<HTML>
<HEAD>
<TITLE>Filed by Bowne Pure Compliance</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">



<DIV style="font-size: 10pt">
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>


<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): October 24, 2008</B>

<P align="center">

<P align="center" style="font-size: 24pt"><B>CLEANTECH BIOFUELS, INC.<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
</FONT>

<TABLE border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="32%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD style="border-bottom: 1px solid #000000"><B>Delaware</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>333-145939</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>33-0754902</B></TD>
</TR>
<TR valign="top">
    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
</TR>
</TABLE>

<TABLE border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="49%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD style="border-bottom: 1px solid #000000"><B>7386 Pershing Ave, University City, Missouri<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>63130</B></TD>
</TR>
<TR valign="top">
    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(314) 862-8670</B>


<TABLE border="0" width="30%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="100%">&nbsp;</TD>
</TR>
<TR>
    <TD nowrap style="border-bottom: 1px solid #000000"><B>N/A<BR></B></TD>
</TR>
<TR>
    <TD nowrap>(Former name or former address if changed since last report.)</TD>
</TR>
</TABLE>

<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:

<P align="left" style="font-size: 10pt">
<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


<P>
<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>

</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">1
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<P align="justify" style="font-size: 10pt"><B>Section&nbsp;4 &#150; Matters Related to Accountants and Financial Statements</B>


<P align="justify" style="font-size: 10pt"><B>Item&nbsp;4.02. Non-reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review</B>


<P align="justify" style="font-size: 10pt">In connection with the preparation of the Form 10-Q for the three and nine months ended September&nbsp;30, 2008 of CleanTech
Biofuels, Inc., (the &#147;Company), management identified a possible calculation error resulting in an overstatement of the
Company&#146;s share-based compensation expense reported in prior periods. On October&nbsp;17, 2008, management notified the
Audit Committee of the Company&#146;s Board of Directors and on October&nbsp;24, 2008, the Audit Committee concluded that the
Company&#146;s previously released financial statements for the three months ended March&nbsp;31, 2008 and for the three and six
months ended June&nbsp;30, 2008 should no longer be relied on and should be corrected.


<P align="justify" style="font-size: 10pt">The Audit Committee has determined that the calculation error resulted in an overstatement of the Company&#146;s share-based
compensation expense pursuant to FAS123R for the three months ended March&nbsp;31, 2008 by approximately $500,000 and an
overstatement of the Company&#146;s share-based compensation expense pursuant to FAS123R for the three and six months ended
June&nbsp;30, 2008 by approximately $500,000 and $1,000,000, respectively. Management of the Company discussed all of these
matters with the Company&#146;s independent accountant.&nbsp;


<P align="justify" style="font-size: 10pt">The Company anticipates filing amendments to its Forms 10-Q for the affected quarterly periods to reflect the
corrections to its quarterly financial statements in the near future.

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">2
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="justify" style="font-size: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned thereunto duly authorized.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="42%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="3"><B>CLEANTECH BIOFUELS, INC.</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: October&nbsp;24, 2008
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Edward P. Hennessey&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD nowrap align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name: Edward P. Hennessey&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title: Chief Executive Officer and President&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">3




</DIV>
</BODY>
</HTML>
[{"type": "8-K", "sequence": "1", "filename": "c76333e8vk.htm", "description": "FORM 8-K", "secsgml_size_bytes": 8823}]
{"company-data": {"conformed-name": "CleanTech Biofuels, Inc.", "cik": "0001411036", "assigned-sic": "2860", "irs-number": "330754902"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-145939", "film-number": "081140001"}, "business-address": {"street1": "7386 PERSHING AVE.", "city": "ST. LOUIS", "state": "MO", "zip": "63130", "phone": "314-802-8670"}, "mail-address": {"street1": "7386 PERSHING AVE.", "city": "ST. LOUIS", "state": "MO", "zip": "63130"}}
Filed by Bowne Pure Compliance
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 24, 2008
CLEANTECH BIOFUELS, INC.
(Exact name of registrant as specified in its charter)
Delaware
333-145939
33-0754902
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
7386 Pershing Ave, University City, Missouri
63130
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
(314) 862-8670
N/A
(Former name or former address if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Section 4 – Matters Related to Accountants and Financial Statements
Item 4.02. Non-reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review
In connection with the preparation of the Form 10-Q for the three and nine months ended September 30, 2008 of CleanTech
Biofuels, Inc., (the "Company), management identified a possible calculation error resulting in an overstatement of the
Company's share-based compensation expense reported in prior periods. On October 17, 2008, management notified the
Audit Committee of the Company's Board of Directors and on October 24, 2008, the Audit Committee concluded that the
Company's previously released financial statements for the three months ended March 31, 2008 and for the three and six
months ended June 30, 2008 should no longer be relied on and should be corrected.
The Audit Committee has determined that the calculation error resulted in an overstatement of the Company's share-based
compensation expense pursuant to FAS123R for the three months ended March 31, 2008 by approximately $500,000 and an
overstatement of the Company's share-based compensation expense pursuant to FAS123R for the three and six months ended
June 30, 2008 by approximately $500,000 and $1,000,000, respectively. Management of the Company discussed all of these
matters with the Company's independent accountant.
The Company anticipates filing amendments to its Forms 10-Q for the affected quarterly periods to reflect the
corrections to its quarterly financial statements in the near future.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned thereunto duly authorized.
CLEANTECH BIOFUELS, INC.
Date: October 24, 2008
By:
/s/ Edward P. Hennessey
Name: Edward P. Hennessey
Title: Chief Executive Officer and President