----

|   | ý                                 QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |  ̈                                 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Nevada                                   | 88-0326480                           |
|------------------------------------------|--------------------------------------|
| (State of Incorporation)                 | (I.R.S. Employer Identification No.) |
|                                     |                                 |
| 601 Cien Street, Suite 235, Kemah, TX    | 77565-3077                           |
| (Address of Principal Executive Offices) | (ZIP Code)                           |

| Large accelerated filer  ̈      | Accelerated filer  ̈                |
|-------------------------------------|-----------------------------------------|
|   Non-accelerated filer  ̈ |   Smaller reporting company x |

----

TABLE OF CONTENTS

| Item     | Description                                                                           | Page   |
|----------|---------------------------------------------------------------------------------------|--------|
|     | PART I - FINANCIAL INFORMATION                                                        |   |
|     |                                                                                  |   |
| ITEM 1.  | FINANCIAL STATEMENTS                                                                  | 3      |
| ITEM 2.  | MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS | 21     |
| ITEM 3.  | QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISKS                            | 25     |
| ITEM 4.  | CONTROLS AND PROCEDURES                                                               | 25     |
|     |                                                                                  |   |
|     | PART II - OTHER INFORMATION                                                           |   |
|     |                                                                                  |   |
| ITEM 1.  | LEGAL PROCEEDINGS                                                                     | 25     |
| ITEM 1A. | RISK FACTORS                                                                          | 25     |
| ITEM 2.  | UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS                           | 25     |
| ITEM 3.  | DEFAULT UPON SENIOR SECURITIES                                                        | 25     |
| ITEM 4.  | SUBMISSION OF MATERS TO A VOTE OF SECURITY HOLDERS                                    | 26     |
| ITEM 5.  | OTHER INFORMATION                                                                     | 26     |
| ITEM 6.  | EXHIBITS                                                                              | 26     |

----

PART I - FINANCIAL INFORMATION

| Consolidated Financial Statements                                                                                      |   |
|------------------------------------------------------------------------------------------------------------------------|--------|
|    Unaudited Consolidated Balance Sheets - September 30, 2010 and December 31, 2009                          | 4      |
|    Unaudited Consolidated Statements of Operations - Three and Nine Months Ended September 30, 2010 and 2009 | 5      |
|    Unaudited Consolidated Statements of Cash Flows - Nine Months Ended September 30 2010 and 2009  | 6      |
| Notes to Unaudited Consolidated Financial Statements                                                                   | 8      |
|                                                                                                                   |   |

----

| AMERICAN INTERNATIONAL INDUSTRIES, INC. AND SUBSIDIARIES |
|----------------------------------------------------------|
| Consolidated Balance Sheets                              |

|                                                                                                         |   |
|--------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                         |   | September 30, 2010 |   |   | December 31, 2009 |   |
| Assets                                                                                                       |   |   |   |   |   |   |
| Current assets:                                                                                              |   |   |   |   |   |   |
|    Cash and cash equivalents                                                                       |   | $ | 1,865,439 |   |   | $ | 1,692,340 |   |
|    Certificates of deposit                                                                         |   |   | 1,093,430 |   |   |   | 1,199,187 |   |
|    Trading securities                                                                              |   |   | 1,410,254 |   |   |   | 1,490,472 |   |
|    Accounts receivable, less allowance for doubtful accounts                                       |   |   |   |   |   |   |   |   |
|      of $245,752 and $244,121, respectively                                              |   |   | 8,247,544 |   |   |   | 2,769,837 |   |
|    Current portion of notes receivable                                                             |   |   | 338,220 |   |   |   | 1,173,334 |   |
|    Accounts receivable from related parties                                                        |   |   | 10,494 |   |   |   | 194,609 |   |
|    Inventories                                                                                     |   |   | 5,374,082 |   |   |   | 4,159,734 |   |
|    Real estate held for sale                                                                       |   |   | 6,755,680 |   |   |   | 7,060,299 |   |
|    Deposits for pipe inventory purchases                                                 |   |   | - |   |   |   | 1,336,244 |   |
|    Prepaid expenses and other current assets                                                       |   |   | 311,885 |   |   |   | 230,748 |   |
|    Assets held for sale                                                                            |   |   | 1,233,207 |   |   |   |  836,389 |   |
|      Total current assets                                                                |   |   | 26,640,235 |   |   |   | 22,143,193 |   |
|                                                                                                    |   |   |   |   |   |   |   |   |
| Long-term notes receivable, less current portion                                                             |   |   | 385,338 |   |   |   | 259,252 |   |
| Real estate held for sale                                                                                    |   |   | 225,000 |   |   |   | - |   |
| Property and equipment, net of accumulated depreciation and amortization                                |   |   | 2,587,315 |   |   |   | 3,227,549 |   |
| Goodwill                                                                                                     |   |   | 674,539 |   |   |   | 674,539 |   |
| Marketable securities - available for sale                                                                   |   |   |  1,050,000 |   |   |   |  - |   |
| Other assets                                                                                                 |   |   | 107,099 |   |   |   | 106,403 |   |
| Assets held for sale                                                                                         |   |   | 4,244,374 |   |   |   | 4,601,233 |   |
|        Total assets                                                            |   | $ | 35,913,900 |   |   | $ | 31,012,169 |   |
| Liabilities and Equity                                                                                       |   |   |   |   |   |   |   |   |
| Current liabilities:                                                                                         |   |   |   |   |   |   |   |   |
|    Accounts payable and accrued expenses                                                           |   | $ | 6,729,924 |   |   | $ | 1,689,597 |   |
|    Short-term notes payable                                                                        |   |   | 1,097,815 |   |   |   | 1,381,908 |   |
|    Accounts and notes payable to related parties                                                   |   |   | 137,500 |   |   |   | 110,000 |   |
|    Current installments of long-term debt                                                          |   |   | 4,919,060 |   |   |   | 3,731,428 |   |
|    Liabilities associated with assets held for sale                                           |   |   | 2,983,308 |   |   |   | 2,088,809 |   |
|      Total current liabilities                                                           |   |   | 15,867,607 |   |   |   | 9,001,742 |   |
|                                                                                                         |   |   |   |   |   |   |   |   |
| Long-term debt, less current installments                                                                    |   |   | 866,743 |   |   |   | 2,696,247 |   |
| Liabilities associated with assets held for sale                                                             |   |   | 4,495,259 |   |   |   | 4,653,319 |   |
|      Total liabilities                                                                   |   |   | 21,229,609 |   |   |   | 16,351,308 |   |
|                                                                                                         |   |   |   |   |   |   |   |   |
| Commitments and contingencies                                                                           |   |   | - |   |   |   |  - |   |
|                                                                                                         |   |   |   |   |   |   |   |   |
| Equity:                                                                                                      |   |   |   |   |   |   |   |   |
|    Preferred stock, $0.001 par value, 1,000,000 authorized; none issued                            |   |   | - |   |   |   |  - |   |
|    Common stock, $0.001 par value, 50,000,000 authorized;                                          |   |   |   |   |   |   |   |   |
|        10,449,325 and 9,191,325 shares issued, respectively               |   |   |   |   |   |   |   |   |
|        10,124,069 and 8,871,369 shares outstanding, respectively     |   |   | 10,450 |   |   |   | 9,192 |   |
|    Additional paid-in capital                                                                      |   |   | 33,936,466 |   |   |   | 33,571,064 |   |
|    Accumulated deficit                                                                             |   |   | (19,625,086 | )  |   |   | (19,863,846 | )  |
|    Accumulated other comprehensive loss                                                            |   |   |  (320,000 | )  |   |   |  - |   |
|    Less treasury stock, at cost                                                               |   |   |   |   |   |   |   |   |
|        325,256 and 319,956 shares, respectively                           |   |   | (510,948 | )  |   |   | (505,774 | )  |
|    Total American International Industries, Inc. equity                                       |   |   | 13,490,882 |   |   |   | 13,210,636 |   |
|        Noncontrolling interest                                                 |   |   | 1,193,409 |   |   |   | 1,450,225 |   |
|    Total equity                                                                               |   |   | 14,684,291 |   |   |   | 14,660,861 |   |
|    Total liabilities and equity                                                               |   |  $ | 35,913,900 |   |   | $ | 31,012,169 |   |
|  The accompanying notes are an integral part of these unaudited consolidated financial statements. |

