Edgar Filing: ARCADIA RESOURCES, INC

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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3235-0287

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Vicis Capital, LLC

2. Issuer Name and Ticker or Trading Symbol
ARCADIA RESOURCES, INC [KAD]

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)

445 PARK AVENUE, SUITE 1901

3. Date of Earliest Transaction (Month/Day/Year)
12/15/2010

(Street)

NEW YORK, NY 10022

4. If Amendment, Date Original Filed(Month/Day/Year)
01/20/2011

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)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	12/15/2010		S		51,000	D	$ 0.33 ⁽²⁾	28,553,760	I ⁽¹⁾	By Vicis Capital Master Fund
Common Stock	12/17/2010		S		30,000	D	$ 0.3037 ⁽³⁾	28,523,760	I ⁽¹⁾	By Vicis Capital Master Fund
Common Stock	12/20/2010		S		91,000	D	$ 0.3043 ⁽⁴⁾	28,432,760	I ⁽¹⁾	By Vicis Capital Master Fund
Common Stock	12/21/2010		S		75,400	D	$ 0.3 ⁽⁵⁾	28,357,360	I ⁽¹⁾	By Vicis Capital Master Fund
Common Stock	12/22/2010		S		187,175	D	$ 0.3071 ⁽⁶⁾	28,170,185	I ⁽¹⁾	By Vicis Capital Master Fund
Common Stock	12/23/2010		S		125,648	D	$ 0.3088 ⁽⁷⁾	28,044,537	I ⁽¹⁾	By Vicis Capital Master Fund
Common Stock	12/27/2010		S		197,640	D	$ 0.2933 ⁽⁸⁾	27,846,897	I ⁽¹⁾	By Vicis Capital Master Fund
Common Stock	12/28/2010		S		12,715	D	$ 0.2985	27,834,182	I ⁽¹⁾	By Vicis Capital Master Fund
Common Stock	12/29/2010		S		10,000	D	$ 0.295	27,824,182	I ⁽¹⁾	By Vicis Capital Master Fund
Common Stock	12/30/2010		S		2,000	D	$ 0.305	27,822,182	I ⁽¹⁾	By Vicis Capital Master Fund
Common Stock	12/31/2010		S		19,700	D	$ 0.3021 ⁽⁹⁾	27,802,482	I ⁽¹⁾	By Vicis Capital Master Fund
Common Stock	01/03/2011		S		179,250	D	$ 0.313 ⁽¹⁰⁾	27,623,232	I ⁽¹⁾	By Vicis Capital Master Fund
Common Stock	01/04/2011		S		342,000	D	$ 0.3057 ⁽¹¹⁾	27,281,232	I ⁽¹⁾	By Vicis Capital Master Fund
Common Stock	01/05/2011		S		139,400	D	$ 0.309 ⁽¹²⁾	27,141,832	I ⁽¹⁾	By Vicis Capital Master Fund
Common Stock	01/06/2011		S		311,900	D	$ 0.3112 ⁽¹³⁾	26,829,932	I ⁽¹⁾	By Vicis Capital Master Fund
Common Stock	01/07/2011		S		1,589,100	D	$ 0.3288 ⁽¹⁴⁾	25,240,832	I ⁽¹⁾	By Vicis Capital Master Fund
Common Stock	01/10/2011		S		428,400	D	$ 0.3332 ⁽¹⁵⁾	24,812,432	I ⁽¹⁾	By Vicis Capital Master Fund
Common Stock	01/11/2011		S		201,704	D	$ 0.3367 ⁽¹⁶⁾	24,610,728	I ⁽¹⁾	By Vicis Capital Master Fund
Common Stock	01/12/2011		S		601,550	D	$ 0.3392 ⁽¹⁷⁾	24,009,178	I ⁽¹⁾	By Vicis Capital Master Fund
Common Stock	01/13/2011		S		204,400	D	$ 0.3434 ⁽¹⁸⁾	23,804,778	I ⁽¹⁾	By Vicis Capital Master Fund
Common Stock	01/14/2011		S		447,170	D	$ 0.3428 ⁽¹⁹⁾	23,357,608	I ⁽¹⁾	By Vicis Capital Master Fund
Common Stock	01/14/2011		S		48,500	D	$ 0.34	23,309,108	I ⁽¹⁾	By Vicis Capital Master Fund
Common Stock	01/18/2011		S		219,356	D	$ 0.3427 ⁽²⁰⁾	23,089,752	I ⁽¹⁾	By Vicis Capital Master Fund
Common Stock	01/19/2011		S		39,940	D	$ 0.3323 ⁽²¹⁾	23,049,812	I ⁽¹⁾	By Vicis Capital Master Fund

