Schedule 13G



Washington, D.C. 20549




(Rule 13D-102)



Under the Securities Exchange Act of 1934

(Amendment No.     )*





(Name of Issuer)


Common Stock

(Title of Class of Securities)



13126N 10 1

                                (CUSIP Number)                                


December 31, 2004

(Date of Event which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which this Schedule is filed:


¨ Rule 13d-1(b)


¨ Rule 13d-1(c)


x Rule 13d-1(d)


*   The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.


The information required on the remainder of this cover page shall not bee deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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Names of Reporting Persons.

I.R.S. Identification Nos. of above persons (entities only).


            David F. Hofstatter


Check the Appropriate Box if a Member of a Group (See Instructions)

(a)  ¨

(b)  x


SEC Use Only



Citizenship or Place of Organization


            United States











  5.    Sole Voting Power.


                1,410,682 (1)

  6.    Shared Voting Power.


                1,650,682 (2)

  7.    Sole Dispositive Power.


                1,410,682 (1)

  8.    Shared Dispositive Power.


                1,650,682 (2)


Aggregate Amount Beneficially Owned by Each Reporting Person.


            1,650,682 (1)(2)


Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See instructions).






Percent of Class Represented by Amount in Row (9).




Type of Reporting Person (See Instructions).





(1) Includes 30,000 shares of Common Stock that may be acquired by Mr. Hofstatter within 60 days upon the exercise of stock options to purchase shares of Common Stock.
(2) Includes 240,000 shares of Common Stock owned by the David F. Hofstatter Grantor Retained Annuity Trust, dated 5/03/04, of which Mr. Hofstatter is sole trustee.

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Item 1.

  Name of Issuer          


   Name of Issuer:          
         CallWave, Inc.          


   Address of Issuer’s Principal Executive Offices:          
         136 W. Canon Perdido Street, Ste. A, Santa Barbara, CA 93101.          

Item 2.


Identity and Background.





   Name of Person Filing:          
         David F. Hofstatter          


   Address of Principal Business Office, or if none, Residence:          
         136 W. Canon Perdido Street, Ste. A, Santa Barbara, CA 93101          


         United States          


   Title of Class of Securities:          
         Common Stock, par value $0.0001 per share          


   CUSIP Number:          
         13126N 10 1          

Item 3.

  If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:     
         x    Not Applicable.
    (a)    ¨    Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
    (b)    ¨    Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
    (c)    ¨    Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).
    (d)    ¨    Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8).
    (e)    ¨    An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
    (f)    ¨    An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
    (g)    ¨    A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
    (h)    ¨    A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
    (i)    ¨    A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
    (j)    ¨    Group, in accordance with §240.13d-1(b)(1)(ii)(J).

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Item 4.

     Calculated pursuant to Rule 13d-3(d). The percentages of beneficial ownership below are based on 19,358,717 shares of Common Stock outstanding as of December 31, 2004 as reported in the Issuer’s quarterly report for the period ended December 31, 2004 on Form 10-Q.          


        David F. Hofstatter          
     (a)    Amount beneficially owned:          
     (b)    Percent of class:          
     (c)    Number of shares as to which the person has:          
          (i)    Sole power to vote or to direct the vote:          
          (ii)    Shared power to vote or to direct the vote:          
          (iii)    Sole power to dispose or to direct the disposition of:          
          (iv)    Shared power to dispose or to direct the disposition of:          

Item 5.

   Ownership of Five Percent or Less of a Class.     
     If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following ¨.     

Item 6.

   Ownership of More than Five Percent on Behalf of Another Person.          
     Not Applicable.          

Item 7.

   Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person.
     Not Applicable.

Item 8.

   Identification and Classification of Members of the Group.          
     Not applicable.          

Item 9.

   Notice of Dissolution of Group.          
     Not applicable.          

Item 10.

     By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or          

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     influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.          


[The remainder of this page was intentionally left blank.]

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After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this Statement is true, complete and correct.


Dated: February 14, 2005


/s/ David F. Hofstatter

David F. Hofstatter