SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF 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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1. Name and Address of Reporting Person* Magnetar Capital Partners LP (Last) (First) (Middle) 1603 ORRINGTON AVENUE, 13TH FLOOR (Street) EVANSTON IL 60201 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 08/13/2010	3. Issuer Name and Ticker or Trading Symbol WORKSTREAM INC [ WSTM ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of 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

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Shares	190,158,979(1)(3)(4)(5)	I	See Footnotes(1)(3)(4)(5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Warrant to Purchase Common Shares	08/29/2008	08/03/2012	Common Shares	2,500,000(2)	$0.1	I	See Footnotes(2)(3)(4)(5)

1. Name and Address of Reporting Person* Magnetar Capital Partners LP (Last) (First) (Middle) 1603 ORRINGTON AVENUE, 13TH FLOOR (Street) EVANSTON IL 60201 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Magnetar Financial LLC (Last) (First) (Middle) 1603 ORRINGTON AVENUE, 13TH FLOOR (Street) EVANSTON IL 60201 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Supernova Management LLC (Last) (First) (Middle) 1603 ORRINGTON AVENUE, 13TH FLOOR (Street) EVANSTON IL 60201 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Litowitz Alec N (Last) (First) (Middle) C/O MAGNETAR FINANCIAL LLC 1603 ORRINGTON AVENUE, 13TH FLOOR (Street) EVANSTON IL 60201 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. 190,158,979 Shares (as defined below) are held for the account of Magnetar Capital Master Fund, Ltd, a Cayman Islands exempted company ("Magnetar Capital Master Fund"). "Shares" are shares of the Issuer's common shares, no par value per share.

2. 2,500,000 Shares are issuable upon exercise of a warrant (the "Warrant") held for the account of Magnetar Capital Master Fund. However, the Warrant is not currently exercisable because the terms of the Warrant contain a so-called "blocker provision" under which the holder thereof does not have the right to exercise the Warrant to the extent (but only to the extent) that such exercise would result in beneficial ownership by the holder thereof or any of its affiliates of more than 9.99% of the Shares.

3. Magnetar Financial LLC, a Delaware limited liability company ("Magnetar Financial"), serves as investment adviser to Magnetar Capital Master Fund. In such capacity, Magnetar Financial exercises voting and investment power over the Shares held for the account of Magnetar Capital Master Fund. Magnetar Financial is a registered investment adviser under Section 203 of the Investment Advisers Act of 1940, as amended. Magnetar Capital Partners LP, a Delaware limited partnership ("Magnetar Capital Partners"), serves as the sole member and parent holding company of Magnetar Financial. Supernova Management LLC, a Delaware limited liability company ("Supernova Management"), is the general partner of Magnetar Capital Partners.

4. The manager of Supernova Management is Alec N. Litowitz ("Mr. Litowitz"), a citizen of the United States of America.

5. Each of Magnetar Financial, Magnetar Capital Partners, Supernova Management and Mr. Litowitz disclaim beneficial ownership of these Shares except to the extent of their pecuniary interest in these Shares.

	/s/ Alec N. Litowitz, as Manager of Supernova Management LLC, as General Partner of Magnetar Capital Partners LP	08/23/2010
	/s/ Alec N. Litowitz, as Manager of Supernova Management LLC, as General Partner of Magnetar Capital Partners LP, as Sole Member of Magnetar Financial LLC	08/23/2010
	/s/ Alec N. Litowitz, as Manager of Supernova Management LLC	08/23/2010
	/s/ Alec N. Litowitz	08/23/2010
	** Signature of Reporting Person	Date
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* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
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