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8. Segment Information (Tables)

9 Months Ended

Sep. 30, 2012

Summarized financial information by reportable segment for the nine and three month ended September 30, 2012 and September 30, 2011 follow:

	For the three months ended September 30, 2012			For the three months ended September 30, 2011		For the nine months ended September 30, 2012			For the nine months ended September 30, 2011

Statement of Operations Data
Revenues
India	$	2,023,165		$	4,393,737	$	6,547,971		$	5,132,313
North America		51,385,037			52,177,858		135,335,873			79,430,941
Other		-			-		-			-
Total revenues	$	53,408,202		$	56,571,595	$	141,883,844		$	84,563,254

Cost of goods sold
India	$	1,937,563			4,172,298	$	6,771,935			4,976,761
North America		53,733,287			51,617,076		141,654,009			79,167,739
Other		-			-		-			-
Total cost of goods sold	$	55,670,850		$	55,789,374	$	148,425,944		$	84,144,500

Gross loss
India	$	85,602		$	221,439	$	(223,964	)	$	155,552
North America		(2,348,250	)		560,782		(6,318,136	)		263,202
Other		—			—		—			—
Total gross loss	$	(2,262,648	)	$	782,221	$	(6,542,100	)	$	418,754

India. During the nine months ended September 30, 2012, Panama Petro Chem Limited accounted for 12 percent of total product sales through its purchases of biodiesel. For the first nine months of 2012, the India segment sold to the domestic market with the following mix of products: refined palm oliens (45%), biodiesel (34%), refined glycerin (20%) and scrap (1%).

North America: In 2011 and year-to-date through September 30, 2012, all of the Company’s revenues from sales of ethanol, distiller’s grains were sold to J.D. Heiskell pursuant to the Corn Procurement and Working Capital Agreement established between the company and J.D. Heiskell. During the second quarter of 2012 corn oil was added to the product mix. The Company handles the marketing of corn oil directly. Sales to J.D. Heiskell accounted for 90% of the Company’s consolidated revenues for the first nine months of 2012.

Total assets consist of the following:

	September 30, 2012		December 31, 2011
India	$	15,577,444	$	15,654,763
North America (United States)		83,270,290		11,563,132
Other		-		26
Total Assets	$	98,847,734	$	27,217,921

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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