<html>
<head>
    <title>nvdf8k_20091123.htm</title>
<!-- Licensed to: Navidec-->
<!-- Document Created using EDGARizer 5.1.4.0 -->
<!-- Copyright 1995 - 2009 Thomson Reuters. All rights reserved. -->
</head>
<body bgcolor="#ffffff" style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">
    <div>&#160;</div>
    <div>
      <hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="4">
      <hr style="MARGIN-TOP: -10px; COLOR: #000000" noshade size="1">
    </div>
    <div><br><br>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">UNITED
STATES</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SECURITIES
AND EXCHANGE COMMISSION</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Washington,
DC 20549</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">_________________</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">FORM
8K</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">_________________</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pursuant
to Section 12 or 15(d) of the Securities Exchange Act of 1934</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date of
Report (Date of earliest event reported):&#160;&#160;November 19,
2009</font></div>
      <div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block"><br><img src="tworiversco.jpg" alt="Two Rivers Water Company Logo">&#160;</div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TWO
RIVERS WATER COMPANY</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">_______________________________________________________</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(Exact
name of registrant as specified in its charter)</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>&#160;</div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font><br>&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
              <td valign="top" width="17%" style="BORDER-BOTTOM: black 2px solid">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Colorado</font></div>
              </td>
              <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              <td valign="top" width="19%" style="BORDER-BOTTOM: black 2px solid">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">000-51139</font></div>
              </td>
              <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              <td valign="top" width="21%" style="BORDER-BOTTOM: black 2px solid">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">13-4228144</font></div>
              </td>
            </tr><tr>
              <td valign="top" width="17%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(State
      of Incorporation)</font></div>
              </td>
              <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              <td valign="top" width="19%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(Commission
      File Number)</font></div>
              </td>
              <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              <td valign="top" width="21%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(IRS
      Employer Identification No.)</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">2000
South Colorado Blvd., Annex Suite 200, Denver, Colorado 80222</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">_______________________________________________</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(Address
of principal executive offices)</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">303-222-1000</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">__________________________</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(Registrant's
Telephone number)</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Formerly: Navidec Financial
Services, Inc.</font></font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Check&#160;&#160;the&#160;&#160;appropriate&#160;&#160;box&#160;&#160;below&#160;&#160;if
the&#160;&#160;Form&#160;&#160;8-K&#160;&#160;filing&#160;&#160;is&#160;&#160;intended&#160;&#160;to
simultaneously&#160;&#160;satisfy the filing obligation of the registrant under
any of the following provisions.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">[_]
Written communications pursuant to Rule 425 under the Securities
Act</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;(17
CFR240.14d-2(b))</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">[_]
Soliciting material pursuant to Rule 14a-12 under Exchange Act</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;(17
CFR240.14a-12)</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">[_]
Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;Act
(17 CFR240.14d-2(b))</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">[_]
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;Act
(17 CFR240.13e-4(c))</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div><br>
      <div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160;
</font></div>
          <div style="TEXT-ALIGN: center; WIDTH: 100%">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160;
</font></div>
        </div>
      </div><br>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SECTION
3 &#8211; SECURITIES AND TRADING MARKETS</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item
3.03 Material Modification to Rights of Security Holders.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On
November 19, 2009, Two Rivers Water Company (the Company) (formerly Navidec
Financial Services, Inc.), held its&#8217; Annual Shareholder Meeting, as discussed
below in Item 8.01.&#160;&#160;As a result of such meeting, the Articles of
Incorporation have been amended to include shareholder actions by written
consent.&#160;&#160;Such amendment was filed with the Secretary of State of
Colorado on November 19, 2009.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Shareholder
actions can be approved by&#160;&#160;written consent if there are if the
shareholders&#160;&#160;holding shares having not less than the minimum number
of votes that would be necessary to authorize or take such action at a meeting
at which all of the shares&#160;&#160;entitled to
vote&#160;&#160;thereon&#160;&#160;were present and voted, consent to such
action in writing.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SECTION
5 &#8211; CORPORATE GOVERNANCE AND MANAGEMENT</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Item 5.02</font>&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.</font></font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">At the
Shareholders&#8217; Meeting, the Company&#8217;s Board of Directors was elected. As a result
of the meeting the following changes were made to the Company&#8217;s Board of
Directors.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Discharge
of Director</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Mr.
Howard Farkas was not re-appointed to the Board of Directors.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Appointment
of Directors</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Mr. John
McKowen and Ms. Jolee Henry were re-elected to the Board of Directors of the
Company.&#160;&#160;Mr. McKowen also serves as the Chief Executive Officer of
the Company.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Messrs.
