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      Unicorp Form 8-K Cornell Debentures
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    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; mso-outline-level: 1" align="center">UNITED
      STATES</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; mso-outline-level: 1" align="center">SECURITIES
      EXCHANGE COMMISSION</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; mso-outline-level: 1" align="center">WASHINGTON,
      D.C.20549</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; mso-outline-level: 1" align="center"><strong>FORM
      8-K</strong></div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; mso-outline-level: 1" align="center">CURRENT
      REPORT</div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; mso-outline-level: 1" align="center"><font size="2">Pursuant
      to Section&#160;13 or 15(d) of</font></div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; mso-outline-level: 1" align="center"><font size="2">The
      Securities Exchange Act of 1934</font></div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; mso-outline-level: 1" align="center"><font size="2">Date
      of Report (Date of earliest event reported): May
      17, 2007</font></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; mso-outline-level: 1" align="center"><strong>Unicorp,
      Inc.</strong></div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: #7f0000 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none; mso-element: para-border-div; mso-border-top-alt: solid #7F0000 .75pt">
      <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none; mso-border-top-alt: solid #7F0000 .75pt; mso-padding-alt: 0in 0in 0in 0in">&#160;</div>
    </div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font size="2">(Exact
      name of registrant as specified in its charter)</font></div>
    <div align="center">
      <table border="0" cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse; mso-padding-alt: 0in 0in 0in 0in; mso-table-layout-alt: fixed">

          <tr style="mso-yfti-irow: 0; mso-yfti-firstrow: yes;">
            <td valign="bottom" width="216" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 2.25in; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="bottom" width="36" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 27pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="bottom" width="216" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 2.25in; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="bottom" width="36" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 27pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="bottom" width="216" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 2.25in; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
          </tr>
          <tr style="mso-yfti-irow: 1;">
            <td valign="top" width="216" style="border-bottom: black thin solid;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font size="2">Nevada</font></div>
            </td>
            <td valign="bottom" width="36" style="border-bottom: #ffffff solid;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="216" style="border-bottom: black thin solid;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font size="2">2-73389</font></div>
            </td>
            <td valign="bottom" width="36" style="border-bottom: #ffffff solid;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="216" style="border-bottom: black thin solid;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font size="2">75-1764386</font></div>
            </td>
          </tr>
          <tr style="mso-yfti-irow: 3; mso-yfti-lastrow: yes;">
            <td valign="top" width="216" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 2.25in; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font size="2">(State
                of organization)</font></div>
            </td>
            <td valign="bottom" width="36" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 27pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="216" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 2.25in; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font size="2">(Commission
                File Number)</font></div>
            </td>
            <td valign="bottom" width="36" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 27pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="216" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 2.25in; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font size="2">(IRS
                Employer Identification
                No.)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div align="center">
      <table border="0" cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse; mso-padding-alt: 0in 0in 0in 0in; mso-table-layout-alt: fixed">

          <tr style="mso-yfti-irow: 0; mso-yfti-firstrow: yes;">
            <td valign="bottom" width="252" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 189pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="bottom" width="151" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 113.35pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="bottom" width="101" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 1.05in; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
          </tr>
          <tr style="mso-yfti-irow: 1;">
