|   | Form 10-QSB |   |
|--------|-------------|--------|

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

|   | SECURITIES AND EXCHANGECOMMISSION Washington, D.C. |   |
|--------|----------------------------------------------------|--------|

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

|   | [ X ]  Quarterly Report Pursuant to Section 13 or 15(d) of the SecuritiesExchange Act of 1934 For the quarterly period ended March 31, 2007 |   |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------|--------|

| OR |
|----|

|   | [   ]  Transition Report Pursuant to Section 13 or 15(d) of the SecuritiesExchange Act of 1934 For the transition period from _______ to _______. |   |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------|--------|

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

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

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

|   | ALL Fuels & Energy Company                                   |   |
|--------|------------------------------------------------------------------|--------|
|   | (Exact Name of Small Business Issuer as Specified in itsCharter) |   |

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

|   | (State or Other Jurisdiction ofincorporation or organization) |   | (I.R.S. Employer IdentificationNumber) |   |
|--------|---------------------------------------------------------------|--------|----------------------------------------|--------|

|   | 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 Registrant (1) has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for suchshorter period that Registrant is required to file such reports), and (2) has been subject to suchfiling requirements for the past 90 days: Yes [ X ]   No [  ] |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

| Indicate the number of shares outstanding of each of the issuer’s classes of common stock as ofthe latest practicable date: |
|-----------------------------------------------------------------------------------------------------------------------------------|

|   | Class |   | Outstanding as of 5-15-07 |   |
|--------|-------|--------|---------------------------|--------|

|   | Common Stock, $.01 par value |   | 50,761,131 |   |
|--------|------------------------------|--------|------------|--------|

|         |
|--------------|
| <PAGE> |
|         |

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

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

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

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

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

|   | Consolidated Balance Sheets as of March 31, 2007 (unaudited), and December31, 2006 | 3 |
|--------|------------------------------------------------------------------------------------|---|

|   | Consolidated Statements of Operations for the Three Months Ended March 31,2007 and 2006, and the Period from Commencement of Development Stage(June 7, 2004) to March 31, 2007 (unaudited) | 4 |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---|

|   | Consolidated Statements of Cash Flows for the Three Months Ended March 31,2007 and 2006, and the Period from Commencement of Development Stage(June 7, 2004) to March 31, 2007 (unaudited) | 5 |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---|

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

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

| ALL Energy Company |
|--------------------|

|   | Consolidated Balance Sheets as of March 31, 2007 (unaudited), and December31, 2006 | 8 |
|--------|------------------------------------------------------------------------------------|---|

|   | Consolidated Statements of Operations for the Three Months Ended March 31,2007, and the Period from August 18, 2006 (inception) to March 31, 2007(unaudited) | 10 |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|----|

|   | Consolidated Statements of Cash Flows for the Three Months Ended March 31,2007, and the Period from August 18, 2006 (inception) to March 31, 2007(unaudited) | 11 |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|----|

|   | Notes to Consolidated Financial Statements | 13 |
|--------|--------------------------------------------|----|

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

| Pro Forma Financial Statements |
|--------------------------------|

|   | Pro Forma Consolidated Balance Sheet | 14 |
|--------|--------------------------------------|----|

|   | Pro Forma Statement of Operations | 15 |
|--------|-----------------------------------|----|

|         |
|--------------|
| <PAGE> |
|         |

|   | ALL FUELS & ENERGYCOMPANY |   |
|--------|-------------------------------|--------|

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

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

|   | March 31, 2007, and December 31, 2006 |   |
|--------|---------------------------------------|--------|

|   | 3/31/07(unaudited) |   | 12/31/06 |
|--------|--------------------|--------|----------|

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

|   | Total assets | $--- |   | $--- |
|--------|--------------|------|--------|------|

| LIABILITIES AND STOCKHOLDERS’ DEFICIT |
|---------------------------------------------|

| Liabilities |   |   |
|-------------|--------|--------|

|   | Accounts payable | $4,000 |   | $4,000 |
|--------|------------------|--------|--------|--------|

| Stockholders’ deficit |   |   |
|-----------------------------|--------|--------|

|   | Common stock, $.01 par value; 80,000,000 sharesauthorized, 8,210,754 and 6,210,754 shares issuedand outstanding | 82,108 |   | 62,108 |
|--------|-----------------------------------------------------------------------------------------------------------------|--------|--------|--------|

|   | Additional paid-in capital | 6,907,286 |   | 6,847,286 |
|--------|----------------------------|-----------|--------|-----------|

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

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

|   | Deficit accumulated during the development stage | (519,450) |   | (439,450) |
|--------|--------------------------------------------------|-----------|--------|-----------|

|   | Total stockholders' deficit | (4,000) |   | (4,000) |
|--------|-----------------------------|---------|--------|---------|

|   | Total liabilities and stockholders’ deficit | $--- |   | $--- |
|--------|---------------------------------------------------|------|--------|------|

