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<P align="center"><font size=2>As Filed with the Securities and Exchange Commission
on July 8, 2008 </font></P>
<P align="center"><B><FONT size=2 face="serif">UNITED STATES</FONT></B><FONT size=2 face="serif"> </FONT><BR>
  <B><FONT size=2 face="serif">SECURITIES AND EXCHANGE COMMISSION</FONT></B><BR>
  <B><FONT size=2 face="serif">WASHINGTON, D.C. 20549</FONT></B><FONT size=2 face="serif"> </FONT></P>
<P align="center">
<B><U><FONT size=2 face="serif">FORM S-8</FONT></U></B></P>
<P align="center">
<B><FONT size=2 face="serif">REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</FONT></B></P>
<P align="center">
<B><FONT size=2 face="serif">CONOLOG CORPORATION</FONT></B><FONT size=2 face="serif"> </FONT><BR>
<FONT size=2 face="serif">(Exact name of issuer as specified in its charter)</FONT></P>
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<B><U><FONT size=2 face="serif">Delaware</FONT></U></B>&nbsp;	</TD>
	<TD align=center nowrap>
<B><U><FONT size=2 face="serif">22-1847286</FONT></U></B>&nbsp;	</TD>
</TR>
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	<TD align=center nowrap>
<FONT size=2 face="serif">(State or other jurisdiction of incorporation or</FONT>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=2 face="serif">(I.R.S. Employer</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=center nowrap>
<FONT size=2 face="serif">organization)</FONT>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=2 face="serif">Identification No.)</FONT>&nbsp;	</TD>
</TR>
</TABLE>
<BR>
<P align="center">
<B><FONT size=2 face="serif">5 Columbia Road</FONT></B><FONT size=2 face="serif"> </FONT><BR>
<B><FONT size=2 face="serif">Somerville, New Jersey 08876</FONT></B><FONT size=2 face="serif"> </FONT><BR>
<B><FONT size=2 face="serif">TELEPHONE: (908) 722-8081</FONT></B><FONT size=2 face="serif"> </FONT><BR>
<FONT size=2 face="serif">(Address of Principal Executive Offices and Zip Code)</FONT></P>
<P align="center">
<B><FONT size=2 face="serif">2008 Stock Incentive Plan</FONT></B><FONT size=2 face="serif"> </FONT><BR>
<FONT size=2 face="serif">(Full title of the plan) </FONT><BR>
<BR>
<FONT size=2 face="serif">Robert Benou </FONT><BR>
<FONT size=2 face="serif">Chief Executive Officer </FONT><BR>
<B><FONT size=2 face="serif">5 Columbia Road</FONT></B><FONT size=2 face="serif"> </FONT><BR>
<B><FONT size=2 face="serif">Somerville, New Jersey 08876</FONT></B><FONT size=2 face="serif"> </FONT><BR>
<FONT size=2 face="serif">(Name and address of agent for service)</FONT></P>
<P align="center">
<FONT size=2 face="serif">Copies of all communications, including all communications sent to agent for service to:</FONT></P>
<P align="center">
<B><FONT size=2 face="serif">David Manno, Esq.<br>
Jeff Cahlon, Esq.<br>
Sichenzia Ross Friedman Ference LLP<br>
61 Broadway<br>
New York, NY 10006<br>
(212) 930-9700<br>
(212) 930-9725 (fax)</FONT></B></P>
<P align="center">
<B><FONT size=2 face="serif">CALCULATION OF REGISTRATION FEE</FONT></B><FONT size=2 face="serif"> </FONT></P>
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	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<B><FONT size=2 face="serif">Proposed Maximum</FONT></B>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
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	<TD align=center nowrap>
<B><FONT size=2 face="serif">Title Of Securities</FONT></B>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<B><FONT size=2 face="serif">Amount to be</FONT></B>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<B><FONT size=2 face="serif">Offering Price Per</FONT></B>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<B><FONT size=2 face="serif">Aggregate Offering</FONT></B>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<B><FONT size=2 face="serif">Amount of</FONT></B>&nbsp;	</TD>
</TR>
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	<TD align=center nowrap>
<B><FONT size=2 face="serif">to be Registered</FONT></B>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<B><FONT size=2 face="serif">Registered(1)</FONT></B>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap><B><FONT size=2 face="serif">Share(2)</FONT></B>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<B><FONT size=2 face="serif">Price</FONT></B>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<B><FONT size=2 face="serif">Registration Fee</FONT></B>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=center nowrap>
<FONT size=2 face="serif">Common Stock</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
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	<TD align=center nowrap>
<FONT size=2 face="serif">&#36;.01 par value&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap><FONT size=2 face="serif">800,000</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap><FONT size=2 face="serif">&#36;1.11</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=2 face="serif">&#36;888,000</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap><FONT size=2 face="serif">&#36;</FONT><FONT size=2 face="serif">34.90</FONT>&nbsp;	</TD>
</TR>
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  <TD align=center nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap><div style="border-bottom:1px solid #000000; width:100px">&nbsp;</div>    </TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD colspan="9" align=left nowrap><FONT size=2 face="serif">(1) Represents the shares of
      common stock issued under Conolog Corporation&#146;s 2008 Stock Incentive
    Plan.</FONT></TD>
  </TR>
<TR valign="bottom">
  <TD colspan="9" align=left><FONT size=2 face="serif">(2) Computed pursuant
      to Rule 457(c) and (h) on the basis of the average of the high and low
      prices of the common stock as reported on July 3, 2008 on the NASDAQ Capital
    Market.</FONT></TD>
  </TR>
</TABLE>

<P align="justify">&nbsp;</P>
<P align="justify">
<FONT size=2 face="serif"></FONT></P>

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<P align="left" style="page-break-before:always"></P><PAGE>


<P align="CENTER">
<FONT size=2 face="serif">PART 1</FONT></P>
<P align="center">
<FONT size=2 face="serif">Information Required in this Section 10(a) Prospectus</FONT></P>
<P align="justify">
<FONT size=2 face="serif">This Registration Statement relates to two separate prospectuses.</FONT></P>
<P align="justify">
<U><FONT size=2 face="serif">Section 10(a) Prospectus</FONT></U><FONT size=2 face="serif">: Items 1 and 2, from this page, and the documents incorporated by reference pursuant to Part II, Item 3 of this prospectus, constitute a prospectus that meets
the requirements of Section 10(a) of the Securities Act of 1933, as amended (the &#147;Securities Act").</FONT></P>
<P align="justify">
<U><FONT size=2 face="serif">Reoffer Prospectus</FONT></U><FONT size=2 face="serif">: The material that follows Item 2, up to but not including Part II of this Registration Statement, of which the reoffer prospectus is a part, constitutes a &#147;reoffer
prospectus,&#148; prepared in accordance with the requirements of Part I of Form S-3 under the Securities Act. Pursuant to Instruction C of Form S-8, the reoffer prospectus may be used for reoffers or resales of common shares which are deemed to be
"control securities&#148; or &#147;restricted securities&#148; under the Securities Act that have been acquired by the Selling Stockholders named in the reoffer prospectus.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">Item 1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Plan Information. </FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">Conolog Corporation ("We", &#147;us", the &#147;Company&#148; or &#147;Conolog") will provide each participant (the &#147;Recipient") with documents that contain information related to our 2008 Stock Incentive 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 &#147;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.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">Item 2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Registrant Information and Employee Plan Annual Information. </FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">We will provide to each Recipient a written statement advising it 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 align="center">
<FONT size=2 face="serif">Robert Benou<br>
Chief Executive Officer<br>
5 Columbia Road<br>
Somerville, New Jersey 08876<br>
(908) 722-8081</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">Information required by Part I to be contained in section 10(a) prospectus is omitted from the registration statement in accordance with Rule 428 under the securities Act of 1933, and Note to Part I of Form
S-8.</FONT></B></P>
<P align="center">
<FONT size=2 face="serif">--3--</FONT></P>

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<P align="center">
<B><FONT size=2 face="serif">REOFFER PROSPECTUS</FONT></B><FONT size=2 face="serif"> </FONT><BR>
<BR>
<B><FONT face="serif">Conolog Corporation</FONT></B><FONT face="serif"> </FONT><BR>
<BR>
<B><FONT size=2 face="serif">800,000 Shares of Common Stock</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">This reoffer prospectus relates to 800,000 shares of our common stock, par value &#36;0.01 per share, that may be offered and resold from time to time by existing selling stockholders identified in this prospectus (the
&#147;Selling Stockholders&#148;) for their own account. The Selling Stockholders were issued these shares pursuant to our 2008 Stock Incentive Plan. It is anticipated that the Selling Stockholders will offer common shares for sale at prevailing
prices on the NASDAQ Capital Market on the date of sale. We will receive no part of the proceeds from sales made under this reoffer prospectus. The Selling Stockholders 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 Stockholders will be borne by us.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">The shares of common stock have been issued pursuant to our 2008 Stock Incentive Plan, which authorized the issuance of up to 800,000 shares of our common stock to officers, directors, employees and consultants of the
Company. This reoffer prospectus has been prepared for the purposes of registering the common shares under the Securities Act to allow for future sales by the Selling Stockholders on a continuous or delayed basis to the public without
restriction.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">The Selling Stockholders and any brokers executing selling orders on their behalf may be deemed to be &#147;underwriters&#148; within the meaning of the Securities Act, in which event commissions received by such brokers may be
deemed to be underwriting commissions under the Securities Act.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">Our common stock is traded on the NASDAQ Capital Market under the symbol &#147;CNLGD". On July 3, 2008 the closing price of our common stock on such market was &#36;1.05 per share. Due to a four-for-one reverse stock split
effected on June 11, 2008, the symbol for our common stock changed from &#147;CNLG&#148; to &#147;CNLGD.&#148; On July 10, 2008, the symbol for our common stock will revert back to &#147;CNLG.&#148; </FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">Investing in our common stock involves risks. See &#147;Risk
Factors&#148; on
page 12 of this reoffer prospectus. These are speculative securities. </FONT></B> </P>
<P align="justify">
<B><FONT size=2 face="serif">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 align="justify">
<B><FONT size=2 face="serif">NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE
CONTRARY IS A CRIMINAL OFFENCE.</FONT></B></P>
<P align="center">
<FONT size=2 face="serif">The date of this prospectus is July 8, 2008.</FONT><BR>
<FONT size=2 face="serif">________________ </FONT></P>
<P align="center">
<FONT size=2 face="serif">--4--</FONT></P>

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<P align="left" style="page-break-before:always"></P><PAGE>


<TABLE align="center" border=0 width=80% cellspacing=0 cellpadding=0>
<TR>
     <TD width=92%></TD>
     <TD width=8%></TD></TR>
<TR valign="bottom">
	<TD colspan="2" align=center nowrap><B><FONT size=2 face="serif">TABLE OF
CONTENTS</FONT></B>		</TD>
  </TR>
<TR>
	<TD colspan=2>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=2 face="serif">Page</FONT>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=2>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Prospectus Summary</FONT>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=2 face="serif">6</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Risk Factors</FONT>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=2 face="serif">12</FONT>&nbsp;	</TD>
</TR>

<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Cautionary Note Regarding Forward-Looking Statements</FONT>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=2 face="serif">14</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Determination Of Offering Price</FONT>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=2 face="serif">14</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Use of Proceeds</FONT>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=2 face="serif">15</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Selling Stockholders</FONT>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=2 face="serif">15</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Plan of Distribution</FONT>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=2 face="serif">18</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Legal Matters</FONT>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=2 face="serif">20</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Experts</FONT>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=2 face="serif">20</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Interest of Named Experts and Counsel</FONT>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=2 face="serif">20</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Information Incorporated by Reference</FONT>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=2 face="serif">20</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Disclosure of Commission Position on Indemnification</FONT>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">for Securities Act Liabilities</FONT>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=2 face="serif">21</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Additional Information Available to You</FONT>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=2 face="serif">21</FONT>&nbsp;	</TD>
</TR>
</TABLE>
<BR>
<P align="justify">
<FONT size=2 face="serif">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 align="center">
<FONT size=2 face="serif">--5--</FONT></P>

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<P align="left" style="page-break-before:always"></P><PAGE>


<P align="justify">
<FONT size=2 face="serif">The following summary highlights selected information contained in this prospectus. This summary does not contain all the information you should consider before investing in the securities. Before making an investment
decision, you should read the entire prospectus carefully.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">PROSPECTUS SUMMARY</FONT></B><BR>
<BR>
<B><FONT size=2 face="serif">OUR COMPANY </FONT></B><FONT size=2 face="serif"> </FONT></P>
<P align="justify">
<FONT size=2 face="serif">We provide digital signal processing and digital security solutions to electric utilities. We sell electromagnetic products to the military and provide engineering and design services to a variety of industries, government
organizations and public utilities nationwide. Our INIVEN division sells a line of digital signal processing systems, including transmitters, receivers and multiplexers. Our headquarters are located at 5 Columbia Road, Somerville, New Jersey 08876.
Our telephone number is (800) 526-3984 or (908) 722-8081.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">We were organized in 1968 and were engaged primarily in the design and manufacture of electronic components and systems for military applications.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">In July 1971, we merged with DSI Systems, Inc., then engaged in the development and manufacture of terminal viewers for digital retrieval of microfilm. Later that year, we changed our name to Conolog Corporation.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">In 1981 we acquired one of our customers, INIVEN Corporation (&#147;INIVEN&#148;). At that time, we were manufacturing, on behalf of INIVEN, a line of transmitters and receivers used for controlling and transceiving the measurement
of the flow of gases and liquids, by gas and water utilities for controlling the flow of waste water and sewage and measuring and controlling traffic.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">During 1987, we made a strategic decision to redirect our focus from military to commercial markets. Since that time, we have refocused on manufacturing and marketing our products for the commercial marketplace rather than
depend on the military and defense-related markets. Our primary emphasis was on products for electric utilities, co-generation of power, gas and water companies, traffic control for departments of transport (DOT) and airports utilizing DSP (Digital
Signal Processing) technology.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">In September 1998, we acquired the assets of Atlas Design, Inc., a human resource outsourcing company, to further our strategy of mergers and acquisitions, and to assist in providing qualified engineering and technical
staff in support of our longer term contracts.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">In January 2001, we acquired substantially all of the assets of Prime Time Staffing Inc. and Professional Temp Solutions, Inc. These companies provided permanent and temporary employees for the graphics design firms, book
publishing companies and engineering businesses.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">During the year ended July 31, 2001, we formed a wholly owned subsidiary, Lonogoc Corporation. In August, 2000, Lonogoc Corporation purchased the assets of Independent Computer Maintenance Corporation, which provided
installation, maintenance, and troubleshooting of computer systems and networks. On October 22, 2002, we entered into an agreement to rescind the Asset Purchase Agreement between us and Independent Computer Maintenance Corporation. Under the
rescission agreement, Conolog and its subsidiary agreed to transfer all assets previously purchased pursuant to the Asset Purchase Agreement, to the extent they still exist, to the former seller. The return of the purchase price paid for the assets
was &#36;600,000, &#36;300,000 in cash at closing, a note, which is secured by a first mortgage on a condominium, for &#36;150,000 bearing an interest rate of 7.5% of which will be paid over 24 months in equal monthly installments of &#36;6,750 per
month beginning December 2002, and an unsecured note receivable for &#36;137,350 payable over 10 years beginning December 2004 bearing an interest rate of 5%.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">In March 2004, we ceased operating our staffing business. The assets of our wholly-owned subsidiary, Nologoc, Inc. trading as Atlas Design, were sold to the subsidiary's Vice President. In consideration of the sale, we
received &#36;34,000 in cash.</FONT></P>
<P align="center">
<FONT size=2 face="serif">--6--</FONT></P>