----

| AMERICAN INTERNATIONAL INDUSTRIES, INC. AND SUBSIDIARIES |
|----------------------------------------------------------|
| Consolidated Statements of Operations                    |
| (Unaudited)                                              |

|                                                                                                        |   |
|-------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                        |   | Three Months Ended |   |   | Nine Months Ended |   |
|                                                                                                   |   | September 30, 2010 |   |   | September 30, 2009 |   |   | September 30, 2010 |   |   | September 30, 2009 |   |
|                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Revenues                                                                                                    |   | $ | 9,761,625 |   |   | $ | 6,274,509 |   |   | $ | 18,609,283 |   |   | $ | 14,707,321 |   |
| Costs and expenses:                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    Cost of sales                                                                                  |   |   | 7,097,590 |   |   |   | 4,147,587 |   |   |   | 12,768,321 |   |   |   | 8,937,055 |   |
|    Selling, general and administrative                                                            |   |   | 2,295,043 |   |   |   | 2,967,961 |   |   |   | 7,570,034 |   |   |   | 7,762,678 |   |
|      Total operating expenses                                                      |   |   | 9,392,633 |   |   |   | 7,115,548 |   |   |   | 20,338,355 |   |   |   | 16,699,733 |   |
|                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating income (loss)                                                                                     |   |   | 368,992 |   |   |   | (841,039 | )  |   |   | (1,729,072 | )  |   |   | (1,992,412 | ) |
|                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other income (expenses):                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    Interest and dividend income                                                                   |   |   | 23,824 |   |   |   | 82,904 |   |   |   | 61,595 |   |   |   | 325,479 |   |
|    Gain (loss) on sale of assets                                                                  |   |   | (20,662 | )  |   |   | - |   |   |   | 760,542 |   |   |   |  - |   |
|    Delta lawsuit settlement                                                                       |   |   | - |   |   |   | - |   |   |   | 700,000 |   |   |   | - |   |
|    Consulting service income                                                                      |   |   | - |   |   |   |  - |   |   |   | 1,370,000 |   |   |   | - |   |
|    Realized gains (losses) on the sale of trading securities                                      |   |   | (414,607 | )  |   |   | 191,740 |   |   |   | (96,293 | )  |   |   | (157,491 | )  |
|    Unrealized gains on trading securities                                                         |   |   | 360,937 |   |   |   | 8,642 |   |   |   |  158,881 |   |   |   | 407,516 |   |
|    Interest expense                                                                               |   |   | (113,764 | )  |   |   | (123,472 | ) |   |   |  (342,721 | )  |   |   | (386,274 | ) |
|    Other income                                                                                   |   |   | 4,168 |   |   |   | 7,187 |   |   |   | 100,166 |   |   |   | 205,534 |   |
|      Total other income (expense)                                                       |   |   | (160,104 | )  |   |   | 167,001 |   |   |   | 2,712,170 |   |   |   | 394,764 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|      Income (loss) before income tax                                                    |   |   | 208,888 |   |   |   | (674,038 | )  |   |   | 983,098 |   |   |   | (1,597,648 | ) |
|         Income tax expense                                               |   |   | 1,124 |   |   |   | 8,857 |   |   |   | 51,354 |   |   |   | 26,008 |   |
|      Income (loss) from continuing operations, net of income taxes                      |   |   | 207,764 |   |   |   | (682,895 | )  |   |   | 931,744 |   |   |   | (1,623,656 | )  |
|      Loss from discontinued operations - assets held for sale, net of income taxes |   |   | (375,058 | )  |   |   | (243,407 | )  |   |   | (1,103,630 | )  |   |   | (290,687 | )  |
|      Loss from discontinued operations - assets sold, net of income taxes               |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (350,000 | )  |
|      Net loss                                                                           |   |   | (167,294 | )  |   |   | (926,302 | )  |   |   | (171,886 | )  |   |   | (2,264,343 | ) |
|      Net loss (income) attributable to the noncontrolling interest                      |   |   | (2,555 | )  |   |   | 14,660 |   |   |   |  410,646 |   |   |   | 307,314 |   |
|      Net income (loss) attributable to American International Industries, Inc.     |   | $ | (169,849 | )  |   | $ |  (911,642 | )  |   | $ | 238,760 |   |   | $ | (1,957,029 | )  |
| Net income (loss) per common share - basic and diluted:                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|      Continuing operations                                                              |   | $  | 0.02 |   |   | $ | (0.07 | ) |   | $ | 0.13 |   |   | $  | (0.16 | )  |
|      Discontinued operations - assets held for sale                                     |   |   | (0.04 | )  |   |   | (0.03 | )  |   |   | (0.11 | )  |   |   | (0.03 | )  |
|      Discontinued operations - assets sold                                              |   |   | (0.00 | )  |   |   | (0.00 | )  |   |   | (0.00 | )  |   |   | (0.04 | )  |
|      Total                                                                              |   | $  | (0.02 | )  |   | $  | (0.10 | )  |   | $ | 0.02 |   |   | $ | (0.23 | ) |
|                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average common shares - basic and diluted                                                          |   |   | 10,080,504 |   |   |   | 8,763,043 |   |   |   | 9,780,898 |   |   |   | 8,661,263 |   |
|                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Comprehensive loss                                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|      Net loss                                                                           |   | $  | (167,294 | )  |   | $  |  (926,302 | ) |   | $ | (171,886 | )  |   | $  |  (2,264,343 | )  |
|      Unrealized loss on marketable securities                                           |   |   | (500,000 | )  |   |   | - |   |   |   | (320,000 | )  |   |   |  - |   |
| Total comprehensive loss                                                                                    |   |   | (667,294 | )  |   |   |  (926,302 | )  |   |   | (491,886 | )  |   |   |  (2,264,343 | )  |
|      Comprehensive loss (income) attributable to the noncontrolling interest       |   |   | (2,555 | )  |   |   | 14,660 |   |   |   | 410,646 |   |   |   | 307,314 |   |
| Comprehensive loss attributable to American International Industries, Inc.                                  |   | $ | (669,849 | )  |   | $ |  (911,642 | )  |   | $ | (81,240 | )  |   | $ |  (1,957,029 | )  |
|                                                                                                        |   |
| The accompanying notes are an integral part of these unaudited consolidated financial statements.           |

