| U.S.      SECURITIES AND EXCHANGE COMMISSIONWashington,D.C. |
|-------------------------------------------------------------|

| Form      10-Q |
|----------------|

| (Mark one) |
|------------|

| [ X ] | Quarterly Report Pursuant to Section 13 or 15(d) of the Securities      Exchange Act of 1934 for the quarterly period ended September 30,      2009 |
|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------|

| OR |
|----|

| [ ] | Transition Report Pursuant to Section 13 or 15(d) of the Securities      Exchange Act of 1934 |
|-----|-----------------------------------------------------------------------------------------------|

| Commission File No.      0-29417 |
|----------------------------------|

|   |
|--------|

|   | ALL Fuels & Energy      Company                    |   |
|--------|--------------------------------------------------------|--------|
|   | (Exact name of registrant as specified in its charter) |   |

|   |
|--------|

|   | DELAWARE |   | 62-1581902 |   |
|--------|----------|--------|------------|--------|

|   | (State or Other Jurisdiction ofincorporation or organization) |   | (I.R.S. EmployerIdentification Number) |   |
|--------|---------------------------------------------------------------|--------|----------------------------------------|--------|

|   |
|--------|

|   | 6165 N.W. 86th Street, Johnston, Iowa 50131 |   |
|--------|---------------------------------------------|--------|

|   | (Address of principal executive offices, including zip code) |   |
|--------|--------------------------------------------------------------|--------|

|   | (515) 331-6509 |   |
|--------|----------------|--------|

|   | (Issuer’s telephone number, including area code) |   |
|--------|--------------------------------------------------------|--------|

|   |
|--------|

| Indicate by check mark whether the registrant (1) has filed all      reports required to be filed by Section 13 or 15(d) of the Securities      Exchange Act of 1934 during the preceding 12 months (or for such shorter      period that the registrant was required to file such reports), and (2) has      been subject to such filing requirements for the past 90 days. Yes [ X ]      No [ ] |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Indicate by check mark whether the registrant is a large accelerated      filer, an accelerated filer, a non-accelerated filer, or a smaller      reporting company. See the definitions of "large accelerated filer,"      "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the      Exchange Act. (Check one): |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Large accelerated filer [ ] |   | Accelerated filer [ ] |
|-----------------------------|--------|-----------------------|

| Non-accelerated filer [ ] (Do not check if a smaller reporting      company) |   | Smaller reporting company [ X ] |
|------------------------------------------------------------------------------|--------|---------------------------------|

| Indicate by check mark whether the registrant is a shell company (as      defined in Rule 12b-2 of the Exchange Act).Yes [ ] No [ X ] |
|---------------------------------------------------------------------------------------------------------------------------------------|

| As of November 20, 2009, there were 50,624,386 shares of the issuer’s      common stock outstanding. |
|------------------------------------------------------------------------------------------------------------|

| PART I - FINANCIAL      INFORMATION |
|-------------------------------------|

| Item 1. Financial      Statements |
|-----------------------------------|

| INDEX TO FINANCIAL      STATEMENTS |
|------------------------------------|

|   | Page |
|--------|------|

| ALL Fuels & Energy Company |
|--------------------------------|

| Consolidated Balance Sheets as of September 30, 2009 (unaudited), and      December 31, 2008 (audited) | 3 |
|--------------------------------------------------------------------------------------------------------|---|

| Consolidated Statements of Operations for the Three Months and Nine      Months Ended September 30, 2009 (unaudited) and 2008 (unaudited), and the      Period from Commencement of Development Stage (June 7, 2004) to September      30, 2009 (unaudited) | 4 |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---|

| Consolidated Statements of Cash Flows for the Nine Months Ended      September 30, 2009 (unaudited) and 2008 (unaudited), and the Period from      Commencement of Development Stage (June 7, 2004) to September 30, 2009      (unaudited) | 5 |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---|

| Notes to Consolidated Financial Statements | 7 |
|--------------------------------------------|---|

|   | ALL FUELS & ENERGY      COMPANY |   |
|--------|-------------------------------------|--------|

|   | (a development stage      company) |   |
|--------|------------------------------------|--------|

|   | CONSOLIDATED BALANCE      SHEETS |   |
|--------|----------------------------------|--------|

|   | September 30, 2009, and December 31,      2008 |   |
|--------|------------------------------------------------|--------|

|   | 9/30/09unaudited |   | 12/31/08 |
|--------|------------------|--------|----------|

| ASSETS |
|--------|

| Current assets |
|----------------|

|   | Cash and cash equivalents | $29,903 |   | $314,224 |
|--------|---------------------------|---------|--------|----------|

|   | Prepaid expenses | 2,446 |   | 7,439 |
|--------|------------------|-------|--------|-------|

|   | Total current assets | 32,349 |   | 321,663 |
|--------|----------------------|--------|--------|---------|

| Property and equipment - at cost |
|----------------------------------|

|   | Equipment | 3,333 |   | 1,729 |
|--------|-----------|-------|--------|-------|

|   |   | 3,333 |   | 1,729 |
|--------|--------|-------|--------|-------|

|   | Less accumulated depreciation | (958) |   | (815) |
|--------|-------------------------------|-------|--------|-------|

|   | Total property and equipment - net | 2,375 |   | 914 |
|--------|------------------------------------|-------|--------|-----|

|   | Total assets | $34,724 |   | $322,577 |
|--------|--------------|---------|--------|----------|

| LIABILITIES AND STOCKHOLDERS’ EQUITY(DEFICIT) |
|-----------------------------------------------------|

| Current liabilities |
|---------------------|

|   | Accounts payable and accrued expenses | $149,929 |   | $140,458 |
|--------|---------------------------------------|----------|--------|----------|

|   | Note payable - related party | 50,000 |   | --- |
|--------|------------------------------|--------|--------|-----|

|   | Total current liabilities | 199,929 |   | 140,458 |
|--------|---------------------------|---------|--------|---------|

