3Q! Profit, Sweeeeeet Profit

Plan of Operations
Our business continues to improve. We won significant new business during 2011, increasing licensed penetration to more than 15% of the industry and more than doubling the amount of production licensed to use our extraction technologies from 1.0 billion gallons per year (“BGY”) at the end of 2010 to more than 2.0 BGY of ethanol production today.

We were awarded contracts to design, build and install extraction systems for our licensees after extensive due diligence and third party review, including a state of the art new corn oil recovery facility for Sunoco, Inc. We received two new patents during 2011 that we believe substantially strengthen our issued patents and ability to protect the competitive advantage of our licensees. We expanded our technology portfolio by filing new patent applications and pressing forward with new technologies [interesting, but is it Method II? Or III? or "event-driven systems integration" - what?] designed to further enhance the profitability of our licensees. We reduced our debt to YA Global and its affiliates by about $7 million to about $26 million, down about 21% from the balance due at the start of 2011. We produced about $2.1 million in operating income during the nine months ended September 30, 2011 (excluding the impact of one-time performance bonuses), up from the $4.3 million in operating losses incurred during the first three quarters of 2010. And, we generated about $150,000 in net income during the third quarter of 2011 [Note: net income from just corn oil was $150,000 for 3Q] excluding about $2.5 million in non-recurring other income resulting from our reduction and elimination of liabilities during the quarter.

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In addition, future results may be improved by the impact of event-driven systems integration contracts as we have recently experienced a significant increase in interest for our engineering and other services in connection with the design, construction, integration and modification of corn oil extraction systems and other new systems for existing and prospective licensees. [What is event-driven systems integration?  It is used three times in the 3Q - twice in the 2Q - should we associate it with the "new technologies" discussed above???] 

SkunK
 
So much here in this 3Q I will take a chunk at a time.  My comments until further notice will be tru-blue and bold.  I just checked pacer, no litigation update.

I cannot find the post, but if memory serves, Slash predicted like $6M in revs on one of the boards?  If he did - congrats.