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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(Print or Type Responses)
1. Name and Address of Reporting Person *
LAZARUS INVESTMENT PARTNERS LLLP
   2. Issuer Name and Ticker or Trading Symbol
AeroGrow International, Inc. [AERO.OB] 		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)
3200 CHERRY CREEK SOUTH DRIVE, SUITE 670		 3. Date of Earliest Transaction (Month/Day/Year)
11/03/2010
(Street)

DENVER, CO 80209		 4. If Amendment, Date Original Filed(Month/Day/Year)
 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)
Code V Amount (A) or (D) Price
Common Stock 04/11/2012   J(1)   9,555,556 A (1) 9,555,556 D  
Common Stock 04/11/2012   J(1)   45,386,016 A (5) 54,941,572 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
Convertible Note $ 0.1 11/03/2010   J(3)   $ 32,959   11/03/2010 05/06/2013 Common Stock 329,592 $ 32,959 $ 32,959 D  
Convertible Note $ 0.1 02/01/2011   J(3)   $ 20,475.14   02/01/2011 05/06/2013 Common Stock 204,751 $ 20,475.14 $ 20,475.14 D  
Convertible Note $ 0.18 10/03/2011   J(4)     $ 200,000 11/05/2010 07/28/2011 Common Stock 1,111,112 $ 200,000 0 D  
Series A Preferred Stock $ 0.2 04/11/2012   J(1)     860 06/30/2009   (2) Common Stock 4,300,000 (1) 0 D  
Series A Preferred Warrants $ 1,250 04/11/2012   J(1)     430 06/30/2009 06/30/2014 Series A Preferred Stock 2,150,000 (1) 0 D  
Common Stock Warrants $ 0.07 04/11/2012   J(1)   7,166,667   04/11/2012 04/11/2017 Common Stock 7,166,667 (1) 7,166,667 D  
Convertible Note $ 0.1 04/11/2012   J(5)     $ 32,959 11/03/2010 05/06/2013 Common Stock 329,592 (5) 0 D  
Convertible Note $ 0.1 04/11/2012   J(5)     $ 20,475.14 02/01/2011 05/06/2013 Common Stock 204,751 (5) 0 D  
Convertible Note $ 0.1 04/11/2012   J(5)     $ 482,452.05 05/06/2010 05/06/2013 Common Stock 4,824,521 (5) 0 D  
Convertible Note $ 0.1 04/11/2012   J(5)     $ 500,000 06/24/2010 05/06/2013 Common Stock 5,000,000 (5) 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
LAZARUS INVESTMENT PARTNERS LLLP
3200 CHERRY CREEK SOUTH DRIVE
SUITE 670
DENVER, CO 80209		     X    
BORUS JUSTIN B
3200 CHERRY CREEK SOUTH DRIVE
SUITE 670
DENVER, CO 80209		     X    
Lazarus Management Co LLC
3200 CHERRY CREEK SOUTH DRIVE
SUITE 670
DENVER, CO 80209		     X    

Signatures

 /s/ Justin Borus, individually, and as managing member of Lazarus Management Company LLC for itself and as general partner of Lazarus Investment Partners LLLP   04/23/2012
**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) These transactions were part of a reclassification pursuant to which the issuer exchanged all of its outstanding shares of Series A Preferred Stock for Common Stock and its Series A Warrants became Warrants to purchase shares of Common Stock with the Series A Warrants held by reporting persons becoming exercisable for 4,777,778 shares of Common Stock. In addition, as part of the reclassification there was a 50% Common Warrant dividend that gave reporting persons a Common Warrant to purchase 2,388,889 shares of Common Stock.
(2) Series A can be converted at any time.
(3) Received as interest payment on other outstanding convertible notes.
(4) Payment in full for cash.
(5) All outstanding convertible notes were exchanged for Common Stock with reporting person receiving a total of 45,386,016 shares of Common Stock in exchange for cancellation of $1,035,886.42 in principal and $98,763.96 in accrued interest.
 
Remarks:
The reported securities are owned directly by Lazarus Investment Partners LLLP, and indirectly by Lazarus Management Company LLC, as investment adviser and general partner of Lazarus Investment Partners LLLP, and Justin B. Borus, as managing member of Lazarus Management Company LLC. Lazarus Management Company LLC and Justin B. Borus disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein.

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