ITEM 8.01 OTHER EVENTS

On May 07, 2008, the Company's tank line subsidiary entered into an agreement to sell approximately 1.5 acres of land located in Escambia County, Florida for $2,375,000. The contract was subject to a 120 day due diligence period during which the buyer could cancel the contract for any reason. Through a series of Contract Amendments, the study period was extended until December 15, 2008 and the Purchase Price was reduced to $2,100,000. On December 12, 2008, the Purchaser notified the Company of their intent to terminate the contract and forfeit the $10,000 escrow deposit.