| Delaware                                                                            | 20-5415048                         |
|-------------------------------------------------------------------------------------|------------------------------------|
| (State                or Other Jurisdiction of                                      | (I.R.S.                Employer    |
| Incorporation                or Organization)                                       | Identification                No.) |
|                                                                                |                               |
| 461                Fifth Avenue, 25thFloor,                New York, New York 10017 | 10017                              |
| (Address                of Principal Executive                Offices)              | (Zip                code)          |
|                                                                                |                               |

**Securities      registered under Section 12(b) of the Exchange Act:**

**Securities      registered under Section 12(g) of the Exchange Act:**

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|                        |                                                                                                                                                                    |   | Page   |
|-----------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|
| PART                  I     |
|                        |                                                                                                                                                                    |   |   |
| ITEM                  1.    | DESCRIPTION                  OF BUSINESS.                                                                                                                               |   | 1      |
| ITEM                  2.    | DESCRIPTION                  OF PROPERTY                                                                                                                                |   | 14     |
| ITEM                  3.    | LEGAL                  PROCEEDINGS                                                                                                                                      |   | 14     |
| ITEM                  4.    | SUBMISSION                  OF MATTERS TO A VOTE OF SECURITY HOLDERS                                                                                                    |   | 14     |
|                        |                                                                                                                                                                    |   |   |
| PART                  II    |
|                        |                                                                                                                                                                    |   |   |
| ITEM                  5.    | MARKET                  FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS                                                                                               |   | 15     |
| ITEM                  6.    | MANAGEMENT’S                  DISCUSSION AND ANALYSIS OR PLAN OF OPERATION                                                                                        |   | 16     |
| ITEM                  7.    | FINANCIAL                  STATEMENTS                                                                                                                                   |   | 18     |
| ITEM                  8.    | CHANGES                  IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL                  DISCLOSURE                                                  |   | 18     |
| ITEM                  8A(T) | CONTROLS                  AND PROCEDURES                                                                                                                                |   | 18     |
| ITEM                  8B.   | OTHER                  INFORMATION                                                                                                                                      |   | 18     |
|                        |                                                                                                                                                                    |   |   |
| PART                  III   |
|                        |                                                                                                                                                                    |   |   |
| ITEM                  9.    | DIRECTORS,                  EXECUTIVE OFFICERS, PROMOTERS, CONTROL PERSONS AND CORPORATE GOVERNANCE                  COMPLIANCE; WITH SECTION 16(a) OF THE EXCHANGE ACT |   | 19     |
| ITEM                  10.   | EXECUTIVE                  COMPENSATION                                                                                                                                 |   | 20     |
| ITEM                  11.   | SECURITY                  OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED                  STOCKHOLDER MATTERS                                        |   | 20     |
| ITEM                  12.   | CERTAIN                  RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR                  INDEPENDENCE                                                              |   | 21     |
| ITEM                  13.   | EXHIBITS                                                                                                                                                                |   | 23     |
| ITEM                  14.   | PRINCIPAL                  ACCOUNTANT FEES AND SERVICES                                                                                                                 |   | 24     |

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**PART      I**

| **ITEM                1.** | **DESCRIPTION                OF BUSINESS.** |
|----------------------------|---------------------------------------------|

**Recent      Developments**

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**Opportunity      for stockholder approval of business combination**

**Conversion      Rights**

**Liquidation      if no business combination**

|   | · | our                board of directors will convene and adopt a specific plan of dissolution                and liquidation, which it will then vote to recommend to our stockholders;                at such time it will also cause to be prepared a preliminary proxy                statement setting out such plan of dissolution and liquidation as                well as                the board’s recommendation of such                plan; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | we                will promptly file our preliminary proxy statement with the Securities                and                Exchange Commission; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | if                the Securities and Exchange Commission does not review the preliminary                proxy statement, then, 10 days following the filing of such preliminary                proxy statement, we will mail the definitive proxy statement to our                stockholders, and 10-20 days following the mailing of such definitive                proxy statement, we will convene a meeting of our stockholders, at                which                they will vote on our plan of dissolution and liquidation;                and |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | if                the Securities and Exchange Commission does review the preliminary                proxy                statement, we currently estimate that we will receive their comments                30                days after the filing of such proxy statement. We would then mail                the                definitive proxy statement to our stockholders following the conclusion                of                the comment and review process (the length of which we cannot predict                with                any certainty, and which may be substantial) and we will convene                a meeting                of our stockholders at which they will vote on our plan of dissolution                and                liquidation. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Competition**

**Employees**

----

***Risks      associated with our business***

***We      are a development stage company with no operating history and, accordingly,      you      will not have any basis on which to evaluate our ability to achieve our business      objective.***

***If      we are forced to liquidate before a business combination and distribute the      trust account, our public stockholders will receive less than $8.00 per share      and our warrants will expire worthless.***

***If      we are unable to consummate a business combination, our public stockholders      will      be forced to wait until March 5, 2009 before we commence      liquidation.***

***You      will not be entitled to protections normally afforded to investors of blank      check companies.***

***A      decline in interest rates could limit the amount available to fund our search      for a target business or businesses and complete a business combination since      we      will depend on interest earned on the trust account to fund our search, to      pay      our tax obligations and to complete our initial business combination.***

----

***If      third parties bring claims against us, the proceeds held in trust could be      reduced and the per-share liquidation price received by stockholders will be      less than $7.71 per share.***

***Our      stockholders may be held liable for claims by third parties against us to the      extent of distributions received by them.***

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***An      effective registration statement may not be in place when an investor desires      to      exercise warrants, thus precluding such investor from being able to exercise      his, her or its warrants and causing such warrants to be practically      worthless.***

***An      investor will only be able to exercise a warrant if the issuance of common      stock      upon such exercise has been registered or qualified or is deemed exempt under      the securities laws of the state of residence of the holder of the      warrants.***

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***We      may issue shares of our capital stock or debt securities to complete a business      combination, which would reduce the equity interest of our stockholders and      likely cause a change in control of our ownership.***

|   | · | may                significantly reduce the equity interest of investors in our initial                public offering; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------|

|   | · | may                subordinate the rights of holders of common stock if we issue preferred                stock with rights senior to those afforded to our common                stock; |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | will                likely cause a change in control if a substantial number of our shares                of                common stock are issued, which may affect, among other things, our                ability                to use our net operating loss carry forwards, if any, and could result                in                the resignation or removal of our present officers and directors;                and |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | may                adversely affect prevailing market prices for our common                stock. |
|--------|--------|---------------------------------------------------------------------------------------------------|

|   | · | default                and foreclosure on our assets if our operating revenues after a business                combination are insufficient to repay our debt                obligations; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | acceleration                of our obligations to repay the indebtedness even if we make all                principal                and interest payments when due if we breach certain covenants that                require                the maintenance of certain financial ratios or reserves without a                waiver                or renegotiation of that covenant; |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | our                immediate payment of all principal and accrued interest, if any,                if the                debt security is payable on demand;                and |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | our                inability to obtain necessary additional financing if the debt security                contains covenants restricting our ability to obtain such financing                while                the debt security is outstanding. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

***Our      ability to successfully effect a business combination and to be successful      thereafter will be totally dependent upon the efforts of our key personnel,      some      of whom may join us following a business combination.***

***Our      key personnel may negotiate employment or consulting agreements with a target      business in connection with a particular business combination. These agreements      may provide for them to receive compensation following a business combination      and as a result, may cause them to have conflicts of interest in determining      whether a particular business combination is the most advantageous to      us.***

----

***Our      officers and directors will allocate their time to other businesses thereby      causing conflicts of interest in their determination as to how much time to      devote to our affairs. This conflict of interest could have a negative impact      on      our ability to consummate a business combination.***

***Some      of our officers and directors are now, and may in the future become, affiliated      with entities engaged in business activities similar to those intended to be      conducted by us and, accordingly, may have conflicts of interest in determining      which entity a particular business opportunity should be presented      to.***

***All      of our officers and directors own shares of our common stock issued prior to      our      initial public offering and warrants purchased after our initial public      offering. These securities will not participate in liquidation distributions.      Therefore, our officers and directors may have a conflict of interest in      determining whether a particular target business is appropriate for a business      combination.***

***If      our common stock becomes subject to the SEC’s penny stock rules, broker-dealers      may experience difficulty in completing customer transactions and trading      activity in our securities may be adversely affected.***

|   | · | make                a special written suitability determination for the                purchaser; |
|--------|--------|---------------------------------------------------------------------------------------------------|

