UNITED
STATES


SECURITIES
AND EXCHANGE COMMISSION


Washington,
D.C. 20549





AMENDMENT
NO. 1


TO


FORM
10-K





x
            ANNUAL
      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934





For the
fiscal year ended: June 30, 2009





OR





o
            TRANSITION
      REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934





For the
transition period from __________ to ____________





Commission
File Number: 000-52496





CHINA
JIANYE FUEL, INC.


(Exact
name of registrant as specified in its charter)





Delaware
            20-8296010(State
      or other jurisdiction of
              incorporation
      or organization)
            (I.R.S.
      Employer Identification Number)100
      Wall Street, 15th Floor, New York, NY, 10005(Address
      of principal executive office and zip code)212-232-0120(Registrant’s
      telephone number, including area code)Securities
      registered pursuant to Section 12(b) of the Act: None.
              
              Securities
      registered pursuant to Section 12(g) of the Act: Common Stock, par value
      $0.001





Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in
Rule 405 of the Securities Act. Yes o      No x










Indicate
by check mark if the registrant is not required to file reports pursuant to
Section 13 or Section 15(d) of the Act. Yes o      No x





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





Indicate
by check mark whether the registrant has submitted electronically and posted on
its corporate Website, if any, every Interactive Data File required to be
submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding
12 months (or for such shorter period that the registrant was required to submit
and post such files).  Yes o      No o





Indicate
by check mark if disclosure of delinquent filers pursuant to Item 405 of
Regulation S-K is not contained herein, and will not be contained, to the
best of registrant’s knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. o





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





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





Indicate
by check mark whether the registrant is a shell company (as defined in
Rule 12b-2 of the Act).   Yes o     
No x





As of
December 31, 2008, the aggregate market value of the shares of the Registrant’s
common stock held by non-affiliates (based upon the closing price of such shares
as reported on the Pink Sheets) was approximately $58,288,231.  Shares
of the Registrant’s common stock held by each executive officer and director and
by each person who owns 10 percent or more of the outstanding common stock have
been excluded in that such persons may be deemed to be affiliates of the
Registrant. This determination of affiliate status is not necessarily a
conclusive determination for other purposes.





As of
September 22, 2009, there were 30,176,938 shares of the Registrant’s common
stock outstanding.














EXPLANATORY
NOTE





The sole
purpose of this Amendment No.1 to Form 10-K (File Number: 000-52496) is to amend
and restate in its entirety the disclosure under Item 9A(T) Controls and
Procedures of the Company’s annual report on Form 10-K for the fiscal year ended
June 30, 2009 filed with the SEC on September 29, 2009 (the “Form
10-K”).





Except as
set forth above, this Amendment No.1 to Form 10-K does not modify, amend or
update in any way any other items or disclosure in the Form 10-K.  This
Amendment No.1 to Form 10-K continues to speak as of the date of the original
Form 10-K and other than as specifically reflected in this Amendment No.1 to
Form 10-K does not reflect events occurring after the filing of the original
Form 10-K.




















ITEM 9A(T).   CONTROLS
AND PROCEDURES.


Evaluation of
disclosure controls and procedures.





The
Company’s management, with the participation of the Chief Executive Officer and
Chief Financial Officer, has evaluated the effectiveness of the Company’s
disclosure controls and procedures as of the end of the period covered by this
annual report (the “Evaluation Date”). Based on that evaluation, the Company’s
Chief Executive Officer and Chief Financial Officer concluded that, as of the
Evaluation Date, such controls and procedures were
effective.





Changes
in internal controls.





The term
“internal control over financial reporting” (defined in SEC Rule 13a-15(f))
refers to the process of a company that is designed to provide reasonable
assurance regarding the reliability of financial reporting and the preparation
of financial statements for external purposes in accordance with generally
accepted accounting principles. The Company’s management, with the participation
of the Chief Executive Officer and Chief Financial Officer, has evaluated any
changes in the Company’s internal control over financial reporting that occurred
during the fourth quarter of the year covered by this annual report, and they
have concluded that there was no change to the Company’s internal control over
financial reporting that has materially affected, or is reasonably likely to
materially affect, the Company’s internal control over financial
reporting.





Management’s
Report on Internal Control over Financial Reporting.





Management
of the Company is responsible for establishing and maintaining adequate internal
control over financial reporting as defined in Rule 13a-15(f) under the
Securities Exchange Act of 1934.  We have assessed the effectiveness
of those internal controls as of June 30, 2009, using the Committee of
Sponsoring Organizations of the Treadway Commission (“COSO”) Internal Control –
Integrated Framework as a basis for our assessment.