----

| AMERICAN INTERNATIONAL INDUSTRIES, INC. AND SUBSIDIARIES |
|----------------------------------------------------------|
| Consolidated Statements of Cash Flows                    |

|                                                                                                                                                    |
|---------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                    | Nine Months Ended September 30, |
|                                                                                                                                                    |   | 2010 |   |   | 2009 |   |
| Cash flows from operating activities:                                                                                                                   |   |   |   |   |   |   |   |   |
|    Net loss                                                                                                                                   |   | $ | (171,886 | ) |   | $ | (2,264,343 | ) |
|    Loss from discontinued operations - assets held for sale, net of income taxes                                                              |   |   | (1,103,630 | )  |   |   | (290,687 | )  |
|    Loss from discontinued operations - assets sold, net of income taxes                                                                       |   |   |  - |   |   |   |  (350,000 | ) |
|    Net income (loss) from continuing operations                                                                                               |   |   | 931,744 |   |   |   |  (1,623,656 | )  |
|    Adjustments to reconcile net income (loss) from continuing operations to net cash used in operating activities from continuing operations: |   |   |   |   |   |   |   |   |
|        Depreciation and amortization                                                                                      |   |   | 349,273 |   |   |   | 396,343 |   |
|        Share-based compensation                                                                                           |   |   | 1,174,803 |   |   |   | 436,430 |   |
|        Shares received for consulting services                                                                            |   |   | (1,370,000 | )  |   |   | -  |   |
|        Gain on sale of assets                                                                                        |   |   |  (760,542 | )  |   |   | -  |   |
|        Realized (gains) losses on the sale of trading securities                                                          |   |   | (158,881 | ) |   |   | 157,491 |   |
|        Unrealized (gains) losses on trading securities                                                                    |   |   | 96,293 |   |   |   | (407,516 | )  |
|        Change in operating assets and liabilities:                                                                   |   |   |   |   |   |   |   |   |
|           Accounts receivable                                                                              |   |   | (5,484,690 | )  |   |   | (1,901,307 | )  |
|           Trading securities                                                                               |   |   | 142,806 |   |   |   | 300,840 |   |
|           Inventories                                                                                      |   |   | 121,896 |   |   |   | (25,021 | ) |
|           Prepaid expenses and other current assets                                                        |   |   | (81,137 | )  |   |   | (69,923 | )  |
|           Other assets                                                                                     |   |   | (696 | )  |   |   | 36,000 |   |
|           Accounts payable and accrued expenses                                                            |   |   | 4,220,883 |   |   |   | 1,558,175 |   |
|              Net cash used in operating activities from continuing operations               |   |   | (818,248 | )  |   |   | (1,142,144 | )  |
|                                                                                                                                                    |   |   |   |   |   |   |   |   |
| Cash flows from investing activities from continuing operations:                                                                                        |   |   |   |   |   |   |   |   |
|    Proceeds from sale of equity investment                                                                                               |   |   | 20,000 |   |   |   |  - |   |
|    Proceeds from sale of real estate held for sale                                                                                       |   |   |  943,500 |   |   |   |  - |   |
|    Proceeds from sale of property and equipment                                                                                               |   |   |  340,445 |   |   |   |  - |   |
|    Purchase of property and equipment                                                                                                         |   |   | (131,777 | ) |   |   | (155,873 | ) |
|    Purchase of real estate held for resale                                                                                               |   |   | (29,557 | )  |   |   |  - |   |
|    Redemption of certificate of deposit                                                                                                       |   |   | 625,000 |   |   |   | 4,000,000 |   |
|    Investment in certificate of deposit                                                                                                       |   |   | (519,243 | ) |   |   | (2,450,000 | ) |
|    Purchase of note receivable from bank                                                                                                 |   |   | - |   |   |   | (300,000 | ) |
|    Proceeds from notes receivable                                                                                                             |   |   | 26,963 |   |   |   | 116,446 |   |
|    Loans from related parties                                                                                                                 |   |   | 17,006 |   |   |   | 168,606 |   |
|             Net cash provided by investing activities from continuing operations                 |   |   | 1,292,337 |   |   |   | 1,379,179 |   |
|                                                                                                                                               |   |   |   |   |   |   |   |   |
| Cash flows from financing activities from continuing operations:                                                                                        |   |   |   |   |   |   |   |   |
|    Proceeds from issuance of common stock                                                                                                     |   |   | 1,015,200 |   |   |   | - |   |
|    Proceeds from issuance of common stock of subsidiary                                                                                       |   |   | 22,100 |   |   |   | - |   |
|    Net borrowings under lines of credit agreements and short-term notes                                                                  |   |   | 541,620 |   |   |   | 836,800 |   |
|    Proceeds from issuance of debt                                                                                                             |   |   |  250,753 |   |   |   | 283,851 |   |
|    Principal payments on debt                                                                                                            |   |   | (1,718,337 | ) |   |   | (1,769,763 | ) |
|    Payments for acquisition of treasury stock                                                                                                 |   |   | (5,174 | ) |   |   | (225,332 | )  |
|             Net cash provided by (used in) financing activities from continuing operations  |   |   | 106,162 |   |   |   | (874,444 | )  |
|                                                                                                                                                    |   |   |   |   |   |   |   |   |

