Annual report pursuant to section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Operating Activities:    
Consolidated net loss $ (43,355) $ (4,023)
Adjustments to reconcile consolidated net loss to cash used in operating activities:    
Fair value adjustments on convertible debt and warrants (1,954) (7,559)
Depreciation and amortization of intangibles 12,205 12,648
Interest expense added to Plant Owners' debt 3,542  
Inventory valuation 816 47
Gain on derivative instruments (999) (96)
Amortization of deferred financing fees 736 651
Noncash compensation 806 2,278
Bad debt recovery (6) (218)
Interest on convertible debt paid with stock    3,076
Changes in operating assets and liabilities:    
Accounts receivable 2,095 (2,067)
Inventories (929) 1,128
Prepaid expenses and other assets 2,251 (933)
Prepaid inventory 3,817 (6,524)
Accounts payable and accrued expenses 129 (2,358)
Net cash used in operating activities (20,846) (3,950)
Investing Activities:    
Additions to property and equipment (2,273) (2,365)
Purchases of New PE Holdco ownership interests (10,000) (9,117)
Net cash used in investing activities (12,273) (11,482)
Financing Activities:    
Net proceeds from sales of common stock and warrants 20,924 7,364
Proceeds from Plant Owners' borrowings 24,022 3,000
Net proceeds (payments) on Kinergy's line of credit (721) 6,958
Principal payments on senior and convertible notes (10,000) (1,212)
Debt issuance costs (1,166)  
Preferred stock dividend payments (1,268)   
Principal payments paid on related party borrowings    (500)
Net cash provided by financing activities 31,791 15,610
Net increase (decrease) in cash and cash equivalents (1,328) 178
Cash and cash equivalents at beginning of period 8,914 8,736
Cash and cash equivalents at end of period 7,586 8,914
Supplemental Information:    
Interest paid 8,828 11,669
Noncash financing and investing activities:    
Preferred stock dividends paid in common stock 1,464   
Notes issued for purchase of 33% ownership in New PEHC 10,000   
Preferred stock dividends accrued    1,265
Debt extinguished with issuance of common stock    33,788
Reclass of warrant liability to equity upon cashless net exercise of warrants    $ 1,157