| Stockholders’ equity (deficit) |
|--------------------------------------|

|   | Common stock, $.01 par value; 80,000,000 shares authorized,      50,624,386 and 51,624,386 shares issued and outstanding | 506,245 |   | 516,245 |
|--------|--------------------------------------------------------------------------------------------------------------------------|---------|--------|---------|

|   | Additional paid-in capital | 16,170,264 |   | 16,053,072 |
|--------|----------------------------|------------|--------|------------|

|   | Treasury stock, at cost | (150,000) |   | (150,000) |
|--------|-------------------------|-----------|--------|-----------|

|   | Receivable from shareholder | (50,000) |   | (50,000) |
|--------|-----------------------------|----------|--------|----------|

|   | Accumulated deficit | (6,423,944) |   | (6,423,944) |
|--------|---------------------|-------------|--------|-------------|

|   | Deficit accumulated during the development stage | (10,199,770) |   | (9,763,254) |
|--------|--------------------------------------------------|--------------|--------|-------------|

|   | Total stockholders’ equity (deficit) | (147,205) |   | 182,119 |
|--------|--------------------------------------------|-----------|--------|---------|

|   | Total liabilities and stockholders’ equity (deficit) | $34,724 |   | $322,577 |
|--------|------------------------------------------------------------|---------|--------|----------|

| The accompanying notes are an integral part of these    statements. |
|---------------------------------------------------------------------|

|   | ALL FUELS & ENERGY      COMPANY |   |
|--------|-------------------------------------|--------|

|   | (a development stage      company) |   |
|--------|------------------------------------|--------|

|   | CONSOLIDATED STATEMENTS OF      OPERATIONS |   |
|--------|--------------------------------------------|--------|

|   | For the Three Months and Nine Months      Ended September 30, 2009 and 2008, and the Period from Commencement of      Development Stage (June 7, 2004) to September 30, 2009 |   |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|

|   | Three Months Ended 9/30, |   | Nine Months Ended 9/30, |   |
|--------|--------------------------|--------|-------------------------|--------|

|   | 2009(unaudited) |   | 2008(unaudited) |   | 2009(unaudited) |   | 2008(unaudited) |   | Period fromCommence-ment of DevelopmentStage (June 7,2004) to 9/30/09(unaudited) |
|--------|-----------------|--------|-----------------|--------|-----------------|--------|-----------------|--------|----------------------------------------------------------------------------------|

| Revenues | $--- |   | $--- |   | $8,092 |   | $--- |   | $8,092 |
|----------|------|--------|------|--------|--------|--------|------|--------|--------|

| Operating Costs and Expenses |   |   |   |   |   |   |   |   |   |
|------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|

|   | Consulting | 1,050 |   | 82,985 |   | 92,435 |   | 871,000 |   | 7,716,335 |
|--------|------------|-------|--------|--------|--------|--------|--------|---------|--------|-----------|

|   | Legal and professional | 19,164 |   | 18,721 |   | 66,153 |   | 224,936 |   | 1,184,719 |
|--------|------------------------|--------|--------|--------|--------|--------|--------|---------|--------|-----------|

|   | Impairment charge | --- |   | 193,720 |   | --- |   | 193,720 |   | 333,540 |
|--------|-------------------|-----|--------|---------|--------|-----|--------|---------|--------|---------|

|   | General and administrative | 74,669 |   | 127,810 |   | 238,876 |   | 450,171 |   | 1,479,389 |
|--------|----------------------------|--------|--------|---------|--------|---------|--------|---------|--------|-----------|

|   | Total operating expenses | 126,883 |   | 423,236 |   | 397,464 |   | 1,739,827 |   | 10,713,983 |
|--------|--------------------------|---------|--------|---------|--------|---------|--------|-----------|--------|------------|

| Other income (expense) |   |   |   |   |   |   |   |   |   |
|------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|

|   | Beneficial conversion expense | (50,000) |   | --- |   | (50,000) |   | --- |   | (50,000) |
|--------|-------------------------------|----------|--------|-----|--------|----------|--------|-----|--------|----------|

|   | Interest expense | (794) |   | (6,150) |   | (794) |   | (19,777) |   | (57,609) |
|--------|------------------|-------|--------|---------|--------|-------|--------|----------|--------|----------|

|   | Interest income | 10 |   | 1,312 |   | 134 |   | 6,775 |   | 51,328 |
|--------|-----------------|----|--------|-------|--------|-----|--------|-------|--------|--------|

|   | Rental income | --- |   | 10,000 |   | --- |   | 30,000 |   | 66,250 |
|--------|---------------|-----|--------|--------|--------|-----|--------|--------|--------|--------|

|   | Loss on sale of land | --- |   | --- |   | --- |   | --- |   | (1,278) |
|--------|----------------------|-----|--------|-----|--------|-----|--------|-----|--------|---------|

|   | Equity loss in subsidiary | --- |   | (145,446) |   | (14,485) |   | (150,037) |   | (233,340) |
|--------|---------------------------|-----|--------|-----------|--------|----------|--------|-----------|--------|-----------|

|   | Total other income (expense) | (50,784) |   | (140,284) |   | (65,145) |   | (133,039) |   | (224,649) |
|--------|------------------------------|----------|--------|-----------|--------|----------|--------|-----------|--------|-----------|

| Net loss | $(145,667) |   | $(563,520) |   | $(454,517) |   | $(1,872,866) |   | $(10,930,540) |
|----------|------------|--------|------------|--------|------------|--------|--------------|--------|---------------|

| Income (loss) per share | $(0.00) |   | $(0.01) |   | $(0.01) |   | $(0.04) |   |   |
|-------------------------|---------|--------|---------|--------|---------|--------|---------|--------|--------|

| Weighted average number of shares outstanding (basic and      diluted) | 50,624,386 |   | 51,693,619 |   | 51,179,941 |   | 51,327,269 |   |   |
|------------------------------------------------------------------------|------------|--------|------------|--------|------------|--------|------------|--------|--------|

| The accompanying notes are an integral part of these    statements. |
|---------------------------------------------------------------------|

