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<SEC-DOCUMENT>0000950137-08-009421.txt : 20080717
<SEC-HEADER>0000950137-08-009421.hdr.sgml : 20080717
<ACCEPTANCE-DATETIME>20080717161248
ACCESSION NUMBER:		0000950137-08-009421
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		7
CONFORMED PERIOD OF REPORT:	20080714
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080717
DATE AS OF CHANGE:		20080717

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Ecology Coatings, Inc.
		CENTRAL INDEX KEY:			0001173313
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-INDUSTRIAL MACHINERY & EQUIPMENT [5084]
		IRS NUMBER:				260014658
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-91436
		FILM NUMBER:		08957257

	BUSINESS ADDRESS:	
		STREET 1:		2081 SOUTH LAKE LINE DRIVE
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84109
		BUSINESS PHONE:		8014674566

	MAIL ADDRESS:	
		STREET 1:		2081 SOUTH LAKE LINE DRIVE
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84109

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OCIS CORP
		DATE OF NAME CHANGE:	20020513
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>k32689e8vk.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
<HTML>
<HEAD>
<TITLE>e8vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>


<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Date of Report (Date of Earliest Event Reported)<BR>
July 14, 2008</B></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B><FONT style="border-bottom: 1px solid #000000">ECOLOGY COATINGS, INC.</FONT></B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD align="center" valign="top">Nevada
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">333-91436
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26-0014658</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission File No.)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(IRS Employer</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Identification No.)</TD>
</TR>
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</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">&nbsp;<BR>
<B>35980 Woodward Avenue, Suite&nbsp;200<BR>
Bloomfield Hills, MI 48304</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 0pt">(Address of principal executive offices, including zip code)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Registrant&#146;s telephone number, including area code: (248)&nbsp;723-2223</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">(Former Name or Former Address, if Changed Since Last Report)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR.425)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))<U> </U></TD>
</TR>

</TABLE>
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">






<!--TOC-->
<!--/TOC-->




<!-- link1 "ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Unsecured Convertible Promissory Note # 1</B></U>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">One July&nbsp;14, 2008, the Company completed a bridge loan transaction deemed effective July&nbsp;11, 2008,
in the amount of $100,000 (the &#147;Bridge Loan&#148;). In connection with the Bridge Loan, the Company made
an unsecured, convertible promissory note in favor of the lender, Mitch Shaheen (the &#147;Holder&#148;)(the
&#147;Note&#148;), a description of which follows herein. As a material inducement to Shaheen to make the
Bridge Loan, the Company issued him a warrant to purchase 100,000 shares of the Company&#146;s common
stock at a price equal to $.50 per share (the &#147;Warrant&#148;). The Warrant is exercisable immediately
and carries a ten (10)&nbsp;year term.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Note is in the principal amount of $100,000, carries interest of 25% per annum and matures on
August&nbsp;10 2008 (the &#147;Maturity Date&#148;). At his option, the Holder may demand repayment on all or part
of the then-outstanding Note balance before the Maturity Date upon the Company&#146;s completion of any
private offering exempt from registration under Section&nbsp;4(2) of the Securities Act of 1933, as
amended (the &#147;Act&#148;) which results in proceeds, net of underwriting discounts and commissions, in
excess of One Million Dollars ($1,000,000) (collectively, a &#147;New Offering&#148;). Similarly, the amounts
due under the Note may also be accelerated upon an &#147;Event of Default,&#148; as defined in the Note. The
Note constitutes the &#147;Senior Subordinated Indebtedness&#148; of the Company and is unsecured.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Holder may convert all or part of the then-outstanding Note balance into shares of the
securities issued by the Company in its next New Offering (the &#147;Issued Shares&#148;). The conversion
price shall be equal to the price per share at which the Company sells the Issued Shares. In the
event the Company does not complete a New Offering before the Maturity date, the Holder may convert
all or part of the then-outstanding Note balance into shares of the Company&#146;s common stock at a
price equal to $.50 per share.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The foregoing description of the terms and conditions of the Note is qualified in its entirety by,
and made subject to, the more complete information set forth in the Note included in this Form 8-K
as Exhibit&nbsp;10.39, and incorporated herein by reference
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Unsecured Convertible Promissory Note # 2</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On July&nbsp;14, 2008, the Company issued a promissory note in favor of its Chairman of the Board of
Directors and Chief Executive Officer, Richard D. Stromback (&#147;Stromback&#148;), in exchange for
Stromback&#146;s deferral of $3,333.00 in salary payable to him on July&nbsp;15, 2008 under that employment
agreement dated December&nbsp;28, 2008 (the &#147;Stromback Note&#148;). The Stromback Note is in the principal
amount of $3,333.00 and carries interest of 25%. The Stromback Note matures on August&nbsp;10, 2008. As
a material inducement to Stromback to consummate the transaction, the Company issued him a warrant
to purchase 3,333 shares of the Company&#146;s common stock at a price equal to $.50 per share (the
&#147;Stromback Warrant&#148;). The Stromback Warrant is exercisable immediately and carries a ten (10)&nbsp;year
term.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">At his option, Stromback may demand repayment on all or part of the then-outstanding balance upon
the completion of a New Offering. Similarly, the amounts due under the Note may also be accelerated
upon an &#147;Event of Default,&#148; as defined in the Stromback Note. The Stromback Note constitutes the
&#147;Senior Subordinated Indebtedness&#148; of the Company and is unsecured.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Stromback may convert all or part of the then-outstanding Note balance into shares of the
securities issued by the Company in its next New Offering (the &#147;Issued Shares&#148;). The conversion
price shall be equal to the price per share at which the Company sells the Issued Shares. In the
event the Company does not complete a New Offering before the Maturity date, Stromback may convert
all or part of the then-outstanding Note balance into shares of the Company&#146;s common stock at a
price equal to $.50 per share.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The foregoing description of the terms and conditions of the Note is qualified in its entirety by,
and made subject to, the more complete information set forth in the Note included in this Form 8-K
as Exhibit&nbsp;10.40, and incorporated herein by reference
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Elections to Extend Promissory Notes</B></U>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As previously reported, on March&nbsp;17, 2008, the Company completed two bridge loan transactions in
the total amount of $550,000. In connection therewith, the Company made the following: (1)&nbsp;a
promissory note in favor of George Resta in the amount of $50,000 (the &#147;Resta Note&#148;), and; (2)&nbsp;a
promissory note in favor of Investment Hunter, LLC in the amount of $500,000 (the &#147;Hunter
Note&#148;)(collectively, the &#147;March Notes&#148;). The March Notes matured on June&nbsp;30, 2008.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Under the terms of the March Notes, the Company, at its option, may elect to extend the maturity
date of the notes for a period of thirty (30)&nbsp;days. On July&nbsp;14, 2008, the Board of Directors of the
Company elected to extend the March Notes until July&nbsp;30, 2008 (See Exhibits 10.41 and 10.42
hereto). In accordance therewith, pursuant to the terms of such note, the Company issued 15,000
options to the holders of the Resta Note and Hunter Note, respectively (the &#147;Consideration
Options&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Consideration Options are exercisable immediately and carry a ten (10)&nbsp;year term. The
Consideration Options may be exercised at a price equal to the lesser of $2.00 or the effective
price at which the Company sells shares of its common stock in its next New Offering, as defined
above. Notwithstanding the foregoing, all other terms and conditions of the March Notes remain
unchanged and in full force and effect.
</DIV>