----

|   | · | receive                the purchaser’s written agreement to the transaction prior to                sale; |
|--------|--------|-----------------------------------------------------------------------------------------------------------------|

|   | · | provide                the purchaser with risk disclosure documents which identify certain                risks                associated with investing in “penny stocks” and which describe the market                for these “penny stocks” as well as a purchaser’s legal remedies;                and |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | obtain                a signed and dated acknowledgment from the purchaser demonstrating                that                the purchaser has actually received the required risk disclosure                document                before a transaction in a “penny stock” can be                completed. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

***After      our business combination, we will be solely dependent on a single business      and a      limited number of products or services.***

|   | · | solely                dependent upon the performance of a single business,                or |
|--------|--------|----------------------------------------------------------------------------------------------|

|   | · | dependent                upon the development or market acceptance of a single or limited                number of                products, processes or services. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

***The      ability of our stockholders to exercise their conversion rights may not allow      us      to effectuate the most desirable business combination or optimize our capital      structure.***

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***Because      of our limited resources and structure, we may not be able to consummate an      attractive business combination.***

***We      may be unable to obtain additional financing, if required, to complete a      business combination or to fund the operations and growth of the target      business, which could compel us to restructure or abandon a particular business      combination.***

***Our      founding stockholders, including our officers and directors, control a      substantial interest in us and thus may influence certain actions requiring      a      stockholder vote.***

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***Our      outstanding warrants and option may have an adverse effect on the market price      of our common stock and make it more difficult to effect a business      combination.***

***Our      management’s ability to require holders of our warrants to exercise such      warrants on a cashless basis will cause holders to receive fewer shares of      common stock upon their exercise of the warrants than they would have received      had they been able to exercise their warrants for      cash.***

***If      our founding stockholders or the purchasers of the insider warrants exercise      their registration rights with respect to their initial shares or insider      warrants and underlying securities, it may have an adverse effect on the market      price of our common stock and the existence of these rights may make it more      difficult to effect a business combination.***

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***Investors      in our initial public offering may engage in resale transactions only in those      states that we have registered the initial public offering and a limited number      of other jurisdictions where an applicable exemption from registration      exists.***

***If      we are deemed to be an investment company, we may be required to institute      burdensome compliance requirements and our activities may be restricted, which      may make it difficult for us to complete a business      combination.***

|   | · | restrictions                on the nature of our investments;                and |
|--------|--------|----------------------------------------------------------------------------------|

|   | · | restrictions                on the issuance of securities. |
|--------|--------|------------------------------------------------------------|

|   | · | registration                as an investment company; |
|--------|--------|-------------------------------------------------------|

|   | · | adoption                of a specific form of corporate structure;                and |
|--------|--------|---------------------------------------------------------------------------------------|

|   | · | reporting,                record keeping, voting, proxy, compliance policies and procedures                and                disclosure requirements and other rules and                regulations. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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***If      we effect a business combination with a company located outside of the United      States, we would be subject to a variety of additional risks that may negatively      impact our operations.***

|   | · | rules                and regulations or currency conversion or corporate withholding taxes                on                individuals; |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | tariffs                and trade barriers; |
|--------|--------|--------------------------------------------|

|   | · | regulations                related to customs and import/export matters; |
|--------|--------|--------------------------------------------------------------------------|

|   | · | longer                payment cycles; |
|--------|--------|---------------------------------------|

|   | · | tax                issues, such as tax law changes and variations in tax laws as compared                to                the United States; |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | currency                fluctuations and exchange controls; |
|--------|--------|-------------------------------------------------------------|

|   | · | challenges                in collecting accounts receivable; |
|--------|--------|--------------------------------------------------------------|

|   | · | cultural                and language differences; and |
|--------|--------|-------------------------------------------------------|

|   | · | employment                regulations. |
|--------|--------|----------------------------------------|

***If      we effect a business combination with a company located outside of the United      States, the laws applicable to such company will likely govern all of our      material agreements and we may not be able to enforce our legal rights.***

***Our      directors may not be considered “independent” under the policies of the North      American Securities Administrators Association, Inc.***

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***Because      our initial stockholders’ initial equity investment for their initial shares was      only $25,000, our offering may be disallowed by state administrators that follow      the North American Securities Administrators Association, Inc. Statement of      Policy on development stage companies.***

| **ITEM                2.** | **DESCRIPTION                OF PROPERTY** |
|----------------------------|--------------------------------------------|

| **ITEM                3.** | **LEGAL                PROCEEDINGS** |
|----------------------------|--------------------------------------|

| **ITEM                4.** | **SUBMISSION                OF MATTERS TO A VOTE OF SECURITY                HOLDERS** |
|----------------------------|---------------------------------------------------------------------------------------|

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**PART        II**

| **ITEM                  5.** | **MARKET                  FOR COMMON EQUITY AND RELATED STOCKHOLDER                  MATTERS** |
|------------------------------|------------------------------------------------------------------------------------------------|

|                                                    |   | Units  |   | Common                  Stock |   | Warrants |   |
|---------------------------------------------------------|--------|--------|--------|-------------------------------|--------|----------|--------|
|                                                    |   | High   |   | Low                           |   | High     |   | Low |   | High |   | Low |   |
| 2008:                                                   |   |   |   |                          |   |     |   |   |   |   |   |   |   |
|                                                    |   |   |   |                          |   |     |   |   |   |   |   |   |   |
| First                  Quarter (through March 28, 2008) |   | $      | 9.15   |                          | $      | 8.33     |   | $ | 7.67 |   | $ | 7.30 |   | $ | 1.32 |   | $ | 0.95 |   |
|                                                    |   |   |   |                          |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| 2007:                                                   |   |   |   |                          |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| First                  Quarter                          |   | $      | 8.80   |                          | $      | 8.00     |   | $ | 7.27 |   | $ | 7.25 |   | $ | 1.45 |   | $ | 1.40 |   |
| Second                  Quarter                         |   | $      | 9.00   |                          | $      | 8.68     |   | $ | 7.35 |   | $ | 7.24 |   | $ | 1.65 |   | $ | 1.35 |   |
| Third                  Quarter                          |   | $      | 9.00   |                          | $      | 8.40     |   | $ | 7.43 |   | $ | 7.27 |   | $ | 1.62 |   | $ | 1.13 |   |
| Fourth                  Quarter                         |   | $      | 8.48   |                          | $      | 8.20     |   | $ | 7.40 |   | $ | 7.28 |   | $ | 1.25 |   | $ | 0.92 |   |

**Holders**

**Dividends**

**Recent      Sales of Unregistered Securities and Use of Proceeds**

| Stockholders                      |   | Number                  of Shares |      |
|-----------------------------------|--------|-----------------------------------|-----------|
| Laurence                  S. Levy |   |                              | 1,800,000 |   |
| Edward                  Levy      |   |                              | 900,000   |   |
| Isaac                  Kier       |   |                              | 112,500   |   |

----

**Initial      Public Offering**

| **ITEM                6.** | **MANAGEMENT’S                DISCUSSION AND ANALYSIS OR PLAN OF                OPERATION** |
|----------------------------|---------------------------------------------------------------------------------------------------|

**Forward      Looking Statements**

**Plan      of Operations**

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**Off-Balance      Sheet Arrangements**

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| **ITEM                7.** | **FINANCIAL                STATEMENTS**** ** |
|----------------------------|---------------------------------------------------|

| **ITEM                8.** | **CHANGES                IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL                DISCLOSURE** |
|----------------------------|------------------------------------------------------------------------------------------------------------------------|

**ITEM      8A(T)**
**CONTROLS      AND PROCEDURES**

**Evaluation      of Disclosure Controls and Procedures**

**Management      Report on Internal Control Over Financial Reporting**

**Change      in Internal Control Over Financial Reporting**

**ITEM      8B.**
**OTHER      INFORMATION**

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**PART      III**

| **ITEM                9.** | **DIRECTORS,                EXECUTIVE OFFICERS, PROMOTERS, CONTROL PERSONS AND CORPORATE GOVERNANCE                COMPLIANCE; WITH SECTION 16(a) OF THE EXCHANGE                ACT** |
|----------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Directors      and Executive Officers**

| **Name**                        |   | **Age** |   | **Position**                                                                  |
|---------------------------------|--------|---------|--------|-------------------------------------------------------------------------------|
|                            |   |    |   |                                                                          |
| Laurence                S. Levy |   | 51      |   | Chairman                of the Board of Directors and Chief Executive Officer |
|                            |   |    |   |                                                                          |
| Edward                Levy      |   | 44      |   | President                and Director                                         |

***Laurence      S. Levy***

***Edward      Levy***

----

**Section      16(a) Beneficial Ownership Reporting Compliance**

**Code      of Ethics**

**Corporate      Governance**

| **ITEM                10.** | **EXECUTIVE                COMPENSATION** |
|-----------------------------|-------------------------------------------|

| **ITEM                11.** | **SECURITY                OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED                STOCKHOLDER MATTERS**** ** |
|-----------------------------|--------------------------------------------------------------------------------------------------------------------------------------------|

