Subsequent Events

3 Months Ended

Jun. 30, 2011

Subsequent Events

Subsequent Events [Text Block]

NOTE 15 SUBSEQUENT EVENTS

On July 22, 2011, the Company announced its intention to complete a 1 for 1,000 reverse stock split. All stock prices, share amounts, per share information, stock options and stock warrants in this report do not reflect the impact of the reverse stock split, as the reverse split is not expected to become effective until the latter half of the third quarter of 2011. Every thousand shares of issued and outstanding Company common stock will be automatically combined into one issued and outstanding share of common stock, without any change in the par value per share. The reverse split will reduce the number of outstanding shares of common stock from about 14 billion to about 14 million.

On July 22, 2011, the U.S. Patent and Trademark Office (“USPTO”) issued a notice of allowance for Company patent application number 11/241,231, titled “Method of Processing Ethanol Byproducts and Related Subsystems” (the “’231 Patent Application”). The USPTO issued the new notice of allowance for the ‘231 Patent Application after reviewing all of the alleged prior art, arguments and other materials of all of the defendants in the Company’s pending litigation for infringement of the Company’s patented corn oil extraction processes. The Company consequently believes that the allowance of the '231 Patent Application by the USPTO significantly increases the strength of the Company’s legal position and provides further substantial confirmation of the validity of the Company’s patents.