| Net increase (decrease) in cash and cash equivalents from continuing operations |   |   | 580,251 |   |   |   | (637,409 | )  |
|--------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|----------|---------|
|                                                                                 |   |   |    |   |   |   |     |    |

----

|   |
|--------|
|   | Nine Months Ended September 30, |
|   |   | 2010 |   |   | 2009 |   |

| Discontinued operations:                                                                                     |   |    |           |    |   |    |             |    |
|--------------------------------------------------------------------------------------------------------------|--------|---------|----------------|---------|--------|---------|------------------|---------|
|    Net cash used in operations                                                                     |   | $       | (377,947       | )  |   | $  | (28,219          | )       |
|    Net cash provided by (used in) investing activities                                             |   |    | (10,386        | )  |   |    | 67,453           |    |
|    Net cash used in financing activities                                                           |   |    | (18,819        | )  |   |    | (464,234         | )  |
| Net increase (decrease) in cash and cash equivalents                                                         |   |    | 173,099        |    |   |    |  (1,062,409 | )  |
| Cash and cash equivalents at beginning of period                                                             |   |    | 1,692,340      |    |   |    | 2,971,143        |    |
| Cash and cash equivalents at end of period                                                                   |   | $       | 1,865,439      |    |   | $  | 1,908,734        |    |
|                                                                                                         |   |    |           |    |   |    |             |    |
| Supplemental schedule of cash flow information:                                                              |   |    |           |    |   |    |             |    |
|    Interest paid                                                                              |   | $  | 628,262        |    |   | $       | 706,212          |    |
|    Taxes paid                                                                                      |   | $  | 47,478         |    |   |  $ |  -          |    |
|                                                                                                         |   |    |           |    |   |    |             |    |
| Non-cash transactions:                                                                                       |   |    |           |    |   |    |             |    |
|    Note receivable issued for common stock of DCP                                             |   | $  | 55,000         |    |   | $       |  -          |    |
|    Unrealized loss on available for sale securities                                           |   | $  | 320,000        |    |   | $       |  -          |    |
|    Acquisition of fixed assets under capital lease obligations                                     |   | $       | 144,000        |    |   | $       |  -          |    |
|    Real property received in foreclosure on note receivable                                        |   | $  | 66,304         |    |   | $       | 198,500          |    |
|    Trading securities received in foreclosure on note receivable                                   |   | $  |  -        |    |   |  $ |  40,000     |    |
|    Receipt of common stock to convert promissory note due from Delta                          |   | $       |   872,352 |    |   |  $ |   -         |    |
|    Accounts payable and dividends payable assumed in Delta reverse merger transaction              |   | $       | 597,131        |    |   | $       |  -          |    |
|    Adjustment to noncontrolling interest in Delta, DCP, and BOG                                    |   | $       | 295,279        |    |   | $       |  -          |    |
|    Delta dividends declared and unpaid                                                        |   | $       | 180,000        |    |   | $       |   -         |    |
|  The accompanying notes are an integral part of these unaudited consolidated financial statements. |

----

----

----

|                                              |   | As of September 30, 2010 |            |
|---------------------------------------------------|--------|-------------------------------|-----------------|
|                                              |   |                          |            |   |   |   |   |  Fair Value Measurements Using: |   |
|                                              |   | CarryingAmount                |            |   | TotalFair Value |   |   | Quoted Pricesin Active Markets(Level 1) |   |   | Significant OtherObservable Inputs(Level 2) |   |   | SignificantUnobservable Inputs(Level 3) |   |
| Financial Assets:                                 |   |                          |            |   |   |   |   |   |   |   |   |   |   |   |   |
|   Trading Securities                    |   | $                             | 1,410,254       |   |   | $ | 1,410,254 |   |   | $ | 1,410,254 |   |   | $ | - |   |   | $ | - |   |
|   Marketable Securities - available for sale |   | $                             |  1,050,000 |   |   | $ | 1,050,000 |   |   | $ | 1,050,000 |   |   | $  |  - |   |   | $  |  - |   |

