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                                                             OMB APPROVAL
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                                                         OMB Number: 3235-0145


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


                                 SCHEDULE 13D /A

                    UNDER THE SECURITIES EXCHANGE ACT OF 1934
                                (AMENDMENT NO. )*


                        ACE MARKETING & PROMOTIONS, INC.
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                                (Name of Issuer)

                                  Common Stock
                         (Title of Class of Securities)

                                   004409 10 8
                                 (CUSIP Number)

        Steven Morse, Esq., Morse & Morse, PLLC., 1400 Old Country Road,
                       Westbury, NY 11590 (516-487-1446)
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            (Name, Address and Telephone Number of Person Authorized
                     to Receive Notices and Communications)

                                   May 5, 2008
              -----------------------------------------------------
             (Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box |_|.

Check the following box if a fee is being paid with the statement |_|. (A fee
is not required only if the reporting person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)

NOTE: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are sent.

*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
disclosures provided in a prior cover page.

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





                                  SCHEDULE 13D
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      CUSIP No. 004409 10 8                                   Page 2 of 4 Pages
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  1      NAME OF REPORTING PERSON
         S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

         Michael D. Trepeta
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                             (a)
                                                                             (b)

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  3      SEC USE ONLY

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  4      SOURCE OF FUNDS*

         NOT APPLICABLE
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  5      CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
         PURSUANT TO ITEMS 2(d) OR 2(e)


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  6      CITIZENSHIP OR PLACE OF ORGANIZATION

         USA
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                      7        SOLE VOTING POWER
     NUMBER OF
      SHARES                   1,566,402
   BENEFICIALLY
     OWNED BY
       EACH
     REPORTING
      PERSON
       WITH
                     -----------------------------------------------------------

                      8        SHARED VOTING POWER


                     -----------------------------------------------------------

                      9        SOLE DISPOSITIVE POWER

                               1,566,402
                     -----------------------------------------------------------

                     10        SHARED DISPOSITIVE POWER


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  11        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

            1,566,402

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  12        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
            CERTAIN SHARES*

                                                                             |x|

            Excludes options to purchase 100,000 shares exercisable on
            December 28, 2008

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  13        PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

            18.1%
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  14        TYPE OF REPORTING PERSON*

            IN
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                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
          INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
      (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.




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      CUSIP No. 004409 10 8                                   Page 3 of 4 Pages
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         On April 11, 2005, the Issuer became a reporting company under Section
12(g) of the Securities and Exchange Act of 1934, as amended, when its Form
10-SB became effective (File No. 000-51160). This Schedule 13D is being filed
for the reporting person who was a 5% or greater stockholder at the time that
the Form 10-SB became effective. For this reason, all references to source of
funds have been answered not applicable.

Item 1.  Security and Issuer

         This statement relates to the Common Stock of Ace Marketing &
Promotions, Inc. (the "Issuer"). The Issuer's executive office is located at 457
Rockaway Avenue, Valley Stream, NY 11581.


Item 2.  Identity and Background

         (a) Michael D. Trepeta

         (b) 457 Rockaway Avenue, Valley Stream, NY 11581

         (c) President of the Issuer.

         (d) Not applicable.

         (e) Not applicable.

         (f) USA

Item 3.  Source and Amount of Funds or Other Consideration

         Not applicable.

Item 4.  Purpose of Transactions

         (a) - (j) Not applicable.

Item 5.  Interest in Securities of the Issuer

         (a) - (b) As of May 5, 2008, the Issuer has outstanding 8,101,615
         shares of Common Stock. Of the foregoing shares of Common Stock, the
         reporting person beneficially owns and has the right to vote and to
         dispose of 1,566,402 shares of Common Stock (inclusive of outstanding
         options to purchase 550,000 shares), representing 18.1% of the
         outstanding Common Stock, which represents the only outstanding class
         of voting capital stock. The reporting person has the sole power to
         dispose and vote of all shares of Common Stock owned by him.

         (c) On March 1, 2008, the Reporting Person had granted to him options
         to purchase 50,000 shares exercisable at $.80 per share through March
         1, 2013. On August 22, 2008, the Reporting Person had granted to him
         options to purchase 150,000 shares exercisable at $1.20 per share
         through August 22, 2017.



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      CUSIP No. 004409 10 8                                   Page 3 of 4 Pages
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         (d) - (e) Not Applicable

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to
        the Securities of the Issuer.

        Section 2(b) of the employment contract dated as of March 1, 2005
        provides for the Reporting Person to be elected to the Board of
        directors and nominated for re-election during the term of the contract.

Item 7. Materials to be filed as Exhibits

        Employment contract entered into as of March 1, 2005.


Signature

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

Dated: May 5, 2008


Signature By: /s/ Michael D. Trepeta
              ----------------------
              Michael D. Trepeta