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| **Name                    and Address of Beneficial Owner(1)**                                                                                                  |   | **Amount                    and****Nature                    of****Beneficial****Ownership**   |      | **Approximate****Percentage****of                    Outstanding****Common                    Stock**   |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------|-----------|-------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                            |   |                                                                  |      |                                                                                                         |   |
| Laurence                    S. Levy                                                                                                                             |   |                                                                                                     | 1,800,000 | (2)                                                                                                               |   | 11.4 | % |
| Edward                    Levy                                                                                                                                  |   |                                                                                                     | 900,000   | (3)                                                                                                               |   | 5.7 | % |
| David                    M. Knott4485                    Underhill Boulevard, Suit 205Syosset,                    New York 11791                                |   |                                                                                                     | 1,745,000 | (4)                                                                                                               |   | 11.1 | % |
| Sapling,                    LLC505                    Fifth Avenue23rd                    FloorNew                    York, New York 10017                      |   |                                                                                                     | 1,213,430 | (5)                                                                                                               |   | 7.7 | % |
| Goldentree                    Asset Management LP300                    Park Avenue, 21st                    Floor,New                    York , New York 10022 |   |                                                                                                     | 800,000   | (6)                                                                                                               |   | 5.1 | % |
| All                    directors and executive officers as a group (two                    individuals)                                     |   |                                                                                                     | 2,700,000 | (7)                                                                                                               |   | 17.1 | % |

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| (1) | Unless                otherwise indicated, the business address of each of the individuals                is                461 Fifth Avenue, 25th Floor, New York, New York                10017. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Includes                (i) 450,000 shares of common stock held by NMJ Trust, a trust established                for the benefit of Mr. Levy’s minor children and (ii) 3,000 shares of                common stock held by Jane Levy, Mr. Levy’s sister, but does not include                977,333 shares of common stock issuable upon exercise of warrants                held by                Mr. Levy that are not exercisable and will not become exercisable                within                60 days. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Does                not include 488,667 shares of common stock issuable upon exercise                of                warrants held by Mr. Levy that are not exercisable and will not become                exercisable within 60 days. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | This                information is based solely on the contents of a filing on Schedule                13G/A                dated December 31, 2007 filed by David M. Knott, Dorset Management                Corporation, Shoshone Partners, L.P., and Knott Partners Offshore                Master                Fund, L.P and Form 4s filed by Mr. Knott on March 10, 2008 and March                19,                2008. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | This                information is based solely on the contents of a filing on Schedule                13G/A                dated December 31,2007 filed by Sapling, LLC, Fir Tree Capital Opportunity                Master Fund, L.P. and Fir Tree, Inc, which reports beneficial ownership                of                1,515,000 shares, which is equivalent to 9.6% of outstanding common                stock. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6) | This                information is based solely on the contents of a filing on Schedule                13G                dated December 31, 2007 filed by Goldentree Asset Management LP,                Goldentree Asset Management LLC, Steven A.                Tanabaum. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (7) | Does                not include 1,466,000 shares of common stock issuable upon exercise                of                warrants held by our officers and directors individuals that are                not                exercisable and will not become exercisable within 60                days. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **ITEM                12.** | **CERTAIN                RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR                INDEPENDENCE** |
|-----------------------------|------------------------------------------------------------------------------------------------------------|

| **Name**                        |   | **Number                of Shares** |   | **Relationship                to Us**                            |
|---------------------------------|--------|-------------------------------------|--------|------------------------------------------------------------------|
| Laurence                S. Levy |   | 1,800,000                           |   | Chairman                of the Board and Chief Executive Officer |
|                            |   |                                |   |                                                             |
| Edward                Levy      |   | 900,000                             |   | President                and Director                            |
|                            |   |                                |   |                                                             |
| Isaac                Kier       |   | 112,500                             |   | Stockholder                                                      |

----

----

**Independence      of Directors **

| **ITEM                13.** | **EXHIBITS** |
|-----------------------------|--------------|

| **Exhibit                No.** |   | **Description**                                                                                                                                                                                |
|--------------------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                           |   |                                                                                                                                                                                           |
| 3.1                            |   | Amended                and Restated Certificate of Incorporation. (1)                                                                                                                          |
|                           |   |                                                                                                                                                                                           |
| 3.2                            |   | Amended                and Restated Bylaws of the Corporation, effective as of September                28,                2007. (3)                                                           |
|                           |   |                                                                                                                                                                                           |
| 4.1                            |   | Specimen                Unit Certificate. (1)                                                                                                                                                  |
|                           |   |                                                                                                                                                                                           |
| 4.2                            |   | Specimen                Common Stock Certificate. (1)                                                                                                                                          |
|                           |   |                                                                                                                                                                                           |
| 4.3                            |   | Specimen                Warrant Certificate. (1)                                                                                                                                               |
|                           |   |                                                                                                                                                                                           |
| 4.4                            |   | Form                of Unit Purchase Option to be granted to Representative.                (1)                                                                                                |
|                           |   |                                                                                                                                                                                           |
| 4.5                            |   | Form                of Warrant Agreement between Continental Stock Transfer & Trust                Company and the Registrant. (1)                                                         |
|                           |   |                                                                                                                                                                                           |
| 10.1                           |   | Letter                Agreement among the Registrant, EarlyBirdCapital, Inc. and Laurence                S.                Levy. (1)                                                           |
|                           |   |                                                                                                                                                                                           |
| 10.2                           |   | Letter                Agreement among the Registrant, EarlyBirdCapital, Inc. and Edward                Levy.                (1)                                                                |
|                           |   |                                                                                                                                                                                           |
| 10.3                           |   | Letter                Agreement among the Registrant, EarlyBirdCapital, Inc. and Isaac                Kier.                (1)                                                                 |
|                           |   |                                                                                                                                                                                           |
| 10.4                           |   | Form                of Investment Management Trust Agreement between Continental Stock                Transfer & Trust Company and the Registrant.                (1)                 |
|                           |   |                                                                                                                                                                                           |
| 10.5                           |   | Form                of Stock Escrow Agreement between the Registrant, Continental Stock                Transfer & Trust Company and the Initial Stockholders.                (1)      |
|                           |   |                                                                                                                                                                                           |
| 10.6                           |   | Form                of Letter Agreement between ProChannel Management LLC and Registrant                regarding administrative support. (1)                                                  |
|                           |   |                                                                                                                                                                                           |
| 10.7                           |   | Form                of Promissory Note, dated as of August 21, 2006, issued to each of                Laurence S. Levy, Edward Levy and Isaac Kier. (1)                                        |
|                           |   |                                                                                                                                                                                           |
| 10.8                           |   | Form                of Registration Rights Agreement among the Registrant and the Initial                Stockholders. (1)                                                                     |
|                           |   |                                                                                                                                                                                           |
| 10.9                           |   | Form                of Subscription Agreement among the Registrant, Graubard Miller and                each                of Laurence S. Levy, Edward Levy and Isaac Kier.                (1) |

| 10.10  |   | Letter                  Agreement among the Registrant, EarlyBird Capital, Inc. and NMJ                  Trust.                  (1)                                                                                                                              |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                              |
| 10.11  |   | Letter                  Agreement among the Registrant, EarlyBird Capital, Inc. and Jane                  Levy.                  (1)                                                                                                                              |
|   |   |                                                                                                                                                                                                                                                              |
| 10.12  |   | Purchase                  Agreement, dated March 6, 2008, by and among Hyde Park Acquisition                  Corp.,                  Essex Crane Rental Corp., Essex Holdings LLC, the members of Essex                  Holdings LLC and KCP Services, LLC. (2) |
|   |

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| 31.1   |   | Section                302 Certification by Chief Executive Officer & Chief Financial                Officer. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                              |
| 32.1   |   | Section                906 Certification by Chief Executive Officer & Chief Financial                Officer. |

| (1) | Incorporated                by reference to the Registrant’s Registration Statement on Form S-1 (SEC                File 333-138452) |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Incorporated                by reference to the Registrant’s Current Report on Form 8-K as Exhibit                10.1, dated March 6, 2008 and filed with the SEC on the same                date. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **ITEM                14.** | **PRINCIPAL                ACCOUNTANT FEES AND                SERVICES** |
|-----------------------------|--------------------------------------------------------------------------|

**Audit      Fees**

**Audit-Related      Fees**

**Tax      Fees**

**All      Other Fees**

**Audit      Committee Approval**

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| Reports of Independent Registered                Public                Accounting Firms | F-2                                              |
|-----------------------------------------------------------------------------------------|--------------------------------------------------|
| **Financial                Statements**                                                 |                                             |
| **Balance                  Sheet**                                                      | **F-4**                                          |
| **Statement                  of Operations**                                            | **F-5**                                          |
| **Statement                  of Stockholders' Equity**                                  | **F-6**                                          |
| **Statement                  of Cash Flows**                                            | **F-7**                                          |
| **Notes to Financial Statements**                                                       | **F-8                  -                  F-16** |

