SEC FORM 4

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^*

PEQUOT CAPITAL MANAGEMENT INC

(Last)

(First)

(Middle)

500 NYALA FARM ROAD

(Street)

WESTPORT

06880

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
ADUROMED INDUSTRIES, INC. [ ADRM ]

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

Director		10% Owner
Officer (give title below)	X	Other (specify below)
		See Footnote 1

3. Date of Earliest Transaction (Month/Day/Year)
07/11/2008

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

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)
Common Stock	07/11/2008		P		18,353,644⁽²⁾	A	$182,000	18,353,644⁽²⁾	I⁽²⁾	Investment Advisor⁽¹⁾

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)
Series A Preferred Stock⁽³⁾	$0.3175	07/11/2008		J			4,026,665⁽²⁾⁽³⁾	01/24/2006	⁽³⁾	Common Stock	4,026,665⁽²⁾⁽³⁾	⁽³⁾	0⁽²⁾⁽³⁾	I⁽²⁾	Investment Advisor⁽¹⁾
Series B Preferred Stock⁽³⁾	$0.3175	07/11/2008		J			10,144,389⁽²⁾⁽³⁾	01/24/2006	⁽³⁾	Common Stock	10,144,389⁽²⁾⁽³⁾	⁽³⁾	0⁽²⁾⁽³⁾	I⁽²⁾	Investment Advisor⁽¹⁾
Common Stock Warrant (right to buy)⁽⁴⁾	$0.3788	07/11/2008		J			4,026,665⁽²⁾⁽⁴⁾	01/24/2006	09/30/2012	Common Stock	4,026,665⁽²⁾⁽⁴⁾	⁽⁴⁾	0⁽²⁾⁽⁴⁾	I⁽²⁾	Investment Advisor⁽¹⁾
Common Stock Warrant (right to buy)⁽⁴⁾	$0.025	07/11/2008		J		10,229,299⁽²⁾⁽⁴⁾		07/11/2008	09/30/2012	Common Stock	10,229,299⁽²⁾⁽⁴⁾	⁽⁴⁾	10,229,299⁽²⁾⁽⁴⁾	I⁽²⁾	Investment Advisor⁽¹⁾
Common Stock Warrant (right to buy)⁽⁵⁾	$0.3788	07/11/2008		J			10,144,389⁽²⁾⁽⁵⁾	01/24/2006	01/24/2013	Common Stock	10,144,389⁽²⁾⁽⁵⁾	⁽⁵⁾	0⁽²⁾⁽⁵⁾	I⁽²⁾	Investment Advisor⁽¹⁾
Common Stock Warrant (right to buy)⁽⁵⁾	$0.025	07/11/2008		J		25,770,702⁽²⁾⁽⁵⁾		07/11/2008	01/24/2013	Common Stock	25,770,702⁽²⁾⁽⁵⁾	⁽⁵⁾	25,770,702⁽²⁾⁽⁵⁾	I⁽²⁾	Investment Advisor⁽¹⁾
Common Stock Warrant (right to buy)⁽⁶⁾	$0.025	07/11/2008		P		13,313,644⁽²⁾⁽⁶⁾		07/11/2008⁽⁶⁾	07/10/2013⁽⁶⁾	Common Stock	13,313,644⁽²⁾⁽⁶⁾	⁽⁶⁾	13,313,644⁽²⁾⁽⁶⁾	I⁽²⁾	Investment Advisor⁽¹⁾

Explanation of Responses:

1. Pequot Capital Management, Inc., a Connecticut corporation ("Pequot"), disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that Pequot is, for the purposes of Section 16 of the Exchange Act or otherwise, the beneficial owner of such securities.

2. Pequot disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that Pequot is, for the purposes of Section 16 of the Exchange Act or otherwise, the beneficial owner of such securities.

3. Pequot surrendered its shares of Preferred Stock, which shares will be cancelled, and forfeited its right to receive accumulated dividends payable on its Preferred Stock as of June 30, 2008 and liquidated damages in an aggregate amount of $690,823.

4. On July 11, 2008, the warrants held by Pequot to purchase 4,026,665 shares of Common Stock at an exercise price of $0.37883 per share, exercisable as of January 24, 2006 and previously disclosed on Form 4, were amended to become warrants to purchase 10,229,299 shares of Common Stock at an exercise price of $0.025 per share, subject to adjustment for certain dilutive equity issuances and for stock splits, stock dividends, mergers, recapitalizations, reorganizations and other similar events. The amended warrants are exercisable as of July 11, 2008 and will expire at the close of business on September 30, 2012.

5. On July 11, 2008, the warrants held by Pequot to purchase 10,144,389 shares of Common Stock at an exercise price of $0.37883 per share, exercisable as of January 24, 2006 and previously disclosed on Form 4, were amended to become warrants to purchase 25,770,702 shares of Common Stock at an exercise price of $0.025 per share, subject to adjustment for certain dilutive equity issuances and for stock splits, stock dividends, mergers, recapitalizations, reorganizations and other similar events. The amended warrants are exercisable as of July 11, 2008 and will expire at the close of business on January 24, 2013.

6. In connection with the acquisition of 18,353,644 shares of Common Stock on July 11, 2008, Pequot also received warrants to purchase 13,313,644 shares of Common Stock, at an exercise price of $0.025 per share. The warrants are exercisable as of July 11, 2008 and will expire at the close of business on July 10, 2013.

Remarks:

	/s/ Aryeh Davis - GC and Secretary, Pequot Capital Management, Inc.	07/15/2008
	** 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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