----

----

----

| Delaware                                                       |   | 22-3586087                                |
|----------------------------------------------------------------|--------|-------------------------------------------|
| (State or other jurisdiction of incorporation or organization) |   | (I.R.S. Employer Identification No.) |
|                                                           |   |                                      |
| 87 Fairfield Rd., Fairfield, New Jersey                        |   | 07004                                     |
| (Address of principal executive offices)                       |   | Zip code                                  |
|                                                           |   |                                      |
| Issuer’s telephone number: (732) 465-9300 Ext. 0         |   |                                      |
|                                                           |   |                                      |
| Securities registered under Section 12(b) of the Exchange Act: |
|                                                           |   |                                      |
| Title of each class                                            |   | Name of each exchange on which registered |
|                                                           |   |                                      |
| None                                                           |   |                                      |
|                                                           |   |                                      |
| Securities registered under Section 12(g) of the Exchange Act: |

----

| Large accelerated filer  oNon-Accelerated filer   o | Accelerated filer     oSmaller reporting company   x |
|--------------------------------------------------------------------|-----------------------------------------------------------------------------------------|

----

----

ARKADOS GROUP, INC.

| Item                                                                               | Page   |
|------------------------------------------------------------------------------------|--------|
|                                                                               |   |
|                                                                               |   |
| PART II                                                                            |   |
|                                                                               |   |
| ITEM 9A:Controls and Procedures                                                    | 5      |
|                                                                               |   |
|                                                                               |   |
| PART III                                                                           |   |
|                                                                               |   |
| ITEM 10: Directors, Executive Officers and Corporate Governance                    | 7      |
| ITEM 11: Executive Compensation                                                    | 10     |
| ITEM 13: Certain Relationships and Related Transactions, and Director Independence | 17     |
| ITEM 14: Principal Accountant Fees and Services                                    | 17     |
|                                                                               |   |
|                                                                               |   |
| PART IV                                                                            |   |
|                                                                               |   |
| ITEM 15: Exhibits and Financial Statement Schedules                                | 19     |
|                                                                               |   |
| Signatures                                                                         | 27     |

----

----

| ITEM 9A. | CONTROLS AND PROCEDURES |
|----------|-------------------------|

|   | (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made in accordance with authorizations of management and directors of the company; and |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the company's assets that could have a material effect on the financial statements. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

| ITEM 10. | DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS AND CORPORATE GOVERNANCE; COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT |
|----------|------------------------------------------------------------------------------------------------------------------------------------------|

| Name                      | Age    | Position                                         |
|---------------------------|--------|--------------------------------------------------|
|                      |   |                                             |
| Andreas Typaldos**        | 65     | Chairman                                         |
| William Carson (1)(2)     | 63     | Director                                         |
| Gennaro Vendome (1)(2)(3) | 63     | Director                                         |
| Harris Cohen (1)(3)       | 44     | Director                                         |
| Oleg Logvinov             | 47     | Director, President and Chief Executive Officer  |
| Larry Crawford            | 62     | Chief Financial Officer, Secretary and Treasurer |
| Grant Ogata               | 56     | Executive Vice President, Worldwide Operations   |

|   | (1)  | Independent Director as determined in good faith by the Board of Directors to not have a material interestadverse to the Company or which is inconsistent with the standards set forth in the charter of the boardcommittee or committees on which such director serves. |
|--------|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2)  | Member of the Audit Committee. |
|--------|-----------|--------------------------------|

|   | (3)  | Member of the Compensation Committee. |
|--------|-----------|---------------------------------------|

----

----

----

| Name/ Principal Position                                         |   | FiscalYear Ended  May 31, |   | Salary  |    |   | DeferredSalary Paid |    |   | Option Award |   |    | All OtherCompensation |   |   | TotalCompensation |   |
|------------------------------------------------------------------|--------|---------------------------|--------|---------|---------|--------|---------------------|---------|--------|--------------|--------|---------|-----------------------|--------|--------|-------------------|--------|
| Oleg Logvinov (1)President, Chief Executive Officer and Director |   | 2010                      |   | $       | 300,000 |   |                | $       | 0      |         |   |    | 0                     |   |   | $                 | 11,734 |   |   | $ | 311,734 |   |
|                                                             | 2009   |                      | $      | 300,000 |    |   | $                   | 37,500  |   |         | $      | 0       |                  |   | $      | 0                 |   |   | $ | 337,500 |   |
|                                                             | 2008   |                      | $      | 300,000 |    |   | $                   | 0       |   |         | $      | 407,912 |                  |   | $      | 65,333            |   |   | $ | 773,245 |   |
|                                                             |   |                      |   |    |    |   |                |    |   |         |   |    |                  |   |   |              |   |   |   |   |   |   |
| Larry Crawford(4)                                                |   | 2010                      |   | $       | 200,000 |   |                | $       | 0      |         |   | $       | 0                     |   |   | $                 | 0      |   |   | $ | 200,000 |   |
| Chief Financial Officer(current)                                 |   | 2009                      |   | $       | 133,333 |   |                | $       | 0      |         |   | $       | 337,800               |   |   | $                 | 0      |   |   | $ | 471,133 |   |
| Barbara Kane-Burke(2)Chief Financial Officer (former)            |   |                      |   |    |    |   |                |    |   |         |   |    |                  |   |   |              |   |   |   |   |   |   |
|                                                             | 2009   |                      | $      | 45,000  |    |   | $                   | 136,750 |   |         | $      |    |                  |   | $      | 15,000            |   |   | $ | 197,750 |   |
|                                                             | 2008   |                      | $      | 135,000 |    |   | $                   | 0       |   |         | $      | 45,000  |                  |   | $      | 0                 |   |   | $ | 180,000 |   |
|                                                             |   |                      |   |    |    |   |                |    |   |         |   |    |                  |   |   |              |   |   |   |   |   |   |
| Grant Ogata(3)Executive Vice President,Worldwide Operations      |   | 2010                      |   | $       | 200,000 |   |                | $       | 0      |         |   | $       | 0                     |   |   | $                 | 0      |   |   | $ | 200,000 |   |
|                                                             | 2009   |                      | $      | 200,000 |    |   | $                   | 62,497  |   |         | $      | 147,500 |                  |   | $      | 0                 |   |   | $ | 409,997 |   |
|                                                             | 2008   |                      | $      | 200,000 |    |   | $                   | 0       |   |         | $      | 101,250 |                  |   | $      | 0                 |   |   | $ | 301,250 |   |

| (1) | Mr. Logvinov earned a $65,333 bonus in fiscal 2008. $349, 958 of Mr. Logvinov’s 2008 earned salary and bonus was deferred at May 31, 2008. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Ms. Kane-Burke joined Arkados in January 2007. $99,250 of Ms. Kane-Burke’s 2008 earned salary and bonus was deferred at May 31, 2008. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------|

