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<DIV style="width:576px"><P style="line-height:12pt; margin-top:0px; margin-bottom:4.6px" align=center><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B></P>
<P style="line-height:15.5pt; margin-top:8.467px; margin-bottom:8.467px; font-size:13.5pt" align=center><B>FORM S-8</B></P>
<P style="line-height:15.5pt; margin-top:8.467px; margin-bottom:8.467px; font-size:12pt" align=center><B>REGISTRATION STATEMENT &nbsp;</B></P>
<P style="line-height:14pt; margin-top:6.667px; margin-bottom:6.667px; font-size:12pt" align=center><B>UNDER </B></P>
<P style="line-height:14pt; margin-top:6.667px; margin-bottom:6.667px; font-size:12pt" align=center><B>THE SECURITIES ACT OF 1933</B></P>
<P style="line-height:14pt; margin:0px; font-size:14pt" align=center><B>BLUGRASS ENERGY INC</B><FONT style="font-size:12pt"><B>.</B></FONT></P>
<P style="line-height:12pt; margin:0px"><BR></P>
</DIV><TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=185.4 /><TD width=11.4 /><TD width=185.133 /><TD width=11.4 /><TD width=184.667 /></TR>
<TR><TD style="margin-top:0px" width=185.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=11.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=185.133><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=11.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=184.667><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=185.4><P style="line-height:12.3pt; margin:0px; font-size:11pt" align=center><B>Nevada</B></P>
</TD><TD style="margin-top:0px" valign=top width=11.4><P style="margin:0px; font-size:11pt"><BR>
<B>&nbsp;</B></P>
</TD><TD style="margin-top:0px" valign=top width=185.133><P style="line-height:13pt; margin:0px; font-size:11pt" align=center><B>1311&nbsp;</B></P>
</TD><TD style="margin-top:0px" valign=top width=11.4><P style="margin:0px; font-size:11pt"><BR>
<B>&nbsp;</B></P>
</TD><TD style="margin-top:0px" valign=top width=184.667><P style="margin:0px; font-size:12pt" align=center><B>20-4952339</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=185.4><P style="line-height:13pt; margin:0px; font-size:11pt" align=center>(State or Other Jurisdiction of<BR>
Incorporation or Organization)</P>
</TD><TD style="margin-top:0px" valign=top width=11.4><P style="margin:0px; font-size:11pt" align=center>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=185.133><P style="line-height:13pt; margin:0px; font-size:11pt" align=center>(Primary Standard Industrial<BR>
Classification Code Number)</P>
</TD><TD style="margin-top:0px" valign=top width=11.4><P style="margin:0px; font-size:11pt" align=center>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=184.667><P style="line-height:13pt; margin:0px; font-size:11pt" align=center>(I.R.S. Employer Identification No.)</P>
</TD></TR>
</TABLE>
<DIV style="width:576px"><P style="line-height:12pt; margin:0px">&nbsp;</P>
<P style="line-height:12pt; margin:0px">&nbsp;</P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 width=100%><TR height=0 style="font-size:0"><TD /><TD width=288 /></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px; font-size:12pt" align=center><B>730-1015-4<SUP>th</SUP> Street SW Calgary, AB </B></P>
</TD><TD style="margin-top:0px" width=288><P style="margin:0px; font-size:12pt" align=center><B>T2R 1J4</B></P>
</TD></TR>
<TR><TD style="margin-top:0px"><P style="margin:0px" align=center>(Address of principal executive offices)</P>
</TD><TD style="margin-top:0px" width=288><P style="margin:0px" align=center>(Zip Code)</P>
</TD></TR>
<TR><TD style="margin-top:0px" colspan=2><P style="margin:5.533px" align=center><BR></P>
<P style="margin:0px" align=center>Small business issuer&#146;s telephone number, including area code:</P>
<P style="margin:0px" align=center>(403) 830-7566</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center><B>2010 Stock Option Plan of Blugrass Energy, Inc.</B></P>
<P style="line-height:12pt; margin-top:4.6px; margin-bottom:4.6px" align=center>&nbsp;(Full title of the plan)</P>
<P style="line-height:12pt; margin-top:4.6px; margin-bottom:4.6px" align=center>Copies of all communications, including all communications sent to the agent for service, should be sent to:</P>
<P style="line-height:12pt; margin-top:4.6px; margin-bottom:4.6px" align=center><B>CALCULATION OF REGISTRATION FEE</B></P>
</DIV><TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=131.467 /><TD width=110 /><TD width=115.067 /><TD width=120.067 /><TD width=101.4 /></TR>
