Gateway Inc (Other) (4/A)

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	OMB APPROVAL OMB Number: 3235-0287 Expires: January 31, 2008 Estimated average burden hours per response... 0.5
	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 * WAITT THEODORE W	2. Issuer Name and Ticker or Trading Symbol GATEWAY INC [ GTW ]	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) 5786 LA JOLLA BLVD.	3. Date of Earliest Transaction (MM/DD/YYYY) 5/31/2007
(Street) LA JOLLA, CA 92037 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY) 6/1/2007	6. Individual or Joint/Group Filing (Check Applicable Line) _ X _ Form filed by One Reporting Person ___ 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	5/31/2007		S		100000	D	$1.77	51574815   (3)	I	Avalon Capital Group, LLC   (1)
Common Stock	6/1/2007		S		75850   (4)	D	$1.77	51498965   (3) (4)	I	Avalon Capital Group, LLC   (1)
Common Stock								432710	I	Theodore Waitt 2003 GRAT II
Common Stock								356	I	Avalon Portfolio, LLC   (2)

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

Explanation of Responses:
( 1)	A single member limited liability company of which the reporting person owns 100%
( 2)	A single member limited liability company of which Avalon Capital Group, LLC owns 100% and thereby of which the reporting person owns 100%
( 3)	Balance reflects Form 4/A filed on 9/21/07 amending report filed on 5/9/07
( 4)	This form 4/A amends the report filed on 6/1/07 to reflect an increase of 30 shares sold on 6/1/07 for a total of 75,850 shares sold at the price of 1.77 per share.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
WAITT THEODORE W 5786 LA JOLLA BLVD. LA JOLLA, CA 92037		X

Signatures
Stanley C. Ray- Attorney-in-Fact for Theodore W. Waitt		9/21/2007
** 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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