----

| (3) | Mr. Ogata joined Arkados as an employee in April 2007 and worked for Arkados as a consultant from September 2006 through March 2007. At May 31, 2010, total salary owed to Mr. Ogata was $499,169; in addition, Mr. Ogata was owed $14,679  by the Company for business related expenses. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4)  | Options to purchase 1,800,000 shares were granted to Mr. Crawford on October 1, 2008 (in the fiscal year ended May 31, 2009)  in accordance with the terms of his three year employment. Of the 1,800,000 options 600,000 options have an exercise price of $0.22 per share and vest at the rate of 16,666 per month over the term of Mr. Crawford’s employment agreement and 1,200,000 options have an exercise price of $0.25 and vest at the rate of 33,333 per month over the term, if the balance of earned but unpaid salary due to Mr. Crawford equal or exceeds $16,667 on each vesting date. To determine the stock compensation expense of this transaction and the value of the options to include in the table, the Company, in accordance with FASB 123R, measured the value of the option grant as at the date of grant using the Black Scholes method and the assumptions set for the in the Notes to the Consolidated Financial Statements. The 600,000 options with an exercise price of $0.22 had a Black Scholes Grant Date Value of $0.1890 per option and the 1,200,000 options with an exercise price of $0.25 had a Black Scholes Grant Date Value of $0.1870 per option resulting in a combined stock compensation expense in the year fiscal year ended of  $377,800. |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| GRANTS OF PLAN-BASED AWARDS |
|-----------------------------|

| Name   |   | Grant Date |   | All other Option Awards: Number of Securities  Underlying  Options (#) |   | Exercise or Base Price of  Option Awards ($/Sh) |   | Grant Date Fair Value of Stock and Option Awards ($) |   |
|--------|--------|-----------------|--------|--------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------|--------|---------------------------------------------------------------------|--------|
|   |   |            |   |                                                                                       |   |                                                      |   |                                                                |   |

| Oleg Logvinov  | 2/6/2009   |   | 1,920,000 |   | (1)    |   | $      | 0.15   |   |   |   | $      | 0       |   |   |
|----------------|------------|--------|-----------|--------|--------|--------|--------|--------|--------|--------|--------|--------|---------|--------|--------|
|           |       |   |      |   |   |   |   |   |   |   |   |   |    |   |   |
|           |       |   |      |   |   |   |   |   |   |   |   |   |    |   |   |
| Larry Crawford | 10/1/2008  |   | 600,000   |   | (2)    |   | $      | 0.22   |   |   |   | $      | 113,400 |   |   |
|           | 10/1/2008  |   | 1,200,000 |   | (2)    |   | $      | 0.25   |   |   |   | $      | 224,000 |   |   |
|           |       |   |      |   |   |   |   |   |   |   |   |   |    |   |   |
| Grant Ogata    | 2/6/2009   |   | 1,162,500 |   | (3)    |   | $      | 0.15   |   |   |   | $      | 0       |   |   |
|           | 2/6/2009   |   | 250,000   |   | (3)    |   | $      | 0.225  |   |   |   | $      | 37,500  |   |   |
|           | 12/15/2008 |   | 515,464   |   | (3)    |   | $      | 0.15   |   |   |   | $      | 110,000 |   |   |

----

| OPTION EXERCISES AND STOCK VESTED IN 2010 |
|-------------------------------------------|
|                                 |   | Option Awards |   | Stock Awards |   |   |
| Name                                      |   | Number of Shares Acquired on Exercise (#) |   | Value Realized on Exercise ($) |   | Number of Shares Acquired on Vesting (#) |   | Value Realized on Vesting($) |   |   |
|  Oleg Logvinov                       |   |  920,000 |   | $      18,400.00 |   | 0 |   | $    0 |   |   |

|               | Number ofsecuritiesunderlyingunexercisedoptions (#)Exercisable |   | EquityIncentivePlan awards:Number of securities Underlying unexercisedUnearnedoptions (#) |   | Equity IncentivePlan awards:Number ofsecuritiesUnderlyingunexercisedUnearnedOptions (#) |    | Option Exercise Price ($) |   | OptionExpirationDate |   |
|--------------------|----------------------------------------------------------------|--------|-------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------|---------|---------------------------|--------|----------------------|--------|
| Oleg Logvinov      |  1,920,000                                                | (1)    |                                                                                      |   |                                                                                    |    |                      | $      | 0.15                 |   | 2/5/2016 |   |
|               |                                                           |   |                                                                                      |   |                                                                                    |    |                      |   |                 |   |   |   |
|               |                                                           |   |                                                                                      |   |                                                                                    |    |                      |   |                 |   |   |   |
| Larry Crawford     | 333,333                                                        | (3)    |                                                                                      |   |                                                                                    | 266,667 |                      | $      | 0.22                 |   | 9/30/2015 |   |
|               | 666,667                                                        | (3)    |                                                                                      |   |                                                                                    | 533,333 |                      | $      | 0.25                 |   | 9/30/2015 |   |
|               |                                                           |   |                                                                                      |   |                                                                                    |    |                      |   |                 |   |   |   |
| Barbara Kane-Burke | 200,000                                                        | (4)    |                                                                                      |   |                                                                                    |    |                      | $      | 0.41                 |   | 4/172010 |   |
|               | 100,000                                                        | (4)    |                                                                                      |   |                                                                                    |    |                      | $      | 0.40                 |   | 1/14/2010 |   |
|               | 200,000                                                        | (4)    |                                                                                      |   |                                                                                    |    |                      | $      | 0.30                 |   | 2/27/2015 |   |
| Grant Ogata        | 1,162,500                                                      | (5)    |                                                                                      |   |                                                                                    |    |                      | $      | 0.15                 |   | 2/5/2016 |   |
|               | 111,111                                                        | (6)    | 138,889                                                                                   |   |                                                                                    |    |                      | $      | 0.52                 |   | 2/5/2016 |   |
|               | 243,414                                                        | (7)    | 272,050                                                                                   |   |                                                                                    |    |                      | $      | 0.225                |   | 2/27/2015 |   |

----

| (1) | Options to Mr. Logvinov vest 50% on date of grant and the remaining 50% vest in the year following date of grant. |
|-----|-------------------------------------------------------------------------------------------------------------------|

| (2) | Options granted to Mr. Logvinov were fully vested on the date of grant May 24, 2008 |
|-----|-------------------------------------------------------------------------------------|

| (3) | Options granted to Mr. Crawford in accordance with the terms of his three year employment. The grant of 600,000 options will vest monthly over the term of Mr. Crawford’s employment agreement. The grant of 1,200,000 options will also vest monthly over the term of Mr. Crawford’s employment agreement as long as at least $16,667 of earned salary remains deferred and owing to Mr. Crawford. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | Options to Ms. Kane-Burke became 100% vested in accordance with the terms of her severance agreement with the Company. |
|-----|------------------------------------------------------------------------------------------------------------------------|

| (5) | Options to Mr. Ogata vest 50% on date of grant and the remaining 50% vest in the year following date of grant. |
|-----|----------------------------------------------------------------------------------------------------------------|

| (6) | Options to Mr. Ogata which are scheduled to vest in three equal annual amounts beginning on February 6, 2010. |
|-----|---------------------------------------------------------------------------------------------------------------|

| (7)  | Options to Mr. Ogata which are scheduled to vest in three equal installments beginning on December 15, 2009. |
|-----------|--------------------------------------------------------------------------------------------------------------|

