**Exhibit        10.67**

**AGREEMENT        TO EXCHANGE**

**SERIES        I PREFERRED STOCK**

**FOR        SECURED CONVERTIBLE NOTE**

**THIS        AGREEMENT**
**STRATUS        SERVICES GROUP, INC.**

**WITNESSETH:**

**WHEREAS,**

**WHEREAS**

**WHEREAS**

**NOW,        THEREFORE,**

| 1. | **Exchange****.**                  Pinnacle’s 21,531 shares of Series I Preferred Stock, including all unpaid                  dividends and penalties due thereunder, will be exchanged as of                  December                  28, 2005 for the Secured Note. Thus, concurrently with the execution                  of                  this Agreement, Pinnacle shall deliver to the Company the stock                  certificates evidencing the Series I shares duly endorsed |
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**1**

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| 2. | **Related                  Agreements****.**                  Concurrently with the execution of this Agreement, the Company                  shall                  execute and deliver to Pinnacle a Pledge and Security Agreement,                  UCC-1                  financing statements and a confession of judgment, all in the form                  attached hereto, to secure the Company’s obligations under the Secured                  Note. Subject to the parties entering into an separate agreement                  with                  regard to the Series E Preferred providing for 35% of the exchanged                  value                  into the secondary offering, the parties also shall exchange mutual                  releases, in the form attached hereto, with respect to actions                  preceding                  the date of this Agreement.. |
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| 3. | **Pinnacle’s                  Representations, Warranties, Etc.; Access To Information; Independent                  Investigation**.                  Pinnacle represents and warrants to, and covenants and agrees with,                  the                  Company as follows: |
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|   | a. | Pinnacle                  is exchanging the Series I Preferred Stock and accrued dividends                  and                  penalties thereon for the Secured Note for its own account for                  investment                  only and not with a view towards the public sale or distribution                  thereof                  and not with a view to or for sale in connection with any distribution                  thereof. |
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|   | b. | Pinnacle                  is (i) an "accredited investor" as that term is defined in Rule                  501 of the                  General Rules and Regulations under the 1933 Act by reason of Rule                  501(a)(3), and (ii) experienced in making investments of the kind                  described in this Agreement and the related documents, (iii) able,                  by                  reason of the business and financial experience of its officers                  (if an                  entity) and professional advisors (who are not affiliated with                  or                  compensated in any way by the Company or any of its affiliates                  or selling                  agents), |
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**2**

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|   | c. | Pinnacle                  understands that the Series I Preferred Stock, plus accrued dividends                  and                  penalties are being exchanged for the Secured Note in reliance                  on specific                  exemptions from the registration requirements of United States                  federal and                  state securities laws and that the Company is relying upon the                  truth and                  accuracy of, and Pinnacle's compliance with, the representations,                  warranties, agreements, acknowledgements and understandings of                  Pinnacle                  set forth herein in order to determine the availability of such                  exemptions                  and the eligibility of Pinnacle to acquire the Secured                  Note. |
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|   | e. | Pinnacle                  understands that no United States federal or state agency or any                  other                  government or governmental agency has passed on or made any recommendation                  or endorsement of the Secured Note. |
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|   | f. | This                  Agreement has been duly and validly authorized, executed and delivered                  on                  behalf of Pinnacle and is a valid and binding agreement of Pinnacle                  enforceable in accordance with its terms, subject as to enforceability                  to                  general principles of equity |
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**3**

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**Company        Representations, Etc**

|   | a. | Reporting                  Company Status**.**                  The Company is a corporation duly organized, validly existing and                  in good                  standing under the laws of the State of Delaware, and has the requisite                  corporate power to own its properties and to carry on its business                  as now                  being conducted. The Company is duly qualified as a foreign corporation                  to                  do business and is in good standing in each jurisdiction where                  the nature                  of the business conducted or property owned by it makes such qualification                  necessary other than those jurisdictions in which the failure to                  so                  qualify would not have a material and adverse effect on the business,                  operations, properties, prospects or condition (financial or otherwise)                  of                  the Company. The Company has registered its common stock pursuant                  to                  Section 12 of the Securities Exchange Act of 1934, as amended (the                  "1934                  Act"), and the Common Stock is listed and traded on the OTC Bulletin                  Board                  Market. |
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|   | b. | Authorized                  Shares**.**                  The shares of common stock issuable upon conversion of the Secured                  Note                  have been duly authorized and, when issued to Pinnacle, will be                  duly and                  validly issued, fully paid and non-assessable and will not subject                  the                  holder thereof to personal liability by reason of being such                  holder. |
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|   | c. | Conversion                  Agreement**.**                  This Agreement and the transactions contemplated hereby, have been                  duly                  and validly authorized by the Company. This Agreement has been                  duly                  executed and delivered by the Company and is a valid and binding                  agreement |
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|   | d. | Non-contravention**.**The                  execution and delivery of this Agreement by the Company, the issuance                  of                  the Secured Note, and the consummation by the Company of the other                  transactions contemplated by this Agreement do not and will not                  conflict                  with or result in a breach by the Company of any of the terms or                  provisions of, or constitute a default under (i) the articles of                  incorporation or by-laws of the Company, (ii) any indenture, mortgage,                  deed of trust, or other material agreement or instrument to which                  the                  Company is a party or by which it or any of its properties or assets                  are                  bound, (iii) to its knowledge, any existing applicable law, rule,                  or                  regulation or any applicable decree, judgment, or (iv) to its knowledge,                  order of any court, United States federal or state regulatory body,                  administrative agency, or other governmental body having jurisdiction                  over                  the Company or any of its properties or assets, except such conflict,                  breach or default which would not have a material adverse effect                  on the                  transactions contemplated herein. The Company is not in violation                  of any                  material laws, governmental orders, rules, regulations or ordinances                  to                  which its property, real, personal, mixed, tangible or intangible,                  or its                  businesses related to such properties, are                  subject. |
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|   | e. | Approvals**.**                  No                  authorization, approval or consent of any court, governmental body,                  regulatory agency, self-regulatory organization, or stock exchange                  or                  market is required to be obtained by the Company for the issuance                  and sale                  of the Secured Note to Pinnacle as contemplated by this Agreement,                  except                  such authorizations, approvals and consents that have been                  obtained. |
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**5**

