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            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: right"><font size="2">As
            filed with the Securities and Exchange Commission on December 17, 2007</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: right">
            <font size="2">Registration No. 333-________</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">UNITED STATES</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">SECURITIES AND EXCHANGE COMMISSION</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">Washington, D.C. 20549</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">FORM S-8</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF
            1933</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">NaturalNano, Inc.</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">(Exact name of registrant as specified in its charter)</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="624" border="0">
                <tr>
                    <td width="246">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b><font size="2">Nevada</font></b></p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="2">(State or other jurisdiction of</font></p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="2">incorporation or organization)</font></p>
                    </td>

                    <td valign="top" width="170">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b><font size="2">8731</font></b></p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="2">(Primary Standard Industrial Classification Code
                        Number)</font></p>
                    </td>

                    <td width="208">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b><font size="2">87-0646435</font></b></p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="2">(I.R.S. Employer</font></p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="2">identification No.)</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">15
            Schoen Place, Pittsford, NY 14534</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">(Address of principal executive offices) (Zip Code)</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">Amended and Restated 2007 Incentive Stock Plan</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">(full
            title of the plan)</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">Cathy
            A. Fleischer, President</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">NaturalNano, Inc.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">15
            Schoen Place</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">Pittsford, NY 14534</font></p>

            <p style="MARGIN-TOP: 8.5pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">(Name and address of agent for service)</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">(585)
            267-4850</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">(Telephone number, including area code, of agent for service)</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">With
            a copy to:</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">Gregory Sichenzia, Esq.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">Yoel
            Goldfeder, Esq.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">Sichenzia Ross Friedman Ference LLP</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">61
            Broadway</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">New
            York, NY 10006</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">Phone
            (212) 930-9700</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">Fax
            (212) 930-9725</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">1</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 8.5pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">CALCULATION OF REGISTRATION FEE</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="707" border="0">
                <tr>
                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="bottom" width="192">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1.5pt solid" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="bottom" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="bottom" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="bottom" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="bottom" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="bottom" width="1">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="bottom" width="192">
                        <p style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b><font size="1">Title of each class of securities</font></b></p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b><font size="1">to be registered</font></b></p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1.5pt solid" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="bottom" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b><font size="1">Amount to be Registered</font></b></p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="bottom" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b><font size="1">Proposed Maximum Offering Price Per
                        Security</font></b></p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="bottom" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b><font size="1">Proposed Maximum Aggregate Offering Price</font></b></p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="bottom" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b><font size="1">Amount of Registration Fee</font></b></p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="bottom" width="1">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="BACKGROUND: #ccffcc" valign="bottom" width="192">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Common Stock, $0.001 par value</font></p>
                    </td>

                    <td style="BACKGROUND: #ccffcc" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td style="BACKGROUND: #ccffcc" valign="bottom" width="9">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td style="BACKGROUND: #ccffcc" valign="bottom" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="2">17,000,000</font> <b><font size="2">(1</font></b></p>
                    </td>

                    <td style="BACKGROUND: #ccffcc" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <b><font size="2">)</font></b></p>
                    </td>

                    <td style="BACKGROUND: #ccffcc" valign="bottom" width="17">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 0.54%; TEXT-ALIGN: left">
                        &nbsp;</p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">$</font></p>
                    </td>

                    <td style="BACKGROUND: #ccffcc" valign="bottom" width="95">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 0.54%; TEXT-ALIGN: right">
                        &nbsp;</p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="2">0.13</font><b><font size="2">(2</font></b></p>
                    </td>

                    <td style="BACKGROUND: #ccffcc" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 0.54%; TEXT-ALIGN: left">
                        &nbsp;</p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <b><font size="2">)</font></b></p>
                    </td>

                    <td style="BACKGROUND: #ccffcc" valign="bottom" width="9">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">$</font></p>
                    </td>

                    <td style="BACKGROUND: #ccffcc" valign="bottom" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="2">2,210,000</font></p>
                    </td>

                    <td style="BACKGROUND: #ccffcc" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td style="BACKGROUND: #ccffcc" valign="bottom" width="22">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">$</font></p>
                    </td>

                    <td style="BACKGROUND: #ccffcc" valign="bottom" width="104">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="2">67.85</font></p>
                    </td>

                    <td style="BACKGROUND: #ccffcc" valign="bottom" width="1">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td width="192">
                    </td>

                    <td width="16">
                    </td>

                    <td width="9">
                    </td>

                    <td width="97">
                    </td>

                    <td width="16">
                    </td>

                    <td width="17">
                    </td>

                    <td width="95">
                    </td>

                    <td width="16">
                    </td>

                    <td width="9">
                    </td>

                    <td width="97">
                    </td>

                    <td width="16">
                    </td>

                    <td width="22">
                    </td>

                    <td width="104">
                    </td>

                    <td width="1">
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td valign="top" width="49">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">(1)&nbsp;&nbsp;</font></p>
                    </td>

                    <td valign="top" width="575">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="1">Represents shares of common stock underlying our</font>
                        <font size="2">Amended and Restated</font><font size="1">2007 Incentive
                        Stock Plan.</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="49">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">(2)&nbsp;&nbsp;</font></p>
                    </td>

                    <td valign="top" width="575">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="1">Estimated solely for purposes of calculating the
                        registration fee in accordance with Rule 457(c) of the</font>
                        <font size="1">Securities Act of 1933, as amended, using the average of the
                        high and low price as reported on the Over-The-Counter Bulletin Board
                        on</font> <font size="2">December</font> <font size="1">14,
                        2007.</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 8.5pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">2</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: right">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">EXPLANATORY NOTE</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.56in; TEXT-ALIGN: justify">
            <b><font size="2">This Registration Statement is being filed in accordance with the
            requirements of Form S-8 in order to register an aggregate of 17,000,000 shares of our
            common stock, par value $0.001 per share, issuable under our</font>
            <font size="2">Amended and Restated</font> <font size="2">2007 Incentive Stock
            Plan.</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">In addition, the Prospectus filed as part of this Registration Statement
            has been prepared in accordance with the requirements of Form S-3 and may be used for
            reofferings and resales of up to an aggregate of 17,000,000 shares of our common stock,
            under our Amended and Restated</font><font size="2">2007 Incentive Stock
            Plan.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: center">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: center">
            <b><font size="2">PART I</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="201" border="0">
                <tr>
                    <td valign="top" width="79">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <b><font size="2">Item 1.</font></b><font size="2">&nbsp;&nbsp;</font></p>
                    </td>

                    <td valign="top" width="123">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <b><font size="2">Plan Information.</font></b></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <font size="2">NaturalNano, Inc. ("We", "us", "our company" or "NaturalNano") will
            provide each participant (the "Recipient") with documents that contain information
            related to our 2007 Incentive Stock Plan, and other information including, but not
            limited to, the disclosure required by Item 1 of Form S-8, which information is not
            filed as a part of this Registration Statement on Form S-8 (the "Registration
            Statement"). The foregoing information and the documents incorporated by reference in
            response to Item 3 of Part II of this Registration Statement taken together constitute
            a prospectus that meets the requirements of Section 10(a) of the Securities Act. A
            Section 10(a) prospectus will be given to each Recipient who receives common shares
            covered by this Registration Statement, in accordance with Rule 428(b)(1) under the
            Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;).</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="468" border="0">
                <tr>
                    <td valign="top" width="80">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <b><font size="2">Item 2.</font></b><font size="2">&nbsp;&nbsp;</font></p>
                    </td>

                    <td valign="top" width="388">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <b><font size="2">Registrant Information and Employee Plan Annual
                        Information.</font></b></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2">We
            will provide to each Recipient a written statement advising of the availability of
            documents incorporated by reference in Item 3 of Part II of this Registration Statement
            and of documents required to be delivered pursuant to Rule 428(b) under the Securities
            Act without charge and upon written or oral notice by contacting:</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">Cathy
            A. Fleischer, President</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">15
            Schoen Place</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">Pittsford, NY 14534</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">Telephone: (585) 267-4850</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">3</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"></p>

            <p style="MARGIN-TOP: 8.5pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">REOFFER PROSPECTUS</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">NaturalNano, Inc.</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">17,000,000</font></b> <b><font size="2">Shares of</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">Common Stock</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">This reoffer prospectus relates to the sale of up to 17,000,000 shares
            of our common stock, $0.001 par value per share, that may be offered and resold from
            time to time by certain eligible participants and existing selling shareholders
            identified in this prospectus for their own account issuable pursuant to our Amended
            and Restated</font><font size="2">2007 Incentive Stock Plan. It is anticipated that the
            selling shareholders will offer common shares for sale at prevailing prices on the OTC
            Bulletin Board on the date of sale. We will receive no part of the proceeds from sales
            made under this reoffer prospectus. The selling shareholders will bear all sales
            commissions and similar expenses. Any other expenses incurred by us in connection with
            the registration and offering and not borne by the selling shareholders will be borne
            by us.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">The shares of common stock will be issued pursuant to awards granted
            under our Amended and Restated 2007 Incentive Stock Plan. This reoffer prospectus has
            been prepared for the purposes of registering the common shares under the Securities
            Act to allow for future sales by selling shareholders on a continuous or delayed basis
            to the public without restriction.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">Our common stock is quoted on the OTC Bulletin Board under the symbol
            NNAN. The closing sale price for our common stock on December 14, 2007 was $0.15 per
            share.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">Investing in our common stock involves risks. See "Risk Factors" on
            page&nbsp;7 of this reoffer prospectus. These are speculative securities.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">Since our company does not currently meet the registrant requirements
            for use of Form S-3, the amount of common shares which may be resold by means of this
            reoffer prospectus by each of the selling stockholders, and any other person with whom
            he or she is acting in concert for the purpose of selling securities of our company,
            must not exceed, in any three month period, the amount specified in Rule 144(e)
            promulgated under the Securities Act.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <b><font size="2">NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE
            SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF
            THIS PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A
            CRIMINAL OFFENSE.</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">The
            date of this prospectus is December 17, 2007.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">4</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">
            <b><font size="2">NATURALNANO,</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">TABLE OF CONTENTS</font></b></p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="623" border="0">
                <tr>
                    <td valign="top" width="576">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="47">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <b><font size="2">Page</font></b></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="608" border="0">
                <tr>
                    <td valign="top" width="48">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Prospectus Summary</font></p>
                    </td>

                    <td valign="top" width="27">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">6</font></p>
                    </td>

                    <td width="5">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="48">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Risk Factors</font></p>
                    </td>

                    <td valign="top" width="27">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">7</font></p>
                    </td>

                    <td width="5">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="48">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="527">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Cautionary Note Regarding Forward-Looking
                        Statements</font></p>
                    </td>

                    <td valign="top" colspan="3">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">15</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="48">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Determination of Offering Price</font></p>
                    </td>

                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">15</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="48">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Use of Proceeds</font></p>
                    </td>

                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">15</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="48">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Selling Stockholders</font></p>
                    </td>

                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">15</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="48">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Plan of Distribution</font></p>
                    </td>

                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">17</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="48">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Legal Matters</font></p>
                    </td>

                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">20</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="48">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Experts</font></p>
                    </td>

                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">20</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="48">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Incorporation of Certain Documents by Reference</font></p>
                    </td>

                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">20</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="48">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Disclosure of Commission Position on Indemnification for
                        Securities Act Liabilities</font></p>
                    </td>

                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">21</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="48">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Additional Information Available to You</font></p>
                    </td>

                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">21</font></p>
                    </td>
                </tr>

                <tr>
                    <td width="48">
                    </td>

                    <td width="527">
                    </td>

                    <td width="1">
                    </td>

                    <td width="27">
                    </td>

                    <td width="5">
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">NO PERSON HAS BEEN AUTHORIZED TO GIVE ANY INFORMATION OR TO MAKE ANY
            REPRESENTATIONS, OTHER THAN THOSE CONTAINED IN THIS PROSPECTUS, IN CONNECTION WITH THE
            OFFERING MADE HEREBY, AND, IF GIVEN OR MADE, SUCH INFORMATION OR REPRESENTATION MUST
            NOT BE RELIED UPON AS HAVING BEEN AUTHORIZED BY THE COMPANY OR ANY OTHER PERSON.
            NEITHER THE DELIVERY OF THIS PROSPECTUS NOR ANY SALE MADE HEREUNDER SHALL UNDER ANY
            CIRCUMSTANCES CREATE ANY IMPLICATION THAT THERE HAS BEEN NO CHANGE IN THE AFFAIRS OF
            THE COMPANY SINCE THE DATE HEREOF. THIS PROSPECTUS DOES NOT CONSTITUTE AN OFFER TO SELL
            OR A SOLICITATION OF AN OFFER TO BUY ANY SECURITIES OFFERED HEREBY BY ANYONE IN ANY
            JURISDICTION IN WHICH SUCH OFFER OR SOLICITATION IS NOT AUTHORIZED OR IN WHICH THE
            PERSON MAKING SUCH OFFER OR SOLICITATION IS NOT QUALIFIED TO DO SO OR TO ANY PERSON TO
            WHOM IT IS UNLAWFUL TO MAKE SUCH OFFER OR SOLICITATION.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">5</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 8.5pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">PROSPECTUS SUMMARY</font></b></p>

            <p style="MARGIN-TOP: 11.25pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.56in; TEXT-ALIGN: justify">
            <font size="2">We are domiciled in the State of Nevada as a result of a merger with
            Cementitious Materials, Inc. on November 29, 2005. NaturalNano is a development stage
            company and we expect to remain so for at least the next twelve months. Our primary
            mission is to develop and commercialize material science technologies with a special
            emphasis on additives to&nbsp;plastic formulations&nbsp;and other industrial and
            consumer products by taking advantage of technological advances we have developed
            in-house and through licenses from third parties. These technologies focus primarily on
            nanoscale materials (that is, materials&nbsp;measured using one-billionth of a meter
            units)&nbsp;using modifications to tubular materials found in halloysite clay, a
            naturally-occurring, clay-like material. Our strategy is to develop proprietary and
            patentable processes and technologies related to these nanoscale materials and to
            commercialize these through product sales or license agreements to companies in the
            plastics and composites, cosmetics and personal care products, household products, and
            agrichemical industries. We began our current line of business on December 22, 2004.
            From that date through&nbsp;September 30, 2007, we have incurred cumulative net losses
            of $15,810,288. We have relied almost entirely on sales of&nbsp;debt and
            equity&nbsp;securities and related party advances to fund our operations.</font></p>

            <p style="MARGIN-TOP: 11.25pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.57in; TEXT-ALIGN: justify">
            <font size="2">Our principal executive offices are located at 15 Schoen Place,
            Pittsford, New York 14534 and our telephone number is (585) 267-4850.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">The Offering</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="624" border="0">
                <tr>
                    <td valign="top" width="362">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Common stock outstanding before the offering</font></p>
                    </td>

                    <td width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="246">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">122,880,740 shares.</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="362">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="246">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="362">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Common stock issuable upon exercise of outstanding options
                        which may be offered pursuant to this prospectus</font></p>
                    </td>

                    <td width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="246">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">17,000,000 shares</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="362">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="246">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="362">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Common stock to be outstanding after the offering</font></p>
                    </td>

                    <td width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="246">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">122,880,740 shares, which includes 17,000,000 shares
                        issuable upon exercise of outstanding stock options.</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="362">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="246">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="362">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Use of proceeds</font></p>
                    </td>

                    <td width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="246">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">We will receive the exercise price from the sale of shares
                        to the selling stockholders when, and if, such selling stockholders
                        exercise their stock options. Any proceeds received by us from the exercise
                        of such stock options will be used for general working capital
                        purposes.</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="362">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="246">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="362">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">OTC Bulletin Board Symbol.</font></p>
                    </td>

                    <td width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="246">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">NNAN</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="362">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="246">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="362">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Risk Factors</font></p>
                    </td>

                    <td width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="246">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">The purchase of common stock involves a high degree of risk.
                        You should carefully review and consider &ldquo;Risk Factors&rdquo;
                        beginning on page 7.</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">6</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 8.5pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 8.5pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">RISK FACTORS</font></b></p>