----

----

|  Name and Address of Beneficial Owner      | Amount and Nature of Beneficial Ownership | Percent of Class (1) |
|-------------------------------------------------|-------------------------------------------|----------------------|
|                                            |                                      |                 |
| Andreas Typaldos44 West 77th StreetNew York, NY | 10,092,438 (2)                            | 28.86%               |

| (1) | Based upon 34,966,271 shares of Common Stock outstanding as of May 31, 2010 and with respect to each stockholder, the number of shares which would be outstanding upon the exercise by such stockholder of outstanding rights to acquire stock, either upon exercise of outstanding options, warrants or conversion of other securities exercisable within 60 days. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Includes (i) 1,327,270 shares owned by Renee Typaldos, Mr. Typaldos’ wife, of which 577,270 may be acquired upon the conversion of notes and exercise of warrants held by a limited liability company in which Mrs. Typaldos has a Ѕ interest; (ii) 4,940,168 shares owned by the Andreas Typaldos Family Limited Partnership, of which Mrs. Typaldos is the sole general partner; (iii) 2,000,000 shares owned by Patras Holdings LLC, a limited liability company of which Mr. Typaldos is the managing member; and (iv) 750,000 shares held by Mr. Typaldos’ minor child and (v) 1,075,000 shares held by Mr. Typaldos.  Does not include 15,485,163 shares which may be obtained upon the conversion of outstanding notes and the exercise of outstanding warrants held by Mr. Typaldos and the Andreas Typaldos Family Limited Partnership which are subject to a contractual limiting conversion or exercise which can be waived on 60 days notice. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Name of Beneficial Owner orNumber of Persons in Group       | Amount and Nature of Beneficial Ownership                                                                                             | Percent ofClass (1) |
|-------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------|---------------------|
|                                                        |                                                                                                                                  |                |
| Andreas Typaldos                                            | 10,092,438 (2)                                                                                                                        | 28.86%              |
|                                                        |                                                                                                                                  |                |
| Oleg Logvinov                                               | 3,090,000 (3)                                                                                                                         | 8.84%               |
|                                                        |                                                                                                                                  |                |
| William H. Carson                                           | 475,904 (4)                                                                                                                           | 1.36%               |
|                                                        |                                                                                                                                  |                |
| Gennaro Vendome                                             | 1,345,188 (5)                                                                                                                         | 3.85%               |
|                                                        |                                                                                                                                  |                |
| Harris Cohen                                                | 300,000 (6)                                                                                                                           | 0.86%               |
|                                                        |                                                                                                                                  |                |
| Grant Ogata                                                 | 1,565,650 (7)                     | 4.48%               |
|                                                        |                                                                                                                                  |                |
| Larry Crawford                                              | 1,110,000 (8)                     | 3.17%               |
|                                                        |                                                                                                                                  |                |
| All executive officers and directors as a group (7 persons) | 17,979,180 (9)                                                                                                                        | 51.42%              |

| (1) | Andreas Typaldos- Based upon 34,966,761 shares of Common Stock outstanding as of May 31, 2010 and with respect to each stockholder, the number of shares which would be outstanding upon the exercise by such stockholder of outstanding rights to acquire stock, either upon exercise of outstanding options, warrants or conversion of other securities exercisable within 60 days. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Andreas Typaldos-Includes (i) 1,327,270 shares owned by Renee Typaldos, Mr. Typaldos’ wife, of which 577,270 may be acquired upon the conversion of notes and exercise of warrants held by a limited liability company in which Mrs. Typaldos has a Ѕ interest; (ii) 5,390,167 shares owned by the Andreas Typaldos Family Limited Partnership, of which Mrs. Typaldos is the sole general partner; (iii) 2,000,000 shares owned by Patras Holdings LLC, a limited liability company of which Mr. Typaldos is the managing member; and (iv) 750,000 shares held by Mr. Typaldos’ minor child.  Does not include 14,485,163 shares which may be obtained upon the conversion of outstanding notes and the exercise of outstanding warrants held by Mr. Typaldos and the Andreas Typaldos Family Limited Partnership which are subject to a contractual limiting conversion or exercise which can be waived on 60 days notice. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Oleg Logvinov-Includes 1,170,000 shares of stock, and 1,920,000 vested options exercisable within 60 days of May 31, 2010. |
|-----|----------------------------------------------------------------------------------------------------------------------------|

| (4) | Bill Carson-Includes 185,904 shares, 160,000 shares held jointly with his wife, 10,000 shares owned by his son and 120,000 shares which may be acquired within 60 days of May 31, 2010 upon the exercise of outstanding options. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | Gennaro Vendome-Includes 675,015 shares, including 100,000 shares held by his wife, Laura and 120,000 shares which may be acquired upon the exercise of outstanding options and 550,173 which may be acquired upon the conversion of notes and exercise of warrants held by a limited liability company in which Mr. Vendome has a Ѕ interest. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6) | Harris Cohen- Includes 100,000 shares and 200,000 shares that be acquired upon the exercise of certain warrants held by Mr. Cohen. |
|-----|------------------------------------------------------------------------------------------------------------------------------------|

| (7)  | Grant Ogata-Includes 6,100 shares and vested options vesting within 60 days of May 31, 2010 to purchase 1,559,550 common shares. |
|-----------|----------------------------------------------------------------------------------------------------------------------------------|

| (8) | Larry Crawford- Includes 10,000 shares owned by Mr. Crawford and 1,100,000 shares that may be acquired within 60 days of May 31, 2010. , |
|-----|------------------------------------------------------------------------------------------------------------------------------------------|

| (9)  | Includes a total of 5,449,720 shares which may be obtained by the named executive officers and directors or person whose ownership is attributed to them upon the exercise of outstanding options and warrants and conversion of outstanding convertible securities.  See Notes (2) through (9) |
|-----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Name & Relationship                                                                                                              |   | DateIssued                                   |   | PrincipalAmount |                                                    |   | Interest Addedto Principal |   |                                           | Long TermWarrants1 |   |   | Short TermWarrants                 |   |
|--------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------|--------|-----------------|---------------------------------------------------------|--------|----------------------------|--------|------------------------------------------------|--------------------|--------|--------|------------------------------------|--------|
| Cargo Holdings LLC, a limited liability company, owned equally by the wife of Andreas Typaldos and Genarro Verdone, another director |   | 3/31/2006                                    |   |            | $500,000.00                                             |   |                       |   | $38,260.83                                     |               |   |   | 276,816                            |   |   |   | 235,294 |   |
|                                                                                                                                 |   |                                         |   |            |                                                    |   |                       |   |                                           |               |   |   |                               |   |   |   |   |   |
| Andreas Typaldos, our chairman                                                                                                       |   | 6/30/20065/30/2007                           |   |            | $360,000.00$70,000.00                                   | 2      |                       |   | $21,985.80$711.67                              |               |   |   | 199,30838,754                      |   |   |   | 169,412 |   |
|                                                                                                                                 |   |                                         |   |            |                                                    |   |                       |   |                                           |               |   |   |                               |   |   |   |   |   |
| Andreas Typaldos Family Limited Partnership, a limited partnership in which our chairman’s wife is sole general partner        |   | 6/30/20061/8/20072/28/20075/30/20075/31/2007 |   |            | $413,470.00$288,000.00$127,000.00$380,000.00$484,106.00 |   |                       |   | $25,251.36$7,612.34$3,356.83$3,293.33$2,504.21 |               |   |   | 170,088159,44770,312210,381268,018 |   |   |   | 144,575135,53059,765178,824227,815 |   |