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<P align="justify">
<B><FONT size=2 face="serif">PRODUCTS</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">We are engaged in the design and manufacture of (i) transducers, which are electro-magnetic devices which convert electrical energy into mechanical and other forms of physical energy, or conversely convert mechanical and
other forms of physical energy into electrical energy; (ii) digital signal processing (DSP) systems and electromagnetic wave filters for differentiation among discreet audio and radio frequencies; (iii) audio transmitters and modulators, for the
transmission over telephone lines, microwave circuits, or satellite, of electrical signals obtained from transducers, data generated in electronic code form or by computers or other similar equipment (not manufactured by us); (iv) audio receivers
and demodulators which are small systems which receive and decode the signals from the audio transmitters and convert them into digital codes for input into computers, teletypes or other similar equipment (not manufactured by us) or convert such
signals into mechanical or other form of energy, such as opening or closing valves, or starting or stopping a motor; (v) magnetic &#147;networks&#148; which are devices that permit the matching or coupling of different types of communication equipment
together or many identical or similar equipment together or onto telephone or other transmission lines so as not to cause interference; and (vi) analog transmitters and receivers, which permit the coding/transmission and receiving/decoding of a
constantly variable data, such as the water level in a tank, pressure in a pipe or temperature, by actually displaying the exact information at the receiving end in digital form for storing in a computer or other devices, or by physically displaying
the information in a visual fashion such as a numerical readout or meter, and (vii) multiplexer supervisory controls, which enable callers with high volumes of supervisory data to transmit on fewer phone lines.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">Such products are used in radio and other transmissions, telephones and telephone exchanges, air and traffic control, automatic transmission of data for utilities, tele-printing of transmitted data such as news and stock
market information and for use by electric utilities in monitoring power transmission lines for faults and/or failures. Our products may be used independently or in combination with other products to form a system type configuration, whereby our
equipment is pre-assembled in a large cabinet with other equipment in a configuration that would provide the end user with protection as well as operational status displays.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">PRESENT STATUS/BUSINESS PRODUCT DESCRIPTION</FONT></B><BR>
<BR>
<FONT size=2 face="serif">We are engaged in three basic market segments:</FONT></P>
<P align="justify">
<FONT size=2 face="serif">(A) Commercial Sales (Under the trade name &#147;INIVEN&#148; (a Division of Conolog))</FONT></P>
<P align="justify">
<FONT size=2 face="serif">o Direct sales to end-users</FONT><BR>
<BR>
<FONT size=2 face="serif">o Sales to system assemblers</FONT><BR>
<BR>
<FONT size=2 face="serif">o Sales to contractors/installers</FONT><BR>
<BR>
<FONT size=2 face="serif">(B) Military Sales</FONT><BR>
<BR>
<FONT size=2 face="serif">o Direct contract sales to the military</FONT><BR>
<BR>
<FONT size=2 face="serif">o As subcontractor to systems producers</FONT><BR>
<BR>
<FONT size=2 face="serif">o Foreign governments</FONT></P>
<P align="justify">
<FONT size=2 face="serif">(C) Commercial Sales - As Manufacturing Subcontractor to Systems Producers.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">MILITARY SALES</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">Military sales are primarily for our electromagnetic wave filters used in military radios, vehicles (cars, trucks or tanks), portable (backpack), special signaling equipment and exchanges (as in field command posts), ship
to ship teletype signaling filters used in deployment of ships (UCC-1 and UCC-4 systems) as well as many other signaling applications where</FONT></P>
<P align="center">
<FONT size=2 face="serif">--7--</FONT></P>

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<P align="justify">
<FONT size=2 face="serif">accurate electromagnetic frequency control is required.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">Our military sales are received through independent sales representatives who are paid a commission</FONT></P>
<P align="justify">
<FONT size=2 face="serif">Commercial &#147;INIVEN&#148; Sales and Products</FONT></P>
<P align="justify">
<FONT size=2 face="serif">&#147;INIVEN&#148; equipment is designed around four (4) core product groups:</FONT></P>
<P align="justify">
<FONT size=2 face="serif">(1) PTR and PDR Teleprotection Series (Protective Tone Relaying Communications Terminal), which includes the PTR-1000, PTR-1500 and PDR-2000.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">(2) Audio Tone &amp; Telemetry Equipment (Audio Tone Control, Telemetering and Data Transmission Systems), which includes Series &#147;98,&#148; &#147;68,&#148; &#147;40&#148; and &#147;GEN-1.&#148;</FONT></P>
<P align="justify">
<FONT size=2 face="serif">(3) Multiplex Supervisory Control System</FONT></P>
<P align="justify">
<FONT size=2 face="serif">(4) Communication Link Multihead Fiber Optic Couplers and Industrial Grade 1200 Baud Modems.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">PTR TELEPROTECTION SERIES</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">This product is designed for use exclusively by electric power generators (electric utilities and co-generators) in order to protect their transmission and distribution lines. The PTR-1000, by monitoring the output signal
of the transmission equipment in less than one hundredth of a second protects the transmission and distribution lines.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">The PTR-1000 are installed in pairs, one unit at each end of the line. Each unit is connected and in constant communication with the other, as they continuously monitor the line for faults. In the event of a fault occurring
(such as a downed line or a short circuit) at either end and when confirmed by the receiving PTR-1000 unit, the line is immediately isolated for shut down, averting costly damage and downtime.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">The PTR-1000 system is composed of a transmitter, dual receivers, a logic card (brain center and controller of the system), relay module, line interface module and power supply module. The transmitters at each end are
independent and transmit (continuously) the status (information being monitored) at their end of the line.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">The PTR-1500, is a quad system and performs as 2 duals or 4 singles with many unique features such as multiple line operation, event recording with date stamp with optional analog or digital transmission modes including
optic fiber interface.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">The PDR 2000 is an 8 channel high speed communication system for use in electric power transmission protection schemes. Unique features include event recording, on-board and remote programming, and ID (unit to unit
identification on all communications), Packet Forwarding (ability to forward information such as trips and all events through indirect communication paths), password protection and multiple communication ports.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">The PTR/PDR Teleprotection Series are designed for global use by electric utilities and any entity generating power for its own consumption with resale of surplus power to an electric utility, such as cities,
municipalities, cooperatives and large corporations that find it more economical to generate their own electricity.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">The PTR/PDR market is:</FONT></P>
<P align="justify">
<FONT size=2 face="serif">New installations; i.e., new transmission lines, new distribution segments, for utilities and cogenerators.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">Existing installations not properly protected, improving efficiency and reducing down time.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">Existing installations for upgrading to PTR/PDR technology, again improving efficiency and down time.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">Sales efforts for the PTR/PDR are presently being conducted by the Company's marketing executives, through independent manufacturers' representatives and through distributors. Sales are targeted primarily to the
largest</FONT></P>
<P align="center">
<FONT size=2 face="serif">--8--</FONT></P>

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<P align="justify">
<FONT size=2 face="serif">utilities and co-generators.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">In the United States alone, there are over 500 large entities generating electricity. They are:</FONT></P>
<P align="justify">
<FONT size=2 face="serif">o Municipal Systems</FONT><BR>
<BR>
<FONT size=2 face="serif">o Cooperative Systems</FONT><BR>
<BR>
<FONT size=2 face="serif">o Federal, State and District Systems</FONT><BR>
<BR>
<FONT size=2 face="serif">o Audio Tone and Telemetry Equipment</FONT></P>
<P align="justify">
<FONT size=2 face="serif">For many years there has been a need for a modularly independent system that would permit a user, from a distance, to control functions such as opening a valve, starting a motor, shutting down a compressor, changing a
traffic signal, control landing lights at an airport, activate a hazard warning on a highway, and in return allow the user to receive information, such as the liquid level in a tank, the pressure in a pipe, the rate of flow out of a compressor, the
flow of traffic, the status of a traffic light, airport lights, or confirmation that a command was performed. Such information is transmitted and received and the control functions are performed from a distance utilizing telephone lines, microwave
link or direct wire.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">These applications, by their nature, can be accomplished with slow speed signaling systems composed of a transmitter on one end and a receiver on the other to carry out the necessary instructions provided by the
transmitter. Each set (transmitter/receiver combination) is called a channel. Because of the slow speed, up to 30 channels could be made to transmit and receive signals, in either direction on a single telephone line, microwave link or direct-wired
line at the same time. This parallel transmission permits each transmitter/receiver pair to be independent of all the others.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">This product segment includes the first generation equipment, known as GEN-1, followed by later generations which include technological improvements and programmable capabilities to include:</FONT></P>
<P align="justify">
<FONT size=2 face="serif">GEN-1 Series - First generation with electromagnetic modules and first generation programmable modules without electro-magnetic modules.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">&#147;98&#148; and &#147;68&#148; Series - The latest generation applies DSP and microprocessor technology with full programmability, in the field or at the factory.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">&#147;40&#148; Series - Designed to function with the &#147;98&#148; or &#147;68&#148; series; transmits and receives variable analog data.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">GEN-1 AND GEN-1 PROGRAMMABLE SERIES</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">The diversity of applications for this equipment makes it available for a wide range of users who are not restricted to a single industry. Typical industrial uses include: the measurement of water and gas, waste water,
gasoline, oil, traffic, and electricity. Typical users include: utilities, co-generators, airports, navy yards, telephone companies, paper and pulp processors and wherever remote control and data acquisition is required.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">Since our line has a distinct mechanical configuration, we designed our GEN-1 Programmable units and other improvements as replacements for existing units.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">Our line of GEN-1 equipment is extensive and provides the user with the ability to perform multiple control functions, status monitoring as well as continuous variable data monitoring, such as a level in a tank or pressure
gauge.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">Sales for this line are primarily for the replacement of existing installations and for expansion of these installations where it would not be economical to install the latest technology, which would not be mechanically
compatible.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">Sales to this market are made in the same manner as the PTR/PDR market except that manufacturers' representatives</FONT></P>
<P align="center">
<FONT size=2 face="serif">--9--</FONT></P>

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<P align="justify">
<FONT size=2 face="serif">specialize in selling to this diverse market.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">&#147;98,&#148; &#147;68&#148; and &#147;40&#148; Series represent our latest designs in the audio tone equipment utilizing the more advanced DSP technology, which provides high accuracy and long-term stability. These features have allowed us to greatly
improve the scope, density and number of functions that can be performed on a single phone line, microwave link or direct line.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">Sales of these products are made by the same agents who sell our GEN-1 products, but are also directed to encompass more sophisticated users with larger amounts of data and control points. The mechanical configuration of
the &#147;98&#148; series is more compact, permitting more equipment in a given space, while performing many more functions when it is connected to the &#147;40&#148; Series. The &#147;68&#148; Series is the &#147;98&#148; Series repackaged mechanically specifically for customers with
older systems permitting them to upgrade their systems to DSP technology. The &#147;40&#148; Series, when connected to the &#147;98&#148; or &#147;68&#148; in the same chassis, permits the continuous monitoring of variable data.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">Typical applications for these products include transmission of the variable data (such as volume, temperature, pressure and moisture) for water, gas, industrial gases, oil, gasoline, transportation equipment and telephone
exchanges, and for use at airports, tunnels and bridges and for security and electricity systems.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">MULTIPLEX SUPERVISORY (IM) CONTROL SYSTEM</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">This product is a response to the cost and scarcity of dedicated phone lines (connections whereby the phone link is dedicated to one subscriber), and enables customers with high volumes of supervisory data (where many
functions are monitored from a single site) to transmit data on fewer phone lines (i.e., with more data per channel, up to a maximum of 30 channels per line).</FONT></P>
<P align="justify">
<FONT size=2 face="serif">Using the &#147;98&#148; DSP Series as its communications link, we designed the Multiplexer Supervisory Control System to handle 8 times the normal capacity per channel. The microprocessor-based system allows a single telephone line
to handle up to 900 data inputs. This product line because of its data density capability, may be utilized for a very broad range of applications. This product has only recently been introduced and our sales efforts for it are being conducted
through our existing independent manufacturers sales representatives.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">FIBER OPTIC LINK AND DATA MODEM</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">The expansion of fiber lines by our customers and their need to switch equipment from phone lines to fiber prompted us to design and introduce a fiber-optic-coupler line to interface with the many different fiber heads. In
addition to complete data interface couplers we launched a series of 1200 Baud Modems (Industrial Grade) for operation under the same environmental specifications in line with our products.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">OUR STRATEGY</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">Our strategy is to develop new commercial markets by continuing to develop new products and enhance existing products to improve both our market share and competitive position. Growth in commercial sales is expected to come
through internal growth of existing products, new product introductions and the expansion of regional markets to meet the growing needs of our customers for more sophisticated and comprehensive products and services.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">MARKETING AND SALES</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">In general, our products are marketed through telemarketing and customer contacts by our President and through independent manufacturing sales representatives and distributors.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">COMPETITION</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">The market for our products and staffing services is very competitive. There are several companies engaged in providing the services and in the manufacturing the products of the type produced by us, most of which are
substantially larger and have substantially greater name recognition or greater financial resources and personnel. The major competitive factors include availability of personnel, product quality, reliability, price, service and delivery.</FONT></P>
<P align="center">
<FONT size=2 face="serif">--10--</FONT></P>

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<P align="justify">
<FONT size=2 face="serif">Competition is expected to continue and intensify. The market is also characterized by rapid technological changes and advances. We would be adversely affected if our competitors introduced technology superior products or
offered these products and services at significantly lower prices than our products.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">LARGEST CUSTOMERS</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">Our major customers during fiscal 2007 were Bonneville Power Authority and NSTAR. Sales to these customers totaled &#36;229,512. None of these customers has or had any material relationship other than business with the
Company.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">INVENTORY </FONT></B><FONT size=2 face="serif"> </FONT><BR>
<BR>
<B><FONT size=2 face="serif">RAW MATERIALS</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">We believe that we have adequate sources of raw materials available for use in our business. Our products are assembled from a variety of standard electronic components, such as integrated circuits, transformers,
transistors, passive components (i.e., resistors, capacitors and inductors), diodes and assorted hardware, such as, printed circuit boards, connectors and faceplates. We are not dependent upon any single supplier. We also purchase a number of other
electronic components and sub-assemblies from various suppliers.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">In the past, we manufactured and held in our inventory finished products pursuant to the military specifications and based upon the military forecast for future quantities and delivery schedules. Widespread military
procurements were discontinued as a result of the end of the cold war and the downsizing of the military establishment. Consequently, management made a decision to write off a substantial amount of the military inventory in 2001 and 2002. As a
result, we no longer manufacture military products in advance. Rather, we only schedule production as purchase orders are received.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">MANUFACTURING</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">The Company currently rents approximately 7,000 square feet of the facility located at 5 Columbia Road, for a combination of manufacturing and office space. The Company assembles, under normal workload conditions, the
product it sells; however, to accommodate the peak demands that occur from time to time, we can engage a number of subcontractors to assemble boards to our specifications. All assemblies, however, are inspected and fully tested by our quality,
engineering and testing departments. We maintain test equipment and every product is burned-in (i.e., each product is run at full power for 48 hours) and tested prior to shipment.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">WARRANTY AND SERVICE</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">We provide a twelve-year warranty on our products, which covers parts and labor. The Company, at its option, repairs or replaces products that are found defective during the warranty period providing proper preventive
maintenance procedures have been followed by customers. Repairs that are necessitated by misuse of such products are not covered by our warranty.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">In cases of defective products, the customer typically returns them to our facility in Somerville, New Jersey. Our service personnel then replace or repair the defective items and ship them back to the customer. Generally
all servicing is completed at our plant and customers are charged a fee for those service items that are not covered by the warranty. We do not offer our customers any formal written service contracts.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">RESEARCH AND DEVELOPMENT </FONT></B><FONT size=2 face="serif"> </FONT><BR>
<BR>
<B><FONT size=2 face="serif">NEW PRODUCTS - CM-100 PLATFORM</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">In February 2007, we formally introduced the CM-100, which we believe is the first of its kind, direct substation hardened communication consolidator that fills the existing gap in substation communications. The hardwired
CM-100 will allow our existing products, including the PDR-100, to operate seamlessly over fiber optics together with existing substation equipment.</FONT></P>
<P align="center">
<FONT size=2 face="serif">--11--</FONT></P>