            <p style="MARGIN-TOP: 8.5pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <b><font size="2">You should carefully consider the following material risk factors as
            well as all other information set forth or referred to in this prospectus before
            purchasing shares of our common stock. Investing in our common stock involves a high
            degree of risk. The Company believes all material risk factors have been presented
            below. If any of the following events or outcomes actually occurs, our business
            operating results and financial condition would likely suffer. As a result, the trading
            price of our common stock could decline, and you may lose all or part of the money you
            paid to purchase our common stock.</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">
            <b><font size="2">Risks Related to our Business</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <i><b><font size="2">We have a limited operating history, and therefore there
            is</font></b></i> <font size="2">&nbsp;</font> <i><b><font size="2">a high risk of
            potential business failure unless we can overcome the various obstacles inherent to a
            development stage business.</font></b></i></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2">We
            are a development stage company with limited prior business operations. Because of our
            limited operating history, you may not have adequate information on which you can base
            an evaluation of our business and prospects. Investors should be aware of the
            difficulties, delays and expenses normally encountered by an enterprise in its
            development stage, many of which are beyond our control, including unanticipated
            research and development expenses, employment costs, and administrative expenses. We
            cannot assure our investors that our proposed business plans as described herein will
            materialize or prove successful, or that we will be able to finalize development of our
            products or operate profitably.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <i><b><font size="2">We have incurred substantial operating losses and have had no
            material revenues since inception (December 22, 2004) and we may never achieve
            profitability.</font></b></i></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2">From
            our inception on December&nbsp;22, 2004 through September 30, 2007, we have incurred
            cumulative losses of $15,810,288. As a result of the start-up nature of our business,
            we expect to sustain substantial expenses before generating significant revenues. There
            can be no assurance that we will achieve profitability in the immediate future or at
            any time.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2">We
            do not expect to generate significant revenues in 2007, during which time we will
            engage primarily in research, development and commercialization efforts for our
            Pleximer product. Our first revenue from the sale of the Pleximer product is expected
            in the fourth quarter of 2007. We do not anticipate revenues sufficient to fund our
            business plan and research programs until late in 2008 at the earliest.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2">We
            project total spending in the year ending December 31, 2007 of approximately $3 million
            (including capital investments of $275,000 and $100,000 in licensing payments to third
            parties). Our cash balance on September 30, 2007 was $1.02 million and our average cash
            burn for the nine month period ended September 30, 2007 was approximately $253,000 per
            month.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <i><b><font size="2">Given our historical financial losses and current financial
            condition,</font></b></i> <font size="2">&nbsp;</font> <i><b><font size="2">we will
            need additional financing to execute our 2008 business plan. Our inability to obtain
            sufficient additional capital could reduce the value the market currently places on our
            common stock.</font></b></i></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2">From
            our inception on December&nbsp;22, 2004 through September 30, 2007, we have incurred
            cumulative losses of $15,810,288. We estimate that the net loss for the twelve month
            period ending December 31, 2007 will be approximately $5,500,000. Our cash burn
            projections indicate that&nbsp;we will have cash available for our business operations
            and research and commercialization efforts only through December 31, 2007. In light of
            this, the Company intends to seek at least $5,000,000 of additional funding to be in
            place by the beginning of 2008. We have no current commitment for such
            future&nbsp;funding and there can be no assurance that additional capital will
            be</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">7</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <font size="2">available on terms acceptable to us, or at all. Selling additional stock
            would dilute the equity interests of our stockholders. Further, if we sell stock at a
            price lower than the conversion price of the Notes held by the selling stockholders,
            the number of shares of our common stock issuable upon conversion of those Notes will
            automatically increase, thereby further diluting the equity interests of our
            stockholders. If we are unable to secure additional capital, we will be forced to
            reduce our investment in development and commercialization efforts, which will impair
            our ability to execute our plans and as a result&nbsp;we may fail.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2">We
            project total research and development spending of approximately $1,878,300 (including
            capital investments of $275,000 and $100,000 in licensing investments) in 2007 and
            $3,354,200 (including capital investments of $1,157,000 and $200,000 in licensing
            investments) in 2008.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <font size="2">Management projects that the Company will have viable saleable products,
            at a level that will generate positive cash flow, by the fourth quarter of 2008.
            Investors should be aware of the increased risks, uncertainties, difficulties and
            expenses we face as a research and development company and that an investment in our
            common stock may become worthless if our business fails.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.04in; TEXT-ALIGN: left">
            <i><b><font size="2">Because our products will generally be components of, or additives
            to, end products sold to our customer&rsquo;s end-users, the commercial viability of
            our products will be tied to the success of our customers&rsquo;
            products.</font></b></i></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2">Our
            products are not designed for direct use by an end-user and virtually all of our
            products will be components of, or additives to, other products. For example, we expect
            that&nbsp;our halloysite based product, Pleximer, will be incorporated into or used as
            an additive in a wide array of end products, produced by our customers, to enhance
            performance and reliability and lower cost. As a result, the market for our products is
            dependent on third parties creating or expanding their end-user products that will
            ultimately utilize our products. If such end-user products are not developed, or the
            market for such improvements to the end-user product diminishes or fails to develop,
            the market for our component product would diminish or collapse. This would limit our
            ability to generate revenues as envisioned in our business plan.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <i><b><font size="2">If we cannot achieve commercial application of our nanoscale
            materials, we may not achieve profitability.</font></b></i></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2">We
            must develop commercial applications for halloysite nanotubes, which we intend to
            develop through joint development agreements in specific market segments in identified
            potential fields of use. If we fail to establish such collaborative relationships or
            if&nbsp;such collaborations&nbsp;are unable to develop sufficiently attractive
            commercial uses for our nanoscale materials or to produce these materials at a
            competitive cost, we may not achieve profitability.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 8.5pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <i><b><font size="2">We may not be able to manage our growth effectively, which could
            slow or prevent our ability to achieve profitability.</font></b></i></p>

            <p style="MARGIN-TOP: 8.5pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2">The
            ability to manage and operate our business as we execute our development and growth
            strategy will require effective planning. Significant rapid growth could strain our
            internal resources and delay or prevent our efforts to achieve profitability. We expect
            that our efforts to grow will place a significant strain on our personnel, management
            systems, infrastructure and other resources. Our ability to manage future growth
            effectively will also require us to successfully attract, train, motivate, retain and
            manage new employees and continue to update and improve our operational, financial and
            management controls and procedures. If we do not manage our growth effectively slower
            growth is likely to occur and thereby slowing or negating our ability to&nbsp;achieve
            and sustain profitability.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <i><b><font size="2">We may not be able to fully</font></b></i>
            <font size="2">&nbsp;</font> <i><b><font size="2">protect our proprietary rights and we
            may infringe the proprietary rights of others which could result in costly
            litigation.</font></b></i></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2">Our
            future success depends on our ability to protect and preserve the proprietary rights
            related to our technology and resulting products. We have the rights to twenty-five
            issued or pending patents relating to processes and technologies and expect to
            continually invest in&nbsp;our intellectual property portfolio through in-house
            development</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">8</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2">and
            through third party licensing and joint venture research. We cannot assure you that we
            will be able to prevent third parties from using our intellectual property rights and
            technology without our authorization. The Company intends to pursue aggressively all
            efforts to obtain patent protection for our technology. The Company also relies on
            trade secrets, common law trademark rights and trademark registrations, as well as
            confidentiality and work for hire, development, assignment and license agreements with
            employees, consultants, third party developers, licensees and customers. Our protective
            measures for these intangible assets afford only limited protection and may be flawed
            or inadequate.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <font size="2">Policing unauthorized use of our technology is difficult and some
            foreign laws do not provide the same level of protection as U.S. laws. Litigation may
            be necessary in the future to enforce our intellectual property rights, to protect our
            trade secrets or patents that we may obtain, or to determine the validity and scope of
            the proprietary rights of others. Such litigation could result in substantial costs and
            diversion of resources and have a material adverse effect on our future operating
            results.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2">In
            recent years, there has been significant litigation in the United States involving
            patents and other intellectual property rights. In particular, there has been an
            increase in the filing of suits alleging infringement of intellectual property rights,
            which pressure defendants into entering settlement arrangements quickly to dispose of
            such suits, regardless of their merits. Other companies or individuals may allege that
            we infringe on their intellectual property rights. Litigation, particularly in the area
            of intellectual property rights, is costly and the outcome is inherently uncertain. In
            the event of an adverse result, we could be liable for substantial damages and we may
            be forced to discontinue our use of the subject matter in question or obtain a license
            to use those rights or develop non-infringing alternatives.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <i><b><font size="2">Our strategy of pursuing</font></b></i>
            <font size="2">&nbsp;</font> <i><b><font size="2">joint development
            agreements</font></b></i> <font size="2">&nbsp;</font> <i><b><font size="2">may not
            lead to</font></b></i> <font size="2">&nbsp;</font> <i><b><font size="2">the
            commercialization of our technologies, which could have a severe negative impact on our
            ability to market our products.</font></b></i></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <font size="2">Leveraging strategic partnerships is&nbsp;a&nbsp;key element of our
            business plan. We plan to achieve product commercialization through joint development
            agreements, as these relationships will help us to validate and expand our technology
            and offer insight into and definition of additional application opportunities and
            develop future sales channels. We intend to continue our development of these strategic
            partnerships with research teams at leading industry manufacturers and suppliers in
            order to develop the manufacturing and marketing efforts that we believe will be
            required to commercialize our products. We currently have three joint development
            agreements. If we are unable to enter into&nbsp;sufficient&nbsp;joint development
            agreements in the future,&nbsp;or if none of our joint development agreements leads to
            a strategic alliance,&nbsp;we may be unable to complete the commercialization of our
            products as effectively as we currently envision.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <i><b><font size="2">The industry in which we operate is highly competitive and has
            relatively low barriers to entry. Increased competition could result in margin erosion,
            which would make profitability even more difficult to achieve and
            sustain.</font></b></i></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2">We
            expect that our future product offerings will provide new capabilities and superior
            performance compared to existing materials. However, many of our current and
            prospective competitors are larger and have greater financial resources, which could
            create significant competitive advantages for those companies. Our future success
            depends on our ability to compete effectively with other manufacturers of material
            additives that may have internal development programs. As a result, we may have
            difficulty competing with larger, established competitor companies. Generally, these
            competitors have:</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td valign="top" width="76">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="20">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b>&bull;</b></p>
                    </td>

                    <td valign="top" width="528">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">substantially greater financial, technical and marketing
                        resources;</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="76">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="20">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b>&bull;</b></p>
                    </td>

                    <td valign="top" width="528">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">larger customer bases;</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="76">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="20">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b>&bull;</b></p>
                    </td>

                    <td valign="top" width="528">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">better name recognition; and</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="76">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="20">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b>&bull;</b></p>
                    </td>

                    <td valign="top" width="528">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">potentially more expansive product offerings.</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">9</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2">Many
            existing and potential competitors have greater financial resources and are likely to
            command a larger market share, which may enable them to establish a stronger
            competitive position than we may have, in part through greater marketing opportunities.
            If we fail to address competitive developments quickly and effectively, we may not be
            able to remain a viable entity.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <i><b><font size="2">Our business could be negatively affected by any adverse economic
            developments in the advanced materials industry and/or the economy in
            general.</font></b></i></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2">We
            depend on the demand for the application of our technology and nanoscale materials and
            as such our business is susceptible to downturns in the advanced materials industry and
            the economy in general. Any significant downturn in the market or in general economic
            conditions would likely result in additional investments in research and marketing and
            thereby increase our costs to bring our products to market.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 8.5pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <i><b><font size="2">Our future success depends on retaining our existing key employees
            and hiring and assimilating new key employees. The loss of key employees or the
            inability to attract new key employees could limit our ability to execute our growth
            strategy, resulting in lost sales and a slower rate of growth.</font></b></i></p>

            <p style="MARGIN-TOP: 8.5pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2">Our
            success depends in part on our ability to retain key employees including our executive
            officers. Although we have certain employment agreements in effect with our executives,
            each executive can terminate his or her agreement generally with 90 days notice. It
            would be difficult for us to replace any one of these individuals. In addition, as we
            grow we&nbsp;will need to hire additional key personnel. We may not be able to identify
            and attract high quality employees or successfully assimilate new employees into our
            existing management structure.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <i><b><font size="2">Because we have filled, and intend in the future to fill, certain
            of our human resource needs with part-time consultants in lieu of hiring full-time
            employees, we may increase risks associated with the protection of our intellectual
            property, inhibit our ability to access the best talent, and potentially impair our
            ability to monitor the progress of our research and development
            projects.</font></b></i></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2">In
            an effort to contain operating costs and conserve our cash resources, we have employed,
            from time to time, part-time consultants in lieu of immediately hiring full-time
            employees in certain administrative and technical positions, and we intend to continue
            this practice. In a&nbsp; number of these instances, the part-time consultant has
            transitioned into full-time employment with the Company. The use of part-time
            consultants increases the risk of improper and unauthorized access to intellectual
            property and confidential technical information, even though we enter into
            non-disclosure and technology transfer agreements with all of our
            consultants.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2">The
            use of part-time consultants can also limit the range of personnel available to us, as
            many well-qualified prospective employees will decline offers of part-time
            consultancy.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <i><b><font size="2">We are controlled by a single majority stockholder, and our
            minority stockholders will be unable to effect changes in our governance structure or
            implement actions that require stockholder approval, such as a sale of the
            Company.</font></b></i></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <font size="2">Technology Innovations, LLC beneficially owns a majority of the
            outstanding shares of our common stock. Technology Innovations has the ability to
            control various corporate decisions, including our direction and policies, the election
            of our entire Board of Directors, the content of our charter and bylaws, and the
            outcome of any other matter requiring stockholder approval, including&nbsp;a merger,
            consolidation, sale of substantially all of our assets or other change of control
            transaction. The consent of our minority stockholders will not be required for any of
            these decisions.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">10</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <i><b><font size="2">There may be conflicts of interest between us and our parent and
            majority stockholder.</font></b></i></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <font size="2">Because of the nature of our business and the businesses of other
            entities in which Technology Innovations, our parent and majority
            stockholder,&nbsp;holds, or may in the future acquire, an ownership interest, the
            relationship of Technology Innovations with these other entities may give rise to
            conflicts of interest with respect to certain matters affecting us.&nbsp;Potential
            conflicts may not always be resolved in a manner that is favorable to us. We believe it
            is impossible to predict the precise circumstances under which future potential
            conflicts may arise and therefore intend to address potential conflicts on a
            case-by-case basis. Under Nevada law, directors have a fiduciary duty to act in good
            faith and with a view to the best interests of the corporation. Our disinterested Board
            members will make all determinations and decisions relating to Technology Innovations
            and other affiliates as they may arise, but because actions by our Board are subject to
            reversal by direct or indirect stockholder action, and Technology Innovations, as the
            holder of approximately 56.8% of our outstanding common stock as of September 28, 2007,
            has effective voting control, decisions by our disinterested Board members adverse to
            the interests of Technology Innovations will be subject, in certain circumstances, to
            reversal by Technology Innovations.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <b><font size="2">Risks Related to Our Common Stock</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <i><b><font size="2">We have a history of operating losses and expect to report future
            losses that may cause our stock price to decline.</font></b></i></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2">For
            the operating period since inception (December&nbsp;22, 2004) through&nbsp;September
            30, 2007, we have incurred a net cumulative loss of $15,810,288. We expect to continue
            to incur losses as we spend additional capital to develop and market our technologies
            and establish our infrastructure and organization to support anticipated
            operations.&nbsp;We estimate that our net loss for the year ending December 31, 2007
            will be approximately&nbsp;$5,500,000.&nbsp;We cannot be certain whether we will ever
            earn a significant amount of revenues or profit, or if we do, that we will be able to
            continue earning such revenues or profit. Also, any economic weakness or global
            recession may limit our ability to develop and ultimately market our technologies. Any
            of these factors could cause our stock price to decline and result in you losing a
            portion or all of your investment.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="607" border="0">
                <tr>
                    <td valign="top" width="607">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <i><b><font size="2">We</font></b></i> <font size="2">&nbsp;</font>
                        <i><b><font size="2">will need to raise additional capital. If we are
                        unable to raise additional capital, our business may
                        fail.</font></b></i></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <font size="2">Because we are a development stage company and have no material
            revenues, we need to secure on-going funding. The private placement of 8% Senior
            Secured Convertible Notes provided working capital proceeds of $3,132,500 in the first
            quarter of 2007,&nbsp;but we believe that such funds will not be sufficient to carry
            out all of&nbsp;our plans and to fund our operating losses until we are able to
            generate enough revenues to sustain our business at our current cash burn rate after
            December 31, 2007. If we are unable to obtain adequate additional financing, we may not
            be able to successfully develop and market our products and our business will most
            likely fail. To secure additional financing, we may need to borrow money or sell more
            securities. Under these circumstances, we may be unable to secure additional financing
            on favorable terms or at all. Selling additional stock, either privately or publicly,
            would dilute the equity interests of our stockholders. If we borrow money, we will have
            to pay interest and may also have to agree to restrictions that limit our operating
            flexibility. If we are unable to obtain adequate financing, we may have to curtail
            business operations which would have a material negative effect on operating results
            and most likely result in a lower stock price.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">11</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <i><b><font size="2">Our common stock has experienced in the past, and is expected to
            experience in the future, significant price and volume volatility, which substantially
            increases the risk that you may not be able to sell your shares at or above the price
            that you pay for the shares.</font></b></i></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <font size="2">Certain factors, some of which are beyond our control, that may cause
            our share price to fluctuate significantly include, but are not limited to, the
            following:</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="620" border="0">
                <tr>
                    <td valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="18">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b>&bull;</b></p>
                    </td>

                    <td valign="top" width="524">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">variations in our quarterly operating results;</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="18">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b>&bull;</b></p>
                    </td>

                    <td valign="top" width="524">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">our ability to complete the research and development of our
                        technologies;</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="18">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b>&bull;</b></p>
                    </td>

                    <td valign="top" width="524">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">the development of a future market for our
                        products;</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="18">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b>&bull;</b></p>
                    </td>

                    <td valign="top" width="524">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">changes in market valuations of similar
                        companies;</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="18">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b>&bull;</b></p>
                    </td>

                    <td valign="top" width="524">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">announcement by us or our competitors of significant
                        contracts, acquisitions, strategic partnerships, joint ventures or capital
                        commitments;</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="18">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b>&bull;</b></p>
                    </td>

                    <td valign="top" width="524">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">additions or departures of key personnel; and</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="18">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b>&bull;</b></p>
                    </td>