| 1 | As adjusted July, 2007 as a result of anti-dilution provision in the warrants. |
|---|--------------------------------------------------------------------------------|

| 2 | Issued in satisfaction of unpaid consulting fees. |
|---|---------------------------------------------------|

| Name & Relationship                                                                                                              |   | Balance at February 28, 2011 |      |
|--------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------|-----------|
| Cargo Holdings LLC, a limited liability company, owned equally by the wife of Andreas Typaldos and Genarro Verdone, another director |   | $                            | 1,105,896 |   |
|                                                                                                                                 |   |                         |      |   |
| Andreas Typaldos, our chairman                                                                                                       |   | $                            | 2,397,628 |   |
|                                                                                                                                 |   |                         |      |   |
| Andreas Typaldos Family Limited Partnership, a limited partnership in which our chairman’s wife is sole general partner        |   | $                            | 3,290,741 |   |

| ITEM 14. | PRINCIPAL ACCOUNTANT FEES AND SERVICES |
|----------|----------------------------------------|

----

----

| ITEM 15. | EXHIBITS |
|----------|----------|

|          |                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | Incorporated by Reference |       |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------|------------|
| ExhibitNumber | Exhibit Description                                                                                                                                                                                                                                                                                                                                                                                                                  |   | Form                      | FileNumber | Exhibit | FilingDate | FiledHerewith |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                      |       |   |   |   |
| 2.1           | Agreement and Plan of Merger dated as of May 7, 2004 between CDKnet.com, Inc., CDK Merger Corp., Miletos, Inc. and Andreas Typaldos, as Representative of Certain Stockholders of Miletos, Inc.                                                                                                                                                                                                                                      |   | 10-K                      | 0-27587    | 2.1 | 9/17/04 |   |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                      |       |   |   |   |
| 2.2           | Amendment dated May 21, 2004 to the Agreement and Plan of Merger dated as of May 7, 2004 between CDKnet.com, Inc., CDK merger Corp., Miletos, Inc. and Andreas Typaldos, as Representative of Certain Stockholders of Miletos, Inc.                                                                                                                                                                                                  |   | 10-K                      | 0-27587    | 2.2 | 9/17/04 |   |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                      |       |   |   |   |
| 2.3           | Amendment Number 2, dated January 19, 2005, amending the Agreement and Plan of Merger, dated as of May 7, 2004, by and among CDKNet.Com, Inc., CDK Merger Corp., and Miletos, Inc., and Andreas Typaldos, in his individual capacity and as representative of the following stockholders of the Company: Renee Typaldos, Patra Holdings LLC, Andreas Typaldos Family Limited Partnership and Renee Typaldos Family Partnership, Ltd. |   | 10-QSB                    | 0-27587    | 2.1 | 1/23/06 |   |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                      |       |   |   |   |
| 2.4           | AGREEMENT AND PLAN OF MERGER dated as of February 13, 2007, among Arkados Group, Inc., a Delaware corporation, Arkados Wireless Technologies, Inc., a Delaware corporation and a newly formed wholly owned subsidiary Arkados Group, Inc. and Aster Wireless Inc., a Delaware corporation.                                                                                                                                           |   | 8-K                       | 0-27587    | 2.1 | 2/21/07 |   |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                      |       |   |   |   |
| 3i.1          | Articles of Incorporation of the Registrant.                                                                                                                                                                                                                                                                                                                                                                                         |   | 10-SB                     | 0-27587    | 3.1 | 10/7/99 |   |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                      |       |   |   |   |
| 3i.2          | Amendment to the Articles of Incorporation.                                                                                                                                                                                                                                                                                                                                                                                          |   | 10-SB                     | 0-27587    | 3.2 | 10/7/99 |   |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                      |       |   |   |   |
| 3i.3          | Certificate of Merger of the Registrant.                                                                                                                                                                                                                                                                                                                                                                                             |   | 10-SB                     | 0-27587    | 3.4 | 10/7/99 |   |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                      |       |   |   |   |
| 3i.4          | Amendment to the Articles of Incorporation.                                                                                                                                                                                                                                                                                                                                                                                          |   | 10-SB                     | 0-27587    | 3.5 | 10/7/99 |   |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                      |       |   |   |   |
| 3i.5          | Amended and Restated Series A Designation                                                                                                                                                                                                                                                                                                                                                                                            |   | 10-QSB                    | 0-27587    | 3.1 | 2/14/03 |   |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                      |       |   |   |   |
| 3i.6          | Amendment to Certificate of Incorporation (Reverse Split) filed November 31, 2003.                                                                                                                                                                                                                                                                                                                                                   |   | 10-QSB                    | 0-27587    | 3.1 | 2/17/04 |   |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                      |       |   |   |   |
| 3i.7          | Certificate of Amendment to Certificate of Incorporation                                                                                                                                                                                                                                                                                                                                                                             |   | 10-QSB                    | 0-27587    | 3.2 | 2/17/04 |   |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                      |       |   |   |   |
| 3i.8          | Certificate of Ownership and Merger dated August 30, 2006.                                                                                                                                                                                                                                                                                                                                                                           |   | 8-K                       | 0-27587    | 3.1 | 9/1/06 |   |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                      |       |   |   |   |
| 3ii.1         | By-Laws of the Registrant.                                                                                                                                                                                                                                                                                                                                                                                                           |   | 10-SB                     | 0-27587    | 3.3 | 10/7/99 |   |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                      |       |   |   |   |

