X0303 4 2011-06-27 0 0001084031 INTEGRATED ENVIRONMENTAL TECHNOLOGIES, LTD. IEVM 0001474173 McAdoo Capital, Inc. 635 MADISON AVENUE 15TH FLOOR NEW YORK NY 10022 0 0 1 0 0001474427 McAdoo Zachary C/O MCADOO CAPITAL, INC. 635 MADISON AVENUE, 15TH FLOOR NEW YORK NY 10022 0 0 1 0 0001452690 Zanett Opportunity Fund, Ltd. C/O APPLEBY SPURLING, CANON'S COURT 22 VICTORIA ST. PO BOX HM 1179 HAMILTON D0 HM 1179 BERMUDA 0 0 1 0 8% Convertible Debenture 0.1 2011-06-27 4 P 0 361375 376125 A 2011-06-27 Common Stock 3613750 361375 I By Zanett Opportunity Fund, Ltd. McAdoo Capital, Inc. ("McAdoo Capital") may convert the debenture at any time to common stock of the issuer at $0.10 per share. If converted, McAdoo Capital will receive 3,613,750 additional shares. Prior to the reported transaction, the issuer owed Zanett Opportunity Fund, Ltd. (the "Fund") $200,000 of principal and $11,375 of interest on a promissory note dated January 5, 2011 (the "Promissory Note"), and $14,750 in related fees ("Related Fees"). The purchase price of the debenture was paid as follows: $150,000 was paid in cash, $211,375 was paid through delivery and cancellation of the Promissory Note and $14,750 was deemed payment of the Related Fees. The Fund owns the reported securities directly. McAdoo Capital may be deemed to have an indirect interest in these securities as investment manager of the Fund. Zachary McAdoo may be deemed to have an indirect interest in these securities in his capacity as President and owner of McAdoo Capital. Both McAdoo Capital and Mr. McAdoo disclaim beneficial ownership of the reported securities except to the extent of any pecuniary interest therein, and the reporting of these securities by them shall not be deemed to be an admission that McAdoo Capital or Mr. McAdoo have beneficial ownership in such securities for purposes of Section 16 of the Exchange Act of 1934, or for any other purposes. /s/ Zachary McAdoo, President, McAdoo Capital, Inc. 2011-07-23 /s/ Zachary McAdoo 2011-07-23 /s/ Zachary McAdoo, on behalf of Zanett Opportunity Fund, Ltd. 2011-07-23