                    <td valign="top" width="524">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">fluctuations in stock market price and volume.</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <font size="2">Additionally, in recent years the stock market in general, and the
            Over-the-Counter Bulletin Board and technology stocks in particular, have experienced
            extreme price and volume fluctuations. In some cases these fluctuations are unrelated
            or disproportionate to the operating performance of the underlying company. These
            market and industry factors may materially and adversely affect our stock price
            regardless of our operating performance. The historical trading of our common stock is
            not necessarily an indicator of how it will trade in the future and our trading price
            as of the date of this prospectus is not necessarily an indicator of what the trading
            price of our common stock might be in the future. In the past, class action litigation
            has often been brought against companies following periods of volatility in the market
            price of those companies&rsquo; common stock. If we become involved in this type of
            litigation in the future it could result in substantial costs and diversion of
            management attention and resources, which could have a further negative effect on your
            investment in our stock.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.05in; TEXT-ALIGN: left">
            <i><b><font size="2">Our issuance of common stock at a price below prevailing trading
            prices at the time of issuance may cause our stock price to decline.</font></b></i></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2">As
            of December 10, 2007&nbsp;there were outstanding options to
            purchase&nbsp;18,479,000&nbsp;shares of our common stock, with exercise prices ranging
            from $0.05 to $1.44 per share with a weighted average exercise price of $0.20 per
            share. Our 8% Senior Secured Convertible&nbsp;Notes are convertible&nbsp;into&nbsp;an
            additional 15,215,910 shares of common stock, at an exercise price of $0.22 per share.
            Also outstanding on December 10, 2007, were warrants for the purchase of 30,316,995
            shares of our common stock, having exercise prices ranging from $0.22 to $1.01 per
            share with a weighted average exercise price of $0.35 per share. These options,
            convertible notes&nbsp;and warrants, as well as other&nbsp;convertible
            securities&nbsp;that we may issue in the future, may&nbsp;result in shares being issued
            for consideration that is less than the trading price of our common stock at the time
            the shares are issued. We may also issue shares in the future at&nbsp;a discount to the
            trading price of our common stock. Any such below market issuances, or the potential
            for such issuances, could cause our stock price to decline.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <i><b><font size="2">Shares of our common stock may be subject to price illiquidity and
            volatility because our shares may continue to be thinly traded and may never become
            eligible for trading on Nasdaq or a national securities exchange.</font></b></i></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <font size="2">Although a trading market for our common stock exists, the trading
            volume has not been significant and an active trading market for our common stock may
            never develop. There currently is no analyst coverage of our business.
            Because&nbsp;69,303,189 shares are held by our corporate parent, an additional
            1,834,565 outstanding shares are beneficially owned by&nbsp;our officers and
            directors&nbsp;and a further 274,700 shares are otherwise not freely tradable because
            they were issued without registration under the Securities Act of 1933 and are not yet
            eligible for resale without restriction under Rule 144(k), the number of our shares
            currently available in the market is 51,468,286.&nbsp;During the period from November
            29, 2005 through September 30, 2007, the average daily trading volume of our common
            stock was approximately 54,000 shares (or approximately 0.16% of the&nbsp;shares
            currently</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">12</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <font size="2">available in the market).&nbsp;The trading volume of our shares will
            continue to be limited due to resale restrictions under applicable securities laws and
            the fact that&nbsp;approximately 56.8%&nbsp;of our outstanding shares are held by our
            officers, directors or our&nbsp;parent and majority&nbsp;stockholder. As a result of
            the thin trading market for our common stock and the lack of analyst coverage, the
            market price for our shares may continue to fluctuate significantly and will likely be
            more volatile than the stock market as a whole. There may be a limited demand for
            shares of our common stock due to the reluctance or inability of certain investors to
            buy stocks quoted for trading on the OTC Bulletin Board, lack of analyst coverage of
            our common stock, and a negative perception by investors of stocks traded on the OTC
            Bulletin Board. As a result, even if prices appear favorable, there may not be
            sufficient demand to complete a stockholder&rsquo;s sell order. Without an active
            public trading market or broader public ownership, shares of our common stock are
            likely to be less liquid than the stock of most public companies, and any of our
            stockholders who attempt to sell their shares in any significant volumes may not be
            able to do so at all, or without depressing the publicly quoted bid prices for our
            shares.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 8.5pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <font size="2">While we may at some point be able to meet the requirements necessary
            for our common stock to be listed on the Nasdaq stock market or on another national
            securities exchange, we cannot assure you that we will ever achieve such a listing.
            Listing on one of the Nasdaq markets or one of the national securities exchanges is
            subject to a variety of requirements, including minimum trading price and minimum
            public &ldquo;float&rdquo; requirements, and could also be affected by the general
            skepticism of such markets concerning companies, such as us,&nbsp;that are the result
            of mergers with inactive publicly-held companies. There are also continuing eligibility
            requirements for companies listed on national securities exchanges. If we are unable to
            satisfy the initial or continuing eligibility requirements of any such market, then our
            stock may not be listed or could be delisted. This could result in a lower trading
            price for our common stock and may limit your ability to sell your shares, which could
            result in you losing some or all of your investments.</font></p>

            <p style="MARGIN-TOP: 8.5pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <i><b><font size="2">The so-called &ldquo;penny stock rule&rdquo; makes it cumbersome
            for brokers and dealers to trade in our common stock, making the market for our common
            stock less liquid which could cause the price of our stock to
            decline.</font></b></i></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <font size="2">Trading of our common stock on the OTC Bulletin Board&nbsp;is subject to
            certain provisions of the Securities Exchange Act of 1934, commonly referred to as the
            &ldquo;penny stock&rdquo; rule. A penny stock is generally defined to be any equity
            security that has a market price less than $5.00 per share, subject to certain
            exceptions. Because our common stock has historically traded below $5.00 per share, it
            is deemed to be a penny stock, and consequently trading in our stock is subject to
            additional sales practice requirements on broker-dealers.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <font size="2">These require a broker-dealer to:</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="624" border="0">
                <tr>
                    <td valign="top" width="42">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="20">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b>&bull;</b></p>
                    </td>

                    <td valign="top" width="562">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">make a special suitability determination for purchasers of
                        our shares;</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="42">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="20">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b>&bull;</b></p>
                    </td>

                    <td valign="top" width="562">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">receive the purchaser&rsquo;s written consent to the
                        transaction prior to the purchase; and</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="42">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="20">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b>&bull;</b></p>
                    </td>

                    <td valign="top" width="562">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">deliver to a prospective purchaser of our stock, prior to
                        the first transaction, a risk disclosure document relating to the penny
                        stock market.</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <font size="2">Consequently, the penny stock rules restrict the ability of
            broker-dealers to trade and/or maintain a market in our common stock. Also, prospective
            investors may not want to get involved with the additional administrative requirements
            which may have a material adverse effect on the trading of our shares.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <i><b><font size="2">The authorization and issuance of preferred stock may prevent or
            discourage a change in our management.</font></b></i></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.05in; TEXT-ALIGN: left">
            <font size="2">Our Articles of Incorporation authorize the Board of Directors to issue
            up to 10,000,000 shares of preferred stock without stockholder approval. Such shares
            will have terms, conditions, rights, preferences and designations as the Board may
            determine at the time of issuance. The rights of the holders of our common stock will
            be subject to, and may be adversely affected by, the rights of the holders of any
            preferred stock that may be issued in the future. The issuance of preferred stock,
            while providing desirable flexibility in connection with possible acquisitions and
            other</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">13</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">
            <font size="2">corporate purposes, could have the effect of discouraging a person from
            acquiring a majority of our outstanding common stock.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 8.5pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <i><b><font size="2">Certain provisions of Nevada law and of our corporate charter may
            inhibit a potential acquisition of us, and this could depress our stock</font></b></i>
            <font size="2">&nbsp;</font> <i><b><font size="2">price.</font></b></i></p>

            <p style="MARGIN-TOP: 8.5pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <font size="2">Nevada corporate law includes provisions that could delay, defer or
            prevent a change in control of our company or our management. These provisions could
            discourage information contests and make it more difficult for you and other
            stockholders to elect directors and take other corporate actions. As a result, these
            provisions could limit the price that investors are willing to pay in the future for
            shares of our common stock. For example:</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td valign="top" width="39">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="47">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">(i)</font></p>
                    </td>

                    <td valign="top" width="538">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">without prior stockholder approval, the Board of Directors
                        has the authority to issue one or more classes of preferred stock with
                        rights senior to those of common stock and to determine the rights,
                        privileges and inference of that preferred stock;</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="39">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="47">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">(ii)</font></p>
                    </td>

                    <td valign="top" width="538">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">there is no cumulative voting in the election of directors,
                        which would otherwise allow less than a majority of stockholders to elect
                        director candidates; and</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="39">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="47">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">(iii)</font></p>
                    </td>

                    <td valign="top" width="538">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">stockholders cannot call a special meeting of
                        stockholders.</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">14</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS</font></b></p>

            <p style="MARGIN-TOP: 11.25pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.57in; TEXT-ALIGN: justify">
            <font size="2">This prospectus contains forward-looking statements. All statements
            other than statements of historical facts contained in this prospectus, including
            statements regarding our future results of operations and financial position, business
            strategy and plans and objectives of management for future operations, are
            forward-looking statements. These statements involve known and unknown risks,
            uncertainties and other factors that may cause our actual results, performance or
            achievements to be materially different from any future results, performance or
            achievements expressed or implied by the forward-looking statements.</font></p>

            <p style="MARGIN-TOP: 11.25pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.57in; TEXT-ALIGN: justify">
            <font size="2">In some cases, you can identify forward-looking statements by terms such
            as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends,"
            "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential"
            or "continue" or the negative of these terms or other similar words. These statements
            are only predictions. We have based these forward-looking statements largely on our
            current expectations and projections about future events and financial trends that we
            believe may affect our business, financial condition and results of operations. We
            discuss many of the risks in greater detail under the heading "Risk Factors." Also,
            these forward-looking statements represent our estimates and assumptions only as of the
            date of this prospectus. Except as required by law, we assume no obligation to update
            any forward-looking statements after the date of this prospectus.</font></p>

            <p style="MARGIN-TOP: 11.25pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.57in; TEXT-ALIGN: justify">
            <font size="2">This prospectus also contains estimates and other statistical data made
            by independent parties and by us relating to market size and growth and other industry
            data. This data involves a number of assumptions and limitations, and you are cautioned
            not to give undue weight to such estimates. We have not independently verified the
            statistical and other industry data generated by independent parties and contained in
            this prospectus and, accordingly, we cannot guarantee their accuracy or completeness.
            In addition, projections, assumptions and estimates of our future performance and the
            future performance of the industries in which we operate are necessarily subject to a
            high degree of uncertainty and risk due to a variety of factors, including those
            described in "Risk Factors," "Management's Discussion and Analysis of Financial
            Condition and Results of Operation" and elsewhere in this prospectus. These and other
            factors could cause results to differ materially from those expressed in the estimates
            made by the independent parties and by us.</font></p>

            <p style="MARGIN-TOP: 11.25pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">DETERMINATION OF OFFERING PRICE</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">The selling security holders may sell the common shares issued to them
            from time-to-time at prices and at terms then prevailing or at prices related to the
            then current market price, or in negotiated transactions.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">USE OF PROCEEDS</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">This prospectus relates to sale of shares of common stock issuable upon
            exercise of currently outstanding stock options that may be offered and sold from time
            to time by the selling stockholders. We will receive the exercise price from the sale
            of shares to the selling stockholders when, and if, such selling stockholders exercise
            their stock options. Any proceeds received by us from the exercise of such stock
            options will be used for general working capital purposes.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">15</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">SELLING STOCKHOLDERS</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">The selling shareholders named in this prospectus (the "Selling
            Shareholders") are offering all of the 17,000,000 shares offered through this
            prospectus pursuant to the exercise of stock options granted to the selling
            shareholders pursuant to our Amended and Restated</font><font size="2">2007 Incentive
            Stock Plan.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">A total of 17,000,000 shares of common stock have been reserved for
            issuance under all awards that may be granted under our Amended and
            Restated</font><font size="2">2007 Incentive Stock Plan.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">If, subsequent to the date of this reoffer prospectus, we grant any
            further awards under the Amended and Restated</font><font size="2">2007 Incentive Stock
            Plan, to any eligible participants who are affiliates of our company (as defined in
            Rule 405 under the Securities Act), Instruction C of Form S-8 requires that we
            supplement this reoffer prospectus with the names of such affiliates and the amounts of
            securities to be reoffered by them as selling stockholders.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">The following table provides, as of December 14, 2007 information
            regarding the beneficial ownership of our common shares held by each of the selling
            shareholders, including:</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td valign="top" width="73">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 0.54%; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="25">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">1.</font></p>
                    </td>

                    <td valign="top" width="525">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">the number of common shares owned by each selling
                        shareholder prior to this offering;</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td valign="top" width="73">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 0.54%; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="25">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">2.</font></p>
                    </td>

                    <td valign="top" width="525">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">the total number of common shares that are to be offered by
                        each selling shareholder;</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td valign="top" width="73">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="25">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">3.</font></p>
                    </td>

                    <td valign="top" width="525">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">the total number of common shares that will be owned by each
                        selling shareholder upon completion of the offering; and</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td valign="top" width="73">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="25">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">4.</font></p>
                    </td>

                    <td valign="top" width="525">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">the percentage owned by each selling shareholder.</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">Information with respect to beneficial ownership is based upon
            information obtained from the selling shareholders. Information with respect to "Shares
            Beneficially Owned Prior to the Offering" includes the shares issuable upon exercise of
            the stock options held by the selling shareholders to the extent these options are
            exercisable within 60 days of December 14, 2007. The "Number of Shares Being Offered"
            includes the common shares that may be acquired by the selling shareholders pursuant to
            the exercise of stock options granted to the selling shareholders pursuant to our
            Amended and Restated</font><font size="2">2007 Incentive Stock Plan. Information with
            respect to "Shares Beneficially Owned After the Offering" assumes the sale of all of
            the common shares offered by this prospectus and no other purchases or sales of our
            common shares by the selling shareholders. Except as described below and to our
            knowledge, the named selling shareholder beneficially owns and has sole voting and
            investment power over all common shares or rights to these common shares.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">16</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">Because the selling shareholders may offer all or part of the common
            shares currently owned or the common shares received upon exercise of the options,
            which they own pursuant to the offering contemplated by this reoffer prospectus, and
            because its offering is not being underwritten on a firm commitment basis, no estimate
            can be given as to the amount of options that will be held upon termination of this
            offering. The common shares currently owned and the common shares received upon
            exercise of the options offered by this reoffer prospectus may be offered from time to
            time by the selling shareholders named below.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="MARGIN-LEFT: 4.65pt; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="619" border="0">
                <tr style="HEIGHT: 12.75pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="195">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16" rowspan="2">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>

                    <td style="BORDER-RIGHT: gray; PADDING-RIGHT: 5.4pt; BORDER-TOP: gray; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: gray; PADDING-TOP: 0in; BORDER-BOTTOM: gray 1pt solid; HEIGHT: 12.75pt" valign="top" colspan="2" rowspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="1">Shares Beneficially Owned Prior to this Offering
                        (1)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 12.75pt" valign="top" width="88" rowspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="1">Shares Being Offered (3)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16" rowspan="2">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 12.75pt" valign="top" colspan="2" rowspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="1">Shares Beneficially Owned upon Completion of the Offering
                        (1)</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 13.5pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 13.5pt" valign="top" width="195">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="1">Name and title</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 13.5pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 13.5pt" valign="top" width="195">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 13.5pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 13.5pt" valign="top" width="86">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="1">Number</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 13.5pt" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="1">Percent (2)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 13.5pt" valign="top" width="88">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="1">Number</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 13.5pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 13.5pt" valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="1">&nbsp;Number</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 13.5pt" valign="top" width="80">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="1">Percent (2)</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 12.75pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="195">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="1">Cathy A. Fleischer (4)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="86">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">1,913,333</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">1.5%</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="88">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">1,200,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">713,333</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="80">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 12.75pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="195">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="1">Kent A. Tapper</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="86">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">750,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="88">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">750,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">-</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="80">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 12.75pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="195">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="1">Kathleen A. Browne (5)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="86">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">500,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="88">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">200,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">300,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="80">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 12.75pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="195">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="1">Dina Borik (6)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="86">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">63,334</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="88">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">50,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">13,334</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="80">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 12.75pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="195">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="1">Bryan D. Boscia (7)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="86">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">158,333</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="88">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">150,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">8,333</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="80">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 12.75pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="195">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="1">Jeffrey Cole</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="86">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">100,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="88">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">100,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">-</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="80">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 12.75pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="195">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="1">Robert Corkery (8)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="86">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">160,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="88">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">130,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">30,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="80">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 12.75pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="195">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="1">Robert Daly (9)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="86">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">525,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="88">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">500,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">25,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="80">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 12.75pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="195">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="1">Emmanuel Giannelis (10)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="86">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">160,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="88">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">130,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">30,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="80">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 12.75pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="195">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="1">Carolyn Hotchkiss (11)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="86">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">60,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="88">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">10,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">50,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="80">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 12.75pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="195">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="1">Doug Kelley</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="86">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">300,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="88">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">300,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">-</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="80">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 12.75pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="195">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="1">Paul LeFrois (12)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="86">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">594,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="88">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">400,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">194,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="80">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 12.75pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="195">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="1">Robert Kress (13)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="86">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">316,667</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="88">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">300,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">16,667</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="80">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 12.75pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="195">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="1">Melissa Mahler (14)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="86">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">2508,500</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">2.0%</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="88">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">1,000,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">1,508,500</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="80">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">1.2%</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 12.75pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="195">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="1">Ninetta McDonald (15)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="86">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">75,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="88">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">25,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">50,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="80">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 12.75pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="195">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="1">Gregory Sichenzia</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="86">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">541,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="88">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">360,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">181,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="80">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 12.75pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="195">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="1">Aaron Wagner (16)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="86">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">1,200,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">1.0%</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="88">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">1,000,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">200,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 12.75pt" valign="top" width="80">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">*</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 13.5pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 13.5pt" valign="top" width="195">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 13.5pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 13.5pt" valign="top" width="86">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 13.5pt" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 13.5pt" valign="top" width="88">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 13.5pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 13.5pt" valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 13.5pt" valign="top" width="80">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr style="HEIGHT: 23.25pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 23.25pt" valign="top" width="195">
                        <p style="MARGIN-TOP: 1.5pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="1">All Officers, Consultants and Employees as a Group
                        (seventeen persons)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 23.25pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 1.5pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 2.25pt double; HEIGHT: 23.25pt" valign="top" width="86">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">9,925,167</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 2.25pt double; HEIGHT: 23.25pt" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">7.5%</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 2.25pt double; HEIGHT: 23.25pt" valign="top" width="88">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">6,605,000</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 23.25pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 1.5pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 2.25pt double; HEIGHT: 23.25pt" valign="top" width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">3,320,167</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 2.25pt double; HEIGHT: 23.25pt" valign="top" width="80">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="1">2.5%</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="143" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">*</font></p>
                    </td>