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<P align="justify">
<B><FONT size=2 face="serif">THIS OFFERING</FONT></B></P>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR>
     <TD width=48%></TD>
     <TD width=2%></TD>
     <TD width=25%></TD>
     <TD width=2%></TD>
     <TD></TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Shares of common stock outstanding prior to this offering</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="25%" align=right nowrap>
<FONT size=2 face="serif">2,787,469</FONT>	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">(1)</FONT>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Shares being offered by the selling stockholders</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="25%" align=right nowrap>
<FONT size=2 face="serif">800,000</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Shares of common stock to be outstanding after the offering</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="25%" align=right nowrap>
<FONT size=2 face="serif">2,787,469</FONT>	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">(1)</FONT>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Use of proceeds</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="25%" align=left nowrap>
<FONT size=2 face="serif">We will not receive any proceeds from</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="25%" align=left nowrap>
<FONT size=2 face="serif">the sale of the shares of common stock</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="25%" align=left nowrap>
<FONT size=2 face="serif">offered in this prospectus.</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
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	<TD align=left nowrap>
<FONT size=2 face="serif">Risk Factors</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="25%" align=left nowrap>
<FONT size=2 face="serif">The purchase of our common stock</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="25%" align=left nowrap>
<FONT size=2 face="serif">involves a high degree of risk. You</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="25%" align=left nowrap>
<FONT size=2 face="serif">should carefully review and consider</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="25%" align=left nowrap>
<FONT size=2 face="serif">"Risk Factors&#148; beginning on page __.</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
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	<TD align=left nowrap>
<FONT size=2 face="serif">NASDAQ Board Stock Exchange Symbol</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="25%" align=left nowrap>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CNLGD(2)</FONT>	</TD>
	<TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
</TABLE>
<BR>
<P align="justify">
<FONT size=2 face="serif">(1) As of July 2, 2008.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">(2) Due to a four-for-one reverse stock split effected June 11, 2008, the Company&#146;s stock symbol changed
from &#147;CNLG&#148; to &#147;CNLGD.&#148; The Company&#146;s stock symbol will revert back to &#147;CNLG&#148; on July 10, 2008.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">RISK FACTORS</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">An investment in our common stock involves a very significant risk. You should carefully consider the following risks and uncertainties in addition to other information in this prospectus in evaluating our company and its
business before purchasing shares of our company's common stock. Our business, operating results and financial condition could be seriously harmed due to any of the following risks. You could lose all or part of your investment due to any of these
risks.</FONT></P>
<P align="justify">
<I><FONT size=2 face="serif">Sales of a substantial number of shares of our common stock in the public market could cause a reduction in the market price of our common stock.</FONT></I></P>
<P align="justify">
<FONT size=2 face="serif">Any significant downward pressure on the price of our common stock as our shareholders sell shares of our common stock could encourage short sales. Any such short sales could place further downward pressure on the price of
our common stock.</FONT></P>
<P align="justify">
<I><FONT size=2 face="serif">We have a history of operating losses and thus we may not be profitable in the future.</FONT></I></P>
<P align="justify">
<FONT size=2 face="serif">Our continued existence is dependent upon us successfully expanding our business and attaining profitable operations. We have historically had net losses from operations and there can be no assurance that we will be
profitable in the future. If we are not profitable and cannot attain sufficient capital to fund our operations we may have to cease our operations.</FONT></P>
<P align="justify">
<I><FONT size=2 face="serif">We have many competitors and we may not be able to compete effectively against them.</FONT></I></P>
<P align="justify">
<FONT size=2 face="serif">The market for our manufactured products is very competitive. There are several companies that manufacture products similar to the products we sell. Most of these companies are substantially larger than us and have
substantially greater name recognition, financial resources and personnel than we do.</FONT></P>
<P align="justify">
<I><FONT size=2 face="serif">Our success depends on keeping up with technological changes.</FONT></I></P>
<P align="justify">
<FONT size=2 face="serif">The market for our manufactured products is characterized by rapid technological changes and advances. Our failure to continue to introduce new products in a timely or cost effective manner or our failure to continue to
improve our existing products in a timely or cost effective manner would materially adversely affect our operating results, and as a result, we may not be able to compete effectively against them.</FONT></P>
<P align="justify">
<I><FONT size=2 face="serif">We are dependent on a few large customers.</FONT></I></P>
<P align="center">
<FONT size=2 face="serif">--12--</FONT></P>

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<P align="left" style="page-break-before:always"></P><PAGE>


<P align="justify">
<FONT size=2 face="serif">Our dependence on major customers including Bonneville Power Authority and NSTAR, which accounted for an aggregate &#36;229,512 of our sales during the fiscal year ended July 31, 2007, subjects us to significant financial
risks in the operation of our business if a major customer were to terminate or materially reduce, for any reason, its business relationship with us.</FONT></P>
<P align="justify">
<I><FONT size=2 face="serif">We may not be able to attract the qualified personnel we need to succeed.</FONT></I></P>
<P align="justify">
<FONT size=2 face="serif">Because of the technical nature of our business, we are dependent upon our ability to attract and retain technologically qualified personnel. Competition for individuals with proven professional or technical skills is
intense, and the demand for these individuals is expected to remain very strong for the foreseeable future. Larger companies may be able to pay substantially higher salaries than we are able to pay. Therefore, we may not be successful, especially
during increased economic activity, in attracting qualified personnel.</FONT></P>
<P align="justify">
<I><FONT size=2 face="serif">Our minimal staff may have difficulty managing our operations.</FONT></I></P>
<P align="justify">
<FONT size=2 face="serif">We only employ about 15 people on a full time basis. Approximately 8 of our full time employees are involved in production. Our success is dependent upon the services of our current management, particularly Robert S. Benou,
our Chairman, Chief Executive Officer and Chief Financial Officer and Marc Benou our President, Chief Operating Officer and Secretary. Messrs. Robert Benou and Marc Benou are currently serving under employment contracts that renew on a year-to-year
basis unless terminated by either party thereto upon at least 90 days notice prior to the expiration of the then current term of such agreement. If the employment of Messrs. Robert Benou or Marc Benou terminates, or if either is unable to perform
his duties, we may be materially and adversely affected.</FONT></P>
<P align="justify">
<I><FONT size=2 face="serif">We are dependent on component manufacturers to provide us with the parts we need.</FONT></I></P>
<P align="justify">
<FONT size=2 face="serif">We are dependent on outside suppliers for all of the subcomponent parts and raw materials we need to assemble our products. A shortage, delay in delivery, or lack of availability of a part could lead to assembling delays,
which could reduce sales. We also purchase some custom parts, primarily printed circuit boards. The failure of a supplier of one of these customized components could cause a lengthy delay in production, resulting in a loss of revenues.</FONT></P>
<P align="justify">
<I><FONT size=2 face="serif">We have limited cash and may not be able to receive additional financing.</FONT></I></P>
<P align="justify">
<FONT size=2 face="serif">As of April 30, 2008, we had &#36;2,109,455 in cash (including &#36;1,821,052 in a certificate of deposit). We believe that this, together with anticipated cash flows from operations will be sufficient to satisfy our
working capital requirements for the foreseeable future. However, we may need to seek additional financing sooner than we anticipate as a result of factors including but not limited to the following:</FONT></P>
<P align="justify">
<FONT size=2 face="serif">o changes in operating plans</FONT><BR>
<BR>
<FONT size=2 face="serif">o lower than anticipated sales</FONT><BR>
<BR>
<FONT size=2 face="serif">o increased operating costs; and</FONT><BR>
<BR>
<FONT size=2 face="serif">o potential acquisitions</FONT></P>
<P align="justify">
<FONT size=2 face="serif">However, additional financing may not be available on commercially reasonable terms, if at all.</FONT></P>
<P align="justify">
<I><FONT size=2 face="serif">Our stock price may fluctuate, which may make it difficult to resell your shares at attractive prices.</FONT></I></P>
<P align="justify">
<FONT size=2 face="serif">The market price of our common stock may experience fluctuations. The market price of our common stock has been volatile, and may continue to be volatile. Factors that could cause volatility in our stock price
include:</FONT></P>
<P align="justify">
<FONT size=2 face="serif">o fluctuations in our quarterly operating results;</FONT><BR>
<BR>
<FONT size=2 face="serif">o stock market prices and volume fluctuations generally;</FONT></P>
<P align="center">
<FONT size=2 face="serif">--13--</FONT></P>
<P align="justify">&nbsp;</P>

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<P align="left" style="page-break-before:always"></P><PAGE>


<P align="justify">
<FONT size=2 face="serif">o economic conditions specific to any of the industries that we conduct business in;</FONT></P>
<P align="justify">
<FONT size=2 face="serif">o announcements by us or our competitors relating to new services or technologies, significant acquisitions, significant orders, strategic relationships, joint ventures or capital commitments; and</FONT></P>
<P align="justify">
<FONT size=2 face="serif">o applicable regulatory developments.</FONT></P>
<P align="justify">
<I><FONT size=2 face="serif">If we are delisted from the Nasdaq Capital Market, you may also find it more difficult to trade our common stock due to &#147;penny stock&#148; rules.</FONT></I></P>
<P align="justify">
<FONT size=2 face="serif">If we are unable to satisfy the requirements for continued quotation on Nasdaq, trading, if any, in our common stock would be conducted in the over-the-counter market in what is commonly referred to as the &#147;pink sheets&#148; or
on the OTC Bulletin Board. If our shares become subject to the regulations on penny stocks, the price and ability to sell our shares would be severely affected because the shares could only be sold in compliance with the penny stock
rules.</FONT></P>
<P align="justify">
<I><FONT size=2 face="serif">The issuance of shares upon conversion of our convertible securities and exercise of outstanding warrants may cause immediate and substantial dilution to our existing stockholders.</FONT></I></P>
<P align="justify">
<FONT size=2 face="serif">As of July 2, 2008, we had outstanding warrants to purchase 2,684,091 shares of our common stock, of which warrants to purchase 408,091 shares of our common stock have an exercise price of &#36;25.16 per share, warrants to
purchase 1,695,000 shares of our common stock have an exercise price of &#36;4.20 per share and warrants to purchase 581,000 shares of our common stock have an exercise price of &#36;4.20 per share. As of July 2, 2008, we also had outstanding
convertible notes having an aggregate principal balance of &#36;951,758 which are convertible into 793,132 shares of our common stock at a conversion price of &#36;1.20 per share. Subject to the terms of the Convertible Notes we may also issue
shares of our common stock to pay interest due on the Convertible Notes. The issuance of shares of our common stock upon the exercise of warrants or upon conversion of the notes may result in substantial dilution to the interests of other
stockholders.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS </FONT></B><FONT size=2 face="serif"> </FONT></P>
<P align="justify">
<FONT size=2 face="serif">We and our representatives may from time to time make written or oral statements that are &#147;forward-looking,&#148; including statements contained in this prospectus and other filings with the Securities and Exchange Commission,
reports to our stockholders and news releases. All statements that express expectations, estimates, forecasts or projections are forward-looking statements. In addition, other written or oral statements which constitute forward-looking statements
may be made by us or on our behalf. Words such as &#147;expects,&#148; &#147;anticipates,&#148; &#147;intends,&#148; &#147;plans,&#148; &#147;believes,&#148; &#147;seeks,&#148; &#147;estimates,&#148; &#147;projects,&#148; &#147;forecasts,&#148; &#147;may,&#148; &#147;should,&#148; variations of such words and similar expressions are intended to identify
forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties, and assumptions which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is
expressed or forecasted in or suggested by such forward-looking statements. Among the important factors on which such statements are based are assumptions concerning our ability to obtain additional funding, our ability to compete against our
competitors, our ability to integrate our acquisitions and our ability to attract and retain key employees.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">DETERMINATION OF OFFERING PRICE</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">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 align="center">
<FONT size=2 face="serif">--14--</FONT></P>

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<P align="left" style="page-break-before:always"></P><PAGE>


<P align="justify">
<B><FONT size=2 face="serif">USE OF PROCEEDS</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">We will not receive any proceeds from the sale of common shares by the Selling Stockholders pursuant to this prospectus. The Selling Stockholders will receive all proceeds from the sales of these common shares, and they
will pay any and all expenses incurred by them for brokerage, accounting or tax services (or any other expenses incurred by them in disposing of their common shares).</FONT></P>
<P align="justify">
<FONT size=2 face="serif">The shares of common stock offered hereby are being registered for the account of the Selling Stockholders named in this prospectus. As a result, all proceeds from the sales of the common stock will go to the Selling
Stockholders and we will not receive any proceeds from the resale of the common stock by the Selling Stockholders. We will incur all costs associated with this registration statement and prospectus, which are currently estimated to be approximately
&#36;5,000.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">SELLING STOCKHOLDERS</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">A total of 800,000 shares were issuable to officers, directors, employees and consultants of the Company pursuant to our 2008 Stock Incentive Plan. These 800,000 shares have been issued to the Selling Stockholders. The
following table sets forth, as of July 2, 2008, information regarding the beneficial ownership of our common stock by the Selling Stockholders. In the table below, the percentage ownership after the offering is based upon the assumed sale by the
Selling Stockholders of all shares they may offer for sale pursuant to this prospectus. Beneficial ownership is determined according to the rules of the Securities and Exchange Commission, and generally means that a person has beneficial ownership
of a security if he, she or it possesses sole or shared voting or investment power of that security. The percentages for each Selling Stockholder are calculated based on 2,787,469 shares issued and outstanding as of July 2, 2008, not including 9
shares held in treasury, plus any additional shares that the Selling Stockholder is deemed to beneficially own as set forth in the table. The shares offered by this prospectus shall be deemed to include shares offered by any pledgee, donee,
transferee or other successor in interest of any of the Selling Stockholders below, provided that this prospectus is amended or supplemented if required by applicable law. Except as noted, none of the Selling Stockholders have had any material
relationship with us or any of our predecessors or affiliates within the past three years.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">The information in this table is based upon information provided by each respective Selling Stockholder.</FONT></P>

