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 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 *
LUGSDIN ANGUS CHARLES
  2. Issuer Name and Ticker or Trading Symbol
Coda Octopus Group, Inc. [CDOC.PK]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Sen. VP of Market Development
(Last)
(First)
(Middle)
C/O CODA OCTOPUS GROUP, INC., 164 WEST 25TH STREET 6TH FLOOR
3. Date of Earliest Transaction (Month/Day/Year)
08/08/2008
(Street)

NEW YORK, NY 10001
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, $0.001 par value 08/08/2008   P   40,000 A $ 0.28 302,587 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
Options $ 1.3 08/14/2008   A   0     (1) 05/01/2009 Common Stock 17,000 $ 1.3 0 D  
Options $ 1.3 08/14/2008   A   0   11/01/2008 05/05/2012 Common Stock 16,500 $ 1.3 0 D  
Options $ 1.3 08/14/2008   A   0   11/01/2009 05/05/2012 Common Stock 16,500 $ 1.3 0 D  
Options $ 0               (1) 05/01/2010 Common Stock 100,000   0 D  
Options $ 0             07/01/2007   (2) Common Stock 50,000   0 D  
Warrants $ 0             06/13/2007 06/13/2012 Common Stock 28,500   0 D  
Warrants $ 0             06/13/2007 06/13/2012 Common Stock 28,500   0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
LUGSDIN ANGUS CHARLES
C/O CODA OCTOPUS GROUP, INC.
164 WEST 25TH STREET 6TH FLOOR
NEW YORK, NY 10001
      Sen. VP of Market Development  

Signatures

 /s/ Angus Lugsdin   08/14/2008
**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) Immediate
(2) % 34% are vested immediately, 33% on the first anniversary, and 33% on the second anniversary.

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