UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported):
May 8, 2008
Able
Energy, Inc.
(Exact
name of registrant specified in charter)
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Delaware
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001-15035
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22-3520840
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(State
of Incorporation)
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(Commission
File Number)
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(IRS
Employer
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Identification
No.)
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198
Green Pond Road, Rockaway, NJ 07866
(Address
of principal executive offices) (Zip Code)
(973)
625-1012
Registrant’s
Telephone Number
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 (see General Instruction A.2. below):
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
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Item
1.01 Entry
Into A Material Definitive Agreement
On May 8,
2008, All American Plazas, Inc. (“Plazas”), a wholly owned subsidiary of Able
Energy, Inc. (the “Company”), entered into a Fuel Supply Agreement with Atlantis
Petroleum, LLC (“Atlantis”). Plazas was formed by the Company to operate the
truck plaza businesses the Company had acquired in May 2007 from All American
Properties, Inc. (“Properties”), which was formerly known as All American
Plazas, Inc. Properties is the largest shareholder of the Company.
The Fuel
Supply Agreement provides that for a term of three years Atlantis will be the
sole and exclusive diesel fuel supplier to eight (8) of the truck stop plazas
operated by Plazas located in Pennsylvania. The price per gallon of the diesel
fuel supplied by Atlantis provides Plazas with a favorable wholesale rate. The
price per gallon is based upon the delivery of a full transport truckload of
product. All prices charged by Atlantis are subject to the provisions of
applicable law. It is estimated that pursuant to the Fuel Supply Agreement
Atlantis will supply at least 44,000,000 gallons of diesel fuel for the first
year and increase as Plazas increases its market share.
Atlantis
is headquartered outside of Philadelphia, Pennsylvania and is a rising player in
the fuel industry. Atlantis is an active member of the Association of
Convenience Stores and the Society of Independent Gasoline Marketers of America
and is a distributor of petroleum products throughout the Mid-Atlantic
and Northeast United States.
.
The
obligations of Plaza under the Fuel Supply Agreement have been guaranteed by
Properties which guaranty is limited to a thirty day period beginning thirty
days prior to Atlantis’ written notice to Properties of Plazas’ breach of the
Fuel Supply Agreement.
SIGNATURES
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 on this 13th day of May, 2008.
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ABLE
ENERGY, INC.
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By:
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/s/ Gregory D. Frost
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Name:
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Gregory
D. Frost
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Title:
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Chief
Executive Officer
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