Commitments and Contingencies

6 Months Ended

Jul. 31, 2011

Commitments and Contingencies Disclosure [Text Block]

Note 16. Commitments and Contingencies

          The Company is involved in various legal actions arising in the normal course of business. After taking into consideration legal counsels’ evaluations of such actions, management is of the opinion that their outcome will not have a material effect on the Company’s consolidated condensed financial statements.

          One Earth has forward purchase contracts for 5.3 million bushels of corn, the principal raw material for its ethanol plant. One Earth expects to take delivery of the grain through August 2011.

          One Earth has combined sales commitments for 13.0 million gallons of ethanol and 46,000 tons of distillers grains. One Earth expects to deliver the ethanol and distillers grains through August 2011.