<!-- link1 "ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers" -->
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On July&nbsp;13, 2008, Mr.&nbsp;Donald C. Campion resigned, effective immediately, as a member of the Board
of Directors (&#147;Board&#148;) of Ecology Coatings, Inc. (the &#147;Company&#148;). &nbsp;Mr.&nbsp;Campion was the Chair of the
Company&#146;s Audit Committee and a member of the Company&#146;s Compensation Committee. In his resignation
letter, Mr.&nbsp;Campion informed the Company that his resignation relates to communication issues among
the Company&#146;s executive officers. A copy Mr.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Campion&#146;s letter of resignation is attached as Exhibit&nbsp;99.1 and is incorporated herein by
reference.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company understands that Mr.&nbsp;Campion resigned from the Board based on his disagreements with
the Company regarding certain aspects of the Company&#146;s internal communication operations, policies
and procedures. The Company takes Mr.&nbsp;Campion&#146;s concerns about the communication among the
Company&#146;s executive officers seriously and is addressing such issues. The Company appreciates Mr.
Campion&#146;s contributions as a Director of the Company and regrets his decision to resign.
</DIV>

<!-- link1 "ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(d)&nbsp;Exhibits.

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following exhibits are filed herewith:
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left">Exhibit</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left">Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.39
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Promissory note dated July&nbsp;10, 2008 made in favor of Mitch Shaheen*</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.40
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Promissory note dated July&nbsp;10, 2008 made in favor of Richard D. Stromback*</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.41
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Notice of extension dated July&nbsp;14, 2008 addressed to George Resta*</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.42
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Notice of extension dated July&nbsp;14, 2008 addressed to Investment Hunter LLC*</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Donald C. Campion Letter of Resignation dated July&nbsp;13, 2008.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "SIGNATURES" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
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<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left"><B>ECOLOGY COATINGS, INC.</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">DATE: July&nbsp;17, 2008</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Adam S. Tracy</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Adam S. Tracy</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Vice President, General Counsel and Secretary</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
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</DIV>



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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.39
<SEQUENCE>2
<FILENAME>k32689exv10w39.htm
<DESCRIPTION>PROMISSORY NOTE
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w39</TITLE>
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<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;10.39</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
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<TR valign="bottom">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top"><B>No.&nbsp;2</B></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top"><B>US $100,000.00</B>&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><B>July&nbsp;10, 2008</B></TD>
</TR>
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</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PROMISSORY NOTE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>FOR VALUE RECEIVED</I></B><B>, </B>the undersigned, Ecology Coatings, Inc., a Nevada corporation (the &#147;The
Maker&#148;), promises to pay to the order of Mitch Shaheen (the &#147;Holder&#148;), the principal amount of One
Hundred Thousand and 00/100 dollars ($100,000.00), together with interest thereon as provided
below.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 18pt">ARTICLE I

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U>TERMS OF REPAYMENT</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>1.&nbsp;Interest. </I></B>The Note shall bear interest (&#147;Interest&#148;) equal to twenty-five (25%) percent per
annum on the unpaid principal balance, computed on a three hundred and sixty-five (365)&nbsp;day year,
during the term of the Note. The Maker shall pay all Interest on or before the Maturity Date. In no
event shall the rate of Interest payable on this Note exceed the maximum rate of interest permitted
to be charged under applicable law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>2.&nbsp;Payments. </I></B>All payments by the Maker under this Note shall first be credited against costs
and expenses provided for hereunder, second to the payment of any penalties, third to the payment
of accrued and unpaid interest, if any, and the remainder shall be credited against principal. All
payments due hereunder shall be payable in legal tender of the United States of America, and in
same day funds delivered to the Holder by cashier&#146;s check, certified check, or any other means of
guaranteed funds to the mailing address provided below, or at such other place as the Holder or any
holder hereof shall designate in writing for such purpose from time to time. If a payment hereunder
otherwise would become due and payable on a Saturday, Sunday or legal holiday, the due date thereof
shall be extended to the next succeeding business day, and Interest, if any, shall be payable
thereon during such extension.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>3.&nbsp;Maturity Date. </I></B>All outstanding principal and interest shall be payable on August&nbsp;10, 2008
(the &#147;Maturity Date&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Pre-Payment Demand. </I></B>If at any time before the Maturity Date the Maker completes an
underwritten public offering of its common stock or other form of security convertible into common
stock pursuant to an effective registration statement under the Securities Act of 1933 (the &#147;Act&#148;),
as amended, or a managed private offering exempt from registration under Section&nbsp;4(2) of the Act
and Regulation&nbsp;D promulgated thereunder (collectively, a &#147;New Offering&#148;) which results in proceeds
received by the Maker net of underwriting discounts and commissions, of at least One Million and
00/100 dollars ($1,000,000.00) (a &#147;Pre-Payment Event&#148;), then at the sole and absolute discretion of
the Holder, and upon written demand to the Maker (the &#147;Pre-Payment Notice&#148;), all amounts owed under
this
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Note shall become due and payable within fifteen (15)&nbsp;days following Maker&#146;s receipt of the
Pre-Payment Notice.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>5.&nbsp;Exemption from Restrictions</I></B>. It is the intent of the Maker and the Holder in the execution
of this Note that the indebtedness hereunder be exempt from the restrictions of the usury laws of
any applicable jurisdiction. The Maker and the Holder agree that none of the terms and provisions
contained herein shall be construed to create a contract for the use, forbearance or detention of
money requiring payment of interest at a rate in excess of the maximum interest rate permitted to
be charged by the laws of any applicable jurisdiction. In such event, if any holder of this Note
shall collect monies which are deemed to constitute interest which would otherwise increase the
effective interest rate on this Note to a rate in excess of the maximum rate permitted to be
charged by the laws of any applicable jurisdiction, all such sums deemed to constitute interest in
excess of such maximum rate shall, at the option of such holder, be credited to the payment of this
principal amount due hereunder or returned to the Maker.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>6.&nbsp;</I></B>The indebtedness evidenced by this Note is hereby expressly subordinated, to the extent and
in the manner hereinafter set forth, in right of payment to the prior payment in full of all the
Maker&#146;s Senior Indebtedness, as hereinafter defined.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">a.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As used in this Note, the term &#147;Senior Indebtedness&#148; shall mean
the principal of an unpaid accrued interest on: (i)&nbsp;indebtedness of the Maker
or with respect to which the Maker is a guarantor, in excess of Fifty Thousand
and 00/100 dollars ($50,000.00), to banks, insurance companies, or other
financial institutions regularly engaged in the business of lending money,
which is for money borrowed by the Maker in the ordinary course of business;
(ii)&nbsp;any of the three (3)&nbsp;promissory notes made by the Maker in favor of Hayden
Capital USA, LLC, a Delaware limited liability company, on February&nbsp;4, 2008 and
May&nbsp;20, 2008, (the &#147;Senior Notes&#148;); (iii)&nbsp;any of the two (2)&nbsp;promissory notes
made by the Maker dated March&nbsp;1, 2008, or (iv)&nbsp;any such indebtedness or any
debentures, notes or other evidence of indebtedness issued in exchange for such
Senior Indebtedness, or any indebtedness arising from the satisfaction of such
Senior Indebtedness by a guarantor.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">b.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If there should occur any receivership, insolvency, assignment
for the benefit of creditors, bankruptcy, reorganization or arrangements with
creditors (whether or not pursuant to bankruptcy or other insolvency laws) sale
of all or substantially all of the assets, dissolution, liquidation or nay
other marshaling of the assets and liabilities of the Maker, or if this Note
shall be declared due and payable upon the occurrence of any Event of Default
with respect to any Senior Indebtedness, then: (i)&nbsp;no amount shall be paid by
the Maker in respect to the principal of and interest on this Note at the time
outstanding, unless and until the principal of an interest on the Senior
Indebtedness then outstanding shall be paid in full; (ii)&nbsp;no claim or proof of
claim shall be filed with the Maker by or on behalf of the Holder that shall
assert any right to receive payments in respect of the principal of and
interest on this Note, except</TD>
</TR>

