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
                                                                                  
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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(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

AUSTIN JOSIAH T 		2. Issuer Name and Ticker or Trading Symbol

Chelsea Therapeutics International, Ltd. [ CHTP ] 		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)

4673 CHRISTOPHER PLACE 		3. Date of Earliest Transaction (MM/DD/YYYY)

10/19/2009
(Street)

DALLAS, TX 75204
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

___ Form filed by One Reporting Person
_ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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   10/19/2009     P    17000   A $2.86   7512287   I   By Self as Trustee for the Josiah and Valer Austin Family Revocable Trust  
Common Stock   10/20/2009     P    46900   A $2.8833   7559187   I   As Managing Member of El Coronado Holdings, LLC  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 7. Title and Amount of Securities Underlying Derivative Security
(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
Common Stock Warrants (right to buy)   $4.20                      (1) 2/13/2011   Common Stock   113442     113442   I   As Managing Member of El Coronado Holdings, LLC  
Common Stock Warrants (right to buy)   $4.20                      (1) 2/13/2011   Common Stock   6558     6558   I   As Managing Member of El Coronado Holdings, LLC  
Common Stock Warrants (right to buy)   $5.66                      (1) 3/22/2012   Common Stock   430614     430614   I   As Managing Member of El Coronado Holdings, LLC  

Explanation of Responses:
( 1)  Immediately.

Remarks:
This report is filed jointly on behalf of Mr. Austin and El Coronado Holdings, LLC ("ECH"), an Arizona limited liability company of which Mr. Austin is the sole managing member. The address of ECH is 4673 Christopher Place, Dallas TX 75204. ECH owns directly 7,418,140 shares of common stock identified in Table I.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
AUSTIN JOSIAH T
4673 CHRISTOPHER PLACE
DALLAS, TX 75204
X

El Coronado Holdings, LLC
4673 CHRISTOPHER PLACE
DALLAS, TX 75204
X


Signatures
/s/Josiah T. Austin, Individually, and as Managing Member of El Coronado Holdings, LLC 10/21/2009
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
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