Greenshift Corporation (GERS)

[totaltruth]

This is from the biof 10q I like where it talks about the increase of 5.2mil in co-product revenues being attributed to corn oil extraction.

They are just starting up I'm sure throughout the year the corn oil revenues will increase massively as they fine tune the equipment just like many other custommers!

This is from page 28
During 2011, the Company began installing corn oil extraction systems at each of its ethanol plants so that it could begin producing non-food grade corn oil as an additional co-product. These systems were installed using certain patented technology we have licensed from Greenshift Corporation for which we pay a royalty. On October 28, 2011, the Company’s Operating Subsidiaries began receiving funding under an operating lease each operating Subsidiary entered into with Farnam Street Financial, Inc. These operating leases provided the funding to pay for most of the costs of installing the corn oil extraction systems at each Operating Subsidiary. The installation in Wood River was completed in December 2011 and the installation in Fairmont was completed in January 2012. Both Operating Subsidiaries began generating revenues from corn oil sales early in the first quarter of 2012. 2

This is from page 31
The following table sets forth key operational data for the three months ended March 31, 2012 and March 31, 2011 that we believe are important indicators of our results of operations: Three Months Ended March 31, 2012 2011 Ethanol sold (gallons, in thousands) 51,971 56,658 Dry distillers grains sold (tons, in thousands) 54.0 95.8 Wet distillers grains sold (tons, in thousands) 251.4 148.7 Corn oil sold (pounds, in thousands) 6,842 —Corn Ground (bushels, in thousands) 18,856 20,340 Three Months Ended March 31, 2012 Compared to the Three Months Ended March 31, 2011 Net Sales: Net Sales were $139.4 million for the three months ended March 31, 2012 compared to $158.0 million for the three months ended March 31, 2011, a decrease of $18.6 million or 11.8%. This decrease was primarily attributable to a decrease in ethanol revenues of $23.8 million which was offset by an increase in coproduct revenues of $5.2 million. The decrease in ethanol revenue was attributable to both a decrease in the per unit price we received for ethanol, reflecting decreases in market prices compared to the year ago period, and a decrease in the quantity of ethanol produced and sold. Lower ethanol production as compared to the prior year resulted primarily from reduced grind rates due to a tightened corn supply in the first three months of 2012. The increase in coproduct revenue was primarily attributable to the commencement of corn oil extraction at both of our plants in the first quarter of 2012, in addition to receiving a higher per unit price for our distillers grains for the three months ended March 31, 2012 as compared to the year ago period.


Here is your link to read it for yourself as I know copy and paste on my phone tends to run things together.

http://www.sec.gov/Archives/edgar/data/1373670/000114420412027734/v311843_10q.htm