X0304 4/A 2011-12-31 2012-01-04 0 0001337226 NEDAK ETHANOL, LLC NONE 0001397271 BORER TIMOTHY 87590 HILLCREST ROAD PO BOX 391 ATKINSON NE 68713 1 1 0 0 Secretary and Treasurer Class A Preferred Membership Units 2011-12-31 4 J 0 12 800 A 14 D Class B Preferred Membership Units 0 2011-12-31 4 P 0 1 0 A 2011-12-31 2021-12-31 Common Units 12 1 D Class B Preferred Membership Units 0 2011-12-31 4 P 0 3 0 A 2011-12-31 2021-12-31 Common Units 36 4 I By Holt County Grain, LLC Units issued in connection with the conversion of an outstanding payable due to the reporting person by the Company. The Reporting person purchased the Class B Preferred Membership Units pursuant to a private placement conducted by the Company. The purchase price for each Class B Preferred Membership Units was $10,000. Pursuant to the terms of the Fifth Amended and Restated Operating Agreement, as amended, each Class B Preferred Membership Unit is convertible, at the holder's option, into twelve Common Membership Units. If the Class B Preferred Membership Units are not converted prior to the tenth anniversary of the issue date, pursuant to the terms of the Fifth Amended and Restated Operating Agreement, as amended, the Class B Preferred Membership Units shall be redeemed by the Company upon the tenth anniversary of the issue date or the Company may require the conversion of the Class B Preferred Membership Units into Common Membership Units in lieu of such redemption. Assumes conversion of the Class B Preferred Membership Units into Common Units at the twelve to one conversion rate. Reporting person owns 2.6% of Holt County Grain, LLC and controls another entity which owns 1.3% of Holt County Grain, LLC. Holt County Grain, LLC owns 770 Class B Preferred Membership Units, meaning the reporting person indirectly owns 3 Class B Preferred Membership Units. This Form 4/A is being filed to reflect the convertible feature of the Class B Preferred Membership Units as a derivative security. /s/ David E. Gardels, Attorneey-in-Fact 2012-02-16