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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G/A

                    Under the Securities Exchange Act of 1934
                                (Amendment No. )*


                          IR BIOSCIENCES HOLDINGS, INC.
                                (Name of Issuer)
--------------------------------------------------------------------------------

                    Common Stock, par value $0.001 per share
                    ----------------------------------------
                         (Title of Class of Securities)


                                    46264M20
                                    --------
                                 (CUSIP Number)

                                 January 8, 2008
--------------------------------------------------------------------------------
            (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)
[X] Rule 13d-1(c)
[ ] 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 the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purposes of Section 18 of the Securities and Exchange Act
of 1934 ("Act") or otherwise subject to the liabilities of that section of the
Act out shall be subject to all other provisions of the Act, (however, see the
Notes).



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Cusip No. 46264M20
--------------------------------------------------------------------------------
1    NAME OF REPORTING PERSON
     I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON (ENTITIES ONLY).

     YA Global Investments, L.P.
     (13-4150836)
--------------------------------------------------------------------------------
2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
     (a)  |_|
     (b)  |_|
--------------------------------------------------------------------------------
3    SEC USE ONLY


--------------------------------------------------------------------------------
4    CITIZENSHIP OR PLACE OF ORGANIZATION

     Cayman Islands
--------------------------------------------------------------------------------
               5    SOLE VOTING POWER

                    11,317,931
               -----------------------------------------------------------------
  NUMBER OF    6    SHARED VOTING POWER
   SHARES
BENEFICIALLY        0
  OWNED BY     -----------------------------------------------------------------
    EACH       7    SOLE DISPOSITIVE POWER
  REPORTING
   PERSON           11,317,931
    WITH:      -----------------------------------------------------------------
               8    SHARED DISPOSITIVE POWER

                    0
--------------------------------------------------------------------------------
9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     11,317,931
--------------------------------------------------------------------------------
10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
     (SEE INSTRUCTIONS)                                                      |_|

--------------------------------------------------------------------------------
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

     9.99%* (See footnote amending Schedule 13G filed with Commission on
            January 11, 2008)
--------------------------------------------------------------------------------
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

     PN
--------------------------------------------------------------------------------



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Item 1.
         (a) Name of Issuer: IR BIOSCIENCES HOLDINGS, INC.
         (b) Address of Issuer's Principal Executive Offices:

                             8767 E. Via de Ventura
                                    Suite 190
                            Scottsdale, Arizona 85258

Item 2.       Identity and Background.
         (a) Name of Person Filing: YA Global Investments, L.P.
         (b) Address of Principal Executive Office or, if none, Residence of
             Reporting Persons:

                          101 Hudson Street, Suite 3700
                             Jersey City, NJ 07302

         (c) Citizenship: Cayman Islands
         (d) Title of Class of Securities: Common Stock, par value $0.001 per
             share
         (e) Cusip Number: 46264M20

Item 3.       If the statement is filed pursuant to ss.ss. 240.13d-1(b) or
              240.13d-2(b) or (c), check whether the person filing is:

         (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 of the Act (15 U.S.C. 78o);
         (e) [ ] An investment adviser in accordance with
                 ss.240.13d-1(b)(1)(ii)(E);
         (f) [ ] An employee benefit plan or endowment fund in accordance with
                 ss.240.13d-1(b)(1)(ii)(F);
         (g) [ ] A parent holding company or control person in accordance with
                 ss.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); or
         (j) [ ] Group, in accordance with 240.13d(b)(1)(ii)(J).

Item 4.       Ownership

Provide the following information regarding the aggregate number and percentage
of the class of securities of the issuer identified in Item 1.

         (a) Amount beneficially owned: 11,317,931

         (b) Percentage of Class: 9.99%*

         (c) Number of shares as to which the person has:

            (i) Sole Power to vote or to direct the vote: 11,317,931

            (ii) Shared power to vote or to direct the vote: 0

            (iii) Sole power to dispose or to direct the disposition: 11,317,931

            (iv) Shared power to dispose or to direct the disposition: 0



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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 Member Group

                                 Not Applicable

Item 9.       Notice of Dissolution of Group

                                 Not Applicable

Item 10.      Certification

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

*     In addition to the number of shares memorialized above, YA Global
      Investments, L.P. ("YA Global") is the owner of the Warrants to purchase
      7,500,000 shares of common stock exercisable at $.25 per share which it
      obtained through Securities Purchase Agreements dated January 3, 2008. (In
      the Schedule 13G originally filed with the Commission on January 11, 2008,
      the exercise price of the Warrants was mistakenly listed as $.025 per
      share.) These shares are not included in the calculation of the amount of
      outstanding shares owned by YA Global because the Warrant Agreement
      prohibits YA Global from converting any of its Warrants if at the time YA
      Global is entitled to exercise any Warrant for a number of Warrant Shares
      in excess of that number of Warrant Shares which, upon giving effect to
      such exercise, would cause the aggregate number of shares of Common Stock
      beneficially owned by YA Global and its affiliates to exceed 9.99% of the
      outstanding shares of the Common Stock following such exercise.



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                                    SIGNATURE

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


Dated:  January 8, 2008                        REPORTING PERSON:

                                               YA GLOBAL INVESTMENTS, L.P.

                                               By:   Yorkville Advisors, LLC
                                               Its:  Investment Manager

                                               By:   /s/ Steven S. Goldstein
                                                     -------------------------
                                               Name: Steven S. Goldstein, Esq.
                                               Its:  Chief Compliance Officer