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|   | f. | SEC                  Documents, Financial Statements**.**                  The common stock of the Company is registered pursuant to Section                  12(g) of                  the 1934 Act and the Company has filed all reports, schedules,                  forms,                  statements and other documents required to be filed by it with                  the SEC                  pursuant to the reporting requirements of the Exchange Act, including                  material filed pursuant to Section 13(a) or 15(d (all of the foregoing                  including filings incorporated by reference therein being referred                  to                  herein as the "SEC Documents"), except that the Company has filed                  a Form                  12b-25 with respect to its Annual Report on Form 10-K that was                  due for                  filing with the SEC on or about December 31, 2005. The Company,                  through                  its agent, has delivered to Pinnacle true and complete copies of                  the SEC                  Documents (except for exhibits and incorporated documents). The                  Company                  has not provided to Pinnacle any information which, according to                  applicable law, rule or regulation, should have been disclosed                  publicly by                  the Company but which has not been so disclosed, other than with                  respect                  to the transactions contemplated by this                  Agreement. |
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**6**

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|   | g. | Absence                  of Certain Changes**.**                  Since September 30, 2005, there has been no material adverse change                  and no                  material adverse development in the business, properties, operations,                  financial condition, or results of operations of the Company, except                  as                  set forth in the Company’s SEC                  Documents. |
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|   | h. | Full                  Disclosure**.**                  There is no fact known to the Company (other than general economic                  conditions known to the public generally) or as disclosed in the                  documents                  referred to in Section 4(g), that has not been disclosed in writing                  to                  Pinnacle that (i) would reasonably be expected to have a material                  adverse                  effect on the business or financial condition of the Company or                  (ii) would                  reasonably be expected to materially and adversely affect the ability                  of                  the Company to perform its obligations pursuant to this                  Agreement. |
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**7**

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|   | 5. | **Certain                  Covenants And Acknowledgments****.** |
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|   | a. | Filings.                  The Company undertakes and agrees to make all necessary filings                  in                  connection with the exchange effected hereby under any United States                  laws                  and regulations, or by any domestic securities exchange or trading                  market,                  and to provide a copy thereof to Pinnacle promptly after such                  filing. |
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|   | b. | Reporting                  Status.                  So long as Pinnacle beneficially owns the Secured Note, the Company                  shall                  file all reports required to be filed with the SEC pursuant to                  Section 13                  or 15(d) of the 1934 Act, and the Company shall not terminate its                  status                  as an issuer required to file reports under the 1934 Act even if                  the 1934                  Act or the rules and regulations thereunder would permit such                  termination. |
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**Governing        Law: Miscellaneous**
**.**

**8**

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| 7. | **Notices****.**                  Any notice required or permitted hereunder shall be given in writing                  (unless otherwise specified herein) and shall be deemed effectively                  given,                  (i) on the date delivered, (a) by personal delivery, or (b) if                  advance                  copy is given by fax, (ii) seven business days after deposit in                  the United                  States Postal Service by regular or certified mail, or (iii) three                  business days mailing by international express courier, with postage                  and                  fees prepaid, addressed to each of the other parties thereunto                  entitled at                  the following addresses, or at such other addresses as a party                  may                  designate by ten days advance written notice to each of the other                  parties                  hereto. |
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**COMPANY**

**PINNACLE**

**Successors        And Assigns**
**.**

**9**

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**IN        WITNESS WHEREOF,**

**STRATUS        SERVICES GROUP, INC.**

**PINNACLE        INVESTMENT PARTNERS, L.P.**

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