            <td valign="top" width="252" style="border-bottom: black thin solid;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0pt"><font size="2"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Galleria
                Financial Center</font></div>
              <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0pt"><font size="2"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;5075
                Westheimer Road, Suite 975</font></div>
              <div style="MARGIN: 0in 0in 0pt"><font size="2"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Houston,
                TX77056</font></div>
            </td>
            <td valign="bottom" width="151" style="border-bottom: #ffffff solid;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="bottom" width="101" style="border-bottom: black thin solid;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font size="2">77056</font></div>
            </td>
          </tr>
          <tr style="mso-yfti-irow: 3; mso-yfti-lastrow: yes;">
            <td valign="top" width="252" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 189pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt"><font size="2">(Address of principal
                executive offices)</font></div>
            </td>
            <td valign="bottom" width="151" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 113.35pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="101" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 1.05in; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font size="2">(Zip
                Code)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt"><font size="2">Registrant&#8217;s Telephone Number,
      including area code: (713)402-6700</font></div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><font size="2">Former
      name
      or former address, if changed since last report: Not Applicable</font></div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt"><font size="2">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:</font></div>
    <div align="center">
      <table border="0" cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse; mso-padding-alt: 0in 0in 0in 0in; mso-table-layout-alt: fixed">

          <tr style="mso-yfti-irow: 0; mso-yfti-firstrow: yes;">
            <td valign="bottom" width="22" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 16.15pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="bottom" width="7" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 5.35pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="bottom" width="677" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 507.55pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
          </tr>
          <tr style="mso-yfti-irow: 1;">
            <td valign="top" width="22" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 16.15pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt"><font size="2">o</font></div>
            </td>
            <td valign="bottom" width="7" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 5.35pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="bottom" width="677" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 507.55pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt"><font size="2">Written communications
                pursuant to Rule&#160;425 under the Securities Act (17 CFR
                230.425)</font></div>
            </td>
          </tr>
          <tr style="mso-yfti-irow: 2;">
            <td valign="top" width="22" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 16.15pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="bottom" width="7" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 5.35pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="bottom" width="677" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 507.55pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
          </tr>
          <tr style="mso-yfti-irow: 3;">
            <td valign="top" width="22" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 16.15pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt"><font size="2">o</font></div>
            </td>
            <td valign="bottom" width="7" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 5.35pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="bottom" width="677" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 507.55pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt"><font size="2">Soliciting material
                pursuant
                to Rule&#160;14a-12 under the Exchange Act (17 CFR 240.14a-
                12)</font></div>
            </td>
          </tr>
          <tr style="mso-yfti-irow: 4;">
            <td valign="top" width="22" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 16.15pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="bottom" width="7" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 5.35pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="bottom" width="677" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 507.55pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
          </tr>
          <tr style="mso-yfti-irow: 5;">
            <td valign="top" width="22" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 16.15pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt"><font size="2">o</font></div>
            </td>
