Concentrations

2010 10-K
One customer balance represents 43% of accounts receivable; one customer's revenue represented 34% of total revenue, while three other customers' combined revenue represented 52% of total revenue.
2011 10-K
One customer balance represents 36% of accounts receivable; one customer's revenue represented 37% of total revenue.
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The information above is under "CONCENTRATIONS" in the 10Ks.  It is at least interesting and if one figures that the one customer concerning revenues is GPRE - then it may even be useful. 

(Interesting AND useful, reminds me again of that girl who sat in front of me in High School chemistry . . . but I digress.)

You can deduct a few things from this if you figure that GPRE's COES produce at an average rate among current GreenShift's customers.  [The sale to YAGI of the first generation COES may edge this assumption towards the true category.]   Lets look at on-line production.  From the 10K we learn we ". . .have more than 2.3 BGY of ethanol production today with our licensees at full [ethanol] production."

Now GPRE has 740mmgy capacity of ethanol production - or about 32% of the 2.3Bgy total. 

But SkunK - the GPRE revenues are 37%? 

That is why the SkunK thinks that about 300mmgy of ethanol production [or its equivalent] with GreenShift COES Licenses - are not up and running yet. 

740mmgy is exactly 37% of 2Bgy.
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SkunK

Now you can go and do a lot of things concerning production estimates with the 37% once you know the public figures from GPRE. In fact the number held consistent to within a few % points (34%-37%) over the last year. Oh, wait we already know GPRE's numbers - but that goes without saying.

Bonus for the Non-Skimmers

10-K 2010, 2011
For the purposes of assessing royalties, the sale of corn oil is deemed to occur when shipped, . .
{"shipment to the buyer of the corn oil".}

10-K GPRE 2011
For sales of ethanol, corn oil and distillers grains, we recognize revenue when title to the product and risk of loss transfer to an external customer.

Marketing and Distribution. Our in-house marketing business is responsible for the sales, marketing and distribution of all ethanol, distillers grains and corn oil produced at our nine ethanol plants. We also market and distribute ethanol for third-party ethanol producers. Production capacity of these third-party producers is approximately 260 mmgy. Additionally, we own and operate nine blending or terminaling facilities with approximately 625 mmgy of total throughput capacity in seven south central U.S. states.