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14. Subsequent Events
9 Months Ended
Sep. 30, 2013
Subsequent Events [Abstract]  
14. Subsequent Events

Third Eye Capital Debt Agreement

 

On October 28, 2013 with an effective date of September 30, 2013, Third Eye Capital agreed to the Limited Waiver and Amendment No. 6 to waive the following covenants of the Company in their entirety: (i) obligation to provide an independent EBITDA and Crush Margin calculation within 30 days, which has been replaced with a covenant to bear the expense and cooperate with consulting firm representing Third Eye Capital for quality of earnings review and assessment and study of procurement strategies and practices; and (ii) sale of certain equipment, which has been replaced with a covenant to remit all future payments received on the equipment to Third Eye Capital within two business days of receipt.  In addition, Third Eye Capital agreed to give the right to extend the maturity date of the notes to six months from July 6, 2014.

 

As consideration, the Company agreed to pay Third Eye Capital: (i) a waiver fee of $500,000 to be added to the principal balance of the revolving credit facility and 1,000,000 shares of common stock of the Company.