            <td valign="bottom" width="7" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 5.35pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="bottom" width="677" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 507.55pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt"><font size="2">Pre-commencement
                communications pursuant to Rule&#160;14d-2(b) under the Exchange Act (17
                CFR 240.14d-2(b))</font></div>
            </td>
          </tr>
          <tr style="mso-yfti-irow: 6;">
            <td valign="top" width="22" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 16.15pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="bottom" width="7" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 5.35pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="bottom" width="677" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 507.55pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
          </tr>
          <tr style="mso-yfti-irow: 7; mso-yfti-lastrow: yes;">
            <td valign="top" width="22" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 16.15pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt"><font size="2">o</font></div>
            </td>
            <td valign="bottom" width="7" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 5.35pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="bottom" width="677" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 0in; border-top: #ebe9ed; padding-left: 0in; padding-bottom: 0in; border-left: #ebe9ed; width: 507.55pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt"><font size="2">Pre-commencement
                communications pursuant to Rule&#160;13e-4(c) under the Exchange Act (17
                CFR 240.13e-4(c))</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</div><br clear="all">
    <div style="MARGIN: 0in 0in 0pt"><strong><font size="2">Item
      1.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Entry into a Material Definitive Agreement</font></strong></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify"><font size="2">On
      May 17, 2007, Unicorp, Inc. (the &#8220;Company&#8221;) entered into a Securities
      Purchase Agreement (&#8220;SPA&#8221;) with Cornell Capital Partners, LP (&#8220;Cornell&#8221;)
      providing for a loan by Cornell to the Company of up to $7,000,000, of which
      a
      debenture was issued by the Company to Cornell for the principal amount of
      $3,500,00 at the closing.&#160; The SPA contemplates additional closings subject
      to certain terms and conditions for subsequent debentures aggregating
      $3,500,000.&#160; At the first closing, the Company also issued to Cornell
      warrants to purchase an aggregate of 8,121,500 shares of Common Stock.&#160; In
      connection with the SPA, the Company granted Cornell a security interest to
      collateralize its debt obligations.</font></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify"><font size="2">The
      debenture issued to Cornell in connection with the first closing is
      initially convertible into shares of the Company&#8217;s common stock (&#8220;Common Stock&#8221;)
      at $0.50 per share (&#8220;Conversion Price&#8221;) and matures in November
      2009.</font></div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify"><font size="2">The
      Conversion Price is subject to: (i) standard adjustment provisions
      for stock splits, reorganizations, mergers and consolidations; and (ii) a
      downward conversion price adjustment upon issuance of common stock at a purchase
      price less than the then Conversion Price.</font></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify"><font size="2">The
      following four warrants were issued in connection with the first
      closing:</font></div>
    <div style="MARGIN: 0in 0.5in 0pt 1.5in; TEXT-INDENT: -0.5in; TEXT-ALIGN: justify; tab-stops: 1.5in">&#160;</div>
    <div style="MARGIN: 0in 0.5in 0pt 1in; TEXT-INDENT: -0.25in; TEXT-ALIGN: justify; tab-stops: 1.0in; mso-list: l0 level1 lfo1"><font size="2">&#183;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<font size="2">A
      warrant to purchase 2,545,000 shares of Common Stock at $0.55 per share, which
      expires in 5 years.</font></div>
    <div style="MARGIN: 0in 0.5in 0pt 1in; TEXT-INDENT: -0.25in; TEXT-ALIGN: justify; tab-stops: 1.0in; mso-list: l0 level1 lfo1"><font size="2">&#183;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<font size="2">A
      warrant to purchase 2,154,000 shares of Common Stock at $0.65 per share, which
      expires in 5 years.</font></div>
    <div style="MARGIN: 0in 0.5in 0pt 1in; TEXT-INDENT: -0.25in; TEXT-ALIGN: justify; tab-stops: 1.0in; mso-list: l0 level1 lfo1"><font size="2">&#183;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<font size="2">A
      warrant to purchase 1,867,000 shares of Common Stock at $0.75 per share, which
      expires in 5 years.</font></div>
    <div style="MARGIN: 0in 0.5in 0pt 1in; TEXT-INDENT: -0.25in; TEXT-ALIGN: justify; tab-stops: 1.0in; mso-list: l0 level1 lfo1"><font size="2">&#183;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<font size="2">A
      warrant to purchase 1,555,500 shares of Common Stock at $0.90 per share, which
      expires in 5 years.</font></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify"><font size="2">Each
      of the four warrants described above contains standard adjustment
      provisions for stock splits, distributions, reorganizations, mergers and