</TABLE>
</DIV>
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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>subject to the payment in full of the principal of and interest on all of the
Senior Indebtedness then outstanding. If there occurs an Event of Default that
has been declared in writing with respect to any Senior Indebtedness, or in the
instrument under which any Senior Indebtedness is outstanding, permitting the
holder of such Senior Indebtedness to accelerate the maturity thereof, then,
unless and until such Event of Default shall have been cured or waived or shall
have ceased to exist, or all Senior Indebtedness shall have been paid in full,
no payment shall be made in respect of the principal of or interest on this
Note, unless within thirty (30)&nbsp;days after the happening of such event of
default, the maturity of such Senior Indebtedness shall not have been
accelerated.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">c.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the rights, if any, of the holders of Senior
Indebtedness under this Section&nbsp;6 to receive cash, securities or other
properties otherwise payable or deliverable to the Holder of this Note, nothing
contained in this Section&nbsp;6 shall impair, as between the Company and the
Holder, the obligation of the Company, subject to the terms and conditions
hereof, to pay to the Holder the principal hereof and interest hereon as and
when the same become due and payable, or shall prevent the Holder of this Note,
upon default hereunder, from exercising all rights, powers and remedies
otherwise provided herein or by applicable law.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">d.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the payment in full of all Senior Indebtedness and
until this Note shall be paid in full, the Holder shall be subrogated to the
rights of the holders of Senior Indebtedness (to the extent of payments or
distributions previously made to such holders of Senior Indebtedness pursuant
to the provisions of Section&nbsp;6 above) to receive payments or distributions of
assets of the Maker applicable to the Senior Indebtedness. No such payments or
distributions applicable to the Senior Indebtedness shall, as between the
Company and its creditors, other than the holders of Senior Indebtedness and
the Holder, be deemed to be a payment by the Company to or on account of this
Note; and for the purposes of such subrogation, no payments or distributions to
the holders of Senior Indebtedness to which the Holder would be entitled except
for the provisions of this Section&nbsp;6 shall, as between the company and its
creditors, other than the holders of Senior Indebtedness and the Holder, be
deemed to be a payment by the Company to or on account of the Senior
Indebtedness.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE II
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U>COVENANTS</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>7.&nbsp;Conversion. </I></B>If at any time before the Maturity Date, the Maker completes a New Offering,
the Maker shall give the Holder the option to convert this Note, in whole or in part, into a number
of the same type of Maker&#146;s securities issued in the New Offering (the &#147;Issued Securities&#148;). The
number of Issued Securities issued upon conversion of this Note shall be
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">determined by dividing the principal amount of the Note by the price per share at which the
Issued Securities were sold in the New Offering (the &#147;Conversion Price&#148;), rounding any fractional
result down to the near whole share. No fractional shares shall be issued upon conversation of this
Note. In lieu of fractional shares, the Holder shall pay cash (based on the Conversion Price) equal
to any fraction of a share remaining (the &#147;Cash Payment&#148;). Notwithstanding the foregoing, should
the Company fail to complete a New Offering, the Holder may elect to convert this Note, in whole or
part, into shares of the Maker&#146;s Common Stock at a price of zero and 50/100 dollars ($.50) per
share.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>8.&nbsp;Options. </I></B>In partial consideration of this Note, the Maker shall issue to Holder a option to
purchase One Hundred Thousand (100,000) shares of the Maker&#146;s Common Stock (the &#147;Consideration
Option&#148;). The Consideration Option will be immediately exercisable, in whole or part, into the
&#147;Underlying Shares.&#148; The Options will have an exercise price equal to Zero and 50/100 dollars
($.50). The Options will be delivered in a form acceptable to Holder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>9.&nbsp;Piggyback Registration. </I></B>If the Conversion Shares and the Underlying Shares (collectively,
the &#147;Shares&#148;) have not been otherwise registered and at any time the Maker proposes to file a
registration statement, whether or not for sale for the Maker&#146;s own account, on a form and in a
manner that would also permit registration of shares (other than in connection with a registration
statement on Forms S-4 or S-8 or any similar or successor form) the Maker shall give to Holder,
written notice of such proposed filing promptly, but in any case at least twenty (20)&nbsp;days before
the anticipated filing. The notice referred to in the preceding sentence shall offer the holder(s)
holding the Shares the opportunity to register such amount of the Shares as he may request (a
&#147;Piggyback Registration&#148;). Subject to this Section, the Maker will include in each such Piggyback
Registration (and any related qualification under state blue sky laws and other compliance filings,
and in any underwriting involved therein) that portion of the Shares with respect to which the
Maker has received written requests for inclusion therein within twenty (20)&nbsp;days after the written
notice from the Maker is given. The holders holding any portion of the Shares will be permitted to
withdraw all or part of the Shares from a Piggyback Registration at any time prior to the effective
date of such Piggyback Registration. Notwithstanding the foregoing, the Maker will not be obligated
to effect any registration of shares under this Paragraph&nbsp;7 as a result of the registration of any
of its securities solely in connection with mergers effected pursuant to a Form S-4 Filing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>10.&nbsp;Covenants Regarding Registration</I></B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">a.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Maker shall use its best efforts to have any registration
statement declared effective at the earliest possible time, and shall furnish
such number of prospectuses as shall be reasonably required.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">b.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Maker shall bear all costs, fees and expenses in connection
with a Piggyback Registration,</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">c.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Maker will take all necessary action which may be required
in qualifying qualifying or registering the Shares included in any Piggyback
Registration for offering and sale under the securities or blue sky laws of
such states as are</TD>
</TR>