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**Report      of Independent Registered Public Accounting Firm**

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**REPORT      OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

**GOLDSTEIN      GOLUB KESSLER LLP**

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**Hyde        Park Acquisition Corp.**

**(a          corporation in the development stage)**

**Balance          Sheet**

|                                                                                                                                                                                                                                                                                                                                         |   |   | December                      31, 2007   |   |   | December                      31, 2006   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|----------------------------------------------------|--------|--------|----------------------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                         |   |   |                                               |   |   |                                               |   |
| **ASSETS**                                                                                                                                                                                                                                                                                                                                   |   |   |                                               |   |   |                                               |   |
| Current                      Assets:                                                                                                                                                                                                                                                                                                         |   |   |                                               |   |   |                                               |   |
| Cash                                                                                                                                                                                                                                                                                                                                         |   | $      | 1,051,801                                          |   | $      | 43,276                                             |   |
| Cash                      held in Trust Fund                                                                                                                                                                                                                                                                                                 |   |   | 100,927,634                                        |   |   | -                                                  |   |
| Deferred                      tax asset                                                                                                                                                                                                                                                                                                      |   |   | 28,000                                             |   |   | -                                                  |   |
| Prepaid                      expenses and other current assets                                                                                                                                                                                                                                                                               |   |   | 33,418                                             |   |   | **-**                                              |   |
|                                                                                                                                                                                                                                                                                                                                         |   |   |                                               |   |   |                                               |   |
| Total                      current assets                                                                                                                                                                                                                                                                                                    |   |   | 102,040,853                                        |   |   | 43,276                                             |   |
|                                                                                                                                                                                                                                                                                                                                         |   |   |                                               |   |   |                                               |   |
| Deferred                      costs                                                                                                                                                                                                                                                                                                          |   |   | 528,331                                            |   |   | 126,165                                            |   |
|                                                                                                                                                                                                                                                                                                                                         |   |   |                                               |   |   |                                               |   |
| Total                      Assets                                                                                                                                                                                                                                                                                                            |   | $      | 102,569,184                                        |   | $      | 169,441                                            |   |
|                                                                                                                                                                                                                                                                                                                                         |   |   |                                               |   |   |                                               |   |
| **LIABILITIES                      AND STOCKHOLDERS' EQUITY**                                                                                                                                                                                                                                                                                |   |   |                                               |   |   |                                               |   |
| Current                      liabilities                                                                                                                                                                                                                                                                                                     |   |   |                                               |   |   |                                               |   |
| Accrued                      expenses                                                                                                                                                                                                                                                                                                        |   | $      | 730,410                                            |   | $      | 19,843                                             |   |
| Deferred                      underwriters fees                                                                                                                                                                                                                                                                                              |   |   | 1,552,500                                          |   |   | -                                                  |   |
| Deferred                      interest                                                                                                                                                                                                                                                                                                       |   |   | 243,405                                            |   |   | -                                                  |   |
| Notes                      payable to initial stockholders                                                                                                                                                                                                                                                                                   |   |   | -                                                  |   |   | 125,000                                            |   |
|                                                                                                                                                                                                                                                                                                                                         |   |   |                                               |   |   |                                               |   |
| Total                      current liabilities                                                                                                                                                                                                                                                                                               |   |   | 2,526,315                                          |   |   | 144,843                                            |   |
|                                                                                                                                                                                                                                                                                                                                         |   |   |                                               |   |   |                                               |   |
| Common                      stock, subject to possible conversion, 2,586,206 shares                                                                                                                                                                                                                                                          |   |   | 19,932,029                                         |   |   | -                                                  |   |
|                                                                                                                                                                                                                                                                                                                                         |   |   |                                               |   |   |                                               |   |
| Commitment                                                                                                                                                                                                                                                                                                                                   |   |   |                                               |   |   |                                               |   |
|                                                                                                                                                                                                                                                                                                                                         |   |   |                                               |   |   |                                               |   |
| Stockholders'                      Equity                                                                                                                                                                                                                                                                                                    |   |   |                                               |   |   |                                               |   |
| Preferred                      stock, $.0001 par value, Authorized 1,000,000 shares; none                      issued                                                                                                                                                                                                                        |   |   | -                                                  |   |   | -                                                  |   |
| Common                      stock, $.0001 par value, Authorized 40,000,000 shares, issued                      and                      outstanding 15,750,000 shares (which includes 2,586,206 subject                      to                      possible conversion) and 2,812,500, in 2007 and 2006,                      respectively |   |   | 1,575                                              |   |   | 281                                                |   |
| Additional                      paid-in capital                                                                                                                                                                                                                                                                                              |   |   | 78,410,547                                         |   |   | 24,719                                             |   |
| Retained                      earnings (Deficit) accumulated during development stage                                                                                                                                                                                                                                                        |   |   | 1,698,718                                          |   |   | (402                                               | )      |
|                                                                                                                                                                                                                                                                                                                                         |   |   |                                               |   |   |                                               |   |
| Total                      stockholders' equity                                                                                                                                                                                                                                                                                              |   |   | 80,110,840                                         |   |   | 24,598                                             |   |
|                                                                                                                                                                                                                                                                                                                                         |   |   |                                               |   |   |                                               |   |
| Total                      Liabilities and Stockholders' Equity                                                                                                                                                                                                                                                                              |   | $      | 102,569,184                                        |   | $      | 169,441                                            |   |

*See        accompanying notes to financial        statements.*

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**Hyde        Park Acquisition Corp.**

**(a        corporation in the development stage)**

**Statements        of Operations**

|                                                                    |   |                                             |       | Period                  from August 21,  |   | Period                  from August 21,  |   |
|-------------------------------------------------------------------------|--------|--------------------------------------------------|------------|-----------------------------------------------|--------|-----------------------------------------------|--------|
|                                                                    |   | For                    the Year Ended  |       | 2006                  (Inception) to     |   | 2006                  (Inception) to     |   |
|                                                                    |   | December                  31, 2007          |       | December                  31, 2006       |   | December                  31, 2007       |   |
| Formation                  costs                                        |   | $                                                | -          |                                          | $      | 800                                           |   | $ | 800 |   |
| Trustee                  fees                                           |   |                                             | 13,000     |                                          |   | -                                             |   |   | 13,000 |   |
| Management                  fees                                        |   |                                             | 73,790     |                                          |   | -                                             |   |   | 73,790 |   |
| Professional                  fees                                      |   |                                             | 42,986     |                                          |   | -                                             |   |   | 42,986 |   |
| Officers'                  liability insurance                          |   |                                             | 23,360     |                                          |   | -                                             |   |   | 23,360 |   |
| Operating                  costs                                        |   |                                             | 43,330     |                                          |   | -                                             |   |   | 43,330 |   |
| Dead                  deal costs                                        |   |                                             | 193,195    |                                          |   | -                                             |   |   | 193,195 |   |
| Delaware                  franchise taxes                               |   |                                             | 67,000     |                                          |   | 750                                           |   |   | 67,750 |   |
|                                                                    |   |                                             |       |                                          |   |                                          |   |   |   |   |
| Operating                  loss                                         |   |                                             | (456,661   | )                                             |   | (1,550                                        | )      |   | (458,211 | ) |
|                                                                    |   |                                             |       |                                          |   |                                          |   |   |   |   |
| Interest                  income                                        |   |                                             | 2,543,781  |                                          |   | 1,148                                         |   |   | 2,544,929 |   |
|                                                                    |   |                                             |       |                                          |   |                                          |   |   |   |   |
| Net                  income (loss) before income taxes                  |   |                                             | 2,087,120  |                                          |   | (402                                          | )      |   | 2,086,718 |   |
|                                                                    |   |                                             |       |                                          |   |                                          |   |   |   |   |
| Provision                  for income taxes                             |   |                                             | 388,000    |                                          |   | -                                             |   |   | 388,000 |   |
|                                                                    |   |                                             |       |                                          |   |                                          |   |   |   |   |
| Net                  income (loss) for the period                       |   | $                                                | 1,699,120  |                                          | $      | (402                                          | )      | $ | 1,698,718 |   |
|                                                                    |   |                                             |       |                                          |   |                                          |   |   |   |   |
|                                                                    |   |                                             |       |                                          |   |                                          |   |   |   |   |
| Weighted                  average shares outstanding, basic and diluted |   |                                             | 13,224,144 |                                          |   | 2,812,500                                     |   |   | 10,443,524 |   |
|                                                                    |   |                                             |       |                                          |   |                                          |   |   |   |   |
| Basic                  and diluted net income (loss) per share          |   | $                                                | 0.13       |                                          | $      | (0.00                                         | )      | $ | 0.16 |   |
|                                                                    |   |                                             |       |                                          |   |                                          |   |   |   |   |