      consolidations.&#160; </font></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify"><font size="2">The
      Company has agreed to file a registration statement with the
      Securities and Exchange Commission by July 2, 2007 in order to register the
      resale of the shares of common stock issuable upon conversion of the debentures
      and the shares of common stock issuable upon exercise of the warrants.&#160; If
      the Company fails to meet this deadline, if the registration statement is not
      declared effective prior October 15, 2007, or if the registration statement
      ceases to remain effective, the Company has agreed to pay the investors
      liquidated damages of 1.0% of the amount paid for the debentures, up to 12%
      of
      the aggregate amount paid.&#160; The Company is not liable for liquidated
      damages with respect to the warrants.&#160; </font></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify"><font size="2">This
      summary description of the transaction does not purport to be
      complete and is qualified in its entirety by reference to the form of the
      agreements and the other documents and instruments that are filed as exhibits
      to
      this current report.</font></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><strong><font size="2">Item
      3.02&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Unregistered Sales of Equity Securities</font></strong></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      As more fully described in Item 1.01, the Company issued (i) warrants to
      purchase a total of 8,121,500 shares of Company common stock; and (ii)
      debentures, which are initially convertible into shares of Company common stock
      at a conversion price $0.50 per share.&#160; </font></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify"><font size="2">These
      issuances were made without registration under the Act, or the
      securities laws of certain states, in reliance on the exemptions provided by
      Section 4(2) of Act and Regulation D under the Act and in reliance on similar
      exemptions under applicable state laws.</font></div><br clear="all">
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">2</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt"><strong><font size="2">Item
      9.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Financial Statements and Exhibits</font></strong></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      </font></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify"><font size="2">(c)
&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      Exhibits</font></div>
    <div style="MARGIN: 0in 0in 0pt 0.5in; TEXT-ALIGN: justify">&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="583" style="MARGIN: auto auto auto 77.4pt; WIDTH: 437.4pt; BORDER-COLLAPSE: collapse; mso-padding-alt: 0in 5.4pt 0in 5.4pt; mso-yfti-tbllook: 480">

          <tr style="mso-yfti-irow: 0; mso-yfti-firstrow: yes;">
            <td valign="top" width="108" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 5.4pt; border-top: #ebe9ed; padding-left: 5.4pt; padding-bottom: 0in; border-left: #ebe9ed; width: 81pt; padding-top: 0in; border-bottom: windowtext 1pt solid; mso-border-bottom-alt: solid windowtext .5pt;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font size="2">Exhibit
                No.</font></div>
            </td>
            <td valign="top" width="475" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 5.4pt; border-top: #ebe9ed; padding-left: 5.4pt; padding-bottom: 0in; border-left: #ebe9ed; width: 4.95in; padding-top: 0in; border-bottom: windowtext 1pt solid; mso-border-bottom-alt: solid windowtext .5pt;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><font size="2">Identification
                of Exhibit</font></div>
            </td>
          </tr>
          <tr style="mso-yfti-irow: 1;">
            <td valign="top" width="108" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 5.4pt; border-top: #ebe9ed; padding-left: 5.4pt; padding-bottom: 0in; border-left: #ebe9ed; width: 81pt; padding-top: 0in; border-bottom: #ebe9ed; mso-border-top-alt: solid windowtext .5pt;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font size="2"><a href="ex101.htm">10.1</a></font></div>
            </td>
            <td valign="top" width="475" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 5.4pt; border-top: #ebe9ed; padding-left: 5.4pt; padding-bottom: 0in; border-left: #ebe9ed; width: 4.95in; padding-top: 0in; border-bottom: #ebe9ed; mso-border-top-alt: solid windowtext .5pt;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><font size="2"><a href="ex101.htm">Securities
                Purchase Agreement (&#8220;SPA&#8221;) dated May 17,
                2007</a></font></div>
            </td>
          </tr>
          <tr style="mso-yfti-irow: 2;">
            <td valign="top" width="108" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 5.4pt; border-top: #ebe9ed; padding-left: 5.4pt; padding-bottom: 0in; border-left: #ebe9ed; width: 81pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font size="2"><a href="ex102.htm">10.2</a></font></div>
            </td>
            <td valign="top" width="475" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 5.4pt; border-top: #ebe9ed; padding-left: 5.4pt; padding-bottom: 0in; border-left: #ebe9ed; width: 4.95in; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><font size="2"><a href="ex102.htm">Registration