                    <td valign="top" width="95">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Less than 1%.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 11.25pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">(1)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">The number and percentage of shares beneficially owned is
                        determined in accordance with Rule 13d-3 of the Securities Exchange Act of
                        1934, as amended, and the information is not necessarily indicative of
                        beneficial ownership for any other purpose. Under such rule, beneficial
                        ownership includes any shares as to which the selling shareholder has sole
                        or shared voting power or investment power and also any shares, which the
                        selling shareholder has the right to acquire within 60 days.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 11.25pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">(2)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Based upon 122,880,740 shares of common stock issued and
                        outstanding as of December 14, 2007.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 11.25pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">(3)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Represents options to purchase shares of our common stock
                        issued under our Amended and Restated 2007 Incentive Stock Plan.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 11.25pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">(4)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Includes options to purchase 713,333 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 11.25pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">(5)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Includes options to purchase 300,000 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan.</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">17</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 11.25pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">(6)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Includes options to purchase 13,334 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 11.25pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">(7)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Includes options to purchase 8,333 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 11.25pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">(8)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Includes options to purchase 30,000 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 11.25pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">(9)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Includes options to purchase 25,000 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 11.25pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">(10)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Includes options to purchase 30,000 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 11.25pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">(11)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Includes options to purchase 50,000 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 11.25pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">(12)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Includes options to purchase 194,000 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 11.25pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">(13)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Includes options to purchase 16,667 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 11.25pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">(14)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Includes options to purchase 1,320,000 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan held by Ms.
                        Mahler&rsquo;s spouse, Michael Duffy, for which Ms. Mahler disclaims
                        ownership.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 11.25pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">(15)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Includes options to purchase 50,000 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 11.25pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">(16)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 11.25pt" valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Includes options to purchase 200,000 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan.</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <b><font size="2">Since our company does not currently meet the registrant requirements
            for use of Form S-3, the amount of common shares which may be resold by means of this
            reoffer prospectus by each of the selling stockholders, and any other person with whom
            he or she is acting in concert for the purpose of selling securities of our company,
            must not exceed, in any three month period, the amount specified in Rule 144(e)
            promulgated under the Securities Act.</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">18</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">PLAN OF DISTRIBUTION</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <b><font size="2">Timing of Sales</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">Under our Amended and Restated</font><font size="2">2007 Incentive Stock
            Plan (the &ldquo;Plan&rdquo;), we are authorized to issue up to 17,000,000 shares of
            our common stock.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">Subject to the foregoing, the selling stockholders may offer and sell
            the shares covered by this prospectus at various times. The selling stockholders may
            offer and sell the shares covered by this prospectus at various times. The selling
            stockholders will act independently of our company in making decisions with respect to
            the timing, manner and size of each sale.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <b><font size="2">No Known Agreements to Resell the Shares</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">To our knowledge, no selling stockholder has any agreement or
            understanding, directly or indirectly, with any person to resell the common shares
            covered by this prospectus.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <b><font size="2">Offering Price</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">The sales price offered by the selling stockholders to the public may
            be: &nbsp;</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td valign="top" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="2">1.&nbsp;&nbsp;</font></p>
                    </td>

                    <td valign="top" width="527">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">the market price prevailing at the time of sale;</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td valign="top" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="2">2.&nbsp;&nbsp;</font></p>
                    </td>

                    <td valign="top" width="527">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">a price related to such prevailing market price;
                        or</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td valign="top" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="2">3.&nbsp;&nbsp;</font></p>
                    </td>

                    <td valign="top" width="527">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">such other price as the selling shareholders determine from
                        time to time.</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <b><font size="2">Manner of Sale</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">The common shares may be sold by means of one or more of the following
            methods: &nbsp;</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td valign="top" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="2">1.&nbsp;&nbsp;</font></p>
                    </td>

                    <td valign="top" width="527">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">a block trade in which the broker-dealer so engaged will
                        attempt to sell the common shares as agent, but may position and resell a
                        portion of the block as principal to facilitate the transaction;</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td valign="top" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="2">2.&nbsp;&nbsp;</font></p>
                    </td>

                    <td valign="top" width="527">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Purchases by a broker-dealer as principal and resale by that
                        broker-dealer for its account pursuant to this prospectus;</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td valign="top" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="2">3.&nbsp;&nbsp;</font></p>
                    </td>

                    <td valign="top" width="527">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">ordinary brokerage transactions in which the broker solicits
                        purchasers;</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td valign="top" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="2">4.&nbsp;&nbsp;</font></p>
                    </td>

                    <td valign="top" width="527">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">through options, swaps or derivatives;</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td valign="top" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="2">5.&nbsp;&nbsp;</font></p>
                    </td>

                    <td valign="top" width="527">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">in transactions to cover short sales;</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td valign="top" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="2">6.&nbsp;&nbsp;</font></p>
                    </td>

                    <td valign="top" width="527">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">privately negotiated transactions; or</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td valign="top" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="2">7.&nbsp;&nbsp;</font></p>
                    </td>

                    <td valign="top" width="527">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">in a combination of any of the above methods.</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">The selling shareholders may sell their common shares directly to
            purchasers or may use brokers, dealers, underwriters or agents to sell their common
            shares. Brokers or dealers engaged by the selling shareholders may arrange for other
            brokers or dealers to participate. Brokers or dealers may receive commissions,
            discounts or concessions from the selling shareholders, or, if any such broker-dealer
            acts as agent for the purchaser of common shares, from the purchaser in amounts to be
            negotiated immediately prior to the sale. The compensation received by brokers or
            dealers may, but is not expected to, exceed that which is customary for the types of
            transactions involved.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">19</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">Broker-dealers may agree with a selling shareholder to sell a specified
            number of common shares at a stipulated price per common share, and, to the extent the
            broker-dealer is unable to do so acting as agent for a selling shareholder, to purchase
            as principal any unsold common shares at the price required to fulfill the
            broker-dealer commitment to the selling shareholder.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">Broker-dealers who acquire common shares as principal may thereafter
            resell the common shares from time to time in transactions, which may involve block
            transactions and sales to and through other broker-dealers, including transactions of
            the nature described above, in the over-the-counter market or otherwise at prices and
            on terms then prevailing at the time of sale, at prices then related to the
            then-current market price or in negotiated transactions. In connection with resales of
            the common shares, broker-dealers may pay to or receive from the purchasers of shares
            commissions as described above. &nbsp; &nbsp; &nbsp; &nbsp;</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">If our selling shareholders enter into arrangements with brokers or
            dealers, as described above, we are obligated to file a post-effective amendment to
            this registration statement disclosing such arrangements, including the names of any
            broker-dealers acting as underwriters.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">The selling shareholders and any broker-dealers or agents that
            participate with the selling shareholders in the sale of the common shares may be
            deemed to be "underwriters" within the meaning of the Securities Act. In that event,
            any commissions received by broker-dealers or agents and any profit on the resale of
            the common shares purchased by them may be deemed to be underwriting commissions or
            discounts under the Securities Act.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <b><font size="2">Sales Pursuant to Rule 144</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">Any common shares covered by this prospectus which qualify for sale
            pursuant to Rule 144 under the Securities Act may be sold under Rule 144 rather than
            pursuant to this prospectus.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">Accordingly, during such times as a selling shareholder may be deemed to
            be engaged in a distribution of the common stock, and therefore be considered to be an
            underwriter, the selling shareholder must comply with applicable law and, among other
            things: &nbsp;</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td valign="top" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="2">1.&nbsp;&nbsp;</font></p>
                    </td>

                    <td valign="top" width="527">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">may not engage in any stabilization activities in connection
                        with our common stock;</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td valign="top" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="2">2.&nbsp;&nbsp;</font></p>
                    </td>

                    <td valign="top" width="527">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">may not cover short sales by purchasing shares while the
                        distribution is taking place; and</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td valign="top" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="2">3.&nbsp;&nbsp;</font></p>
                    </td>

                    <td valign="top" width="527">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">may not bid for or purchase any of our securities or attempt
                        to induce any person to purchase any of our securities other than as
                        permitted under the Exchange Act.</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">In addition, we will make copies of this prospectus available to the
            selling shareholders for the purpose of satisfying the prospectus delivery requirements
            of the Securities Act.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <b><font size="2">Penny Stock Rules</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">The SEC has adopted regulations which generally define "penny stock" to
            be any equity security that has a market price (as defined) of less than $5.00 per
            share or an exercise price of less than $5.00 per share, subject to certain exceptions.
            Our securities are covered by the penny stock rules, which impose additional sales
            practice requirements on broker-dealers who sell to persons other than established
            customers and "institutional accredited investors." The term "institutional accredited
            investor" refers generally to those accredited investors who are not natural persons
            and fall into one of the categories of accredited investor specified in subparagraphs
            (1), (2), (3), (7) or (8) of Rule&nbsp;501 of Regulation&nbsp;D promulgated under the
            Securities Act, including institutions with assets in excess of $5,000,000.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">The penny stock rules require a broker-dealer, prior to a transaction in
            a penny stock not otherwise exempt from the rules, to deliver a standardized risk
            disclosure document in a form required by the Securities and Exchange Commission,
            obtain from the customer a signed and dated acknowledgement of receipt of the
            disclosure document</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">20</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2">and
            to wait two business days before effecting the transaction. The risk disclosure
            document provides information about penny stocks and the nature and level of risks in
            the penny stock market. The broker-dealer also must provide the customer with current
            bid and offer quotations for the penny stock, the compensation of the broker-dealer and
            its salesperson in the transaction and monthly account statements showing the market
            value of each penny stock held in the customer's account.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">The bid and offer quotations, and the broker-dealer and salesperson
            compensation information, must be given to the customer orally or in writing prior to
            effecting the transaction and must be given to the customer in writing before or with
            the customer's confirmation. In addition, the penny stock rules require that prior to a
            transaction in a penny stock not otherwise exempt from these rules, the broker-dealer
            must make a special written determination that the penny stock is a suitable investment
            for the purchaser and receive the purchaser's written agreement to the
            transaction.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">These disclosure requirements may have the effect of reducing the level
            of trading activity in the secondary market for the stock that is subject to these
            penny stock rules. Consequently, these penny stock rules may affect the ability of
            broker-dealers to trade our securities. We believe that the penny stock rules
            discourage investor interest in and limit the marketability of our common
            stock.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <b><font size="2">State Securities Laws</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">Under the securities laws of some states, the common shares may be sold
            in such states only through registered or licensed brokers or dealers. In addition, in
            some states the common shares may not be sold unless the shares have been registered or
            qualified for sale in the state or an exemption from registration or qualification is
            available and is complied with.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <b><font size="2">Expenses of Registration</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">We are bearing all costs relating to the registration of the common
            stock. These expenses are estimated to be $10,000, including, but not limited to,
            legal, accounting, printing and mailing fees. The selling shareholders, however, will
            pay any commissions or other fees payable to brokers or dealers in connection with any
            sale of the common stock.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">LEGAL MATTERS</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">The validity of the common stock has been passed upon by Sichenzia Ross
            Friedman Ference LLP, New York, New York. Certain members of Sichenzia Ross Friedman
            Ference LLP will receive 360,000 shares of the Company&rsquo;s common stock under this
            registration statement to be issued as compensation for legal services.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">EXPERTS</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left">
            <font size="2">The financial statements of NaturalNano, Inc. and subsidiary as of
            December 31, 2006 and 2005, and for the years then ended, have been incorporated by
            reference herein and in the registration statement in reliance upon the report of
            Goldstein Golub Kessler LLP, an independent registered public accounting firm, upon the
            authority of said firm as experts in accounting and auditing.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">21</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left">
            </p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">INCORPORATION OF CERTAIN DOCUMENTS</font></b> <b><font size="2">BY
            REFERENCE</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">The Securities and Exchange Commission (&ldquo;SEC&rdquo;) allows us to
            incorporate by reference certain of our publicly filed documents into this prospectus,
            which means that such information is considered part of this prospectus. Information
            that we file with the SEC subsequent to the date of this prospectus will automatically
            update and supersede this information. We incorporate by reference the documents listed
            below and any future filings made with the SEC under all documents subsequently filed
            by us pursuant to Section 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of
            1934 until the selling stockholders have sold all of the shares offered hereby or such
            shares have been deregistered.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left">
            <font size="2">The following documents filed with the SEC are incorporated herein by
            reference:</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left">
            &nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our annual report on Form 10-KSB for
                        the fiscal year ended December 31, 2006, as filed with the SEC on April 2,
                        2007, which is hereby incorporated by reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our report on Form 8-K as filed with
                        the SEC on May 10, 2007, which is hereby incorporated by
                        reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our quarterly report on Form 10-QSB for
                        the fiscal year ended March 31, 2007, as filed with the SEC on May 15,
                        2007, which is hereby incorporated by reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our report on Form 8-K as filed with
                        the SEC on June 7, 2007, which is hereby incorporated by
                        reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our report on Form 8-K as filed with
                        the SEC on July 26, 2007, which is hereby incorporated by
                        reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to Amendment No. 1 to our report on Form
                        8-K (filed December 5, 2005), as filed with the SEC on August 8, 2007,
                        which is hereby incorporated by reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our quarterly report on Form 10-QSB for
                        the quarter ended June 30, 2007, as filed with the SEC on August 13, 2007,
                        which is hereby incorporated by reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our report on Form 8-K as filed with
                        the SEC on September 4, 2007, which is hereby incorporated by
                        reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our report on Form 8-K as filed with
                        the SEC on October 2, 2007, which is hereby incorporated by
                        reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our report on Form 8-K as filed with
                        the SEC on October 9, 2007, which is hereby incorporated by
                        reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our report on Form 8-K as filed with
                        the SEC on October 25, 2007, which is hereby incorporated by
                        reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our quarterly report on Form 10-QSB/A
                        for the quarter ended June 30, 2007, as filed with the SEC on November 6,
                        2007, which is hereby incorporated by reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our quarterly report on Form 10-QSB/A
                        for the quarter ended March 31, 2007, as filed with the SEC on November 6,
                        2007, which is hereby incorporated by reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our quarterly report on Form 10-QSB for
                        the quarter ended September 30, 2007, as filed with the SEC on November 14,
                        2007, which is hereby incorporated by reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our report on Form 8-K as filed with
                        the SEC on December 6, 2007, which is hereby incorporated by
                        reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our report on Form 8-K as filed with
                        the SEC on December 7, 2007, which is hereby incorporated by
                        reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">The description of our common stock is incorporated by
                        reference to our Registration Statement on Form SB-2, filed with the SEC on
                        April 5, 2006.</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.56in; TEXT-ALIGN: justify">
            <font size="2">We will provide without charge to each person to whom a copy of this
            prospectus has been delivered, on written or oral request a copy of any or all of the
            documents incorporated by reference in this prospectus, other than exhibits to such
            documents. Written or oral requests for such copies should be directed to Cathy A.
            Fleischer.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">22</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">&nbsp;</font> <b><font size="2">DISCLOSURE OF COMMISSION POSITION ON
            INDEMNIFICATION</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">FOR SECURITIES ACT LIABILITIES</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.56in; TEXT-ALIGN: justify">
            <font size="2">As permitted by the Nevada Revised Business Corporations Act, we have
            adopted provisions in our certificate of incorporation and by-laws to be in effect at
            the closing of this offering that limit or eliminate the personal liability of our
            directors.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.55in; TEXT-ALIGN: justify">
            <font size="2">Our articles of incorporation and bylaws provide that we will indemnify
            our directors and officers and may indemnify our employees or agents to the fullest
            extent permitted by law against liabilities and expenses incurred in connection with
            litigation in which they may be involved because of their offices. However, nothing in
            our articles of incorporation or bylaws protects or indemnifies a director, officer,
            employee or agent against any liability to which he would otherwise be subject by
            reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the
            duties involved in the conduct of his or her office. To the extent that a director has
            been successful in defense of any proceeding, the Nevada Revised Business Corporations
            Act provides that he or she shall be indemnified against reasonable expenses incurred
            in connection with the proceeding.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">ADDITIONAL INFORMATION AVAILABLE TO YOU</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">This prospectus is part of a Registration Statement on Form S-8 that we
            filed with the SEC. Certain information in the Registration Statement has been omitted
            from this prospectus in accordance with the rules of the SEC. We file annual, quarterly
            and special reports, proxy statements and other information with the SEC. You can
            inspect and copy the Registration Statement as well as reports, proxy statements and
            other information we have filed with the SEC at the public reference room maintained by
            the SEC at 100 F Street N.E. Washington, D.C. 20549, You can obtain copies from the
            public reference room of the SEC at 100 F Street N.E. Washington, D.C. 20549, upon
            payment of certain fees. You can call the SEC at 1-800-732-0330 for further information
            about the public reference room. We are also required to file electronic versions of
            these documents with the SEC, which may be accessed through the SEC's World Wide Web
            site at http://www.sec.gov. No dealer, salesperson or other person is authorized to
            give any information or to make any representations other than those contained in this
            prospectus, and, if given or made, such information or representations must not be
            relied upon as having been authorized by us. This prospectus does not constitute an
            offer to buy any security other than the securities offered by this prospectus, or an
            offer to sell or a solicitation of an offer to buy any securities by any person in any
            jurisdiction where such offer or solicitation is not authorized or is unlawful. Neither
            delivery of this prospectus nor any sale hereunder shall, under any circumstances,
            create any implication that there has been no change in the affairs of our company
            since the date hereof.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">23</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 8.5pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">NATURALNANO, INC.</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 8.5pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">17,000,000 SHARES OF COMMON STOCK</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 8.5pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 3.4in; TEXT-ALIGN: center">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">PROSPECTUS</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 8.5pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 3.4in; TEXT-ALIGN: center">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">December 17, 2007</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">24</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">PART II</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <b><font size="2">Item 3. Incorporation of Documents by Reference.</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.17in; TEXT-ALIGN: justify">
            <font size="2">The Registrant hereby incorporates by reference into this Registration
            Statement the documents listed below. In addition, all documents subsequently filed
            pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934
            (the &ldquo;Exchange Act&rdquo;), prior to the filing of a post-effective amendment
            which indicates that all securities offered have been sold or which deregisters all
            securities then remaining unsold, shall be deemed to be incorporated by reference into
            this Registration Statement and to be a part hereof from the date of filing of such
            documents:</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our annual report on Form 10-KSB for
                        the fiscal year ended December 31, 2006, as filed with the SEC on April 2,
                        2007, which is hereby incorporated by reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our report on Form 8-K as filed with
                        the SEC on May 10, 2007, which is hereby incorporated by
                        reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our quarterly report on Form 10-QSB for
                        the fiscal year ended March 31, 2007, as filed with the SEC on May 15,
                        2007, which is hereby incorporated by reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our report on Form 8-K as filed with
                        the SEC on June 7, 2007, which is hereby incorporated by
                        reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our report on Form 8-K as filed with
                        the SEC on July 26, 2007, which is hereby incorporated by
                        reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to Amendment No. 1 to our report on Form
                        8-K (filed December 5, 2005), as filed with the SEC on August 8, 2007,
                        which is hereby incorporated by reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our quarterly report on Form 10-QSB for
                        the quarter ended June 30, 2007, as filed with the SEC on August 13, 2007,
                        which is hereby incorporated by reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our report on Form 8-K as filed with
                        the SEC on September 4, 2007, which is hereby incorporated by
                        reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our report on Form 8-K as filed with
                        the SEC on October 2, 2007, which is hereby incorporated by
                        reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our report on Form 8-K as filed with
                        the SEC on October 9, 2007, which is hereby incorporated by
                        reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our report on Form 8-K as filed with
                        the SEC on October 25, 2007, which is hereby incorporated by
                        reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our quarterly report on Form 10-QSB/A
                        for the quarter ended June 30, 2007, as filed with the SEC on November 6,
                        2007, which is hereby incorporated by reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our quarterly report on Form 10-QSB/A
                        for the quarter ended March 31, 2007, as filed with the SEC on November 6,
                        2007, which is hereby incorporated by reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our quarterly report on Form 10-QSB for
                        the quarter ended September 30, 2007, as filed with the SEC on November 14,
                        2007, which is hereby incorporated by reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our report on Form 8-K as filed with
                        the SEC on December 6, 2007, which is hereby incorporated by
                        reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">Reference is made to our report on Form 8-K as filed with
                        the SEC on December 7, 2007, which is hereby incorporated by
                        reference.</font></p>
                    </td>
                </tr>
            </table>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="4"><b>&bull;</b></font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
                        <font size="2">The description of our common stock is incorporated by
                        reference to our Registration Statement on Form SB-2, filed with the SEC on
                        April 5, 2006.</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <b><font size="2">Item 4. Description of Securities.</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">Not applicable.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">25</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <b><font size="2">Item 5. Interests of Named Experts and Counsel.</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.57in; TEXT-ALIGN: justify">
            <font size="2">No expert or counsel named in this prospectus as having prepared or
            certified any part of this prospectus or having given an opinion upon the validity of
            the securities being registered or upon other legal matters in connection with the
            registration or offering of the common stock was employed on a contingency basis or
            had, or is to receive, in connection with the offering, a substantial interest,
            directly or indirectly, in the registrant or any of its parents or subsidiaries,
            provided that certain members of Sichenzia Ross Friedman Ference LLP will receive
            360,000 shares of the Company&rsquo;s common stock under this registration statement to
            be issued as compensation for legal services.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <b><font size="2">Item 6. Indemnification of Directors and Officers.</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">As permitted by the Nevada Revised Business Corporations Act, we have
            adopted provisions in our certificate of incorporation and by-laws to be in effect at
            the closing of this offering that limit or eliminate the personal liability of our
            directors.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.55in; TEXT-ALIGN: justify">
            <font size="2">Our articles of incorporation and bylaws provide that we will indemnify
            our directors and officers and may indemnify our employees or agents to the fullest
            extent permitted by law against liabilities and expenses incurred in connection with
            litigation in which they may be involved because of their offices. However, nothing in
            our articles of incorporation or bylaws protects or indemnifies a director, officer,
            employee or agent against any liability to which he would otherwise be subject by
            reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the
            duties involved in the conduct of his or her office. To the extent that a director has
            been successful in defense of any proceeding, the Nevada Revised Business Corporations
            Act provides that he or she shall be indemnified against reasonable expenses incurred
            in connection with the proceeding.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <b><font size="2">Item 7. Exemption from Registration Claimed.</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.03in; TEXT-ALIGN: justify">
            <font size="2">The 7,000,000 shares of common stock to be sold by the selling
            stockholders pursuant to this Registration Statement are issuable upon exercise of
            outstanding stock options issued pursuant to the Company&rsquo;s Amended and
            Restated</font><font size="2">2007 Incentive Stock Plan. The stock options were issued
            pursuant to the exemption from registration provided by Section 4(2) of the Securities
            Act of 1933, as amended.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <b><font size="2">Item 8. Exhibits.</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="top" width="120">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b><font size="2">Exhibit Number</font></b></p>
                    </td>

