<SUBMISSION>
<ACCESSION-NUMBER>0000950134-07-010925
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20051202
<ITEMS>2.04
<ITEMS>3.02
<FILING-DATE>20070510
<DATE-OF-FILING-DATE-CHANGE>20070509
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>APOLLO RESOURCES INTERNATIONAL INC
<CIK>0001048237
<ASSIGNED-SIC>1311
<IRS-NUMBER>841431425
<STATE-OF-INCORPORATION>UT
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-25873
<FILM-NUMBER>07833933
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>3001 KNOX STREET, SUITE 407
<CITY>DALLAS
<STATE>TX
<ZIP>75205
<PHONE>214-389-2151
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>3001 KNOX STREET, SUITE 407
<CITY>DALLAS
<STATE>TX
<ZIP>75205
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>POWERBALL INTERNATIONAL INC
<DATE-CHANGED>20000814
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>NATEX CORP
<DATE-CHANGED>19991029
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>NATEX CORP/UT
<DATE-CHANGED>19990409
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d46584e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>Current Report<BR>
Pursuant to Section&nbsp;13 or 15(d) of the<BR>
Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Date of report (Date of earliest event reported): December&nbsp;2, 2005</B></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>Apollo Resources International, Inc.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact Name of Registrant as Specified in Its Charter)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Utah</B><BR>
(State or Other Jurisdiction of Incorporation)</DIV>

<DIV align="center">
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<TR valign="bottom">
    <TD align="center" valign="top"><B>000-25873</B><BR>
(Commission File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>84-1431425</B><BR>
(I.R.S. Employer Identification No.)</TD>
</TR>
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    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>3001 Knox Street, Suite&nbsp;403<BR>
Dallas, Texas</B><BR>
(Address of Principal Executive Offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>75205</B><BR>
(Zip Code)</TD>
</TR>
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</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>(214)&nbsp;389-9800</B><BR>
(Registrant&#146;s Telephone Number, Including Area Code)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>N/A</B><BR>
(Former Name or Former Address, if Changed Since Last Report)</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
</DIV>

<DIV style="margin-top: 6pt">
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    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR
230.425)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR
240.14a-12)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))</TD>
</TR>

</TABLE>
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





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<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;2 &#151; Financial Information</B>
</DIV>

<!-- link2 "Item&nbsp;2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement" -->

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Item&nbsp;2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On July&nbsp;6, 2005 and as filed by Company with the SEC in Current Report on Form 8-K on July
14, 2005, Company entered into that certain note and warrant purchase agreement, pursuant
to which Company sold up to $3.5&nbsp;million senior convertible notes, as amended, as well as
warrants and additional investment rights and entered into those certain registration
rights agreements, as amended. Such notes are due in 2007 and were made to several
institutional and accredited investors in a private placement exempt from registration
under the Securities Act of 1933 (collectively &#147;Convertible Notes&#148;). Such investors are
as follows: Cranshire Capital LP, Crescent International, Ltd., Iroquois Master Fund Ltd.,
Omicron Master Trust, Rockmore Investment Master Fund, Portside Growth and Opportunity
Fund, RHP Master Fund, Ltd., Smithfield Fiduciary LLC, SRG Capital LLC, and Sunrise Equity
Partners, LP.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the terms of each respective senior secured promissory note, the Company was
obligated to register its shares of common stock and upon such registration, the failure
of the Registration Statement to be declared effective by the Securities and Exchange
Commission on or prior to the date which is one hundred twenty (120)&nbsp;days after the
closing date would constitute an event of default. The Company has not registered its
shares and therefore an event of default has occurred on or about December&nbsp;3, 2005 under
each respective secured promissory note. However, the failure of the Registration
Statement to be declared effective was due in part to the SEC&#146;s position as taken in its
comment to the Company&#146;s Registration Statement filing. Such position deemed that those
shares granted under an additional investment right provision of the noteholders&#146; Note and
Warrant Purchase Agreement did not meet the criteria for registration under Rule&nbsp;415 of
Regulation&nbsp;C (17 C.F.R. &#167;230.415).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Further, pursuant to the terms of each respective senior secured promissory note, the
Company was obligated to repay 1/24th of the respective principal balances until paid in
full.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Of the eight original holders of the Convertible Notes, five have been paid in full. The
Company and the remaining three noteholders have entered into active settlement
negotiations. Of the total remaining aggregate principal balance of $259,733 due to the
three remaining noteholders, principal and interest payments were last made on April&nbsp;17th,
2007. As such, the non-payment of principal and interest previously due and payable
constitutes a default under each of the respective remaining Convertible Notes; however,
as a result of such April&nbsp;17th, 2007 payment, all principal and interest has been brought
current pursuant to the terms of the Convertible Notes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;3 &#151; Securities and Trading Markets</B>
</DIV>

<!-- link2 "Item&nbsp;3.02 Unregistered Sales of Equity Securities" -->

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Item&nbsp;3.02 Unregistered Sales of Equity Securities</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On December&nbsp;2, 2005, the Company, in two separate securities purchase agreements pursuant to
Regulation&nbsp;S, sold to Mercatus &#038; Partners, LP (&#147;Mercatus&#148;) a total of 14,854,930 unregistered
shares of its common stock (&#147;Stock&#148;) at a discount of 15% or $0.272 per share, totaling $4,040,541,
payable in U.S. dollars within thirty days thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mercatus failed to pay for the Stock and therefore an event of default occurred.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The parties have entered into active settlement negotiations and the Company has recovered
$585,360 to date.
</DIV>

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>

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    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="center"><U>Apollo Resources International, Inc.</U><BR>
(Registrant)<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date: May 08, 2007&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Dennis G. McLaughlin, III
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Dennis G. McLaughlin, III,&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


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