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

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Vicis Capital, LLC 445 PARK AVENUE, SUITE 1901 NEW YORK, NY 10022		X
Vicis Capital Master Fund 445 PARK AVENUE, SUITE 1901 NEW YORK, NY 10022		X

Signatures

/s/ Andrew Comito, Compliance Officer, Vicis Capital LLC		01/21/2011
^**Signature of Reporting Person		Date
/s/ Andrew Comito, Authorized Representative, Vicis Capital Master Fund		01/21/2011
^**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)	Represents the indirect holdings of Vicis Capital LLC. All of the foregoing represents securities held directly by Vicis Capital Master Fund. Vicis Capital LLC acts as investment advisor to Vicis Capital Master Fund and therefore has voting and dispositive power over all the foregoing shares. For the purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended, Vicis Capital LLC may be deemed to be the beneficial owner of, but hereby disclaims such beneficial ownership of, the foregoing shares.
(2)	This amount represents the weighted average transaction price for the transactions reported on this line. The actual transaction prices ranged from $0.33 to $0.3323. The reporting person hereby agrees to provide, upon request by the SEC staff, by the Issuer, or by any security holder of the Issuer, full information regarding the number of shares sold by Vicis Capital Master Fund at each separate price.
(3)	This amount represents the weighted average transaction price for the transactions reported on this line. The actual transaction prices ranged from $0.30 to $0.31. The reporting person hereby agrees to provide, upon request by the SEC staff, by the Issuer, or by any security holder of the Issuer, full information regarding the number of shares sold by Vicis Capital Master Fund at each separate price.
(4)	This amount represents the weighted average transaction price for the transactions reported on this line. The actual transaction prices ranged from $0.30 to $0.32. The reporting person hereby agrees to provide, upon request by the SEC staff, by the Issuer, or by any security holder of the Issuer, full information regarding the number of shares sold by Vicis Capital Master Fund at each separate price.
(5)	This amount represents the weighted average transaction price for the transactions reported on this line. The actual transaction prices ranged from $0.30 to $0.3011. The reporting person hereby agrees to provide, upon request by the SEC staff, by the Issuer, or by any security holder of the Issuer, full information regarding the number of shares sold by Vicis Capital Master Fund at each separate price.
(6)	This amount represents the weighted average transaction price for the transactions reported on this line. The actual transaction prices ranged from $0.3045 to $0.316. The reporting person hereby agrees to provide, upon request by the SEC staff, by the Issuer, or by any security holder of the Issuer, full information regarding the number of shares sold by Vicis Capital Master Fund at each separate price.
(7)	This amount represents the weighted average transaction price for the transactions reported on this line. The actual transaction prices ranged from $0.311 to $0.315. The reporting person hereby agrees to provide, upon request by the SEC staff, by the Issuer, or by any security holder of the Issuer, full information regarding the number of shares sold by Vicis Capital Master Fund at each separate price.
(8)	This amount represents the weighted average transaction price for the transactions reported on this line. The actual transaction prices ranged from $0.29 to $0.31. The reporting person hereby agrees to provide, upon request by the SEC staff, by the Issuer, or by any security holder of the Issuer, full information regarding the number of shares sold by Vicis Capital Master Fund at each separate price.
(9)	This amount represents the weighted average transaction price for the transactions reported on this line. The actual transaction prices ranged from $0.298 to $0.315. The reporting person hereby agrees to provide, upon request by the SEC staff, by the Issuer, or by any security holder of the Issuer, full information regarding the number of shares sold by Vicis Capital Master Fund at each separate price.
(10)	This amount represents the weighted average transaction price for the transactions reported on this line. The actual transaction prices ranged from $0.30 to $0.3274. The reporting person hereby agrees to provide, upon request by the SEC staff, by the Issuer, or by any security holder of the Issuer, full information regarding the number of shares sold by Vicis Capital Master Fund at each separate price.