----

|           |   | September 30, 2010 |      |   | December 31, 2009 |   |
|----------------|--------|--------------------|-----------|--------|-------------------|--------|
| Finished goods |   | $                  | 5,417,297 |   |              | $      | 4,255,755 |   |
| Less reserve   |   |               | (43,215   | )      |              |   | (96,021 | ) |
|           |   | $                  | 5,374,082 |   |              | $      | 4,159,734 |   |

        -  Management with the appropriate authority commits to a plan to sell the asset; 
        -  The asset is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets; 
        -  An active program to locate a buyer and other actions required to complete the plan of sale have been initiated; 
        -  The sale of the property or asset within one year is probable and will qualify for accounting purposes as a sale; 
        -  The asset is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and 
        -  Actions required to complete the plan of sale indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. 

----

|                                                                                                                                                                                  |   | September 30, 2010 |         |    | December 31, 2009 |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|--------------|---------|-------------------|--------|
| Unsecured note receivable for sale of former subsidiary, Marald, Inc., principal and interest due monthly through June 5, 2012                                                        |   | $                  | 68,558       |    |              | $      | 95,523 |   |
| Unsecured note receivable for sale of former subsidiary, Marald, Inc., due in monthly payments of $3,074, including interest at 4%, beginning April 1, 2011 through March 1, 2021 (a) |   |               | 300,000      |    |              |   | 200,000 |   |
| Unsecured note receivable, principal balance due on April 30, 2008, interest at 6% through maturity and at 10% thereafter (b)                                                         |   |               | -            |    |              |   | 552,063 |   |
| Unsecured note receivable, principal balance due on December 31, 2008, interest at 10% through maturity and at 15% thereafter (b)                                                     |   |               | -            |    |              |   | 250,000 |   |
| Note secured by property and shares of stock, interest due monthly at 18%, principal payment due on or before May 9, 2009                                                             |   |               | -            |    |              |   | 35,000 |   |
| Unsecured note receivable purchased from Texas Community Bank, interest at 8% due monthly, principal due January 2009 (c)                                                             |   |               | 300,000      |    |              |   | 300,000 |   |
| Note secured by shares of DCP stock, interest due quarterly at 5%, principal payment due on or before June 23, 2012                                                                   |   |               |  55,000 |    |              |   |  - |   |
| Notes receivable                                                                                                                                                                      |   |               | 723,558      |    |              |   | 1,432,586 |   |
| Less current portion                                                                                                                                                                  |   |               | (338,220     | )  |              |   | (1,173,334 | )  |
| Long-term notes receivable                                                                                                                                                            |   | $                  | 385,338      |    |              | $      | 259,252 |   |

|                                           | Years  |   | September 30, 2010 |       |    | December 31, 2009 |   |
|------------------------------------------------|--------|--------|--------------------|------------|---------|-------------------|--------|
| Land                                           |   |   | $                  | 507,661    |    |              | $      | 892,945 |   |
| Building and improvements                      | 20     |   |               | 962,010    |    |              |   | 1,003,870 |   |
| Machinery and equipment                        | 7-15   |   |               | 3,412,573  |    |              |   | 3,284,891 |   |
| Office equipment and furniture                 | 7      |   |               | 283,546    |    |              |   | 279,450 |   |
| Automobiles                                    | 5      |   |               | 745,712    |    |              |   | 745,712 |   |
|                                           |   |   |               | 5,911,502  |    |              |   | 6,206,868 |   |
| Less accumulated depreciation and amortization |   |   |               | (3,324,187 | )  |              |   | (2,979,319 | )  |
| Net property and equipment                     |   |   | $                  | 2,587,315  |    |              | $      | 3,227,549 |   |

----

|                                                                                                                                  |   | September 30, 2010 |      |   | December 31, 2009 |   |
|---------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|-----------|--------|-------------------|--------|
| Insurance note payable with interest at 4.99% principal and interest due in monthly payments of $22,796 through May 1, 2011      |   | $                  | 159,570   |   |              | $      | 103,218 |   |
| Note payable with interest at 12%, interest due monthly, with a principal balance due on August 1, 2010, secured by real property (a) |   |               | 938,245   |   |              |   | 1,278,690 |   |
|                                                                                                                                  |   | $                  | 1,097,815 |   |              | $      | 1,381,908 |   |

----

|                                                                                                                                                                                                                                                   |   | September 30, 2010 |       |    | December 31, 2009 |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|------------|---------|-------------------|--------|
| Revolving line of credit to a bank, which allows Delta to borrow up to $2,000,000, due in monthly payments of interest only, with interest at prime floating rate, with the principal balance due in April 2011, secured by assets of Delta. | $      |               | 1,433,527  |    |              | $      | 1,369,907 |   |
| Note payable to a bank, due in monthly installments of interest only, principal balance due June 13, 2010 with interest at 1% above the prime rate secured by real property.                                                                 |   |               | -          |    |              |   | 943,500 |   |
| Note payable to a bank, due in monthly installments of $6,170, including interest at 6.6% through May 2018, secured by real property.                                                                                                                  |   |               | 440,722    |    |              |   | 473,285 |   |
| Note payable to a bank, which allows NPI to borrow up to $3,250,000, interest due monthly at 6.5%, principal balance due December 31, 2010, secured by assets of NPI. (a)                                                                    |   |               | 1,577,000  |    |              |   |  1,099,000 |   |
| Note payable to a bank, due in quarterly payments of interest only, with interest at 6%, with a principal balance due on May 2011, secured by real property.                                                                                 |   |               | 1,566,000  |    |              |   | 1,566,000 |   |
| Note payable due in monthly payments of $19,373, including interest at 6%, through March 2013, secured by assets of Delta.                                                                                                                             |   |               | 619,961    |    |              |   | 761,982 |   |
| Note payable to a bank, due in monthly payments of $6,120, including interest at 8.25%, through August 9, 2012, secured by assets of Delta.                                                                                                  |   |               | 124,323    |    |              |   |  174,990 |   |
| Other secured notes with various terms                                                                                                                                                                                                                 |   |               | 24,270     |    |              |   | 39,011 |   |
|                                                                                                                                                                                                                                                   |   |               | 5,785,803  |    |              |   | 6,427,675 |   |
| Less current portion                                                                                                                                                                                                                                   |   |               | (4,919,060 | )  |              |   | (3,731,428 | )  |
|                                                                                                                                                                                                                                                   |   | $                  | 866,743    |    |              | $      | 2,696,247 |   |

