Item 8.01. Other Information.

     On January 25, 2007, the Company sold the remaining asset held by the Company, which consisted of the real estate facilities located on Grand River Avenue in Novi, Michigan, to GRB Novi, LLC in a negotiated transaction for a total contract price of $1,500,000.00. The Company believes that this will result in a final distribution to all remaining shareholders of record on February 27, 2007 in the amount of $1.69 per share, after costs and expenses. It is expected that the Company will make this final distribution on March 20, 2007. The Company previously paid a distribution of $11.55 per share on October 31, 2000. The sale of its manufacturing plants in Novi, Michigan represent the sole remaining asset of the Company and following the proposed final distribution, the Company will terminate all activities and wind up its affairs.

     The number of shares of the Company’s outstanding common stock has declined by more than five percent (5%) to 926,003 as of February 28, 2007, from 1,006,272 reported as of February 12, 2001. The decline in shares outstanding is due to the repurchase of 80,269 shares by the Company for $1.15 in 2006.

     Previously Gregory Adamczyk, Richard Thompson and Rocco Pollifrone resigned their positions as Directors of the Company, leaving Robert A. Clemente as the sole Director, and Scott Konieczny resigned his positions as Chief Financial Officer, Secretary and Treasurer.

     Also, the principal mailing address of the Company has changed to 401 S. Old Woodward Avenue, Suite 400, Birmingham, MI 48009.