Ethanex Energy Inc. (fka EHTEQ)

[makesumgravy]

Yep!. The company files bankruptcy and retains shell status. It really sounds like ethanol is a real iffy proposition with whats been learned about it and its fate as an alternative fuel source may be coming to an end in this country. Its to expensive to produce and over production of corn is causing commodities to rise in price, and with it being used for fuel as opposed for its purpose, a major food source is having among all the other things being reported is having more negative ramificatons as postive ones. Maybe we go back to straight gas. Something held up this deal, and this may have been the crux of it.


Form 8-K for ETHANEX ENERGY, INC.


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27-Mar-2008

Termination of a Material Definitive Agreement, Bankruptcy or Receivership,



Item 1.02 Termination of a Material Definitive Agreement
On March 25, 2007, Buhler, Inc. ("Buhler") terminated that certain Joint Marketing Agreement by and between Ethanex Energy, Inc. (the "Company") and Buhler, dated April 20, 2007 (the "Marketing Agreement"), pursuant to the terms and conditions of the Marketing Agreement. The Marketing Agreement was terminated by Buhler in connection with the Company's cessation of operations. The Company did not incur any penalties as a result of the termination of the Marketing Agreement. A copy of the termination is attached as Exhibit 10.1 to this Current Report on Form 8-K.





Item 1.03 Bankruptcy or Receivership
On March 27, 2007, the Company and Ethanex Southern Illinois, LLC, filed a voluntary petition for relief under Chapter 7 of the United States Bankruptcy Code (the "Bankruptcy Petition"). The Bankruptcy Petition was filed in the United States Bankruptcy Court for Kansas. Jurisdiction was assumed on the date the Bankruptcy Petition was filed. The case numbers are 08-20645 and 08-20651. The bankruptcy trustee has yet to be appointed.





Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On March 26, 2008, each of John Norris, Robert Dowling, Thomas Kraemer, William Nitze, Robert Walther, Alfred Knapp, Randall Rahm and Bryan Sherbacow, (the "Resignees"), constituting the entire Board of Directors of the Company, voluntarily resigned as a Director, from any committees on which such Resignee served and from any other positions held with the Company or its affiliates. The Company is not aware of any matters of disagreement concerning operations, policies or practices between the Company and any of the Resignees causing such Resignee's decision to resign.





Item 9.01 Financial Statements and Exhibits
(d) Exhibit

10.1 Termination of the Joint Marketing Agreement, dated April 20, 2007, by and between Ethanex Energy, Inc. and Buhler Inc.