                    <td valign="top" width="23">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="top" width="482">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b><font size="2">Description</font></b></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="120">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">5.1</font></p>
                    </td>

                    <td valign="top" width="23">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="482">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Opinion of Sichenzia Ross Friedman Ference LLP</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="120">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">4.1</font></p>
                    </td>

                    <td valign="top" width="23">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="482">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">NaturalNano, Inc. Amended and
                        Restated</font><font size="2">2007 Incentive Stock Plan</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="120">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">23.1</font></p>
                    </td>

                    <td valign="top" width="23">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="482">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Consent of Sichenzia Ross Friedman Ference LLP (included in
                        Exhibit 5.1)</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="120">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">23.2</font></p>
                    </td>

                    <td valign="top" width="23">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="482">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Consent of Goldstein Golub Kessler LLP</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <b><font size="2">Item 9. Undertakings.</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td valign="top" width="73">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        <font size="2">(1)&nbsp;&nbsp;</font></p>
                    </td>

                    <td valign="top" width="551">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">The undersigned Registrant hereby undertakes to:</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: 0.25in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">(a) File, during any period in which it offers or sells securities, a
            post-effective amendment to this Registration Statement to include any additional or
            changed material information on the plan of distribution.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">(b) For determining liability under the Securities Act, treat each
            post-effective amendment as a new registration statement of the securities offered, and
            the offering of the securities at the time to be the initial</font>
            <i><font size="2">bona fide</font></i> <font size="2">offering.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">26</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">(c) File a post-effective amendment to remove from registration any of
            the securities that remain unsold at the end of the offering.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">(2) The undersigned Registrant hereby undertakes that, for the purposes
            of determining any liability under the Securities Act, each filing of the Registrant's
            annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and,
            where applicable, each filing of an employee benefit plan's annual report pursuant to
            Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference
            in the Registration Statement shall be deemed to be a new registration statement
            relating to the securities offered therein, and the offering of such securities at that
            time shall be deemed to be the initial bona fide offering thereof.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">(3) Insofar as indemnification for liabilities arising under the
            Securities Act of 1933 may be permitted to directors, officers and controlling persons
            of the registrant pursuant to the foregoing provisions, or otherwise, the registrant
            has been advised that in the opinion of the Securities and Exchange Commission such
            indemnification is against public policy as expressed in the Act and is, therefore,
            unenforceable. In the event that a claim for indemnification against such liabilities
            (other than the payment by the registrant of expenses incurred or paid by a director,
            officer, or controlling person of the registrant in the successful defense of any
            action, suit or proceeding) is asserted by such director, officer or controlling person
            in connection with the securities being registered, the registrant will, unless in the
            opinion of its counsel the matter has been settled by controlling precedent, submit to
            a court of appropriate jurisdiction the question whether such indemnification by it is
            against public policy as expressed in the Act and will be governed by the final
            adjudication of such issue.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">27</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="PAGE-BREAK-BEFORE: always"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">SIGNATURES</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.55in; TEXT-ALIGN: justify">
            <font size="2">Pursuant to the requirements of the Securities Act of 1933, the
            Registrant certifies that it has reasonable grounds to believe that it meets all of the
            requirements for filing on Form S-8 and has duly caused this registration statement to
            be signed on its behalf by the undersigned, thereunto duly authorized, in the Town of
            Pittsford, New York, on December 17, 2007.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="624" border="0">
                <tr>
                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="40">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="270">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 2.25pt; TEXT-ALIGN: left">
                        <b><font size="2">NATURALNANO, INC.</font></b></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="40">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="270">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="40">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="270">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="53">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="238">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="40">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">By:</font></p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="top" width="270">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">/s/Cathy A. Fleischer</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="40">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="270">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Cathy A. Fleischer</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="40">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="270">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">President and Chief Technology Officer</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="40">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="270">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="40">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="270">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="40">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="270">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="53">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="238">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="40">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">By:</font></p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="top" width="270">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="1">/s/Kent A. Tapper</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="40">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="270">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Kent A. Tapper</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="40">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="24">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="270">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Chief Financial Officer, Secretary and Treasurer</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            <font size="2">Pursuant to the requirements of the Securities Act of 1933, this
            registration statement has been signed by the following persons in the capacities and
            on the date indicated:</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">
            &nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="626" border="0">
                <tr>
                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="top" width="210">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b><font size="2">Signature</font></b></p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="top" width="255">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b><font size="2">Title</font></b></p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="top" width="161">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <b><font size="2">Date</font></b></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="210">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="255">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="161">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="top" width="210">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">/s/Cathy A. Fleischer</font></p>
                    </td>

                    <td valign="top" width="255">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="2">President, Chief Technology Officer</font></p>
                    </td>

                    <td valign="top" width="161">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="2">December 17, 2007</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="210">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Cathy A. Fleischer</font></p>
                    </td>

                    <td valign="top" width="255">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="2">and Director (Principal Executive Officer)</font></p>
                    </td>

                    <td valign="top" width="161">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="210">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="255">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="161">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="top" width="210">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">/s/Kent A. Tapper</font></p>
                    </td>

                    <td valign="top" width="255">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="2">Chief Financial Officer, Secretary and Treasurer (Principal
                        Financial Officer and Principal Accounting Officer)</font></p>
                    </td>

                    <td valign="top" width="161">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="2">December 17, 2007</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="210">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Kent A. Tapper</font></p>
                    </td>

                    <td valign="top" width="255">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="161">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="210">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="255">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="161">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="top" width="210">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="1">/s/Gary W. Beall</font></p>
                    </td>

                    <td valign="top" width="255">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="2">Director</font></p>
                    </td>

                    <td valign="top" width="161">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="2">December 17, 2007</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="210">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Gary W. Beall</font></p>
                    </td>

                    <td valign="top" width="255">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="161">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="210">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="255">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="161">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="top" width="210">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">/s/John F. Lanzafame</font></p>
                    </td>

                    <td valign="top" width="255">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="2">Director</font></p>
                    </td>

                    <td valign="top" width="161">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="2">December 17, 2007</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="210">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">John F. Lanzafame</font></p>
                    </td>

                    <td valign="top" width="255">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="161">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="210">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="255">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="161">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="top" width="210">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="255">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="2">Director</font></p>
                    </td>

                    <td valign="top" width="161">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="2">December 17, 2007</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="210">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Sharell Mikesell</font></p>
                    </td>

                    <td valign="top" width="255">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="161">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="210">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="255">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="161">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="top" width="210">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">/s/Klaus E. T. Siebert</font></p>
                    </td>

                    <td valign="top" width="255">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="2">Director</font></p>
                    </td>

                    <td valign="top" width="161">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        <font size="2">December 17, 2007</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="210">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Klaus E. T. Siebert</font></p>
                    </td>

                    <td valign="top" width="255">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="161">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="210">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="255">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="161">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                        &nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="BORDER-BOTTOM: black 1.5pt solid" valign="top" width="210">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" width="255">
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                        <font size="2">Director</font></p>
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                        <font size="2">December 17, 2007</font></p>
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                        <u><font size="2">James Wemett</font></u></p>
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            <font size="2">28</font></p>