</TABLE>
</DIV>
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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>requested by the holders of such Shares, provided that the Maker shall not be
obligated to execute or file any general consent to service or process or to
qualify as a foreign corporation to do business under the laws of any such
jurisdiction.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>11.&nbsp;Indemnification. </I></B>The Maker shall, at The Maker&#146;s expense, protect, defend, indemnify, save
and hold Holder harmless against any and all claims, demands, losses, expenses, damages, causes of
action (whether legal or equitable in nature) asserted by any person or entity arising out of,
caused by or relating to the Note, including without limitation the construction of the Note and
the use or application of the proceeds of the Note, and The Maker shall pay Holder upon demand all
claims, judgments, damages, losses and expenses (including court costs and reasonable attorneys&#146;
fees and expenses) incurred by Holder as a result of any legal or other action arising out of the
Note as aforesaid.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>12.&nbsp;Attorneys Fees. </I></B>The Maker shall reimburse Holder for all reasonable costs, attorney&#146;s
fees, and all other expenses in connection with this Note.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>13.&nbsp;Notice of Default. </I></B>So long as any amount under this Note shall remain unpaid, the Holder
will, unless the Maker otherwise consents in writing, promptly give written notice to the Maker in
reasonable detail of the occurrence of any Event of Default, or any condition, event or act which
with the giving of notice or the passage of time or both would constitute an Event of Default.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE III
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U>DEFAULT</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>14.&nbsp;Events of Default. </I></B>Any of the following events shall constitute an &#147;Event of Default&#148;
hereunder:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">a.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Failure by the Maker to pay the principal or Interest, if any,
of this Note when due and payable on the Maturity Date.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">b.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The entry of an order for relief under Federal Bankruptcy Code
as to the Maker or approving a petition in reorganization or other similar
relief under bankruptcy or similar laws in the United States of America or any
other competent jurisdiction, and if such order, if involuntary, is not
satisfied or withdrawn within sixty (60)&nbsp;days after entry thereof; or the
filing of a petition by the Maker seeking any of the foregoing, or consenting
thereto; or the filing of a petition to take advantage of any debtor&#146;s act; or
making a general assignment for the benefit of creditors; or admitting in
writing inability to pay debts as they mature; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">c.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Failure by the Maker to pay the principal and Interest, if any,
of this Note concurrent with a Pre-Payment Event; or</TD>
</TR>


</TABLE>
</DIV>
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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">d.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The breach of any covenant made by the Maker in this Note.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>15.&nbsp;Acceleration. </I></B>Upon any Event of Default (in addition to any other rights or remedies
provided for under this Note), at the option of the Holder or any holder hereof, all sums evidenced
hereby, including all principal, accrued but unpaid Interest, fees and all other amounts due
hereunder, shall become immediately due and payable. If an Event of Default relating to certain
events of bankruptcy or insolvency of the Maker occurs and is continuing, the principal of and
interest, if any, on this Note will become and be immediately due and payable without any
declaration or other act on the part of the Holder or any holder hereof. This Note shall bear
interest at the rate of twenty-five (25%) percent per annum upon the occurrence of an Event of
Default (&#147;Default Interest&#148;). Payments of the Default Interest shall be due every thirty (30)&nbsp;days
following the occurrence Event of Default.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>16.&nbsp;No Waiver. </I></B>Failure of the Holder or any holder hereof to exercise any option hereunder
shall not constitute a waiver of the right to exercise the same in the event of any subsequent
Event of Default, or in the event of continuance of any existing Event of Default after demand or
performance thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>17.&nbsp;Pursuit of any Remedy. </I></B>The Holder or holder hereof may pursue any remedy under this Note
without notice or presentment. The Holder or any holder hereof has the right to direct the time,
method and place of conducting any proceeding for exercising any remedy available to the Holder or
any such holder hereof under this Note.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 18pt">ARTICLE IV