*See        accompanying notes to financial        statements.*

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**Hyde        Park Acquisition Corp.**

**(a        corporation in the development stage)**

**Statement        of Stockholders’ Equity**

|                                                                                                                                                                                       |   |   |                                |   |   |         |   |   |                      |   |   | Additional                   |   |   | Earnings   |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|-------------------------------------|--------|--------|--------------|--------|--------|---------------------------|--------|--------|-----------------------------------|--------|--------|----------------------|--------|
|                                                                                                                                                                                       |   |   |                                |   |   |         |   |   |                      |   |   | Paid-In                      |   |   | accumulated     |   |
|                                                                                                                                                                                       |   |   | Common                  Stock  |   |   |         |   |   | developmental   |   |   | during                  the  |   |
|                                                                                                                                                                                       |   |   | Shares                         |   |   | Amount  |   |   | Capital              |   |   | stage                        |   |   | Total           |   |
| Issuance                  of common stock to initial stockholders on August 21, 2006 at $.0089                  per                  share                                                 |   |   | 2,812,500                           |   | $      | 281          |   | $      | 24,719                    |   | $      | -                                 |   | $      | 25,000               |   |
|                                                                                                                                                                                       |   |   |                                |   |   |         |   |   |                      |   |   |                              |   |   |                 |   |
| Net                  loss for the period ended December 31, 2006                                                                                                                           |   |   | -                                   |   |   | -            |   |   | -                         |   |   | (402                              | )      |   | (402                 | )      |
|                                                                                                                                                                                       |   |   |                                |   |   |         |   |   |                      |   |   |                              |   |   |                 |   |
| Balance                  at December 31, 2006                                                                                                                                              |   |   | 2,812,500                           |   |   | 281          |   |   | 24,719                    |   |   | (402                              | )      |   | 24,598               |   |
|                                                                                                                                                                                       |   |   |                                |   |   |         |   |   |                      |   |   |                              |   |   |                 |   |
|                                                                                                                                                                                       |   |   |                                |   |   |         |   |   |                      |   |   |                              |   |   |                 |   |
| Sale                  of 11,250,000 units, net of underwriters' discount and offering                  expenses                  (2,248,875 shares subject to possible redemption)         |   |   | 11,250,000                          |   |   | 1,125        |   |   | 84,060,426                |   |   | -                                 |   |   | 84,061,551           |   |
|                                                                                                                                                                                       |   |   |                                |   |   |         |   |   |                      |   |   |                              |   |   |                 |   |
| Sale                  of 1,687,500 additional units, net of underwriters' discount and                  offering                  expenses (337,331 shares subject to possible redemption) |   |   | 1,687,500                           |   |   | 169          |   |   | 12,757,331                |   |   | -                                 |   |   | 12,757,500           |   |
|                                                                                                                                                                                       |   |   |                                |   |   |         |   |   |                      |   |   |                              |   |   |                 |   |
| Proceeds                  from issuance of underwriter's option                                                                                                                            |   |   | -                                   |   |   | -            |   |   | 100                       |   |   | -                                 |   |   | 100                  |   |
|                                                                                                                                                                                       |   |   |                                |   |   |         |   |   |                      |   |   |                              |   |   |                 |   |
| Proceeds                  subject to possible redemption of 2,586,206 shares                                                                                                               |   |   | -                                   |   |   | -            |   |   | (19,932,029               | )      |   | -                                 |   |   | (19,932,029          | )      |
|                                                                                                                                                                                       |   |   |                                |   |   |         |   |   |                      |   |   |                              |   |   |                 |   |
| Sale                  of 1,500,000 warrants to initial stockholders                                                                                                                        |   |   | -                                   |   |   | -            |   |   | 1,500,000                 |   |   | -                                 |   |   | 1,500,000            |   |
|                                                                                                                                                                                       |   |   |                                |   |   |         |   |   |                      |   |   |                              |   |   |                 |   |
| Net                  income for the year ended December 31, 2007                                                                                                                           |   |   | -                                   |   |   | -            |   |   | -                         |   |   | 1,699,120                         |   |   | 1,699,120            |   |
|                                                                                                                                                                                       |   |   |                                |   |   |         |   |   |                      |   |   |                              |   |   |                 |   |
| Balance                  December 31, 2007                                                                                                                                                 |   |   | 15,750,000                          |   | $      | 1,575        |   | $      | 78,410,547                |   | $      | 1,698,718                         |   | $      | 80,110,840           |   |

*See        accompanying notes to financial        statements.*

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**Hyde        Park Acquisition Corp.**

**(a        corporation in the development stage)**

**Statement        of Cash Flows**

|   |   |                               |   | Period                  from       |   | Period                  from       |   |
|--------|--------|------------------------------------|--------|------------------------------------|--------|------------------------------------|--------|
|   |   | For                  the           |   | August                  21, 2006   |   | August                  21, 2006   |   |
|   |   | Year                  Ended        |   | (Inception)                  to    |   | (Inception)                  to    |   |
|   |   | December                  31, 2007 |   | December                  31, 2006 |   | December                  31, 2007 |   |
|   |   |                               |   |                               |   |                               |   |

| **CASH                    FLOW FROM OPERATING ACTIVITIES**                                                                                                                                       |   |   |       |   |   |   |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|------------|--------|--------|--------|--------|
| Net                    income (loss)                                                                                                                                                             |   | $      | 1,699,120  |   | $      | (402   | )      | $ | 1,698,718 |   |
| Adjustments                    to reconcile net income (loss)                    to                    net cash provided by (used                    in) operating                    Activities |   |   |       |   |   |   |   |   |   |   |
| Deferred                    income taxes                                                                                                                                                         |   |   | (28,000    | )      |   | -      |   |   | (28,000 | ) |
| Changes                    in assets and liabilities:                                                                                                                                            |   |   |       |   |   |   |   |   |   |   |
| Interest                    earned on trust fund                                                                                                                                                 |   |   | (2,767,634 | )      |   | -      |   |   | (2,767,634 | ) |
| Increase                    in prepaid expenses                                                                                                                                                  |   |   | (33,418    | )      |   | -      |   |   | (33,418 | ) |
| Increase                    in deferred interest                                                                                                                                                 |   |   | 243,405    |   |   |   |   |   | 243,405 |   |
| Increase                    in accrued expenses                                                                                                                                                  |   |   | 311,329    |   |   | 750    |   |   | 312,079 |   |
| Net                    cash provided by                    (used in)                    operating activities                                                                                     |   |   | (575,198   | )      |   | 348    |   |   | (574,850 | ) |

|                                                                               |   |   |        |   |   |     |   |   |        |   |
|------------------------------------------------------------------------------------|--------|--------|-------------|--------|--------|----------|--------|--------|-------------|--------|
| **CASH                  FLOWS FROM INVESTING ACTIVITIES**                          |   |   |        |   |   |     |   |   |        |   |
| Cash                  held in Trust Fund                                           |   |   | (99,710,000 | )      |   | -        |   |   | (99,710,000 | )      |
| Payment                  of deferred costs                                         |   |   | (110,000    | )      |   |     |   |   | (110,000    | )      |
| Disbursements                  from Trust                                          |   |   | 1,550,000   |   |   | -        |   |   | 1,550,000   |   |
| Net                  cash used in investing activities                             |   |   | (98,270,000 | )      |   | -        |   |   | (98,270,000 | )      |
|                                                                               |   |   |        |   |   |     |   |   |        |   |
| **CASH                  FLOWS FROM FINANCING ACTIVITIES**                          |   |   |        |   |   |     |   |   |        |   |
| Gross                  proceeds from initial public offering                       |   |   | 103,500,000 |   |   | -        |   |   | 103,500,000 |   |
| Proceeds                  from underwriters purchase option                        |   |   | 100         |   |   | -        |   |   | 100         |   |
| Proceeds                  from issuance of warrants                                |   |   | 1,500,000   |   |   | -        |   |   | 1,500,000   |   |
| Payment                  of costs of initial public offering                       |   |   | (5,021,377  | )      |   | (107,072 | )      |   | (5,128,449  | )      |
| Proceeds                  from notes payable, stockholders                         |   |   | -           |   |   | 125,000  |   |   | 125,000     |   |
| Repayment                  of notes payable, stockholders                          |   |   | (125,000    | )      |   | -        |   |   | (125,000    | )      |
| Proceeds                  from sale of common stock                                |   |   | -           |   |   | 25,000   |   |   | 25,000      |   |
|                                                                               |   |   |        |   |   |     |   |   |        |   |
| Net                  cash provided by financing activities                         |   |   | 99,853,723  |   |   | 42,928   |   |   | 99,896,651  |   |
|                                                                               |   |   |        |   |   |     |   |   |        |   |
| Net                  increase in cash                                              |   |   | 1,008,525   |   |   | 43,276   |   |   | 1,051,801   |   |
|                                                                               |   |   |        |   |   |     |   |   |        |   |
| Cash                  at beginning of period                                       |   |   | 43,276      |   |   | -        |   |   | -           |   |
|                                                                               |   |   |        |   |   |     |   |   |        |   |
| Cash                  at end of period                                             |   | $      | 1,051,801   |   | $      | 43,276   |   | $      | 1,051,801   |   |
|                                                                               |   |   |        |   |   |     |   |   |        |   |
| Supplemental                  schedule of non-cash investing/financing activities: |   |   |        |   |   |     |   |   |        |   |
| Deferred                  underwriters fees                                        |   |   | 1,552,500   |   |   | -        |   |   | 1,552,500   |   |
| Accrual                  of costs of proposed public offering                      |   |   | -           |   |   | 19,093   |   |   | -           |   |
| Deferred                  acquisition costs in accrued expenses                    |   |   | 418,831     |   |   | -        |   |   | 418,331     |   |

