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        URANIUM ENERGY CORP. Form S-8
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman"><strong>U.S.
        SECURITIES AND EXCHANGE COMMISSION </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Washington,
        D.C. 20549</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman"><strong>FORM
        S-8 </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>REGISTRATION
        STATEMENT UNDER THE SECURITIES </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ACT
        OF 1933, AS AMENDED </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman"><strong><u>URANIUM
        ENERGY CORP.</u></strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
        name of small business issuer as specified in its charter) </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div align="center">
        <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">
  
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><u>&#160;<font size="2">NEVADA</font></u></div>
              </td>
              <td width="50%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><u>&#160;<font size="2">&#160;98-0399476</font></u></div>
              </td>
            </tr>
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              <td width="50%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">(State
                  or other jurisdiction of
                  incorporation of organization) </font></div>
              </td>
              <td width="50%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(I.R.S.
                  Employer Identification No.)</font></div>
              </td>
            </tr>
  
        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div>&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Austin
          Centre </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">710
          Brazos, Suite 500 PMB#</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Austin,
          Texas 78701</u></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
          of Principal Executive Offices)</font></div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>n/a</u></strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Former
        name, address and fiscal year, if </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">changed
        since last report) </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>2005
        Stock Option Plan for Uranium Energy Corp.</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Full
        title of the plan) </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Diane
        D.
        Dalmy </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attorney
        at Law </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8965
        W.
        Cornell Place </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Lakewood,
        Colorado 80227 </u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Name
        and
        address of agent for service) </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>303.985.9324
        </u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Telephone
        number, including area code, </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">of
        agent
        for service) </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CALCULATION
        OF REGISTRATION FEE </strong></font><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
        <div>
          <table cellpadding="0" cellspacing="0" width="100%">
  
              <tr>
                <td valign="bottom" width="20%" style="border-bottom: black thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Title
                    of&#160;&#160;Securities&#160; To be</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registered</font></div>
                </td>
                <td valign="bottom" width="20%" style="border-bottom: black thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Amount&#160;&#160;
                    to be&#160; Registered </font></div>
                </td>
                <td valign="bottom" width="20%" style="border-bottom: black thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Proposed
                    maximum</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">offering
                    price per share</font></div>
                </td>
                <td valign="bottom" width="20%" style="border-bottom: black thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Proposed
                    maximum </font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">aggregate
                    offering </font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">price</font></div>
                </td>
                <td valign="bottom" width="20%" style="border-bottom: black thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Amount
                    of</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">registration
                    </font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">fee
                    </font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="20%" style="border-bottom: black thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Common
                    Stock</font></div>
                </td>
                <td valign="top" width="20%" style="border-bottom: black thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;1,500,000</font></div>
                </td>
                <td align="left" valign="top" width="20%" style="border-bottom: black thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;$1.00
                    (1)</font></div>
                </td>
                <td align="left" valign="top" width="20%" style="border-bottom: black thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;$1,500,000
                    (2) </font></div>
                </td>
                <td valign="top" width="20%" style="border-bottom: black thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;$160.50</font></div>
                </td>
              </tr>
  
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        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(1)</font></div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Estimated
            solely for the purpose of computing the registration fee pursuant to Rule
            457(c)
            and (h) under the Securities Act of 1933, as amended. The Proposed Maximum
            Offering Price per Share was determined by the Board of Directors and set
            contractually. As of the date of this Registration Statement, an aggregate
            of
            6,510,000 stock options have been granted, 1,500,000 stock options have
            been
            exercised, and 5,010,000 stock options remain issued and outstanding.