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U>MISCELLANEOUS</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>18.&nbsp;Amendments. </I></B>No amendment or waiver of any provision of this Note, nor consent to any
departure by the Maker herefrom, shall in any event be effective unless the same shall be in
writing and signed by the Holder, and then such waiver or consent shall be effective only in the
specific instance and for the specific purpose for which given.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>19.&nbsp;Notices. </I></B>All notices and other communications provided for hereunder shall be in writing
(including telecopier communication) and mailed, telecopied, or delivered, to the Maker or the
Holder, as applicable, at their respective addresses specified on the signature pages hereof, or,
as to each party, at such other address as shall be designated by such party in a written notice to
the other party. All such notices and communications shall, when mailed or telecopied, be effective
when deposited in the mails or telecopied with receipt confirmed, respectively.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>20.&nbsp;No Waiver; Remedies. </I></B>No failure on the part of the Holder to exercise, and no delay in
exercising, any right hereunder shall operate as a waiver thereof, nor shall any single or partial
exercise of any right hereunder preclude any other or further exercise thereof or the exercise of
any other right. All rights, powers and remedies of the Holder in connection with this Note are
cumulative and not exclusive, and shall be in addition to any other rights, powers or remedies
provided by law or equity.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>21.&nbsp;Severability; Headings. </I></B>If any one or more provisions of this Note shall be held to be
illegal, invalid or otherwise unenforceable, the same shall not affect any other provisions of this
Note and the remaining provisions of this Note shall remain in full force and effect. Article and
paragraph headings in this Note are included herein for convenience of reference only and shall not
constitute a part of this Note for any other purpose or be given any substantive effect.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>22.&nbsp;Binding Effect; Transfer. </I></B>This Note shall be binding upon and inure to the benefit of the
Maker and the Holder and their respective successors and assigns. The Holder may not assign or
otherwise transfer, or grant participations in, this Note or all or any portion of its rights
hereunder or its interest herein to any person or entity, without the prior written consent of the
Maker which consent shall not be unreasonably withheld. The Maker may not assign or otherwise
transfer its rights or obligations hereunder or any interest herein without the prior written
consent of the Holder. Any attempted assignment by the Maker or the Holder in contravention of this
paragraph shall be null and void and of no force or effect.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>23.&nbsp;Enforcement. </I></B>It is agreed that time is of the essence of this Note and in the event of
default of the terms of this Note, the Maker agrees to pay all costs of collection or enforcement,
including reasonable attorneys&#146; fees and if there is a default in payment of any sum due hereunder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>24.&nbsp;Governing Law. </I></B>This Note shall be governed by, and shall be construed and enforced in
accordance with, the internal laws of the State of New York without regard to conflicts of laws
principles. The venue of any legal proceeding taken in connection with this Note will be Detroit,
Michigan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>25.&nbsp;Independence of Covenants. </I></B>All covenants hereunder shall be given independent effect so
that if a particular action or condition is not permitted by any of such covenants, the fact that
it would be permitted by an exception to, or be otherwise within the limitations of, another
covenant shall not avoid the occurrence of an Event of Default or event which with notice or lapse
of time or both would become an Event of Default if such action is taken or condition exists.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>26.&nbsp;Interpretation. </I></B>The Holder and the Maker hereby waive the benefit of any statute or rule
of law or judicial decision which would otherwise require that the provisions of this Note be
construed or interpreted more strongly against the party responsible for the drafting thereof.
</DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B><I>&#091;REMAINDER OF PAGE INTENTIONALLY LEFT BLANK&#093;</I></B>
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>IN WITNESS WHEREOF, </I></B>this Note has been issued as of date first written above.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">MAKER:<BR><BR style="font-size: 6pt">

Ecology Coatings, Inc.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ Adam S. Tracy, Esq.
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Adam S. Tracy, Esq.&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Vice President, General Counsel &#038; Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Mailing Address of Holder:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Mitch Shaheen</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Mailing Address of Maker:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Ecology Coatings, Inc.<BR>
c/o Adam S. Tracy, General Counsel<BR>
35980 Woodward Avenue, Suite&nbsp;200<BR>
Bloomfield Hills, Michigan 48304

</DIV>


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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.40
<SEQUENCE>3
<FILENAME>k32689exv10w40.htm
<DESCRIPTION>NOTICE OF EXTENSION
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w40</TITLE>
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<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;10.40</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>No.&nbsp;1</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top"><B>US $3,333</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><B>July&nbsp;10, 2008</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PROMISSORY NOTE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>FOR VALUE RECEIVED</I></B><B>, </B>the undersigned, Ecology Coatings, Inc., a Nevada corporation (the &#147;The
Maker&#148;), promises to pay to the order of Richard D. Stromback (the &#147;Holder&#148;), the principal amount
of Three Thousand three hundred and thirty-three dollars and 00/100 ($3,333), together with
interest thereon as provided below.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE I
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U>TERMS OF REPAYMENT</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>1.&nbsp;Interest. </I></B>The Note shall bear interest (&#147;Interest&#148;) equal to twenty-five (25%) percent per
annum on the unpaid principal balance, computed on a three hundred and sixty-five (365)&nbsp;day year,
during the term of the Note. The Maker shall pay all Interest on or before the Maturity Date. In no
event shall the rate of Interest payable on this Note exceed the maximum rate of interest permitted
to be charged under applicable law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>2.&nbsp;Payments. </I></B>All payments by the Maker under this Note shall first be credited against costs
and expenses provided for hereunder, second to the payment of any penalties, third to the payment
of accrued and unpaid interest, if any, and the remainder shall be credited against principal. All
payments due hereunder shall be payable in legal tender of the United States of America, and in
same day funds delivered to the Holder by cashier&#146;s check, certified check, or any other means of
guaranteed funds to the mailing address provided below, or at such other place as the Holder or any
holder hereof shall designate in writing for such purpose from time to time. If a payment hereunder
otherwise would become due and payable on a Saturday, Sunday or legal holiday, the due date thereof
shall be extended to the next succeeding business day, and Interest, if any, shall be payable
thereon during such extension.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>3.&nbsp;Maturity Date. </I></B>All outstanding principal and interest shall be payable on August&nbsp;10, 2008
(the &#147;Maturity Date&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>4.&nbsp;Pre-Payment Demand. </I></B>If at any time before the Maturity Date the Maker completes an
underwritten public offering of its common stock or other form of security convertible into common
stock pursuant to an effective registration statement under the Securities Act of 1933 (the &#147;Act&#148;),
as amended, or a managed private offering exempt from registration under Section&nbsp;4(2) of the Act
and Regulation&nbsp;D promulgated thereunder (collectively, a &#147;New Offering&#148;) which results in proceeds
received by the Maker net of underwriting discounts and commissions, of at least One Million and
00/100 dollars ($1,000,000.00) (a &#147;Pre-Payment Event&#148;), then at the sole and absolute discretion of
the Holder, and upon written demand to the Maker (the &#147;Pre-Payment Notice&#148;), all amounts owed under this
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Note shall become due and payable within fifteen (15)&nbsp;days following Maker&#146;s receipt of the
Pre-Payment Notice.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>5.&nbsp;Exemption from Restrictions</I></B>. It is the intent of the Maker and the Holder in the execution
of this Note that the indebtedness hereunder be exempt from the restrictions of the usury laws of
any applicable jurisdiction. The Maker and the Holder agree that none of the terms and provisions
contained herein shall be construed to create a contract for the use, forbearance or detention of
money requiring payment of interest at a rate in excess of the maximum interest rate permitted to
be charged by the laws of any applicable jurisdiction. In such event, if any holder of this Note
shall collect monies which are deemed to constitute interest which would otherwise increase the
effective interest rate on this Note to a rate in excess of the maximum rate permitted to be
charged by the laws of any applicable jurisdiction, all such sums deemed to constitute interest in
excess of such maximum rate shall, at the option of such holder, be credited to the payment of this
principal amount due hereunder or returned to the Maker.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>6.&nbsp;</I></B>The indebtedness evidenced by this Note is hereby expressly subordinated, to the extent and
in the manner hereinafter set forth, in right of payment to the prior payment in full of all the
Maker&#146;s Senior Indebtedness, as hereinafter defined.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">a.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As used in this Note, the term &#147;Senior Indebtedness&#148; shall mean
the principal of an unpaid accrued interest on: (i)&nbsp;indebtedness of the Maker
or with respect to which the Maker is a guarantor, in excess of Fifty Thousand
and 00/100 dollars ($50,000.00), to banks, insurance companies, or other
financial institutions regularly engaged in the business of lending money,
which is for money borrowed by the Maker in the ordinary course of business;
(ii)&nbsp;any of the three (3)&nbsp;promissory notes made by the Maker in favor of Hayden
Capital USA, LLC, a Delaware limited liability company, on February&nbsp;4, 2008 and
May&nbsp;20, 2008, (the &#147;Senior Notes&#148;); (iii)&nbsp;any of the two (2)&nbsp;promissory notes
made by the Maker dated March&nbsp;1, 2008; (iv)&nbsp;any of the two (2)&nbsp;promissory notes
made by the Maker in favor of Mitch Shaheen, or; (v)&nbsp;any such indebtedness or
any debentures, notes or other evidence of indebtedness issued in exchange for
such Senior Indebtedness, or any indebtedness arising from the satisfaction of
such Senior Indebtedness by a guarantor.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">b.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If there should occur any receivership, insolvency, assignment
for the benefit of creditors, bankruptcy, reorganization or arrangements with
creditors (whether or not pursuant to bankruptcy or other insolvency laws) sale
of all or substantially all of the assets, dissolution, liquidation or nay
other marshaling of the assets and liabilities of the Maker, or if this Note
shall be declared due and payable upon the occurrence of any Event of Default
with respect to any Senior Indebtedness, then: (i)&nbsp;no amount shall be paid by
the Maker in respect to the principal of and interest on this Note at the time
outstanding, unless and until the principal of an interest on the Senior
Indebtedness then outstanding
shall be paid in full; (ii)&nbsp;no claim or proof of claim shall be filed with the
Maker by or on behalf of the Holder that shall assert any right to receive</TD>
</TR>