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**Hyde        Park Acquisition Corp.**

**(a        corporation in the development stage)**

**Notes        to Financial Statements**

| **1.** |   | **Organization****and****Business****Operations**                         |   | Hyde                  Park Acquisition Corp. (the “Company”) was incorporated in Delaware on                  August 21, 2006 as a blank check company whose objective is to                  effect a                  merger, capital stock exchange, asset acquisition or other similar                  business combination with an operating business. All                  activity from August 21, 2006 (inception) through December 31,                  2007                  relates to the Company’s formation and initial public offering described                  below. The Company has selected December 31 as its fiscal                  year-end. The                  registration statement for the Company’s initial public offering                  (“Offering”) was declared effective March 5, 2007. The Company consummated                  the offering on March 13, 2007 (Note 2). The Company’s management has                  broad discretion with respect to the specific application of the                  net                  proceeds of this Offering, although substantially all of the net                  proceeds                  of this Offering are intended to be generally applied toward consummating                  a merger, capital stock exchange, asset acquisition or other similar                  business combination with an operating business (“Business Combination”).                  Furthermore, there is no assurance that the Company will be able                  to                  successfully effect a Business Combination. Upon the closing of                  the                  Offering, including the over-allotment option, an amount of $99,710,000                  of                  the net proceeds was deposited in an interest-bearing trust account                  (“Trust Account”) until the earlier of (i) the consummation of a Business                  Combination or (ii) liquidation of the Company. Under the agreement                  governing the Trust Account, funds will only be invested in United                  States                  “government securities” within the meaning of Section 2(a)(16) of the                  Investment Company Act of 1940 with a maturity of 180 days or less                  or in                  money market funds meeting certain conditions under Rule 2a-7 promulgated                  under the Investment Company Act of 1940. The remaining net proceeds                  (not                  held in the Trust Account) may be used to pay for business, legal                  and                  accounting due diligence on prospective acquisitions and continuing                  general and administrative expenses. Additionally, up to an aggregate                  of                  $1,550,000 of interest earned on the Trust Account balance may                  be released                  to the Company to fund working capital requirements and tax                  obligations. The                  Company, after signing a definitive agreement for the acquisition                  of a                  target business, will submit such transaction for stockholder approval.                  In                  the event that stockholders owning 20% or more of the shares sold                  in the                  Offering vote against the Business Combination and exercise their                  conversion rights described below, the Business Combination will                  not be                  consummated. All                  of the Company’s stockholders prior to the Offering, including all of the                  officers and directors of the Company (“Initial Stockholders”), have                  agreed to vote their 2,812,500 founding shares of common stock                  in                  accordance with the vote of the majority in interest of all other                  stockholders of the Company (“Public Stockholders”) with respect to any                  Business Combination. After consummation of a Business Combination,                  these                  voting safeguards will no longer be applicable. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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**Hyde        Park Acquisition Corp.**

**(a        corporation in the development stage)**

**Notes        to Financial Statements**

|   |   |   |   | With                  respect to a Business Combination which is approved and consummated,                  any                  Public Stockholder who voted against the Business Combination may                  demand                  that the Company convert his shares. The per share conversion price                  will                  equal the amount in the Trust Account, calculated as of two business                  days                  prior to the consummation of the proposed Business Combination,                  divided by                  the number of shares of common stock held by Public Stockholders                  at the                  consummation of the Offering. Accordingly, Public Stockholders                  holding                  19.99% of the aggregate number of shares owned by all Public Stockholders                  may seek conversion of their shares in the event of a Business                  Combination. Such Public Stockholders are entitled to receive their                  per                  share interest in the Trust Account computed without regard to                  the shares                  held by Initial Stockholders. Accordingly, a portion of the net                  proceeds                  from the offering (19.99% of the amount placed in the Trust Account)                  has                  been classified as common stock subject to possible conversion                  in the                  accompanying balance sheet. The                  Company’s Amended and Restated Certificate of Incorporation provides for                  mandatory liquidation of the Company in the event that the Company                  does                  not consummate a Business Combination by March 5, 2009. If the                  Company has                  not completed a Business Combination by such date, its corporate                  existence                  will cease except for the purposes of winding up its affairs. In                  the event                  of liquidation, it is likely that the per share value of the residual                  assets remaining available for distribution (including Trust Fund                  assets)                  will be less than the initial public offering price per share in                  the                  Offering (assuming no value is attributed to the Warrants contained                  in the                  Units offered in the Offering discussed in Note 2). *Cash                  and Cash Equivalents*                  -                  Cash and cash equivalents are deposited with financial institutions                  as                  well as in short-term money market instruments with maturities                  of three                  months or less when purchased. *Concentration                  of Credit Risk*                  -                  Financial instruments that potentially subject the Company to a                  significant concentration of credit risk consist primarily of cash                  and                  cash equivalents. The Company may maintain deposits in federally                  insured                  financial institutions in excess of federally insured limits. However,                  management believes the Company is not exposed to significant credit                  risk                  due to the financial position of the depository institutions in                  which                  those deposits are held.  |
|--------|--------|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**Hyde          Park Acquisition Corp.**

**(a          corporation in the development stage)**

**Notes          to Financial Statements**

|   |   |   |   | *Fair                    Value of Financial Instruments**-* The fair value of the Company’s assets and liabilities that qualify                    as financial instruments under SFAS No. 107 “Disclosures about Fair Value                    of Financial Instruments,” approximate their carrying                    amounts. The                    Company accounts for derivative instruments, if any, in accordance                    with                    SFAS No. 133 “Accounting for Derivative Instruments and Hedging                    Activities,” as amended (“SFAS 133”) which establishes accounting and                    reporting standards for derivative instruments. *Deferred                    Income Taxes**-* Deferred income taxes are provided for the differences                    between                    bases of assets and liabilities for financial reporting and income                    tax                    purposes. A valuation allowance is established when necessary                    to reduce                    deferred tax assets to the amount expected to be realized. *Deferred                    Investment Costs -*Deferred                    investment costs represent expenses incurred pursuant to a potential                    business combination arrangement. These costs are either capitalized                    when                    the deal is consummated are charged to operations at the time                    the deal is                    abandoned. *Deferred                    Interest -*Deferred                    interest represents 19.99% of the excess interest earned on the                    investments held in trust above the $1,550,000 allowable to be                    released to                    the Company to fund working capital requirements and tax                    obligations. *Net                    Income per Share**-* Net income per share is computed by dividing net income                    by the                    weighted-average number of shares of common stock outstanding                    during the                    period. The                    effect of the 12,937,500 outstanding warrants issued in connection                    with                    the initial public offering, the 1,500,000 outstanding warrants                    issued in                    connection with the private placement and the 600,000 units (consisting                    of                    600,000 common shares and 6,000,000 warrants for a total of 1,200,000                    potential dilutive shares) included in the Option described in                    Note 2                    has                    not been considered in diluted earnings per share calculations                    since such                    warrants and options are contingently exercisable.  *Use                    of Estimates**-* The preparation of financial statements in conformity with                    accounting principles generally accepted in the United States                    of America                    requires management to make estimates and assumptions that affect                    the                    reported amounts of assets and liabilities at the date of the                    financial                    statements and the reported amounts of expenses during the reporting                    period. Actual results could differ from those estimates. |
|--------|--------|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**Hyde          Park Acquisition Corp.**