----

| 4.1        | Specimen of Common Stock Certificate.                                                                                                                                                                                                |   |  10-K |  0-27587 | 4.1            | 10/10/06 |   |
|------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------|---------------|----------------|----------|--------|
|       |                                                                                                                                                                                                                                 |   |       |          |           |     |   |
| 4.2*       | Form of Stock Option Grant Agreement under the CDKnet.com, Inc. 2004 Stock Option and Restricted Stock Plan.                                                                                                                         |   | 10-K       | 0-27587       | 4.7            | 9/17/04  |   |
|       |                                                                                                                                                                                                                                 |   |       |          |           |     |   |
| 4.3        | Form of 6% Secured Convertible Debenture due December 28, 2008                                                                                                                                                                       |   | 8-K/A      | 0-27587       | 4.1            | 7/11/06  |   |
|       |                                                                                                                                                                                                                                 |   |       |          |           |     |   |
| 4.4        | Form of Common Stock Purchase Warrant (long term and short term warrants differ as to price and expiration date as set forth in footnotes to the form filed)                                                                         |   | 8-K/A      | 0-27587       | 4.2            | 7/11/06  |   |
|       |                                                                                                                                                                                                                                 |   |       |          |           |     |   |
| 4.5        | Registration Rights Agreement, dated as of December 28, 2005, by and among the Registrant, Bushido Capital Master Fund, L.P., Gamma Opportunity Capital Partners, L.P. Class A, and Gamma Opportunity Capital Partners, L.P. Class C |   | 8-K/A      | 0-27587       | 4.3            | 7/11/06  |   |
|       |                                                                                                                                                                                                                                 |   |       |          |           |     |   |
| 4.6        | Form of Request for Extension of 6% Convertible Subordinated Note due July 7, 2007                                                                                                                                                   |   |  8-K  | 0-27587       | 4.2            | 7/17/07  |   |
|       |                                                                                                                                                                                                                                 |   |       |          |           |     |   |
| 4.7        | Form of three year warrant exercisable at $0.85                                                                                                                                                                                      |   |  8-K  | 0-27587       | 4.3            | 7/17/07  |   |
|       |                                                                                                                                                                                                                                 |   |       |          |           |     |   |
| 4.8        | Form of 6% Secured Convertible Debenture due December 28, 2008, as amended December 15, 2007                                                                                                                                         |   | 8-K        | 0-27587       | 4.1            | 12/12/07 |   |
|       |                                                                                                                                                                                                                                 |   |       |          |           |     |   |
| 4.9        | Form of Common Stock Purchase Warrant, as amended December 15, 2007                                                                                                                                                                  |   | 8-K        | 0-27587       | 4.2            | 12/12/07 |   |
|       |                                                                                                                                                                                                                                 |   |       |          |           |     |   |
| 4.10       | Form of 6% Secured Convertible Debenture due December 28, 2008, as amended April 2, 2008                                                                                                                                             |   | 8-K        | 0-27587       | 4.2            | 04/08/08 |   |
|       |                                                                                                                                                                                                                                 |   |       |          |           |     |   |
| 4.11       | Form of Request for Extension                                                                                                                                                                                                        |   | 8-K        | 0-27587       | 4.2            | 07/22/08 |   |
|       |                                                                                                                                                                                                                                 |   |       |          |           |     |   |
| 4.12       | Form of Extension, Waiver and Conversion Agreement                                                                                                                                                                                   |   | 8-K        | 0-27587       | 4.3            | 07/22/08 |   |
|       |                                                                                                                                                                                                                                 |   |       |          |           |     |   |
| 4.13       | Form of 6% Secured Convertible Debenture due June 28, 2009, as amended August 7, 2008 (convertible at $0.25).                                                                                                                        |   | 8-K        | 0-27587       | 4.1            | 08/11/08 |   |
|       |                                                                                                                                                                                                                                 |   |       |          |           |     |   |
| 4.14  | Form of New Warrant exercisable at $0.25 per share.                                                                                                                                                                             |   | 8-K        | 0-27587       | 4.2       | 08/11/08 |   |
|       |                                                                                                                                                                                                                                 |   |       |          |           |     |   |
| 4.15       | Form of warrant exercisable at $0.25 per share until June 30, 2013                                                                                                                                                              |   | 8-K        | 0-27587       | 4.3       | 08/11/08 |   |
|       |                                                                                                                                                                                                                                 |   |       |          |           |     |   |
| 10.1*      | Technology Horizons Corp. 1998 Equity Incentive Plan.                                                                                                                                                                                |   | 10-SB      | 0-27587       | 10.1           | 10/7/99  |   |
|       |                                                                                                                                                                                                                                 |   |       |          |           |     |   |
| 10.2       | Registration Rights Agreements dated as of May 21, 2004 between CDKnet.Com, Inc. and several stockholders.                                                                                                                           |   | 10-K       | 0-27587       | 10.17.110.17.2 | 9/17/04  |   |
|       |                                                                                                                                                                                                                                 |   |       |          |           |     |   |
| 10.3*      | Consulting Agreement dated as of May 21, 2004 between CDKnet.Com, Inc. and Andreas Typaldos.                                                                                                                                         |   | 10-K       | 0-27587       | 10.18          | 9/17/04  |   |

----

|   |                                                                                                                                                                                                                                                                                                                                                  |   |   |    |   |    |   |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|---------|--------|
| 10.4*  | Employment Agreement dated as of May 23, 2004 between CDKnet.Com, Inc. and Oleg Logvinov.                                                                                                                                                                                                                                                             |   | 10-K   | 0-27587 | 10.19  | 9/17/04 |   |
|   |                                                                                                                                                                                                                                                                                                                                                  |   |   |    |   |    |   |
| 10.5   | Silicon Product Development Production Collaboration Agreement dated July 28, 2004 between GDA Technologies, Inc. and Arkados, Inc.                                                                                                                                                                                                                   |   | 10-K   | 0-27587 | 10.23  | 9/17/04 |   |
|   |                                                                                                                                                                                                                                                                                                                                                  |   |   |    |   |    |   |
| 10.6   | Form of 10% convertible extendible note due June 8, 2005 in the aggregate authorized principal amount of $750,000                                                                                                                                                                                                                                     |   | 10-QSB | 0-27587 | 10.1   | 4/19/05 |   |
|   |                                                                                                                                                                                                                                                                                                                                                  |   |   |    |   |    |   |
| 10.7   | Form of three year warrant exercisable at $0.67                                                                                                                                                                                                                                                                                                       |   | 10-QSB | 0-27587 | 10.2   | 4/19/05 |   |
|   |                                                                                                                                                                                                                                                                                                                                                  |   |   |    |   |    |   |
| 10.8   | Form of registration rights agreement relating to the 10% convertible extendible notes and three year warrants                                                                                                                                                                                                                                        |   | 10-QSB | 0-27587 | 10.3   | 4/19/05 |   |
|   |                                                                                                                                                                                                                                                                                                                                                  |   |   |    |   |    |   |
| 10.9*  | Stock Option Grant Agreement dated June 21, 2005                                                                                                                                                                                                                                                                                                      |   | 8-K    | 0-27587 | 10.1   | 6/24/05 |   |
|   |                                                                                                                                                                                                                                                                                                                                                  |   |   |    |   |    |   |
| 10.10  | Form of Securities Purchase Agreement                                                                                                                                                                                                                                                                                                                 |   | 8-K    | 0-27587 | 10.1   | 7/14/05 |   |
|   |                                                                                                                                                                                                                                                                                                                                                  |   |   |    |   |    |   |
| 10.11  | Form of 6% Convertible Subordinated Note due July 7, 2007 in the aggregate authorized principal amount of $2.4 million                                                                                                                                                                                                                                |   | 8-K    | 0-27587 | 10.2   | 7/14/05 |   |
|   |                                                                                                                                                                                                                                                                                                                                                  |   |   |    |   |    |   |
| 10.12  | Form of three year warrant exercisable at $0.35                                                                                                                                                                                                                                                                                                       |   | 8-K    | 0-27587 | 10.3   | 7/14/05 |   |
|   |                                                                                                                                                                                                                                                                                                                                                  |   |   |    |   |    |   |
| 10.13  | Securities Purchase Agreement, dated as of December 28, 2005, by and among the Registrant, Bushido Capital Master Fund, L.P., Gamma Opportunity Capital Partners, L.P. Class A, and Gamma Opportunity Capital Partners, L.P. Class C                                                                                                                  |   | 8-K    | 0-27587 | 99.1   | 1/4/06  |   |
|   |                                                                                                                                                                                                                                                                                                                                                  |   |   |    |   |    |   |
| 10.14  | Security Agreement, dated as of December 28, 2005, by and among the Registrant, Gamma Opportunity Capital Partners, L.P. Class A, and Gamma Opportunity Capital Partners, L.P. Class C                                                                                                                                                                |   | 8-K    | 0-27587 | 99.2   | 1/4/06  |   |
|   |                                                                                                                                                                                                                                                                                                                                                  |   |   |    |   |    |   |
| 10.15  | Subsidiary Guarantee dated as of December 28, 2005 executed by Arkados, Inc.                                                                                                                                                                                                                                                                          |   | 8-K    | 0-27587 | 99.3   | 1/4/06  |   |
|   |                                                                                                                                                                                                                                                                                                                                                  |   |   |    |   |    |   |
| 10.16  | Waiver dated as of January 17, 2006 to the Securities Purchase Agreement, dated as of December 28, 2005, by and among the Registrant, Bushido Capital Master Fund, L.P., Gamma Opportunity Capital Partners, L.P. Class A, and Gamma Opportunity Capital Partners, L.P. Class C                                                                       |   | 10-QSB | 0-27587 | 10.1   | 1/23/06 |   |
|   |                                                                                                                                                                                                                                                                                                                                                  |   |   |    |   |    |   |
| 10.17  | Additional Issuance Agreement dated February 1, 2006 between the Registrant and Bushido Capital Master Fund, L.P.                                                                                                                                                                                                                                     |   | 8-K    | 0-27587 | 99.4   | 2/6/06  |   |
|   |                                                                                                                                                                                                                                                                                                                                                  |   |   |    |   |    |   |
| 10.18  | Amended and Restated Extension Waiver and Debt Conversion Agreement dated as of February 1, 2006 by and among the Registrant and each of the holders of the Registrant’s outstanding 10% Convertible Extendable Notes originally due June 8, 2005, 6% Convertible Notes original due October 15, 2005 and that Grid Note dated October 15, 2004 |   | 8-K    | 0-27587 | 99.5   | 2/6/06  |   |
|   |                                                                                                                                                                                                                                                                                                                                                  |   |   |    |   |    |   |

