v2.3.0.11

Note 6. Brunswick Terminal Asset Purchase

3 Months Ended

Jun. 30, 2011

Business Acquisition, Pro Forma Information, Description

 6.  BRUNSWICK TERMINAL ASSET PURCHASE.

On July 15, 2010 Blackwater Georgia, L.L.C. (“BWGA”), a wholly-owned subsidiary of the Company, finalized the acquisition of the Brunswick Terminal for $1,800,000 from NuStar Terminals Operations Partnership, L.P. (the “Seller”).

Presented below are unaudited pro-forma consolidated statements of operations for the three-month period ending June 30, 2010, when considering the operating results of the Brunswick Terminal, if acquired as of April 1, 2009.

	Three Months Ended June 30, 2010
Revenue		$	1,421,974
Net income (loss)		$	112,513
NET INCOME (LOSS) PER COMMON SHARE,
BASIC		$	0.00
DILUTED		$	0.00
Weighted average number of shares outstanding:
BASIC			54,409,146
DILUTED			65,019,430

X

- Definition

Description of the pro forma information, nature of adjustments made to historical information to arrive at pro forma amounts, amounts excluded from pro forma information, any material-nonrecurring items included in the pro forma information and limitations of pro forma disclosures.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2-3)
-URI http://asc.fasb.org/extlink&oid=6909870&loc=d3e1392-128463

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141
-Paragraph 54
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141
-Paragraph 55
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 68
-Subparagraph r(2, 3)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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