<TR><TD style="margin-top:0px" width=131.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=110><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=115.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=120.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=101.4><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; border:3px double #DFDFDF" valign=bottom width=131.467><P style="margin-top:5.533px; margin-bottom:5.533px" align=center><B>Title of Securities to<BR>
be Registered</B></P>
</TD><TD style="margin-top:0px; border-top:3px double #DFDFDF; border-right:3px double #DFDFDF; border-bottom:3px double #DFDFDF" valign=bottom width=110><P style="margin-top:5.533px; margin-bottom:5.533px" align=center><B>Amount to be<BR>
Registered</B></P>
</TD><TD style="margin-top:0px; border-top:3px double #DFDFDF; border-right:3px double #DFDFDF; border-bottom:3px double #DFDFDF" valign=bottom width=115.067><P style="margin-top:5.533px; margin-bottom:5.533px" align=center><B>Proposed<BR>
Maximum<BR>
Offering<BR>
Price Per Share</B></P>
</TD><TD style="margin-top:0px; border-top:3px double #DFDFDF; border-right:3px double #DFDFDF; border-bottom:3px double #DFDFDF" valign=bottom width=120.067><P style="margin-top:5.533px; margin-bottom:5.533px" align=center><B>Proposed<BR>
Maximum<BR>
Aggregate<BR>
Offering Price</B></P>
</TD><TD style="margin-top:0px; border-top:3px double #DFDFDF; border-right:3px double #DFDFDF; border-bottom:3px double #DFDFDF" valign=bottom width=101.4><P style="margin-top:5.533px; margin-bottom:5.533px" align=center><B>Amount of <BR>
Registration<BR>
Fee</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; border-left:3px double #DFDFDF; border-right:3px double #DFDFDF; border-bottom:3px double #DFDFDF" valign=top width=131.467><P style="margin-top:5.533px; margin-bottom:5.533px">Common Stock</P>
</TD><TD style="margin-top:0px; border-right:3px double #DFDFDF; border-bottom:3px double #DFDFDF" valign=top width=110><P style="margin-top:5.533px; margin-bottom:5.533px" align=center>9,000,000<SUP>(1)</SUP></P>
</TD><TD style="margin-top:0px; border-right:3px double #DFDFDF; border-bottom:3px double #DFDFDF" valign=top width=115.067><P style="margin-top:5.533px; margin-bottom:5.533px" align=center>$0.23</P>
</TD><TD style="margin-top:0px; border-right:3px double #DFDFDF; border-bottom:3px double #DFDFDF" valign=top width=120.067><P style="margin-top:5.533px; margin-bottom:5.533px" align=center>$2,070,000</P>
</TD><TD style="margin-top:0px; border-right:3px double #DFDFDF; border-bottom:3px double #DFDFDF" valign=top width=101.4><P style="margin-top:5.533px; margin-bottom:5.533px" align=center>$147.59</P>
</TD></TR>
</TABLE>
<DIV style="width:576px"><P style="line-height:12pt; margin-top:4.6px; margin-bottom:4.6px"><SUP>(1)</SUP> Represents shares reserved for issuance upon exercise of options granted under the small business issuer's 2010 Stock Option Plan of Blugrass Energy Inc. &nbsp;This registration statement registers a total of 9,000,000 shares. &nbsp;Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the &quot;Securities Act&quot;), this Registration Statement will also cover any additional shares of Common Stock attributable to these registered shares which become issuable under the &quot;2010 Stock Option Plan of Blugrass Energy Inc.&quot; by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without the small business issuer's receipt of consideration which results in an increase in the number of the outstanding shares of the small business issuer's common stock.</P>
<P style="line-height:12pt; margin:4.6px"><BR></P>
<P style="line-height:12pt; margin-top:4.6px; margin-bottom:4.6px"><SUP>(2)</SUP> The price is estimated in accordance with Rule 457(h)(1) under the Securities Act of 1933, as amended, solely for the purpose of calculating the registration fee, based on the average of the bid ($0.23) and asked price ($0.25) of the common stock of Blugrass Energy Inc. as reported on the National Association of Securities Dealers Inc.'s OTC Bulletin Board on May 10, 2010.</P>
<P style="line-height:12pt; margin-top:0px; margin-bottom:4.6px" align=center><B>Part I</B></P>
<P style="line-height:12pt; margin-top:4.6px; margin-bottom:4.6px" align=center><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B></P>
<P style="line-height:14pt; margin:0px" align=justify>Information specified in Part I of Form S-8 (Items 1 and 2) will be sent or given to the 2010 Stock Option Plan participants as specified by Rule 428(b)(1) under the Securities Act of 1933.</P>