<TABLE align="center" border=0 width=90% cellspacing=0 cellpadding=0 STYLE="border:1px solid #000000">
<TR>
     <TD width=15%></TD>
     <TD width=1%></TD>
     <TD width=1%></TD>
     <TD width=13%></TD>
     <TD width=1%></TD>
     <TD width=1%></TD>
     <TD width=7%></TD>
     <TD width=6%></TD>
     <TD width=1%></TD>
     <TD width=1%></TD>
     <TD width=13%></TD>
     <TD width=1%></TD>
     <TD width=1%></TD>
     <TD width=13%></TD>
     <TD width=1%></TD>
     <TD width=1%></TD>
     <TD width=13%></TD>
     </TR>
<TR valign="bottom">
	<TD align=right nowrap>
      <div align="left">&nbsp;&nbsp;&nbsp;<B><U><FONT size=2 face="serif">Name</FONT></U></B> </div></TD>
	<TD align=left nowrap style="border-right:1px solid #000000">&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap colspan=5>
<B><FONT size=2 face="serif">Shares Beneficially Owned</FONT></B>	</TD>
	<TD align=left nowrap style="border-right:1px solid #000000">&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<B><U><FONT size=2 face="serif">Number Of</FONT></U></B>&nbsp;	</TD>
	<TD style="border-right:1px solid #000000">&nbsp;</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap colspan=4>
<B><FONT size=2 face="serif">Shares Beneficially Owned Upon</FONT></B>	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap style="border-right:1px solid #000000">&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap colspan=5>
<B><FONT size=2 face="serif">Prior to this Offering</FONT></B>	</TD>
	<TD align=left nowrap style="border-right:1px solid #000000">&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<B><U><FONT size=2 face="serif">Shares Being</FONT></U></B>&nbsp;	</TD>
	<TD style="border-right:1px solid #000000">&nbsp;</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap colspan=4>
<B><FONT size=2 face="serif">Completion of the Offering (1)</FONT></B>	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap style="border-right:1px solid #000000">&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;	</TD>
	<TD colspan="2" align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap style="border-right:1px solid #000000">&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<B><U><FONT size=2 face="serif">Offered</FONT></U></B>&nbsp;	</TD>
	<TD style="border-right:1px solid #000000">&nbsp;</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<B><U><FONT size=2 face="serif">Number</FONT></U></B>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD colspan="2" align=center nowrap style="border-bottom:1px solid #000000;">
      <B><U><FONT size=2 face="serif">Percent</FONT></U></B>	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<B><U><FONT size=2 face="serif">Number</FONT></U></B>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<B><U><FONT size=2 face="serif">Percent</FONT></U></B>	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Robert Benou (2)</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">316,751</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">11.36</FONT></TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">%</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">237,500</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">79,251</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2.84<FONT size=2 face="serif">%</FONT></FONT>	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Marc Benou (3)</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">318,700</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">11.43</FONT></TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">%</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">237,000</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">81,700</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2.93%</FONT>	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;David Peison (4)</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">45,834</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">1.64</FONT> </TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">%</FONT>&nbsp; </TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">35,000</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">10,834</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">*</FONT>	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Louis Massad (5)</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">43,750</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">1.56</FONT> </TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">%</FONT>&nbsp; </TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">35,000</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">8,750</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">*</FONT>	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Edward J. Rielly(6)</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">35,000</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">1.26</FONT> </TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">%</FONT>&nbsp; </TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">35,000</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">0</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">*</FONT>	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Tom Fogg (7)</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">29,250</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">1.05</FONT> </TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">%</FONT>&nbsp; </TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">25,000</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">4,250</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">*</FONT>	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Thomas DiVito(8)</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">30,000</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">1.08</FONT> </TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">%</FONT>&nbsp; </TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">30,000</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">0</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">*</FONT>	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Albert Lenhardt(9)</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">30,000</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">1.08</FONT> </TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">%</FONT>&nbsp; </TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">30,000</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">0</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">*</FONT>	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Frank Bruekl (10)</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">30,000</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">1.08</FONT> </TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">%</FONT>&nbsp; </TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">30,000</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">0</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">*</FONT>	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Theodora DePrisco (11)</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">20,000</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">*</FONT> </TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">20,000</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">0</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">*</FONT>	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Andrew Herrick (12)</FONT>	</TD>
	<TD align=left nowrap style="border-right:1px solid #000000">&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=2 face="serif">15,000</FONT>&nbsp;	</TD>
	<TD style="border-right:1px solid #000000">&nbsp;</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap><FONT size=2 face="serif">*</FONT> </TD>
	<TD align=right nowrap>&nbsp;</TD>
	<TD align=left nowrap style="border-right:1px solid #000000">&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=2 face="serif">15,000</FONT>&nbsp;	</TD>
	<TD style="border-right:1px solid #000000">&nbsp;</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=2 face="serif">0</FONT>&nbsp;	</TD>
	<TD style="border-right:1px solid #000000">&nbsp;</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=2 face="serif">*</FONT>	</TD>
  </TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="serif">--15--</FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE>


<TABLE align="center" border=0 width=90% cellspacing=0 cellpadding=0 STYLE="border:1px solid #000000">
<TR>
     <TD width=15%></TD>
     <TD width=1%></TD>
     <TD width=1%></TD>
     <TD width=13%></TD>
     <TD width=1%></TD>
     <TD width=1%></TD>
     <TD width=13%></TD>
     <TD width=1%></TD>
     <TD width=1%></TD>
     <TD width=13%></TD>
     <TD width=1%></TD>
     <TD width=1%></TD>
     <TD width=13%></TD>
     <TD width=1%></TD>
     <TD width=1%></TD>
     <TD width=13%></TD>
     </TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Martha Nunez (13)</FONT></FONT>	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;									</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">15,000</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;		</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">*</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">15,000</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=right nowrap style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">0</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
<TD style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">*</FONT>&nbsp; </TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Marina Krigeris (14)</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">5,000</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">*</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">5,000</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=right nowrap style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">0</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">*</FONT>&nbsp; </TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Vincent Locollo (15)</FONT></FONT>	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">5,000</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">*</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">5,000</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=right nowrap style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">0</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">*</FONT>&nbsp; </TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Andrzej
	    Zielinski (16)</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">5,000</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">*</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">10,000</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=right nowrap style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">0</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">*</FONT>&nbsp; </TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Alexander Kaminsky (17)</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">5,000</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">*</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">5,000</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=right nowrap style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">0</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">*</FONT>&nbsp; </TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">John Engelhardt (18)</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">5,000</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">*</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">5,000</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=right nowrap style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">0</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">*</FONT>&nbsp; </TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Malcolm Swanson (19)</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">10,500</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">*</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">10,500</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=right nowrap style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">0</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">*</FONT>&nbsp; </TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">David Roth (20)</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">15,000</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">*</FONT>&nbsp;	</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">15,000</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=right nowrap style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">0</FONT>&nbsp; </TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
    <TD style="border-left:1px solid #000000; border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">*</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;&nbsp;&nbsp;<B><FONT size=2 face="serif">TOTAL</FONT></B>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD style="border-left:1px solid #000000;">&nbsp;</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;</TD>
	<TD style="border-left:1px solid #000000;">&nbsp;</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap style="border-left:1px solid #000000;">&nbsp;</TD>
	<TD align=center nowrap><FONT size=2 face="serif">800,000</FONT>&nbsp; </TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap style="border-left:1px solid #000000;">&nbsp;</TD>
	<TD align="center">&nbsp;</TD>
	<TD>&nbsp;	</TD>
    <TD style="border-left:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap>&nbsp;	</TD>
</TR>
</TABLE>
<BR>
<P align="justify">
<FONT size=2 face="serif">* Less than one percent.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">(1) Assumes that all shares offered are sold.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">(2) Robert Benou has been chief executive officer and chairman of Conolog since May 2001. Robert Benou also serves as Conolog&#146;s chief financial officer. </FONT></P>
<P align="justify">
<FONT size=2 face="serif">(3) Marc Benou has been president and chief operating officer of Conolog since May 2001. Marc Benou also serves as a director of Conolog and as Conolog&#146;s secretary. </FONT></P>
<P align="justify">
<FONT size=2 face="serif">(4) David Peison has been a director of Conolog since October 2004. </FONT></P>
<P align="justify">
<FONT size=2 face="serif">(5) Louis Massad has been a director of Conolog since April 1995. </FONT></P>
<P align="justify">
<FONT size=2 face="serif">(6) Edward J. Rielly has been a director of Conolog since January 1998.</FONT></P>
<P align="justify"><FONT size=2 face="serif"> (7) Tom Fogg has been Conolog&#146;s vice president, engineering, since 1986.</FONT></P>
<P align="justify"><FONT size=2 face="serif"> (8) Thomas DiVito has been an employee
    of Conolog since January 2005.</FONT></P>
<P align="justify"><FONT size=2 face="serif"> (9) Albert Lenhardt has been an
    employee of Conolog since 1988. </FONT></P>
<P align="justify">
<FONT size=2 face="serif">(10) Frank Bruekl has been an employee of Conolog since 1984.</FONT></P>
<P align="justify"><FONT size=2 face="serif"> (11) Theodore DePrisco has been
    an employee of Conolog since 2004.</FONT></P>
<P align="justify"><FONT size=2 face="serif"> (12) Andrew Herrick has been an
    employee of Conolog since January 2007.</FONT></P>
<P align="justify"><FONT size=2 face="serif"> (13) Martha Nunez has been an employee
  of Conolog since 1992. </FONT></P>
<P align="justify">
<FONT size=2 face="serif">(14) Marina Krigeris has been an employee of Conolog since 1990. </FONT></P>
<P align="center">
<FONT size=2 face="serif">--16--</FONT></P>

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<P align="left" style="page-break-before:always"></P><PAGE>


<P align="justify">
<FONT size=2 face="serif">(15) Vincent Locollo has been an employee of Conolog since 2002. </FONT></P>
<P align="justify">
<FONT size=2 face="serif">(16) Adrzej Zielinski has been an employee of Conolog since 2004. </FONT></P>
<P align="justify">
<FONT size=2 face="serif">(17) Alexander Kaminsky has been an employee of Conolog since May 2006. </FONT></P>
<P align="justify">
<FONT size=2 face="serif">(18) John Engelhardt has been an employee of Conolog since 1996. </FONT></P>
<P align="justify">
<FONT size=2 face="serif">(19) Malcolm Swanson has provided sales and marketing consulting services to Conolog since 2003.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">(20) David Roth has provided business consulting services to Conolog since 2004. </FONT></P>

<P align="center">
<FONT size=2 face="serif">--17--</FONT></P>

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<P align="left" style="page-break-before:always"></P><PAGE>


<P align="justify">
<B><FONT size=2 face="serif">PLAN OF DISTRIBUTION</FONT></B><BR>
<BR>
<B><FONT size=2 face="serif">Timing of Sales </FONT></B><FONT size=2 face="serif"> </FONT></P>
<P align="justify">
<FONT size=2 face="serif">Under our 2008 Stock Incentive Plan, we were authorized to issue up to 800,000 shares of our common stock. These 800,000 shares have been issued to the Selling Stockholders.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">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 align="justify">
<B><FONT size=2 face="serif">No Known Agreements to Resell the Shares</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">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 align="justify">
<B><FONT size=2 face="serif">Offering Price</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">The sales price offered by the Selling Stockholders to the public may be:</FONT></P>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR>
     <TD width=5%></TD>
     <TD width=2%></TD>
     <TD width=93%></TD></TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=2 face="serif">1.</FONT></TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">the market price prevailing at the time of sale;</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
  <TD align=right nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=2 face="serif">2.</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">a price related to such prevailing market price; or</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
  <TD align=right nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=2 face="serif">3.</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">such other price as the Selling Stockholders determine
from time to time.</FONT>&nbsp;	</TD>
</TR>
</TABLE>
<BR>
<P align="justify">
<B><FONT size=2 face="serif">Manner Of Sale</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">The common shares may be sold by means of one or more of the following methods:</FONT></P>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR>
     <TD width=5%></TD>
     <TD width=2%></TD>
     <TD width=93%></TD></TR>
<TR valign="bottom">
	<TD align=right valign="top" nowrap>
<FONT size=2 face="serif">1.</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left valign="top">
<FONT size=2 face="serif">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></TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=2 face="serif">2.</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left valign="bottom">
<FONT size=2 face="serif">purchases by a broker-dealer as principal and resale
by that broker-dealer for its account pursuant to this prospectus;</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=3>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=2 face="serif">3.</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">ordinary brokerage transactions in which the broker
solicitx purchasers;</FONT>&nbsp;&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=2 face="serif">4.</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">through options, swaps or derivatives;</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=2 face="serif">5.</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">in transactions to cover short sales;</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=2 face="serif">6.</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">privately negotiated transactions; or</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=2 face="serif">7.</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">in a combination of any of the above methods.</FONT>&nbsp;	</TD>
</TR>
</TABLE>
<BR>
<P align="justify">
<FONT size=2 face="serif">The Selling Stockholders 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 Stockholders may
arrange for other brokers or dealers to participate. Brokers or dealers may receive commissions, discounts or concessions from the Selling Stockholders, 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 align="justify">
<FONT size=2 face="serif">Broker-dealers may agree with a Selling Stockholder 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
Stockholder, to purchase as principal any unsold common shares at the price required to fulfill the broker-dealer commitment to the Selling Stockholder.</FONT></P>
<P align="center">
<FONT size=2 face="serif">--18--</FONT></P>

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<P align="left" style="page-break-before:always"></P><PAGE>


<P align="justify">
<FONT size=2 face="serif">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.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">If our Selling Stockholders 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 align="justify">
<FONT size=2 face="serif">The Selling Stockholders and any broker-dealers or agents that participate with the Selling Stockholders in the sale of the common shares may be deemed to be &#147;underwriters&#148; 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 align="justify">
<B><FONT size=2 face="serif">Sales Pursuant to Rule 144</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">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 align="justify">
<B><FONT size=2 face="serif">Regulation M</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">The Selling Stockholders must comply with the requirements of the Securities Act and the Exchange Act in the offer and sale of the common stock. In particular we will advise the Selling Stockholders that the
anti-manipulation rules of Regulation M under the Exchange Act may apply to sales of common shares in the market and to the activities of the Selling Stockholders and their affiliates. Regulation M under the Exchange Act prohibits, with certain
exceptions, participants in a distribution from bidding for, or purchasing for an account in which the participant has a beneficial interest, any of the securities that are the subject of the distribution.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">Accordingly, during such times as a Selling Stockholder may be deemed to be engaged in a distribution of the common stock, and therefore be considered to be an underwriter, the Selling Stockholder must comply with
applicable law and, among other things:</FONT></P>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR>
     <TD width=5%></TD>
     <TD width=2%></TD>
     <TD width=93%></TD></TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=2 face="serif">1.</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left>
<FONT size=2 face="serif">may not engage in any stabilization activities in connection
with our common stock;</FONT>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=3>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=2 face="serif">2.</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">may not cover short sales by purchasing shares while
the distribution is taking place; and</FONT>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=3>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right valign="top" nowrap>
<FONT size=2 face="serif">3.</FONT>			</TD>
	<TD>&nbsp;			</TD>
	<TD align=left>
<FONT size=2 face="serif">may not bid for or purchase any of our securities or attempt to</FONT>&nbsp;
<FONT size=2 face="serif">induce any person to purchase any of our securities other than as</FONT>&nbsp;
<FONT size=2 face="serif">permitted under the Exchange Act.</FONT>&nbsp;	</TD>
</TR>
</TABLE>
<BR>
<P align="justify">
<FONT size=2 face="serif">In addition, we will make copies of this prospectus available to the Selling Stockholders for the purpose of satisfying the prospectus delivery requirements of the Securities Act.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">State Securities Laws</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">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 align="justify">
<B><FONT size=2 face="serif">Expenses of Registration</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">We are bearing all costs relating to the registration of the common stock. These expenses are estimated to be &#36;5,000, including, but not limited to, legal, accounting, printing and mailing fees. The Selling
Stockholders, 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 align="center">
<FONT size=2 face="serif">--19--</FONT></P>

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<P align="left" style="page-break-before:always"></P><PAGE>