Wayne Harding III, John Stroh II and Fred Jones were elected to the Board of
Directors at the Shareholder Meeting.&#160;&#160;All directors were elected to
serve until the next annual shareholders&#8217; meeting. Their backgrounds are
discussed below.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">WAYNE E. HARDING,
III.&#160;&#160;</font>Mr. Harding has worked with Navidec as a controller and
handling of its SEC filings since July 28, 2008.&#160;&#160;On September 11,
2009, Mr. Harding was appointed the Chief Financial Officer and Secretary of
Navidec.&#160;&#160;Mr. Harding served on the board of directors, chair of the
governance, compensations and audit committees for Aerogrow International (a
public company based in Boulder Colorado USA, OTC: AERO) from 2005 &#8211; 2007.&#160;
He has served as vice president business development of Rivet Software since
December 2004. From August 2002 to December 2004 Mr. Harding was owner and
President of Wayne Harding &amp; Company, PC and from 2000 until August 2002 he
was director-business development of CPA2Biz.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="TEXT-ALIGN: center; WIDTH: 100%">&#160;</div>
          <div style="TEXT-ALIGN: center; WIDTH: 100%">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
        </div>
      </div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Mr.
Harding holds an active CPA license in Colorado and received his BS and MBA
degrees from the University of Denver, where he currently serves on the School
of Accountancy Advisory Board and head of the Academic Excellence
Committee.&#160; Mr. Harding also teaches in the University of Denver MBA
program on accounting issues.&#160;&#160;He is also past-President of the
Colorado Society of CPAs.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">FRED JONES.&#160;&#160;</font>Mr.
Jones is the co-Manager of HCIC Holdings, LLC.<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>Mr. Jones has over forty
years working in the railroad industry, with the exception of military service.
He has held various positions to include Chairman of the Board of Colorado
Kansas &amp; Pacific (2000 to 2003) a short line railroad in Southern Colorado,
and C.E.O. of I.T.S. Inc., a consulting and development firm.&#160;&#160;Mr.
Jones began his railroad career in 1964 at the Rio Grande Railroad, which merged
with the Southern Pacific and later the Union Pacific. He retired from Union
Pacific in September 2000 as Senior Manager of Train
Operations.&#160;&#160;After retirement from the Union Pacific, Mr. Jones worked
on a variety of projects including the establishment of two railroads, a rock
quarry, and several investment decisions by major investment houses, as a
consultant for the Gerson Lehrman Group. He is also experienced in working with
government agencies including the Federal Railroad Administration and the
Federal Aviation Administration.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">JOHN STROH II.&#160;&#160;</font> Mr.
Stroh received his Bachelor of Science in Business Administration from Colorado
State University in 1976. In 1991, he passed the Colorado state Certified
Appraiser exam. He received his real estate broker license in the State of
Colorado in 1976. Mr. Stroh has been a real estate broker since he received his
broker license in 1976. He is the owner/managing broker of Southern Colorado
Land and Livestock Company, a real estate management, appraisal, consulting, and
brokerage firm.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Mr. Stroh
is also an instructor for the Trinidad State Junior College. He teaches real
estate courses including water law, broker courses, and mandatory fair housing
courses.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Mr. Stroh
is Secretary of the Lower Cucharas Water Users Association and Secretary of the
Holita Ditch and Reservoir Companies and Secretary of the Walsenburg Ditch
Company. He is also Chairperson of the Sangre de Cristo Habitat Partnership
Program Committee.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item
5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
Year.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">At the
November 19, 2009 Shareholders&#8217; Meeting, the shareholders approved the following
amendments of the Articles of Incorporation.&#160;&#160;Such amendments were
filed with the Secretary of State of the State of Colorado on November 19,
2009.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Change
of Corporate Name</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On
November 19, 2009, the Company filed an Amendment to the Articles of
Incorporation to change the Company&#8217;s name from Navidec Financial Services, Inc.
to Two Rivers Water Company.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="TEXT-ALIGN: center; WIDTH: 100%">&#160;</div>
          <div style="TEXT-ALIGN: center; WIDTH: 100%">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
        </div>
      </div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Shareholder
Action By Written Consent</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On
November 19, 2009, the Company filed an Amendment to the Articles of
Incorporation to allow for actions to be taken by written consent if there are
shareholders holding shares having not less than the minimum number of votes
that would be necessary to authorize or take such action at a meeting at which
all of the shares entitled to vote thereon were present and voted, consent to
such action in writing.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SECTION
8 &#8211; OTHER INFORMATION</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item
8.01&#160;&#160;Other Information</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Shareholders&#8217;
Meeting</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On
November 19, 2009, the Company held its Annual Shareholder Meeting at 10:00 a.m.