**(a          corporation in the development stage)**

**Notes          to Financial Statements**

|   |   |                                         |   | *New                  Accounting Pronouncements*                  -                  Management does not believe that any recently issued, but not yet                  effective, accounting standards if currently adopted would have                  a material                  effect on the accompanying financial statements. Effective                  January 1, 2007, the Company adopted the provisions of FASB Interpretation                  No. 48 ("FIN 48"), “Accounting for Uncertainty in Income Taxes - an                  interpretation of FASB Statement No. 109." FIN 48 provides detailed                  guidance for the financial statement recognition, measurement,                  and                  disclosure of uncertain tax positions recognized in the financial                  statement in accordance with SFAS No. 109. Tax positions must meet                  a “more                  likely than not” recognition threshold at the effective date to be                  recognized upon the adoption of FIN 48 and in subsequent periods.                  Upon the                  adoption of FIN 48, the Company had no unrecognized tax benefits.                  During                  2007, the Company recognized no adjustments for uncertain benefits.                   The                  Company recognizes interest and penalties, if any, related to uncertain                  tax positions in the                  computation of income before income taxes. No interest and penalties                  related to uncertain tax positions were accrued at December 31,                  2007. The                  2006 tax year remains open to examination by the taxing authorities                  in the                  jurisdiction in which the Company operates. The Company expects                  no                  material changes to unrecognized tax positions within the next                  twelve                  months.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|--------|--------|----------------------------------------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                         |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| **2.** |   | **Initial                  Public Offering** |   | On                  March 13, 2007, the Company sold 11,250,000 units (“Units”) in the                  Offering at $8.00 per Unit. On March 15, 2007, the Company consummated                  the                  sale of an additional 1,687,500                  Units which were subject to the underwriter’s over-allotment                  option.** **Each                  Unit consists of one share of the Company’s common stock, $.0001 par                  value, and one Redeemable Common Stock Purchase Warrant (“Warrants”). Each                  Warrant entitles the holder to purchase from the Company one share                  of                  common stock at an exercise price of $5.00 commencing the later                  of the                  completion of a Business Combination and March 5, 2008 and expiring                  March                  4, 2011. The Warrants will be redeemable, at the Company’s option, with                  the prior consent of EarlyBirdCapital, Inc., the representative                  of the                  underwriters in the Offering (“Representative”), at a price of $.01 per                  Warrant upon 30 days’ notice after the Warrants become exercisable, only                  in the event that the last sale price of the common stock is at                  least                  $11.00 per share for any 20 trading days within a 30 trading day                  period                  ending on the third day prior to the date on which notice of redemption                  is                  given. If the Company redeems the Warrants as described above,                  management                  will have the option to require any holder that wishes to exercise                  his                  Warrant to do so on a “cashless basis.” In such event, the holder would                  pay the exercise price by surrendering his Warrants for that number                  of                  shares of Common Stock equal to the quotient obtained by dividing                  (x) the                  product of the number of shares of Common Stock underlying the                  Warrants,                  multiplied by the difference between the exercise price of the                  Warrants                  and the “fair market value” (defined below) by (y) the fair market value.                  The “fair market value” shall mean the average reported last sale price of                  the Common Stock for the 10 trading days ending on the third trading                  day                  prior to the date on which the notice of redemption is sent to                  holders of                  Warrants. In accordance with the warrant agreement relating to                  the                  Warrants sold and issued in the Offering, the Company is only required                  to                  use its best efforts to maintain the effectiveness of the registration                  statement covering the Warrants. The Company will not be obligated                  to                  deliver securities, and there are no contractual penalties for                  failure to                  deliver securities, if a registration statement is not effective                  at the                  time of exercise. Additionally, in the event that a registration                  is not                  effective at the time of exercise, the holder of such Warrant shall                  not be                  entitled to exercise such Warrant and in no event (whether in the                  case of                  a registration statement not being effective or otherwise) will                  the                  Company be required to net cash settle the warrant exercise. Consequently,                  the Warrants may expire unexercised and unredeemed.   |

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**Hyde        Park Acquisition Corp.**

**(a        corporation in the development stage)**

**Notes        to Financial Statements**

|   |   |   |   | The                  Company paid the underwriters in the Offering an underwriting discount                  of                  5.5% of the gross proceeds of the Offering and a non-accountable                  expense                  allowance of 0.5% of the gross proceeds of the Offering. However,                  the                  underwriters agreed that 1.5% of the underwriting discount would                  be                  deferred and would not be paid unless and until the Company consummated                  a                  Business Combination. Accordingly, $1,552,500 has been recorded                  as                  deferred underwriting fees in the accompanying December 31, 2007                  balance                  sheet. In connection with this Offering, the Company also issued                  an option                  (“Option”), for $100, to the Representative to purchase 600,000 Units at                  an exercise price of $8.80 per Unit. The Company accounted for                  the fair                  value of the Option, inclusive of the receipt of the $100 cash                  payment, as                  an expense of the Offering resulting in a charge directly to stockholders’                  equity. The Company estimated that the fair value of the Option                  was                  approximately $2,019,940 ($3.3549 per Unit) using a Black-Scholes                  option-pricing model. The fair value of the Option granted to the                  Representative is estimated as of the date of grant using the following                  assumptions: (1) expected volatility of 43.78%, (2) risk-free interest                  rate of 4.67% and (3) expected life of 5 years. The Option may                  be                  exercised for cash or on a “cashless” basis, at the holder's option, such                  that the holder may use the appreciated value of the Option (the                  difference between the exercise prices of the Option and the underlying                  Warrants and the market price of the Units and underlying securities)                  to                  exercise the option without the payment of any cash. The Company                  will have                  no obligation to net cash settle the exercise of the Option or                  the                  Warrants underlying the Option. The holder of the Option will not                  be                  entitled to exercise the Option or the Warrants underlying the                  Option                  unless a registration statement covering the securities underlying                  the                  Option is effective or an exemption from registration is available.                  If the                  holder is unable to exercise the Option or underlying Warrants,                  the Option                  or Warrants, as applicable, will expire worthless. |
|--------|--------|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |

----

**Hyde          Park Acquisition Corp.**

**(a          corporation in the development stage)**

**Notes          to Financial Statements**

| **3.** |   | **Private                  Placement**                                    |   | The                  Company’s directors and certain special advisors and their members                  purchased 1,500,000 Warrants (‘‘Insider Warrants’’) at $1.00 per Warrant                  (for an aggregate purchase price of $1,500,000) privately from                  the                  Company. These purchases took place simultaneously with the consummation                  of the Offering. All of the proceeds received from these purchases                  were                  placed in the Trust Account. The Insider Warrants are identical                  to the                  Warrants underlying the Units sold in the Offering except that                  if the                  Company calls the Warrants for redemption, the Insider Warrants                  may be                  exercisable, at the Initial Stockholders’ option, on a “cashless basis” so                  long as such securities are held by such Initial Stockholders or                  their                  affiliates. Furthermore, the purchasers have agreed that the Insider                  Warrants will not be sold or transferred by them until after the                  Company                  has completed a Business Combination. |
|--------|--------|---------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| **4.** |   | **Limited                    Distributions of Income from Trust Account** |   | Upon                    written request from the Company, the Trustees may distribute                    amounts to                    the Company to fund working capital requirements and tax obligations.                    The                    maximum amount of distributions that the Company may request                    and the                    Trustee shall distribute is $1,550,000, of which the Company                    has received                    in full through December 31, 2007. The Trust account activity                    for the year                    ended December 31, 2007 is as                    follows:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |

|   | Amount                    placed in Trust                                                                      | $                    99,710,000 |
|--------|----------------------------------------------------------------------------------------------------------------|---------------------------------|
|   | Interest                    earned on Trust (includes $243,405 of deferred interest                    income) |  2,767,634                 |
|   | Amounts                    withdrawn for income tax payments and working capital                               |  (1,550,000)               |
|   | Balance                    at December 31, 2007                                                                | $100,927,634                    |
|   |                                                                                                           |                            |

| **5.**                                     |   | **Notes                  Payable, Stockholders** |   | The                  Company issued an aggregate of $125,000 in unsecured promissory                  notes to                  its Initial Stockholders, who are also officers and directors of                  the                  Company, on August 21, 2006. The notes were non-interest bearing                  and were                  paid from the net proceeds of the Offering.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|--------------------------------------------|--------|--------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                       |   |                                             |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| **6.**       |   | **Commitments**                                  |   | The                  Company occupies office space provided by ProChannel Management                  LLC, an                  affiliate of Laurence S. Levy, our chairman of the board and chief                  executive officer. Such affiliate has agreed that, until the Company                  consummates a Business Combination, it will make such office space,                  as                  well as certain office and secretarial services, available to the                  Company,                  as may be required by the Company from time to time. The Company                  has                  agreed to pay such entity $7,500 per month for such services commencing                  on                  March 5, 2007. The statements of operations for the year ended                  December                  31, 2007 and the period from August 21, 2006 (inception) to December                  31,                  2007 include $73,790 of expense related to this agreement. Pursuant                  to letter agreements dated as of August 17, 2006 with the Company                  and the                  underwriter, the Initial Stockholders have waived their right to                  receive                  distributions with respect to their founding shares upon the Company’s                  liquidation.  |

