-----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,
 LAJGdAUZ4WGkiKu9jfXIRQDQDJYWMdhXzhuLabFzYePVwF/hHTLuoZkuKToPakA5
 xfm9TCT+sE9bdgeWsUQa/g==

<SEC-DOCUMENT>0001200952-09-000139.txt : 20090326
<SEC-HEADER>0001200952-09-000139.hdr.sgml : 20090326
<ACCEPTANCE-DATETIME>20090326164916
ACCESSION NUMBER:		0001200952-09-000139
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090226
FILED AS OF DATE:		20090326
DATE AS OF CHANGE:		20090326

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			JMW GROUP LLC
		CENTRAL INDEX KEY:			0001286566
		STATE OF INCORPORATION:			OR

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26226
		FILM NUMBER:		09707167

	MAIL ADDRESS:	
		STREET 1:		1631 NW THURMAN STREET
		CITY:			PORTLAND
		STATE:			OR
		ZIP:			97209

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
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26226
		FILM NUMBER:		09707169

	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
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26226
		FILM NUMBER:		09707168

	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
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26226
		FILM NUMBER:		09707170

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>d90325am_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2009-02-26</periodOfReport>

    <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>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>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>0001286566</rptOwnerCik>
            <rptOwnerName>JMW GROUP 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>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Convertible Secured Promissory Note</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.0906</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2009-02-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>36791754</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.0906</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2009-02-26</value>
            </exerciseDate>
            <expirationDate>
                <value>2011-01-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>36791754</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>41153036</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Aequitas Commercial Finance, LLC (&quot;ACF&quot;) is the direct beneficial owner of the securities underlying the Convertible Secured
 Promissory Note.  As of the date of this Form 4, ACF also owns directly 1,951,431 shares of common stock of the issuer and
 indirectly, through its wholly-owned subsidiary, Christenson Leasing Company, 400,000 shares of the issuer.  Aequitas
 Management, LLC (&quot;AML&quot;) may be deemed to be the indirect beneficial owner of the securities of the issuer that ACF owns. The
 reporting person disclaims beneficial ownership of the reported securities and the other securities described in this Form 4
 except to the extent of their pecuniary interest, if any, therein.</footnote>
        <footnote id="F2">As of the date of this Form 4, Aequitas Capital Management, Inc. (&quot;ACM&quot;) 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.  As of the
 date of this Form 4, JMW Group, LLC (&quot;JMW&quot;) is the direct beneficial owner of 963,000 shares of common stock of the issuer
 and warrants to purchase an additional 126,138 shares of common stock of the issuer.  AML may be deemed to be the indirect
 beneficial owner of the securities of the issuer that ACM and JMW directly own, and ACM may be deemed to be the indirect
 beneficial owner of the securities of the issuer that JMW directly owns.  The reporting person disclaims beneficial
 ownership of the reported securities and the other securities described in this Form 4 except to the extent of their
 pecuniary interest, if any, therein.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Robert J. Jesenik</signatureName>
        <signatureDate>2009-03-20</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Robert J. Jesenik</signatureName>
        <signatureDate>2009-03-20</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Robert J. Jesenik</signatureName>
        <signatureDate>2009-03-20</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Robert J. Jesenik</signatureName>
        <signatureDate>2009-03-20</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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