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

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

|         |
|--------------|
| <PAGE> |
|         |

|   | ALL FUELS & ENERGYCOMPANY |   |
|--------|-------------------------------|--------|

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

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

|   | For the Three Months Ended March 31, 2007 and 2006, and the Period fromCommencement of Development Stage (June 7, 2004) to March 31, 2007 |   |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------|--------|

|   |   | Three Months EndedMarch 31, |   |   |   |
|--------|--------|-----------------------------|--------|--------|--------|

|   | 2007 |   | 2006 |   | Period fromCommencementofDevelopment Stage(June 7,2004) to3/31/07 |   |   |   |   |
|--------|------|--------|------|--------|-------------------------------------------------------------------|--------|--------|--------|--------|

| Revenues | $--- |   | $--- |   | $--- |   |   |   |   |
|----------|------|--------|------|--------|------|--------|--------|--------|--------|

| Operating Costs andExpenses |   |   |   |   |   |   |   |   |   |
|-----------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|

|   | Consulting | --- |   | --- |   | 180,000 |   |   |   |   |
|--------|------------|-----|--------|-----|--------|---------|--------|--------|--------|--------|

|   | Legal and accounting | --- |   | --- |   | 126,000 |   |   |   |   |
|--------|----------------------|-----|--------|-----|--------|---------|--------|--------|--------|--------|

|   | Impairment charge | --- |   | --- |   | 52,000 |   |   |   |   |
|--------|-------------------|-----|--------|-----|--------|--------|--------|--------|--------|--------|

|   | General andadministrative | 80,000 |   | 100 |   | 161,450 |   |   |   |   |
|--------|---------------------------|--------|--------|-----|--------|---------|--------|--------|--------|--------|

|   | Total operatingexpenses | 80,000 |   | 100 |   | 519,450 |   |   |   |   |
|--------|-------------------------|--------|--------|-----|--------|---------|--------|--------|--------|--------|

| Net loss | (80,000) |   | (100) |   | (519,450) |   |   |   |   |
|----------|----------|--------|-------|--------|-----------|--------|--------|--------|--------|

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

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

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

| Weighted averagenumber of sharesoutstanding (basic anddiluted) | 8,121,754 |   | 2,010,754 |   |   |   |   |   |   |
|----------------------------------------------------------------|-----------|--------|-----------|--------|--------|--------|--------|--------|--------|

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

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

|         |
|--------------|
| <PAGE> |
|         |

|   | ALL FUELS & ENERGYCOMPANY |   |
|--------|-------------------------------|--------|

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

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

|   | For the Three Months Ended March 31, 2007 and 2006, and the Period fromCommencement of Development Stage (June 7, 2004) to March 31, 2007 |   |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------|--------|

|   | Three Months Ended March31, |   |   |
|--------|-----------------------------|--------|--------|

|   | 2007 |   | 2006 |   | Period fromCommencementofDevelopment Stage (June7,2004) to3/31/07 |
|--------|------|--------|------|--------|-------------------------------------------------------------------|

| CASH FLOWS FROM OPERATINGACTIVITIES |   |   |   |   |   |
|-------------------------------------|--------|--------|--------|--------|--------|

| Net loss | $(80,000) |   | $(100) |   | $(519,450) |
|----------|-----------|--------|--------|--------|------------|

|   | Adjustments to reconcile net loss tocash used in operating activities: |   |   |   |   |   |
|--------|------------------------------------------------------------------------|--------|--------|--------|--------|--------|

|   | Stock issued for services | 80,000 |   | --- |   | 462,500 |
|--------|---------------------------|--------|--------|-----|--------|---------|

|   | Impairment charge | --- |   | --- |   | 52,000 |
|--------|-------------------|-----|--------|-----|--------|--------|

|   | Increase in accounts payable | --- |   | 100 |   | 4,000 |
|--------|------------------------------|-----|--------|-----|--------|-------|

| Net cash used in operating activities | --- |   | 0 |   | (950) |
|---------------------------------------|-----|--------|---|--------|-------|

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

| CASH FLOWS FROM FINANCINGACTIVITIES |   |   |   |   |   |
|-------------------------------------|--------|--------|--------|--------|--------|

|   | Principal payments on related partyadvances | 0 |   | 0 |   | (3,988) |
|--------|---------------------------------------------|---|--------|---|--------|---------|

|   | Contributions from shareholders | 0 |   | 0 |   | 950 |
|--------|---------------------------------|---|--------|---|--------|-----|

| Net cash provided by financing activities | 0 |   | 0 |   | (3,038) |
|-------------------------------------------|---|--------|---|--------|---------|

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

| NET CHANGE IN CASH | 0 |   | 0 |   | (3,988) |
|--------------------|---|--------|---|--------|---------|

| Cash, beginning of period | 0 |   | 0 |   | 3,988 |
|---------------------------|---|--------|---|--------|-------|

| Cash, end of period | $0 |   | $0 |   | $0 |
|---------------------|----|--------|----|--------|----|

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

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

|         |
|--------------|
| <PAGE> |
|         |

|   | ALL FUELS & ENERGYCOMPANY |   |
|--------|-------------------------------|--------|

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

|   | NOTES TO CONSOLIDATED FINANCIALSTATEMENTS |   |
|--------|-------------------------------------------|--------|

|   | March 31, 2007(unaudited) |   |
|--------|---------------------------|--------|

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

| Note 1 | Summary of Significant Accounting Policies |
|--------|--------------------------------------------|

| 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 principlesgenerally accepted in the United States of America, pursuant to the Securities and ExchangeCommission rules and regulations. In management’s opinion all adjustments necessary for a fairpresentation of the results for interim periods have been reflected in the interim financialstatements. The results of operations for any interim period are not necessarily indicative of theresults 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 preparedin accordance with generally accepted accounting principles have been condensed or omitted.Such disclosures are those that would substantially duplicate information contained in the mostrecent audited financial statements of the Company, such as significant accounting policies andstock options.  Management presumes that users of the interim statements have read or haveaccess to the audited financial statements and notes thereto included in the Company’s most recentannual report on Form 10-KSB. |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| These financial statements have been prepared assuming that the Company will continue as agoing  concern.  The Company has incurred net losses since  inception and, at March 31, 2007,the Company had no operating assets or revenues and a stockholders’ deficit of $4,000. |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| The Company will need to obtain additional funding to continue its existence. Success in raisingadditional funding is dependent  on the  Company's ability  to  demonstrate  that  it  can  fulfillits  future  business strategies.  Should the Company need additional  financing through debt orequity placements, there is no assurance that such financing will be available, or at termsacceptable to the Company. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Management  believes that it will be able to secure adequate funds to remain in existence. |
|--------------------------------------------------------------------------------------------|