  </font></div>
        </div>
      </div>
      <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(2)
        </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
        Registration Statement relates to such indeterminate number of additional shares
        of Common Stock of Uranium Energy Corp. (the "Company") as may be issuable
        as a
        result of stock splits, stock dividends or similar transactions. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">1</div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>PART
        II. INFORMATION REQUIRED IN THE REGISTRATION STATEMENT </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ITEM
        3. INCORPORATION OF DOCUMENTS BY REFERENCE. </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        following documents, filed with or furnished to the Securities and Exchange
        Commission, are incorporated in this Registration Statement by reference:
  </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)
        the
        latest annual report of the Company filed on Form 10-KSB pursuant to Section
        13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange
        Act"). </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)
        all
        other reports filed by the Company pursuant to Section 13(a) or 15(d) of the
        Exchange Act since the end of the fiscal year covered by the annual report
        on
        Form 10-K referred to in (a) above. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iii)
        the
        registration statement of the Company filed on Form 10-SB pursuant to Section
        12(g) of the Exchange Act. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iv)
        The
        description of securities which is contained in the registration statement
        on
        Form 10-SB filed by the Company pursuant to Section 12 of the Exchange Act,
        including any amendment or report filed for the purpose of updating such
        description </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">All
        documents subsequently filed by the Company pursuant to Section 13(a), 13(c),
        14
        and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment
        which either indicates that all securities offered have been sold or deregisters
        all securities then remaining unsold, shall be deemed to be incorporated by
        reference in this Registration Statement and to be a part hereof from the date
        of filing such documents. Any statement contained in a document incorporated
        or
        deemed to be incorporated by reference herein shall be deemed to be modified
        or
        superseded for purposes of this prospectus to the extent that a statement
        contained herein or in any other subsequently filed document which also is
        incorporated or deemed to be incorporated by reference herein modifies or
        supersedes such statement. Any such statement so modified or superseded shall
        not be deemed, except as so modified or superseded, to constitute a part of
        this
        prospectus. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ITEM
        4. DESCRIPTION OF SECURITIES. </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        class
        of securities to be offered is registered under Section 12 of the Exchange
        Act.
  </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ITEM
        5. INTERESTS OF NAMED EXPERTS AND COUNSEL </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        validity of the securities being registered will be passed upon by Diane D.
        Dalmy, Esq., General Counsel to the Company, 8965 W. Cornell Place, Lakewood,
        Colorado 80227. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">None
        of
        the experts named in the Registration Statement as having prepared or certified
        a report or counsel for the Company named in the Registration Statement as
        having given an opinion upon the validity of the securities being registered
        or
        upon other legal matters in connection with the registration of offering of
        such
        securities have or will receive in connection with the offering a substantial
        interest, direct or indirect, in the Company or its subsidiary, if any, nor
        was
        connected with the Company or its subsidiary, if any, as a promoter, managing
        underwriter, voting trustee, director, officer or employee. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>2</u></font></div>
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ITEM
        6. INDEMNIFICATION OF DIRECTORS AND OFFICERS. </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Section
        78.7502 of the Nevada Revised Statutes contains provisions for indemnification
        of the officers and directors of the Company. Nevada law provides for
        indemnification (which may eliminate any personal liability of a director to
        the
        Company or its shareholders for monetary damages for gross negligence or lack
        of
        care in carrying out the director's fiduciary duties) if a director or officer
        acts in good faith in a manner reasonably believed to be in, or not opposed
        to,
        the best interests of the Company. A director or officer may be indemnified
        as
        to any matter in which he successfully defends himself. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        officers and directors of the Company are accountable to the shareholders of the
        Company as fiduciaries, which means such officers and directors are required
        to
        exercise good faith and integrity in handling the Company's affairs.
  </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
        shareholder may be able to institute legal action on behalf of himself and
        all
        other similarly situated shareholders to recover damages where the Company
        has
        failed or refused to observe the law. Shareholders may, subject to applicable
        rules of civil procedure, be able to bring a class action or derivative suit
        to
        enforce their rights, including rights under certain federal and state
        securities laws and regulations. Shareholders who have suffered losses in
        connection with the purchase or sale of their interest in the Company due to
        a
        breach of a fiduciary duty by an officer or director of the Company in
        connection with such sale or purchase including, but not limited to, the
        misapplication by any such officer or director of the proceeds from the sale
        of
        any securities, may be able to recover such losses from the Company.
  </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Insofar
        as indemnification for liabilities arising under the Securities Act may be
        permitted to directors, officers and controlling persons of the Company pursuant
        to the foregoing provisions, or otherwise, the Company has been advised that
        in
        the opinion of the Commission such indemnification is against public policy
        as
        expressed in the Securities Act and is, therefore, unenforceable. In the event
        that a claim for indemnification against such liabilities (other than the
        payment by the Company of expenses incurred or paid by a director, officer
        or
        controlling person of the Company in the successful defense or any action,
        suit
        or proceeding) is asserted by such director, officer or controlling person
        in
        connection with the securities being registered, the Company will, unless in
        the
        opinion of its counsel the matter has been settled by controlling precedent,
        submit to a court of appropriate jurisdiction the question whether such
        indemnification by it is against public policy as expressed in the Securities
        Act and will be governed by the final adjudication of such issue. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company has no agreements with any of its directors or executive officers
        providing for indemnification of any such persons with respect to liability
        arising out of their capacity or status as officers and directors. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">At
        present, there is no pending litigation or proceeding involving a director
        or
        executive officers of the Company as to which indemnification is being sought.