at its corporate offices at 2000 South Colorado Blvd., Annex Suite 200, Denver,
Colorado.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">At such
meeting, 8,953,445 shares were eligible to vote and 7,102,642 shares were voted
as follows:</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div align="left">
        <table cellpadding="0" cellspacing="0" width="60%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
              <td valign="bottom" width="20%" style="BORDER-BOTTOM: black 2px solid">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline">Item</font></font></div>
              </td>
              <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline">For</font></font></div>
              </td>
              <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline">Against</font></font></div>
              </td>
              <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline">Abstain</font></font></div>
              </td>
              <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline">Non-Votes</font></font></div>
              </td>
            </tr><tr>
              <td align="left" valign="top" width="20%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Board
      of Directors</font></div>
              </td>
              <td valign="top" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              <td valign="top" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              <td valign="top" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              <td valign="top" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="top" width="20%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;John
      McKowen</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">7,078,223</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">23,420</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">999</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></div>
              </td>
            </tr><tr bgcolor="white">
              <td align="left" valign="top" width="20%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;Jolee
      R. Henry</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">7,090,528</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">11,115</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">999</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></div>
              </td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="top" width="20%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;Wayne
      Harding, III</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">7,087,815</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">14,601</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">226</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></div>
              </td>
            </tr><tr bgcolor="white">
              <td align="left" valign="top" width="20%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;Fred
      Jones</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">7,087,532</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">14,348</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">762</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></div>
              </td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="top" width="20%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;John
      Stroh, II</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">7,087,876</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">14,303</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">463</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></div>
              </td>
            </tr><tr bgcolor="white">
              <td valign="top" width="20%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              <td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              <td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              <td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              <td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="top" width="20%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Auditors</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">7,099,015</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,947</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">680</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></div>
              </td>
            </tr><tr bgcolor="white">
              <td align="left" valign="top" width="20%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Change
      Company Name</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">7,093,311</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">8,932</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">399</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></div>
              </td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="top" width="20%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Amendment
      to Articles</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4,956,427</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3,473</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">182</font></div>
              </td>
              <td valign="bottom" width="10%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,142,560</font></div>
              </td>
            </tr><tr bgcolor="white">
              <td valign="top" width="20%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              <td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              <td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              <td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              <td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            </tr></table>
      </div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
following items were approved at the Shareholders&#8217; Meeting:</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 54pt">
                <div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">-&#160;&#160;</font></div>
              </td>
              <td>
                <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Messers.
      John McKowen, Wayne Harding, III, Fred Jones, John Stroh, II and Ms. Jolee
      R. Henry were elected to the Board of Directors to serve until the next
      annual meeting of the Shareholders.</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 54pt">
                <div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">-&#160;&#160;</font></div>
              </td>
              <td>
                <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
      Company&#8217;s auditors, Schumacher and Associates of Denver, Colorado were
      approved.</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 54pt">
                <div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">-&#160;&#160;</font></div>
              </td>