| 2010       |   | $      | 1,670,760 |   |
|------------|--------|--------|-----------|--------|
| 2011       |   |   | 3,333,966 |   |
| 2012       |   |   | 316,896   |   |
| 2013       |   |   | 185,901   |   |
| 2014       |   |   | 57,385    |   |
| Thereafter |   |   | 220,895   |   |
| Total      |   | $      | 5,785,803 |   |

----

|                |   | March 30, 2008 |        |
|---------------------|--------|----------------|-------------|
| Dividend yield      |   |           | 0.00        | %  |
| Expected volatility |   |           |  38.64 | %  |
| Risk free interest  |   |           |  2.5   | % |
| Expected lives      |   | 2 years        |        |

|                                                 |   | Shares |           |    | Weighted Average Exercise Price |   |
|------------------------------------------------------|--------|--------|----------------|---------|---------------------------------|--------|
| Outstanding and exercisable as of December 31, 2009  |   |   | 207,360        |    |                            | $      | 4.86 |   |
| Granted                                              |   |   | -              |    |                            |   | N/A |   |
| Exercised                                            |   |   |  -        |    |                            |   |  N/A |   |
| Canceled / Expired                                   |   |   |  (207,360 | )  |                            |   | 4.86 |   |
| Outstanding and exercisable as of September 30, 2010 |   |   | -              |    |                            | $      | N/A |   |

|                                       |   | Nine Months Ended September 30, |      |
|--------------------------------------------|--------|--------------------------------------|-----------|
|                                       |   | 2010                                 |      |   | 2009 |   |
| Common shares issued for services          |   | $                                    | 1,174,803 |   |   | $ | 436,430 |   |
| Stock options issued for services          |   |                                 | -         |   |   |   | - |   |
|    Stock-based compensation |   | $                               | 1,174,803 |   |   | $ | 436,430 |   |

----

| Operating Losses |
|------------------|
| Amount           |   | Expires |
| $                | 1,761,086 |   | 2018 |
|             | 1,462,959 |   | 2019 |
|             | 2,086,064 |   | 2020 |
|             | 860,006 |   |  2022  |
|             | 566,409 |   |  2023  |
|             |  1,028,302 |   |  2024  |
|             | 1,551,019 |   | 2025 |
|             |  73,187 |   |  2026  |
|             | 288,855 |   | 2027 |
|             | 3,626,977 |   |  2028  |
|             | 3,981,570 |   | 2029  |
| $                | 17,286,434 |   |   |

----

|   |  · Northeastern Plastics (NPI) - a wholly-owned subsidiary, is a supplier of automotive after-market products and consumer durable goods products to retailers and wholesalers in the automotive after-market and in the consumer durable electrical products markets;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |  · Delta Seaboard International (Delta) - a 48.1% owned subsidiary, is an onshore rig-based well-servicing contracting company providing services to the oil and gas industry;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|   |  · Downhole Completion Products, Inc. (DCP) - an 80% owned subsidiary, provides major international oil and gas service company end-users with the highest quality proprietary downhole/completion threaded products under any condition.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|   |  · Corporate overhead - American's investment holdings including financing current operations and expansion of its current holdings as well as evaluating the feasibility of entering into additional businesses.  Corporate overhead also includes Brenham Oil & Gas, a division that owns an oil, gas and mineral royalty interest in Washington County, Texas, which is carried on American's balance sheet at $0. Through Brenham Oil & Gas, American is engaged in negotiations with financial institutions for the purpose of financing potential acquisitions of existing oil and gas properties and reserves. The Company is seeking to acquire a portfolio of oil and gas assets in North America and West Africa and large oil concessions in West Africa. American owns 54,680,074 shares of common stock, representing 54.7% of BOG’s total outstanding shares. |