        </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">3</div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ITEM
        7. EXEMPTION FROM REGISTRATION CLAIMED. </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
        the
        event certain Stock Options issued under the Stock Option Plan are not
        registered pursuant to this Registration Statement, the shares of Common Stock
        to be issued pursuant to an exercise of such Stock Option shall be issued in
        reliance upon the exemption from the registration requirements of the Securities
        Act of 1933, as amended, contained in Section 4(2) thereof, covering
        transactions not involving any public offering or not involving any "offer"
        or
        "sale". </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
        such
        event, each optionee, as a condition of exercise, shall represent, warrant
        and
        agree in a form of written certificate approved by the Company that (i) all
        shares of Common Stock are being acquired solely for his own account and not
        on
        behalf of any other person or entity; (ii) no shares of Common Stock will be
        sold or otherwise distributed in violation of the Securities Act of 1933, as
        amended, or any other applicable federal or state securities laws; (iii) if
        he
        is subject to reporting requirements under Section 16(a) of the Securities
        Exchange Act of 1934, as amended, he will (a) furnish the Company with a copy
        of
        each Form 4 filed by him and (b) timely file all reports required under the
        federal securities laws; and (iv) he will report all sales of shares of Common
        Stock to the Company in writing. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ITEM
        8. EXHIBITS </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        following documents are filed as exhibits to this Registration Statement:
  </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.1
        Opinion of Diane D. Dalmy, as counsel to the Company, regarding the legality
        of
        the securities being registered. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">23.1
        Consent of Diane D. Dalmy, as counsel to the Company, included in the Opinion
        as
        exhibit 5.1. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">23.2
        Consent of Dale Matheson Carr-Hilton LaBonte as independent public accountants.
        </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1
        2005
        Stock Option Plan. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ITEM
        9. UNDERTAKINGS. </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        undersigned registrant hereby undertakes to deliver or cause to be delivered
        with the prospectus to each employee to whom the prospectus is sent or given
        a
        copy of the registrant's annual report to stockholders for its last fiscal
        year,
        unless such employee otherwise has received a copy of such report, in which
        case
        the registrant shall state in the prospectus that it will promptly furnish,
        without charge, a copy of such report on written request of the employee.
  </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        undersigned registrant hereby undertakes to transmit or cause to be transmitted
        to all employees participating in the plan who do not otherwise receive such
        material as stockholders of the registrant, at the time and in the manner such
        material is sent to its stockholders, copies of all reports, proxy statements
        and other communications distributed to its stockholders generally.
  </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        undersigned registrant hereby undertakes (i) to file, during any period in
        which
        offers or sales are being made, a post-effective amendment to this Registration
        Statement, if applicable, to include any material information with respect
        to
        the plan of distribution not previously disclosed in the Registration Statement
        or any material change to such information in the Registration Statement; (ii)
        that, for the purpose of determining any liability under the Securities Act
        of
        1933, as amended, each such post-effective amendment shall be deemed to be
        a new
        registration statement relating to the securities offered therein, and the
        offering of such securities at that time shall be deemed to be the initial
        bona
        fide offering thereof; and (iii) to remove from registration by means of a
        post-effective amendment any of the securities being registered which remain
        unsold at the termination of the offering. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        undersigned Registrant hereby undertakes that, for 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 annual report pursuant
        to Section 15(d) of the Exchange Act) 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></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Insofar
        as indemnification for liabilities arising under the Securities Act 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 Commission such indemnification is against
        public policy as expressed in the Securities 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 or 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 Securities Act and will be governed by the final
        adjudication of such issue. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">4</div>
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">&#160;</div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SIGNATURES
        </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
        to the requirements of the Securities Act of 1933, as amended, 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 City of Blaine, State of Washington, on April 19, 2006.
