|   | 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 September 30, 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 11-15-07 |   |
|--------|-------|--------|----------------------------|--------|

|   | Common Stock, $.01 par value |   | 50,951,215 |   |
|--------|------------------------------|--------|------------|--------|

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

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

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

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

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

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

|   | Condensed Consolidated Balance Sheets as of September 30, 2007 (unaudited),and December 31, 2006 | 3 |
|--------|--------------------------------------------------------------------------------------------------|---|

|   | Condensed Consolidated Statements of Operations for the Three Months andNine Months Ended September 30, 2007 and 2006, and the Period fromCommencement of Development Stage (June 7, 2004) to September 30, 2007(unaudited) | 5 |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---|

|   | Condensed Consolidated Statements of Cash Flows for the Nine Months EndedSeptember 30, 2007 and 2006, and the Period from Commencement ofDevelopment Stage (June 7, 2004) to September 30, 2007 (unaudited) | 6 |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---|

|   | Notes to Interim Condensed Consolidated Financial Statements | 8 |
|--------|--------------------------------------------------------------|---|

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

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

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

|   | CONDENSED CONSOLIDATED BALANCESHEETS |   |
|--------|--------------------------------------|--------|

|   | September 30, 2007, and December 31, 2006 |   |
|--------|-------------------------------------------|--------|

|   | 9/30/07(unaudited) |   | 12/31/06 |
|--------|--------------------|--------|----------|

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

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

|   | Cash and cash equivalents | $502,662 |   | $--- |
|--------|---------------------------|----------|--------|------|

|   | Prepaid expenses | 103,022 |   | --- |
|--------|------------------|---------|--------|-----|

|   | Total current assets | 605,684 |   | --- |
|--------|----------------------|---------|--------|-----|

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

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

|   | Equipment | 1,093 |   | --- |
|--------|-----------|-------|--------|-----|

|   | Construction-in-progress | 182,233 |   | --- |
|--------|--------------------------|---------|--------|-----|

|   |   | 1,134,564 |   | --- |
|--------|--------|-----------|--------|-----|

|   | Less accumulated depreciation | (183) |   | --- |
|--------|-------------------------------|-------|--------|-----|

|   | Total property and equipment - net | 1,134,381 |   | --- |
|--------|------------------------------------|-----------|--------|-----|

| Other assets |   |   |
|--------------|--------|--------|

|   | Deferred borrowing costs | 14,082 |   | --- |
|--------|--------------------------|--------|--------|-----|

|   | Total other assets | 14,082 |   | --- |
|--------|--------------------|--------|--------|-----|

|   | Total assets | $1,754,147 |   | $--- |
|--------|--------------|------------|--------|------|

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

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

|   | 9/30/07(unaudited) |   | 12/31/06 |
|--------|--------------------|--------|----------|

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

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

|   | Accounts payable and accrued expenses | $60,657 |   | $4,000 |
|--------|---------------------------------------|---------|--------|--------|

|   | Total current liabilities | 60,657 |   | 4,000 |
|--------|---------------------------|--------|--------|-------|

| Long-term debt | 488,000 |   | --- |
|----------------|---------|--------|-----|

|   | Total liabilities | 548,657 |   | --- |
|--------|-------------------|---------|--------|-----|

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

|   | Common stock, $.01 par value; 80,000,000 sharesauthorized, 50,851,215 and 9,316,131 shares issuedand outstanding | 508,512 |   | 93,161 |
|--------|------------------------------------------------------------------------------------------------------------------|---------|--------|--------|

|   | Additional paid-in capital | 8,594,337 |   | 6,816,233 |
|--------|----------------------------|-----------|--------|-----------|

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

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

|   | Accumulated deficit | (6,423,994) |   | (6,423,944) |
|--------|---------------------|-------------|--------|-------------|

|   | Deficit accumulated during the development stage | (1,273,415) |   | (439,450) |
|--------|--------------------------------------------------|-------------|--------|-----------|

|   | Total stockholders' equity (deficit) | 1,205,490 |   | (4,000) |
|--------|--------------------------------------|-----------|--------|---------|

|   | Total liabilities and stockholders’ deficit | $1,754,147 |   | $--- |
|--------|---------------------------------------------------|------------|--------|------|

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

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

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

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

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

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

|   | For the Three Months and Nine Months Ended September 30, 2007 and 2006, andthe Period from Commencement of Development Stage (June 7, 2004) toSeptember 30, 2007 |   |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|

|   |   | Three Months Ended9/30 |   | Nine Months Ended9/30 |   |
|--------|--------|------------------------|--------|-----------------------|--------|

|   | 2007 |   | 2006 |   | 2007 |   | 2006 |   | Period fromCommencementofDevelopment Stage(June 7,2004) to9/30/07 |
|--------|------|--------|------|--------|------|--------|------|--------|-------------------------------------------------------------------|