| Note 2 | Subsequent Events |
|--------|-------------------|

| Acquisition of ALL Energy Company |
|-----------------------------------|

| On April 9, 2007, the Company acquired 100% of the outstanding capital stock of ALL EnergyCompany, a Delaware corporation, pursuant to which ALL Energy Company became a wholly-owned subsidiary of the Company.  The Company issued 25,330,000 shares of its common stockin the acquisition transaction. |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Change in Corporate Name |
|--------------------------|

| Effective May 3, 2007, the Company changed its name to “ALL Fuels & Energy Company”. |
|------------------------------------------------------------------------------------------------------|

| Forward Split of Common Stock |
|-------------------------------|

| In May 2007, the Company’s board of directors approved a forward split of the Company’scommon stock at a ratio of one(1)-new-share-for-every-two(2)-shares-owned, effective May 14,2007. |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|         |
|--------------|
| <PAGE> |
|         |

|   | ALL ENERGY COMPANY |   |
|--------|--------------------|--------|

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

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

|   | March 31, 2007, and December 31, 2006 |   |
|--------|---------------------------------------|--------|

|   | 3/31/07(unaudited) |   | 12/31/06 |
|--------|--------------------|--------|----------|

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

| CURRENT ASSETS |   |   |
|----------------|--------|--------|

|   | Cash and cash equivalents | $358,618 |   | $1,772,495 |
|--------|---------------------------|----------|--------|------------|

|   | Advances - related party | --- |   | 22,500 |
|--------|--------------------------|-----|--------|--------|

|   | Prepaid expenses | 95,440 |   | 15,130 |
|--------|------------------|--------|--------|--------|

|   | Total current assets | $454,058 |   | $1,810,125 |
|--------|----------------------|----------|--------|------------|

| PROPERTY AND EQUIPMENT - AT COST |   |   |
|----------------------------------|--------|--------|

|   | Land | 951,238 |   | --- |
|--------|------|---------|--------|-----|

|   | Equipment | 1,330 |   | 1,330 |
|--------|-----------|-------|--------|-------|

|   | Construction-in-progress | 134,685 |   | 117,467 |
|--------|--------------------------|---------|--------|---------|

|   |   | 1,087,253 |   | 118,797 |
|--------|--------|-----------|--------|---------|

|   | Less accumulated depreciation | (237) |   | (126) |
|--------|-------------------------------|-------|--------|-------|

|   | Total property and equipment - net | 1,087,016 |   | 118,671 |
|--------|------------------------------------|-----------|--------|---------|

| OTHER ASSETS |   |   |
|--------------|--------|--------|

|   | Deposits | --- |   | 10,000 |
|--------|----------|-----|--------|--------|

|   | Goodwill | 266,045 |   | --- |
|--------|----------|---------|--------|-----|

|   | Total other assets | 266,045 |   | 10,000 |
|--------|--------------------|---------|--------|--------|

| Total assets | $1,807,119 |   | $1,938,796 |
|--------------|------------|--------|------------|

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

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

|         |
|--------------|
| <PAGE> |
|         |

|   | ALL ENERGY COMPANY |   |
|--------|--------------------|--------|

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

|   | CONSOLIDATED BALANCE SHEETS (cont.) |   |
|--------|-------------------------------------|--------|

|   | March 31, 2007, and December 31, 2006 |   |
|--------|---------------------------------------|--------|

|   | 3/31/07(unaudited) |   | 12/31/06 |
|--------|--------------------|--------|----------|

| LIABILITIES AND STOCKHOLDERS' EQUITY |
|--------------------------------------|

| CURRENT LIABILITIES |   |   |
|---------------------|--------|--------|

|   | Accounts payable and accrued expenses | $44,149 |   | $24,483 |
|--------|---------------------------------------|---------|--------|---------|

|   | Accrued liabilities - related party | --- |   | 40,056 |
|--------|-------------------------------------|-----|--------|--------|

|   | Total current liabilities | 44,149 |   | 64,539 |
|--------|---------------------------|--------|--------|--------|

| Total Liabilities | 44,149 |   | 64,539 |
|-------------------|--------|--------|--------|

| Minority Interest | 112,045 |   | --- |
|-------------------|---------|--------|-----|

| STOCKHOLDERS’ EQUITY |   |   |
|----------------------------|--------|--------|

|   | Preferred stock, $.0001 par value; 10,000,000 sharesauthorized; none issued and outstanding at March 31,2007, and December 31, 2006 | $ --- |   | $ --- |
|--------|-------------------------------------------------------------------------------------------------------------------------------------|-------|--------|-------|

|   | Common stock, $.0001 par value; 100,000,000shares authorized, 2,010,731 and 1,715,017 sharesissued and outstanding at March 31, 2007, andDecember 31, 2006 | 201 |   | 171 |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------|-----|--------|-----|

|   | Additional paid-in capital | 2,363,493 |   | 2,067,708 |
|--------|----------------------------|-----------|--------|-----------|

|   | Deficit accumulated in the development stage | (712,769) |   | (193,622) |
|--------|----------------------------------------------|-----------|--------|-----------|

|   | Total stockholders’ equity | 1,650,925 |   | 1,874,257 |
|--------|----------------------------------|-----------|--------|-----------|

| Total liabilities and stockholders’ equity | $1,807,119 |   | $1,938,796 |
|--------------------------------------------------|------------|--------|------------|