----

|                                                           |   | Three months ended September 30, |      |    | Nine months ended September 30, |   |
|----------------------------------------------------------------|--------|---------------------------------------|-----------|---------|--------------------------------------|--------|
|                                                           |   | 2010                                  |      |    | 2009                                 |   |   | 2010 |   |   | 2009 |   |
| Revenues:                                                      |   |                                  |      |    |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Northeastern Plastics                                          |   | $                                     | 7,032,494 |    |                                 | $      | 4,123,329 |   |   | $ | 11,234,563 |   |   | $ | 7,761,016 |   |
| Delta Seaboard                                                 |   |                                  | 2,424,500 |    |                                 |   | 2,151,180 |   |   |   | 6,708,240 |   |   |   | 6,946,305 |   |
| Downhole Completion Products                                   |   |                                  | 303,379   |    |                                 |   | - |   |   |   | 665,228 |   |   |   | - |   |
| Brenham Oil & Gas                                          |   |                                  | 1,252     |    |                                 |   | - |   |   |   | 1,252 |   |   |   | - |   |
|    Total revenues                                    |   | $                                     | 9,761,625 |    |                                 | $      | 6,274,509 |   |   | $ | 18,609,283 |   |   | $ | 14,707,321 |   |
|                                                           |   |                                  |      |    |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Operating income (loss) from continuing operations:            |   |                                  |      |    |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Northeastern Plastics                                          |   | $                                     | 685,634   |    |                                 | $      | 194,632 |   | $ | 794,542 |   |   | $ | 131,204 |   |
| Delta Seaboard                                                 |   |                                  | 96,872    |    |                                 |   | 40,994 |   |   | (1,328,312 | )  |   |   |  (333,299 | )  |
| Downhole Completion Products                                   |   |                                  | 23,037    |    |                                 |   | - |   |   | 23,968 |   |   |   | - |   |
| Corporate                                                      |   |                                  | (436,551  | )       |                                 |   | (1,076,665 | )  |   | (1,219,270 | )  |   |   |  (1,790,317 | )  |
| Operating profit (loss) from continuing operations        |   |                                  | 368,992   |    | (841,039                             | )      | (1,729,072 | ) | (1,992,412 | )  |
| Other income (expenses) from continuing operations             |   |                                  | (160,104  | )  |                                 |   | 167,001 |   |   | 2,712,170 |   |   |   | 394,764 |   |
| Net income (loss) from continuing operations before income tax |   | $                                     | 208,888   |    |                                 | $      | (674,038 | ) | $ | 983,098 |   |   | $ | (1,597,648 | )  |
|                                                           |   |                                  |      |    |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation and amortization:                                 |   |                                  |      |    |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Northeastern Plastics                                          |   | $                                     | 14,859    |    |                                 | $      | 15,755 |   |   | $ | 44,550 |   |   | $ | 47,065 |   |
| Delta Seaboard                                                 |   |                                  | 97,014    |    |                                 |   | 113,250 |   |   |   | 297,325 |   |   |   | 342,456 |   |
| Corporate                                                      |   |                                  | 1,951     |    |                                 |   | 2,221 |   |   |   | 7,398 |   |   |   | 6,822 |   |
| Total depreciation and amortization                            |   | $                                     | 113,824   |    |                                 | $      | 131,226 |   |   | $ | 349,273 |   |   | $ | 396,343 |   |
|                                                           |   |                                  |      |    |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Interest expense:                                              |   |                                  |      |    |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Northeastern Plastics                                          |   | $                                     | 31,440    |    |                                 | $      | 18,094 |   |   | $ | 82,343 |   |   | $ | 52,596 |   |
| Delta Seaboard                                                 |   |                                  | 31,726    |    |                                 |   | 63,317 |   |   |   | 116,991 |   |   |   | 177,920 |   |
| Corporate                                                      |   |                                  | 50,598    |    |                                 |   | 42,061 |   |   |   | 143,387 |   |   |   | 155,758 |   |
| Total interest expense                                         |   | $                                     | 113,764   |    |                                 | $      | 123,472 |   |   | $ | 342,721 |   |   | $ | 386,274 |   |
|                                                           |   |                                  |      |    |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Capital expenditures:                                     |   |                                  |      |    |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Northeastern Plastics                                          |   | $                                     | 433       |    |                                 | $      | - |   |   | $ | 1,559 |   |   | $ | 1,209 |   |
| Delta Seaboard                                                 |   |                                  | 37,036    |    |                                 |   | 24,403 |   |   |   | 130,218 |   |   |   | 117,844 |   |
| Downhole Completion Products                                   |   |                                  | (1,149    | )  |                                 |   |  - |   |   |   | - |   |   |   |  - |   |
| Corporate                                                      |   |                                  | -         |    |                                 |   | (723 | )  |   |   | - |   |   |   | 36,820 |   |
| Total capital expenditures                                     |   | $                                     | 36,320    |    |                                 | $      | 23,680 |   |   | $ | 131,777 |   |   | $ | 155,873 |   |

|                                                                                            |   |   |   |   | Nine months ended September 30, |   |
|-------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------------------------------------|--------|
|                                                                                            |   |   |   |   |                                 |   |   | 2010 |   |   | 2009 |   |
| Non-cash transactions:                                                                     |   |   |   |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
| Delta                                                                                           |   |   |   |   |                                 |   |   |   |   |   |   |   |   |   |  - |   |
|    Accounts payable and dividends payable assumed in Delta reverse merger transaction |   |   |   |   |                                 |   |   |   |   | $ | 597,131 |   |   | $ |  - |   |
|    Delta dividends declared and unpaid                                                |   |   |   |   |                                 |   |   |   |   | $  | 180,000 |   |   | $ |  - |   |
| Corporate                                                                                       |   |   |   |   |                                 |   |   |   |   |   |   |   |   |   |   |   |
|    Unrealized loss on available for sale securities                              |   |   |   |   |                                 |   |   |   |   | $ | 320,000 |   |   | $ | - |   |
|    Note receivable issued for common stock of DCP                                |   |   |   |   |                                 |   |   |   |   | $ |  55,000 |   |   | $  |  - |   |
|    Real property received in foreclosure on note receivable                           |   |   |   |   |                                 |   |   |   |   | $  | 66,304 |   |   | $  | - |   |
|    Receipt of common stock to convert promissory note due from Delta                  |   |   |   |   |                                 |   |   |   |   | $  | 872,352 |   |   | $  | - |   |
|   Adjustment to noncontrolling interest in Delta, DCP, and BOG                        |   |   |   |   |                                 |   |   |   |   | $  | 295,279 |   |   | $  |  - |   |

|                                   |   | September 30, 2010 |       |   | December 31, 2009 |   |
|----------------------------------------|--------|--------------------|------------|--------|-------------------|--------|
| Identifiable assets:                   |   |               |       |   |              |   |
| Northeastern Plastics                  |   | $                  | 11,141,227 |   |              | $      | 6,013,175 |   |
| Delta                                  |   |               | 6,038,143  |   |              |   | 6,123,301 |   |
| Downhole Completion Products           |   |               | 314,230    |   |              |   | - |   |
| Corporate                              |   |               | 12,942,719 |   |              |   | 13,438,071 |   |
| Assets held for sale                   |   |               | 5,477,581  |   |              |   | 5,437,622 |   |
|    Total identifiable assets |   | $                  | 35,913,900 |   |              | $      | 31,012,169 |   |

