-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Q8gq32zq+aNqUi0CKQNRTT6nKl4z3qTh8OVZCAe/+bcTQ/78TEpTLiBudi1qN5tR
 U7KaHIKg5xWMxMuvDa2B0w==

<SEC-DOCUMENT>0001144204-10-049786.txt : 20100917
<SEC-HEADER>0001144204-10-049786.hdr.sgml : 20100917
<ACCEPTANCE-DATETIME>20100917060848
ACCESSION NUMBER:		0001144204-10-049786
CONFORMED SUBMISSION TYPE:	4/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20091223
FILED AS OF DATE:		20100917
DATE AS OF CHANGE:		20100917

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EnergyConnect Group Inc
		CENTRAL INDEX KEY:			0000944947
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRICAL WORK [1731]
		IRS NUMBER:				930935149
		STATE OF INCORPORATION:			OR
		FISCAL YEAR END:			0102

	BUSINESS ADDRESS:	
		STREET 1:		5335 SW MEADOWS ROAD
		STREET 2:		SUITE 325
		CITY:			LAKE OSWEGO
		STATE:			OR
		ZIP:			97035
		BUSINESS PHONE:		8664887642

	MAIL ADDRESS:	
		STREET 1:		5335 SW MEADOWS ROAD
		STREET 2:		SUITE 325
		CITY:			LAKE OSWEGO
		STATE:			OR
		ZIP:			97035

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MICROFIELD GROUP INC
		DATE OF NAME CHANGE:	20030519

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MICROFIELD GRAPHICS INC /OR
		DATE OF NAME CHANGE:	19950504

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Aequitas Commercial Finance, LLC
		CENTRAL INDEX KEY:			0001286568

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26226
		FILM NUMBER:		101077156

	BUSINESS ADDRESS:	
		STREET 1:		5300 MEADOWS ROAD
		STREET 2:		SUITE 400
		CITY:			LAKE OSWEGO
		STATE:			OR
		ZIP:			97035
		BUSINESS PHONE:		503-419-3500

	MAIL ADDRESS:	
		STREET 1:		5300 MEADOWS ROAD
		STREET 2:		SUITE 400
		CITY:			LAKE OSWEGO
		STATE:			OR
		ZIP:			97035

	FORMER NAME:	
		FORMER CONFORMED NAME:	DESTINATION CAPITAL LLC
		DATE OF NAME CHANGE:	20040408

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Aequitas Capital Management Inc.
		CENTRAL INDEX KEY:			0001360663
		STATE OF INCORPORATION:			OR
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26226
		FILM NUMBER:		101077155

	BUSINESS ADDRESS:	
		STREET 1:		805 SW BROADWAY, SUITE 560
		CITY:			PORTLAND
		STATE:			OR
		ZIP:			97205
		BUSINESS PHONE:		503-419-3500

	MAIL ADDRESS:	
		STREET 1:		805 SW BROADWAY, SUITE 560
		CITY:			PORTLAND
		STATE:			OR
		ZIP:			97205

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Aequitas Management LLC
		CENTRAL INDEX KEY:			0001455890
		STATE OF INCORPORATION:			OR
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26226
		FILM NUMBER:		101077158

	BUSINESS ADDRESS:	
		STREET 1:		5300 MEADOWS ROAD
		STREET 2:		SUITE 400
		CITY:			LAKE OSWEGO
		STATE:			OR
		ZIP:			97035
		BUSINESS PHONE:		(503) 419-3500

	MAIL ADDRESS:	
		STREET 1:		5300 MEADOWS ROAD
		STREET 2:		SUITE 400
		CITY:			LAKE OSWEGO
		STATE:			OR
		ZIP:			97035

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Aequitas Holdings, LLC
		CENTRAL INDEX KEY:			0001501291
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26226
		FILM NUMBER:		101077157

	BUSINESS ADDRESS:	
		STREET 1:		5300 MEADOWS ROAD, SUITE 400
		CITY:			LAKE OSWEGO
		STATE:			OR
		ZIP:			97305
		BUSINESS PHONE:		(503) 419-3500

	MAIL ADDRESS:	
		STREET 1:		5300 MEADOWS ROAD, SUITE 400
		CITY:			LAKE OSWEGO
		STATE:			OR
		ZIP:			97305
</SEC-HEADER>
<DOCUMENT>
<TYPE>4/A
<SEQUENCE>1
<FILENAME>v196909_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4/A</documentType>