(11)	This amount represents the weighted average transaction price for the transactions reported on this line. The actual transaction prices ranged from $0.3025 to $0.3125. The reporting person hereby agrees to provide, upon request by the SEC staff, by the Issuer, or by any security holder of the Issuer, full information regarding the number of shares sold by Vicis Capital Master Fund at each separate price.
(12)	This amount represents the weighted average transaction price for the transactions reported on this line. The actual transaction prices ranged from $0.305 to $0.315. The reporting person hereby agrees to provide, upon request by the SEC staff, by the Issuer, or by any security holder of the Issuer, full information regarding the number of shares sold by Vicis Capital Master Fund at each separate price.
(13)	This amount represents the weighted average transaction price for the transactions reported on this line. The actual transaction prices ranged from $0.3075 to $0.315. The reporting person hereby agrees to provide, upon request by the SEC staff, by the Issuer, or by any security holder of the Issuer, full information regarding the number of shares sold by Vicis Capital Master Fund at each separate price.
(14)	This amount represents the weighted average transaction price for the transactions reported on this line. The actual transaction prices ranged from $0.315 to $0.341. The reporting person hereby agrees to provide, upon request by the SEC staff, by the Issuer, or by any security holder of the Issuer, full information regarding the number of shares sold by Vicis Capital Master Fund at each separate price.
(15)	This amount represents the weighted average transaction price for the transactions reported on this line. The actual transaction prices ranged from $0.325 to $0.345. The reporting person hereby agrees to provide, upon request by the SEC staff, by the Issuer, or by any security holder of the Issuer, full information regarding the number of shares sold by Vicis Capital Master Fund at each separate price.
(16)	This amount represents the weighted average transaction price for the transactions reported on this line. The actual transaction prices ranged from $0.33 to $0.343. The reporting person hereby agrees to provide, upon request by the SEC staff, by the Issuer, or by any security holder of the Issuer, full information regarding the number of shares sold by Vicis Capital Master Fund at each separate price.
(17)	This amount represents the weighted average transaction price for the transactions reported on this line. The actual transaction prices ranged from $0.331 to $0.348. The reporting person hereby agrees to provide, upon request by the SEC staff, by the Issuer, or by any security holder of the Issuer, full information regarding the number of shares sold by Vicis Capital Master Fund at each separate price.
(18)	This amount represents the weighted average transaction price for the transactions reported on this line. The actual transaction prices ranged from $0.335 to $0.3483. The reporting person hereby agrees to provide, upon request by the SEC staff, by the Issuer, or by any security holder of the Issuer, full information regarding the number of shares sold by Vicis Capital Master Fund at each separate price.
(19)	This amount represents the weighted average transaction price for the transactions reported on this line. The actual transaction prices ranged from $0.34 to $0.349. The reporting person hereby agrees to provide, upon request by the SEC staff, by the Issuer, or by any security holder of the Issuer, full information regarding the number of shares sold by Vicis Capital Master Fund at each separate price.
(20)	This amount represents the weighted average transaction price for the transactions reported on this line. The actual transaction prices ranged from $0.34 to $0.3498. The reporting person hereby agrees to provide, upon request by the SEC staff, by the Issuer, or by any security holder of the Issuer, full information regarding the number of shares sold by Vicis Capital Master Fund at each separate price.
(21)	This amount represents the weighted average transaction price for the transactions reported on this line. The actual transaction prices ranged from $0.33 to $0.3425. The reporting person hereby agrees to provide, upon request by the SEC staff, by the Issuer, or by any security holder of the Issuer, full information regarding the number of shares sold by Vicis Capital Master Fund at each separate price.
Remarks: The sole purpose of this amendment is to correct the language in footnotes (2) through (21) of the Form 4 filed on January 20, 2011, to reflect that the transactions described in such footnotes were sales rather than purchases. All other information reported on such Form 4 was correct.

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