X0304 5 2010-12-31 0 0 1 0001487920 USA Synthetic Fuel Corp USFC 0001420101 Graves Harry Hammond USA SYNTHETIC FUEL CORPORATION 312 WALNUT STREET #1600 CINCINNATI OH 45202 1 1 1 0 CHIEF FINANCIAL OFFICER COMMON STOCK 2010-09-27 5 J 0 L 28235860 A 28235860 D COMMON STOCK 2010-09-27 5 J 0 L 4119570 A 4119570 I BY SPOUSE COMMON STOCK 2010-09-27 5 J 0 L 1200000 A 1200000 I BY THE BELCARO GROUP LP COMMON STOCK 2010-09-27 5 J 0 L 9000000 A 9000000 I BY SPOUSE AS TRUSTEE OF TRUST COMMON STOCK 2011-04-01 4 J 0 L 9000000 D 33555430 I SPOUSE NO LONGER TRUSTEE OF TRUST THE REPORTING PERSON DIRECTLY OWNED 28,235,860 SHARES OF COMMON STOCK ON SEPTEMBER 27, 2010, THE DATE WHICH IS SIXTY DAYS AFTER THE DATE ON WHICH USA SYNTHETIC FUEL CORPORATION FILED ITS FORM 10 REGISTRATION STATEMENT, SUBJECTING THE REPORTING PERSON TO SECTION 16 OF THE SECURITIES EXCHANGE ACT OF 1934 THE REPORTING PERSON'S SPOUSE OWNED 4,119,570 SHARES OF COMMON STOCK ON 9/27/2010. THE REPORTING PERSON IS A PARTNER IN THE BELCARO GROUP LP ("BELCARO") AND OWNS 40% OF BELCARO, GIVING THE REPORTING PEROSN A PROPORTIONATE INTEREST IN BELCARO'S OWNERSHIP. THE REPORTING PERSON HAS BENEFICIAL OWNERSHIP OF 1,200,000 SHARES ON 9/27/2010. THE REPORTING PERSON'S SPOUSE WAS THE TRUSTEE OF THE FIFTH THIRD BANK AGENT FOR LYNNE R. GRAVES, TRUSTEE, U/A TRUST 3 DATED DECEMBER 1, 2005 ("TRUST"), WHICH OWNED 9,000,000 SHARES ON SEPTEMBER 27, 2010. BECAUSE THE REPORTING PERSON'S SPOUSE WAS THE TRUSTEE OF THE TRUST, THE REPORTING PERSON WAS DEEMED TO BE THE BENEFICIAL OWNER OF THE SHARES HELD BY THE TRUST ON SEPTEMBER 27, 2010. ON APRIL 1, 2011 THE REPORTING PERSON'S SPOUSE RESIGNED AS TRUSTEE AND RELINQUISHED VOTING, INVESTMENT AND DISPOSITIVE POWERS WITH RESPECT TO THE TRUST. AS A RESULT, THE REPORTING PERSON NO LONGER IS DEEMED TO BE THE BENEFICIAL OWNER OF THE SHARES HELD BY THE TRUST. REPRESENTS 28,235,860 SHARES HELD DIRECTLY, 4,119,570 SHARES HELD INDIRECTLY BY SPOUSE, AND 1,200,000 HELD INDIRECTLY BY THE BELCARO GROUP LP, OF WHICH THE REPORTING PERSON IS A PARTNER. FORM 3 HOLDINGS REPORTED /S/ HARRY H. GRAVES 2011-08-24