|   | ALL FUELS & ENERGY      COMPANY |   |
|--------|-------------------------------------|--------|

|   | (a development stage      company) |   |
|--------|------------------------------------|--------|

|   | CONSOLIDATED STATEMENTS OF CASH      FLOWS |   |
|--------|--------------------------------------------|--------|

|   | For the Nine Months Ended September      30, 2009 and 2008, and the Period from Commencement of Development Stage      (June 7, 2004) to September 30, 2009 |   |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|

|   | Nine Months Ended September 30, |   |
|--------|---------------------------------|--------|

|   | 2009(unaudited) |   | 2008(unaudited) |   | Period fromCommencement of DevelopmentStage (June 7,2004) to 9/30/09(unaudited) |
|--------|-----------------|--------|-----------------|--------|---------------------------------------------------------------------------------|

| CASH FLOWS FROM OPERATING ACTIVITIES |   |   |   |   |   |
|--------------------------------------|--------|--------|--------|--------|--------|

| Net loss | $(454,517) |   | $(1,872,866) |   | $(10,912,540) |
|----------|------------|--------|--------------|--------|---------------|

|   | Adjustments to reconcile net loss to cash used foroperating activities: |   |   |   |   |   |
|--------|-------------------------------------------------------------------------|--------|--------|--------|--------|--------|

|   | Loss on sale of land | --- |   | --- |   | 1,278 |
|--------|----------------------|-----|--------|-----|--------|-------|

|   | Loss on disposition of fixed assets | 187 |   | --- |   | 187 |
|--------|-------------------------------------|-----|--------|-----|--------|-----|

|   | Depreciation and amortization | 546 |   | 1,613 |   | 6,884 |
|--------|-------------------------------|-----|--------|-------|--------|-------|

|   | Equity loss in subsidiary | --- |   | 150,037 |   | --- |
|--------|---------------------------|-----|--------|---------|--------|-----|

|   | Options issued for compensation | 57,192 |   | 276,408 |   | 6,999,585 |
|--------|---------------------------------|--------|--------|---------|--------|-----------|

|   | Non-cash beneficial conversion expense | 50,000 |   | --- |   | 50,000 |
|--------|----------------------------------------|--------|--------|-----|--------|--------|

|   | Stock issued for services and compensation | --- |   | 591,400 |   | 1,176,345 |
|--------|--------------------------------------------|-----|--------|---------|--------|-----------|

|   | Impairment charge | --- |   | --- |   | 333,540 |
|--------|-------------------|-----|--------|-----|--------|---------|

|   | Increase (decrease) in prepaids | 4,993 |   | 20,988 |   | (90,266) |
|--------|---------------------------------|-------|--------|--------|--------|----------|

|   | Increase in unearned rental income | --- |   | 10,000 |   | --- |
|--------|------------------------------------|-----|--------|--------|--------|-----|

|   | Increase in accounts payable | (9,472) |   | 97,068 |   | 74,299 |
|--------|------------------------------|---------|--------|--------|--------|--------|

| Net cash used for operating activities | (332,127) |   | (531,632) |   | (2,360,688) |
|----------------------------------------|-----------|--------|-----------|--------|-------------|

| The accompanying notes are an integral part of these    statements. |
|---------------------------------------------------------------------|

|   | ALL FUELS & ENERGY      COMPANY |   |
|--------|-------------------------------------|--------|

|   | (a development stage      company) |   |
|--------|------------------------------------|--------|

|   | CONSOLIDATED STATEMENTS OF CASH      FLOWS |   |
|--------|--------------------------------------------|--------|

|   | For the Six Months Ended June 30,      2009 and 2008, and the Period from Commencement of Development Stage (June      7, 2004) to June 20, 2009 (cont.) |   |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------|--------|

|   | Six Months Ended June 30, |   |
|--------|---------------------------|--------|

|   | (2009)(unaudited) |   | 2008(unaudited) |   | Period fromCommencement of DevelopmentStage (June 7,2004) to 6/30/09(unaudited) |
|--------|-------------------|--------|-----------------|--------|---------------------------------------------------------------------------------|

| CASH FLOWS FROM INVESTING ACTIVITIES |   |   |   |   |   |
|--------------------------------------|--------|--------|--------|--------|--------|

|   | Purchase of land | --- |   | --- |   | (951,238) |
|--------|------------------|-----|--------|-----|--------|-----------|

|   | Investment in subsidiary | --- |   | (150,037) |   | --- |
|--------|--------------------------|-----|--------|-----------|--------|-----|

|   | Increase in accrued liabilities - related party | --- |   | --- |   | 40,056 |
|--------|-------------------------------------------------|-----|--------|-----|--------|--------|

|   | Collections from receivable | --- |   | --- |   | --- |
|--------|-----------------------------|-----|--------|-----|--------|-----|

|   | Proceeds from sale of land | --- |   | --- |   | 461,960 |
|--------|----------------------------|-----|--------|-----|--------|---------|

|   | Purchase of office equipment | (2,194) |   | (636) |   | (4,160) |
|--------|------------------------------|---------|--------|-------|--------|---------|

|   | Payments on construction-in-progress | --- |   | (6,696) |   | (193,720) |
|--------|--------------------------------------|-----|--------|---------|--------|-----------|

| Net cash used in investing activities | (2,194) |   | (157,369) |   | (647,102) |
|---------------------------------------|---------|--------|-----------|--------|-----------|

| CASH FLOWS FROM FINANCING ACTIVITIES |   |   |   |   |   |
|--------------------------------------|--------|--------|--------|--------|--------|

|   | Proceeds from sale of common stock for cash | --- |   | 143,269 |   | 2,653,623 |
|--------|---------------------------------------------|-----|--------|---------|--------|-----------|

|   | Principal payments on related party advances | --- |   | --- |   | (3,988) |
|--------|----------------------------------------------|-----|--------|-----|--------|---------|

|   | Proceeds from notes payable - related party | 50,000 |   | --- |   | 50,000 |
|--------|---------------------------------------------|--------|--------|-----|--------|--------|

