FAT CATS

[polkamatic]

I recall the reading the 8-k on the acquisition but I didn't see the update in the 10q...

On November 3, 2006, the Registrant's Board of Directors approved an investment of $2,500,000 in AgriFuel Co., a privately-held Delaware corporation ("AgriFuel"). AgriFuel intends to produce and market biofuels (including biodiesel) refined from agricultural feedstocks such as soybeans and other oil-producing plant materials as well as spent vegetable oils from restaurants. Biofuels are clean-burning alternative fuels containing no petroleum that can be used in blends with petroleum or independently in motor vehicles and in certain heating systems. The Registrant has used blends of at least 20% biodiesel to fuel most of the trucks used in its New York State operations since June of 2005. Use of biofuels is expected to reduce consumers' dependence on petroleum-based fuels. The Registrant's investment will make it the holder of a majority of the shares of stock of AgriFuel and give it control over AgriFuel. The remaining shares of AgriFuel stock are owned by several independent investors, some of whom also own stock in the Registrant.



http://biz.yahoo.com/e/061106/mea8-k.html