<P style="line-height:12pt; margin:0px"><BR></P>
<P style="line-height:12pt; margin-top:4.6px; margin-bottom:4.6px" align=center><B>Part II</B></P>
<P style="line-height:12pt; margin:0px"><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></P>
<P style="line-height:12pt; margin:0px" align=center><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt"><B>ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE</B>.</P>
<P style="line-height:14pt; margin-top:5.533px; margin-bottom:0px" align=justify>1. Our Annual Report on Form 10-K filed on October 13, 2009; </P>
<P style="line-height:14pt; margin-top:5.533px; margin-bottom:5.533px" align=justify>2. Our Quarterly Reports on Form 10-Q and 10-Q/A filed on May 25, 2010, February 22, 2010 and November 16, 2009; &nbsp;</P>
<P style="line-height:14pt; margin:0px" align=justify>3. The description of our Company's common stock contained in Amendment No.4 to the Company&#146;s Registration Statement on Form SB-2/A, as filed with the Commission on September 5, 2006; </P>
<P style="line-height:14pt; margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin:0px" align=justify>All documents subsequently filed by the small business issuer pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be a part hereof from the date of the filing of such documents.</P>
<P style="line-height:12pt; margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin:0px" align=justify>Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes hereof to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part hereof.</P>
<P style="line-height:12pt; margin:0px"><BR></P>
<P style="line-height:12pt; margin:0px"><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt"><B>ITEM 4. DESCRIPTION OF SECURITIES.</B></P>
<P style="line-height:12pt; margin:0px"><BR></P>
<P style="line-height:14pt; margin:0px">Not applicable; see Item 3 above. </P>
<P style="line-height:14pt; margin:0px"><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt"><B>ITEM&nbsp;5. INTERESTS OF NAMED EXPERTS AND COUNSEL.</B></P>
<P style="line-height:12pt; margin:0px"><BR></P>
<P style="line-height:14pt; margin:0px" align=justify>The legality of the shares of common stock registered under this Registration Statement on Form S-8 are being passed on for the small business issuer by William McDonald, Esq., the small business issuer's legal counsel.</P>
<P style="line-height:14pt; margin:6.667px"><BR></P>
<P style="line-height:14pt; margin:6.667px"><BR></P>
<P style="line-height:14pt; margin:6.667px"><BR></P>
<P style="line-height:14pt; margin:6.667px"><BR></P>
<P style="line-height:14pt; margin-top:6.667px; margin-bottom:6.667px; font-size:12pt"><B>ITEM&nbsp;6. INDEMNIFICATION OF DIRECTORS AND OFFICERS.</B></P>
<P style="line-height:12pt; margin-top:4.6px; margin-bottom:4.6px">Nevada corporation law provides that:</P>
<P style="line-height:12pt; margin-top:4.6px; margin-bottom:4.6px" align=justify>- a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, except an action by or in the right of the corporation, by reason of the fact that he is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses, including attorneys' fees, judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with the action, suit or proceeding if he acted in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful;</P>
<P style="line-height:12pt; margin-top:4.6px; margin-bottom:4.6px" align=justify>- a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that he is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against expenses, including amounts paid in settlement and attorneys' fees actually and reasonably incurred by him in connection with the defense or settlement of the action or suit if he acted in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the corporation. Indemnification may not be made for any claim, issue or matter as to which such a person has been adjudged by a court of competent jurisdiction, after exhaustion of all appeals therefrom, to be liable to the corporation or for amounts paid in settlement to the corporation, unless and only to the extent that the court in which the action or suit was brought or other court of competent jurisdiction determines upon application that in view of all the circumstances of the case, the person is fairly and reasonably entitled to indemnity for such expenses as the court deems proper; and</P>