|   | Proceeds from long-term debt, net of deferred borrowingcosts | --- |   | --- |   | 483,120 |
|--------|--------------------------------------------------------------|-----|--------|-----|--------|---------|

|   | Purchase of treasury stock | --- |   | --- |   | (150,000) |
|--------|----------------------------|-----|--------|-----|--------|-----------|

|   | Contributions from shareholders | --- |   | --- |   | 950 |
|--------|---------------------------------|-----|--------|-----|--------|-----|

| Net cash provided by financing activities | 50,000 |   | 143,269 |   | 3,033,705 |
|-------------------------------------------|--------|--------|---------|--------|-----------|

|   |
|--------|

| NET CHANGE IN CASH | (284,321) |   | (545,732) |   | 25,915 |
|--------------------|-----------|--------|-----------|--------|--------|

| Cash, beginning of period | 314,224 |   | 612,888 |   | 3,988 |
|---------------------------|---------|--------|---------|--------|-------|

| Cash, end of period | $29,903 |   | $67,156 |   | $29,903 |
|---------------------|---------|--------|---------|--------|---------|

| The accompanying notes are an integral part of these    statements. |
|---------------------------------------------------------------------|

|   | ALL FUELS & ENERGY      COMPANY |   |
|--------|-------------------------------------|--------|

|   | (a development stage      company) |   |
|--------|------------------------------------|--------|

|   | NOTES TO CONSOLIDATED FINANCIAL      STATEMENTS |   |
|--------|-------------------------------------------------|--------|

|   | September 30, 2009(unaudited) |   |
|--------|-------------------------------|--------|

| Note 1. Summary of Significant AccountingPolicies |
|---------------------------------------------------|

| Basis of Presentation |
|-----------------------|

| The accompanying unaudited interim financial statements of ALL Fuels      & Energy Company (the “Company”) have been prepared by the Company in      accordance with accounting principles generally accepted in the United      States of America, pursuant to the Securities and Exchange Commission      rules and regulations. In management’s opinion all adjustments necessary      for a fair presentation of the results for interim periods have been      reflected in the interim financial statements. The results of operations      for any interim period are not necessarily indicative of the results for a      full year. All adjustments to the financial statements are of a normal      recurring nature. |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Certain information and footnote disclosures normally included in      financial statements prepared in accordance with generally accepted      accounting principles have been condensed or omitted. Such disclosures are      those that would substantially duplicate information contained in the most      recent audited financial statements of the Company, such as significant      accounting policies and stock options. Management presumes that users of      the interim statements have read or have access to the audited financial      statements and notes thereto included in the Company’s Annual Report on      Form 10-K for the year ended December 31,2008. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Note 2. Management’s Plans forLiquidity |
|-----------------------------------------------|

| Recent loans from a director have provided the Company with capital      to sustain its operations. However, the Company will require additional      funds, including further loans from a director, if any, in order to      sustain its operations through the remainder of 2009 and the first half of      2010. The Company will require substantial additional capital to purchase      one or more existing ethanol production facilities or to pursue other      business opportunities. The Company believes it will be able to secure the      financing, in the form of debt, equity or a combination thereof, necessary      to complete these opportunities. To this end, the Company has retained      Trinity Capital, Los Angeles, California, as its investment banker. To      date, the Company has not received a commitment for an equity investment      or a loan in any amount. |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| During the remainder of 2009, the Company intends to commit its      available capital, if any, to its pursuit of the acquisition of an      existing ethanol production facility and its Ethanol Group activities and      only nominal amounts of its available capital to each of its recently      announced enzyme and polymer pipe ventures. It is likely that the enzyme      venture will require approximately $1.5 million over the next 24 months to      complete the development of up to ten market-ready enzymes. See Note 6      below for additional information concerning the enzyme venture. It is      likely that the polymer pipe venture will require approximately $3 million      over the next 12 months to commence pipe manufacturing and sales      operations. See Note 7 below for additional information concerning the      polymer pipe business opportunity. The needed funding will be sought from      third parties. |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Note 3. Prepaid Expenses |
|--------------------------|

| At September 30, 2009, the Company had $2,446 of prepaid      expenses. |
|-------------------------------------------------------------------------|

| At September 30, 2008, the Company had prepaid expenses of $31,649,      of which $29,807 relates to expenses incurred in connection with its      efforts in acquiring certain ethanol-related businesses. In future      periods, prepaid expenses associated with successful acquisitions will be      capitalized, while those associated with unsuccessful acquisition efforts      will be expensed. The remaining $1,842 represents prepaid    insurance. |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Note 4. Land, Equipment and Construction in  Progress |
|-------------------------------------------------------|

| Through September 30, 2008, the Company had paid $193,720 in      construction-related expenses associated with the Company’s proposed      ethanol production facility to be constructed in Manchester, Iowa. In      November 2008, this land was sold and the construction-related expenses      written-off at than time. |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Note 5. Capital Stock |
|-----------------------|

| Stock for Services |
|--------------------|

| During the first nine months of 2009, the Company issued no shares to      consultants for services. |
|------------------------------------------------------------------------------------------------------|

| During the first nine months of 2008, the Company issued a total of      1,000,000 shares of common stock to third-party consultants for services,      resulting in $540,000 in non-cash compensation expense included in      professional and legal expenses and consulting fees in the accompanying      statements of operations. There are no performance commitments or      penalties for non-performance, therefore the Company recorded the expense      at the date of issuance. |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| During the first nine months of 2009, the Company issued no shares to      directors for bonuses. |
|---------------------------------------------------------------------------------------------------|

| During the first nine months of 2008, the Company issued a total of      75,000 shares of common stock to three of its directors as bonuses. The      issuance of these shares resulted in $41,400 in legal expenses and      consulting fees in the accompanying statement of operations. There are no      performance commitments or penalties for non-performance, therefore the      Company recorded the expense at the date ofissuance. |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Stock Issued on Exercise of Options |
|-------------------------------------|