<P align="justify">
<B><FONT size=2 face="serif">LEGAL MATTERS</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">The validity of the common stock has been passed upon by Sichenzia Ross Friedman Ference LLP, New York, New York.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">EXPERTS</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">The financial statements incorporated by reference in the prospectus have been audited by Bagell, Josephs, Levine &amp; Company, LLC, an independent registered public accounting firm, to the extent and for the periods set
forth in their report included in our 10-KSB for the year ended July 31, 2007 and are incorporated in reliance upon such report given upon the authority of said firm as experts in auditing and accounting.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">INTERESTS OF NAMED EXPERTS AND COUNSEL</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">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. </FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">INFORMATION INCORPORATED BY REFERENCE</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">The Securities and Exchange Commission 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 align="justify">
<FONT size=2 face="serif">The following documents filed with the SEC are incorporated herein by reference:</FONT></P>
<UL>
<LI>
<P align="left"><FONT size=2 face="serif">Reference is made to Registrant's current report on Form 8-K filed with the SEC on July 7, 2008, which is hereby</FONT> <FONT size=2 face="serif">incorporated by reference.</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Reference is made to Registrant's current report on Form 8-K filed with the SEC on June 19, 2008, which is hereby</FONT> <FONT size=2 face="serif">incorporated by reference.</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Reference is made to the Registrant's quarterly report on Form 10-QSB for the period ending April 30, 2008, as filed</FONT> <FONT size=2 face="serif">with the SEC on June 16, 2008.</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Reference is made to the Schedule 14-A filed by the Registrant with the SEC on April 21, 2008, which is hereby</FONT> <FONT size=2 face="serif">incorporated by reference.</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Reference is made to Registrant's Current Report on Form 8-K filed with the SEC on March 26, 2008, which is hereby</FONT> <FONT size=2 face="serif">incorporated by reference.</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Reference is made to the Registrant's quarterly report on Form 10-QSB for the period ending January 31, 2008, as filed</FONT> <FONT size=2 face="serif">with the SEC on March 14, 2008.</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Reference is made to the Schedule 14-A filed by the Registrant with the SEC on February 15, 2008, which is hereby</FONT> <FONT size=2 face="serif">incorporated by reference.</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Reference is made to the Registrant's quarterly report on Form 10-QSB for the period ending October 31, 2007, as</FONT> <FONT size=2 face="serif">filed with the SEC on December 17, 2007, which is hereby
incorporated by reference.</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Reference is made to Registrant's current report on Form 8-K filed with the SEC on November 6, 2007, which is</FONT> <FONT size=2 face="serif">hereby incorporated by reference.</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Reference is made to the Registrant's annual report on Form 10-KSB for the period ending July 31, 2007, as filed with</FONT> <FONT size=2 face="serif">the SEC on October 29, 2007, which is hereby
incorporated by reference.</FONT></P></LI>
</UL>
<P align="center">
<FONT size=2 face="serif">--20--</FONT></P>

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<P align="left" style="page-break-before:always"></P><PAGE>


<UL>
<LI>
<P align="left"><FONT size=2 face="serif">The description of the Company's Common Stock contained in its Registration Statement on Form SB-2/A filed on</FONT> <FONT size=2 face="serif">December 19, 2007 including all amendments or reports filed for
the purpose of updating such description.</FONT></P></LI>
</UL>
<P align="justify">
<FONT size=2 face="serif">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 Robert Benou.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">DISCLOSURE OF COMMISSION POSITION ON</FONT></B><BR>
<B><FONT size=2 face="serif">INDEMNIFICATION FOR SECURITIES ACT LIABILITIES</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">The Company's Certificate of Incorporation limits the liability of Directors to the maximum extent permitted by Section 102(b)(7) of the Delaware General Corporation Law. Delaware law provides that the directors of a
corporation will not be personally liable to such corporation or its stockholders for monetary damages for breach of their fiduciary duties as directors, except for liability (i) for any breach of their duty of loyalty to the corporation or its
stockholders; (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law; (iii) for unlawful payments of dividends or unlawful stock repurchases or redemptions as provided in Section 174 of the
Delaware General Corporation Law; or (iv) for any transaction from which the director derives an improper personal benefit. The Company's By-Laws provide that the Company shall indemnify its directors and officers under certain circumstances,
including those circumstances in which indemnification would otherwise be discretionary.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">Insofar as indemnification for liabilities arising under the Securities Act of 1933 (the &#147;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 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 us of expenses incurred or paid by our directors, officers or controlling persons in the successful defense of any action, suit or proceedings, is asserted by such director,
officer, or controlling person in connection with any securities being registered, we will, unless in the opinion of our counsel the matter has been settled by controlling precedent, submit to court of appropriate jurisdiction the question whether
such indemnification by us is against public policy as expressed in the Act and will be governed by the final adjudication of such issues.</FONT></P>
<P align="justify">
<B><FONT size=2 face="serif">ADDITIONAL INFORMATION AVAILABLE TO YOU</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">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 align="center">
<FONT size=2 face="serif">--21--</FONT></P>

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<P align="center">
<B><FONT size=2 face="serif">INFORMATION NOT REQUIRED IN PROSPECTUS</FONT></B></P>
<P align="justify">
<B><FONT size=2 face="serif">Item 3. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incorporation of Documents By Reference.</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">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 &#147;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:</FONT></P>
<P align="justify">
<FONT size=2 face="serif">The following documents filed with the SEC are incorporated herein by reference:</FONT></P>
<UL>
<LI>
<P align="left"><FONT size=2 face="serif">Reference is made to Registrant's current report on Form 8-K filed with the SEC on June 19, 2008, which is hereby</FONT> <FONT size=2 face="serif">incorporated by reference.</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Reference is made to the Registrant's quarterly report on Form 10-QSB for the period ending April 30, 2008, as filed</FONT> <FONT size=2 face="serif">with the SEC on June 16, 2008.</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Reference is made to the Schedule 14-A filed by the Registrant with the SEC on April 21, 2008, which is hereby</FONT> <FONT size=2 face="serif">incorporated by reference.</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Reference is made to Registrant's Current Report on Form 8-K filed with the SEC on March 26, 2008, which is hereby</FONT> <FONT size=2 face="serif">incorporated by reference.</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Reference is made to the Registrant's quarterly report on Form 10-QSB for the period ending January 31, 2008, as filed</FONT> <FONT size=2 face="serif">with the SEC on March 14, 2008.</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Reference is made to the Schedule 14-A filed by the Registrant with the SEC on February 15, 2008, which is hereby</FONT> <FONT size=2 face="serif">incorporated by reference.</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Reference is made to the Registrant's quarterly report on Form 10-QSB for the period ending October 31, 2007, as</FONT> <FONT size=2 face="serif">filed with the SEC on December 17, 2007, which is hereby
incorporated by reference.</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Reference is made to Registrant's current report on Form 8-K filed with the SEC on November 6, 2007, which is</FONT> <FONT size=2 face="serif">hereby incorporated by reference.</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Reference is made to the Registrant's annual report on Form 10-KSB for the period ending July 31, 2007, as filed with</FONT> <FONT size=2 face="serif">the SEC on October 29, 2007, which is hereby
incorporated by reference.</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">The description of the Company's Common Stock contained in its Registration Statement on Form SB-2/A filed on</FONT> <FONT size=2 face="serif">December 19, 2007 including all amendments or reports filed for
the purpose of updating such description.</FONT></P></LI>
</UL>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR>
     <TD width=10%></TD>
     <TD width=90%></TD></TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="serif">Item 4.</FONT></B>&nbsp;	</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="serif">Description of Securities.</FONT></B>&nbsp;	</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Not applicable.</FONT>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="serif">Item 5.</FONT></B>&nbsp;	</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="serif">Interests of Named Experts and Counsel.</FONT></B>&nbsp;	</TD>
</TR>
</TABLE>
<BR>
<P align="justify">
<FONT size=2 face="serif">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. </FONT></P>
<P align="center">
<FONT size=2 face="serif">--22--</FONT></P>

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<P align="left" style="page-break-before:always"></P><PAGE>


<P align="justify">
<B><FONT size=2 face="serif">Item 6. Indemnification of Directors and Officers.</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">The Company's Certificate of Incorporation limits the liability of Directors to the maximum extent permitted by Section 102(b)(7) of the Delaware General Corporation Law. Delaware law provides that the directors of a
corporation will not be personally liable to such corporation or its stockholders for monetary damages for breach of their fiduciary duties as directors, except for liability (i) for any breach of their duty of loyalty to the corporation or its
stockholders; (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law; (iii) for unlawful payments of dividends or unlawful stock repurchases or redemptions as provided in Section 174 of the
Delaware General Corporation Law; or (iv) for any transaction from which the director derives an improper personal benefit. The Company's By-Laws provide that the Company shall indemnify its directors and officers under certain circumstances,
including those circumstances in which indemnification would otherwise be discretionary.</FONT></P>
<P align="justify">
<FONT size=2 face="serif">Insofar as indemnification for liabilities arising under the Securities Act of 1933 (the &#147;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 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 us of expenses incurred or paid by our directors, officers or controlling persons in the successful defense of any action, suit or proceedings, is asserted by such director,
officer, or controlling person in connection with any securities being registered, we will, unless in the opinion of our counsel the matter has been settled by controlling precedent, submit to court of appropriate jurisdiction the question whether
such indemnification by us is against public policy as expressed in the Act and will be governed by the final adjudication of such issues.</FONT></P>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR>
     <TD width=10%></TD>
     <TD width=90%></TD></TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="serif">Item 7.</FONT></B>&nbsp;	</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="serif">Exemption from Registration Claimed</FONT></B>&nbsp;	</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Not applicable.</FONT>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="serif">Item 8.</FONT></B>&nbsp;	</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="serif">Exhibits.</FONT></B>&nbsp;	</TD>
</TR>
</TABLE>
<BR>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR>
  <TD width=10%></TD>
     <TD width=10%></TD>
     <TD width=80%></TD></TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">EXHIBIT</FONT>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
	<TD align=left nowrap>
<U><FONT size=2 face="serif">NUMBER</FONT></U>&nbsp;	</TD>
	<TD align=left nowrap>
<U><FONT size=2 face="serif">EXHIBIT</FONT></U>&nbsp;	</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">4.1</FONT>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">2008 Stock Incentive Plan</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">5.1</FONT>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">Opinion of Sichenzia Ross Friedman Ference LLP</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">23.1</FONT>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">Consent of Sichenzia Ross Friedman Ference LLP (included
in Exhibit 5.1)</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">23.2</FONT>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">Consent of Bagell, Josephs, Levine &amp; Company, LLC.</FONT>&nbsp;	</TD>
</TR>
</TABLE>
<BR>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR>
     <TD width=10%></TD>
     <TD width=90%></TD></TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="serif">Item 9.</FONT></B>&nbsp;	</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="serif">Undertakings.</FONT></B>&nbsp;	</TD>
</TR>
</TABLE>
<BR>
<P align="justify">
<FONT size=2 face="serif">(a) The undersigned registrant hereby undertakes:</FONT></P>
<div style="margin-left:20px"><P align="justify">
<FONT size=2 face="serif">(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</FONT></P>
<P align="justify">
<FONT size=2 face="serif">(i) To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;</FONT></P>
</div><P align="center">
<FONT size=2 face="serif">--23--</FONT></P>

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<P align="left" style="page-break-before:always"></P><PAGE>


<div style="margin-left:20px"><P align="justify">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">(ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or
in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered
would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the &#147;Calculation of Registration Fee&#148; table in the effective registration statement;</FONT></P>
<P align="justify">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">(iii) 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;</FONT></P>
</div><P align="justify">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">PROVIDED, HOWEVER, that paragraphs (1)(i), and (1)(ii) do not apply if the Registration Statement is on Form S-8 and if the information required to be included in a post-effective amendment by
those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration
statement.</FONT></P>
<P align="justify">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">(2) That, for the purpose of determining any liability under the Securities Act of 1933, 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.</FONT></P>
<P align="justify">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">(3) 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></P>
<P align="justify">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">(4) That, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant to Section 13(a) or 15(d) of the Securities Exchange
Act of 1934 (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 align="justify">
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser:</FONT></P>
<div style="margin-left:20px"><P align="justify">
<FONT size=2 face="serif">(A) Each prospectus filed by a Registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration
statement; and</FONT></P>
<P align="justify">
<FONT size=2 face="serif">(B) Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5) or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii) or (x) for
the purpose of providing the information required by Section 10(a) of the Securities Act of 1933 shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after
effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be
deemed to be a new effective date of the registration statement relating to the securities in the registration statement to which the prospectus relates, and the offering of such securities at that time shall be deemed to be the initial
</FONT><I><FONT size=2 face="serif">bona fide</FONT></I><FONT size=2 face="serif"> offering thereof. </FONT><I><FONT size=2 face="serif">provided, however</FONT></I><FONT size=2 face="serif">, that no statement made in a registration statement or
prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time
of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such
effective date.</FONT></P>
</div><P align="justify">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">(6) That, for the purpose of determining liability of a Registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities, each undersigned Registrant
undertakes that in a primary offering of securities of an undersigned Registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to
such purchaser by means of any of the following communications, the</FONT></P>
<P align="center">
<FONT size=2 face="serif">--24--</FONT></P>

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<P align="left" style="page-break-before:always"></P><PAGE>


<P align="justify">
<FONT size=2 face="serif">undersigned Registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:</FONT></P>
<div style="margin-left:20px"><P align="justify">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">(i) Any preliminary prospectus or prospectus of an undersigned Registrant relating to the offering required to be filed pursuant to Rule 424;</FONT></P>
<P align="justify">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">(ii) Any free writing prospectus relating to the offering prepared by or on behalf of an undersigned Registrant or used or referred to by an undersigned Registrant;</FONT></P>
<P align="justify">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">(iii) The portion of any other free writing prospectus relating to the offering containing material information about an undersigned Registrant or its securities provided by or on behalf of an
undersigned Registrant; and</FONT></P>
<P align="justify">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">(iv) Any other communication that is an offer in the offering made by an undersigned Registrant to the purchaser.</FONT></P>
</div><P align="justify">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">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 Securities Act and is, therefore, unenforceable.</FONT></P>
<P align="justify">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">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 align="center">
<FONT size=2 face="serif">--25--</FONT></P>

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<P align="left" style="page-break-before:always"></P><PAGE>