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

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

|   | Consulting | 80,000 |   | --- |   | 454,700 |   | --- |   | 634,700 |
|--------|------------|--------|--------|-----|--------|---------|--------|-----|--------|---------|

|   | Legal andprofessional | 26,224 |   | --- |   | 130,456 |   | --- |   | 256,456 |
|--------|-----------------------|--------|--------|-----|--------|---------|--------|-----|--------|---------|

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

|   | General andadministrative | 48,772 |   | 76,500 |   | 249,269 |   | 76,600 |   | 330,719 |
|--------|---------------------------|--------|--------|--------|--------|---------|--------|--------|--------|---------|

|   | Total operatingexpenses | 154,996 |   | 76,500 |   | 834,425 |   | 76,600 |   | 1,273,875 |
|--------|-------------------------|---------|--------|--------|--------|---------|--------|--------|--------|-----------|

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

|   | Interest expense | (13,918) |   | --- |   | (23,721) |   | --- |   | (23,721) |
|--------|------------------|----------|--------|-----|--------|----------|--------|-----|--------|----------|

|   | Interest income | 5,174 |   | --- |   | 11,056 |   | --- |   | 11,056 |
|--------|-----------------|-------|--------|-----|--------|--------|--------|-----|--------|--------|

|   | Rental income | --- |   | --- |   | 13,125 |   | --- |   | 13,125 |
|--------|---------------|-----|--------|-----|--------|--------|--------|-----|--------|--------|

|   | Total otherincome (expense) | (8,744) |   | --- |   | 460 |   | --- |   | 460 |
|--------|-----------------------------|---------|--------|-----|--------|-----|--------|-----|--------|-----|

| Net loss | $(163,740) |   | $(76,500) |   | $(833,965) |   | $(76,600) |   | $(1,273,415) |
|----------|------------|--------|-----------|--------|------------|--------|-----------|--------|--------------|

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

| Income (loss) per share | $(0.00) |   | $(0.00) |   | $(0.02) |   | $(0.00) |   |   |
|-------------------------|---------|--------|---------|--------|---------|--------|---------|--------|--------|

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

| Weighted averagenumber of sharesoutstanding (basic anddiluted) | 50,822,548 |   | 2,760,754 |   | 36,858,961 |   | 2,260,754 |   |   |
|----------------------------------------------------------------|------------|--------|-----------|--------|------------|--------|-----------|--------|--------|

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

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

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

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

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

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

|   | For the Nine Months Ended September 30, 2007 and 2006, and the Period fromCommencement of Development Stage (June 7, 2004) to September 30, 2007 |   |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------|--------|

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

|   | 2007 |   | 2006 |   | Period fromCommencementofDevelopment Stage (June7,2004) to9/30/07 |
|--------|------|--------|------|--------|-------------------------------------------------------------------|

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

| Net loss | $(833,965) |   | $(76,600) |   | $(1,273,415) |
|----------|------------|--------|-----------|--------|--------------|

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

|   | Depreciation | 183 |   | --- |   | 183 |
|--------|--------------|-----|--------|-----|--------|-----|

|   | Stock issued for services andcompensation | 484,700 |   | 76,500 |   | 867,200 |
|--------|-------------------------------------------|---------|--------|--------|--------|---------|

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

|   | Increase in prepaids | (24,751) |   | --- |   | (24,751) |
|--------|----------------------|----------|--------|-----|--------|----------|

|   | Increase in accounts payable | 16,508 |   | 100 |   | 20,508 |
|--------|------------------------------|--------|--------|-----|--------|--------|

| Net cash used for operating activities | (357,325) |   | --- |   | (358,275) |
|----------------------------------------|-----------|--------|-----|--------|-----------|

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

| CASH FLOWS FROM INVESTINGACTIVITIES |   |   |   |   |   |
|-------------------------------------|--------|--------|--------|--------|--------|

|   | Payments on construction in progress | (47,549) |   | --- |   | (47,549) |
|--------|--------------------------------------|----------|--------|-----|--------|----------|

| Net cash used for financing activities | (47,549) |   | --- |   | (47,549) |
|----------------------------------------|----------|--------|-----|--------|----------|

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

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

|   | Proceeds from sale of common stockfor cash | 75,000 |   | --- |   | 75,000 |
|--------|--------------------------------------------|--------|--------|-----|--------|--------|

|   | Cash acquired in acquisition | 358,618 |   | --- |   | 358,618 |
|--------|------------------------------|---------|--------|-----|--------|---------|

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

|   | Proceeds from long-term debt, net ofdeferred borrowing costs | 473,918 |   | --- |   | 473,918 |
|--------|--------------------------------------------------------------|---------|--------|-----|--------|---------|