| During the first nine months of 2008, the Company issued a total of      405,000 shares of common stock on the exercise of options. These shares      were issued for a total of $143,269 incash. |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Cancellation of Common Stock |
|------------------------------|

| In June 2009, a total of 1,000,000 shares of Company common stock      were cancelled; such shares were tendered for cancellation by two      third-party consultants. |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| In January 2008, a total of 1,238,100 shares of Company common stock      were cancelled, pursuant a settlementagreement. |
|---------------------------------------------------------------------------------------------------------------------------|

| Note 6. AFSE Enzyme, LLC |
|--------------------------|

| The Company recorded its investment in AFSE Enzyme, LLC on the equity      method. Under this method, the Company recorded its initial investment at      its cost and increased the investment by any additional funds invested. It      then adjusted the amount of the investment by its share of the investee’s      earnings or losses. Through 2008, the Company had invested $218,855 in the      venture. During the fourth quarter of 2008, the Company ended its      involvement in AFSE Enzyme and began to pursue the project without using      AFSE Enzyme. Due to there being significant uncertainty that the Company      will recover its investment, the Company wrote off the remaining      investment in AFSE Enzyme during 2008. |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| During the first nine months of 2009, the Company expended $-0- in      furtherance of its enzyme development efforts. |
|------------------------------------------------------------------------------------------------------------------------|

| The Company’s enzyme’s development activities are intended to produce      one or more “super” enzymes that would serve to produce ethanol from      cellulosic plant material. The Company believes such an enzyme product      would, in theory, reduce ethanol productions costs by up to 50% compared      to traditional corn-based production. In addition, these enzyme      development activities are to produce one or more additive enzyme products      that would serve to enhance corn ethanol production by 5% to 10%. It is      likely that approximately $1.5 million will be required over the next 24      months to complete the development of up to ten market-ready enzymes. The      needed funding will be sought from thirdparties. |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Note 7. Polymer Pipe Opportunity |
|----------------------------------|

| During the third quarter of 2008, the Company entered into an ethanol      alliance agreement with a private Iowa company, whereby the parties      intended to form a series of entities for the purpose of engaging in      numerous businesses related to the ethanol industry. This business      relationship has been abandoned. However, the Company continues to pursue      pipe-related opportunities which have been presented to it. Any funding      needed for this business opportunity will be sought from third      parties. |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Note 8. Ethanol Group |
|-----------------------|

| During the last half of 2008, the Company created a new business      division known as "ALL Fuels Ethanol Group". The Company believes there      exist numerous opportunities to leverage its ethanol expertise to become      an active participant in the ethanol production industry through this      division. Ethanol Group was created in response to the ethanol industry's      current high level of stress. During the first nine months of 2009,      Ethanol Group obtained its first contract and recognized its first      revenues pursuant thereto. Under this contract, Ethanol Group provided an      assessment report to a lending institution concerning an existing ethanol      production facility of one of itsborrowers. |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Note 9. Loan from Director |
|----------------------------|

| Loan from Director |
|--------------------|

| In August 2009, a director loaned the Company $50,000 to pay for      working capital and pay certain operating expenses. This loan is evidenced      by a convertible promissory note that bears interest at ten percent per      annum and is payable on demand. The director may convert his note into      shares of common stock at a conversion rate of one share for each for      every $.01 of indebtedness so converted. Therefore, the Company recorded a      beneficial conversion expense in the amount of $50,000, which represents      the difference between the conversion price and the fair value of the      common stock on the commitment date of the note. This director has      indicated that he will not demand payment of this loan until such time as      the Company has adequate funds with which to repay the  loan. |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Note 10. Subsequent Event |
|---------------------------|

| Loan from Director |
|--------------------|

| In October 2009, a director loaned the Company $10,000. This loan is      evidenced by a convertible promissory note that bears interest at ten      percent per annum, is payable on demand and may be converted into shares      of the Company’s common stock at the rate of one share for every $.01 of      indebtedness so converted. This director has indicated that he will not      demand payment of this loan until such time as the Company has adequate      funds with which to repay the loan. The funds received will be used for      working capital and to pay certain operatingexpenses. |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Item 2. Management’s Discussion and Analysis of Financial Condition      and Results of Operations. |
|-----------------------------------------------------------------------------------------------------------|

| General |
|---------|

| The ethanol industry is currently recovering from a period of a high      level of stress as the industry attempts to stabilize itself in the wake      of the tumult caused by the recent period of historically-high oil prices,      during the first half of 2008, immediately followed by a sudden drop from      those historically-high prices. In the current climate, we believe there      exist numerous opportunities to leverage our company's ethanol expertise      to become an active participant in the ethanol production    industry. |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Despite the ethanol industry’s great degree of uncertainty, we      continue to pursue the acquisition of one or more operating ethanol      production facilities. There is no assurance that we will be able to      obtain the funding needed to purchase afacility. |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| In response to the ethanol industry's current state, we created a new      business division known as "ALL Fuels Ethanol Group". We believe there      exist numerous opportunities to leverage our ethanol expertise to become      an active participant in the ethanol production industry through this      division. Ethanol Group was created in response to the ethanol industry's      current high level of stress. Recently, Ethanol Group obtained its first      contract, pursuant to which we provided an assessment report to a lending      institution concerning one of its debtor's existing ethanol production      facility. |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| For the past year, we have been pursuing an agreement with a leading      research institution for the development and commercialization of an      ethanol "super" enzyme, producing cellulosic ethanol with a theoretical      savings of up to 50% reduction in ethanol production costs. Ethanol      produced by such a super enzyme would be manufactured from sustainable      non-food biomass and surplus waste products, such as wood chips, household      garbage and sugarcane waste, which are abundantly available domestically      and internationally. One of the key benefits would be the elimination of      the cost of the more traditional component ethanol feed-stock, corn. There      is no assurance that we will be successful in developing and      commercializing any enzyme products. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Critical Accounting Policies |
|------------------------------|