        </font><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>URANIUM
          ENERGY CORP. </strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
        <div>
          <table cellpadding="0" cellspacing="0" width="100%">
  
              <tr>
                <td align="left" valign="middle" width="23%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<u>By:
                    /s/ Amir Adnani</u></em></font></div>
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              </tr>
  
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  April
        19, 2006
  </em></font></div>
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        19, 2006
  </em></font></div>
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        Lindsay </em></font></div>
      <div>&#160;</div>
      <div>
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          19,
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          Anthony</em></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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metadata_documents: [{"type": "S-8", "sequence": "1", "filename": "uranium_s8.htm", "description": "URANIUM ENERGY CORP. FORM S-8", "secsgml_size_bytes": 63951}]
metadata_filer: {"company-data": {"conformed-name": "URANIUM ENERGY CORP", "cik": "0001334933", "assigned-sic": "1090", "irs-number": "980399476", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-133491", "film-number": "06774466"}, "business-address": {"street1": "AUSTIN CENTER", "street2": "701 BRAZOS, SUITE 500 PMB#", "city": "AUSTIN", "state": "TX", "zip": "78701", "phone": "512-721-1022"}, "mail-address": {"street1": "AUSTIN CENTER", "street2": "701 BRAZOS, SUITE 500 PMB#", "city": "AUSTIN", "state": "TX", "zip": "78701"}}
text: URANIUM ENERGY CORP. Form S-8
  U.S.
        SECURITIES AND EXCHANGE COMMISSION
  Washington,
        D.C. 20549
  FORM
        S-8
  REGISTRATION
        STATEMENT UNDER THE SECURITIES
  ACT
        OF 1933, AS AMENDED
  URANIUM
        ENERGY CORP.
  (Exact
        name of small business issuer as specified in its charter)
  NEVADA
  98-0399476
  (State
                  or other jurisdiction of
                  incorporation of organization)
  (I.R.S.
                  Employer Identification No.)
  Austin
          Centre
  710
          Brazos, Suite 500 PMB#
  Austin,
          Texas 78701
  (Address
          of Principal Executive Offices)
  n/a
  (Former
        name, address and fiscal year, if
  changed
        since last report)
  2005
        Stock Option Plan for Uranium Energy Corp.
  (Full
        title of the plan)
  Diane
        D.
        Dalmy
  Attorney
        at Law
  8965
        W.
        Cornell Place
  Lakewood,
        Colorado 80227
  (Name
        and
        address of agent for service)
  303.985.9324
  (Telephone
        number, including area code,
  of
        agent
        for service)
  CALCULATION
        OF REGISTRATION FEE
  Title
                    of  Securities  To be
  Registered
  Amount  
                    to be  Registered
  Proposed
                    maximum
  offering
                    price per share
  Proposed
                    maximum
  aggregate
                    offering
  price
  Amount
                    of
  registration
  fee
  Common
                    Stock
  1,500,000
  $1.00
                    (1)
  $1,500,000
                    (2)
  $160.50
  (1)
  Estimated
            solely for the purpose of computing the registration fee pursuant to Rule
            457(c)
            and (h) under the Securities Act of 1933, as amended. The Proposed Maximum
            Offering Price per Share was determined by the Board of Directors and set
            contractually. As of the date of this Registration Statement, an aggregate
            of
            6,510,000 stock options have been granted, 1,500,000 stock options have
            been
            exercised, and 5,010,000 stock options remain issued and outstanding.
  (2)
  This
        Registration Statement relates to such indeterminate number of additional shares
        of Common Stock of Uranium Energy Corp. (the "Company") as may be issuable
        as a
        result of stock splits, stock dividends or similar transactions.
  1
  PART
        II. INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
  ITEM
        3. INCORPORATION OF DOCUMENTS BY REFERENCE.
  The
        following documents, filed with or furnished to the Securities and Exchange
        Commission, are incorporated in this Registration Statement by reference:
  (i)
        the
        latest annual report of the Company filed on Form 10-KSB pursuant to Section
        13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange
        Act").
  (ii)
        all
        other reports filed by the Company pursuant to Section 13(a) or 15(d) of the
        Exchange Act since the end of the fiscal year covered by the annual report
        on
        Form 10-K referred to in (a) above.
  (iii)
        the
        registration statement of the Company filed on Form 10-SB pursuant to Section
        12(g) of the Exchange Act.
  (iv)
        The
        description of securities which is contained in the registration statement
        on
        Form 10-SB filed by the Company pursuant to Section 12 of the Exchange Act,
        including any amendment or report filed for the purpose of updating such
        description
  All
        documents subsequently filed by the Company pursuant to Section 13(a), 13(c),
        14
        and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment
        which either indicates that all securities offered have been sold or deregisters
        all securities then remaining unsold, shall be deemed to be incorporated by
        reference in this Registration Statement and to be a part hereof from the date
        of filing such documents. Any statement contained in a document incorporated
        or
        deemed to be incorporated by reference herein shall be deemed to be modified
        or
        superseded for purposes of this prospectus to the extent that a statement
        contained herein or in any other subsequently filed document which also is
        incorporated or deemed to be incorporated by reference herein modifies or
        supersedes such statement. Any such statement so modified or superseded shall
        not be deemed, except as so modified or superseded, to constitute a part of
        this
        prospectus.