<P align="center">
<B><FONT size=2 face="serif">SIGNATURES</FONT></B></P>
<P align="justify">
<FONT size=2 face="serif">In accordance with 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 Form S-8 to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Somerville, State of New Jersey, on July 8, 2008.</FONT></P>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR>
     <TD width=50%></TD>
     <TD width=3%></TD>
     <TD width=47%></TD></TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD colspan="2"><FONT size=2 face="serif">Conolog Corporation</FONT></TD>
  </TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;	</TD>
	<TD><FONT size=2 face="serif">&nbsp;&nbsp;By:</FONT> </TD>
	<TD align=left nowrap>
<U><FONT size=2 face="serif">/s/ Robert S. Benou</FONT></U>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">Robert S. Benou</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<I><FONT size=2 face="serif">Chief Executive Officer and Chief Financial Officer</FONT></I>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<I><FONT size=2 face="serif">(Principal Executive Officer, Principal Financial Officer, and</FONT></I>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<I><FONT size=2 face="serif">Principal Accounting Officer)</FONT></I>&nbsp;	</TD>
</TR>
</TABLE>
<BR>
<P align="justify">
<FONT size=2 face="serif">POWER OF ATTORNEY</FONT></P>
<P align="justify">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Each person whose signature appears below hereby constitutes and appoints Robert S. Benou and Marc R. Benou and each of them, his or her true and lawful attorneys-in-fact and agents with full
power of substitution and resubstitution, for him and in his name, place, and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) and additions to this Registration Statement, and to file the same,
with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, and hereby grants to such attorneys-in-fact and agents full power and authority to do and perform each and every act and thing
requisite and necessary to be done, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or his substitute or substitutes may lawfully do or cause
to be done by virtue hereof.</FONT></P>
<P align="justify">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed below by the following persons in the capacities and on the dates
indicated.</FONT></P>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR>
     <TD width=50%></TD>
     <TD width=3%></TD>
     <TD width=47%></TD></TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Date: July 8, 2008</FONT>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">/s/</FONT>&nbsp;	</TD>
	<TD align=left nowrap>
<U><FONT size=2 face="serif">Robert S. Benou</FONT></U>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">Robert S. Benou</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">Chairman, Chief Executive Officer, Chief Financial Officer</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">and Director (Principal Executive Officer, Principal Financial</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">Officer and Principal Accounting Officer)</FONT>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=3>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap><FONT size=2 face="serif">Date: July 8, 2008</FONT>&nbsp; </TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">/s/</FONT>&nbsp;	</TD>
	<TD align=left nowrap>
<U><FONT size=2 face="serif">Marc R. Benou</FONT></U>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">Marc R. Benou</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">President, Chief Operating Officer,</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">Secretary and Director</FONT>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=3>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap><FONT size=2 face="serif">Date: July 8, 2008</FONT>&nbsp; </TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">/s/</FONT>&nbsp;	</TD>
	<TD align=left nowrap>
<U><FONT size=2 face="serif">Louis S. Massad</FONT></U>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">Louis S. Massad</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">Director</FONT>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=3>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap><FONT size=2 face="serif">Date: July 8, 2008</FONT>&nbsp; </TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap><FONT size=2 face="serif"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap><FONT size=2 face="serif">Edward J. Rielly</FONT>&nbsp;	</TD>
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	<TD align=left nowrap><FONT size=2 face="serif">Director</FONT>&nbsp;	</TD>
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	<TD align=left nowrap><FONT size=2 face="serif">Date: July 8, 2008</FONT>&nbsp; </TD>
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	<TD align=left nowrap><FONT size=2 face="serif"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT> </TD>
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	<TD align=left nowrap><FONT size=2 face="serif">David M. Peison</FONT>&nbsp;	</TD>
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	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap><FONT size=2 face="serif">Director</FONT>&nbsp;	</TD>
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{"company-data": {"conformed-name": "CONOLOG CORP", "cik": "0000023503", "assigned-sic": "3679", "irs-number": "520853566", "state-of-incorporation": "DE", "fiscal-year-end": "0731"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-152183", "film-number": "08943394"}, "business-address": {"street1": "5 COLUMBIA RD", "city": "SOMERVILLE", "state": "NJ", "zip": "08876", "phone": "9087228081"}, "mail-address": {"street1": "5 C0LUMBIA ROAD", "city": "SOMERVILLE", "state": "NJ", "zip": "08876-3588"}, "former-company": [{"former-conformed-name": "DSI SYSTEMS INC", "date-changed": "19751218"}, {"former-conformed-name": "DATA SCIENCES INC", "date-changed": "19751218"}, {"former-conformed-name": "MICROSEARCH SYSTEMS INC", "date-changed": "19690115"}]}
As Filed with the Securities and Exchange Commission
on July 8, 2008
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
CONOLOG CORPORATION
(Exact name of issuer as specified in its charter)
Delaware
22-1847286
(State or other jurisdiction of incorporation or
(I.R.S. Employer
organization)
Identification No.)
5 Columbia Road
Somerville, New Jersey 08876
TELEPHONE: (908) 722-8081
(Address of Principal Executive Offices and Zip Code)
2008 Stock Incentive Plan
(Full title of the plan)
Robert Benou
Chief Executive Officer
5 Columbia Road
Somerville, New Jersey 08876
(Name and address of agent for service)
Copies of all communications, including all communications sent to agent for service to:
David Manno, Esq.
Jeff Cahlon, Esq.
Sichenzia Ross Friedman Ference LLP
61 Broadway
New York, NY 10006
(212) 930-9700
(212) 930-9725 (fax)
CALCULATION OF REGISTRATION FEE
Proposed Maximum
Title Of Securities
Amount to be
Offering Price Per
Aggregate Offering
Amount of
to be Registered
Registered(1)
Share(2)
Price
Registration Fee
Common Stock
$.01 par value
800,000
$1.11
$888,000
$
34.90
(1) Represents the shares of
      common stock issued under Conolog Corporation's 2008 Stock Incentive
    Plan.
(2) Computed pursuant
      to Rule 457(c) and (h) on the basis of the average of the high and low
      prices of the common stock as reported on July 3, 2008 on the NASDAQ Capital
    Market.
PART 1
Information Required in this Section 10(a) Prospectus
This Registration Statement relates to two separate prospectuses.
Section 10(a) Prospectus
: Items 1 and 2, from this page, and the documents incorporated by reference pursuant to Part II, Item 3 of this prospectus, constitute a prospectus that meets
the requirements of Section 10(a) of the Securities Act of 1933, as amended (the "Securities Act").
Reoffer Prospectus
: The material that follows Item 2, up to but not including Part II of this Registration Statement, of which the reoffer prospectus is a part, constitutes a "reoffer
prospectus," prepared in accordance with the requirements of Part I of Form S-3 under the Securities Act. Pursuant to Instruction C of Form S-8, the reoffer prospectus may be used for reoffers or resales of common shares which are deemed to be
"control securities" or "restricted securities" under the Securities Act that have been acquired by the Selling Stockholders named in the reoffer prospectus.
Item 1.      Plan Information.
Conolog Corporation ("We", "us", the "Company" or "Conolog") will provide each participant (the "Recipient") with documents that contain information related to our 2008 Stock Incentive 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.
Item 2.      Registrant Information and Employee Plan Annual Information.
We will provide to each Recipient a written statement advising it 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:
Robert Benou
Chief Executive Officer
5 Columbia Road
Somerville, New Jersey 08876
(908) 722-8081
Information required by Part I to be contained in section 10(a) prospectus is omitted from the registration statement in accordance with Rule 428 under the securities Act of 1933, and Note to Part I of Form
S-8.
--3--
REOFFER PROSPECTUS
Conolog Corporation
800,000 Shares of Common Stock
This reoffer prospectus relates to 800,000 shares of our common stock, par value $0.01 per share, that may be offered and resold from time to time by existing selling stockholders identified in this prospectus (the
"Selling Stockholders") for their own account. The Selling Stockholders were issued these shares pursuant to our 2008 Stock Incentive Plan. It is anticipated that the Selling Stockholders will offer common shares for sale at prevailing
prices on the NASDAQ Capital Market on the date of sale. We will receive no part of the proceeds from sales made under this reoffer prospectus. The Selling Stockholders 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 Stockholders will be borne by us.
The shares of common stock have been issued pursuant to our 2008 Stock Incentive Plan, which authorized the issuance of up to 800,000 shares of our common stock to officers, directors, employees and consultants of the
Company. This reoffer prospectus has been prepared for the purposes of registering the common shares under the Securities Act to allow for future sales by the Selling Stockholders on a continuous or delayed basis to the public without
restriction.
The Selling Stockholders and any brokers executing selling orders on their behalf may be deemed to be "underwriters" within the meaning of the Securities Act, in which event commissions received by such brokers may be
deemed to be underwriting commissions under the Securities Act.
Our common stock is traded on the NASDAQ Capital Market under the symbol "CNLGD". On July 3, 2008 the closing price of our common stock on such market was $1.05 per share. Due to a four-for-one reverse stock split
effected on June 11, 2008, the symbol for our common stock changed from "CNLG" to "CNLGD." On July 10, 2008, the symbol for our common stock will revert back to "CNLG."
Investing in our common stock involves risks. See "Risk
Factors" on
page 12 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 PASSED UPON THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE
CONTRARY IS A CRIMINAL OFFENCE.
The date of this prospectus is July 8, 2008.
________________
--4--
TABLE OF
CONTENTS
Page
Prospectus Summary
6
Risk Factors
12
Cautionary Note Regarding Forward-Looking Statements
14
Determination Of Offering Price
14
Use of Proceeds
15
Selling Stockholders
15
Plan of Distribution
18
Legal Matters
20
Experts
20
Interest of Named Experts and Counsel
20
Information Incorporated 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--
The following summary highlights selected information contained in this prospectus. This summary does not contain all the information you should consider before investing in the securities. Before making an investment
decision, you should read the entire prospectus carefully.
PROSPECTUS SUMMARY
OUR COMPANY
We provide digital signal processing and digital security solutions to electric utilities. We sell electromagnetic products to the military and provide engineering and design services to a variety of industries, government
organizations and public utilities nationwide. Our INIVEN division sells a line of digital signal processing systems, including transmitters, receivers and multiplexers. Our headquarters are located at 5 Columbia Road, Somerville, New Jersey 08876.
Our telephone number is (800) 526-3984 or (908) 722-8081.
We were organized in 1968 and were engaged primarily in the design and manufacture of electronic components and systems for military applications.
In July 1971, we merged with DSI Systems, Inc., then engaged in the development and manufacture of terminal viewers for digital retrieval of microfilm. Later that year, we changed our name to Conolog Corporation.
In 1981 we acquired one of our customers, INIVEN Corporation ("INIVEN"). At that time, we were manufacturing, on behalf of INIVEN, a line of transmitters and receivers used for controlling and transceiving the measurement
of the flow of gases and liquids, by gas and water utilities for controlling the flow of waste water and sewage and measuring and controlling traffic.
During 1987, we made a strategic decision to redirect our focus from military to commercial markets. Since that time, we have refocused on manufacturing and marketing our products for the commercial marketplace rather than
depend on the military and defense-related markets. Our primary emphasis was on products for electric utilities, co-generation of power, gas and water companies, traffic control for departments of transport (DOT) and airports utilizing DSP (Digital
Signal Processing) technology.
In September 1998, we acquired the assets of Atlas Design, Inc., a human resource outsourcing company, to further our strategy of mergers and acquisitions, and to assist in providing qualified engineering and technical
staff in support of our longer term contracts.
In January 2001, we acquired substantially all of the assets of Prime Time Staffing Inc. and Professional Temp Solutions, Inc. These companies provided permanent and temporary employees for the graphics design firms, book
publishing companies and engineering businesses.
During the year ended July 31, 2001, we formed a wholly owned subsidiary, Lonogoc Corporation. In August, 2000, Lonogoc Corporation purchased the assets of Independent Computer Maintenance Corporation, which provided
installation, maintenance, and troubleshooting of computer systems and networks. On October 22, 2002, we entered into an agreement to rescind the Asset Purchase Agreement between us and Independent Computer Maintenance Corporation. Under the
rescission agreement, Conolog and its subsidiary agreed to transfer all assets previously purchased pursuant to the Asset Purchase Agreement, to the extent they still exist, to the former seller. The return of the purchase price paid for the assets
was $600,000, $300,000 in cash at closing, a note, which is secured by a first mortgage on a condominium, for $150,000 bearing an interest rate of 7.5% of which will be paid over 24 months in equal monthly installments of $6,750 per
month beginning December 2002, and an unsecured note receivable for $137,350 payable over 10 years beginning December 2004 bearing an interest rate of 5%.
In March 2004, we ceased operating our staffing business. The assets of our wholly-owned subsidiary, Nologoc, Inc. trading as Atlas Design, were sold to the subsidiary's Vice President. In consideration of the sale, we
received $34,000 in cash.
--6--
PRODUCTS
We are engaged in the design and manufacture of (i) transducers, which are electro-magnetic devices which convert electrical energy into mechanical and other forms of physical energy, or conversely convert mechanical and
other forms of physical energy into electrical energy; (ii) digital signal processing (DSP) systems and electromagnetic wave filters for differentiation among discreet audio and radio frequencies; (iii) audio transmitters and modulators, for the
transmission over telephone lines, microwave circuits, or satellite, of electrical signals obtained from transducers, data generated in electronic code form or by computers or other similar equipment (not manufactured by us); (iv) audio receivers
and demodulators which are small systems which receive and decode the signals from the audio transmitters and convert them into digital codes for input into computers, teletypes or other similar equipment (not manufactured by us) or convert such
signals into mechanical or other form of energy, such as opening or closing valves, or starting or stopping a motor; (v) magnetic "networks" which are devices that permit the matching or coupling of different types of communication equipment
together or many identical or similar equipment together or onto telephone or other transmission lines so as not to cause interference; and (vi) analog transmitters and receivers, which permit the coding/transmission and receiving/decoding of a
constantly variable data, such as the water level in a tank, pressure in a pipe or temperature, by actually displaying the exact information at the receiving end in digital form for storing in a computer or other devices, or by physically displaying
the information in a visual fashion such as a numerical readout or meter, and (vii) multiplexer supervisory controls, which enable callers with high volumes of supervisory data to transmit on fewer phone lines.
Such products are used in radio and other transmissions, telephones and telephone exchanges, air and traffic control, automatic transmission of data for utilities, tele-printing of transmitted data such as news and stock
market information and for use by electric utilities in monitoring power transmission lines for faults and/or failures. Our products may be used independently or in combination with other products to form a system type configuration, whereby our
equipment is pre-assembled in a large cabinet with other equipment in a configuration that would provide the end user with protection as well as operational status displays.
PRESENT STATUS/BUSINESS PRODUCT DESCRIPTION
We are engaged in three basic market segments:
(A) Commercial Sales (Under the trade name "INIVEN" (a Division of Conolog))
o Direct sales to end-users
o Sales to system assemblers
o Sales to contractors/installers
(B) Military Sales
o Direct contract sales to the military
o As subcontractor to systems producers
o Foreign governments
(C) Commercial Sales - As Manufacturing Subcontractor to Systems Producers.
MILITARY SALES
Military sales are primarily for our electromagnetic wave filters used in military radios, vehicles (cars, trucks or tanks), portable (backpack), special signaling equipment and exchanges (as in field command posts), ship
to ship teletype signaling filters used in deployment of ships (UCC-1 and UCC-4 systems) as well as many other signaling applications where
--7--
accurate electromagnetic frequency control is required.
Our military sales are received through independent sales representatives who are paid a commission
Commercial "INIVEN" Sales and Products
"INIVEN" equipment is designed around four (4) core product groups:
(1) PTR and PDR Teleprotection Series (Protective Tone Relaying Communications Terminal), which includes the PTR-1000, PTR-1500 and PDR-2000.
(2) Audio Tone & Telemetry Equipment (Audio Tone Control, Telemetering and Data Transmission Systems), which includes Series "98," "68," "40" and "GEN-1."
(3) Multiplex Supervisory Control System
(4) Communication Link Multihead Fiber Optic Couplers and Industrial Grade 1200 Baud Modems.
PTR TELEPROTECTION SERIES
This product is designed for use exclusively by electric power generators (electric utilities and co-generators) in order to protect their transmission and distribution lines. The PTR-1000, by monitoring the output signal
of the transmission equipment in less than one hundredth of a second protects the transmission and distribution lines.
The PTR-1000 are installed in pairs, one unit at each end of the line. Each unit is connected and in constant communication with the other, as they continuously monitor the line for faults. In the event of a fault occurring
(such as a downed line or a short circuit) at either end and when confirmed by the receiving PTR-1000 unit, the line is immediately isolated for shut down, averting costly damage and downtime.
The PTR-1000 system is composed of a transmitter, dual receivers, a logic card (brain center and controller of the system), relay module, line interface module and power supply module. The transmitters at each end are
independent and transmit (continuously) the status (information being monitored) at their end of the line.
The PTR-1500, is a quad system and performs as 2 duals or 4 singles with many unique features such as multiple line operation, event recording with date stamp with optional analog or digital transmission modes including
optic fiber interface.
The PDR 2000 is an 8 channel high speed communication system for use in electric power transmission protection schemes. Unique features include event recording, on-board and remote programming, and ID (unit to unit