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[{"type": "S-8", "sequence": "1", "filename": "forms8.htm", "description": "REGISTRATION STATEMENT", "secsgml_size_bytes": 364818}]
{"company-data": {"conformed-name": "NaturalNano , Inc.", "cik": "0000863895", "assigned-sic": "8731", "irs-number": "870646435", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-148163", "film-number": "071315959"}, "business-address": {"street1": "15 SCHOEN PLACE", "city": "PITTSFORD", "state": "NY", "zip": "14534", "phone": "585-267-4850"}, "mail-address": {"street1": "15 SCHOEN PLACE", "city": "PITTSFORD", "state": "NY", "zip": "14534"}, "former-company": [{"former-conformed-name": "NaturalNano Research, Inc", "date-changed": "20051221"}, {"former-conformed-name": "NATURALNANO INC", "date-changed": "20051208"}, {"former-conformed-name": "CEMENTITIOUS MATERIALS INC", "date-changed": "20040315"}]}
As
            filed with the Securities and Exchange Commission on December 17, 2007
Registration No. 333-________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF
            1933
NaturalNano, Inc.
(Exact name of registrant as specified in its charter)
Nevada
(State or other jurisdiction of
incorporation or organization)
8731
(Primary Standard Industrial Classification Code
                        Number)
87-0646435
(I.R.S. Employer
identification No.)
15
            Schoen Place, Pittsford, NY 14534
(Address of principal executive offices) (Zip Code)
Amended and Restated 2007 Incentive Stock Plan
(full
            title of the plan)
Cathy
            A. Fleischer, President
NaturalNano, Inc.
15
            Schoen Place
Pittsford, NY 14534
(Name and address of agent for service)
(585)
            267-4850
(Telephone number, including area code, of agent for service)
With
            a copy to:
Gregory Sichenzia, Esq.
Yoel
            Goldfeder, Esq.
Sichenzia Ross Friedman Ference LLP
61
            Broadway
New
            York, NY 10006
Phone
            (212) 930-9700
Fax
            (212) 930-9725
1
CALCULATION OF REGISTRATION FEE
Title of each class of securities
to be registered
Amount to be Registered
Proposed Maximum Offering Price Per
                        Security
Proposed Maximum Aggregate Offering Price
Amount of Registration Fee
Common Stock, $0.001 par value
17,000,000
(1
)
$
0.13
(2
)
$
2,210,000
$
67.85
(1)
Represents shares of common stock underlying our
Amended and Restated
2007 Incentive
                        Stock Plan.
(2)
Estimated solely for purposes of calculating the
                        registration fee in accordance with Rule 457(c) of the
Securities Act of 1933, as amended, using the average of the
                        high and low price as reported on the Over-The-Counter Bulletin Board
                        on
December
14,
                        2007.
2
EXPLANATORY NOTE
This Registration Statement is being filed in accordance with the
            requirements of Form S-8 in order to register an aggregate of 17,000,000 shares of our
            common stock, par value $0.001 per share, issuable under our
Amended and Restated
2007 Incentive Stock
            Plan.
In addition, the Prospectus filed as part of this Registration Statement
            has been prepared in accordance with the requirements of Form S-3 and may be used for
            reofferings and resales of up to an aggregate of 17,000,000 shares of our common stock,
            under our Amended and Restated
2007 Incentive Stock
            Plan.
PART I
Item 1.
Plan Information.
NaturalNano, Inc. ("We", "us", "our company" or "NaturalNano") will
            provide each participant (the "Recipient") with documents that contain information
            related to our 2007 Incentive Stock Plan, and other information including, but not
            limited to, the disclosure required by Item 1 of Form S-8, which information is not
            filed as a part of this Registration Statement on Form S-8 (the "Registration
            Statement"). The foregoing information and the documents incorporated by reference in
            response to Item 3 of Part II of this Registration Statement taken together constitute
            a prospectus that meets the requirements of Section 10(a) of the Securities Act. A
            Section 10(a) prospectus will be given to each Recipient who receives common shares
            covered by this Registration Statement, in accordance with Rule 428(b)(1) under the
            Securities Act of 1933, as amended (the "Securities Act").
Item 2.
Registrant Information and Employee Plan Annual
                        Information.
We
            will provide to each Recipient a written statement advising of the availability of
            documents incorporated by reference in Item 3 of Part II of this Registration Statement
            and of documents required to be delivered pursuant to Rule 428(b) under the Securities
            Act without charge and upon written or oral notice by contacting:
Cathy
            A. Fleischer, President
15
            Schoen Place
Pittsford, NY 14534
Telephone: (585) 267-4850
3
REOFFER PROSPECTUS
NaturalNano, Inc.
17,000,000
Shares of
Common Stock
This reoffer prospectus relates to the sale of up to 17,000,000 shares
            of our common stock, $0.001 par value per share, that may be offered and resold from
            time to time by certain eligible participants and existing selling shareholders
            identified in this prospectus for their own account issuable pursuant to our Amended
            and Restated
2007 Incentive Stock Plan. It is anticipated that the
            selling shareholders will offer common shares for sale at prevailing prices on the OTC
            Bulletin Board on the date of sale. We will receive no part of the proceeds from sales
            made under this reoffer prospectus. The selling shareholders will bear all sales
            commissions and similar expenses. Any other expenses incurred by us in connection with
            the registration and offering and not borne by the selling shareholders will be borne
            by us.
The shares of common stock will be issued pursuant to awards granted
            under our Amended and Restated 2007 Incentive Stock Plan. This reoffer prospectus has
            been prepared for the purposes of registering the common shares under the Securities
            Act to allow for future sales by selling shareholders on a continuous or delayed basis
            to the public without restriction.
Our common stock is quoted on the OTC Bulletin Board under the symbol
            NNAN. The closing sale price for our common stock on December 14, 2007 was $0.15 per
            share.
Investing in our common stock involves risks. See "Risk Factors" on
            page 7 of this reoffer prospectus. These are speculative securities.
Since our company does not currently meet the registrant requirements
            for use of Form S-3, the amount of common shares which may be resold by means of this
            reoffer prospectus by each of the selling stockholders, and any other person with whom
            he or she is acting in concert for the purpose of selling securities of our company,
            must not exceed, in any three month period, the amount specified in Rule 144(e)
            promulgated under the Securities Act.
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE
            SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF
            THIS PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A
            CRIMINAL OFFENSE.
The
            date of this prospectus is December 17, 2007.
4
NATURALNANO,
TABLE OF CONTENTS
Page
Prospectus Summary
6
Risk Factors
7
Cautionary Note Regarding Forward-Looking
                        Statements
15
Determination of Offering Price
15
Use of Proceeds
15
Selling Stockholders
15
Plan of Distribution
17
Legal Matters
20
Experts
20
Incorporation of Certain Documents by Reference
20
Disclosure of Commission Position on Indemnification for
                        Securities Act Liabilities
21
Additional Information Available to You
21
NO PERSON HAS BEEN AUTHORIZED TO GIVE ANY INFORMATION OR TO MAKE ANY
            REPRESENTATIONS, OTHER THAN THOSE CONTAINED IN THIS PROSPECTUS, IN CONNECTION WITH THE
            OFFERING MADE HEREBY, AND, IF GIVEN OR MADE, SUCH INFORMATION OR REPRESENTATION MUST
            NOT BE RELIED UPON AS HAVING BEEN AUTHORIZED BY THE COMPANY OR ANY OTHER PERSON.
            NEITHER THE DELIVERY OF THIS PROSPECTUS NOR ANY SALE MADE HEREUNDER SHALL UNDER ANY
            CIRCUMSTANCES CREATE ANY IMPLICATION THAT THERE HAS BEEN NO CHANGE IN THE AFFAIRS OF
            THE COMPANY SINCE THE DATE HEREOF. THIS PROSPECTUS DOES NOT CONSTITUTE AN OFFER TO SELL
            OR A SOLICITATION OF AN OFFER TO BUY ANY SECURITIES OFFERED HEREBY BY ANYONE IN ANY
            JURISDICTION IN WHICH SUCH OFFER OR SOLICITATION IS NOT AUTHORIZED OR IN WHICH THE
            PERSON MAKING SUCH OFFER OR SOLICITATION IS NOT QUALIFIED TO DO SO OR TO ANY PERSON TO
            WHOM IT IS UNLAWFUL TO MAKE SUCH OFFER OR SOLICITATION.
5
PROSPECTUS SUMMARY
We are domiciled in the State of Nevada as a result of a merger with
            Cementitious Materials, Inc. on November 29, 2005. NaturalNano is a development stage
            company and we expect to remain so for at least the next twelve months. Our primary
            mission is to develop and commercialize material science technologies with a special
            emphasis on additives to plastic formulations and other industrial and
            consumer products by taking advantage of technological advances we have developed
            in-house and through licenses from third parties. These technologies focus primarily on
            nanoscale materials (that is, materials measured using one-billionth of a meter
            units) using modifications to tubular materials found in halloysite clay, a
            naturally-occurring, clay-like material. Our strategy is to develop proprietary and
            patentable processes and technologies related to these nanoscale materials and to
            commercialize these through product sales or license agreements to companies in the
            plastics and composites, cosmetics and personal care products, household products, and
            agrichemical industries. We began our current line of business on December 22, 2004.
            From that date through September 30, 2007, we have incurred cumulative net losses
            of $15,810,288. We have relied almost entirely on sales of debt and
            equity securities and related party advances to fund our operations.
Our principal executive offices are located at 15 Schoen Place,
            Pittsford, New York 14534 and our telephone number is (585) 267-4850.
The Offering
Common stock outstanding before the offering
122,880,740 shares.
Common stock issuable upon exercise of outstanding options
                        which may be offered pursuant to this prospectus
17,000,000 shares
Common stock to be outstanding after the offering
122,880,740 shares, which includes 17,000,000 shares
                        issuable upon exercise of outstanding stock options.
Use of proceeds
We will receive the exercise price from the sale of shares
                        to the selling stockholders when, and if, such selling stockholders
                        exercise their stock options. Any proceeds received by us from the exercise
                        of such stock options will be used for general working capital
                        purposes.
OTC Bulletin Board Symbol.
NNAN
Risk Factors
The purchase of common stock involves a high degree of risk.
                        You should carefully review and consider "Risk Factors"
                        beginning on page 7.
6
RISK FACTORS
You should carefully consider the following material risk factors as
            well as all other information set forth or referred to in this prospectus before
            purchasing shares of our common stock. Investing in our common stock involves a high
            degree of risk. The Company believes all material risk factors have been presented
            below. If any of the following events or outcomes actually occurs, our business
            operating results and financial condition would likely suffer. As a result, the trading
            price of our common stock could decline, and you may lose all or part of the money you
            paid to purchase our common stock.
Risks Related to our Business
We have a limited operating history, and therefore there
            is
a high risk of
            potential business failure unless we can overcome the various obstacles inherent to a
            development stage business.
We
            are a development stage company with limited prior business operations. Because of our
            limited operating history, you may not have adequate information on which you can base
            an evaluation of our business and prospects. Investors should be aware of the
            difficulties, delays and expenses normally encountered by an enterprise in its
            development stage, many of which are beyond our control, including unanticipated
            research and development expenses, employment costs, and administrative expenses. We
            cannot assure our investors that our proposed business plans as described herein will
            materialize or prove successful, or that we will be able to finalize development of our
            products or operate profitably.
We have incurred substantial operating losses and have had no
            material revenues since inception (December 22, 2004) and we may never achieve
            profitability.
From
            our inception on December 22, 2004 through September 30, 2007, we have incurred
            cumulative losses of $15,810,288. As a result of the start-up nature of our business,
            we expect to sustain substantial expenses before generating significant revenues. There
            can be no assurance that we will achieve profitability in the immediate future or at
            any time.
We
            do not expect to generate significant revenues in 2007, during which time we will
            engage primarily in research, development and commercialization efforts for our
            Pleximer product. Our first revenue from the sale of the Pleximer product is expected
            in the fourth quarter of 2007. We do not anticipate revenues sufficient to fund our
            business plan and research programs until late in 2008 at the earliest.
We
            project total spending in the year ending December 31, 2007 of approximately $3 million
            (including capital investments of $275,000 and $100,000 in licensing payments to third
            parties). Our cash balance on September 30, 2007 was $1.02 million and our average cash
            burn for the nine month period ended September 30, 2007 was approximately $253,000 per
            month.
Given our historical financial losses and current financial
            condition,
we will
            need additional financing to execute our 2008 business plan. Our inability to obtain
            sufficient additional capital could reduce the value the market currently places on our
            common stock.
From
            our inception on December 22, 2004 through September 30, 2007, we have incurred
            cumulative losses of $15,810,288. We estimate that the net loss for the twelve month
            period ending December 31, 2007 will be approximately $5,500,000. Our cash burn
            projections indicate that we will have cash available for our business operations
            and research and commercialization efforts only through December 31, 2007. In light of
            this, the Company intends to seek at least $5,000,000 of additional funding to be in
            place by the beginning of 2008. We have no current commitment for such
            future funding and there can be no assurance that additional capital will
            be
7
available on terms acceptable to us, or at all. Selling additional stock
            would dilute the equity interests of our stockholders. Further, if we sell stock at a
            price lower than the conversion price of the Notes held by the selling stockholders,
            the number of shares of our common stock issuable upon conversion of those Notes will
            automatically increase, thereby further diluting the equity interests of our
            stockholders. If we are unable to secure additional capital, we will be forced to
            reduce our investment in development and commercialization efforts, which will impair
            our ability to execute our plans and as a result we may fail.
We
            project total research and development spending of approximately $1,878,300 (including
            capital investments of $275,000 and $100,000 in licensing investments) in 2007 and
            $3,354,200 (including capital investments of $1,157,000 and $200,000 in licensing
            investments) in 2008.
Management projects that the Company will have viable saleable products,
            at a level that will generate positive cash flow, by the fourth quarter of 2008.
            Investors should be aware of the increased risks, uncertainties, difficulties and
            expenses we face as a research and development company and that an investment in our
            common stock may become worthless if our business fails.
Because our products will generally be components of, or additives
            to, end products sold to our customer's end-users, the commercial viability of
            our products will be tied to the success of our customers'
            products.
Our
            products are not designed for direct use by an end-user and virtually all of our
            products will be components of, or additives to, other products. For example, we expect
            that our halloysite based product, Pleximer, will be incorporated into or used as
            an additive in a wide array of end products, produced by our customers, to enhance
            performance and reliability and lower cost. As a result, the market for our products is
            dependent on third parties creating or expanding their end-user products that will
            ultimately utilize our products. If such end-user products are not developed, or the
            market for such improvements to the end-user product diminishes or fails to develop,
            the market for our component product would diminish or collapse. This would limit our
            ability to generate revenues as envisioned in our business plan.
If we cannot achieve commercial application of our nanoscale
            materials, we may not achieve profitability.
We
            must develop commercial applications for halloysite nanotubes, which we intend to
            develop through joint development agreements in specific market segments in identified
            potential fields of use. If we fail to establish such collaborative relationships or
            if such collaborations are unable to develop sufficiently attractive
            commercial uses for our nanoscale materials or to produce these materials at a
            competitive cost, we may not achieve profitability.
We may not be able to manage our growth effectively, which could
            slow or prevent our ability to achieve profitability.
The
            ability to manage and operate our business as we execute our development and growth
            strategy will require effective planning. Significant rapid growth could strain our
            internal resources and delay or prevent our efforts to achieve profitability. We expect
            that our efforts to grow will place a significant strain on our personnel, management
            systems, infrastructure and other resources. Our ability to manage future growth
            effectively will also require us to successfully attract, train, motivate, retain and
            manage new employees and continue to update and improve our operational, financial and
            management controls and procedures. If we do not manage our growth effectively slower
            growth is likely to occur and thereby slowing or negating our ability to achieve
            and sustain profitability.
We may not be able to fully
protect our proprietary rights and we
            may infringe the proprietary rights of others which could result in costly
            litigation.
Our
            future success depends on our ability to protect and preserve the proprietary rights
            related to our technology and resulting products. We have the rights to twenty-five
            issued or pending patents relating to processes and technologies and expect to
            continually invest in our intellectual property portfolio through in-house
            development
8
and
            through third party licensing and joint venture research. We cannot assure you that we
            will be able to prevent third parties from using our intellectual property rights and
            technology without our authorization. The Company intends to pursue aggressively all
            efforts to obtain patent protection for our technology. The Company also relies on
            trade secrets, common law trademark rights and trademark registrations, as well as
            confidentiality and work for hire, development, assignment and license agreements with
            employees, consultants, third party developers, licensees and customers. Our protective
            measures for these intangible assets afford only limited protection and may be flawed
            or inadequate.
Policing unauthorized use of our technology is difficult and some
            foreign laws do not provide the same level of protection as U.S. laws. Litigation may
            be necessary in the future to enforce our intellectual property rights, to protect our
            trade secrets or patents that we may obtain, or to determine the validity and scope of
            the proprietary rights of others. Such litigation could result in substantial costs and
            diversion of resources and have a material adverse effect on our future operating
            results.
In
            recent years, there has been significant litigation in the United States involving
            patents and other intellectual property rights. In particular, there has been an
            increase in the filing of suits alleging infringement of intellectual property rights,
            which pressure defendants into entering settlement arrangements quickly to dispose of
            such suits, regardless of their merits. Other companies or individuals may allege that
            we infringe on their intellectual property rights. Litigation, particularly in the area
            of intellectual property rights, is costly and the outcome is inherently uncertain. In
            the event of an adverse result, we could be liable for substantial damages and we may
            be forced to discontinue our use of the subject matter in question or obtain a license
            to use those rights or develop non-infringing alternatives.
Our strategy of pursuing
joint development
            agreements
may not
            lead to
the
            commercialization of our technologies, which could have a severe negative impact on our
            ability to market our products.
Leveraging strategic partnerships is a key element of our
            business plan. We plan to achieve product commercialization through joint development
            agreements, as these relationships will help us to validate and expand our technology
            and offer insight into and definition of additional application opportunities and
            develop future sales channels. We intend to continue our development of these strategic
            partnerships with research teams at leading industry manufacturers and suppliers in
            order to develop the manufacturing and marketing efforts that we believe will be
            required to commercialize our products. We currently have three joint development
            agreements. If we are unable to enter into sufficient joint development
            agreements in the future, or if none of our joint development agreements leads to
            a strategic alliance, we may be unable to complete the commercialization of our
            products as effectively as we currently envision.
The industry in which we operate is highly competitive and has
            relatively low barriers to entry. Increased competition could result in margin erosion,
            which would make profitability even more difficult to achieve and
            sustain.
We
            expect that our future product offerings will provide new capabilities and superior
            performance compared to existing materials. However, many of our current and
            prospective competitors are larger and have greater financial resources, which could
            create significant competitive advantages for those companies. Our future success
            depends on our ability to compete effectively with other manufacturers of material
            additives that may have internal development programs. As a result, we may have
            difficulty competing with larger, established competitor companies. Generally, these
            competitors have:
•
substantially greater financial, technical and marketing
                        resources;
•
larger customer bases;
•
better name recognition; and
•
potentially more expansive product offerings.
9
Many
            existing and potential competitors have greater financial resources and are likely to
            command a larger market share, which may enable them to establish a stronger
            competitive position than we may have, in part through greater marketing opportunities.
            If we fail to address competitive developments quickly and effectively, we may not be
            able to remain a viable entity.
Our business could be negatively affected by any adverse economic
            developments in the advanced materials industry and/or the economy in
            general.
We
            depend on the demand for the application of our technology and nanoscale materials and
            as such our business is susceptible to downturns in the advanced materials industry and
            the economy in general. Any significant downturn in the market or in general economic
            conditions would likely result in additional investments in research and marketing and
            thereby increase our costs to bring our products to market.
Our future success depends on retaining our existing key employees
            and hiring and assimilating new key employees. The loss of key employees or the
            inability to attract new key employees could limit our ability to execute our growth
            strategy, resulting in lost sales and a slower rate of growth.
Our
            success depends in part on our ability to retain key employees including our executive
            officers. Although we have certain employment agreements in effect with our executives,
            each executive can terminate his or her agreement generally with 90 days notice. It
            would be difficult for us to replace any one of these individuals. In addition, as we
            grow we will need to hire additional key personnel. We may not be able to identify
            and attract high quality employees or successfully assimilate new employees into our
            existing management structure.
Because we have filled, and intend in the future to fill, certain
            of our human resource needs with part-time consultants in lieu of hiring full-time
            employees, we may increase risks associated with the protection of our intellectual
            property, inhibit our ability to access the best talent, and potentially impair our
            ability to monitor the progress of our research and development
            projects.
In
            an effort to contain operating costs and conserve our cash resources, we have employed,
            from time to time, part-time consultants in lieu of immediately hiring full-time
            employees in certain administrative and technical positions, and we intend to continue
            this practice. In a  number of these instances, the part-time consultant has
            transitioned into full-time employment with the Company. The use of part-time
            consultants increases the risk of improper and unauthorized access to intellectual
            property and confidential technical information, even though we enter into
            non-disclosure and technology transfer agreements with all of our
            consultants.
