Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Operating Activities:    
Consolidated net income (loss) $ 12,897,000 $ (10,907,000)
Adjustments to reconcile consolidated net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of intangibles 9,775,000 8,979,000
Deferred income taxes 191,000 0
Interest expense added to Plan Owners' debt 0 4,745,000
Loss on extinguishments of debt 2,363,000 1,795,000
Fair value adjustments on convertible debt and warrants 37,465,000 (2,293,000)
Amortization of debt discount 1,815,000 875,000
Amortization of deferred financing fees 1,139,000 1,621,000
Inventory valuation 722,000 8,000
Non-cash compensation 1,311,000 1,310,000
Derivative instruments 700,000 1,652,000
Bad debt expense (recovery) (40,000) 231,000
Changes in operating assets and liabilities:    
Accounts receivable 4,862,000 (1,282,000)
Inventories 2,401,000 2,507,000
Prepaid expenses and other assets 962,000 (1,696,000)
Prepaid inventory 1,734,000 (5,810,000)
Accounts payable and accrued expenses (2,047,000) 3,138,000
Net cash provided by operating activities 76,250,000 4,873,000
Investing Activities:    
Additions to property and equipment (9,996,000) (1,936,000)
Purchases of New PE Holdco ownership interests (6,000,000) (1,836,000)
Net cash used in investing activities (15,996,000) (3,772,000)
Financing Activities:    
Proceeds from equity offering 26,073,000 0
Proceeds from exercise of warrants 42,656,000 2,064,000
Proceeds from senior notes 0 22,192,000
Proceeds from Series A and B convertible notes 0 14,000,000
Proceeds from Plant Owners' borrowings 0 5,000,000
Principal payments on senior notes (13,984,000) (5,303,000)
Principal payments on related party note (750,000) 0
Parent purchases of Plant Owners' debt (17,038,000) (25,273,000)
Net proceeds from Kinergy's line of credit (5,570,000) (599,000)
Principal Payments on Plant Owners' borrowings (35,378,000) (8,622,000)
Principal payments on capital leases (3,772,000) (465,000)
Debt issuance costs (440,000) (1,560,000)
Preferred stock dividends paid (946,000) (946,000)
Net cash (used in) provided by financing activities (9,149,000) 488,000
Net increase in cash and cash equivalents 51,105,000 1,589,000
Cash and cash equivalents at beginning of period 5,151,000 7,586,000
Cash and cash equivalents at end of period 56,256,000 9,175,000
Supplemental Information:    
Interest paid 5,606,000 4,594,000
Income taxes paid 10,470,000 0
Noncash financing and investing activities:    
Reclass of warrant liability to equity upon warrant exercises 40,884,000 260,000
Preferred stock dividends paid in common stock 1,463,000 2,195,000
Reclass of noncontrolling interest to APIC upon acquisitions of ownership positions in New PE Holdco 80,000 9,087,000
Corn oil separation capital lease 0 12,122,000
Original discount on senior and convertible debt 0 8,558,000
Debt extinguished with issuance of common stock $ 0 $ 11,475,000