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

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

|         |
|--------------|
| <PAGE> |
|         |

|   | ALL ENERGY COMPANY |   |
|--------|--------------------|--------|

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

|   | CONSOLIDATED STATEMENTS OFOPERATIONS |   |
|--------|--------------------------------------|--------|

|   | Three Months Ended March 31, 2007, and thePeriod from August 18, 2006 (inception) to March 31, 2007 |   |
|--------|-----------------------------------------------------------------------------------------------------|--------|

|   |   |   | ThreeMonthsEnded3/31/07 |   | Period from8/18/06(inception)to 3/31/07 |
|--------|--------|--------|-------------------------|--------|-----------------------------------------|

| Revenues | $--- |   | $--- |
|----------|------|--------|------|

| Expenses |   |   |   |
|----------|--------|--------|--------|

|   | Professional fees | 348,046 |   | 414,339 |
|--------|-------------------|---------|--------|---------|

|   | General and administrative | 180,322 |   | 326,912 |
|--------|----------------------------|---------|--------|---------|

|   |   | 528,368 |   | 741,251 |
|--------|--------|---------|--------|---------|

| Operating loss | (528,368) |   | (741,251) |
|----------------|-----------|--------|-----------|

| Other income |   |   |   |
|--------------|--------|--------|--------|

|   | Interest income | 9,221 |   | 28,482 |
|--------|-----------------|-------|--------|--------|

| Net loss | $(519,147) |   | $(712,769) |
|----------|------------|--------|------------|

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

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

|         |
|--------------|
| <PAGE> |
|         |

|   | ALL ENERGY COMPANY |   |
|--------|--------------------|--------|

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

|   | CONSOLIDATED STATEMENTS OF CASHFLOWS |   |
|--------|--------------------------------------|--------|

|   | Three Months Ended March 31, 2007, and thePeriod from August 18, 2006 (inception) to March 31, 2007 |   |
|--------|-----------------------------------------------------------------------------------------------------|--------|

|   |   |   | ThreeMonthsEnded3/31/07 |   | Period from8/18/06(inception)to 3/31/07 |
|--------|--------|--------|-------------------------|--------|-----------------------------------------|

| Cash Flows from Operating Activities |   |   |   |   |   |
|--------------------------------------|--------|--------|--------|--------|--------|

|   | Net loss |   |   | $(519,147) |   | $(712,769) |
|--------|----------|--------|--------|------------|--------|------------|

|   | Reconciliation of net loss to net cashused for operating activities |   |   |   |   |   |
|--------|---------------------------------------------------------------------|--------|--------|--------|--------|--------|

|   | Depreciation |   |   | 111 |   | 237 |
|--------|--------------|--------|--------|-----|--------|-----|

|   | Consulting services settled in stock |   |   | 295,815 |   | 299,145 |
|--------|--------------------------------------|--------|--------|---------|--------|---------|

|   | (Increase) in prepaid expense |   |   | (80,310) |   | (95,440) |
|--------|-------------------------------|--------|--------|----------|--------|----------|

|   | Decrease (increase) in advances -related party |   |   | 22,500 |   | --- |
|--------|------------------------------------------------|--------|--------|--------|--------|-----|

|   | Decrease (increase) in deposits |   |   | 10,000 |   | --- |
|--------|---------------------------------|--------|--------|--------|--------|-----|

|   | Increase in accounts payable |   |   | 15,666 |   | 40,149 |
|--------|------------------------------|--------|--------|--------|--------|--------|

|   | Decrease (increase) in accruedliabilities - related party |   |   | (40,056) |   | --- |
|--------|-----------------------------------------------------------|--------|--------|----------|--------|-----|

| Net cash used for operating activities |   |   | (295,421) |   | (468,678) |
|----------------------------------------|--------|--------|-----------|--------|-----------|

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

| Cash Flows from Investing Activities |   |   |   |   |   |
|--------------------------------------|--------|--------|--------|--------|--------|

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

|   | Purchase of office equipment |   |   | --- |   | (1,330) |
|--------|------------------------------|--------|--------|-----|--------|---------|

|   | Acquisition of AFSE |   |   | (150,000) |   | (150,000) |
|--------|---------------------|--------|--------|-----------|--------|-----------|

|   | Increase in construction-in-progress |   |   | (17,218) |   | (134,685) |
|--------|--------------------------------------|--------|--------|----------|--------|-----------|

| Net cash used for investing activities |   |   | (1,118,456) |   | (1,237,253) |
|----------------------------------------|--------|--------|-------------|--------|-------------|

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

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

|         |
|--------------|
| <PAGE> |
|         |

| Cash Flows from Financing Activities |   |   |   |   |   |
|--------------------------------------|--------|--------|--------|--------|--------|

|   | Proceeds from sale of commonstock, net of offering costs |   |   | --- |   | 2,064,549 |
|--------|----------------------------------------------------------|--------|--------|-----|--------|-----------|

| Net cash used provided by financingactivities |   |   | --- |   | 2,064,549 |
|-----------------------------------------------|--------|--------|-----|--------|-----------|

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

| Increase (decrease) in cash |   |   | (1,413,877) |   | 358,618 |
|-----------------------------|--------|--------|-------------|--------|---------|

| Cash at beginning of period |   |   | 1,772,495 |   | --- |
|-----------------------------|--------|--------|-----------|--------|-----|

| Cash at end of period |   |   | $358,618 |   | $358,618 |
|-----------------------|--------|--------|----------|--------|----------|