<P style="line-height:12pt; margin-top:4.6px; margin-bottom:4.6px" align=justify>- to the extent that a director, officer, employee or agent of a corporation has been successful on the merits or otherwise in defense of any action, suit or proceeding, or in defense of any claim, issue or matter therein, the corporation shall indemnify him against expenses, including attorneys' fees, actually and reasonably incurred by him in connection with the defense.</P>
<P style="line-height:12pt; margin-top:4.6px; margin-bottom:4.6px" align=justify>Our bylaws provide that we will advance all expenses incurred to any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suite or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that he is or was our director or officer, or is or was serving at our request as a director or executive officer of another company, partnership, joint venture, trust or other enterprise, prior to the final disposition of the proceeding, promptly following request. This advanced of expenses is to be made upon receipt of an undertaking by or on behalf of such person to repay said amounts should it be ultimately determined that the person was not entitled to be indemnified under our bylaws or otherwise.</P>
<P style="line-height:12pt; margin-top:4.6px; margin-bottom:4.6px" align=justify>Our bylaws also provide that no advance shall be made by us to any officer in any action, suit or proceeding, whether civil, criminal, administrative or investigative, if a determination is reasonably and promptly made: (a) by the board of directors by a majority vote of a quorum consisting of directors who were not parties to the proceeding; or (b) if such quorum is not obtainable, or, even if obtainable, a quorum of disinterested directors so directs, by independent legal counsel in a written opinion, that the facts known to the decision-making party at the time such determination is made demonstrate clearly and convincingly that such person acted in bad faith or in a manner that such person did not believe to be in or not opposed to our best interests.</P>
<P style="line-height:12pt; margin-top:5.533px; margin-bottom:5.533px" align=justify>Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of our company under Nevada law or otherwise, we have been advised the opinion of the Securities and Exchange Commission is that such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event a claim for indemnification against such liabilities (other than payment by us for expenses incurred or paid by a director, officer or controlling person of our company in successful defense of any action, suit, or proceeding) is asserted by a director, officer or controlling person in connection with the securities being registered, we will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction, the question of whether such indemnification by it is against public policy in said Act and will be governed by the final adjudication of such issue.</P>
<P style="line-height:14pt; margin-top:6.667px; margin-bottom:6.667px; font-size:12pt"><B>ITEM&nbsp;7. EXEMPTION FROM REGISTRATION CLAIMED</B>.</P>
<P style="line-height:14pt; margin-top:5.533px; margin-bottom:5.533px">Not Applicable.</P>
<P style="line-height:14pt; margin-top:6.667px; margin-bottom:6.667px; font-size:12pt"><B>ITEM&nbsp;8. EXHIBITS.</B></P>
<P style="line-height:14pt; margin-top:5.533px; margin-bottom:5.533px">4.1 &nbsp;2010 Stock Option Plan of Blugrass Energy Inc.</P>
<P style="line-height:14pt; margin-top:5.533px; margin-bottom:5.533px">5.1 &nbsp;Opinion of William McDonald, Esq. </P>
<P style="line-height:14pt; margin-top:5.533px; margin-bottom:5.533px">23.1 Consent of William McDonald, Esq. (included in Exhibit 5.1)</P>
<P style="line-height:14pt; margin-top:5.533px; margin-bottom:5.533px">23.2 Consent of Larry O&#146;Donnell, Certified Public Accountant. &nbsp;</P>
<P style="line-height:14pt; margin-top:6.667px; margin-bottom:6.667px; font-size:12pt"><B>ITEM&nbsp;9. UNDERTAKINGS.</B><FONT style="font-size:7.5pt">&nbsp;</FONT></P>
<P style="line-height:12pt; margin-top:0px; margin-bottom:-2px; width:48px; float:left">(a)</P>
<P style="line-height:12pt; margin:0px; text-indent:-2px">The undersigned small business issuer hereby undertakes:<B> </B>insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the small business issuer pursuant to the provisions described above, or otherwise, the small business issuer has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the small business issuer of expenses incurred or paid by a director, officer or controlling person of the small business issuer in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the small business issuer will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue. </P>