                Rights Agreement dated May 17,
                2007</a></font></div>
            </td>
          </tr>
          <tr style="mso-yfti-irow: 3;">
            <td valign="top" width="108" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 5.4pt; border-top: #ebe9ed; padding-left: 5.4pt; padding-bottom: 0in; border-left: #ebe9ed; width: 81pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font size="2"><a href="ex103.htm">10.3</a></font></div>
            </td>
            <td valign="top" width="475" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 5.4pt; border-top: #ebe9ed; padding-left: 5.4pt; padding-bottom: 0in; border-left: #ebe9ed; width: 4.95in; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><font size="2"><a href="ex103.htm">Secured
                Convertible Debenture
                Agreement</a></font></div>
            </td>
          </tr>
          <tr style="mso-yfti-irow: 4;">
            <td valign="top" width="108" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 5.4pt; border-top: #ebe9ed; padding-left: 5.4pt; padding-bottom: 0in; border-left: #ebe9ed; width: 81pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font size="2"><a href="ex104.htm">10.4</a></font></div>
            </td>
            <td valign="top" width="475" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 5.4pt; border-top: #ebe9ed; padding-left: 5.4pt; padding-bottom: 0in; border-left: #ebe9ed; width: 4.95in; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><font size="2"><a href="ex104.htm">Form&#160;of
                Warrant issued in connection with
                SPA</a></font></div>
            </td>
          </tr>
          <tr style="mso-yfti-irow: 5; mso-yfti-lastrow: yes;">
            <td valign="top" width="108" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 5.4pt; border-top: #ebe9ed; padding-left: 5.4pt; padding-bottom: 0in; border-left: #ebe9ed; width: 81pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font size="2"><a href="ex105.htm">10.5</a></font></div>
            </td>
            <td valign="top" width="475" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 5.4pt; border-top: #ebe9ed; padding-left: 5.4pt; padding-bottom: 0in; border-left: #ebe9ed; width: 4.95in; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><font size="2"><a href="ex105.htm">Security
                Agreement</a></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; mso-outline-level: 1" align="center"><strong><font size="2">SIGNATURES</font></strong></div><br clear="all">
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font size="2">Pursuant&#160;
      to&#160; the&#160; requirements of the Securities Exchange Act of 1934, the
      registrant&#160; has&#160; duly&#160; caused&#160; this&#160; report&#160;
to&#160; be&#160; signed on its behalf by the undersigned&#160; hereunto&#160;
duly&#160; authorized.</font></div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<strong>UNICORP. INC.</strong></font></div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
By: &#160;<u>_/s/&#160; Carl A. Chase______________</u></font></div>
    <div style="MARGIN: 0in 0in 0pt 2.5in; TEXT-INDENT: 0.5in; mso-outline-level: 1"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Carl
      A. Chase, Chief Financial
      Officer</font></div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt"><font size="2">DATE:&#160; May 21,
      2007</font></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">3</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div><br clear="all">
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; mso-outline-level: 1" align="center"><strong><font size="2">EXHIBIT
      INDEX</font></strong></div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" style="MARGIN: auto auto auto 41.4pt; BORDER-COLLAPSE: collapse; mso-padding-alt: 0in 5.4pt 0in 5.4pt; mso-yfti-tbllook: 480">

          <tr style="mso-yfti-irow: 0; mso-yfti-firstrow: yes;">
            <td valign="top" width="108" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 5.4pt; border-top: #ebe9ed; padding-left: 5.4pt; padding-bottom: 0in; border-left: #ebe9ed; width: 81pt; padding-top: 0in; border-bottom: windowtext 1pt solid; mso-border-bottom-alt: solid windowtext .5pt;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font size="2">Exhibit
                No.</font></div>
            </td>
            <td valign="top" width="475" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 5.4pt; border-top: #ebe9ed; padding-left: 5.4pt; padding-bottom: 0in; border-left: #ebe9ed; width: 4.95in; padding-top: 0in; border-bottom: windowtext 1pt solid; mso-border-bottom-alt: solid windowtext .5pt;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><font size="2">Identification
                of Exhibit</font></div>
            </td>
          </tr>
          <tr style="mso-yfti-irow: 1;">
            <td valign="top" width="108" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 5.4pt; border-top: #ebe9ed; padding-left: 5.4pt; padding-bottom: 0in; border-left: #ebe9ed; width: 81pt; padding-top: 0in; border-bottom: #ebe9ed; mso-border-top-alt: solid windowtext .5pt;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font size="2"><a href="ex101.htm">10.1</a></font></div>
            </td>