The
            use of part-time consultants can also limit the range of personnel available to us, as
            many well-qualified prospective employees will decline offers of part-time
            consultancy.
We are controlled by a single majority stockholder, and our
            minority stockholders will be unable to effect changes in our governance structure or
            implement actions that require stockholder approval, such as a sale of the
            Company.
Technology Innovations, LLC beneficially owns a majority of the
            outstanding shares of our common stock. Technology Innovations has the ability to
            control various corporate decisions, including our direction and policies, the election
            of our entire Board of Directors, the content of our charter and bylaws, and the
            outcome of any other matter requiring stockholder approval, including a merger,
            consolidation, sale of substantially all of our assets or other change of control
            transaction. The consent of our minority stockholders will not be required for any of
            these decisions.
10
There may be conflicts of interest between us and our parent and
            majority stockholder.
Because of the nature of our business and the businesses of other
            entities in which Technology Innovations, our parent and majority
            stockholder, holds, or may in the future acquire, an ownership interest, the
            relationship of Technology Innovations with these other entities may give rise to
            conflicts of interest with respect to certain matters affecting us. Potential
            conflicts may not always be resolved in a manner that is favorable to us. We believe it
            is impossible to predict the precise circumstances under which future potential
            conflicts may arise and therefore intend to address potential conflicts on a
            case-by-case basis. Under Nevada law, directors have a fiduciary duty to act in good
            faith and with a view to the best interests of the corporation. Our disinterested Board
            members will make all determinations and decisions relating to Technology Innovations
            and other affiliates as they may arise, but because actions by our Board are subject to
            reversal by direct or indirect stockholder action, and Technology Innovations, as the
            holder of approximately 56.8% of our outstanding common stock as of September 28, 2007,
            has effective voting control, decisions by our disinterested Board members adverse to
            the interests of Technology Innovations will be subject, in certain circumstances, to
            reversal by Technology Innovations.
Risks Related to Our Common Stock
We have a history of operating losses and expect to report future
            losses that may cause our stock price to decline.
For
            the operating period since inception (December 22, 2004) through September
            30, 2007, we have incurred a net cumulative loss of $15,810,288. We expect to continue
            to incur losses as we spend additional capital to develop and market our technologies
            and establish our infrastructure and organization to support anticipated
            operations. We estimate that our net loss for the year ending December 31, 2007
            will be approximately $5,500,000. We cannot be certain whether we will ever
            earn a significant amount of revenues or profit, or if we do, that we will be able to
            continue earning such revenues or profit. Also, any economic weakness or global
            recession may limit our ability to develop and ultimately market our technologies. Any
            of these factors could cause our stock price to decline and result in you losing a
            portion or all of your investment.
We
will need to raise additional capital. If we are
                        unable to raise additional capital, our business may
                        fail.
Because we are a development stage company and have no material
            revenues, we need to secure on-going funding. The private placement of 8% Senior
            Secured Convertible Notes provided working capital proceeds of $3,132,500 in the first
            quarter of 2007, but we believe that such funds will not be sufficient to carry
            out all of our plans and to fund our operating losses until we are able to
            generate enough revenues to sustain our business at our current cash burn rate after
            December 31, 2007. If we are unable to obtain adequate additional financing, we may not
            be able to successfully develop and market our products and our business will most
            likely fail. To secure additional financing, we may need to borrow money or sell more
            securities. Under these circumstances, we may be unable to secure additional financing
            on favorable terms or at all. Selling additional stock, either privately or publicly,
            would dilute the equity interests of our stockholders. If we borrow money, we will have
            to pay interest and may also have to agree to restrictions that limit our operating
            flexibility. If we are unable to obtain adequate financing, we may have to curtail
            business operations which would have a material negative effect on operating results
            and most likely result in a lower stock price.
11
Our common stock has experienced in the past, and is expected to
            experience in the future, significant price and volume volatility, which substantially
            increases the risk that you may not be able to sell your shares at or above the price
            that you pay for the shares.
Certain factors, some of which are beyond our control, that may cause
            our share price to fluctuate significantly include, but are not limited to, the
            following:
•
variations in our quarterly operating results;
•
our ability to complete the research and development of our
                        technologies;
•
the development of a future market for our
                        products;
•
changes in market valuations of similar
                        companies;
•
announcement by us or our competitors of significant
                        contracts, acquisitions, strategic partnerships, joint ventures or capital
                        commitments;
•
additions or departures of key personnel; and
•
fluctuations in stock market price and volume.
Additionally, in recent years the stock market in general, and the
            Over-the-Counter Bulletin Board and technology stocks in particular, have experienced
            extreme price and volume fluctuations. In some cases these fluctuations are unrelated
            or disproportionate to the operating performance of the underlying company. These
            market and industry factors may materially and adversely affect our stock price
            regardless of our operating performance. The historical trading of our common stock is
            not necessarily an indicator of how it will trade in the future and our trading price
            as of the date of this prospectus is not necessarily an indicator of what the trading
            price of our common stock might be in the future. In the past, class action litigation
            has often been brought against companies following periods of volatility in the market
            price of those companies' common stock. If we become involved in this type of
            litigation in the future it could result in substantial costs and diversion of
            management attention and resources, which could have a further negative effect on your
            investment in our stock.
Our issuance of common stock at a price below prevailing trading
            prices at the time of issuance may cause our stock price to decline.
As
            of December 10, 2007 there were outstanding options to
            purchase 18,479,000 shares of our common stock, with exercise prices ranging
            from $0.05 to $1.44 per share with a weighted average exercise price of $0.20 per
            share. Our 8% Senior Secured Convertible Notes are convertible into an
            additional 15,215,910 shares of common stock, at an exercise price of $0.22 per share.
            Also outstanding on December 10, 2007, were warrants for the purchase of 30,316,995
            shares of our common stock, having exercise prices ranging from $0.22 to $1.01 per
            share with a weighted average exercise price of $0.35 per share. These options,
            convertible notes and warrants, as well as other convertible
            securities that we may issue in the future, may result in shares being issued
            for consideration that is less than the trading price of our common stock at the time
            the shares are issued. We may also issue shares in the future at a discount to the
            trading price of our common stock. Any such below market issuances, or the potential
            for such issuances, could cause our stock price to decline.
Shares of our common stock may be subject to price illiquidity and
            volatility because our shares may continue to be thinly traded and may never become
            eligible for trading on Nasdaq or a national securities exchange.
Although a trading market for our common stock exists, the trading
            volume has not been significant and an active trading market for our common stock may
            never develop. There currently is no analyst coverage of our business.
            Because 69,303,189 shares are held by our corporate parent, an additional
            1,834,565 outstanding shares are beneficially owned by our officers and
            directors and a further 274,700 shares are otherwise not freely tradable because
            they were issued without registration under the Securities Act of 1933 and are not yet
            eligible for resale without restriction under Rule 144(k), the number of our shares
            currently available in the market is 51,468,286. During the period from November
            29, 2005 through September 30, 2007, the average daily trading volume of our common
            stock was approximately 54,000 shares (or approximately 0.16% of the shares
            currently
12
available in the market). The trading volume of our shares will
            continue to be limited due to resale restrictions under applicable securities laws and
            the fact that approximately 56.8% of our outstanding shares are held by our
            officers, directors or our parent and majority stockholder. As a result of
            the thin trading market for our common stock and the lack of analyst coverage, the
            market price for our shares may continue to fluctuate significantly and will likely be
            more volatile than the stock market as a whole. There may be a limited demand for
            shares of our common stock due to the reluctance or inability of certain investors to
            buy stocks quoted for trading on the OTC Bulletin Board, lack of analyst coverage of
            our common stock, and a negative perception by investors of stocks traded on the OTC
            Bulletin Board. As a result, even if prices appear favorable, there may not be
            sufficient demand to complete a stockholder's sell order. Without an active
            public trading market or broader public ownership, shares of our common stock are
            likely to be less liquid than the stock of most public companies, and any of our
            stockholders who attempt to sell their shares in any significant volumes may not be
            able to do so at all, or without depressing the publicly quoted bid prices for our
            shares.
While we may at some point be able to meet the requirements necessary
            for our common stock to be listed on the Nasdaq stock market or on another national
            securities exchange, we cannot assure you that we will ever achieve such a listing.
            Listing on one of the Nasdaq markets or one of the national securities exchanges is
            subject to a variety of requirements, including minimum trading price and minimum
            public "float" requirements, and could also be affected by the general
            skepticism of such markets concerning companies, such as us, that are the result
            of mergers with inactive publicly-held companies. There are also continuing eligibility
            requirements for companies listed on national securities exchanges. If we are unable to
            satisfy the initial or continuing eligibility requirements of any such market, then our
            stock may not be listed or could be delisted. This could result in a lower trading
            price for our common stock and may limit your ability to sell your shares, which could
            result in you losing some or all of your investments.
The so-called "penny stock rule" makes it cumbersome
            for brokers and dealers to trade in our common stock, making the market for our common
            stock less liquid which could cause the price of our stock to
            decline.
Trading of our common stock on the OTC Bulletin Board is subject to
            certain provisions of the Securities Exchange Act of 1934, commonly referred to as the
            "penny stock" rule. A penny stock is generally defined to be any equity
            security that has a market price less than $5.00 per share, subject to certain
            exceptions. Because our common stock has historically traded below $5.00 per share, it
            is deemed to be a penny stock, and consequently trading in our stock is subject to
            additional sales practice requirements on broker-dealers.
These require a broker-dealer to:
•
make a special suitability determination for purchasers of
                        our shares;
•
receive the purchaser's written consent to the
                        transaction prior to the purchase; and
•
deliver to a prospective purchaser of our stock, prior to
                        the first transaction, a risk disclosure document relating to the penny
                        stock market.
Consequently, the penny stock rules restrict the ability of
            broker-dealers to trade and/or maintain a market in our common stock. Also, prospective
            investors may not want to get involved with the additional administrative requirements
            which may have a material adverse effect on the trading of our shares.
The authorization and issuance of preferred stock may prevent or
            discourage a change in our management.
Our Articles of Incorporation authorize the Board of Directors to issue
            up to 10,000,000 shares of preferred stock without stockholder approval. Such shares
            will have terms, conditions, rights, preferences and designations as the Board may
            determine at the time of issuance. The rights of the holders of our common stock will
            be subject to, and may be adversely affected by, the rights of the holders of any
            preferred stock that may be issued in the future. The issuance of preferred stock,
            while providing desirable flexibility in connection with possible acquisitions and
            other
13
corporate purposes, could have the effect of discouraging a person from
            acquiring a majority of our outstanding common stock.
Certain provisions of Nevada law and of our corporate charter may
            inhibit a potential acquisition of us, and this could depress our stock
price.
Nevada corporate law includes provisions that could delay, defer or
            prevent a change in control of our company or our management. These provisions could
            discourage information contests and make it more difficult for you and other
            stockholders to elect directors and take other corporate actions. As a result, these
            provisions could limit the price that investors are willing to pay in the future for
            shares of our common stock. For example:
(i)
without prior stockholder approval, the Board of Directors
                        has the authority to issue one or more classes of preferred stock with
                        rights senior to those of common stock and to determine the rights,
                        privileges and inference of that preferred stock;
(ii)
there is no cumulative voting in the election of directors,
                        which would otherwise allow less than a majority of stockholders to elect
                        director candidates; and
(iii)
stockholders cannot call a special meeting of
                        stockholders.
14
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This prospectus contains forward-looking statements. All statements
            other than statements of historical facts contained in this prospectus, including
            statements regarding our future results of operations and financial position, business
            strategy and plans and objectives of management for future operations, are
            forward-looking statements. These statements involve known and unknown risks,
            uncertainties and other factors that may cause our actual results, performance or
            achievements to be materially different from any future results, performance or
            achievements expressed or implied by the forward-looking statements.
In some cases, you can identify forward-looking statements by terms such
            as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends,"
            "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential"
            or "continue" or the negative of these terms or other similar words. These statements
            are only predictions. We have based these forward-looking statements largely on our
            current expectations and projections about future events and financial trends that we
            believe may affect our business, financial condition and results of operations. We
            discuss many of the risks in greater detail under the heading "Risk Factors." Also,
            these forward-looking statements represent our estimates and assumptions only as of the
            date of this prospectus. Except as required by law, we assume no obligation to update
            any forward-looking statements after the date of this prospectus.
This prospectus also contains estimates and other statistical data made
            by independent parties and by us relating to market size and growth and other industry
            data. This data involves a number of assumptions and limitations, and you are cautioned
            not to give undue weight to such estimates. We have not independently verified the
            statistical and other industry data generated by independent parties and contained in
            this prospectus and, accordingly, we cannot guarantee their accuracy or completeness.
            In addition, projections, assumptions and estimates of our future performance and the
            future performance of the industries in which we operate are necessarily subject to a
            high degree of uncertainty and risk due to a variety of factors, including those
            described in "Risk Factors," "Management's Discussion and Analysis of Financial
            Condition and Results of Operation" and elsewhere in this prospectus. These and other
            factors could cause results to differ materially from those expressed in the estimates
            made by the independent parties and by us.
DETERMINATION OF OFFERING PRICE
The selling security holders may sell the common shares issued to them
            from time-to-time at prices and at terms then prevailing or at prices related to the
            then current market price, or in negotiated transactions.
USE OF PROCEEDS
This prospectus relates to sale of shares of common stock issuable upon
            exercise of currently outstanding stock options that may be offered and sold from time
            to time by the selling stockholders. We will receive the exercise price from the sale
            of shares to the selling stockholders when, and if, such selling stockholders exercise
            their stock options. Any proceeds received by us from the exercise of such stock
            options will be used for general working capital purposes.
15
SELLING STOCKHOLDERS
The selling shareholders named in this prospectus (the "Selling
            Shareholders") are offering all of the 17,000,000 shares offered through this
            prospectus pursuant to the exercise of stock options granted to the selling
            shareholders pursuant to our Amended and Restated
2007 Incentive
            Stock Plan.
A total of 17,000,000 shares of common stock have been reserved for
            issuance under all awards that may be granted under our Amended and
            Restated
2007 Incentive Stock Plan.
If, subsequent to the date of this reoffer prospectus, we grant any
            further awards under the Amended and Restated
2007 Incentive Stock
            Plan, to any eligible participants who are affiliates of our company (as defined in
            Rule 405 under the Securities Act), Instruction C of Form S-8 requires that we
            supplement this reoffer prospectus with the names of such affiliates and the amounts of
            securities to be reoffered by them as selling stockholders.
The following table provides, as of December 14, 2007 information
            regarding the beneficial ownership of our common shares held by each of the selling
            shareholders, including:
1.
the number of common shares owned by each selling
                        shareholder prior to this offering;
2.
the total number of common shares that are to be offered by
                        each selling shareholder;
3.
the total number of common shares that will be owned by each
                        selling shareholder upon completion of the offering; and
4.
the percentage owned by each selling shareholder.
Information with respect to beneficial ownership is based upon
            information obtained from the selling shareholders. Information with respect to "Shares
            Beneficially Owned Prior to the Offering" includes the shares issuable upon exercise of
            the stock options held by the selling shareholders to the extent these options are
            exercisable within 60 days of December 14, 2007. The "Number of Shares Being Offered"
            includes the common shares that may be acquired by the selling shareholders pursuant to
            the exercise of stock options granted to the selling shareholders pursuant to our
            Amended and Restated
2007 Incentive Stock Plan. Information with
            respect to "Shares Beneficially Owned After the Offering" assumes the sale of all of
            the common shares offered by this prospectus and no other purchases or sales of our
            common shares by the selling shareholders. Except as described below and to our
            knowledge, the named selling shareholder beneficially owns and has sole voting and
            investment power over all common shares or rights to these common shares.
16
Because the selling shareholders may offer all or part of the common
            shares currently owned or the common shares received upon exercise of the options,
            which they own pursuant to the offering contemplated by this reoffer prospectus, and
            because its offering is not being underwritten on a firm commitment basis, no estimate
            can be given as to the amount of options that will be held upon termination of this
            offering. The common shares currently owned and the common shares received upon
            exercise of the options offered by this reoffer prospectus may be offered from time to
            time by the selling shareholders named below.
Shares Beneficially Owned Prior to this Offering
                        (1)
Shares Being Offered (3)
Shares Beneficially Owned upon Completion of the Offering
                        (1)
Name and title
Number
Percent (2)
Number
Number
Percent (2)
Cathy A. Fleischer (4)
1,913,333
1.5%
1,200,000
713,333
*
Kent A. Tapper
750,000
*
750,000
-
*
Kathleen A. Browne (5)
500,000
*
200,000
300,000
*
Dina Borik (6)
63,334
*
50,000
13,334
*
Bryan D. Boscia (7)
158,333
*
150,000
8,333
*
Jeffrey Cole
100,000
*
100,000
-
*
Robert Corkery (8)
160,000
*
130,000
30,000
*
Robert Daly (9)
525,000
*
500,000
25,000
*
Emmanuel Giannelis (10)
160,000
*
130,000
30,000
*
Carolyn Hotchkiss (11)
60,000
*
10,000
50,000
*
Doug Kelley
300,000
*
300,000
-
*
Paul LeFrois (12)
594,000
*
400,000
194,000
*
Robert Kress (13)
316,667
*
300,000
16,667
*
Melissa Mahler (14)
2508,500
2.0%
1,000,000
1,508,500
1.2%
Ninetta McDonald (15)
75,000
*
25,000
50,000
*
Gregory Sichenzia
541,000
*
360,000
181,000
*
Aaron Wagner (16)
1,200,000
1.0%
1,000,000
200,000
*
All Officers, Consultants and Employees as a Group
                        (seventeen persons)
9,925,167
7.5%
6,605,000
3,320,167
2.5%
*
Less than 1%.
(1)
The number and percentage of shares beneficially owned is
                        determined in accordance with Rule 13d-3 of the Securities Exchange Act of
                        1934, as amended, and the information is not necessarily indicative of
                        beneficial ownership for any other purpose. Under such rule, beneficial
                        ownership includes any shares as to which the selling shareholder has sole
                        or shared voting power or investment power and also any shares, which the
                        selling shareholder has the right to acquire within 60 days.
(2)
Based upon 122,880,740 shares of common stock issued and
                        outstanding as of December 14, 2007.
(3)
Represents options to purchase shares of our common stock
                        issued under our Amended and Restated 2007 Incentive Stock Plan.
(4)
Includes options to purchase 713,333 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan.
(5)
Includes options to purchase 300,000 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan.
17
(6)
Includes options to purchase 13,334 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan.
(7)
Includes options to purchase 8,333 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan.
(8)
Includes options to purchase 30,000 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan.
(9)
Includes options to purchase 25,000 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan.
(10)
Includes options to purchase 30,000 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan.
(11)
Includes options to purchase 50,000 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan.
(12)
Includes options to purchase 194,000 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan.
(13)
Includes options to purchase 16,667 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan.
(14)
Includes options to purchase 1,320,000 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan held by Ms.
                        Mahler's spouse, Michael Duffy, for which Ms. Mahler disclaims
                        ownership.
(15)
Includes options to purchase 50,000 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan.
(16)
Includes options to purchase 200,000 shares of our common
                        stock which are exercisable within 60 days of December 14, 2007 from plans
                        other than the Amended and Restated 2007 Incentive Stock Plan.
Since our company does not currently meet the registrant requirements
            for use of Form S-3, the amount of common shares which may be resold by means of this
            reoffer prospectus by each of the selling stockholders, and any other person with whom
            he or she is acting in concert for the purpose of selling securities of our company,
            must not exceed, in any three month period, the amount specified in Rule 144(e)
            promulgated under the Securities Act.
18
PLAN OF DISTRIBUTION
Timing of Sales
Under our Amended and Restated
2007 Incentive Stock
            Plan (the "Plan"), we are authorized to issue up to 17,000,000 shares of
            our common stock.
Subject to the foregoing, the selling stockholders may offer and sell
            the shares covered by this prospectus at various times. The selling stockholders may
            offer and sell the shares covered by this prospectus at various times. The selling
            stockholders will act independently of our company in making decisions with respect to
            the timing, manner and size of each sale.
No Known Agreements to Resell the Shares