<P style="line-height:12pt; margin:0px; font-size:7.5pt; clear:left" align=justify>&nbsp;</P>
<P style="line-height:12pt; margin-top:0px; margin-bottom:-2px; width:48px; float:left">(b)</P>
<P style="line-height:12pt; margin:0px; text-indent:-2px" align=justify>The undersigned small business issuer hereby undertakes: </P>
<P style="line-height:12pt; margin:0px; font-size:7.5pt; clear:left" align=justify>&nbsp;</P>
<P style="line-height:12pt; margin:0px; padding-left:48px" align=justify>(1) to file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement; </P>
<P style="line-height:12pt; margin:0px; padding-left:48px; font-size:7.5pt" align=justify>&nbsp;</P>
<P style="line-height:12pt; margin:0px; padding-left:48px" align=justify>(2) to include any prospectus required by section 10(a)(3) of the Securities Act of 1933; </P>
<P style="line-height:12pt; margin:0px; padding-left:48px; font-size:7.5pt" align=justify>&nbsp;</P>
<P style="line-height:12pt; margin:0px; padding-left:48px" align=justify>(3) to reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually, or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement; notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the &#147;Calculation of Registration Fee&#148; table in the effective Registration Statement; and </P>
<P style="line-height:12pt; margin:0px; font-size:7.5pt" align=justify>&nbsp;</P>
<P style="line-height:12pt; margin:0px; padding-left:48px" align=justify>(4) to include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement </P>
<P style="line-height:12pt; margin:0px" align=justify><BR></P>
<P style="line-height:12pt; margin:0px; padding-left:48px; text-indent:32.667px">(i) that, for the purpose of determining any liability under the Securities Act of 1933, each post-effective amendment shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof; and </P>
<P style="line-height:12pt; margin:0px; font-size:7.5pt">&nbsp;</P>
<P style="line-height:12pt; margin:0px; padding-left:48px; text-indent:32.667px">(ii) to remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the Offering. </P>
<P style="line-height:12pt; margin:0px"><BR></P>
<P style="line-height:12pt; margin:0px; font-size:7.5pt">&nbsp;</P>
<P style="line-height:12pt; margin-top:0px; margin-bottom:-2px; width:48px; float:left">(c)</P>
<P style="line-height:12pt; margin:0px; text-indent:-2px" align=justify>The undersigned small business issuer hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the small business issuer&#146;s annual report pursuant to Section&nbsp;13(a) or Section&nbsp;15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan&#146;s annual report pursuant to Section&nbsp;15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the Registration Statement shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. </P>
<P style="line-height:12pt; margin-top:4.6px; margin-bottom:4.6px; clear:left" align=center><B>SIGNATURES</B></P>
<P style="margin-top:6.133px; margin-bottom:6.133px; font-size:12pt">Pursuant to the requirements of the Securities Act of 1933, the small business issuer certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, on June 3, 2010<B> &nbsp;&nbsp;&nbsp;</B></P>
<P style="margin:0px; padding-left:240px; font-size:11pt"><B>BLUGRASS ENERGY INC.</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:192px; font-size:11pt; float:left">Dated: June 4, 2010</P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; font-size:11pt; float:left">&nbsp;</P>
<P style="margin:0px; text-indent:-2px; font-size:11pt" align=justify>By: <U>/s/ John Kenney Berscht</U></P>
<P style="margin:0px; font-size:11pt; clear:left" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;John Kenney Berscht</U></P>
<P style="margin:0px; font-size:11pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal Executive Officer and Director</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:192px; font-size:11pt; float:left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;June 4, 2010</P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; font-size:11pt; float:left">&nbsp;</P>
<P style="margin:0px; text-indent:-2px; font-size:11pt" align=justify>By: <U>/s/ Jeff Dunphy</U></P>
<P style="margin:0px; font-size:11pt; clear:left" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Jeff Dunphy___</U></P>
