Exhibit 21

Subsidiaries of Registrant

| Company                                                                                                                    |        | State of  Jurisdiction  ofOrganization |        | Percentage  of Voting  Securities  Owned   |
|----------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------|--------|----------------------------------------------------------------|
|                                                                                                                            |        |                                        |        |                                                                |
|                                                                                                                       |   |                                   |   |                                                           |
| Southeast Power Corporation                                                                                                |        | Florida                                |        | 100%                                                           |
| Bayswater Development Corporation                                                                                          |        |                                   |        |                                                           |
|  (Formerly Southeast Real Estate Resources    Inc.)                                                         |        | Florida                                |        | 100%                                                           |
| Subsidiaries of Bayswater Development   Corporation                                                                   |        |                                   |        |                                                           |
|     Country Club Point of Brevard,  Inc.                                                               |        | Florida                                |        | 100%                                                           |
|     Riomar of Brevard, Inc.                                                                            |        | Florida                                |        | 100%                                                           |
|     Cape Club of Brevard, Inc.                                                                         |        | Florida                                |        | 100%                                                           |
|     Florida Coastal Homes, Inc.                                                                        |        | Florida                                |        | 100%                                                           |
|     Oak Park of Brevard, Inc.                                                                          |        | Florida                                |        | 100%                                                           |
|     Pineapple  House of Brevard, Inc.                                                                       |        | Florida                                |        | 100%                                                           |
| Florida Transport Corporation                                                                                              |        | Florida                                |        | 100%                                                           |
| 7-1-99 Corp. (inactive)                                                                                                    |        | Florida                                |        | 100%                                                           |
| Steeple Rock Mining Company (inactive)                                                                                     |        | Florida                                |        | 100%                                                           |
| Mamba Engineering Company, Inc. (inactive)                                                                                 |        | Florida                                |        | 100%                                                           |
|                                                                                                                            |        |                                   |        |                                                           |
| All of the above subsidiaries are included in the  consolidated financial  statements of the Company at December 31, 2002. |