Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
MILLENCO, L.L.C.
  2. Issuer Name and Ticker or Trading Symbol
Converted Organics Inc. [COIN]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
666 FIFTH AVENUE, 8TH FLOOR, 
3. Date of Earliest Transaction (Month/Day/Year)
01/03/2008
(Street)

NEW YORK, NY 10103-0899
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
common stock, par value $0.0001 per share ("Common Stock") 01/03/2008   S   50,000 D $ 5.8203 222,273 D (2)  
Common Stock 01/04/2008   S   80,000 D $ 5.6596 142,273 (1) (3) D (2)  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-redeemable Class B public warrant ("Class B Warrant") $ 11 01/04/2008   S     50,000 03/15/2007(5) 02/13/2012(5) Common Stock 60,775 (5) $ 2.5469 174,000 (5) D (2)  
Class A public warrant ("Class A Warrant") $ 8.25             03/15/2007(4) 02/13/2012(4) Common Stock (4)   224,000 (4) D (2)  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
MILLENCO, L.L.C.
666 FIFTH AVENUE, 8TH FLOOR
NEW YORK, NY 10103-0899
    X    
MILLENNIUM MANAGEMENT, L.L.C.
666 FIFTH AVENUE, 8TH FLOOR
NEW YORK, NY 10103-0899
      May be deemed as group member.
ENGLANDER ISRAEL A
C/O MILLENNIUM MANAGEMENT LLC
666 FIFTH AVENUE, 8TH FLOOR
NEW YORK, NY 10103-0899
      May be deemed as group member.

Signatures

 Mark Meskin, Chief Executive Officer   01/04/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) As of the date hereof, Millenco LLC, a Delaware limited liability company ("Millenco"), formerly known as Millenco, L.P., a Delaware limited partnership, beneficially owns 142,273 shares of the Company's common stock par value $0.0001 per share ("Common Stock").
(2) Millennium Management LLC, a Delaware limited liability company ("Millennium Management"), is the manager of Millenco, and consequently may be deemed to have shared voting control and investment discretion over securities owned by Millenco. Israel A. Englander ("Mr. Englander") is the managing member of Millennium Management. As a result, Mr. Englander may be deemed to have shared voting control and investment discretion over securities deemed to be beneficially owned by Millennium Management. The foregoing should not be construed in and of itself as an admission by Millennium Management or Mr. Englander as to beneficial ownership of the shares owned by Millenco.
(3) On February 16, 2007, as part of its initial public offering, the Company agreed to pay a 5% quarterly stock dividend, commencing March 31, 2007, and every full quarter thereafter until the Woodbridge, New Jersey facility is operational. As of December 18, 2007, the Company has declared four such quarterly dividends and such dividends have been included in the number of shares of Common Stock held by the Reporting Persons.
(4) After giving effect to four 5% stock dividends, which increased the number of shares into which each Class A Warrant is exercisable, each Class A Warrant entitles the holder to purchase 1.2155 shares of the Company's Common Stock at a price of $8.25. Each Class A Warrant became exercisable on March 15, 2007 and expires on February 13, 2012 (but if the Class A Warrants are not exercisable at that time because a current registration statement for the underlying shares of Common Stock is not available, then the expiration date will be extended for 30 days following notice from the Issuer that the Class A Warrants are again exercisable).
(5) After giving effect to four 5% stock dividends, which increased the number of shares into which each Class B Warrant is exercisable, each Class B Warrant entitles the holder to purchase 1.2155 shares of the Company's Common Stock at a price of $11.00. Each Class B Warrant became exercisable on March 15, 2007 and expires on February 13, 2012 (but if the Class B Warrants are not exercisable at that time because a current registration statement for the underlying shares of Common Stock is not available, then the expiration date will be extended for 30 days following notice from the Issuer that the Class B Warrants are again exercisable).
 
Remarks:
MILLENCO LLC

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