<P style="margin:0px; font-size:11pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Financial Officer and Director</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:11pt" align=justify>Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons in the capacities and on the dates indicated.</P>
<P style="line-height:12pt; margin:0px"><BR></P>
<P style="line-height:14pt; margin:0px; font-size:11pt" align=center>POWER OF ATTORNEY</P>
<P style="line-height:12pt; margin:0px"><BR></P>
<P style="line-height:14pt; margin:0px; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints J. A. Kirk McKinnon and Richard Schler his true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, and any other regulatory authority, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or their substitutes, may lawfully do or cause to be done by virtue hereof.</P>
<P style="margin:0px"><BR></P>
<P style="line-height:12.3pt; margin:0px; font-size:11pt">Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons in the capacities and on the dates indicated.</P>
<P style="line-height:12pt; margin:0px"><BR></P>
</DIV><TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=207.333 /><TD width=16.267 /><TD width=203.667 /><TD width=16.267 /><TD width=134.467 /></TR>
<TR><TD style="margin-top:0px" valign=top width=207.333><P style="line-height:13pt; margin:0px; font-size:11pt" align=center>Signatures</P>
</TD><TD style="margin-top:0px" valign=top width=16.267><P style="margin:0px; font-size:11pt">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=203.667><P style="line-height:13pt; margin:0px; font-size:11pt" align=center>Title</P>
</TD><TD style="margin-top:0px" valign=top width=16.267><P style="margin:0px; font-size:11pt">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=134.467><P style="line-height:13pt; margin:0px; font-size:11pt" align=center>Date</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=207.333><P style="line-height:13pt; margin:0px; font-size:11pt"><U>/s/ John Kenney Berscht</U>__________</P>
<P style="margin:0px; font-size:11pt"><U>John Kenney Berscht</U></P>
</TD><TD style="margin-top:0px" valign=top width=16.267><P style="margin:0px; font-size:11pt">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=203.667><P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt">Director</P>
</TD><TD style="margin-top:0px" valign=top width=16.267><P style="margin:0px; font-size:11pt">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=134.467><P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt">June 4, 2010</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=207.333><P style="line-height:13pt; margin:0px; font-size:11pt"><U>/s/ Jeff Dunphy</U></P>
<P style="line-height:13pt; margin:0px; font-size:11pt"><U>Jeff Dunphy</U></P>
<P style="line-height:13pt; margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt"><U>/s/ Edward Karasek &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
<P style="margin:0px; font-size:11pt"><U>Edward Karasek &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
</TD><TD style="margin-top:0px" valign=top width=16.267><P style="margin:0px; font-size:11pt">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=203.667><P style="margin:0px; font-size:11pt">Director</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt">Director</P>
</TD><TD style="margin-top:0px" valign=top width=16.267><P style="margin:0px; font-size:11pt">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=134.467><P style="margin:0px; font-size:11pt">June 4, 2010</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt">June 4, 2010</P>
</TD></TR>
</TABLE>
<DIV style="width:576px"><P style="line-height:12pt; margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
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{"company-data": {"conformed-name": "Blugrass Energy, Inc.", "cik": "0001365748", "assigned-sic": "7812", "irs-number": "204952339", "state-of-incorporation": "NV", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-167312", "film-number": "10878170"}, "business-address": {"street1": "3751 APPAIN WAY", "street2": "SUITE #75", "city": "LEXINGTON", "state": "KY", "zip": "40517-5929", "phone": "859-552-6036"}, "mail-address": {"street1": "3751 APPAIN WAY", "street2": "SUITE #75", "city": "LEXINGTON", "state": "KY", "zip": "40517-5929"}, "former-company": {"former-conformed-name": "COASTAL MEDIA INC.", "date-changed": "20060612"}}
UNITED STATES
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
BLUGRASS ENERGY INC
.
Nevada
1311
20-4952339
(State or Other Jurisdiction of
Incorporation or Organization)
(Primary Standard Industrial
Classification Code Number)
(I.R.S. Employer Identification No.)
730-1015-4
th
Street SW Calgary, AB
T2R 1J4
(Address of principal executive offices)
(Zip Code)
Small business issuer's telephone number, including area code:
(403) 830-7566
2010 Stock Option Plan of Blugrass Energy, Inc.
(Full title of the plan)
Copies of all communications, including all communications sent to the agent for service, should be sent to:
CALCULATION OF REGISTRATION FEE
Title of Securities to
be Registered
Amount to be
Registered
Proposed
Maximum
Offering
Price Per Share
Proposed
Maximum
Aggregate
Offering Price
Amount of
Registration
Fee
Common Stock
9,000,000
(1)
$0.23
$2,070,000
$147.59
(1)
Represents shares reserved for issuance upon exercise of options granted under the small business issuer's 2010 Stock Option Plan of Blugrass Energy Inc.  This registration statement registers a total of 9,000,000 shares.  Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement will also cover any additional shares of Common Stock attributable to these registered shares which become issuable under the "2010 Stock Option Plan of Blugrass Energy Inc." by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without the small business issuer's receipt of consideration which results in an increase in the number of the outstanding shares of the small business issuer's common stock.
(2)
The price is estimated in accordance with Rule 457(h)(1) under the Securities Act of 1933, as amended, solely for the purpose of calculating the registration fee, based on the average of the bid ($0.23) and asked price ($0.25) of the common stock of Blugrass Energy Inc. as reported on the National Association of Securities Dealers Inc.'s OTC Bulletin Board on May 10, 2010.
Part I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Information specified in Part I of Form S-8 (Items 1 and 2) will be sent or given to the 2010 Stock Option Plan participants as specified by Rule 428(b)(1) under the Securities Act of 1933.
Part II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE
.
1. Our Annual Report on Form 10-K filed on October 13, 2009;
2. Our Quarterly Reports on Form 10-Q and 10-Q/A filed on May 25, 2010, February 22, 2010 and November 16, 2009;
3. The description of our Company's common stock contained in Amendment No.4 to the Company's Registration Statement on Form SB-2/A, as filed with the Commission on September 5, 2006;
All documents subsequently filed by the small business issuer pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be a part hereof from the date of the filing of such documents.
Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes hereof to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part hereof.
ITEM 4. DESCRIPTION OF SECURITIES.
Not applicable; see Item 3 above.
ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL.
The legality of the shares of common stock registered under this Registration Statement on Form S-8 are being passed on for the small business issuer by William McDonald, Esq., the small business issuer's legal counsel.
ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS.