              <td>
                <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
      Company&#8217;s name change to Two Rivers Water
  Company.</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 54pt">
                <div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">-&#160;&#160;</font></div>
              </td>
              <td>
                <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
      Company&#8217;s Articles of Incorporation will be amended to include the ability
      to shareholder action by written consent of the
    shareholders.</font></div>
              </td>
            </tr></table>
      </div><br>
      <div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160;
</font></div>
          <div style="TEXT-ALIGN: center; WIDTH: 100%">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160;
</font></div>
        </div>
      </div><br>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SIGNATURE</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;Pursuant
to the requirements of the Securities and Exchange Act of 1934, the Registrant
has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
              <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              <td align="left" valign="top" width="50%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NAVIDEC
      FINANCIAL SERVICES, INC.</font></div>
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(Registrant)</font></div>
              </td>
            </tr><tr>
              <td align="left" valign="bottom" width="50%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Dated:
      November 23,2009</font></div>
              </td>
              <td align="left" valign="top" width="50%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
                <div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">By:
      <font style="DISPLAY: inline">&#160;&#160;/s/ Wayne
      Harding</font></font></div>
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Wayne
      Harding, Chief&#160;&#160;Financial
Officer</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div>
        <hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="1">
        <hr style="MARGIN-TOP: -13px; COLOR: #000000" noshade size="4">
      </div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div><br></div>
  </body>
</html>
[{"type": "8-K", "sequence": "1", "filename": "nvdf8k_20091123.htm", "description": "NVDF 8K 20091123", "secsgml_size_bytes": 52724}]
{"company-data": {"conformed-name": "Navidec Financial Services, Inc.", "cik": "0001302946", "assigned-sic": "6199", "irs-number": "134228144", "state-of-incorporation": "CO", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-51139", "film-number": "091201457"}, "business-address": {"street1": "2000 S COLORADO BLVD.", "street2": "ANNEX STE 200", "city": "DENVER", "state": "CO", "zip": "80222", "phone": "303-222-1000"}, "mail-address": {"street1": "2000 S COLORADO BLVD.", "street2": "ANNEX STE 200", "city": "DENVER", "state": "CO", "zip": "80222"}}
nvdf8k_20091123.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
_________________
FORM
8K
_________________
Pursuant
to Section 12 or 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported):  November 19,
2009
TWO
RIVERS WATER COMPANY
_______________________________________________________
(Exact
name of registrant as specified in its charter)
Colorado
000-51139
13-4228144
(State
      of Incorporation)
(Commission
      File Number)
(IRS
      Employer Identification No.)
2000
South Colorado Blvd., Annex Suite 200, Denver, Colorado 80222
_______________________________________________
(Address
of principal executive offices)
303-222-1000
__________________________
(Registrant's
Telephone number)
Formerly: Navidec Financial
Services, Inc.
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.
[_]
Written communications pursuant to Rule 425 under the Securities
Act
(17
CFR240.14d-2(b))
[_]
Soliciting material pursuant to Rule 14a-12 under Exchange Act
(17
CFR240.14a-12)
[_]
Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange
Act
(17 CFR240.14d-2(b))
[_]
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange
Act
(17 CFR240.13e-4(c))
SECTION
3 – SECURITIES AND TRADING MARKETS
Item
3.03 Material Modification to Rights of Security Holders.
On
November 19, 2009, Two Rivers Water Company (the Company) (formerly Navidec
Financial Services, Inc.), held its' Annual Shareholder Meeting, as discussed
below in Item 8.01.  As a result of such meeting, the Articles of
Incorporation have been amended to include shareholder actions by written
consent.  Such amendment was filed with the Secretary of State of
Colorado on November 19, 2009.
Shareholder
actions can be approved by  written consent if there are if the
shareholders  holding shares having not less than the minimum number
of votes that would be necessary to authorize or take such action at a meeting
at which all of the shares  entitled to
vote  thereon  were present and voted, consent to such
action in writing.
SECTION
5 – CORPORATE GOVERNANCE AND MANAGEMENT
Item 5.02
Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
At the
Shareholders' Meeting, the Company's Board of Directors was elected. As a result
of the meeting the following changes were made to the Company's Board of
Directors.
Discharge
of Director
Mr.
Howard Farkas was not re-appointed to the Board of Directors.
Appointment
of Directors
Mr. John
McKowen and Ms. Jolee Henry were re-elected to the Board of Directors of the
Company.  Mr. McKowen also serves as the Chief Executive Officer of
the Company.
Messrs.
Wayne Harding III, John Stroh II and Fred Jones were elected to the Board of
Directors at the Shareholder Meeting.  All directors were elected to
serve until the next annual shareholders' meeting. Their backgrounds are
discussed below.
WAYNE E. HARDING,
III.
Mr. Harding has worked with Navidec as a controller and
handling of its SEC filings since July 28, 2008.  On September 11,
2009, Mr. Harding was appointed the Chief Financial Officer and Secretary of
Navidec.  Mr. Harding served on the board of directors, chair of the
governance, compensations and audit committees for Aerogrow International (a
public company based in Boulder Colorado USA, OTC: AERO) from 2005 – 2007. 
He has served as vice president business development of Rivet Software since
December 2004. From August 2002 to December 2004 Mr. Harding was owner and
President of Wayne Harding & Company, PC and from 2000 until August 2002 he
was director-business development of CPA2Biz.
Mr.
Harding holds an active CPA license in Colorado and received his BS and MBA
degrees from the University of Denver, where he currently serves on the School
of Accountancy Advisory Board and head of the Academic Excellence
Committee.  Mr. Harding also teaches in the University of Denver MBA
program on accounting issues.  He is also past-President of the
Colorado Society of CPAs.
