Commitments and Contingencies

3 Months Ended

Apr. 30, 2013

Commitments and Contingencies Disclosure [Text Block]

Note 14. 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 and NuGen have combined forward purchase contracts for approximately 22.7 million bushels of corn, the principal raw material for their ethanol plants. They expect to take delivery of the grain through July 2013.

One Earth and NuGen have combined sales commitments for approximately 40.8 million gallons of ethanol, approximately 63,000 tons of distillers grains and approximately 4.3 million pounds of non-food grade corn oil. They expect to deliver the ethanol, distillers grains and non-food grade corn oil through July 2013.