Item 1.03

Bankruptcy or Receivership

On June 11, 2009, the Company's subsidiary, Just-Rite Supply, Inc. (the "Just-Rite") entered into an Assignment for the Benefit of Creditors (the "Assignment") with Michael P. Phelan, Vice President of Michael Moecker and Associates (the "Assignee"). The Assignment was considered an event of default under the Line of Credit, resulting in the execution of the Forbearance Agreement.

The Assignment is attached as Exhibit 10.2 hereto. As of June 11, 2009 the Assignment transferred all assets, subject to any liabilities thereof, of Just-Rite to the Assignee, a non-affiliated party, who will wind down, sell and liquidate the assets of Just-Rite for the benefit of creditors in accordance with the laws of the State of Florida. The Assignment is subject to the jurisdiction of the Seventeenth Judicial Court for Broward County Florida. The Company will no longer operate any of the assets or business of Just-Rite from the date of the Assignment.

Item 9.01