XML 58 R36.htm IDEA: XBRL DOCUMENT v2.4.0.6
13. Acquisitions, Divestitures and Material Agreements (Tables)
 12 Months Ended
Dec. 31, 2012
Notes to Financial Statements  
Purchase Price Allocation
    2011  
         
Issuance of Stock as merger consideration   $ 1,801,860  
Fair Value of stock options attributable to the pre-combination service     88,275  
Consideration paid   $ 1,890,135  
         
Working capital assets   $ 11,201  
Property, Plant & Equipment     65,493  
Working capital liabilities     (509,078 )
Debt assumed     (346,995 )
Deferred Taxes     (98,479 )
Intangibles     1,800,000  
Net Assets Acquired   $ 922,141  
Goodwill   $ 967,994  
Corn Procurement and Working Capital Agreement
J.D. Heiskell & Company:            
    2012     2011  
Sales            
Ethanol   $ 128,830,630     $ 105,447,012  
Distillers Grains     35,468,559       20,558,034  
Corn Oil     2,582,858       —  
Total Sales     166,882,047       126,005,046  
                 
Corn Purchases     156,984,918       106,194,420  
                 
Accounts Receivable   $ 394,784     $ 841,729  
Schedule of purchase price for Cilion
Cash   $ 16,500  
Fair value of shares issued     12,511  
Seller note payable     3,584  
    $ 32,595  
Schedule value of consideration was allocated to Cilion’s net tangible and identifiable intangible assets
Tangible Assets:      
  Accounts receivable   $ 3,114  
  Prepaid assets     5  
  Equipment held for resale     1,367  
  Property, plant and equipment     70,464  
  Other assets     1,073  
Total Tangible Assets Acquired     76,023  
         
Liabilities Assumed        
  Accounts payable     (6 )
  Deferred tax liability     (1,086 )
         
Total Enterprise Value   $ 74,931  
Schedule pro forma financial information Cilion

 

         
      Unaudited Proforma  
2011        
  Revenue   $ 141,858  
  Net loss     15,864  
           
2012          
  Revenue   $ 189,048  
  Net loss   (49,851 )