----

| 10.19  | Debt Conversion Agreement (Note) dated as of January 11, 2006 between the Registrant and William Carson                                                                                                                              |   | 8-K    | 0-27587 | 99.6   | 2/6/06  |   |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|---------|--------|
|   |                                                                                                                                                                                                                                 |   |   |    |   |    |   |
| 10.20  | Debt Conversion Agreement (Advances) dated as of January 11, 2006 between the Registrant and William Carson                                                                                                                          |   | 8-K    | 0-27587 | 99.7   | 2/6/06  |   |
|   |                                                                                                                                                                                                                                 |   |   |    |   |    |   |
| 10.21  | Debt Conversion Agreement (Advances) dated as of January 11, 2006 between the Registrant and Gennaro Vendome                                                                                                                         |   | 8-K    | 0-27587 | 99.8   | 2/6/06  |   |
|   |                                                                                                                                                                                                                                 |   |   |    |   |    |   |
| 10.22  | Second Additional Issuance Agreement dated February 24, 2006 between the Registrant and Bushido Capital Master Fund, L.P., Gamma Opportunity Capital Partners, L.P. Class A, and Gamma Opportunity Capital Partners, L.P. Class C    |   | 8-K    | 0-27587 | 99.5   | 3/2/06  |   |
|   |                                                                                                                                                                                                                                 |   |   |    |   |    |   |
| 10.23  | Third Additional Issuance Agreement dated March 31, 2006 between the Registrant and Cargo Holdings LLC                                                                                                                               |   | 8-K    | 0-27587 | 99.6   | 4/6/06  |   |
|   |                                                                                                                                                                                                                                 |   |   |    |   |    |   |
| 10.24  | Letter Agreement dated march 31, 2006 between the Registrant and Bushido Capital Master Fund, L.P., Gamma Opportunity Capital Partners, L.P. Class A, and Gamma Opportunity Capital Partners, L.P. Class C                           |   | 8-K    | 0-27587 | 99.7   | 4/6/06  |   |
|   |                                                                                                                                                                                                                                 |   |   |    |   |    |   |
| 10.25  | Warrant agreement dated March 20, 2006 issued to Emerging Capital Markets LLC                                                                                                                                                        |   | 8-K    | 0-27587 | 99.8   | 4/6/06  |   |
|   |                                                                                                                                                                                                                                 |   |   |    |   |    |   |
| 10.26  | Lease Agreement effective May 8, 2006 between Arkados, Inc. and Bridgeview Plaza Associates.                                                                                                                                         |   | 8-K    | 0-27587 | 99.1   | 5/9/06  |   |
|   |                                                                                                                                                                                                                                 |   |   |    |   |    |   |
| 10.27  | Securities Purchase Agreement, dated as of December 28, 2005, by and among the Registrant, Bushido Capital Master Fund, L.P., Gamma Opportunity Capital Partners, L.P. Class A, and Gamma Opportunity Capital Partners, L.P. Class C |   | 8-K/A  | 0-27587 | 99.1   | 7/11/06 |   |
|   |                                                                                                                                                                                                                                 |   |   |    |   |    |   |
| 10.28  | Security Agreement, dated as of December 28, 2005, by and among the Registrant, Gamma Opportunity Capital Partners, L.P. Class A, and Gamma Opportunity Capital Partners, L.P. Class C                                               |   | 8-K/A  | 0-27587 | 99.2   | 7/11/06 |   |
|   |                                                                                                                                                                                                                                 |   |   |    |   |    |   |
| 10.29  | Subsidiary Guarantee dated as of December 28, 2005 executed by Arkados, Inc.                                                                                                                                                         |   | 8-K/A  | 0-27587 | 99.3   | 7/11/06 |   |
|   |                                                                                                                                                                                                                                 |   |   |    |   |    |   |
| 10.30* | Letter Amendment dated June 30, 2006 to the Consulting Agreement with Andreas Typaldos dated May 21, 2004                                                                                                                            |   | 8-K/A  | 0-27587 | 99.4   | 7/11/06 |   |
|   |                                                                                                                                                                                                                                 |   |   |    |   |    |   |
| 10.31  | Amendment Agreement dated August 18, 2006 between CDKnet.com, Inc., Bushido Capital Master Fund, LP, Gamma Opportunity Capital Partners, LP (Classes A and C), and Cargo Holdings LLC                                                |   | 8-K    | 0-27587 | 99.1   | 8/24/06 |   |