</TABLE>
</DIV>
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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>payments in respect of the principal of and interest on this Note, except
subject to the payment in full of the principal of and interest on all of the
Senior Indebtedness then outstanding. If there occurs an Event of Default that
has been declared in writing with respect to any Senior Indebtedness, or in the
instrument under which any Senior Indebtedness is outstanding, permitting the
holder of such Senior Indebtedness to accelerate the maturity thereof, then,
unless and until such Event of Default shall have been cured or waived or shall
have ceased to exist, or all Senior Indebtedness shall have been paid in full,
no payment shall be made in respect of the principal of or interest on this
Note, unless within thirty (30)&nbsp;days after the happening of such event of
default, the maturity of such Senior Indebtedness shall not have been
accelerated.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">c.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the rights, if any, of the holders of Senior
Indebtedness under this Section&nbsp;6 to receive cash, securities or other
properties otherwise payable or deliverable to the Holder of this Note, nothing
contained in this Section&nbsp;6 shall impair, as between the Company and the
Holder, the obligation of the Company, subject to the terms and conditions
hereof, to pay to the Holder the principal hereof and interest hereon as and
when the same become due and payable, or shall prevent the Holder of this Note,
upon default hereunder, from exercising all rights, powers and remedies
otherwise provided herein or by applicable law.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">d.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the payment in full of all Senior Indebtedness and
until this Note shall be paid in full, the Holder shall be subrogated to the
rights of the holders of Senior Indebtedness (to the extent of payments or
distributions previously made to such holders of Senior Indebtedness pursuant
to the provisions of Section&nbsp;6 above) to receive payments or distributions of
assets of the Maker applicable to the Senior Indebtedness. No such payments or
distributions applicable to the Senior Indebtedness shall, as between the
Company and its creditors, other than the holders of Senior Indebtedness and
the Holder, be deemed to be a payment by the Company to or on account of this
Note; and for the purposes of such subrogation, no payments or distributions to
the holders of Senior Indebtedness to which the Holder would be entitled except
for the provisions of this Section&nbsp;6 shall, as between the company and its
creditors, other than the holders of Senior Indebtedness and the Holder, be
deemed to be a payment by the Company to or on account of the Senior
Indebtedness.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE II
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U>COVENANTS</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>7.&nbsp;Conversion. </I></B>If at any time before the Maturity Date, the Maker completes a New Offering,
the Maker shall give the Holder the option to convert this Note, in whole or in part, into a number
of the same type of Maker&#146;s securities issued in the New Offering (the &#147;Issued
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities&#148;). The
number of Issued Securities issued upon conversion of this Note shall be determined by dividing the
principal amount of the Note by the price per share at which the Issued Securities were sold in the
New Offering (the &#147;Conversion Price&#148;), rounding any fractional result down to the near whole share.
No fractional shares shall be issued upon conversation of this Note. In lieu of fractional shares,
the Holder shall pay cash (based on the Conversion Price) equal to any fraction of a share
remaining (the &#147;Cash Payment&#148;). Notwithstanding the foregoing, should the Company fail to complete
a New Offering, the Holder may elect to convert this Note, in whole or part, into shares of the
Maker&#146;s Common Stock at a price of zero and 50/100 dollars ($.50) per share.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>8.&nbsp;Options. </I></B>In partial consideration of this Note, the Maker shall issue to Holder a option to
purchase Three Thousand three hundred and thirty-three (3,333) shares of the Maker&#146;s Common Stock
(the &#147;Consideration Option&#148;). The Consideration Option will be immediately exercisable, in whole or
part, into the &#147;Underlying Shares.&#148; The Options will have an exercise price equal to Zero and
50/100 dollars ($.50). The Options will be delivered in a form acceptable to Holder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>9.&nbsp;Piggyback Registration. </I></B>If the Conversion Shares and the Underlying Shares (collectively,
the &#147;Shares&#148;) have not been otherwise registered and at any time the Maker proposes to file a
registration statement, whether or not for sale for the Maker&#146;s own account, on a form and in a
manner that would also permit registration of shares (other than in connection with a registration
statement on Forms S-4 or S-8 or any similar or successor form) the Maker shall give to Holder,
written notice of such proposed filing promptly, but in any case at least twenty (20)&nbsp;days before
the anticipated filing. The notice referred to in the preceding sentence shall offer the holder(s)
holding the Shares the opportunity to register such amount of the Shares as he may request (a
&#147;Piggyback Registration&#148;). Subject to this Section, the Maker will include in each such Piggyback
Registration (and any related qualification under state blue sky laws and other compliance filings,
and in any underwriting involved therein) that portion of the Shares with respect to which the
Maker has received written requests for inclusion therein within twenty (20)&nbsp;days after the written
notice from the Maker is given. The holders holding any portion of the Shares will be permitted to
withdraw all or part of the Shares from a Piggyback Registration at any time prior to the effective
date of such Piggyback Registration. Notwithstanding the foregoing, the Maker will not be obligated
to effect any registration of shares under this Paragraph&nbsp;7 as a result of the registration of any
of its securities solely in connection with mergers effected pursuant to a Form S-4 Filing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>10.&nbsp;Covenants Regarding Registration</I></B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">a.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Maker shall use its best efforts to have any registration
statement declared effective at the earliest possible time, and shall furnish
such number of prospectuses as shall be reasonably required.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">b.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Maker shall bear all costs, fees and expenses in connection
with a Piggyback Registration,</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">c.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Maker will take all necessary action which may be required
in qualifying qualifying or registering the Shares included in any Piggyback
Registration for offering and sale under the securities or blue sky laws of
such states as are requested by the holders of such Shares, provided that the
Maker shall not be obligated to execute or file any general consent to service
or process or to qualify as a foreign corporation to do business under the laws
of any such jurisdiction.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>11.&nbsp;Indemnification. </I></B>The Maker shall, at The Maker&#146;s expense, protect, defend, indemnify, save
and hold Holder harmless against any and all claims, demands, losses, expenses, damages, causes of
action (whether legal or equitable in nature) asserted by any person or entity arising out of,
caused by or relating to the Note, including without limitation the construction of the Note and
the use or application of the proceeds of the Note, and The Maker shall pay Holder upon demand all
claims, judgments, damages, losses and expenses (including court costs and reasonable attorneys&#146;
fees and expenses) incurred by Holder as a result of any legal or other action arising out of the
Note as aforesaid.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>12.&nbsp;Attorneys Fees. </I></B>The Maker shall reimburse Holder for all reasonable costs, attorney&#146;s
fees, and all other expenses in connection with this Note.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>13.&nbsp;Notice of Default. </I></B>So long as any amount under this Note shall remain unpaid, the Holder
will, unless the Maker otherwise consents in writing, promptly give written notice to the Maker in
reasonable detail of the occurrence of any Event of Default, or any condition, event or act which
