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7. Agreements (Tables)
 9 Months Ended
Sep. 30, 2012
Agreements Tables  
Schedule of working capital agreement activity

   3 months ending September 30, 2012  3 months ending September 30, 2011  9 months ending September 30, 2012  9 months ending September 30, 2011
Ethanol sales   37,386,793    42,333,207    100,504,700    64,236,601 
Wet distiller's grains sales   10,665,481    7,742,711    26,606,536    11,857,903 
Corn oil   501,991    —      668,500    —   
Corn purchases   46,299,261    43,016,152    120,730,538    69,309,030 
Accounts receivable   1,414,625    538,143    1,414,625    538,143 
Preliminary acquisition fair value

 

 

The preliminary acquisition date fair value of consideration for Cilion, Inc. is recapped below based on the trading value of the stock at the time of the acquisition and the expected fair value of the Seller note payable (in thousands):

 

 

Cash   $ 16,500  
Fair value of shares issued     15,600  
Seller note payable     3,584  
    $ 35,684  


The preliminary acquisition date fair value of the net assets acquired in the Cilion acquisition, based on their estimated fair values as of July 6, 2012, are set forth below (in thousands):

 

 

Tangible Assets:      
  Accounts receivable   $ 3,114  
  Prepaid assets     5  
  Equipment held for resale     1,367  
  Property, plant and equipment     70,464  
  Other assets     147  
Total Tangible Assets Acquired     75,097  
         
Liabilities Assumed        
  Accounts payable     (6 )
         
Identified Intangible Assets        
  Permits     926  
Total Enterprise Value   $ 76,017