SEC FORM 4/A

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

PISANO LEONARD

(Last)

(First)

(Middle)

1280 LANDMEIER RD

(Street)

ELK GROVE VILLAGE

60007

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
ELECTRIC CITY CORP [ ELC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	COO

3. Date of Earliest Transaction (Month/Day/Year)
05/03/2005

4. If Amendment, Date of Original Filed (Month/Day/Year)
05/05/2005

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Electric City Corp. Common Stock	05/03/2005		A		1,288,113⁽¹⁾	A	$1⁽²⁾	1,288,113⁽¹⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Options to purchase Electric City Corp. Common Stock	$1	05/03/2005		A		75,000		05/03/2005	05/03/2015	Electric City Corp. Common Stock	75,000	$1	75,000	D
Options to purchase Electric City Corp. Common Stock	$1	05/03/2005		A		133,334		05/03/2006	05/03/2015	Electric City Corp. Common Stock	133,334	$1	208,334	D
Options to purchase Electric City Corp. Common Stock	$1	05/03/2005		A		133,333		05/03/2007	05/03/2015	Electric City Corp. Common Stock	133,333	$1	341,667	D
Options to purchase Electric City Corp. Common Stock	$1	05/03/2005		A		133,333		05/03/2008	05/03/2015	Electric City Corp. Common Stock	133,333	$1	475,000	D

Explanation of Responses:

1. This is an amendment to the Form 4 filed on May 5th, to report a change in the number of shares received by Mr. Pisano as a result of the sale of Maximum Performance Group, Inc. and to include the shares held in escrow.

2. Shares received as partial consideration for the sale of Maximum Performance Group, Inc. For the purpose of the acquisition the stock was valued as $1.00 per share. 667,606 shares are being held in escrow to be released at the rate of 202 shares per $1,000 in revenue earned by Maximum Performance Group, Inc. in excess of $5,500,000 during the two year period from July 1, 2005 through June 30, 2007.

	Tammy Koeller, by power of attorney	11/16/2005
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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