To our knowledge, no selling stockholder has any agreement or
            understanding, directly or indirectly, with any person to resell the common shares
            covered by this prospectus.
Offering Price
The sales price offered by the selling stockholders to the public may
            be:
1.
the market price prevailing at the time of sale;
2.
a price related to such prevailing market price;
                        or
3.
such other price as the selling shareholders determine from
                        time to time.
Manner of Sale
The common shares may be sold by means of one or more of the following
            methods:
1.
a block trade in which the broker-dealer so engaged will
                        attempt to sell the common shares as agent, but may position and resell a
                        portion of the block as principal to facilitate the transaction;
2.
Purchases by a broker-dealer as principal and resale by that
                        broker-dealer for its account pursuant to this prospectus;
3.
ordinary brokerage transactions in which the broker solicits
                        purchasers;
4.
through options, swaps or derivatives;
5.
in transactions to cover short sales;
6.
privately negotiated transactions; or
7.
in a combination of any of the above methods.
The selling shareholders may sell their common shares directly to
            purchasers or may use brokers, dealers, underwriters or agents to sell their common
            shares. Brokers or dealers engaged by the selling shareholders may arrange for other
            brokers or dealers to participate. Brokers or dealers may receive commissions,
            discounts or concessions from the selling shareholders, or, if any such broker-dealer
            acts as agent for the purchaser of common shares, from the purchaser in amounts to be
            negotiated immediately prior to the sale. The compensation received by brokers or
            dealers may, but is not expected to, exceed that which is customary for the types of
            transactions involved.
19
Broker-dealers may agree with a selling shareholder to sell a specified
            number of common shares at a stipulated price per common share, and, to the extent the
            broker-dealer is unable to do so acting as agent for a selling shareholder, to purchase
            as principal any unsold common shares at the price required to fulfill the
            broker-dealer commitment to the selling shareholder.
Broker-dealers who acquire common shares as principal may thereafter
            resell the common shares from time to time in transactions, which may involve block
            transactions and sales to and through other broker-dealers, including transactions of
            the nature described above, in the over-the-counter market or otherwise at prices and
            on terms then prevailing at the time of sale, at prices then related to the
            then-current market price or in negotiated transactions. In connection with resales of
            the common shares, broker-dealers may pay to or receive from the purchasers of shares
            commissions as described above.
If our selling shareholders enter into arrangements with brokers or
            dealers, as described above, we are obligated to file a post-effective amendment to
            this registration statement disclosing such arrangements, including the names of any
            broker-dealers acting as underwriters.
The selling shareholders and any broker-dealers or agents that
            participate with the selling shareholders in the sale of the common shares may be
            deemed to be "underwriters" within the meaning of the Securities Act. In that event,
            any commissions received by broker-dealers or agents and any profit on the resale of
            the common shares purchased by them may be deemed to be underwriting commissions or
            discounts under the Securities Act.
Sales Pursuant to Rule 144
Any common shares covered by this prospectus which qualify for sale
            pursuant to Rule 144 under the Securities Act may be sold under Rule 144 rather than
            pursuant to this prospectus.
Accordingly, during such times as a selling shareholder may be deemed to
            be engaged in a distribution of the common stock, and therefore be considered to be an
            underwriter, the selling shareholder must comply with applicable law and, among other
            things:
1.
may not engage in any stabilization activities in connection
                        with our common stock;
2.
may not cover short sales by purchasing shares while the
                        distribution is taking place; and
3.
may not bid for or purchase any of our securities or attempt
                        to induce any person to purchase any of our securities other than as
                        permitted under the Exchange Act.
In addition, we will make copies of this prospectus available to the
            selling shareholders for the purpose of satisfying the prospectus delivery requirements
            of the Securities Act.
Penny Stock Rules
The SEC has adopted regulations which generally define "penny stock" to
            be any equity security that has a market price (as defined) of less than $5.00 per
            share or an exercise price of less than $5.00 per share, subject to certain exceptions.
            Our securities are covered by the penny stock rules, which impose additional sales
            practice requirements on broker-dealers who sell to persons other than established
            customers and "institutional accredited investors." The term "institutional accredited
            investor" refers generally to those accredited investors who are not natural persons
            and fall into one of the categories of accredited investor specified in subparagraphs
            (1), (2), (3), (7) or (8) of Rule 501 of Regulation D promulgated under the
            Securities Act, including institutions with assets in excess of $5,000,000.
The penny stock rules require a broker-dealer, prior to a transaction in
            a penny stock not otherwise exempt from the rules, to deliver a standardized risk
            disclosure document in a form required by the Securities and Exchange Commission,
            obtain from the customer a signed and dated acknowledgement of receipt of the
            disclosure document
20
and
            to wait two business days before effecting the transaction. The risk disclosure
            document provides information about penny stocks and the nature and level of risks in
            the penny stock market. The broker-dealer also must provide the customer with current
            bid and offer quotations for the penny stock, the compensation of the broker-dealer and
            its salesperson in the transaction and monthly account statements showing the market
            value of each penny stock held in the customer's account.
The bid and offer quotations, and the broker-dealer and salesperson
            compensation information, must be given to the customer orally or in writing prior to
            effecting the transaction and must be given to the customer in writing before or with
            the customer's confirmation. In addition, the penny stock rules require that prior to a
            transaction in a penny stock not otherwise exempt from these rules, the broker-dealer
            must make a special written determination that the penny stock is a suitable investment
            for the purchaser and receive the purchaser's written agreement to the
            transaction.
These disclosure requirements may have the effect of reducing the level
            of trading activity in the secondary market for the stock that is subject to these
            penny stock rules. Consequently, these penny stock rules may affect the ability of
            broker-dealers to trade our securities. We believe that the penny stock rules
            discourage investor interest in and limit the marketability of our common
            stock.
State Securities Laws
Under the securities laws of some states, the common shares may be sold
            in such states only through registered or licensed brokers or dealers. In addition, in
            some states the common shares may not be sold unless the shares have been registered or
            qualified for sale in the state or an exemption from registration or qualification is
            available and is complied with.
Expenses of Registration
We are bearing all costs relating to the registration of the common
            stock. These expenses are estimated to be $10,000, including, but not limited to,
            legal, accounting, printing and mailing fees. The selling shareholders, however, will
            pay any commissions or other fees payable to brokers or dealers in connection with any
            sale of the common stock.
LEGAL MATTERS
The validity of the common stock has been passed upon by Sichenzia Ross
            Friedman Ference LLP, New York, New York. Certain members of Sichenzia Ross Friedman
            Ference LLP will receive 360,000 shares of the Company's common stock under this
            registration statement to be issued as compensation for legal services.
EXPERTS
The financial statements of NaturalNano, Inc. and subsidiary as of
            December 31, 2006 and 2005, and for the years then ended, have been incorporated by
            reference herein and in the registration statement in reliance upon the report of
            Goldstein Golub Kessler LLP, an independent registered public accounting firm, upon the
            authority of said firm as experts in accounting and auditing.
21
INCORPORATION OF CERTAIN DOCUMENTS
BY
            REFERENCE
The Securities and Exchange Commission ("SEC") allows us to
            incorporate by reference certain of our publicly filed documents into this prospectus,
            which means that such information is considered part of this prospectus. Information
            that we file with the SEC subsequent to the date of this prospectus will automatically
            update and supersede this information. We incorporate by reference the documents listed
            below and any future filings made with the SEC under all documents subsequently filed
            by us pursuant to Section 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of
            1934 until the selling stockholders have sold all of the shares offered hereby or such
            shares have been deregistered.
The following documents filed with the SEC are incorporated herein by
            reference:
•
Reference is made to our annual report on Form 10-KSB for
                        the fiscal year ended December 31, 2006, as filed with the SEC on April 2,
                        2007, which is hereby incorporated by reference.
•
Reference is made to our report on Form 8-K as filed with
                        the SEC on May 10, 2007, which is hereby incorporated by
                        reference.
•
Reference is made to our quarterly report on Form 10-QSB for
                        the fiscal year ended March 31, 2007, as filed with the SEC on May 15,
                        2007, which is hereby incorporated by reference.
•
Reference is made to our report on Form 8-K as filed with
                        the SEC on June 7, 2007, which is hereby incorporated by
                        reference.
•
Reference is made to our report on Form 8-K as filed with
                        the SEC on July 26, 2007, which is hereby incorporated by
                        reference.
•
Reference is made to Amendment No. 1 to our report on Form
                        8-K (filed December 5, 2005), as filed with the SEC on August 8, 2007,
                        which is hereby incorporated by reference.
•
Reference is made to our quarterly report on Form 10-QSB for
                        the quarter ended June 30, 2007, as filed with the SEC on August 13, 2007,
                        which is hereby incorporated by reference.
•
Reference is made to our report on Form 8-K as filed with
                        the SEC on September 4, 2007, which is hereby incorporated by
                        reference.
•
Reference is made to our report on Form 8-K as filed with
                        the SEC on October 2, 2007, which is hereby incorporated by
                        reference.
•
Reference is made to our report on Form 8-K as filed with
                        the SEC on October 9, 2007, which is hereby incorporated by
                        reference.
•
Reference is made to our report on Form 8-K as filed with
                        the SEC on October 25, 2007, which is hereby incorporated by
                        reference.
•
Reference is made to our quarterly report on Form 10-QSB/A
                        for the quarter ended June 30, 2007, as filed with the SEC on November 6,
                        2007, which is hereby incorporated by reference.
•
Reference is made to our quarterly report on Form 10-QSB/A
                        for the quarter ended March 31, 2007, as filed with the SEC on November 6,
                        2007, which is hereby incorporated by reference.
•
Reference is made to our quarterly report on Form 10-QSB for
                        the quarter ended September 30, 2007, as filed with the SEC on November 14,
                        2007, which is hereby incorporated by reference.
•
Reference is made to our report on Form 8-K as filed with
                        the SEC on December 6, 2007, which is hereby incorporated by
                        reference.
•
Reference is made to our report on Form 8-K as filed with
                        the SEC on December 7, 2007, which is hereby incorporated by
                        reference.
•
The description of our common stock is incorporated by
                        reference to our Registration Statement on Form SB-2, filed with the SEC on
                        April 5, 2006.
We will provide without charge to each person to whom a copy of this
            prospectus has been delivered, on written or oral request a copy of any or all of the
            documents incorporated by reference in this prospectus, other than exhibits to such
            documents. Written or oral requests for such copies should be directed to Cathy A.
            Fleischer.
22
DISCLOSURE OF COMMISSION POSITION ON
            INDEMNIFICATION
FOR SECURITIES ACT LIABILITIES
As permitted by the Nevada Revised Business Corporations Act, we have
            adopted provisions in our certificate of incorporation and by-laws to be in effect at
            the closing of this offering that limit or eliminate the personal liability of our
            directors.
Our articles of incorporation and bylaws provide that we will indemnify
            our directors and officers and may indemnify our employees or agents to the fullest
            extent permitted by law against liabilities and expenses incurred in connection with
            litigation in which they may be involved because of their offices. However, nothing in
            our articles of incorporation or bylaws protects or indemnifies a director, officer,
            employee or agent against any liability to which he would otherwise be subject by
            reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the
            duties involved in the conduct of his or her office. To the extent that a director has
            been successful in defense of any proceeding, the Nevada Revised Business Corporations
            Act provides that he or she shall be indemnified against reasonable expenses incurred
            in connection with the proceeding.
ADDITIONAL INFORMATION AVAILABLE TO YOU
This prospectus is part of a Registration Statement on Form S-8 that we
            filed with the SEC. Certain information in the Registration Statement has been omitted
            from this prospectus in accordance with the rules of the SEC. We file annual, quarterly
            and special reports, proxy statements and other information with the SEC. You can
            inspect and copy the Registration Statement as well as reports, proxy statements and
            other information we have filed with the SEC at the public reference room maintained by
            the SEC at 100 F Street N.E. Washington, D.C. 20549, You can obtain copies from the
            public reference room of the SEC at 100 F Street N.E. Washington, D.C. 20549, upon
            payment of certain fees. You can call the SEC at 1-800-732-0330 for further information
            about the public reference room. We are also required to file electronic versions of
            these documents with the SEC, which may be accessed through the SEC's World Wide Web
            site at http://www.sec.gov. No dealer, salesperson or other person is authorized to
            give any information or to make any representations other than those contained in this
            prospectus, and, if given or made, such information or representations must not be
            relied upon as having been authorized by us. This prospectus does not constitute an
            offer to buy any security other than the securities offered by this prospectus, or an
            offer to sell or a solicitation of an offer to buy any securities by any person in any
            jurisdiction where such offer or solicitation is not authorized or is unlawful. Neither
            delivery of this prospectus nor any sale hereunder shall, under any circumstances,
            create any implication that there has been no change in the affairs of our company
            since the date hereof.
23
NATURALNANO, INC.
17,000,000 SHARES OF COMMON STOCK
PROSPECTUS
December 17, 2007
24
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The Registrant hereby incorporates by reference into this Registration
            Statement the documents listed below. In addition, all documents subsequently filed
            pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934
            (the "Exchange Act"), prior to the filing of a post-effective amendment
            which indicates that all securities offered have been sold or which deregisters all
            securities then remaining unsold, shall be deemed to be incorporated by reference into
            this Registration Statement and to be a part hereof from the date of filing of such
            documents:
•
Reference is made to our annual report on Form 10-KSB for
                        the fiscal year ended December 31, 2006, as filed with the SEC on April 2,
                        2007, which is hereby incorporated by reference.
•
Reference is made to our report on Form 8-K as filed with
                        the SEC on May 10, 2007, which is hereby incorporated by
                        reference.
•
Reference is made to our quarterly report on Form 10-QSB for
                        the fiscal year ended March 31, 2007, as filed with the SEC on May 15,
                        2007, which is hereby incorporated by reference.
•
Reference is made to our report on Form 8-K as filed with
                        the SEC on June 7, 2007, which is hereby incorporated by
                        reference.
•
Reference is made to our report on Form 8-K as filed with
                        the SEC on July 26, 2007, which is hereby incorporated by
                        reference.
•
Reference is made to Amendment No. 1 to our report on Form
                        8-K (filed December 5, 2005), as filed with the SEC on August 8, 2007,
                        which is hereby incorporated by reference.
•
Reference is made to our quarterly report on Form 10-QSB for
                        the quarter ended June 30, 2007, as filed with the SEC on August 13, 2007,
                        which is hereby incorporated by reference.
•
Reference is made to our report on Form 8-K as filed with
                        the SEC on September 4, 2007, which is hereby incorporated by
                        reference.
•
Reference is made to our report on Form 8-K as filed with
                        the SEC on October 2, 2007, which is hereby incorporated by
                        reference.
•
Reference is made to our report on Form 8-K as filed with
                        the SEC on October 9, 2007, which is hereby incorporated by
                        reference.
•
Reference is made to our report on Form 8-K as filed with
                        the SEC on October 25, 2007, which is hereby incorporated by
                        reference.
•
Reference is made to our quarterly report on Form 10-QSB/A
                        for the quarter ended June 30, 2007, as filed with the SEC on November 6,
                        2007, which is hereby incorporated by reference.
•
Reference is made to our quarterly report on Form 10-QSB/A
                        for the quarter ended March 31, 2007, as filed with the SEC on November 6,
                        2007, which is hereby incorporated by reference.
•
Reference is made to our quarterly report on Form 10-QSB for
                        the quarter ended September 30, 2007, as filed with the SEC on November 14,
                        2007, which is hereby incorporated by reference.
•
Reference is made to our report on Form 8-K as filed with
                        the SEC on December 6, 2007, which is hereby incorporated by
                        reference.
•
Reference is made to our report on Form 8-K as filed with
                        the SEC on December 7, 2007, which is hereby incorporated by
                        reference.
•
The description of our common stock is incorporated by
                        reference to our Registration Statement on Form SB-2, filed with the SEC on
                        April 5, 2006.
Item 4. Description of Securities.
Not applicable.
25
Item 5. Interests of Named Experts and Counsel.
No expert or counsel named in this prospectus as having prepared or
            certified any part of this prospectus or having given an opinion upon the validity of
            the securities being registered or upon other legal matters in connection with the
            registration or offering of the common stock was employed on a contingency basis or
            had, or is to receive, in connection with the offering, a substantial interest,
            directly or indirectly, in the registrant or any of its parents or subsidiaries,
            provided that certain members of Sichenzia Ross Friedman Ference LLP will receive
            360,000 shares of the Company's common stock under this registration statement to
            be issued as compensation for legal services.
Item 6. Indemnification of Directors and Officers.
As permitted by the Nevada Revised Business Corporations Act, we have
            adopted provisions in our certificate of incorporation and by-laws to be in effect at
            the closing of this offering that limit or eliminate the personal liability of our
            directors.
Our articles of incorporation and bylaws provide that we will indemnify
            our directors and officers and may indemnify our employees or agents to the fullest
            extent permitted by law against liabilities and expenses incurred in connection with
            litigation in which they may be involved because of their offices. However, nothing in
            our articles of incorporation or bylaws protects or indemnifies a director, officer,
            employee or agent against any liability to which he would otherwise be subject by
            reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the
            duties involved in the conduct of his or her office. To the extent that a director has
            been successful in defense of any proceeding, the Nevada Revised Business Corporations
            Act provides that he or she shall be indemnified against reasonable expenses incurred
            in connection with the proceeding.
Item 7. Exemption from Registration Claimed.
The 7,000,000 shares of common stock to be sold by the selling
            stockholders pursuant to this Registration Statement are issuable upon exercise of
            outstanding stock options issued pursuant to the Company's Amended and
            Restated
2007 Incentive Stock Plan. The stock options were issued
            pursuant to the exemption from registration provided by Section 4(2) of the Securities
            Act of 1933, as amended.
Item 8. Exhibits.
Exhibit Number
Description
5.1
Opinion of Sichenzia Ross Friedman Ference LLP
4.1
NaturalNano, Inc. Amended and
                        Restated
2007 Incentive Stock Plan
23.1
Consent of Sichenzia Ross Friedman Ference LLP (included in
                        Exhibit 5.1)
23.2
Consent of Goldstein Golub Kessler LLP
Item 9. Undertakings.
(1)
The undersigned Registrant hereby undertakes to:
(a) File, during any period in which it offers or sells securities, a
            post-effective amendment to this Registration Statement to include any additional or
            changed material information on the plan of distribution.
(b) For determining liability under the Securities Act, treat each
            post-effective amendment as a new registration statement of the securities offered, and
            the offering of the securities at the time to be the initial
bona fide
offering.
26
(c) File a post-effective amendment to remove from registration any of
            the securities that remain unsold at the end of the offering.
(2) The undersigned Registrant hereby undertakes that, for the purposes
            of determining any liability under the Securities Act, each filing of the Registrant's
            annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and,
            where applicable, each filing of an employee benefit plan's annual report pursuant to
            Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference
            in the Registration Statement shall be deemed to be a new registration statement
            relating to the securities offered therein, and the offering of such securities at that
            time shall be deemed to be the initial bona fide offering thereof.
(3) Insofar as indemnification for liabilities arising under the
            Securities Act of 1933 may be permitted to directors, officers and controlling persons
            of the registrant pursuant to the foregoing provisions, or otherwise, the registrant
            has been advised that in the opinion of the Securities and Exchange Commission such
            indemnification is against public policy as expressed in the Act and is, therefore,
            unenforceable. In the event that a claim for indemnification against such liabilities
            (other than the payment by the registrant of expenses incurred or paid by a director,
            officer, or controlling person of the registrant in the successful defense of any
            action, suit or proceeding) is asserted by such director, officer or controlling person
            in connection with the securities being registered, the registrant will, unless in the
            opinion of its counsel the matter has been settled by controlling precedent, submit to
            a court of appropriate jurisdiction the question whether such indemnification by it is
            against public policy as expressed in the Act and will be governed by the final
            adjudication of such issue.
27
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the
            Registrant certifies that it has reasonable grounds to believe that it meets all of the
            requirements for filing on Form S-8 and has duly caused this registration statement to
            be signed on its behalf by the undersigned, thereunto duly authorized, in the Town of
            Pittsford, New York, on December 17, 2007.
NATURALNANO, INC.
By:
/s/Cathy A. Fleischer
Cathy A. Fleischer
President and Chief Technology Officer
By:
/s/Kent A. Tapper
Kent A. Tapper
Chief Financial Officer, Secretary and Treasurer
Pursuant to the requirements of the Securities Act of 1933, this
            registration statement has been signed by the following persons in the capacities and
            on the date indicated:
Signature
Title
Date
/s/Cathy A. Fleischer
President, Chief Technology Officer
December 17, 2007
Cathy A. Fleischer
and Director (Principal Executive Officer)
/s/Kent A. Tapper
Chief Financial Officer, Secretary and Treasurer (Principal
                        Financial Officer and Principal Accounting Officer)
December 17, 2007
Kent A. Tapper
/s/Gary W. Beall
Director
December 17, 2007
Gary W. Beall
/s/John F. Lanzafame
Director
December 17, 2007
John F. Lanzafame
Director
December 17, 2007
Sharell Mikesell
/s/Klaus E. T. Siebert
Director
December 17, 2007
Klaus E. T. Siebert
Director
December 17, 2007
James Wemett
28