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

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

|         |
|--------------|
| <PAGE> |
|         |

|   | ALL ENERGY COMPANY |   |
|--------|--------------------|--------|

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

|   | NOTES TO CONSOLIDATED FINANCIALSTATEMENTS |   |
|--------|-------------------------------------------|--------|

|   | March 31, 2007(unaudited) |   |
|--------|---------------------------|--------|

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

| Note 1 | Summary of Significant Accounting Policies |
|--------|--------------------------------------------|

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

| The accompanying unaudited interim financial statements of ALL Energy Company (the“Company”) have been prepared by the Company in accordance with accounting principlesgenerally accepted in the United States of America, pursuant to the Securities and ExchangeCommission rules and regulations. In management’s opinion all adjustments necessary for a fairpresentation of the results for interim periods have been reflected in the interim financialstatements. The results of operations for any interim period are not necessarily indicative of theresults 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 preparedin accordance with generally accepted accounting principles have been condensed or omitted.Such disclosures are those that would substantially duplicate information contained in the mostrecent audited financial statements of the Company, such as significant accounting policies andstock options. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Note 2 | Acquisition of ALL Fuels & Energy Company |
|--------|-----------------------------------------------|

| In January 2007, the Company acquired control of ALL Fuels & Energy Company (f/k/a ICrystal,Inc.) (“AFSE”), a publicly traded company, by purchasing 4,700,000 shares of common stock ofAFSE.  The Company paid $150,000 in cash for the AFSE stock.  With ownership ofapproximately 57% of the outstanding stock of AFSE, the Company has consolidated AFSE inits financial statements.  This transaction resulted in goodwill of $266,045 being recorded andincluded in the consolidated financial statements along with accounts payable of $4,000 and aminority interest of $112,045. |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| The activity related to AFSE from the acquisition date in January 2007 through the end of thefiscal period has been included in the accompanying financial statements. |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Note 3 | Purchase of Land |
|--------|------------------|

| In March 2007, the Company acquired approximately 150 acres of land located in Manchester,Iowa.  The Company paid $949,738 in cash for this parcel of land. |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Note 4 | Subsequent Event |
|--------|------------------|

| Change in Control |
|-------------------|

| In April 2007, pursuant to a reorganization agreement among AFSE and the shareholders of theCompany, AFSE acquired 100% of the outstanding capital stock of the Company, pursuant towhich the Company became a wholly-owned subsidiary of AFSE. |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|         |
|--------------|
| <PAGE> |
|         |

| Pro Forma Consolidated Balance Sheet |   |
|--------------------------------------|--------|

| The following pro forma consolidated balance sheet has been derived from the balance sheet ofALL Fuels & Energy Company (“AFSE”) at March  31, 2007, and adjusts such information togive effect to the acquisition of ALL Energy Company (“ALL Energy”), as if the acquisition hadoccurred at March  31, 2007.  The pro forma balance sheet is presented for informational purposesonly and does not purport to be indicative of the financial condition that would have resulted ifthe acquisition had been consummated at March  31, 2007.  The pro forma balance sheet shouldbe read in conjunction with the notes thereto and ALL Energy’s financial statements and relatednotes thereto contained elsewhere in this filing. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| A pro forma consolidated balance sheet is presented below. |
|------------------------------------------------------------|

|   | AFSE |   | ALLEnergy |   | Pro FormaAdjustments |   | Pro Forma |
|--------|------|--------|-----------|--------|----------------------|--------|-----------|

| Cash | $ --- |   | $358,618 |   | $ --- |   | $358,618 |
|------|-------|--------|----------|--------|-------|--------|----------|

|   | Total current assets | --- |   | 454,058 |   | --- |   | 454,058 |
|--------|----------------------|-----|--------|---------|--------|-----|--------|---------|

| Goodwill | --- |   | 266,045 |   | (266,045) | (a)(b) | --- |
|----------|-----|--------|---------|--------|-----------|--------|-----|

| Investment in subsidiary | 1,650,925 |   | --- |   | (1,650,925) | (a) | --- |
|--------------------------|-----------|--------|-----|--------|-------------|-----|-----|

|   | Total assets | $1,650,925 |   | $1,807,119 |   | $(1,916,970) |   | $1,541,074 |
|--------|--------------|------------|--------|------------|--------|--------------|--------|------------|

| Total liabilities | $4,000 |   | $44,149 |   | $4,000 |   | $44,149 |
|-------------------|--------|--------|---------|--------|--------|--------|---------|

| Minority interest | --- |   | 112,045 |   | (112,045) | (a) | --- |
|-------------------|-----|--------|---------|--------|-----------|-----|-----|

| Shareholders’ Equity(Deficit) |   |   |   |   |   |   |   |
|-------------------------------------|--------|--------|--------|--------|--------|--------|--------|

|   | Preferred stock | --- |   | --- |   | --- |   | --- |
|--------|-----------------|-----|--------|-----|--------|-----|--------|-----|

|   | Common stock | 335,408 |   | 201 |   | (201) | (a) | 335,408 |
|--------|--------------|---------|--------|-----|--------|-------|-----|---------|

|   | Treasury stock | --- |   | --- |   | (150,000) | (b) | (150,000) |
|--------|----------------|-----|--------|-----|--------|-----------|-----|-----------|

|   | Additional paid-incapital | 8,304,911 |   | 2,363,493 |   | (2,363,493) | (a) | 8,304,911 |
|--------|---------------------------|-----------|--------|-----------|--------|-------------|-----|-----------|

|   | Receivable fromshareholder | (50,000) |   | --- |   | --- |   | (50,000) |
|--------|----------------------------|----------|--------|-----|--------|-----|--------|----------|