| While we believe that the factors considered provide a meaningful      basis for the accounting policies applied in the preparation of the      condensed consolidated financial statements, we cannot guarantee that our      estimates and assumptions will be accurate. If such estimates and      assumptions prove to be inaccurate, we may be required to make adjustments      to these estimates in future periods. |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Litigation and Tax      Assessments. Should we become involved in lawsuits, we intend to      assess the likelihood of any adverse judgments or outcomes of any of these      matters as well as the potential range of probable losses. A determination      of the amount of accrual required, if any, for these contingencies will be      made after careful analysis of each matter. The required accrual may      change from time to time, due to new developments in any matter or changes      in approach (such as a change in settlement strategy) in dealing with      these matters. |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Additionally, in the future, we may become engaged in various tax      audits by federal and state governmental authorities incidental to our      business activities. We anticipate that we will record reserves for any      estimated probable losses for any suchproceeding. |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Stock-Based      Compensation. We account for stock-based compensation based on the      provisions of Statement of Financial Accounting Standards No. 123. In      December 2004, the Financial Accounting Standards Board issued Statement      of Financial Accounting Standards No. 123 (Revised 2004), Share-Based      Payment, (FAS-123R). This statement replaces FAS-123, Accounting for      Stock-Based Compensation, supercedes APB Opinion No. 25, Accounting for      Stock Issued to Employees, and amends FAS-95, Statement of Cash Flows.      FAS-123R requires companies to apply a fair-value-based measurement method      in accounting for share-based payment transactions with employees and to      record compensation cost for all stock awards granted after the required      effective date and for awards modified, repurchased or cancelled after      that date. The scope of FAS-123R encompasses a wide range of share-based      compensation arrangements, including share options, restricted share      plans, performance-based awards, share appreciation rights and employee      share purchase plans. |
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| Newly issued      accounting standards. On January 1, 2009, we adopted ASC 810      “Consolidations”(formerly SFAS 160 “Non-controlling Interests in Financial      Statements--an amendment of ARB No. 51,” (SFAS 160). SFAS No. 160 amends      Accounting Research Bulletin No. 51, “Consolidated Financial Statements,”      to establish accounting and reporting standards for the non-controlling      interest in a subsidiary and for the deconsolidation of a subsidiary. This      standard defines a non-controlling interest, previously called a minority      interest, as the portion of equity in a subsidiary not attributable,      directly or indirectly, to a parent. SFAS No.160 requires, among other      items, that a non-controlling interest be included in the consolidated      statement of financial position within equity separate from the parent’s      equity; consolidated net income to be reported at amounts inclusive of      both the parent’s and non-controlling interest’s shares and, separately,      the amounts of consolidated net income attributable to the parent and      non-controlling interest all on the consolidated statement of operations;      and if a subsidiary is deconsolidated, any retained non-controlling equity      investment in the former subsidiary be measured at fair value and a gain      or loss be recognized in net income based on such fair value. The      presentation and disclosure requirements of SFAS No. 160 were applied      retrospectively. Other than the change in presentation of non-controlling      interests, the adoption of SFAS No. 160 had no impact on the Financial      Statements. |
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| In April 2009, the Financial Accounting Standards Board (“FASB”)      issued FSP FAS No. 141(R)-1, “Accounting for Assets Acquired and      Liabilities Assumed in a Business Combination That Arise from      Contingencies” (FSP FAS No. 141(R)-1). This pronouncement amends SFAS No.      141-R to clarify the initial and subsequent recognition, subsequent      accounting, and disclosure of assets and liabilities arising from      contingencies in a business combination. FSP SFAS No. 141(R)-1 requires      that assets acquired and liabilities assumed in a business combination      that arise from contingencies be recognized at fair value, as determined      in accordance with SFAS No. 157, if the acquisition-date fair value can be      reasonably estimated. If the acquisition-date fair value of an asset or      liability cannot be reasonably estimated, the asset or liability would be      measured at the amount that would be recognized in accordance with FASB      Statement No. 5, “Accounting for Contingencies” (SFAS No. 5), and FASB      Interpretation No. 14, “Reasonable Estimation of the Amount of a Loss.”      FSP SFAS No. 141(R)-1 became effective for the Registrants as of January      1, 2009. As the provisions of FSP FAS No. 141(R)-1 are applied      prospectively to business combinations with an acquisition date on or      after the guidance became effective, the impact on our financials cannot      be determined until the transactionsoccur. |
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| In April 2009, the FASB issued ASC 820 “Fair Value Measurements and      Disclosures (formerly FSP FAS No. 157-4, “Determining Fair Value When the      Volume and Level of Activity for the Asset or Liability Have Significantly      Decreased and Identifying Transactions That Are Not Orderly”) (FSP FAS No.      157-4), which provides additional guidance for applying the provisions of      SFAS No. 157. SFAS No. 157 defines fair value as the price that would be      received to sell an asset or paid to transfer a liability in an orderly      transaction between market participants under current market conditions.      This FSP requires an evaluation of whether there has been a significant      decrease in the volume and level of activity for the asset or liability in      relation to normal market activity for the asset or liability. If there      has, transactions or quoted prices may not be indicative of fair value and      a significant adjustment may need to be made to those prices to estimate      fair value. Additionally, an entity must consider whether the observed      transaction was orderly (that is, not distressed or forced). If the      transaction was orderly, the obtained price can be considered a relevant      observable input for determining fair value. If the transaction is not      orderly, other valuation techniques must be used when estimating fair      value. FSP FAS No. 157-4 must be applied prospectively for interim periods      ending after June 15, 2009. The application of this standard will not have      a material impact on our financialstatements. |
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| In April 2009, the FASB issued ASC 825-10-50 “Disclosure about Fair      Value of Financial Instruments” (formerly FSP FAS No. 107-1 and Accounting      Principles Board (APB) No. 28-1, “Interim Disclosures about Fair Value of      Financial Instruments”), which amends SFAS No. 107, “Disclosures about      Fair Value of Financial Instruments,” (SFAS No. 107) and APB Opinion No.      28, “Interim Financial Reporting,” respectively, to require disclosures      about fair value of financial instruments in interim financial statements,      in addition to the annual financial statements as already required by SFAS      No. 107. FSP FAS No. 107-1 and APB No. 28-1 will be required for interim      periods ending after June 15, 2009. As FSP FAS No. 107-1 and APB No. 28-1      provides only disclosure requirements; the application of this standard      will not have a material impact on our financial  statements. |
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| In April 2009, the FASB issued FSP FAS No. 115-2 and FAS No. 124-2,      “Recognition and Presentation of Other-Than-Temporary Impairments” (FSP      FAS No. 115-2 and FAS No. 124-2), which amends SFAS No. 115, “Accounting      for Certain Investments in Debt and Equity Securities” and SFAS No. 124,      “Accounting for Certain Investments Held by Not-for-Profit Organizations”.      This standard establishes a different other-than-temporary impairment      indicator for debt securities than previously prescribed. If it is more      likely than not that an impaired security will be sold before the recovery      of its cost basis, either due to the investor’s intent to sell or because      it will be required to sell the security, the entire impairment is      recognized in earnings. Otherwise, only the portion of the impaired debt      security related to estimated credit losses is recognized in earnings,      while the remainder of the impairment is recorded in other comprehensive      income and recognized over the remaining life of the debt security. In      addition, the standard expands the presentation and disclosure      requirements for other than-temporary-impairments for both debt and equity      securities. FSP FAS No. 115-2 and FAS No. 124-2 must be applied      prospectively for interim periods ending after June 15, 2009. The      application of this standard will not have a material impact on our      financial statements. |
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| In June 2009, the FASB issued Accounting Standard Codification 105      (“ASC-105”) “Generally Accepted Accounting Principles” an amendment based      on Statement of Financial Accounting Standard No. 168 “the FASB Accounting      Standards Codification and the Hierarchy of Generally Accepted Accounting      Principles”. This amendment establishes the “FASB Accounting Standards      Codification” (“Codification”) as the source of authoritative accounting      principles recognized by the FASB to be applied by non-governmental      entities in the preparation of financial statements in conformity with      GAAP. Rules and interpretive releases of the Securities and Exchange      Commission (SEC) under authority of federal securities laws are also      sources of authoritative GAAP for SEC registrants. The Codification is      effective for interim and annual periods ending on or after September 15,      2009. |
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| On May 28, 2009, the FASB issued ASC 855, Subsequent Events (formerly      SFAS 165, Subsequent Events). Although ASC 855 does not significantly      change current practice surrounding the disclosure of subsequent events,      it provides guidance on management’s assessment of subsequent events and      the requirement to disclose the date through which subsequent events have      been evaluated. ASC 855 became effective on June 30, 2009. We have      evaluated subsequent events through November 7, 2009, the date our      consolidated financial statements were available to be issued for this      Quarterly Report on Form 10-Q for the quarter ended September 30,      2009. |
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| Results of Operations - First Nine Months 2009 vs. First Nine Months      2008 |
|--------------------------------------------------------------------------------|

