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11. Segment Information
 12 Months Ended
Dec. 31, 2011
Segment Reporting [Abstract]  
11. Segment Information

 

11. Segment Information

 

Summarized financial information by reportable segment for the years ended December 31, 2011 and 2010, based on the internal management system, is as follows:

 

Statement of Operations Data   Year ended December 31,  
    2011     2010  
Revenues            
India   $ 9,911,616     $ 8,132,108  
North America     131,946,298       -  
Other     -       -  
Total revenues   $ 141,857,914     $ 8,132,108  
                 
Cost of goods sold                
India   $ 9,494,395       8,254,123  
North America     127,721,645       -  
Other     -       -  
Total cost of goods sold   $ 137,216,040     $ 8,254,123  
                 
Gross profit (loss)                
India   $ 417,221     $ (122,015 )
North America     4,224,653       -  
Other     -       -  
Total gross profit (loss)   $ 4,641,874     $ (122,015 )

 

India: In 2010 all of the Company’s revenues were from sales to external customers in the Company’s India Segment. During 2010, customer Essar Steel Limited accounted for approximately 10% of the Company’s biodiesel sales, but no customer accounted for 10% or more of consolidated 2010 sales. In 2011, customer Gunvor International B.V.Amsterdam represented approximately 70% of total revenues by purchasing biodiesel for export to Europe.

 

North America: In 2011, all of the Company’s revenues from sales of ethanol and WDG were sold to J.D. Heiskell pursuant to the Corn Procurement and Working Capital Agreement.  Sales to J.D. Heiskell accounted for 93% of the Company’s consolidated revenues.

 

    Year Ended December 31  
Total Assets Data   2011     2010  
India   $ 15,654,763     $ 16,349,504  
North America     11,563,132       5,244,421  
Other     26       110  
Total Assets   $ 27,217,921     $ 21,594,035