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**Hyde          Park Acquisition Corp.**

**(a          corporation in the development stage)**

**Notes          to Financial Statements**

|   |   |                               |   | The                  Initial Stockholders and the holders of the Insider Warrants (or                  underlying securities) will be entitled to registration rights                  with                  respect to their founding shares or Insider Warrants (or underlying                  securities), as the case may be. The holders of the majority of                  the                  founding shares are entitled to demand that the Company register                  these                  shares at any time commencing three months prior to the first anniversary                  of the consummation of a Business Combination. The holders of the                  Insider                  Warrants (or underlying securities) are entitled to demand that                  the                  Company register these securities at any time after the Company                  consummates a Business Combination. In addition, the Initial Stockholders                  and holders of the Insider Warrants (or underlying securities)                  have                  certain ‘‘piggy-back’’ registration rights on registration statements                  filed after the Company’s consummation of a Business                  Combination. EarlyBirdCapital,                  Inc. has been engaged by the Company to act as the Company’s non-exclusive                  investment banker in connection with a proposed Business Combination.                  For                  assisting the Company in structuring and negotiating the terms                  of a                  Business Combination, the Company will pay EarlyBirdCapital, Inc.                  a cash                  transaction fee equal to 1% of the total consideration paid in                  connection                  with the Business Combination, with a maximum fee to be paid of                  $900,000.                  Additionally, the Company paid the fees and issued the securities                  to the                  underwriters in the Offering as described in Note 2                  above. |
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|   |   |                               |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| **7.** |   | **Preferred                Stock** |   | The                  Company is authorized to issue 1,000,000 shares of preferred stock                  with                  such designations, voting and other rights and preferences as may                  be                  determined from time to time by the Board of Directors. The                  agreement with the underwriters prohibits the Company, prior to                  a Business                  Combination, from issuing preferred stock which participates in                  the                  proceeds of the Trust Account or which votes as a class with the                  Common                  Stock on a Business Combination.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   |   |                               |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| **8.** |   | **Income                Taxes**    |   | The provision                for                income taxes consists of the following:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |

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**Hyde        Park Acquisition Corp.**

**(a        corporation in the development stage)**

**Notes        to Financial Statements**

|                              |   | Year                    Ended               |          |
|-----------------------------------|--------|---------------------------------------------|---------------|
|                              |   |                      December 31, 2007 |          |
| Current:                          |   |                                        |          |
| State                             |   | $                                           | 192,000       |   |
| Local                             |   |                                        | 224,000       |   |
| Total                    Current  |   | $                                           | 416,000       |   |
|                              |   |                                        |          |   |
| Deferred:                         |   |                                        |          |   |
| State         |   |                                        | (13,000       | )  |
| City                              |   |                                        |  (15,000 | ) |
| Total                    Deferred |   |                                        |  (28,000 | ) |
|                              |   |                                        |          |   |
| Total                             |   |                                        | 388,000       |   |

|   |   |   |   | The total                provision                for income taxes differs from that amount which would be computed                by                applying the U.S. Federal income tax rate to income before provision                for                income taxes as follows: |
|--------|--------|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                                 |   | Year                    Ended              |   |
|----------------------------------------------------------------------|--------|--------------------------------------------|--------|
|                                                                 |   |  December                    31, 2007 |   |
|                                                                 |   |                                       |   |
| Statutory                    federal income tax rate                 |   |                                       | 34.0   | % |
| State                    and local income taxes                      |   |                                       | 18.5   |   |
| Dividend                    income not subject to Federal income tax |   |                                       | (38.3  | ) |
| Change                  in valuation allowance                       |   |                                       | 4.4    |   |
|                                                                 |   |                                       |   |   |
| Effective                    income tax rate                         |   |                                       | 18.6   | % |

|   |   |   |   | Significant                components of the Company's deferred tax assets are as                follows: |
|--------|--------|--------|--------|-----------------------------------------------------------------------------------------------------------|

|                                                                                 |   | December                    31,      |         |  December                    31,                                                                |   |
|--------------------------------------------------------------------------------------|--------|--------------------------------------|--------------|------------------------------------------------------------------------------------------------------|--------|
|                                                                            |   | 2007                       |         |        2006          |   |
|                                                                                 |   |                                 |         |                                                                                                 |   |
| Expenses                    deferred for income                                      |   |                                 |         |                                                                                                 |   |
| Tax                    purposes                                                      |   | $                                    | 84,400       |                                                                                                 | $      | 137 |   |
| Interest                    income deferred for reporting                    purpose |   |                                 | 28,000       |                                                                                                 |   |   |   |
| Federal                    Net Operating Loss                                        |   |                                 |         |                                                                                                 |   |   |   |
| Carryforward                                                                         |   |                                 | 22,700       |                                                                                                 |   | - |   |
| Less:                    valuation allowance                                         |   |                                 | (107,100     | )                                                                                                    |   | (137 | ) |
| Total                                                                                |   | $                                    | 28,000  |                                                                                                 | $      | - |   |

|   |   |   |   | The                    Company has established a valuation allowance against substantially                    all of                    its deferred tax asset, which principally relates to Federal                    income tax                    temporary differences, since its income earned on the funds held                    in the                    Trust Account is not taxable for Federal income tax purposes                    and, at this                    time, it has no other operations that would generate income for                    Federal                    income tax purposes. During                  the year ended December 31, 2007, cash paid for income taxes                  were $320,000 which consisted of New York State and City Income                  Taxes. |
|--------|--------|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |

----

**Hyde          Park Acquisition Corp.**

**(a          corporation in the development stage)**

**Notes          to Financial Statements**

| **9.** |   | **Subsequent                  Event (unaudited)** |   | On                  March 6, 2008, the Company entered into a Purchase Agreement (the                  “Agreement”) with Essex Crane Rental Corp., a Delaware corporation                  (“Essex”), Essex Holdings LLC, a Delaware limited liability company                  (“Holdings”), the members of Holdings and KCP Services, LLC, pursuant to                  which the Company agreed to purchase all of the membership interests                  of                  Holdings other than membership interests to be retained by the                  members of                  Holdings for $210,000,000 minus the value of the membership interests                  to                  be retained by the members of Holdings, subject to adjustment.                  The value                  of the retained interests for purposes of the acquisition is $10,000,000.                  The membership interests retained by the members of Holdings may,                  at their                  option, be exchanged for an aggregate of 1,265,823 shares of the                  Company’s                  common stock at any time after completion of the acquisition. Essex                  is a                  wholly-owned subsidiary of Holdings. Essex                  owns the largest specialized fleet of lattice-boom crawler cranes                  and                  attachments in North America. Chicago-based Essex operates an                  industry-leading fleet of approximately 400 high-lift capacity                  crawler                  cranes which has been assembled throughout its 48 years of                  operation. The                  Company expects that the transaction will be consummated shortly                  after its                  special meeting of stockholders to approve the transaction. The                  date of                  the meeting is still to be determined but is expected to be held                  in the                  third quarter of 2008. However, if the Essex acquisition, or an                  alternative business combination, is not completed by March 5,                  2009, the                  Company will be forced to dissolve and liquidate. At                  December 31, 2007, $528,331 of costs related to the Essex acquisition                  have                  been deferred as capitalizable acquisition costs. |
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|   |   |                                              |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |

----

**SIGNATURES      **

|         |                                                                                 |                                |
|--------------|--------------------------------------------------------------------------------------|-------------------------------------|
|         | **HYDE                PARK ACQUISITION CORP.**                                       |
|    |                                                                            |                           |
|         | By:                                                                        | /s/                Laurence S. Levy |
|         | Laurence                S. Levy                                                      |
|         | Chief                Executive Officer(Principal                  Executive Officer) |
|         |                                                                                 |
| Date:        |  March                31, 2008                                                  |

| **Name**                            |   | **Title**                                                                                                    |   | **Date**                      |
|-------------------------------------|--------|--------------------------------------------------------------------------------------------------------------|--------|-------------------------------|
|                                |   |                                                                                                         |   |                          |
| /s/                Laurence S. Levy |   | Chairman                of the Board and Chief Executive Officer (Principal                Executive Officer |   | March                31, 2008 |
| Laurence                S. Levy     |   |                                                                                                    |   |                          |
|                                |   |                                                                                                         |   |                          |
|                                |   |                                                                                                         |   |                          |
| /s/ Edward                Levy |   | President                and Director                                                                        |   | March                31, 2008 |
| Edward                Levy          |   |                                                                                                    |   |                          |