| Revenues.      During the First Nine Months 2009, we generated $8,092 in revenues through      our Ethanol Group division. We do not expect our Ethanol Group to generate      revenues during the remainder of 2009. We did not generate any revenues      during the First Nine Months 2008. |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Expenses.      Our cash outlays for operating expenses during the First Nine Months 2009      were $332,127, down from $531,632 for the First Nine Months 2008. Our      non-cash operating expenses, which include stock issued for services and      options issued for services, totalled $57,192 and $276,408 and beneficial      conversion expense totalled $50,000 and $-0- for the First Nine Months      2009 and the First Nine Months 2008,respectively. |
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| We have dramatically reduced our monthly operating expenses, which      including salary and professional fees, currently are approximately      $5,000. The level of such operating expenses are expected to remain at      such levels for the foreseeable future, unless we are able complete the      acquisition of an existing ethanol production facility, of which there is      no assurance. Should our Ethanol Group continue to generate business      opportunities, or should we be successful in acquiring an ethanol plant or      becoming the operator of an ethanol plant, our operating expenses will      significantly increase, although we are unable to predict the amount of      such increase. |
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| Financial Condition |
|---------------------|

| At September 30, 2009, we had $29,903 in cash and a working capital      deficit of $149,580. These positions are down from $314,224 and $181,205      at December 31, 2008, respectively. In August and October, on of our      directors made loans to us of $50,000 and $10,000, respectively. The funds      derived from these loans were used to pay operating expenses. These loans      are evidenced by separate promissory notes that bear interest at ten      percent per annum, are payable on demand and may be converted into shares      of our common stock at the rate of one share for every $.01 of      indebtedness so converted. This director has indicated that he will not      demand payment of these loans until such time as we have adequate funds      with which to repay the loans. Additional funds, including further loans      from a director, if any, will likely be necessary to sustain our      operations through the remainder of 2009 and the first half of 2010. There      is no assurance that we will be able to obtain such additional capital.      Further, as discussed below, we will be required to obtain additional      capital to pursue current business opportunities and otherwise to pursue      our complete plan of business. |
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| Management’s Plans Relating to FutureLiquidity |
|------------------------------------------------------|

| We currently have a limited cash on hand. In addition, we will      require additional capital to maximize the potential for strategic      acquisitions. We may never obtain capital for this purpose. Should we      locate an existing ethanol production facility that we are able to      acquire, we would be unable to complete any such acquisition, without      significant financing. While our management believes we will be able to      secure the financing, in the form of debt, equity or a combination      thereof, necessary to complete any such proposed acquisition, there is no      assurance that such will be the case. This uncertainty in the availability      of financing has been exacerbated by the recent severe downturn in the      U.S. economy lead by the banking and securities industries. We have      retained Trinity Capital, Los Angeles, California, as our investment      banker. In addition, we are seeking an investment partner for our enzyme      venture. To date, we have not received a commitment for an equity      investment or a loan in any amount. |
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| During the remainder of 2009, we intend to commit a portion of our      current capital to our Ethanol Group business activities and towards our      pursuing the acquisition of an existing ethanol production facility. The      needed funding will be sought from third parties. Currently, there is no      arrangement with any person for the needed funding. There is no assurance      that we will be successful in ourendeavors. |
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| Capital Expenditures |
|----------------------|