----

|                                                                                    |   |
|-----------------------------------------------------------------------------------------|--------|
|                                                                                    |   | September 30, 2010 |   |   | December 31, 2009 |   |
| Assets held for sale                                                                    |   |   |   |   |   |   |
| Current assets held for sale:                                                           |   |   |   |   |   |   |
|    Cash and cash equivalents                                                  |   | $ | 2,867 |   |   | $ | 35,048 |   |
|    Accounts receivable                                                        |   |   | 639,625 |   |   |   | 303,696 |   |
|    Accounts receivable from related parties                                   |   |   | - |   |   |   | 194,609 |   |
|    Inventories                                                                |   |   | 584,599 |   |   |   | 286,481 |   |
|    Prepaid expenses and other current assets                                  |   |   | 6,116 |   |   |   | 16,555 |   |
|      Total current assets held for sale                             |   |   | 1,233,207 |   |   |   | 836,389 |   |
|                                                                               |   |   |   |   |   |   |   |   |
| Property and equipment, net of accumulated depreciation and amortization           |   |   | 3,644,988 |   |   |   | 3,916,670 |   |
| Intangible assets, net of amortization                                                  |   |   | 531,716 |   |   |   | 611,474 |   |
| Other assets                                                                            |   |   | 67,670 |   |   |   | 73,089 |   |
|        Total assets held for sale                         |   | $ | 5,477,581 |   |   | $ | 5,437,622 |   |
|                                                                                    |   |   |   |   |   |   |   |   |
| Liabilities associated with assets held for sale                                        |   |   |   |   |   |   |   |   |
| Current liabilities associated with assets held for sale:                               |   |   |   |   |   |   |   |   |
|    Accounts payable and accrued expenses                                      |   | $ | 1,407,968 |   |   | $ | 610,410 |   |
|    Short-term notes payable                                                   |   |   | 500,000 |   |   |   | 500,000 |   |
|    Accounts and notes payable to related parties                              |   |   | - |   |   |   | 186,300 |   |
|    Current installments of long-term debt                                     |   |   | 945,942 |   |   |   | 710,280 |   |
|    Current installments of long-term capital lease obligations           |   |   | 129,398 |   |   |   | 81,819 |   |
|      Total current liabilities associated with assets held for sale |   |   | 2,983,308 |   |   |   | 2,088,809 |   |
|                                                                                    |   |   |   |   |   |   |   |   |
| Long-term debt, less current installments                                               |   |   | 4,372,029 |   |   |   | 4,568,315 |   |
| Long-term capital lease obligations, less current installments                          |   |   | 123,230 |   |   |   | 85,004 |   |
|      Total liabilities associated with assets held for sale         |   | $ | 7,478,567 |   |   | $ | 6,742,128 |   |

|                       |   | Three Months Ended |      |    | Nine Months Ended  |   |
|----------------------------|--------|--------------------|-----------|---------|--------------------|--------|
|                  |   | September 30, 2010 |      |    | September 30, 2009 |   |   | September 30, 2010 |   |   | September 30, 2009 |   |
|                       |   |               |      |    |               |   |   |   |   |   |   |   |
|                  |   |               |      |    |               |   |   |   |   |   |   |   |   |   |   |   |
| Revenues                   |   | $                  | 1,485,119 |    |               | $      | 2,234,510 |   |   | $ | 4,058,527 |   |   | $ | 6,228,827 |   |
| Net loss before income tax |   | $                  | (372,011  | )  |               | $      | (238,880 | )  |   | $ | (1,095,381 | )  |   | $ | (278,082 | ) |

----

|   |  · Northeastern Plastics (NPI) - a wholly-owned subsidiary, is a supplier of automotive after-market products and consumer durable goods products to retailers and wholesalers in the automotive after-market and in the consumer durable electrical products markets;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |  · Delta Seaboard International (Delta) - a 48.1% owned subsidiary, is an onshore rig-based well-servicing contracting company providing services to the oil and gas industry;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|   |  · Downhole Completion Products, Inc. (DCP) - an 80% owned subsidiary, provides major international oil and gas service company end-users with the highest quality proprietary downhole/completion threaded products under any condition.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|   |  · Corporate overhead - American's investment holdings including financing current operations and expansion of its current holdings as well as evaluating the feasibility of entering into additional businesses.  Corporate overhead also includes Brenham Oil & Gas, a division that owns an oil, gas and mineral royalty interest in Washington County, Texas, which is carried on American's balance sheet at $0. Through Brenham Oil & Gas, American is engaged in negotiations with financial institutions for the purpose of financing potential acquisitions of existing oil and gas properties and reserves. The Company is seeking to acquire a portfolio of oil and gas assets in North America and West Africa and large oil concessions in West Africa. American owns 54,680,074 shares of common stock, representing 54.7% of BOG’s total outstanding shares. |

----

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKS

ITEM 4T. CONTROLS AND PROCEDURES

ITEM 1. LEGAL PROCEEDINGS

ITEM 1A. RISK FACTORS

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

----

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

ITEM 5. OTHER INFORMATION

ITEM 6. EXHIBITS

| Exhibit No. | Description                                                                                                                       |
|-------------|-----------------------------------------------------------------------------------------------------------------------------------|
| 31.1        | Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350 as adopted pursuant to the Sarbanes-Oxley Act of 2002 |
| 31.2        | Certification of Chief Financial Officer Pursuant to Section 906 of Sarbanes-Oxley Act of 2002                                    |
| 32.1        | Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350 as adopted pursuant to the Sarbanes-Oxley Act of 2002 |
| 32.2        | Certification of Chief Financial Officer Pursuant to Section 906 of Sarbanes-Oxley Act of 2002                                    |

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