Capital, LLC
  2. Issuer Name and Ticker or Trading Symbol
CRDENTIA CORP [CRDT.OB]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
ONE NORTH CLEMATIS STREET, SUITE 300
3. Date of Earliest Transaction (Month/Day/Year)
07/07/2008
(Street)

WEST PALM BEACH, FL 33401
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ 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

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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
Warrant $ 0.001 07/07/2008   J(1)     8,000,000 08/22/2008 02/29/2012 Common Stock 8,000,000 (1) 0 D (3) (4)  
Convertible Term Note $ 0.3 07/07/2008   J(2)   4,000,000   07/07/2008 02/28/2011 Common Stock 13,333,333 (2) 13,858,333 D (3) (4)  
Warrant $ 0.35 07/07/2008   J(2)   525,000   07/07/2008 06/30/2013 Common Stock 525,000 (2) 13,858,333 D (3) (4)  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
ComVest Capital, LLC
ONE NORTH CLEMATIS STREET
SUITE 300
WEST PALM BEACH, FL 33401
    X    
COMVEST CAPITAL MANAGEMENT LLC
ONE NORTH CLEMATIS STREET
SUITE 300
WEST PALM BEACH, FL 33401
    X    
ComVest Group Holdings, LLC
ONE NORTH CLEMANTIS STREET
SUITE 300
WEST PALM BEACH, FL 33401
    X    
FALK MICHAEL
830 THIRD AVENUE
4TH FLOOR
NEW YORK, NY 10017
    X    

Signatures

 ComVest Capital LLC, By: ComVest Capital Management LLC, By: /s/ Cecilio M. Rodriduez   07/09/2008
**Signature of Reporting Person Date

 ComVest Capital Management LLC, By: /s/ Cecilio M. Rodriduez   07/09/2008
**Signature of Reporting Person Date

 ComVest Group Holdings LLC, By: /s/ Cecilio M. Rodriduez   07/09/2008
**Signature of Reporting Person Date

 /s/ Michael S. Falk   07/09/2008
**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) On July 7, 2008, the Reporting Person sold to Crdentia Corp. (the "Issuer") and the Issuer redeemed from the Reporting Person a warrant to purchase 8,000,000 shares of Common Stock for an aggregate price of $2,400,000.
(2) On July 7, 2008, the Issuer and the Reporting Person entered into that certain Amended and Restated Revolving Credit and Term Loan Agreement, pursuant to which the Reporting Person loaned the Issuer an additional $1,500,000 (which was added to a previously non-convertible $2,500,000 term note) and received an Amended and Restated Term Note (the "Note") originally convertible into 13,333,333 shares of Common Stock of the Issuer and a warrant to purchase 525,000 shares of Common Stock. The Note bears interest at a rate of 12.5% per annum which is capitalized monthly, commencing on July 1, 2008, which interest is then added to the outstanding principal amount of the Note. At the option of the holder, the principle and accrued interest of the Note may be converted into shares of Common Stock at the conversion price.
(3) The Reporting Person is a Delaware limited liability company. The managing member of the Reporting Person is ComVest Capital Management LLC ("Management"). ComVest Group Holdings, LLC ("CGH") is the managing member of Management and Michael Falk ("Falk") is the Chairman and principal member of CGH. Management, CGH and Falk, all of whom maintain offices at the same address as the Reporting Person, are filing this Form 4 jointly with the Reporting Person. As of the date hereof, the Reporting Person directly beneficially owns 13,858,333 derivative securities of the issuer. Management, as managing member of the Reporting Person, indirectly beneficially owns such securities. CGH, as the managing member of Management, indirectly beneficially owns such securities. (continued on footnote 4)
(4) Falk, by virtue of his status as Chairman and principal member of CGH, may be deemed to have indirect beneficial ownership of the securities owned by the Reporting Person. However, Falk disclaims any beneficial ownership of such securities, and the filing of this Form 4 shall not be deemed an admission that Falk is, for purposes of Section 16 of the Securities Exchange Act or otherwise, the beneficial owner of any securities covered by this Form 4.

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