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Note 1. Basis of Presentation
9 Months Ended
Sep. 30, 2011
Significant Accounting Policies [Text Block]
Note 1.  Basis of Presentation

The unaudited condensed consolidated financial statements of Avalon Holdings Corporation and subsidiaries (collectively “Avalon”) and related notes included herein have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission.  Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been omitted consistent with such rules and regulations.  The accompanying unaudited condensed consolidated financial statements and related notes should be read in conjunction with the consolidated financial statements and related notes included in Avalon’s 2010 Annual Report to Shareholders.

In the opinion of management, these unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the financial position of Avalon as of September 30, 2011, and the results of its operations and cash flows for the interim periods presented.

The operating results for the interim periods are not necessarily indicative of the results to be expected for the full year.

Avalon evaluated subsequent events through the date the financial statements were issued. In October 2011, Avalon signed a proposed five year lease agreement with a certain energy company to lease approximately two hundred acres for the purpose of drilling for oil and gas. The energy company has 30 days to execute the lease. If the energy company executes the lease, Avalon will receive in excess of $.4 million as an initial bonus payment at that time.