with the giving of notice or the passage of time or both would constitute an Event of Default.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE III
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U>DEFAULT</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>14.&nbsp;Events of Default. </I></B>Any of the following events shall constitute an &#147;Event of Default&#148;
hereunder:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">a.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Failure by the Maker to pay the principal or Interest, if any,
of this Note when due and payable on the Maturity Date.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">b.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The entry of an order for relief under Federal Bankruptcy Code
as to the Maker or approving a petition in reorganization or other similar
relief under bankruptcy or similar laws in the United States of America or any
other competent jurisdiction, and if such order, if involuntary, is not
satisfied or
withdrawn within sixty (60)&nbsp;days after entry thereof; or the filing of a
petition by the Maker seeking any of the foregoing, or consenting thereto; or
the filing of a petition to take advantage of any debtor&#146;s act; or making a
general assignment for the benefit of creditors; or admitting in writing
inability to pay debts as they mature; or</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">c.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Failure by the Maker to pay the principal and Interest, if any,
of this Note concurrent with a Pre-Payment Event; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">d.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The breach of any covenant made by the Maker in this Note.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>15.&nbsp;Acceleration. </I></B>Upon any Event of Default (in addition to any other rights or remedies
provided for under this Note), at the option of the Holder or any holder hereof, all sums evidenced
hereby, including all principal, accrued but unpaid Interest, fees and all other amounts due
hereunder, shall become immediately due and payable. If an Event of Default relating to certain
events of bankruptcy or insolvency of the Maker occurs and is continuing, the principal of and
interest, if any, on this Note will become and be immediately due and payable without any
declaration or other act on the part of the Holder or any holder hereof. This Note shall bear
interest at the rate of twenty-five (25%) percent per annum upon the occurrence of an Event of
Default (&#147;Default Interest&#148;). Payments of the Default Interest shall be due every thirty (30)&nbsp;days
following the occurrence Event of Default.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>16.&nbsp;No Waiver. </I></B>Failure of the Holder or any holder hereof to exercise any option hereunder
shall not constitute a waiver of the right to exercise the same in the event of any subsequent
Event of Default, or in the event of continuance of any existing Event of Default after demand or
performance thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>17.&nbsp;Pursuit of any Remedy. </I></B>The Holder or holder hereof may pursue any remedy under this Note
without notice or presentment. The Holder or any holder hereof has the right to direct the time,
method and place of conducting any proceeding for exercising any remedy available to the Holder or
any such holder hereof under this Note.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE IV
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U>MISCELLANEOUS</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>18.&nbsp;Amendments. </I></B>No amendment or waiver of any provision of this Note, nor consent to any
departure by the Maker herefrom, shall in any event be effective unless the same shall be in
writing and signed by the Holder, and then such waiver or consent shall be effective only in the
specific instance and for the specific purpose for which given.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>19.&nbsp;Notices. </I></B>All notices and other communications provided for hereunder shall be in writing
(including telecopier communication) and mailed, telecopied, or delivered, to the Maker or the
Holder, as applicable, at their respective addresses specified on the signature pages hereof, or,
as to each party, at such other address as shall be designated by such party in a written notice to
the other party. All such notices and communications shall, when mailed or telecopied, be effective
when deposited in the mails or telecopied with receipt confirmed, respectively.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>20.&nbsp;No Waiver; Remedies. </I></B>No failure on the part of the Holder to exercise, and no delay in
exercising, any right hereunder shall operate as a waiver thereof, nor shall any single or partial
exercise of any right hereunder preclude any other or further exercise thereof or the
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->6<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">exercise of
any other right. All rights, powers and remedies of the Holder in connection with this Note are
cumulative and not exclusive, and shall be in addition to any other rights, powers or remedies
provided by law or equity.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>21.&nbsp;Severability; Headings. </I></B>If any one or more provisions of this Note shall be held to be
illegal, invalid or otherwise unenforceable, the same shall not affect any other provisions of this
Note and the remaining provisions of this Note shall remain in full force and effect. Article and
paragraph headings in this Note are included herein for convenience of reference only and shall not
constitute a part of this Note for any other purpose or be given any substantive effect.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>22.&nbsp;Binding Effect; Transfer. </I></B>This Note shall be binding upon and inure to the benefit of the
Maker and the Holder and their respective successors and assigns. The Holder may not assign or
otherwise transfer, or grant participations in, this Note or all or any portion of its rights
hereunder or its interest herein to any person or entity, without the prior written consent of the
Maker which consent shall not be unreasonably withheld. The Maker may not assign or otherwise
transfer its rights or obligations hereunder or any interest herein without the prior written
consent of the Holder. Any attempted assignment by the Maker or the Holder in contravention of this
paragraph shall be null and void and of no force or effect.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>23.&nbsp;Enforcement. </I></B>It is agreed that time is of the essence of this Note and in the event of
default of the terms of this Note, the Maker agrees to pay all costs of collection or enforcement,
including reasonable attorneys&#146; fees and if there is a default in payment of any sum due hereunder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>24.&nbsp;Governing Law. </I></B>This Note shall be governed by, and shall be construed and enforced in
accordance with, the internal laws of the State of New York without regard to conflicts of laws
principles. The venue of any legal proceeding taken in connection with this Note will be Detroit,
Michigan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>25.&nbsp;Independence of Covenants. </I></B>All covenants hereunder shall be given independent effect so
that if a particular action or condition is not permitted by any of such covenants, the fact
that it would be permitted by an exception to, or be otherwise within the limitations of,
another covenant shall not avoid the occurrence of an Event of Default or event which with notice
or lapse of time or both would become an Event of Default if such action is taken or condition
exists.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>26.&nbsp;Interpretation. </I></B>The Holder and the Maker hereby waive the benefit of any statute or rule
of law or judicial decision which would otherwise require that the provisions of this Note be
construed or interpreted more strongly against the party responsible for the drafting thereof.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B><I>&#091;REMAINDER OF PAGE INTENTIONALLY LEFT BLANK&#093;</I></B>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->7<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>IN WITNESS WHEREOF, </I></B>this Note has been issued as of date first written above.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">MAKER:
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Ecology Coatings, Inc.<br>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ Adam S. Tracy, Esq.
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Adam S. Tracy, Esq.&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Vice President, General Counsel &#038; Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Mailing Address of Holder:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Richard D. Stromback<BR>
1050 Northover Dr.<BR>
Bloomfield Hills, MI 48304