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

|   | Deficit accumulatedduring the developmentstage | (519,450) |   | (712,769) |   | 712,769 | (a) | (519,450) |
|--------|------------------------------------------------|-----------|--------|-----------|--------|---------|-----|-----------|

| Total Shareholders Equity(Deficit) | 1,646,925 |   | 1,650,925 |   | (1,800,925) |   | 1,496,925 |
|------------------------------------|-----------|--------|-----------|--------|-------------|--------|-----------|

|   | $1,650,925 |   | $1,691,074 |   | $(1,800,925) |   | $1,541,074 |
|--------|------------|--------|------------|--------|--------------|--------|------------|

| (a) - elimination of investment in consolidated subsidiary |
|------------------------------------------------------------|

| (b) - reclass shares held to treasury stock |
|---------------------------------------------|

|         |
|--------------|
| <PAGE> |
|         |

| Pro Forma Statement of Operations |   |
|-----------------------------------|--------|

| The following pro forma statement of operations has been derived from the statement ofoperations of AFSE at March  31, 2007, and adjusts such information to give effect to theacquisition of ALL Energy, as if the acquisition had occurred at January 1, 2007.  The pro formastatement of operations is presented for informational purposes only and does not purport to beindicative of the financial condition that would have resulted if the acquisition had beenconsummated at January 1, 2007.  The pro forma statement of operations should be read inconjunction with ALL Energy’s financial statements and related notes thereto contained elsewherein this filing. |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| A pro forma statement of operations is presented below. |
|---------------------------------------------------------|

|   | AFSE |   | ALL Energy |   | Pro FormaAdjustments |   | Pro Forma |
|--------|------|--------|------------|--------|----------------------|--------|-----------|

| Revenues | $ --- |   | $ --- |   | $ --- |   | $ --- |
|----------|-------|--------|-------|--------|-------|--------|-------|

| Expenses |   |   |   |   |   |   |   |
|----------|--------|--------|--------|--------|--------|--------|--------|

|   | Consulting | --- |   | --- |   | --- |   | --- |
|--------|------------|-----|--------|-----|--------|-----|--------|-----|

|   | Legal and accounting | --- |   | --- |   | --- |   | --- |
|--------|----------------------|-----|--------|-----|--------|-----|--------|-----|

|   | Professional fees | --- |   | 348,046 |   | --- |   | 348,046 |
|--------|-------------------|-----|--------|---------|--------|-----|--------|---------|

|   | Impairment charge | --- |   | --- |   | --- |   | --- |
|--------|-------------------|-----|--------|-----|--------|-----|--------|-----|

|   | General andadministrative | 80,000 |   | 180,322 |   | --- |   | 260,322 |
|--------|---------------------------|--------|--------|---------|--------|-----|--------|---------|

|   | Total expenses | 80,000 |   | 528,368 |   | --- |   | 608,368 |
|--------|----------------|--------|--------|---------|--------|-----|--------|---------|

| Operating loss | (80,000) |   | (528,368) |   | --- |   | (608,368) |
|----------------|----------|--------|-----------|--------|-----|--------|-----------|

| Other Income | --- |   | 9,221 |   | --- |   | 9,221 |
|--------------|-----|--------|-------|--------|-----|--------|-------|

|   | Net loss | $(80,000) |   | $(519,147) |   | --- |   | $(599,147) |
|--------|----------|-----------|--------|------------|--------|-----|--------|------------|

|         |
|--------------|
| <PAGE> |
|         |

|   | FORWARD-LOOKING STATEMENTS |   |
|--------|----------------------------|--------|

| On April 9, 2007, we acquired ALL Energy Company, a privately-held, development-stageethanol company based in Johnston, Iowa.  References to “us”, “we” and “our” include ALLEnergy Company, and its subsidiary, ALL Energy Manchester, LLC, unless otherwise indicated. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| In addition, certain other forward-looking statements herein are statements regarding financial andoperating performance and results and other statements that are not historical facts. The words“expect”, “project”, “estimate”, “believe”, “anticipate”, “intend”, “plan”, “forecast” and similarexpressions are intended to identify forward-looking statements. Certain important risks couldcause results to differ materially from those anticipated by some of the forward-lookingstatements. Some, but not all, of the important risks that could cause actual results to differmaterially from those suggested by the forward-looking statements include, among other things: |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| - | Events that deprive us of the services of our president, Dean Sukowatey; |
|---|--------------------------------------------------------------------------|

| - | Whether we are able to obtain adequate capital with which to construct and/orpurchase one or more ethanol production facilities; and |
|---|--------------------------------------------------------------------------------------------------------------------------------------|

| - | Other uncertainties, all of which are difficult to predict and many of which are beyondour control. |
|---|-----------------------------------------------------------------------------------------------------|