identification on all communications), Packet Forwarding (ability to forward information such as trips and all events through indirect communication paths), password protection and multiple communication ports.
The PTR/PDR Teleprotection Series are designed for global use by electric utilities and any entity generating power for its own consumption with resale of surplus power to an electric utility, such as cities,
municipalities, cooperatives and large corporations that find it more economical to generate their own electricity.
The PTR/PDR market is:
New installations; i.e., new transmission lines, new distribution segments, for utilities and cogenerators.
Existing installations not properly protected, improving efficiency and reducing down time.
Existing installations for upgrading to PTR/PDR technology, again improving efficiency and down time.
Sales efforts for the PTR/PDR are presently being conducted by the Company's marketing executives, through independent manufacturers' representatives and through distributors. Sales are targeted primarily to the
largest
--8--
utilities and co-generators.
In the United States alone, there are over 500 large entities generating electricity. They are:
o Municipal Systems
o Cooperative Systems
o Federal, State and District Systems
o Audio Tone and Telemetry Equipment
For many years there has been a need for a modularly independent system that would permit a user, from a distance, to control functions such as opening a valve, starting a motor, shutting down a compressor, changing a
traffic signal, control landing lights at an airport, activate a hazard warning on a highway, and in return allow the user to receive information, such as the liquid level in a tank, the pressure in a pipe, the rate of flow out of a compressor, the
flow of traffic, the status of a traffic light, airport lights, or confirmation that a command was performed. Such information is transmitted and received and the control functions are performed from a distance utilizing telephone lines, microwave
link or direct wire.
These applications, by their nature, can be accomplished with slow speed signaling systems composed of a transmitter on one end and a receiver on the other to carry out the necessary instructions provided by the
transmitter. Each set (transmitter/receiver combination) is called a channel. Because of the slow speed, up to 30 channels could be made to transmit and receive signals, in either direction on a single telephone line, microwave link or direct-wired
line at the same time. This parallel transmission permits each transmitter/receiver pair to be independent of all the others.
This product segment includes the first generation equipment, known as GEN-1, followed by later generations which include technological improvements and programmable capabilities to include:
GEN-1 Series - First generation with electromagnetic modules and first generation programmable modules without electro-magnetic modules.
"98" and "68" Series - The latest generation applies DSP and microprocessor technology with full programmability, in the field or at the factory.
"40" Series - Designed to function with the "98" or "68" series; transmits and receives variable analog data.
GEN-1 AND GEN-1 PROGRAMMABLE SERIES
The diversity of applications for this equipment makes it available for a wide range of users who are not restricted to a single industry. Typical industrial uses include: the measurement of water and gas, waste water,
gasoline, oil, traffic, and electricity. Typical users include: utilities, co-generators, airports, navy yards, telephone companies, paper and pulp processors and wherever remote control and data acquisition is required.
Since our line has a distinct mechanical configuration, we designed our GEN-1 Programmable units and other improvements as replacements for existing units.
Our line of GEN-1 equipment is extensive and provides the user with the ability to perform multiple control functions, status monitoring as well as continuous variable data monitoring, such as a level in a tank or pressure
gauge.
Sales for this line are primarily for the replacement of existing installations and for expansion of these installations where it would not be economical to install the latest technology, which would not be mechanically
compatible.
Sales to this market are made in the same manner as the PTR/PDR market except that manufacturers' representatives
--9--
specialize in selling to this diverse market.
"98," "68" and "40" Series represent our latest designs in the audio tone equipment utilizing the more advanced DSP technology, which provides high accuracy and long-term stability. These features have allowed us to greatly
improve the scope, density and number of functions that can be performed on a single phone line, microwave link or direct line.
Sales of these products are made by the same agents who sell our GEN-1 products, but are also directed to encompass more sophisticated users with larger amounts of data and control points. The mechanical configuration of
the "98" series is more compact, permitting more equipment in a given space, while performing many more functions when it is connected to the "40" Series. The "68" Series is the "98" Series repackaged mechanically specifically for customers with
older systems permitting them to upgrade their systems to DSP technology. The "40" Series, when connected to the "98" or "68" in the same chassis, permits the continuous monitoring of variable data.
Typical applications for these products include transmission of the variable data (such as volume, temperature, pressure and moisture) for water, gas, industrial gases, oil, gasoline, transportation equipment and telephone
exchanges, and for use at airports, tunnels and bridges and for security and electricity systems.
MULTIPLEX SUPERVISORY (IM) CONTROL SYSTEM
This product is a response to the cost and scarcity of dedicated phone lines (connections whereby the phone link is dedicated to one subscriber), and enables customers with high volumes of supervisory data (where many
functions are monitored from a single site) to transmit data on fewer phone lines (i.e., with more data per channel, up to a maximum of 30 channels per line).
Using the "98" DSP Series as its communications link, we designed the Multiplexer Supervisory Control System to handle 8 times the normal capacity per channel. The microprocessor-based system allows a single telephone line
to handle up to 900 data inputs. This product line because of its data density capability, may be utilized for a very broad range of applications. This product has only recently been introduced and our sales efforts for it are being conducted
through our existing independent manufacturers sales representatives.
FIBER OPTIC LINK AND DATA MODEM
The expansion of fiber lines by our customers and their need to switch equipment from phone lines to fiber prompted us to design and introduce a fiber-optic-coupler line to interface with the many different fiber heads. In
addition to complete data interface couplers we launched a series of 1200 Baud Modems (Industrial Grade) for operation under the same environmental specifications in line with our products.
OUR STRATEGY
Our strategy is to develop new commercial markets by continuing to develop new products and enhance existing products to improve both our market share and competitive position. Growth in commercial sales is expected to come
through internal growth of existing products, new product introductions and the expansion of regional markets to meet the growing needs of our customers for more sophisticated and comprehensive products and services.
MARKETING AND SALES
In general, our products are marketed through telemarketing and customer contacts by our President and through independent manufacturing sales representatives and distributors.
COMPETITION
The market for our products and staffing services is very competitive. There are several companies engaged in providing the services and in the manufacturing the products of the type produced by us, most of which are
substantially larger and have substantially greater name recognition or greater financial resources and personnel. The major competitive factors include availability of personnel, product quality, reliability, price, service and delivery.
--10--
Competition is expected to continue and intensify. The market is also characterized by rapid technological changes and advances. We would be adversely affected if our competitors introduced technology superior products or
offered these products and services at significantly lower prices than our products.
LARGEST CUSTOMERS
Our major customers during fiscal 2007 were Bonneville Power Authority and NSTAR. Sales to these customers totaled $229,512. None of these customers has or had any material relationship other than business with the
Company.
INVENTORY
RAW MATERIALS
We believe that we have adequate sources of raw materials available for use in our business. Our products are assembled from a variety of standard electronic components, such as integrated circuits, transformers,
transistors, passive components (i.e., resistors, capacitors and inductors), diodes and assorted hardware, such as, printed circuit boards, connectors and faceplates. We are not dependent upon any single supplier. We also purchase a number of other
electronic components and sub-assemblies from various suppliers.
In the past, we manufactured and held in our inventory finished products pursuant to the military specifications and based upon the military forecast for future quantities and delivery schedules. Widespread military
procurements were discontinued as a result of the end of the cold war and the downsizing of the military establishment. Consequently, management made a decision to write off a substantial amount of the military inventory in 2001 and 2002. As a
result, we no longer manufacture military products in advance. Rather, we only schedule production as purchase orders are received.
MANUFACTURING
The Company currently rents approximately 7,000 square feet of the facility located at 5 Columbia Road, for a combination of manufacturing and office space. The Company assembles, under normal workload conditions, the
product it sells; however, to accommodate the peak demands that occur from time to time, we can engage a number of subcontractors to assemble boards to our specifications. All assemblies, however, are inspected and fully tested by our quality,
engineering and testing departments. We maintain test equipment and every product is burned-in (i.e., each product is run at full power for 48 hours) and tested prior to shipment.
WARRANTY AND SERVICE
We provide a twelve-year warranty on our products, which covers parts and labor. The Company, at its option, repairs or replaces products that are found defective during the warranty period providing proper preventive
maintenance procedures have been followed by customers. Repairs that are necessitated by misuse of such products are not covered by our warranty.
In cases of defective products, the customer typically returns them to our facility in Somerville, New Jersey. Our service personnel then replace or repair the defective items and ship them back to the customer. Generally
all servicing is completed at our plant and customers are charged a fee for those service items that are not covered by the warranty. We do not offer our customers any formal written service contracts.
RESEARCH AND DEVELOPMENT
NEW PRODUCTS - CM-100 PLATFORM
In February 2007, we formally introduced the CM-100, which we believe is the first of its kind, direct substation hardened communication consolidator that fills the existing gap in substation communications. The hardwired
CM-100 will allow our existing products, including the PDR-100, to operate seamlessly over fiber optics together with existing substation equipment.
--11--
THIS OFFERING
Shares of common stock outstanding prior to this offering
2,787,469
(1)
Shares being offered by the selling stockholders
800,000
Shares of common stock to be outstanding after the offering
2,787,469
(1)
Use of proceeds
We will not receive any proceeds from
the sale of the shares of common stock
offered in this prospectus.
Risk Factors
The purchase of our common stock
involves a high degree of risk. You
should carefully review and consider
"Risk Factors" beginning on page __.
NASDAQ Board Stock Exchange Symbol
CNLGD(2)
(1) As of July 2, 2008.
(2) Due to a four-for-one reverse stock split effected June 11, 2008, the Company's stock symbol changed
from "CNLG" to "CNLGD." The Company's stock symbol will revert back to "CNLG" on July 10, 2008.
RISK FACTORS
An investment in our common stock involves a very significant risk. You should carefully consider the following risks and uncertainties in addition to other information in this prospectus in evaluating our company and its
business before purchasing shares of our company's common stock. Our business, operating results and financial condition could be seriously harmed due to any of the following risks. You could lose all or part of your investment due to any of these
risks.
Sales of a substantial number of shares of our common stock in the public market could cause a reduction in the market price of our common stock.
Any significant downward pressure on the price of our common stock as our shareholders sell shares of our common stock could encourage short sales. Any such short sales could place further downward pressure on the price of
our common stock.
We have a history of operating losses and thus we may not be profitable in the future.
Our continued existence is dependent upon us successfully expanding our business and attaining profitable operations. We have historically had net losses from operations and there can be no assurance that we will be
profitable in the future. If we are not profitable and cannot attain sufficient capital to fund our operations we may have to cease our operations.
We have many competitors and we may not be able to compete effectively against them.
The market for our manufactured products is very competitive. There are several companies that manufacture products similar to the products we sell. Most of these companies are substantially larger than us and have
substantially greater name recognition, financial resources and personnel than we do.
Our success depends on keeping up with technological changes.
The market for our manufactured products is characterized by rapid technological changes and advances. Our failure to continue to introduce new products in a timely or cost effective manner or our failure to continue to
improve our existing products in a timely or cost effective manner would materially adversely affect our operating results, and as a result, we may not be able to compete effectively against them.
We are dependent on a few large customers.
--12--
Our dependence on major customers including Bonneville Power Authority and NSTAR, which accounted for an aggregate $229,512 of our sales during the fiscal year ended July 31, 2007, subjects us to significant financial
risks in the operation of our business if a major customer were to terminate or materially reduce, for any reason, its business relationship with us.
We may not be able to attract the qualified personnel we need to succeed.
Because of the technical nature of our business, we are dependent upon our ability to attract and retain technologically qualified personnel. Competition for individuals with proven professional or technical skills is
intense, and the demand for these individuals is expected to remain very strong for the foreseeable future. Larger companies may be able to pay substantially higher salaries than we are able to pay. Therefore, we may not be successful, especially
during increased economic activity, in attracting qualified personnel.
Our minimal staff may have difficulty managing our operations.
We only employ about 15 people on a full time basis. Approximately 8 of our full time employees are involved in production. Our success is dependent upon the services of our current management, particularly Robert S. Benou,
our Chairman, Chief Executive Officer and Chief Financial Officer and Marc Benou our President, Chief Operating Officer and Secretary. Messrs. Robert Benou and Marc Benou are currently serving under employment contracts that renew on a year-to-year
basis unless terminated by either party thereto upon at least 90 days notice prior to the expiration of the then current term of such agreement. If the employment of Messrs. Robert Benou or Marc Benou terminates, or if either is unable to perform
his duties, we may be materially and adversely affected.
We are dependent on component manufacturers to provide us with the parts we need.
We are dependent on outside suppliers for all of the subcomponent parts and raw materials we need to assemble our products. A shortage, delay in delivery, or lack of availability of a part could lead to assembling delays,
which could reduce sales. We also purchase some custom parts, primarily printed circuit boards. The failure of a supplier of one of these customized components could cause a lengthy delay in production, resulting in a loss of revenues.
We have limited cash and may not be able to receive additional financing.
As of April 30, 2008, we had $2,109,455 in cash (including $1,821,052 in a certificate of deposit). We believe that this, together with anticipated cash flows from operations will be sufficient to satisfy our
working capital requirements for the foreseeable future. However, we may need to seek additional financing sooner than we anticipate as a result of factors including but not limited to the following:
o changes in operating plans
o lower than anticipated sales
o increased operating costs; and
o potential acquisitions
However, additional financing may not be available on commercially reasonable terms, if at all.
Our stock price may fluctuate, which may make it difficult to resell your shares at attractive prices.
The market price of our common stock may experience fluctuations. The market price of our common stock has been volatile, and may continue to be volatile. Factors that could cause volatility in our stock price
include:
o fluctuations in our quarterly operating results;
o stock market prices and volume fluctuations generally;
--13--
o economic conditions specific to any of the industries that we conduct business in;
o announcements by us or our competitors relating to new services or technologies, significant acquisitions, significant orders, strategic relationships, joint ventures or capital commitments; and
o applicable regulatory developments.
If we are delisted from the Nasdaq Capital Market, you may also find it more difficult to trade our common stock due to "penny stock" rules.
If we are unable to satisfy the requirements for continued quotation on Nasdaq, trading, if any, in our common stock would be conducted in the over-the-counter market in what is commonly referred to as the "pink sheets" or
on the OTC Bulletin Board. If our shares become subject to the regulations on penny stocks, the price and ability to sell our shares would be severely affected because the shares could only be sold in compliance with the penny stock
rules.
The issuance of shares upon conversion of our convertible securities and exercise of outstanding warrants may cause immediate and substantial dilution to our existing stockholders.
As of July 2, 2008, we had outstanding warrants to purchase 2,684,091 shares of our common stock, of which warrants to purchase 408,091 shares of our common stock have an exercise price of $25.16 per share, warrants to
purchase 1,695,000 shares of our common stock have an exercise price of $4.20 per share and warrants to purchase 581,000 shares of our common stock have an exercise price of $4.20 per share. As of July 2, 2008, we also had outstanding
convertible notes having an aggregate principal balance of $951,758 which are convertible into 793,132 shares of our common stock at a conversion price of $1.20 per share. Subject to the terms of the Convertible Notes we may also issue
shares of our common stock to pay interest due on the Convertible Notes. The issuance of shares of our common stock upon the exercise of warrants or upon conversion of the notes may result in substantial dilution to the interests of other
stockholders.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
We and our representatives may from time to time make written or oral statements that are "forward-looking," including statements contained in this prospectus and other filings with the Securities and Exchange Commission,
reports to our stockholders and news releases. All statements that express expectations, estimates, forecasts or projections are forward-looking statements. In addition, other written or oral statements which constitute forward-looking statements
may be made by us or on our behalf. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "projects," "forecasts," "may," "should," variations of such words and similar expressions are intended to identify
forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties, and assumptions which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is
expressed or forecasted in or suggested by such forward-looking statements. Among the important factors on which such statements are based are assumptions concerning our ability to obtain additional funding, our ability to compete against our