  ITEM
        4. DESCRIPTION OF SECURITIES.
  The
        class
        of securities to be offered is registered under Section 12 of the Exchange
        Act.
  ITEM
        5. INTERESTS OF NAMED EXPERTS AND COUNSEL
  The
        validity of the securities being registered will be passed upon by Diane D.
        Dalmy, Esq., General Counsel to the Company, 8965 W. Cornell Place, Lakewood,
        Colorado 80227.
  None
        of
        the experts named in the Registration Statement as having prepared or certified
        a report or counsel for the Company named in the Registration Statement as
        having given an opinion upon the validity of the securities being registered
        or
        upon other legal matters in connection with the registration of offering of
        such
        securities have or will receive in connection with the offering a substantial
        interest, direct or indirect, in the Company or its subsidiary, if any, nor
        was
        connected with the Company or its subsidiary, if any, as a promoter, managing
        underwriter, voting trustee, director, officer or employee.
  2
  ITEM
        6. INDEMNIFICATION OF DIRECTORS AND OFFICERS.
  Section
        78.7502 of the Nevada Revised Statutes contains provisions for indemnification
        of the officers and directors of the Company. Nevada law provides for
        indemnification (which may eliminate any personal liability of a director to
        the
        Company or its shareholders for monetary damages for gross negligence or lack
        of
        care in carrying out the director's fiduciary duties) if a director or officer
        acts in good faith in a manner reasonably believed to be in, or not opposed
        to,
        the best interests of the Company. A director or officer may be indemnified
        as
        to any matter in which he successfully defends himself.
  The
        officers and directors of the Company are accountable to the shareholders of the
        Company as fiduciaries, which means such officers and directors are required
        to
        exercise good faith and integrity in handling the Company's affairs.
  A
        shareholder may be able to institute legal action on behalf of himself and
        all
        other similarly situated shareholders to recover damages where the Company
        has
        failed or refused to observe the law. Shareholders may, subject to applicable
        rules of civil procedure, be able to bring a class action or derivative suit
        to
        enforce their rights, including rights under certain federal and state
        securities laws and regulations. Shareholders who have suffered losses in
        connection with the purchase or sale of their interest in the Company due to
        a
        breach of a fiduciary duty by an officer or director of the Company in
        connection with such sale or purchase including, but not limited to, the
        misapplication by any such officer or director of the proceeds from the sale
        of
        any securities, may be able to recover such losses from the Company.
  Insofar
        as indemnification for liabilities arising under the Securities Act may be
        permitted to directors, officers and controlling persons of the Company pursuant
        to the foregoing provisions, or otherwise, the Company has been advised that
        in
        the opinion of the Commission such indemnification is against public policy
        as
        expressed in the Securities Act and is, therefore, unenforceable. In the event
        that a claim for indemnification against such liabilities (other than the
        payment by the Company of expenses incurred or paid by a director, officer
        or
        controlling person of the Company in the successful defense or any action,
        suit
        or proceeding) is asserted by such director, officer or controlling person
        in
        connection with the securities being registered, the Company will, unless in
        the
        opinion of its counsel the matter has been settled by controlling precedent,
        submit to a court of appropriate jurisdiction the question whether such
        indemnification by it is against public policy as expressed in the Securities
        Act and will be governed by the final adjudication of such issue.
  The
        Company has no agreements with any of its directors or executive officers
        providing for indemnification of any such persons with respect to liability
        arising out of their capacity or status as officers and directors.
  At
        present, there is no pending litigation or proceeding involving a director
        or
        executive officers of the Company as to which indemnification is being sought.
  3
  ITEM
        7. EXEMPTION FROM REGISTRATION CLAIMED.
  In
        the
        event certain Stock Options issued under the Stock Option Plan are not
        registered pursuant to this Registration Statement, the shares of Common Stock
        to be issued pursuant to an exercise of such Stock Option shall be issued in
        reliance upon the exemption from the registration requirements of the Securities
        Act of 1933, as amended, contained in Section 4(2) thereof, covering
        transactions not involving any public offering or not involving any "offer"
        or
        "sale".
