On February 6, 2009, Windswept Environmental Group Inc. received notification from its secured lenders that, in view of the company's defaults, they were accelerating the payment on their loans. These loans are in the current approximate aggregate principal amount of $5,908,000. Prior thereto, the company sought to obtain financing and potentially pay off its secured loans. Negotiations with one possible financing source were terminated by such financing source and no additional sources of capital were located. On February 6, 2009, Dr. Kevin Phillips resigned as a director of the company, on February 12, 2009, Anthony P. Towell resigned as a director of the company and on February 13, 2009, Arthur J. Wasserspring resigned as Chief Financial Officer of the company. Messrs. Phillips and Towell were also members of the Audit and Compensation Committees of the Board. Jeffrey Micheli remains an officer and director of the company and all employees of the company have been terminated.

Windswept Environmental Group Inc. announced that its Board of Directors have elected Jeffrey Micheli as the company's new President/CEO and member of the Board to replace the late Michael O'Reilly, its past President/CEO, who recently passed away due to illness. Anthony P. Towell, a current director, was elected as Chairman of the Board of Directors, a position Mr. O'Reilly previously held. Mr. Micheli has been with Windswept for over thirteen years, joining the organization a year and a half after its inception, and for the last six years most recently served as the chief operating officer of the company's chief operating subsidiary, Trade-Winds Environmental Restoration.

On 09/29/2008, Windswept Environmental Group Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC.