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The Registrant is not aware of any existing US governmental regulation and does not anticipate any US governmental regulation that materially affects the Registrant's ability to conduct its business operations. This does not however, mean that the industry may be subject to future regulations by some governmental agencies.
 
On June 20th, 2006, and approved by the Board of Directors on July 12th, 2006, ParaFin signed an Agreement directly with OY Coral Marine Management, Ltd. a company organized under the laws of Finland (“OY Coral” or the “Purchaser”) whereby ParaFin agreed to buy a 12.2 million metric ton (88,864,800 Bbls.)...