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Commitments and Contingencies
 3 Months Ended
Apr. 30, 2023
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Disclosure [Text Block]

Note 12. Commitments and Contingencies

 

The Company may be involved in various legal actions arising in the normal course of business, from time to time. After taking into consideration legal counsels’ evaluations of any such action(s), management is of the opinion that their outcome will not have a material adverse effect on the Company’s Consolidated Financial Statements. The Company recorded a liability of $250,000 at April 30, 2023 and January 31, 2023, as a probable and reasonably estimable loss associated with a legal contingency for a patent infringement case involving our refined coal facility which is no longer in operation.

 

One Earth and NuGen have combined forward purchase contracts for approximately 20.3 million bushels of corn, the principal raw material for their ethanol plants, and they have combined forward purchase contracts for approximately 4.1 million MmBtu (million British thermal unit) of natural gas.

 

One Earth and NuGen have combined sales commitments for approximately 42.8 million gallons of ethanol, approximately 82,000 tons of distillers grains and approximately 13.9 million pounds of distillers corn oil.