competitors, our ability to integrate our acquisitions and our ability to attract and retain key employees.
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.
--14--
USE OF PROCEEDS
We will not receive any proceeds from the sale of common shares by the Selling Stockholders pursuant to this prospectus. The Selling Stockholders will receive all proceeds from the sales of these common shares, and they
will pay any and all expenses incurred by them for brokerage, accounting or tax services (or any other expenses incurred by them in disposing of their common shares).
The shares of common stock offered hereby are being registered for the account of the Selling Stockholders named in this prospectus. As a result, all proceeds from the sales of the common stock will go to the Selling
Stockholders and we will not receive any proceeds from the resale of the common stock by the Selling Stockholders. We will incur all costs associated with this registration statement and prospectus, which are currently estimated to be approximately
$5,000.
SELLING STOCKHOLDERS
A total of 800,000 shares were issuable to officers, directors, employees and consultants of the Company pursuant to our 2008 Stock Incentive Plan. These 800,000 shares have been issued to the Selling Stockholders. The
following table sets forth, as of July 2, 2008, information regarding the beneficial ownership of our common stock by the Selling Stockholders. In the table below, the percentage ownership after the offering is based upon the assumed sale by the
Selling Stockholders of all shares they may offer for sale pursuant to this prospectus. Beneficial ownership is determined according to the rules of the Securities and Exchange Commission, and generally means that a person has beneficial ownership
of a security if he, she or it possesses sole or shared voting or investment power of that security. The percentages for each Selling Stockholder are calculated based on 2,787,469 shares issued and outstanding as of July 2, 2008, not including 9
shares held in treasury, plus any additional shares that the Selling Stockholder is deemed to beneficially own as set forth in the table. The shares offered by this prospectus shall be deemed to include shares offered by any pledgee, donee,
transferee or other successor in interest of any of the Selling Stockholders below, provided that this prospectus is amended or supplemented if required by applicable law. Except as noted, none of the Selling Stockholders have had any material
relationship with us or any of our predecessors or affiliates within the past three years.
The information in this table is based upon information provided by each respective Selling Stockholder.
Name
Shares Beneficially Owned
Number Of
Shares Beneficially Owned Upon
Prior to this Offering
Shares Being
Completion of the Offering (1)
Offered
Number
Percent
Number
Percent
Robert Benou (2)
316,751
11.36
%
237,500
79,251
2.84
%
Marc Benou (3)
318,700
11.43
%
237,000
81,700
2.93%
David Peison (4)
45,834
1.64
%
35,000
10,834
*
Louis Massad (5)
43,750
1.56
%
35,000
8,750
*
Edward J. Rielly(6)
35,000
1.26
%
35,000
0
*
Tom Fogg (7)
29,250
1.05
%
25,000
4,250
*
Thomas DiVito(8)
30,000
1.08
%
30,000
0
*
Albert Lenhardt(9)
30,000
1.08
%
30,000
0
*
Frank Bruekl (10)
30,000
1.08
%
30,000
0
*
Theodora DePrisco (11)
20,000
*
20,000
0
*
Andrew Herrick (12)
15,000
*
15,000
0
*
--15--
Martha Nunez (13)
15,000
*
15,000
0
*
Marina Krigeris (14)
5,000
*
5,000
0
*
Vincent Locollo (15)
5,000
*
5,000
0
*
Andrzej
	    Zielinski (16)
5,000
*
10,000
0
*
Alexander Kaminsky (17)
5,000
*
5,000
0
*
John Engelhardt (18)
5,000
*
5,000
0
*
Malcolm Swanson (19)
10,500
*
10,500
0
*
David Roth (20)
15,000
*
15,000
0
*
TOTAL
800,000
* Less than one percent.
(1) Assumes that all shares offered are sold.
(2) Robert Benou has been chief executive officer and chairman of Conolog since May 2001. Robert Benou also serves as Conolog's chief financial officer.
(3) Marc Benou has been president and chief operating officer of Conolog since May 2001. Marc Benou also serves as a director of Conolog and as Conolog's secretary.
(4) David Peison has been a director of Conolog since October 2004.
(5) Louis Massad has been a director of Conolog since April 1995.
(6) Edward J. Rielly has been a director of Conolog since January 1998.
(7) Tom Fogg has been Conolog's vice president, engineering, since 1986.
(8) Thomas DiVito has been an employee
    of Conolog since January 2005.
(9) Albert Lenhardt has been an
    employee of Conolog since 1988.
(10) Frank Bruekl has been an employee of Conolog since 1984.
(11) Theodore DePrisco has been
    an employee of Conolog since 2004.
(12) Andrew Herrick has been an
    employee of Conolog since January 2007.
(13) Martha Nunez has been an employee
  of Conolog since 1992.
(14) Marina Krigeris has been an employee of Conolog since 1990.
--16--
(15) Vincent Locollo has been an employee of Conolog since 2002.
(16) Adrzej Zielinski has been an employee of Conolog since 2004.
(17) Alexander Kaminsky has been an employee of Conolog since May 2006.
(18) John Engelhardt has been an employee of Conolog since 1996.
(19) Malcolm Swanson has provided sales and marketing consulting services to Conolog since 2003.
(20) David Roth has provided business consulting services to Conolog since 2004.
--17--
PLAN OF DISTRIBUTION
Timing of Sales
Under our 2008 Stock Incentive Plan, we were authorized to issue up to 800,000 shares of our common stock. These 800,000 shares have been issued to the Selling Stockholders.
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 Stockholders 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
solicitx 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 Stockholders 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 Stockholders may
arrange for other brokers or dealers to participate. Brokers or dealers may receive commissions, discounts or concessions from the Selling Stockholders, 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.
Broker-dealers may agree with a Selling Stockholder 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
Stockholder, to purchase as principal any unsold common shares at the price required to fulfill the broker-dealer commitment to the Selling Stockholder.
--18--
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 Stockholders 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 Stockholders and any broker-dealers or agents that participate with the Selling Stockholders 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.
Regulation M
The Selling Stockholders must comply with the requirements of the Securities Act and the Exchange Act in the offer and sale of the common stock. In particular we will advise the Selling Stockholders that the
anti-manipulation rules of Regulation M under the Exchange Act may apply to sales of common shares in the market and to the activities of the Selling Stockholders and their affiliates. Regulation M under the Exchange Act prohibits, with certain
exceptions, participants in a distribution from bidding for, or purchasing for an account in which the participant has a beneficial interest, any of the securities that are the subject of the distribution.
Accordingly, during such times as a Selling Stockholder may be deemed to be engaged in a distribution of the common stock, and therefore be considered to be an underwriter, the Selling Stockholder 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 Stockholders for the purpose of satisfying the prospectus delivery requirements of the Securities Act.
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 $5,000, including, but not limited to, legal, accounting, printing and mailing fees. The Selling
Stockholders, however, will pay any commissions or other fees payable to brokers or dealers in connection with any sale of the common stock.
--19--
LEGAL MATTERS
The validity of the common stock has been passed upon by Sichenzia Ross Friedman Ference LLP, New York, New York.
EXPERTS
The financial statements incorporated by reference in the prospectus have been audited by Bagell, Josephs, Levine & Company, LLC, an independent registered public accounting firm, to the extent and for the periods set
forth in their report included in our 10-KSB for the year ended July 31, 2007 and are incorporated in reliance upon such report given upon the authority of said firm as experts in auditing and accounting.
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.
INFORMATION INCORPORATED BY REFERENCE
The Securities and Exchange Commission 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 Registrant's current report on Form 8-K filed with the SEC on July 7, 2008, which is hereby
incorporated by reference.
Reference is made to Registrant's current report on Form 8-K filed with the SEC on June 19, 2008, which is hereby
incorporated by reference.
Reference is made to the Registrant's quarterly report on Form 10-QSB for the period ending April 30, 2008, as filed
with the SEC on June 16, 2008.
Reference is made to the Schedule 14-A filed by the Registrant with the SEC on April 21, 2008, which is hereby
incorporated by reference.
Reference is made to Registrant's Current Report on Form 8-K filed with the SEC on March 26, 2008, which is hereby
incorporated by reference.
Reference is made to the Registrant's quarterly report on Form 10-QSB for the period ending January 31, 2008, as filed
with the SEC on March 14, 2008.
Reference is made to the Schedule 14-A filed by the Registrant with the SEC on February 15, 2008, which is hereby
incorporated by reference.
Reference is made to the Registrant's quarterly report on Form 10-QSB for the period ending October 31, 2007, as
filed with the SEC on December 17, 2007, which is hereby
incorporated by reference.
Reference is made to Registrant's current report on Form 8-K filed with the SEC on November 6, 2007, which is
hereby incorporated by reference.
Reference is made to the Registrant's annual report on Form 10-KSB for the period ending July 31, 2007, as filed with
the SEC on October 29, 2007, which is hereby
incorporated by reference.
--20--
The description of the Company's Common Stock contained in its Registration Statement on Form SB-2/A filed on
December 19, 2007 including all amendments or reports filed for
the purpose of updating such description.
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 Robert Benou.
DISCLOSURE OF COMMISSION POSITION ON
INDEMNIFICATION FOR SECURITIES ACT LIABILITIES
The Company's Certificate of Incorporation limits the liability of Directors to the maximum extent permitted by Section 102(b)(7) of the Delaware General Corporation Law. Delaware law provides that the directors of a
corporation will not be personally liable to such corporation or its stockholders for monetary damages for breach of their fiduciary duties as directors, except for liability (i) for any breach of their duty of loyalty to the corporation or its
stockholders; (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law; (iii) for unlawful payments of dividends or unlawful stock repurchases or redemptions as provided in Section 174 of the
Delaware General Corporation Law; or (iv) for any transaction from which the director derives an improper personal benefit. The Company's By-Laws provide that the Company shall indemnify its directors and officers under certain circumstances,
including those circumstances in which indemnification would otherwise be discretionary.
Insofar as indemnification for liabilities arising under the Securities Act of 1933 (the "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 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 us of expenses incurred or paid by our directors, officers or controlling persons in the successful defense of any action, suit or proceedings, is asserted by such director,
officer, or controlling person in connection with any securities being registered, we will, unless in the opinion of our counsel the matter has been settled by controlling precedent, submit to court of appropriate jurisdiction the question whether
such indemnification by us is against public policy as expressed in the Act and will be governed by the final adjudication of such issues.
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.
--21--
INFORMATION NOT REQUIRED IN PROSPECTUS
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:
The following documents filed with the SEC are incorporated herein by reference:
Reference is made to Registrant's current report on Form 8-K filed with the SEC on June 19, 2008, which is hereby
incorporated by reference.
Reference is made to the Registrant's quarterly report on Form 10-QSB for the period ending April 30, 2008, as filed
with the SEC on June 16, 2008.
Reference is made to the Schedule 14-A filed by the Registrant with the SEC on April 21, 2008, which is hereby
incorporated by reference.
Reference is made to Registrant's Current Report on Form 8-K filed with the SEC on March 26, 2008, which is hereby
incorporated by reference.
Reference is made to the Registrant's quarterly report on Form 10-QSB for the period ending January 31, 2008, as filed
with the SEC on March 14, 2008.
Reference is made to the Schedule 14-A filed by the Registrant with the SEC on February 15, 2008, which is hereby
incorporated by reference.
Reference is made to the Registrant's quarterly report on Form 10-QSB for the period ending October 31, 2007, as
filed with the SEC on December 17, 2007, which is hereby
incorporated by reference.
Reference is made to Registrant's current report on Form 8-K filed with the SEC on November 6, 2007, which is
hereby incorporated by reference.
Reference is made to the Registrant's annual report on Form 10-KSB for the period ending July 31, 2007, as filed with
the SEC on October 29, 2007, which is hereby
incorporated by reference.
The description of the Company's Common Stock contained in its Registration Statement on Form SB-2/A filed on
December 19, 2007 including all amendments or reports filed for
the purpose of updating such description.
Item 4.
Description of Securities.
Not applicable.
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.
--22--
Item 6. Indemnification of Directors and Officers.
The Company's Certificate of Incorporation limits the liability of Directors to the maximum extent permitted by Section 102(b)(7) of the Delaware General Corporation Law. Delaware law provides that the directors of a
corporation will not be personally liable to such corporation or its stockholders for monetary damages for breach of their fiduciary duties as directors, except for liability (i) for any breach of their duty of loyalty to the corporation or its
stockholders; (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law; (iii) for unlawful payments of dividends or unlawful stock repurchases or redemptions as provided in Section 174 of the
Delaware General Corporation Law; or (iv) for any transaction from which the director derives an improper personal benefit. The Company's By-Laws provide that the Company shall indemnify its directors and officers under certain circumstances,
including those circumstances in which indemnification would otherwise be discretionary.
Insofar as indemnification for liabilities arising under the Securities Act of 1933 (the "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 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 us of expenses incurred or paid by our directors, officers or controlling persons in the successful defense of any action, suit or proceedings, is asserted by such director,
officer, or controlling person in connection with any securities being registered, we will, unless in the opinion of our counsel the matter has been settled by controlling precedent, submit to court of appropriate jurisdiction the question whether
such indemnification by us is against public policy as expressed in the Act and will be governed by the final adjudication of such issues.
Item 7.
Exemption from Registration Claimed
Not applicable.
Item 8.
Exhibits.
EXHIBIT
NUMBER
EXHIBIT
4.1
2008 Stock Incentive Plan
5.1
Opinion of Sichenzia Ross Friedman Ference LLP
23.1
Consent of Sichenzia Ross Friedman Ference LLP (included
in Exhibit 5.1)
23.2
Consent of Bagell, Josephs, Levine & Company, LLC.
Item 9.
Undertakings.
(a) The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:
(i) To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;
--23--
(ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or
in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered
would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement;
(iii) 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;
PROVIDED, HOWEVER, that paragraphs (1)(i), and (1)(ii) do not apply if the Registration Statement is on Form S-8 and if the information required to be included in a post-effective amendment by
those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration
statement.
(2) That, for the purpose of determining any liability under the Securities Act of 1933, 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.
(3) 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.
(4) That, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant to Section 13(a) or 15(d) of the Securities Exchange
Act of 1934 (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.
(5) That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser:
(A) Each prospectus filed by a Registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration
statement; and
(B) Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5) or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii) or (x) for
the purpose of providing the information required by Section 10(a) of the Securities Act of 1933 shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after
effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be
deemed to be a new effective date of the registration statement relating to the securities in the registration statement to which the prospectus relates, and the offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
provided, however
, that no statement made in a registration statement or
prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time
of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such
effective date.
(6) That, for the purpose of determining liability of a Registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities, each undersigned Registrant
undertakes that in a primary offering of securities of an undersigned Registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to
such purchaser by means of any of the following communications, the
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undersigned Registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:
(i) Any preliminary prospectus or prospectus of an undersigned Registrant relating to the offering required to be filed pursuant to Rule 424;
(ii) Any free writing prospectus relating to the offering prepared by or on behalf of an undersigned Registrant or used or referred to by an undersigned Registrant;
(iii) The portion of any other free writing prospectus relating to the offering containing material information about an undersigned Registrant or its securities provided by or on behalf of an
undersigned Registrant; and
(iv) Any other communication that is an offer in the offering made by an undersigned Registrant to the purchaser.
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 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 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.
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SIGNATURES
In accordance with 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 Form S-8 to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Somerville, State of New Jersey, on July 8, 2008.
Conolog Corporation
By:
/s/ Robert S. Benou
Robert S. Benou
Chief Executive Officer and Chief Financial Officer
(Principal Executive Officer, Principal Financial Officer, and
Principal Accounting Officer)
POWER OF ATTORNEY
Each person whose signature appears below hereby constitutes and appoints Robert S. Benou and Marc R. Benou and each of them, his or her true and lawful attorneys-in-fact and agents with full
power of substitution and resubstitution, for him and in his name, place, and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) and additions to this Registration Statement, and to file the same,
with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, and hereby grants to such attorneys-in-fact and agents full power and authority to do and perform each and every act and thing
requisite and necessary to be done, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or his substitute or substitutes may lawfully do or cause
to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed below by the following persons in the capacities and on the dates
indicated.
Date: July 8, 2008
/s/
Robert S. Benou
Robert S. Benou
Chairman, Chief Executive Officer, Chief Financial Officer
and Director (Principal Executive Officer, Principal Financial
Officer and Principal Accounting Officer)
Date: July 8, 2008
/s/
Marc R. Benou
Marc R. Benou
President, Chief Operating Officer,
Secretary and Director
Date: July 8, 2008
/s/
Louis S. Massad
Louis S. Massad
Director
Date: July 8, 2008
Edward J. Rielly
Director
Date: July 8, 2008
David M. Peison
Director
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