| During the First Nine Months 2009, we made $2,194 in capital      expenditures. During the First Nine Months 2008, our capital expenditures      were $7,332. We cannot predict the amount of any future capital      expenditures, if any. |
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| Item 3. Quantitative and Qualitative Disclosures About Market      Risk. |
|--------------------------------------------------------------------------|

| Not applicable. |
|-----------------|

| Item 4T. Controls and Procedures. |
|-----------------------------------|

| Our Chief Executive Officer/Acting Chief Financial Officer, after      evaluating the effectiveness of our disclosure controls and procedures, as      defined in Rule 13a-15(e) of the Securities Exchange Act of 1934 has      concluded that, as of the end of the fiscal quarter covered by this report      on Form 10-Q, our disclosure controls and procedures were effective to      provide reasonable assurances that information required to be disclosed in      the reports filed or submitted under the Securities Exchange Act of 1934      is recorded, processed, summarized and reported within the time periods      specified in the Securities and Exchange Commission’s rules and forms and      such information is accumulated and communicated to management, including      the Chief Executive Officer/Acting Chief Financial Officer, as      appropriate, to allow timely decisions regarding  disclosures. |
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| There was no change in our internal control over financial reporting      during the quarter ended September 30, 2009, that has materially affected,      or is reasonably likely to materially affect, the Company's internal      control over financial reporting. |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| PART II - OTHER INFORMATION |
|-----------------------------|

| Item 1. Legal Proceedings. |
|----------------------------|

| We are a defendant in a lawsuit filed in the Iowa District Court for      Polk County, Case No. CL-112106, styled Polymer Pipe Technology,      L.L.C. vs. ALL Energy Company, et al. The plaintiff alleges      breaches of a non-disclosure agreement and interference with prospective      business interests and seeks unspecified monetary damages. In addition, a      temporary injunction was granted, ex parte, pursuant to which the      defendants are prohibited from violating the aforementioned non-disclosure      agreement. We believe this lawsuit to be without merit and intend to      present a vigorous defense. |
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| Item 2. Unregistered Sales of Equity Securities and Use of      Proceeds. |
|---------------------------------------------------------------------------|

| During the three months ended September 30, 2009, we issued      unregistered securities, as follows: |
|-------------------------------------------------------------------------------------------------------|

| 1. | (a) Securities Sold. A $50,000 principal amount convertible      promissory note, bearing interest at 10% per annum and payable on demand;      (b) Underwriter or Other Purchasers. Such convertible promissory note was      issued to Dean E. Sukowatey; (c) Consideration. Such convertible      promissory note was issued in consideration of a $50,000 loan; and (d)      Exemption from Registration Claimed. The convertible promissory note is      exempt from registration under the Securities Act of 1933, as amended,      pursuant to the provisions of Section 4(2) thereof and Rule 506      thereunder, as a transaction not involving a public offering.; (e) Terms      of Conversion or Exercise. The convertible promissory note may be      converted into shares of common stock at the rate of one share for every      $.01 of indebtedness converted. |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Subsequent to September 30, 2009, we have issued unregistered      securities, as follows: |
|--------------------------------------------------------------------------------------------|

| 1. | (a) Securities Sold. A $10,000 principal amount convertible      promissory note, bearing interest at 10% per annum and payable on demand;      (b) Underwriter or Other Purchasers. Such convertible promissory note was      issued to Dean E. Sukowatey; (c) Consideration. Such convertible      promissory note was issued in consideration of a $50,000 loan; and (d)      Exemption from Registration Claimed. The convertible promissory note is      exempt from registration under the Securities Act of 1933, as amended,      pursuant to the provisions of Section 4(2) thereof and Rule 506      thereunder, as a transaction not involving a public offering.; (e) Terms      of Conversion or Exercise. The convertible promissory note may be      converted into shares of common stock at the rate of one share for every      $.01 of indebtedness converted. |
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| Item 3. Defaults upon SeniorSecurities. |
|-----------------------------------------|

| None. |
|-------|

| Item 4. Submission of Matters to a Vote of Security  Holders. |
|---------------------------------------------------------------|

| No matter was submitted to our shareholders, during the three months      ended June 30, 2009. In April 2007, holders of approximately 60% of our      common stock, acting by written consent in lieu of a meeting, approved an      amendment to our amended and restated certificate of incorporation,      whereby our authorized capital shares would be increased to 700,000,000      shares of common stock and 50,000,000 shares of preferred stock. This      amendment to our amended and restated certificate of incorporation is      expected to be effected in the nearfuture. |
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| Item 5. Other Information. |
|----------------------------|

| None. |
|-------|

| Item 6. Exhibits. |
|-------------------|

|   | Exhibit No. |   | Description |
|--------|-------------|--------|-------------|

|   | 31.1 * |   | Certification of Chief Executive Officer and Principal Financial and      Accounting Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of      2002 |
|--------|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 32.1 * |   | Certification of Chief Executive Officer and Principal Financial and      Accounting Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of      2002 |
|--------|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | * filed herewith. |
|--------|-------------------|

| SIGNATURES |
|------------|

| In accordance with the requirements of the Securities Exchange Act of      1934, Registrant has duly caused this report to be signed on its behalf by      the undersigned, hereunto duly authorized. |
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|   |
|--------|

| Date: November 23, 2009. | ALL FUELS & ENERGY COMPANY |
|--------------------------|--------------------------------|

|   |
|--------|

|   | By: | /S/ DEAN E. SUKOWATEY |   |
|--------|-----|-----------------------|--------|

|   | Dean E. Sukowatey, President and Acting Chief Financial    Officer |   |
|--------|--------------------------------------------------------------------|--------|