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

| Net cash provided by financing activities | 907,536 |   | --- |   | 904,498 |
|-------------------------------------------|---------|--------|-----|--------|---------|

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

| NET CHANGE IN CASH | 502,662 |   | --- |   | 498,674 |
|--------------------|---------|--------|-----|--------|---------|

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

| Cash, end of period | $502,662 |   | $--- |   | $502,662 |
|---------------------|----------|--------|------|--------|----------|

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

| Cash paid for: |   |   |   |   |   |
|----------------|--------|--------|--------|--------|--------|

|   | Interest | $11,915 |   | $--- |   | $21,718 |
|--------|----------|---------|--------|------|--------|---------|

|   | Cash acquired in acquisition | $--- |   | $--- |   | $--- |
|--------|------------------------------|------|--------|------|--------|------|

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

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

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

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

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

|   | September 30,2007 (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/A. |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

| On April 9, 2007, the Company acquired ALL Energy Company, a Delaware corporation, pursuantto which ALL Energy Company became a wholly-owned subsidiary of the Company.  TheCompany issued 25,330,000 shares of stock in exchange for 100% of the stock of ALL EnergyCompany.  The transaction resulted in net assets in the amount of approximately $1,630,000 beingconsolidated into the financial statements of the Company consisting mostly of cash ofapproximately $359,000 and land and other capitalized assets of approximately $1,149,000. |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| The activity related to ALL Energy Company from the acquisition date in April 2007 through theend of the fiscal period has been included in the accompanying financial statements. |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Note 3 | Change in Corporate Name |
|--------|--------------------------|

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

| Note 4 | 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.  The financial statement presentation has been adjusted to reflect this forward stock split. |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Note 5 | Prepaid Expenses |
|--------|------------------|

| At September 30, 2007, the Company had prepaid expenses of $103,022, of which $87,820 relatesto expenses incurred in connection with its efforts in acquiring certain ethanol-related businesses.In future periods, prepaid expenses associated with successful acquisitions are capitalized, whilethose associated with unsuccessful acquisition efforts are expensed.  The remaining $15,202represents prepaid insurance. |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Note 6 | Land, Equipment and Construction in Progress |
|--------|----------------------------------------------|

| The Company owns, as a result of its acquisition of ALL Energy Company, 152.5 acres nearManchester, Iowa, which is carried at its cost of $951,238.  The Company also acquiredapproximately $1,100 of office equipment.  Since its inception in August 2006, ALL EnergyCompany has paid approximately $182,233 in construction-related expenses associated with theCompany’s proposed ethanol production facility to be constructed on the Manchester, Iowa, land. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Note 7 | Long-term Debt |
|--------|----------------|

| On April 5, 2007, the Company obtained financing on the land discussed in Note 6. In thetransaction, the Company obtained $488,000 in loan proceeds. The loan associated with thefinancing transaction has a three year term, with interest at “prime” and monthly interest-onlypayments until the end of the term. |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Note 8 | Non-cash Investing and Financing |
|--------|----------------------------------|

| In conjunction with the acquisition discussed in Note 2, the Company received net assets, afterassuming certain liabilities, of approximately $1,271,000 net of approximately $359,000 of cashreceived in the acquisition. |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Note 9 | Capital Stock |
|--------|---------------|

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

| During the first nine months of 2007, the Company issued a total of 2,360,000 shares of commonstock to third-party consultants for services, resulting in $454,700 in non-cash compensationexpense included in professional and legal expenses and consulting fees in the accompanyingstatements of operations.  The Company measured the transactions at the respective dates ofissuance at 50% of the then-quoted market price.  There are no performance commitments orpenalties for non-performance, therefore the Company recorded the expense at the date ofissuance. |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| During the first nine months of 2007, the Company issued a total of 30,000 to two of its directorsas bonuses.  The issuance of these shares resulted in $30,000 in general and administrativeexpense in the accompanying statement of operations.  The Company measured the transactionsat the date of issuance at the then-quoted market price.  There are no performance commitmentsor penalties for non-performance, therefore the Company recorded the expense at the date ofissuance. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| During the first nine months of 2006, the Company did not issue any shares to third-partyconsultants for services. |
|--------------------------------------------------------------------------------------------------------------------|

| In September 2006, the Company issued a total of 2,250,000 shares as a retention bonus to oneof its officers.  The shares had an estimated value of $76,500 at the date of issuance. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|         |
|--------------|
| <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 condensed consolidated financial statements, we cannotguarantee that our estimates and assumptions will be accurate. If such estimates and assumptionsprove to be inaccurate, we may be required to make adjustments to these estimates in futureperiods. |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 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. 123R.  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. |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Nine Month Periods Ended September 30, 2007 and 2006 |
|------------------------------------------------------|

