Exhibit 21

Subsidiaries of Registrant

| Company                                                                                                                                            |  | State of    Jurisdiction  ofOrganization |  | Percentage  of Voting  Securities  Owned   |
|----------------------------------------------------------------------------------------------------------------------------------------------------|--|------------------------------------------|--|----------------------------------------------------------------|
|                                                                                                                                               |  |                                          |  |                                                                |
| Southeast Power Corporation                                                                                                                        |  | Florida                                  |  | 100%                                                           |
| Bayswater Development Corporation                                                                                                                  |  | 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, 2004.

 

 

  |

----