  In
        such
        event, each optionee, as a condition of exercise, shall represent, warrant
        and
        agree in a form of written certificate approved by the Company that (i) all
        shares of Common Stock are being acquired solely for his own account and not
        on
        behalf of any other person or entity; (ii) no shares of Common Stock will be
        sold or otherwise distributed in violation of the Securities Act of 1933, as
        amended, or any other applicable federal or state securities laws; (iii) if
        he
        is subject to reporting requirements under Section 16(a) of the Securities
        Exchange Act of 1934, as amended, he will (a) furnish the Company with a copy
        of
        each Form 4 filed by him and (b) timely file all reports required under the
        federal securities laws; and (iv) he will report all sales of shares of Common
        Stock to the Company in writing.
  ITEM
        8. EXHIBITS
  The
        following documents are filed as exhibits to this Registration Statement:
  5.1
        Opinion of Diane D. Dalmy, as counsel to the Company, regarding the legality
        of
        the securities being registered.
  23.1
        Consent of Diane D. Dalmy, as counsel to the Company, included in the Opinion
        as
        exhibit 5.1.
  23.2
        Consent of Dale Matheson Carr-Hilton LaBonte as independent public accountants.
  99.1
        2005
        Stock Option Plan.
  ITEM
        9. UNDERTAKINGS.
  The
        undersigned registrant hereby undertakes to deliver or cause to be delivered
        with the prospectus to each employee to whom the prospectus is sent or given
        a
        copy of the registrant's annual report to stockholders for its last fiscal
        year,
        unless such employee otherwise has received a copy of such report, in which
        case
        the registrant shall state in the prospectus that it will promptly furnish,
        without charge, a copy of such report on written request of the employee.
  The
        undersigned registrant hereby undertakes to transmit or cause to be transmitted
        to all employees participating in the plan who do not otherwise receive such
        material as stockholders of the registrant, at the time and in the manner such
        material is sent to its stockholders, copies of all reports, proxy statements
        and other communications distributed to its stockholders generally.
  The
        undersigned registrant hereby undertakes (i) to file, during any period in
        which
        offers or sales are being made, a post-effective amendment to this Registration
        Statement, if applicable, to include any material information with respect
        to
        the plan of distribution not previously disclosed in the Registration Statement
        or any material change to such information in the Registration Statement; (ii)
        that, for the purpose of determining any liability under the Securities Act
        of
        1933, as amended, each such post-effective amendment shall be deemed to be
        a new
        registration statement relating to the securities offered therein, and the
        offering of such securities at that time shall be deemed to be the initial
        bona
        fide offering thereof; and (iii) to remove from registration by means of a
        post-effective amendment any of the securities being registered which remain
        unsold at the termination of the offering.
  The
        undersigned Registrant hereby undertakes that, for 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 annual report pursuant
        to Section 15(d) of the Exchange Act) 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.
  Insofar
        as indemnification for liabilities arising under the Securities Act 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 Commission such indemnification is against
        public policy as expressed in the Securities 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 or 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 Securities Act and will be governed by the final
        adjudication of such issue.
  4
  SIGNATURES
  Pursuant
        to the requirements of the Securities Act of 1933, as amended, 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 City of Blaine, State of Washington, on April 19, 2006.
  URANIUM
          ENERGY CORP.
  By:
                    /s/ Amir Adnani
  Amir
                    Adnani, President/Chief
  Executive
                    Officer and
  Director
  Pursuant
        to the requirements of the Securities Act of 1933, as amended, this registration
        statement has been signed by the following persons in the capacity and on the
        date indicated.
  Signature
  Title
  Date
  /s/
        Randall Reneau
  Chief
        Exploration
        Officer/Director
  April
        19, 2006
  Randall
        Reneau
  /s/
        Johnathan Lindsay
  Secretary
  April
        19, 2006
  Johnathan
        Lindsay
  /s/
          Harry Anthony
  Director
  April
          19,
          2006
  Harry
          Anthony
  /s/
          D. Bruce Horton
  Chief
          Financial
          Officer/ Director
  April
          19, 2006
  D.
          Bruce Horton
  /s/
          Steve Jewett
  Director
  April
          19,
          2006
  Steve
          Jewett
  /s/
          Alan Lindsay
  Director
  April
          16,
          2006
  Alan
          Lindsay
  5