FRED JONES.
Mr.
Jones is the co-Manager of HCIC Holdings, LLC.
Mr. Jones has over forty
years working in the railroad industry, with the exception of military service.
He has held various positions to include Chairman of the Board of Colorado
Kansas & Pacific (2000 to 2003) a short line railroad in Southern Colorado,
and C.E.O. of I.T.S. Inc., a consulting and development firm.  Mr.
Jones began his railroad career in 1964 at the Rio Grande Railroad, which merged
with the Southern Pacific and later the Union Pacific. He retired from Union
Pacific in September 2000 as Senior Manager of Train
Operations.  After retirement from the Union Pacific, Mr. Jones worked
on a variety of projects including the establishment of two railroads, a rock
quarry, and several investment decisions by major investment houses, as a
consultant for the Gerson Lehrman Group. He is also experienced in working with
government agencies including the Federal Railroad Administration and the
Federal Aviation Administration.
JOHN STROH II.
Mr.
Stroh received his Bachelor of Science in Business Administration from Colorado
State University in 1976. In 1991, he passed the Colorado state Certified
Appraiser exam. He received his real estate broker license in the State of
Colorado in 1976. Mr. Stroh has been a real estate broker since he received his
broker license in 1976. He is the owner/managing broker of Southern Colorado
Land and Livestock Company, a real estate management, appraisal, consulting, and
brokerage firm.
Mr. Stroh
is also an instructor for the Trinidad State Junior College. He teaches real
estate courses including water law, broker courses, and mandatory fair housing
courses.
Mr. Stroh
is Secretary of the Lower Cucharas Water Users Association and Secretary of the
Holita Ditch and Reservoir Companies and Secretary of the Walsenburg Ditch
Company. He is also Chairperson of the Sangre de Cristo Habitat Partnership
Program Committee.
Item
5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
Year.
At the
November 19, 2009 Shareholders' Meeting, the shareholders approved the following
amendments of the Articles of Incorporation.  Such amendments were
filed with the Secretary of State of the State of Colorado on November 19,
2009.
Change
of Corporate Name
On
November 19, 2009, the Company filed an Amendment to the Articles of
Incorporation to change the Company's name from Navidec Financial Services, Inc.
to Two Rivers Water Company.
Shareholder
Action By Written Consent
On
November 19, 2009, the Company filed an Amendment to the Articles of
Incorporation to allow for actions to be taken by written consent if there are
shareholders holding shares having not less than the minimum number of votes
that would be necessary to authorize or take such action at a meeting at which
all of the shares entitled to vote thereon were present and voted, consent to
such action in writing.
SECTION
8 – OTHER INFORMATION
Item
8.01  Other Information
Shareholders'
Meeting
On
November 19, 2009, the Company held its Annual Shareholder Meeting at 10:00 a.m.
at its corporate offices at 2000 South Colorado Blvd., Annex Suite 200, Denver,
Colorado.
At such
meeting, 8,953,445 shares were eligible to vote and 7,102,642 shares were voted
as follows:
Item
For
Against
Abstain
Non-Votes
Board
      of Directors
John
      McKowen
7,078,223
23,420
999
0
Jolee
      R. Henry
7,090,528
11,115
999
0
Wayne
      Harding, III
7,087,815
14,601
226
0
Fred
      Jones
7,087,532
14,348
762
0
John
      Stroh, II
7,087,876
14,303
463
0
Auditors
7,099,015
2,947
680
0
Change
      Company Name
7,093,311
8,932
399
0
Amendment
      to Articles
4,956,427
3,473
182
2,142,560
The
following items were approved at the Shareholders' Meeting:
-
Messers.
      John McKowen, Wayne Harding, III, Fred Jones, John Stroh, II and Ms. Jolee
      R. Henry were elected to the Board of Directors to serve until the next
      annual meeting of the Shareholders.
-
The
      Company's auditors, Schumacher and Associates of Denver, Colorado were
      approved.
-
The
      Company's name change to Two Rivers Water
  Company.
-
The
      Company's Articles of Incorporation will be amended to include the ability
      to shareholder action by written consent of the
    shareholders.
SIGNATURE
Pursuant
to the requirements of the Securities and Exchange Act of 1934, the Registrant
has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
NAVIDEC
      FINANCIAL SERVICES, INC.
(Registrant)
Dated:
      November 23,2009
By:
/s/ Wayne
      Harding
Wayne
      Harding, Chief  Financial
Officer