"For payment purposes, shareholders holding common stock in a street name through a nominee, such as a bank or broker, will be treated in the same manner as shareholders whose shares are registered in their own names." Source: Preliminary Proxy 11/10/2008

 Looks like the deal will happen NOT before 2/10/2009.

Approved by the Board of Directors. 1-23-2009.

Sources of Funds. The expenses and cash consideration for the reverse stock split will be paid with the Company’s available cash and credit, cash from operations, and bank borrowings to the extent necessary. The Company and the Principal Group estimate that they will use approximately $225,000.00 to $260,000.00 in cash to complete the reverse stock split, which includes cash payments to be made in lieu of issuing fractional shares as well as professional fees and other expenses related to the transaction.

A definitive proxy is due out of February 17, 2009. There is no vote needed for this transaction to occur.

"Entrx intends for the Reverse/Forward Split to treat shareholders holding Common Stock in street name through a nominee (such as a bank or broker) in the same manner as shareholders whose shares are registered in their names. Nominees will be instructed to effect the Reverse/Forward Split for their beneficial holders. However, nominees may have different procedures and shareholders holding shares in street name should contact their nominees."

New Preliminary Proxy on 2/10/2009 indicates the meeting date will be 04/15/2009

Notes:
"Katy intends to treat stockholders holding its common stock in street name in the same manner as record holders."Source: Preliminary Proxy 10/10/2008
Financing: "It is expected that the entire $482,000 estimated to be necessary to pay the Cash Out Price to the Cashed Out Holders and Continuing Holders will come from the Company’s credit facility... The Company entered into a $50.6 million credit facility with Bank of America on November 30, 2007 (the “Credit Agreement”), which consists of a $10.6 million term loan (“Term Loan”) and a $40.0 million revolving loan (“Revolving Credit Facility”), including a $10.0 million sub-limit for letters of credit. The Company’s Term Loan balance immediately prior to the Credit Agreement was $10.0 million. The annual amortization on the new Term Loan, paid quarterly, is $1.5 million with final payment due November 30, 2010. The Term Loan is collateralized by the Company’s property, plant and equipment." - Source: Preliminary Proxy 10/10/2008
Effective January 30, 2009, Philip D. Reinkemeyer, former Director of Financial Reporting and Treasurer of Katy Industries, Inc.
Definitive proxy filed on Feb. 17, 2009. Special shareholders meeting to be held March 19, 2009 to vote on the deal.

"Management recommended that a ratio of 1-to-500 would reduce the number of record shareholders to a level sufficiently below 300 to allow adequate margin for any increase in the number of shareholders that might occur prior to or after the effectiveness of a reverse stock split (for example, as a result of holders with shares in “street name” requesting that share certificates be issued in their own name, or persons other than current shareholders acquiring shares)."

"The Reverse/Forward Stock Split will not affect holdings of Common Stock held by shareholders in “street name” through a nominee (such as a bank or broker).  Nominees may have different procedures, and shareholders holding Common Stock in street name should contact their nominees to determine if and how they will be affected by the Reverse/Forward Stock Split."

Litigation with TEKsystems has been settled. 12/04/2008

Source of financing: "The total amount of funds needed to cash out the fractional shares is estimated to be approximately $20,908. The Company will use cash on hand to make this payment." Source: Definitive Proxy 1/5/2009

Tender price reduced to $0.30 as stated in the Definitive proxy on 1/5/2009.

The reverse split was approved by shareholders at the February 10, 2009 meeting. Source: Current Report 02/17/2009

"A stockholder holding fewer than 65,000 shares of Common Stock in street name who wants to receive cash in the Reverse/Forward Stock Split should instruct his, her or its nominee to transfer such stockholder’s shares into a record account in such stockholder’s name by June 15, 2007 to ensure that such stockholder will be considered a holder of record prior to the Effective Date of the Reverse/Forward Stock Split." 5/18/2007 Price closed at $0.034 on 5/18/2007. "As of November 15, 2007, Apollo Resources International, Inc. (the “Company”) has not completed its “going private transaction”. The Company continues to work toward completion of its past due filings. In the meantime, with the change in oil and gas market conditions, i.e., drastically higher domestic crude oil prices, the Company is reviewing its options with regard to maximizing shareholder value and is considering alternative courses of action." - May indicate this deal could be canceled. "The SEC requires that the Company’s past due filings be current prior to proceeding with the going private transaction. After reviewing its options over the past several weeks, the Company intends to proceed with its going private transaction." 3/26/2008
I think this deal might have been abandoned. Changing the status to cancelled. 2/6/2009

The CEO, Tilman Fertitta, is acquiring the company. The price was lowered from $21 down to $13.50.