----

| 10.32  | Additional Issuance Agreement dated September 26, 2006 between Arkados Group, Inc., Bushido Capital Master Fund, LP, Pierce Diversified Strategy Master Fund, LLC - Series BUS, Andreas Typaldos and Andreas Typaldos Family Limited Partnership                                  |   | 8-K    | 0-27587 | 99.5   | 10/2/06  |   |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|----------|--------|
|   |                                                                                                                                                                                                                                                                              |   |   |    |   |     |   |
| 10.33  | Waiver and Amendment Agreement dated September 26, 2006 between Arkados Group, Inc. and Bushido Capital Master Fund, L.P., Gamma Opportunities Capital Partners, LP Class A, Gamma Opportunities Capital Partners, LP Class C and Cargo Holdings LLC                              |   | 8-K    | 0-27587 | 99.6   | 10/2/06  |   |
|   |                                                                                                                                                                                                                                                                              |   |   |    |   |     |   |
| 10.34  | Waiver and Amendment Agreement dated October 24, 2006 between Arkados Group, Inc. and Bushido Capital Master Fund, L.P., Gamma Opportunities Capital Partners, LP Class A, Gamma Opportunities Capital Partners, LP Class C and Cargo Holdings LLC                                |   | 8-K    | 0-27587 | 99.6   | 10/30/06 |   |
|   |                                                                                                                                                                                                                                                                              |   |   |    |   |     |   |
| 10.35  | Third Additional Issuance Agreement dated November 30, 2006 between Arkados Group, Inc., Bushido Capital Master Fund, LP, Pierce Diversified Strategy Master Fund, LLC – Series BUS, Andreas Typaldos and Andreas Typaldos Family Limited Partnership                       |   | 8-K    | 0-27587 | 99.6   | 12/5/06  |   |
|   |                                                                                                                                                                                                                                                                              |   |   |    |   |     |   |
| 10.36  | Waiver and Amendment Agreement dated November 30, 2006 between Arkados Group, Inc. and Bushido Capital Master Fund, L.P., Gamma Opportunities Capital Partners, LP Class A, Gamma Opportunities Capital Partners, LP Class C and Cargo Holdings LLC                               |   | 8-K    | 0-27587 | 99.7   | 12/5/06  |   |
|   |                                                                                                                                                                                                                                                                              |   |   |    |   |     |   |
| 10.37  | Fourth Additional Issuance Agreement dated January 8, 2007 between Arkados Group, Inc., Bushido Capital Master Fund, LP, Pierce Diversified Strategy Master Fund, LLC – Series BUS, Andreas Typaldos and Andreas Typaldos Family Limited Partnership                        |   | 8-K    | 0-27587 | 99.8   | 5/11/07  |   |
|   |                                                                                                                                                                                                                                                                              |   |   |    |   |     |   |
| 10.38  | Fifth Additional Issuance Agreement dated February 28, 2007 between Arkados Group, Inc., Bushido Capital Master Fund, LP, Pierce Diversified Strategy Master Fund, LLC – Series BUS, Andreas Typaldos and Andreas Typaldos Family Limited Partnership                       |   | 8-K    | 0-27587 | 99.9   | 5/11/07  |   |
|   |                                                                                                                                                                                                                                                                              |   |   |    |   |     |   |
| 10.39  | Sixth Additional Issuance Agreement dated March 6, 2007 between Arkados Group, Inc., Crucian Transition, Inc., Bushido Capital Master Fund, LP, Pierce Diversified Strategy Master Fund, LLC – Series BUS, Andreas Typaldos and Andreas Typaldos Family Limited Partnership |   | 8-K    | 0-27587 | 99.10  | 5/11/07  |   |
|   |                                                                                                                                                                                                                                                                              |   |   |    |   |     |   |
| 10.40  | Waiver and Amendment Agreement dated January 8, 2007 between Arkados Group, Inc. and Bushido Capital Master Fund, L.P., Gamma Opportunities Capital Partners, LP Class A, Gamma Opportunities Capital Partners, LP Class C and Cargo Holdings LLC                                 |   | 8-K    | 0-27587 | 99.11  | 5/11/07  |   |

----

| 10.41  | Waiver and Amendment Agreement dated February 28, 2007 between Arkados Group, Inc. and Bushido Capital Master Fund, L.P., Gamma Opportunities Capital Partners, LP Class A, Gamma Opportunities Capital Partners, LP Class C and Cargo Holdings LLC                                                                                       |   | 8-K    | 0-27587 | 99.12       | 5/11/07       |   |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|-------------|---------------|--------|
|   |                                                                                                                                                                                                                                                                                                                                      |   |   |    |        |          |   |
| 10.42  | Waiver and Amendment Agreement dated March 6, 2007 between Arkados Group, Inc. and Bushido Capital Master Fund, L.P., Gamma Opportunities Capital Partners, LP Class A, Gamma Opportunities Capital Partners, LP Class C and Cargo Holdings LLC                                                                                           |   | 8-K    | 0-27587 | 99.13       | 5/11/07       |   |
|   |                                                                                                                                                                                                                                                                                                                                      |   |   |    |        |          |   |
| 10.43  | Seventh Additional Issuance Agreement dated March 6, 2007 between Arkados Group, Inc., Crucian Transition, Inc., Bushido Capital Master Fund, LP, Pierce Diversified Strategy Master Fund, LLC – Series BUS, Andreas Typaldos and Andreas Typaldos Family Limited Partnership                                                       |   | 8-K    | 0-27587 | 99.14       | 5/11/07       |   |
|   |                                                                                                                                                                                                                                                                                                                                      |   |   |    |        |          |   |
| 10.44  | Waiver and Amendment Agreement dated May 7, 2007 between Arkados Group, Inc. and Bushido Capital Master Fund, L.P., Gamma Opportunities Capital Partners, LP Class A, Gamma Opportunities Capital Partners, LP Class C and Cargo Holdings LLC                                                                                             |   | 8-K    | 0-27587 | 99.15       | 5/11/07       |   |
|   |                                                                                                                                                                                                                                                                                                                                      |   |   |    |        |          |   |
| 10.45  | Eighth Additional Issuance Agreement dated May 30, 2007 between Arkados Group, Inc., Crucian Transition, Inc., Bushido Capital Master Fund, LP, Pierce Diversified Strategy Master Fund, LLC – Series BUS, Andreas Typaldos, Andreas Typaldos Family Limited Partnership, Kathryn Typaldos, Herbert H. Sommer and Joel C. Schneider |   | 8-K    | 0-27587 | 99.16  |  6/05/07 |   |
|   |                                                                                                                                                                                                                                                                                                                                      |   |   |    |        |          |   |
| 10.46  | Ninth Additional Issuance Agreement dated May 31, 2007 between Arkados Group, Inc., Crucian Transition, Inc., Bushido Capital Master Fund, LP, Pierce Diversified Strategy Master Fund, LLC – Series BUS, Andreas Typaldos, Andreas Typaldos Family Limited Partnership, Kathryn Typaldos, Herbert H. Sommer and Joel C. Schneider  |   | 8-K    | 0-27587 | 99.17  |  6/05/07 |   |
|   |                                                                                                                                                                                                                                                                                                                                      |   |   |    |        |          |   |
| 10.47  | Waiver and Amendment Agreement dated May 30, 2007 between Arkados Group, Inc. and Bushido Capital Master Fund, L.P., Gamma Opportunities Capital Partners, LP Class A, Gamma Opportunities Capital Partners, LP Class C and Cargo Holdings LLC                                                                                            |   | 8-K    | 0-27587 | 99.18  |  6/05/07 |   |
|   |                                                                                                                                                                                                                                                                                                                                      |   |   |    |        |          |   |
| 10.48  | Waiver and Amendment Agreement dated May 31, 2007 between Arkados Group, Inc. and Bushido Capital Master Fund, L.P., Gamma Opportunities Capital Partners, LP Class A, Gamma Opportunities Capital Partners, LP Class C and Cargo Holdings LLC                                                                                            |   | 8-K    | 0-27587 | 99.19       | 6/05/07       |   |