            <td valign="top" width="475" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 5.4pt; border-top: #ebe9ed; padding-left: 5.4pt; padding-bottom: 0in; border-left: #ebe9ed; width: 4.95in; padding-top: 0in; border-bottom: #ebe9ed; mso-border-top-alt: solid windowtext .5pt;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><font size="2"><a href="ex101.htm">Securities
                Purchase Agreement (&#8220;SPA&#8221;) dated May 17,
                2007</a></font></div>
            </td>
          </tr>
          <tr style="mso-yfti-irow: 2;">
            <td valign="top" width="108" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 5.4pt; border-top: #ebe9ed; padding-left: 5.4pt; padding-bottom: 0in; border-left: #ebe9ed; width: 81pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font size="2"><a href="ex102.htm">10.2</a></font></div>
            </td>
            <td valign="top" width="475" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 5.4pt; border-top: #ebe9ed; padding-left: 5.4pt; padding-bottom: 0in; border-left: #ebe9ed; width: 4.95in; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><font size="2"><a href="ex102.htm">Registration
                Rights Agreement dated May 17,
                2007</a></font></div>
            </td>
          </tr>
          <tr style="mso-yfti-irow: 3;">
            <td valign="top" width="108" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 5.4pt; border-top: #ebe9ed; padding-left: 5.4pt; padding-bottom: 0in; border-left: #ebe9ed; width: 81pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font size="2"><a href="ex103.htm">10.3</a></font></div>
            </td>
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              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><font size="2"><a href="ex103.htm">Secured
                Convertible Debenture
                Agreement</a></font></div>
            </td>
          </tr>
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            <td valign="top" width="108" bgcolor="transparent" style="border-right: #ebe9ed; padding-right: 5.4pt; border-top: #ebe9ed; padding-left: 5.4pt; padding-bottom: 0in; border-left: #ebe9ed; width: 81pt; padding-top: 0in; border-bottom: #ebe9ed;">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font size="2"><a href="ex104.htm">10.4</a></font></div>
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              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><font size="2"><a href="ex104.htm">Form&#160;of
                Warrant issued in connection with
                SPA</a></font></div>
            </td>
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              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font size="2"><a href="ex105.htm">10.5</a></font></div>
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              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><font size="2"><a href="ex105.htm">Security
                Agreement</a></font></div>
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{"company-data": {"conformed-name": "UNICORP INC /NEW", "cik": "0000354507", "assigned-sic": "1311", "irs-number": "751764386", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-10351", "film-number": "07866116"}, "business-address": {"street1": "1117 HERKIMER STREET", "street2": "SUITE 110", "city": "HOUSTON", "state": "TX", "zip": "77008", "phone": "713 802 2944"}, "mail-address": {"street1": "1117 HERKIMER STREET", "street2": "SUITE 110", "city": "HOUSTON", "state": "TX", "zip": "77008"}, "former-company": [{"former-conformed-name": "AUTO AXZPT COM INC", "date-changed": "19990331"}, {"former-conformed-name": "UNICORP INC", "date-changed": "19980217"}, {"former-conformed-name": "TEXOIL INC", "date-changed": "19881107"}]}
Unicorp Form 8-K Cornell Debentures
UNITED
      STATES
SECURITIES
      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): May
      17, 2007
Unicorp,
      Inc.
(Exact
      name of registrant as specified in its charter)
Nevada
2-73389
75-1764386
(State
                of organization)
(Commission
                File Number)
(IRS
                Employer Identification
                No.)
Galleria
                Financial Center
5075
                Westheimer Road, Suite 975
Houston,
                TX77056
77056
(Address of principal
                executive offices)
(Zip
                Code)
Registrant's Telephone Number,
      including area code: (713)402-6700
Former
      name
      or former address, if changed since last report: Not Applicable
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))
Item
      1.01              
Entry into a Material Definitive Agreement
On
      May 17, 2007, Unicorp, Inc. (the "Company") entered into a Securities
      Purchase Agreement ("SPA") with Cornell Capital Partners, LP ("Cornell")
      providing for a loan by Cornell to the Company of up to $7,000,000, of which
      a
      debenture was issued by the Company to Cornell for the principal amount of
      $3,500,00 at the closing.  The SPA contemplates additional closings subject
      to certain terms and conditions for subsequent debentures aggregating
      $3,500,000.  At the first closing, the Company also issued to Cornell
      warrants to purchase an aggregate of 8,121,500 shares of Common Stock.  In
      connection with the SPA, the Company granted Cornell a security interest to
      collateralize its debt obligations.