Nevada corporation law provides that:
- a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, except an action by or in the right of the corporation, by reason of the fact that he is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses, including attorneys' fees, judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with the action, suit or proceeding if he acted in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful;
- a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that he is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against expenses, including amounts paid in settlement and attorneys' fees actually and reasonably incurred by him in connection with the defense or settlement of the action or suit if he acted in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the corporation. Indemnification may not be made for any claim, issue or matter as to which such a person has been adjudged by a court of competent jurisdiction, after exhaustion of all appeals therefrom, to be liable to the corporation or for amounts paid in settlement to the corporation, unless and only to the extent that the court in which the action or suit was brought or other court of competent jurisdiction determines upon application that in view of all the circumstances of the case, the person is fairly and reasonably entitled to indemnity for such expenses as the court deems proper; and
- to the extent that a director, officer, employee or agent of a corporation has been successful on the merits or otherwise in defense of any action, suit or proceeding, or in defense of any claim, issue or matter therein, the corporation shall indemnify him against expenses, including attorneys' fees, actually and reasonably incurred by him in connection with the defense.
Our bylaws provide that we will advance all expenses incurred to any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suite or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that he is or was our director or officer, or is or was serving at our request as a director or executive officer of another company, partnership, joint venture, trust or other enterprise, prior to the final disposition of the proceeding, promptly following request. This advanced of expenses is to be made upon receipt of an undertaking by or on behalf of such person to repay said amounts should it be ultimately determined that the person was not entitled to be indemnified under our bylaws or otherwise.
Our bylaws also provide that no advance shall be made by us to any officer in any action, suit or proceeding, whether civil, criminal, administrative or investigative, if a determination is reasonably and promptly made: (a) by the board of directors by a majority vote of a quorum consisting of directors who were not parties to the proceeding; or (b) if such quorum is not obtainable, or, even if obtainable, a quorum of disinterested directors so directs, by independent legal counsel in a written opinion, that the facts known to the decision-making party at the time such determination is made demonstrate clearly and convincingly that such person acted in bad faith or in a manner that such person did not believe to be in or not opposed to our best interests.
Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of our company under Nevada law or otherwise, we have been advised the opinion of the Securities and Exchange Commission is that such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event a claim for indemnification against such liabilities (other than payment by us for expenses incurred or paid by a director, officer or controlling person of our company in successful defense of any action, suit, or proceeding) is asserted by a director, officer or controlling person in connection with the securities being registered, we will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction, the question of whether such indemnification by it is against public policy in said Act and will be governed by the final adjudication of such issue.
ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED
.
Not Applicable.
ITEM 8. EXHIBITS.
4.1  2010 Stock Option Plan of Blugrass Energy Inc.
5.1  Opinion of William McDonald, Esq.
23.1 Consent of William McDonald, Esq. (included in Exhibit 5.1)
23.2 Consent of Larry O'Donnell, Certified Public Accountant.
ITEM 9. UNDERTAKINGS.
(a)
The undersigned small business issuer hereby undertakes:
insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the small business issuer pursuant to the provisions described above, or otherwise, the small business issuer has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the small business issuer of expenses incurred or paid by a director, officer or controlling person of the small business issuer in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the small business issuer will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue.
(b)
The undersigned small business issuer hereby undertakes:
(1) to file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement;
(2) to include any prospectus required by section 10(a)(3) of the Securities Act of 1933;
(3) to reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually, or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement; notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective Registration Statement; and
(4) to include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement
(i) that, for the purpose of determining any liability under the Securities Act of 1933, each post-effective amendment shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof; and
(ii) to remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the Offering.
(c)
The undersigned small business issuer hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the small business issuer's annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the Registration Statement shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the small business issuer certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, on June 3, 2010
BLUGRASS ENERGY INC.
Dated: June 4, 2010
By:
/s/ John Kenney Berscht
John Kenney Berscht
Principal Executive Officer and Director
June 4, 2010
By:
/s/ Jeff Dunphy
Jeff Dunphy___
Chief Financial Officer and Director
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons in the capacities and on the dates indicated.
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints J. A. Kirk McKinnon and Richard Schler his true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, and any other regulatory authority, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or their substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons in the capacities and on the dates indicated.
Signatures
Title
Date
/s/ John Kenney Berscht
__________
John Kenney Berscht
Director
June 4, 2010
/s/ Jeff Dunphy
Jeff Dunphy
/s/ Edward Karasek
Edward Karasek
Director
Director
June 4, 2010
June 4, 2010