| Item 2. | Plan of Operations. |
|---------|---------------------|

| Background |
|------------|

| From 1999 through 2002, the business operations of ALL Fuels & Energy Company involved thedevelopment of Internet-based software for computer-based card and table games for gaming andcasino applications.  This business proved to be unsuccessful and, in 2003, management sold oursoftware business.  During 2003, we recognized nominal income from our discontinuedoperations.  However, we did not engage in active business operations during 2003.  During 2004and 2005, we did not engage in active business operations and had no revenues.  During 2006, wedid not engage in active business operations, until November of that year.  In November 2006, westarted a new business, but did not generate any revenues therefrom in 2006. |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| From 2004 through November 2006, our management searched for a going business to acquire,without success.  Due to this lack of success, our board of directors determined that it would bein the best interests of our company and our shareholders for our company to start a new business.After assessing the business opportunities available to our company vis-a-vis our lack of availablecapital, in November 2006, our board of directors determined that we would become a publisherof web pages.  In connection with this determination, we entered into three separate asset purchaseagreements, whereby we acquired certain web site domains and Internet web pages associatedtherewith.  During 2006, we did not derive any revenues from this business. |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| As we pursued our web page publishing business, in January 2007, our former management actedupon an opportunity for our company to acquire ALL Energy Company and determined that thebest interests of our shareholders would be served by acquiring ALL Energy Company andpursuing the ethanol-related business plan of ALL Energy Company as a combined enterprise. |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| In January 2007, there occurred a change in control with respect to our company and newmanagement was installed.  Our new management has determined that we will pursue a plan ofbusiness whereby we would become a producer of ethanol and its co-products. To that end, onApril 9, 2007, we acquired 100% of ALL Energy Company, a development-stage ethanolcompany. |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Our web page publishing business continues and has been assigned to a subsidiary, VenusAssociates, Inc., a Nevada corporation, which intends to change its corporate name to “Vortal 9,Inc.”  At an appropriate time in the near future, all of the stock of Venus Associates is to bedistributed, as a dividend, to our shareholders of record on January 19, 2007, pursuant to aneffective registration statement filed with the SEC.  Thereafter, the web page publishing businessof Venus Associates will no longer be a part of our company.  The costs associated with thedividend distribution of the Venus Associates stock will be borne by Venus Associates and wewill not provide any operating funds to Venus Associates at any time. |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

| While we believe that the factors considered provide a meaningful basis for the accountingpolicies applied in the preparation of the consolidated financial statements, we cannot guaranteethat our estimates and assumptions will be accurate. If such estimates and assumptions prove tobe 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 thelikelihood of any adverse judgments or outcomes of any of these matters as well as the potentialrange of probable losses. A determination of the amount of accrual required, if any, for thesecontingencies will be made after careful analysis of each matter. The required accrual may changefrom time to time, due to new developments in any matter or changes in approach (such as achange in settlement strategy) in dealing with these matters. |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Additionally, in the future, we may become engaged in various tax audits by federal and stategovernmental authorities incidental to our business activities. We anticipate that we will recordreserves for any estimated probable losses for any such proceeding. |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Stock-Based Compensation.  We account for stock-based compensation based on the provisionsof Statement of Financial Accounting Standards No. 123.  In December 2004, the FinancialAccounting 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 forStock Issued to Employees, and amends FAS-95, Statement of Cash Flows.  FAS-123R requirescompanies to apply a fair-value-based measurement method in accounting for share-basedpayment transactions with employees and to record compensation cost for all stock awards grantedafter 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 appreciationrights and employee share purchase plans. |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| New Accounting Pronouncement.  In September 2006, the Financial Accounting Standards Board(“FASB”) issued Statement of Financial Accounting Standards (“SFAS”) No. 157, “Fair ValueMeasurements” (“SFAS 157”).  SFAS 157 defines fair value, establishes a framework formeasuring fair value in accordance with generally accepted accounting principles, and expandsdisclosures about fair value measurements.  SFAS 157 is effective January 1, 2008.  We do notbelieve this statement will adversely impact our financial statements. |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Three Month Periods Ended March 31, 2007 and 2006 |
|---------------------------------------------------|

| During the three month periods ended March 31, 2007 and 2006, we did not engage in activebusiness operations and had no revenues.During all of 2005 and until November 2006, our company sought to locate a private companywith which to enter into a business combination transaction. |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Plan of Operations |
|--------------------|

| Ethanol.  Unless and until we obtain significant capital, approximately $200 million for theconstruction of our proposed ethanol production facility in Manchester, Iowa (the “Manchesterfacility”) or approximately $106 million for our proposed purchase of ACE Ethanol, LLC, aStanley, Wisconsin-based operator of an ethanol production facility, our operations will belimited, with respect to the Manchester facility, to pre-construction tasks, such as air quality andwater quality permitting activities. |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Should we obtain the capital necessary only to construct the Manchester facility, our activities willbe focused on completing that construction project on time and under budget, as we will notderive revenues from the Manchester facilities until construction is completed, a period ofbetween 14 and 18 months from the date construction begins. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Should we obtain the capital necessary to acquire ACE Ethanol, LLC, we would, immediatelyupon completion of such acquisition transaction, become an ethanol producer. |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Web Page Publishing.  Our web page publishing business continues and has been assigned to asubsidiary, Venus Associates, Inc., a Nevada corporation, which intends to change its corporatename to “Vortal 9, Inc.”  At an appropriate time in the near future, all of the stock of VenusAssociates is to be distributed, as a dividend, to our shareholders of record on January 19, 2007,pursuant to an effective registration statement filed with the SEC.  Thereafter, the web pagepublishing business of Venus Associates will no longer be a part of our company.  The costsassociated with the dividend distribution of the Venus Associates stock will be borne by VenusAssociates and we will not provide any operating funds to Venus Associates at any time, as thisbusiness is no longer a part of our business plan. |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Current Liquidity |
|-------------------|

| At March 31, 2007, ALL Energy Company had $358,618 (unaudited) in cash and working capitalof $409,909 (unaudited).  Subsequent to March 31, 2007, we obtained $488,000 in cash from aloan secured by the 150 acres of land we own in Manchester, Iowa, for which we paid $954,000.Currently, we possess approximately $800,000 in cash.  This amount of cash is adequate to sustainour current level of operations for at least the next 12 months.  However, as discussed below, wewill be required to obtain additional capital to pursue current business opportunities and otherwiseto pursue our complete plan of business. |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Management’s Plans Relating to Future Liquidity |
|-------------------------------------------------------|

