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 *
  AUGUSTINE FUND LP
 2. Date of Event Requiring Statement (Month/Day/Year)
05/25/2006		 3. Issuer Name and Ticker or Trading Symbol
PAID INC [PAYD.OB]
(Last)
(First)
(Middle)
141 WEST JACKSON BOULEVARD, SUITE 2182		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
05/31/2006
(Street)

CHICAGO, IL 60604		 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 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)
Common Stock 22,859,741 (1)
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

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
AUGUSTINE FUND LP
141 WEST JACKSON BOULEVARD
SUITE 2182
CHICAGO, IL 60604		     X    
Augustine Capital Management, LLC
141 W. JACKSON
SUITE 2182
CHICAGO, IL 60604		     X    
Porter Brian D
141 W. JACKSON
SUITE 2182
CHICAGO, IL 60604		     X    
Porter John T
141 W. JACKSON
SUITE 2182
CHICAGO, IL 60604		     X    
Duszynski Thomas F
141 W. JACKSON
SUITE 2182
CHICAGO, IL 60604		     X    

Signatures

/s/John T. Porter, President of Augustine Capital Management LLC, General Partner of Augustine Fund, L.P. 06/06/2006
**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) 100,000 of these shares were inadvertently omitted from the reporting person's original Form 3. This number reflects the correct ownership by the reporting person on May 25, 2006.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

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