The
      debenture issued to Cornell in connection with the first closing is
      initially convertible into shares of the Company's common stock ("Common Stock")
      at $0.50 per share ("Conversion Price") and matures in November
      2009.
The
      Conversion Price is subject to: (i) standard adjustment provisions
      for stock splits, reorganizations, mergers and consolidations; and (ii) a
      downward conversion price adjustment upon issuance of common stock at a purchase
      price less than the then Conversion Price.
The
      following four warrants were issued in connection with the first
      closing:
·
A
      warrant to purchase 2,545,000 shares of Common Stock at $0.55 per share, which
      expires in 5 years.
·
A
      warrant to purchase 2,154,000 shares of Common Stock at $0.65 per share, which
      expires in 5 years.
·
A
      warrant to purchase 1,867,000 shares of Common Stock at $0.75 per share, which
      expires in 5 years.
·
A
      warrant to purchase 1,555,500 shares of Common Stock at $0.90 per share, which
      expires in 5 years.
Each
      of the four warrants described above contains standard adjustment
      provisions for stock splits, distributions, reorganizations, mergers and
      consolidations.
The
      Company has agreed to file a registration statement with the
      Securities and Exchange Commission by July 2, 2007 in order to register the
      resale of the shares of common stock issuable upon conversion of the debentures
      and the shares of common stock issuable upon exercise of the warrants.  If
      the Company fails to meet this deadline, if the registration statement is not
      declared effective prior October 15, 2007, or if the registration statement
      ceases to remain effective, the Company has agreed to pay the investors
      liquidated damages of 1.0% of the amount paid for the debentures, up to 12%
      of
      the aggregate amount paid.  The Company is not liable for liquidated
      damages with respect to the warrants.
This
      summary description of the transaction does not purport to be
      complete and is qualified in its entirety by reference to the form of the
      agreements and the other documents and instruments that are filed as exhibits
      to
      this current report.
Item
      3.02              
Unregistered Sales of Equity Securities
As more fully described in Item 1.01, the Company issued (i) warrants to
      purchase a total of 8,121,500 shares of Company common stock; and (ii)
      debentures, which are initially convertible into shares of Company common stock
      at a conversion price $0.50 per share.
These
      issuances were made without registration under the Act, or the
      securities laws of certain states, in reliance on the exemptions provided by
      Section 4(2) of Act and Regulation D under the Act and in reliance on similar
      exemptions under applicable state laws.
2
Item
      9.01              
Financial Statements and Exhibits
(c)
         
      Exhibits
Exhibit
                No.
Identification
                of Exhibit
10.1
Securities
                Purchase Agreement ("SPA") dated May 17,
                2007
10.2
Registration
                Rights Agreement dated May 17,
                2007
10.3
Secured
                Convertible Debenture
                Agreement
10.4
Form of
                Warrant issued in connection with
                SPA
10.5
Security
                Agreement
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  hereunto 
duly  authorized.
UNICORP. INC.
By:
_/s/  Carl A. Chase______________
Carl
      A. Chase, Chief Financial
      Officer
DATE:  May 21,
      2007
3
EXHIBIT
      INDEX
Exhibit
                No.
Identification
                of Exhibit
10.1
Securities
                Purchase Agreement ("SPA") dated May 17,
                2007
10.2
Registration
                Rights Agreement dated May 17,
                2007
10.3
Secured
                Convertible Debenture
                Agreement
10.4
Form of
                Warrant issued in connection with
                SPA
10.5
Security
                Agreement
4