| Ethanol.  We require approximately $200 million to construct the Manchester facility andapproximately $106 million to purchase ACE Ethanol, LLC.  Our management believes it will beable to secure the financing, in the form of debt, equity or a combination thereof, necessary tocomplete these opportunities.  However, no lender or other funding source has made anycommitment to make a loan in any amount in this regard.  Should we fail to obtain such financing,our plan of business would likely be unsuccessful and we may be forced to cease operations. |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Web Page Publishing.  We have determined not to commit any resources to the web pagepublishing business of our subsidiary, Venus Associates, Inc. |
|---------------------------------------------------------------------------------------------------------------------------------------------------|

| Capital Expenditures |
|----------------------|

| During the three month periods ended March 31, 2007 and 2006, we made no capitalexpenditures. |
|-----------------------------------------------------------------------------------------------|

| In March 2007, ALL Energy Company purchased approximately 150 acres of real property locatedadjacent to Manchester, Iowa, for $945,000 in cash.  We intend to construct the Manchesterfacility on this site. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Should we obtain the capital required to build the Manchester facility or to purchase ACE Ethanol,LLC, our capital expenditures during the remainder of 2007 will be significant.  However, wecannot predict the exact amount of these potential expenditures. |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

| Item 3. | Controls and Procedures. |
|---------|--------------------------|

| Our Chief Executive Officer and Acting Chief Financial Officer has reviewed and evaluated theeffectiveness of our disclosure controls and procedures (as defined in the Securities Exchange Actof 1934 Rules 240.13a-14(c) and 15d-14(c)) as of the end of the period covered by this report andhas concluded that such disclosure controls and procedures are effective in timely alerting him andother members of management to material information about our company required to bedisclosed by us in our periodic reports that we file or submit under the Securities Exchange Actof 1934.  Prior to the first quarter of 2007, however, we did have deficiencies in our disclosurecontrols and procedures as a result of our lack of accounting personnel, due to our then-limitedfinancial resources.  Our acquisition of ALL Energy Company has allowed us to retain adequateaccounting personnel. |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| There have not been any significant changes in our internal controls over financial reporting (assuch term is defined in Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934)during the fiscal quarter to which this report relates that have materially affected, or are reasonablylikely to materially affect, our internal control over financial reporting. |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

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

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

| We are not currently involved in any legal proceedings. |
|---------------------------------------------------------|

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

| Item 2. | Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. |
|---------|----------------------------------------------------------------------|

| During the three month ended March 31, 2007, we issued the following unregisteredsecurities: |
|----------------------------------------------------------------------------------------------|

| 1. | (a) | Securities Sold. In January 2007, 2,000,000 shares of our common stock were issued. |
|----|-----|-------------------------------------------------------------------------------------|

|   | (b) | Underwriter or Other Purchasers. Such shares of common stock were issued to DavidLoflin. |
|--------|-----|------------------------------------------------------------------------------------------|

|   | (c) | Consideration. Such shares of common stock were issued as a retention bonus andwere valued at $.04 per share, or $80,000, in the aggregate. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | Exemption from Registration Claimed. These securities are exempt from registrationunder the Securities Act of 1933, as amended, pursuant to the provisions of Section4(2) thereof and Rule 506 thereunder, as a transaction not involving a public offering.This purchaser was a sophisticated investor capable of evaluating an investment in thecompany. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

| Item 3. | Defaults upon Senior Securities. |
|---------|----------------------------------|

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

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

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

| In March 2007, holders of approximately 69.42% of our common stock, acting by written consentin lieu of a meeting, approved a change of our corporate name from ICrystal, Inc. to “ALL Fuels& Energy Company”.  This name change became effective May 3, 2007. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| In April 2007, holders of approximately 60% of our common stock, acting by written consent inlieu of a meeting, approved an amendment to our amended and restated certificate ofincorporation, whereby our authorized capital shares would be increased to 700,000,000 sharesof common stock and 50,000,000 shares of preferred stock.  This amendment to our amended andrestated certificate of incorporation will not be effected until such time as we have disseminatedan appropriate information statement. |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

| Item 5. | Other Information. |
|---------|--------------------|

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

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

| Item 6. | Exhibits and Reports on Form 8-K. |
|---------|-----------------------------------|

| (a) Exhibits |
|--------------|

| ExhibitNo. |   | Description |
|------------|--------|-------------|

| 31.1 |   | Certification of Chief Executive Officer required by Rule 13a-14(a) or Rule15d-14(b) |
|------|--------|--------------------------------------------------------------------------------------|

| 31.2 |   | Certification of Chief Accounting Officer required by Rule 13a-14(a) or Rule15d-14(b) |
|------|--------|---------------------------------------------------------------------------------------|

| 32.1 |   | Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350 |
|------|--------|-----------------------------------------------------------------------------|

| 32.2 |   | Certification of Chief Accounting Officer Pursuant to 18 U.S.C. Section 1350 |
|------|--------|------------------------------------------------------------------------------|

| (b) Reports on Form 8-K |
|-------------------------|

| During the three months ended March 31, 2007, we filed the following Current Reports on Form8-K: (1) date of event: January 19, 2007; (32 January 29, 2007; and (3) February 14, 2007. |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Subsequent to March 31, 2007, we have filed the following Current Reports on Form 8-K: (1) dateof event: April 9, 2007, as amended; (2) date of event: May 2, 2007; (3) and May 3, 2007. |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

|         |
|--------------|
| <PAGE> |
|         |

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

| In accordance with the requirements of the Securities Exchange Act of 1934, Registrant hasduly caused this report to be signed on its behalf by the undersigned, thereunto dulyauthorized. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

| Date: May 21, 2007 | ALL FUELS & ENERGY COMPANY |
|--------------------|--------------------------------|

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

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

|   | Dean E. Sukowatey, President andActing Chief Financial Officer |   |
|--------|----------------------------------------------------------------|--------|