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3. Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2011
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | 3. Property, Plant and Equipment Property, plant and equipment consist of the following:
|  | As of December 31, |
|  | 2011 |  |  | 2010 |
Land |  | $ | 667,008 |  |  | $ | 792,036 |
Buildings |  |  | 10,429,402 |  |  |  | 12,237,853 |
Furniture and fixtures |  |  | 152,373 |  |  |  | 104,199 |
Machinery and equipment |  |  | 1,025,105 |  |  |  | 907,651 |
Leasehold and tenant improvements |  |  | 2,800,339 |  |  |  | 1,024,831 |
Construction in progress |  |  | 3,186,551 |  |  |  | 3,066,928 |
Total gross property, plant & equipment |  |  | 18,260,778 |  |  |  | 18,133,498 |
Less accumulated depreciation |  |  | (2,729,873 | ) |  |  | (1,728,948 | )
Total net property, plant & equipment |  | $ | 15,530,905 |  |  | $ | 16,404,550 |
The Company recorded depreciation for the years ended December 31, 2011 and 2010 of $1,141,007 and $760,051, respectively. As of December 31, 2011 and 2010, the components of construction in progress include $3,186,551 and $3,066,928, respectively, related to the Company’s Kakinada, India biodiesel pre-treatment and glycerin units. As of December 31, 2011 and 2010, leasehold improvements and tenant improvements relate to the Keyes, California ethanol plant. Management is required to evaluate these long-lived assets for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Based on the evaluation, management determined no assets required impairment as of December 31, 2011 and 2010.

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- Definition The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 5 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230 + Details
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