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mailing Address of Maker:

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Ecology Coatings, Inc.<BR>
c/o Adam S. Tracy, General Counsel<BR>
35980 Woodward Avenue, Suite&nbsp;200<BR>
Bloomfield Hills, Michigan 48304

</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->8<!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.41
<SEQUENCE>4
<FILENAME>k32689exv10w41.htm
<DESCRIPTION>NOTICE OF EXTENSION
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w41</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;10.41</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">July&nbsp;14, 2008
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Via Email</B></U><BR>
George Resta<BR>
854 St. Edmund Place<BR>
Annapolis, MD 21407

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><I>Re:</I></B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><I>Notice of Extension<br>
Convertible Promissory Note dated March&nbsp;1, 2008</I></B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Dear Mr.&nbsp;Resta,
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to paragraph &#147;3&#148; of the aforementioned promissory note, Ecology Coatings (the &#147;Company)
does hereby elect to extend the term of the note until June&nbsp;30, 2008. In connection therewith, the
Company has issued you an option to purchase Fifteen Thousand (15,000) shares of the Company&#146;s
common stock. That option grant is included herein for your review and consideration. Please
execute and return at your earliest convenience.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thank you for your time in addressing this matter.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 50%">Yours very truly,

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 50%">Adam S. Tracy, Esq.<BR>
Vice President, General Counsel &#038; Secretary

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">cc
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Richard D. Stromback
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">enc (1)
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.42
<SEQUENCE>5
<FILENAME>k32689exv10w42.htm
<DESCRIPTION>NOTICE OF EXTENSION
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w42</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;10.42</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">July&nbsp;14, 2008
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Via Email</B></U><BR>
Gary Evans<BR>
Investment Hunter LLC<BR>
1048 Texan Trail<BR>
Grapevine, Texas 76051

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><I>Re:</I></B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><I>Notice of Extension<br>
Convertible Promissory Note dated March&nbsp;1, 2008<br>
Investment Hunter, LLC</I></B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Dear Mr.&nbsp;Evans
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to paragraph &#147;3&#148; of the aforementioned promissory note, Ecology Coatings (the &#147;Company)
does hereby elect to extend the term of the note until June&nbsp;30, 2008. In connection therewith, the
Company has issued Investment Hunter LLC an option to purchase Fifteen Thousand (15,000) shares of
the Company&#146;s common stock. That option grant is included herein for your review and consideration.
Please execute and return at your earliest convenience.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Thank you for your time in addressing this matter.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 50%">Yours very truly,

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 50%">Adam S. Tracy, Esq.<BR>
Vice President, General Counsel &#038; Secretary

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">cc
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Richard D. Stromback
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">enc (1)
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>6
<FILENAME>k32689exv99w1.htm
<DESCRIPTION>DONALD C. CAMPION LETTER OF RESIGNATION
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;99.1</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Donald C. Campion<BR>
3747 Loch Bend Drive<BR>
Commerce, Michigan 48382<BR>
(248)&nbsp;360-8105<BR>
Fax (248)&nbsp;360-4120
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">July&nbsp;13, 2008
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Richard D. Stromback<BR>
Ecology Coatings, Inc.<BR>
35980 Woodward Ave.<BR>
Suite&nbsp;200<BR>
Bloomfield Hills, MI 48304

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Dear Richard:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This is to inform you that I am resigning from the Board of Directors of Ecology Coatings,
effective immediately.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The reason for my decision to resign is lack of communication among the CEO, the CFO and the
General Counsel. I have shared these concerns with you before, and I am disappointed that the
communication problems are worse than ever. I find that the risk of remaining on the Board under
these circumstances is unacceptable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I believe that Ecology Coatings has a tremendous opportunity to use its proprietary technology
to substantially enhance shareholder value. I have only the warmest regards and respect for the
employees of Ecology Coatings, and I wish them well.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Sincerely,<br><BR>

<IMG src="k32689k3268901.gif" alt="(Donald C. Campion)"><br>
Donald C. Campion
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>




</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>k32689k3268901.gif
<DESCRIPTION>GRAPHIC
<TEXT>
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