----

| 10.49* | Limited waiver letter dated October 10, 2006 relating to the Employment Agreement dated as of May 23, 2006 between Arkados Group, Inc. (formerly CDKnet.com, Inc.) and Oleg Logvinov                                                                                                                                                                                                      |   |  10-K | 0-27587  | 10.34  | 10/10/06 |   |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------|----------|--------|----------|--------|
|   |                                                                                                                                                                                                                                                                                                                                                                                      |   |       |     |   |     |   |
| 10.50* | Limited waiver letter dated November 9, 2006 relating to the employment agreement dated as of May 23, 2004 between Arkados Group, Inc. (formerly CDKnet.com, Inc.) and Oleg Logvinov.                                                                                                                                                                                                     |   | 10-QSB     | 0-27587  | 10.1   | 1/12/07  |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                      |   |       |     |   |     |   |
| 10.51* | Employment Agreement dated as of December 27, 2007 between Arkados Group, Inc. and Barbara Kane-Burke.                                                                                                                                                                                                                                                                                    |   | 8-K        | 02-27587 | 99.1   | 4/25/07  |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                      |   |       |     |   |     |   |
| 10.52  | Solicitation Agreement between Arkados Group, Inc. and Trident Partners, Ltd                                                                                                                                                                                                                                                                                                              |   |  8-K  | 0-27587  | 99.1   | 7/17/07  |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                      |   |       |     |   |     |   |
| 10.53  | Letter Amendment dated September 10, 2007 to the Consulting Agreement with Andreas Typaldos dated May 21, 2004                                                                                                                                                                                                                                                                            |   | 10-KSB     | 0-27587  | 10.53  | 9/13/07  |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                      |   |       |     |   |     |   |
| 10.54  | Amendment Agreement dated December 6, 2007 between Arkados Group, Inc., Bushido Capital Master Fund, LP, Gamma Opportunity Capital Partners, LP (Classes A and C), Cargo Holdings LLC, Crucian Transition, Inc., Pierce Diversified Strategy Master Fund, LLC – Series BUS, Andreas Typaldos Family Limited Partnership, Kathryn Typaldos, Herbert H. Sommer and Joel C. Schneider. |   | 8-K        | 0-27587  | 99.1   | 12/12/07 |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                      |   |       |     |   |     |   |
| 10.55  | Tenth Additional Issuance Agreement dated December 15, 2007 between Arkados Group, Inc., Crucian Transition, Inc., Bushido Capital Master Fund, LP, Pierce Diversified Strategy Master Fund, LLC – Series BUS, Andreas Typaldos, Andreas Typaldos Family Limited Partnership, Kathryn Typaldos, Herbert H. Sommer, Joel C. Schneider, Gennaro Vendome and William H. Carson         |   | 8-K        | 0-27587  | 99.20  | 12/22/07 |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                      |   |       |     |   |     |   |
| 10.56  | Waiver and Amendment Agreement dated December 15, 2007 between Arkados Group, Inc. and Bushido Capital Master Fund, L.P., Gamma Opportunities Capital Partners, LP Class A, Gamma Opportunities Capital Partners, LP Class C and Cargo Holdings LLC                                                                                                                                       |   | 8-K        | 0-27587  | 99.21  | 12/22/07 |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                      |   |       |     |   |     |   |
| 10.57  | Waiver and Amendment Agreement dated April 2, 2008 between Arkados Group, Inc., and certain holders of Arkados Group, Inc. 6% secured convertible debentures due December 28, 2008.                                                                                                                                                                                                       |   | 8-K        | 0-27587  | 99.1   | 04/08/08 |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                      |   |       |     |   |     |   |
| 10.58  | Solicitation Agreement between Arkados Group, Inc. and Trident Partners, Ltd                                                                                                                                                                                                                                                                                                              |   | 8-K        | 0-27587  | 99.1   | 07/22/08 |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                      |   |       |     |   |     |   |
| 10.59  | Waiver and Amendment Agreement dated April 2, 2008 between Arkados Group, Inc., and certain holders of Arkados Group, Inc. 6% secured convertible debentures due December 28, 2008.                                                                                                                                                                                                       |   | 8-K        | 0-27587  | 99.1   | 08/11/08 |   |

----

| 14.1   | Code of Business Conduct and Ethics                                                                      |   | 10-K   | 0-27587 | 14.1   | 9/17/04  |   |
|--------|----------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|----------|--------|
|   |                                                                                                     |   |   |    |   |     |   |
| 14.2   | Code of Ethics for Financial Executives                                                                  |   | 10-K   | 0-27587 | 14.2   | 9/17/04  |   |
|   |                                                                                                     |   |   |    |   |     |   |
| 21     | Subsidiaries of the Registrant.                                                                          |   | 10-K   | 0-27587 | 21     | 09/14/10 |   |
|   |                                                                                                     |   |   |    |   |     |   |
| 31.1   | Certification of Chief Executive Officer of Periodic Report pursuant to Rule 13a-14a and Rule 15d-14(a). |   |   |    |   |     | X      |
|   |                                                                                                     |   |   |    |   |     |   |
| 31.2   | Certification of Chief Financial Officer of Periodic Report pursuant to Rule 13a-14a and Rule 15d-14(a). |   |   |    |   |     | X      |
|   |                                                                                                     |   |   |    |   |     |   |
| 32.1   | Certification of Chief Executive Officer of pursuant to 18 U.S.C. - Section 1350.                        |   |   |    |   |     | X      |
|   |                                                                                                     |   |   |    |   |     |   |
| 32.2   | Certification of Chief Financial Officer of pursuant to 18 U.S.C. - Section 1350.                        |   |   |    |   |     | X      |
|   |                                                                                                     |   |   |    |   |     |   |

----

|               |                             |                      |
|--------------------|----------------------------------|---------------------------|
|               | Arkados Group, Inc. (Registrant) |
|     |                   |            |
|               | By:                    | /s/ Andreas Typaldos |
|               | Acting Chief Executive Officer   |
|               |                             |

| Date:    April 4, 2011 | By: /s/ Gennaro Vendome |
|---------------------------------------|------------------------------|
|                                  | Gennaro Vendome, Director    |

| Date:    April 4, 2011 | By:  /s/ William Carson  |
|---------------------------------------|------------------------------------|
|                                  | William H. Carson, Director   |

| Date:    April 4, 2011 | By:  /s/ Andreas Typaldos                                                                                                      |
|---------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------|
|                                  | Andreas Typaldos, Chairman and Acting Chief Executive Officer  (and as sole officer de facto principal financial and accounting officer) |

| Date:     April 4, 2011 | By:  /s/ Harris Cohen |
|----------------------------------------|----------------------------|
|                                   | Harris Cohen, Director     |

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