| During the nine months ended September 30, 2006, we did not engage in active businessoperations and had no revenues. Since our acquisition of ALL Energy Company in April 2007,we have engaged in active business operations, but have not yet generated revenues from ouractivities.During the current period, we acquired a company that had spent approximately $164,861 withrespect to pre-construction activities relating to or proposed Manchester, Iowa, ethanol productionfacility.  It is expected that the level of these expenditures will be substantially less during theremainder of 2007. |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Our monthly operating expenses unrelated to pre-construction activities, which including salaryand professional fees, currently are approximately $40,000.  The level of such operating expensesis expected to remain substantially the same for the remainder of 2007 and the first half of 2008,unless we are able complete the acquisition of an existing ethanol production facility, of whichthere is no assurance.  Should we successful in so acquiring an existing facility, our operatingexpenses will significantly increase, although we are unable to predict the amount of suchincrease. |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 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 up to approximately $100 million for our proposed purchase of Ace Ethanol, LLC,a Stanley, 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.  Recently, we submitted a letter of intent to acquire an existingethanol production facility located in Iowa, with an annual ethanol production capacity of between30 and 40 million gallons. |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 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 or another ethanol productionfacility, we would, immediately upon completion of such acquisition transaction, become anethanol producer. In this regard, we have obtained a intent to provide up to $121 million of debtfinancing.  Also, we have obtained an additional letter of intent for over $25 million in secondarydebt financing.  However, the final terms of these financing facilities remain subject to finalnegotiation. |
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| 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 September 30, 2007, we had $502,662 in cash and working capital of $545,027.  In April 2007,we obtained $488,000 in cash from a loan secured by the 150 acres of land we own in Manchester,Iowa, for which we paid approximately $951,000.  Our current cash position 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 and up toapproximately $100 million to purchase Ace Ethanol, LLC or another ethanol production facility.Our management believes it will be able to secure the financing, in the form of debt, equity or acombination thereof, necessary to complete these opportunities.  In this regard, we have obtaineda intent to provide up to $121 million of debt financing.  Also, in the near future, we expect toobtain an additional letter of intent for over $25 million in financing.  However, the final termsof these financing facilities remain subject to final negotiation.  Should we fail to negotiatesuccessfully the final terms of these funding arrangement, our plan of business would likely beunsuccessful 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 nine month periods ended September 30, 2007 and 2006, we made no capitalexpenditures. |
|--------------------------------------------------------------------------------------------------|

| In March 2007 and prior to our acquiring ALL Energy Company, that company purchasedapproximately 150 acres of real property located adjacent to Manchester, Iowa, for approximately$951,000 in cash.  We intend to construct the Manchester facility on this site. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Should we obtain the capital required to build the Manchester facility or to purchase an existingethanol production facility, our capital expenditures during the remainder of 2007 and the first halfof 2008 will be significant.  However, we cannot predict the exact amount of these potentialexpenditures. |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

| 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. |
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|   |
|--------|

| 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 September 30, 2007, we issued the following unregisteredsecurities: |
|--------------------------------------------------------------------------------------------------|

| 1. | (a) | Securities Sold. In September 2007, 30,000 shares of our common stock were issued. |
|----|-----|------------------------------------------------------------------------------------|

|   | (b) | Underwriter or Other Purchasers. Such shares of common stock were issued to two ofour directors, Brian K. Gibson (15,000 shares) and Steven J. Leavitt (15,000 shares). |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Consideration. Such shares of common stock were issued as bonuses and were valuedat $30,000, 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, as a transaction not involving a public offering. These issuees weresophisticated investors capable of evaluating an investment in the company. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Subsequent to September 30, 2007, we have issued the following unregistered securities: |
|-----------------------------------------------------------------------------------------|

| 1. | (a) | Securities Sold. In October 2007, 50,000 shares of our common stock were issued. |
|----|-----|----------------------------------------------------------------------------------|

|   | (b) | Underwriter or Other Purchasers. Such shares of common stock were issued to KMCasey No1, LTD. |
|--------|-----|-----------------------------------------------------------------------------------------------|

|   | (c) | Consideration. Such shares of common stock were issued pursuant to consultingagreement and were valued at $21,250, 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, as a transaction not involving a public offering. This issuee was asophisticated investor capable of evaluating an investment in the company. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

| 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 be effected in the near future. |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

| 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 September 30, 2007, we did not file a Current Report on Form 8-K. |
|-------------------------------------------------------------------------------------------------|

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

| 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: November 19, 2007 | ALL FUELS & ENERGY COMPANY |
|-------------------------|--------------------------------|

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

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

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