    <periodOfReport>2009-12-23</periodOfReport>

    <dateOfOriginalSubmission>2009-03-26</dateOfOriginalSubmission>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000944947</issuerCik>
        <issuerName>EnergyConnect Group Inc</issuerName>
        <issuerTradingSymbol>ECNG.OB</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001455890</rptOwnerCik>
            <rptOwnerName>Aequitas Management LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>5300 MEADOWS ROAD</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 400</rptOwnerStreet2>
            <rptOwnerCity>LAKE OSWEGO</rptOwnerCity>
            <rptOwnerState>OR</rptOwnerState>
            <rptOwnerZipCode>97035</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001501291</rptOwnerCik>
            <rptOwnerName>Aequitas Holdings, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>5300 MEADOWS ROAD, SUITE 400</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>LAKE OSWEGO</rptOwnerCity>
            <rptOwnerState>OR</rptOwnerState>
            <rptOwnerZipCode>97305</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001286568</rptOwnerCik>
            <rptOwnerName>Aequitas Commercial Finance, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>5300 MEADOWS ROAD</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 400</rptOwnerStreet2>
            <rptOwnerCity>LAKE OSWEGO</rptOwnerCity>
            <rptOwnerState>OR</rptOwnerState>
            <rptOwnerZipCode>97035</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001360663</rptOwnerCik>
            <rptOwnerName>Aequitas Capital Management Inc.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>5300 MEADOWS ROAD</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 400</rptOwnerStreet2>
            <rptOwnerCity>PORTLAND</rptOwnerCity>
            <rptOwnerState>OR</rptOwnerState>
            <rptOwnerZipCode>97035</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Convertible Secured Promissory Note</value>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>.0906</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2009-02-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionTotalValue>
                    <value>3307279.96</value>
                </transactionTotalValue>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2009-02-26</value>
            </exerciseDate>
            <expirationDate>
                <value>2012-02-24</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>36504194</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>36504194</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Effective December 23, 2009, the issuer executed a First Amendment to Business Loan Agreement and Convertible Secured
 Promissory Note (the &quot;Note Amendment&quot;) amending the Convertible Secured Promissory Note (the &quot;Note&quot;) and related Business
 Loan Agreement, both dated February 26, 2009, reported on the Form 4 filed by the reporting persons on March 26, 2009 (the
 &quot;Original Form 4&quot;).  Among other things, the Note Amendment:  (a) extended the maturity date of the Note to February 24,
 2012, and (b) made the entire outstanding principal amount of, and all accrued and unpaid interest due under, the Note
 convertible in shares of common stock of the issuer.  Concurrently with the filing of this amendment to the Original Form 4
 (this &quot;Amendment&quot;), the reporting persons are filing a Form 4 to report that Aequitas Commercial Finance, LLC (&quot;ACF&quot;)
 partially converted the Note on September 8, 2010. [cont in FN2]</footnote>
        <footnote id="F2">[cont from FN1] This Amendment reports information with respect to the Note as of immediately prior to such conversion.</footnote>
        <footnote id="F3">ACF is the direct beneficial owner of the securities underlying the Note.  As of the date of this Amendment, ACF also owns
 directly 2,914,431 shares of common stock of the issuer and indirectly, through its wholly-owned subsidiary, Christenson
 Leasing Company, 400,000 shares of common stock of the issuer.  Each of Aequitas Management, LLC (&quot;AML&quot;), Aequitas Holdings,
 LLC (&quot;Holdings&quot;) and Aequitas Capital Management, Inc. (&quot;ACM&quot;) may be deemed to be the indirect beneficial owner of the
 securities of the issuer that ACF owns. The reporting persons disclaim beneficial ownership of the reported securities and
 the other securities described in this Amendment except to the extent of their pecuniary interest, if any, therein.</footnote>
        <footnote id="F4">As of the date of this Amendment, ACM is the direct beneficial owner of 267,946 shares of common stock of the issuer and
 warrants to purchase an additional 652,767 shares of common stock of the issuer.  AML and Holdings may be deemed to be the
 indirect beneficial owner of the securities of the issuer that ACM directly owns.  The reporting persons disclaim beneficial
 ownership of the reported securities and the other securities described in this Amendment except to the extent of their
 pecuniary interest, if any, therein.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Robert J. Jesenik, President</signatureName>
        <signatureDate>2010-09-16</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Robert J. Jesenik, President</signatureName>
        <signatureDate>2010-09-16</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Robert J. Jesenik, Chief Executive Officer of Aequitas Capital Management, Inc., the Manager Of Aequitas Commercial Finance, LLC</signatureName>
        <signatureDate>2010-09-16</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Robert J. Jesenik, Chief Executive Officer</signatureName>
        <signatureDate>2010-09-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----