Because
of inherent limitations, internal control over financial reporting may not
prevent or detect misstatements.  Projections of any evaluation of
effectiveness to future periods are subject to the risk that controls may become
inadequate because of changes in conditions, or that the degree of compliance
with the policies and procedures may deteriorate.  All internal
control systems, no matter how well designed, have inherent
limitations.  Therefore, even those systems determined to be effective
can provide only reasonable assurance with respect to financial statement
preparation and presentation.





A
material weakness (within the meaning of PCAOB Auditing Standard No. 5) is a
deficiency, or a combination of deficiencies, in internal control over financial
reporting such that there is a reasonable possibility that a material
misstatement of our annual or interim financial statements will not be prevented
or detected on a timely basis. In the course of making our assessment of the
effectiveness of internal controls over financial reporting, we identified two
material weaknesses in our internal control over financial
reporting.  These material weaknesses consisted
of:





a.           Lack
of expertise in U.S accounting principles among the personnel in our Chinese
headquarters.  Our books are maintained and our financial statements
are prepared by the personnel employed at our executive offices in Heilongjiang
Province in the People’s Republic of China.  Few of our employees have
experience or familiarity with U.S accounting principles.  The lack of
personnel in our Heilongjiang office who are trained in U.S. accounting
principles is a weakness because it could lead to improper classification of
items and other failures to make the entries and adjustments necessary to comply
with U.S. GAAP.










b.           Lack
of independent control over related party transactions.  Jianye Wang
is the sole director and Chief Executive Officer of China Jianye Fuel and of its
subsidiary, Zhao Dong Jianye Fuel.  From time to time Mr. Wang has
made loans and capital contributions to finance the operations of Zhao Dong
Jianye Fuel.  The absence of other directors to review these
transactions is a weakness because it could lead to improper classification of
such related party transactions.





Management
is currently reviewing its staffing and their training in order to remedy the
weaknesses identified in this assessment.  To date, we are not aware
of significant accounting problems resulting from these weaknesses; so we have
to weigh the cost of improvement against the benefit of strengthened
controls.  However, because of the above conditions, management’s
assessment is that the Company’s internal controls over financial reporting were
not effective as of June 30, 2009.





This annual report does not include an attestation report
of the Company’s independent registered public accounting firm regarding
internal control over financial reporting. Management’s report was not subject
to attestation by the Company’s independent registered public accounting firm
pursuant to temporary rules of the Securities and Exchange Commission that
permit the Company to provide only management’s report in this annual
report.




ITEM
15.  EXHIBITS,
FINANCIAL STATEMENTS SCHEDULES.


Exhibit No.
            
            Description3.1
            
            Articles
      of Incorporation – filed as an exhibit to the Registration Statement on
      Form 10-SB (File No. 000-52496) filed on March 12,
2007.3.2
            
            Certificate
      of Amendment of Articles of Incorporation effective on January 17, 2008 –
      filed as an exhibit to the Current Report on Form 8-K filed on January 18,
      2008.3.3
            
            By-laws–
      filed as an exhibit to the Registration Statement on Form 10-SB (File No.
      000-52496) filed on March 12, 2007.10.1
            
            2008
      Equity Incentive Plan – filed as an exhibit to the S-8 Registration
      Statement (File No. 333-148895) filed on January 28,
  2008.10.2
            
            Merger
      Agreement dated as of November 12, 2007 by and among Standard Commerce,
      Inc., Jianye Acquisition Corp., and American Jianye Ethanol Company,
      Inc., filed as an exhibit to Form 8-K/A filed on June 20,
      2008.21
            
            Subsidiaries
      of the Registrant – filed as an exhibit to the Form 10-K (File No.
      000-52496) filed on September 29, 2009.31.1 *
            
            Certification
      of Principal Executive Officer filed pursuant to Section 302 of the
      Sarbanes-Oxley Act of 2002.32.1 *
            
            Certifications
      of Principal Executive Officer furnished pursuant to 18 U.S.C. Section
      1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
      2002.





* Filed
herewith.











SIGNATURES





Pursuant
to the requirements of Section 13 or 15(d) of the Securities Exchange Act
of 1934, the Company has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.





CHINA
      JIANYE FUEL, INC.By:
            /s/
      Jianye WangJianye
      WangChief
      Executive OfficerDate:
      March 5,
2010





Pursuant
to the requirements of the Securities Exchange Act of 1934, this report has been
signed below by the following persons on behalf of the Company in the capacities
and on the dates indicated.





Each
person whose signature appears below hereby authorizes Jianye Wang as
attorneys-in-fact to sign on his behalf, individually, and in each capacity
stated below, and to file all amendments and/or supplements to this annual
report on Form 10-K.





Signature
            
            Capacity
            
            Date/s/
      Jianye Wang
            
            Chairman,
      Chief Executive Officer, Chief
              Financial
      Officer and Director
            
            March
      5, 2010Jianye
      Wang