ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2013

Business Combinations [Abstract]

Total purchase price and the estimated fair values of the assets and liabilities acquired

The total purchase price and the estimated fair values of the assets and liabilities at the acquisition date were as follows:

	Purchase Price
Net cash	$	168,156
Seller promissory note	200,000
Seller note for inventory	299,645
Estimated fair value of contingent consideration	117,017
	$	784,818

	Fair Value Allocation
Current assets	$	305,645
Land	8,065
Property, plant and equipment	452,084
Other assets	24,640
Current liabilities	(5,616		)
	$	784,818

Pro forma information

The Company’s consolidated financial statements for the years ended December 31, 2013, 2012 and 2011 include the results of operations of the Toledo refinery since March 1, 2011. The actual results for the Toledo refinery for the period from March 1, 2011 to December 31, 2011, are shown below. The revenues and net income of the Company assuming the acquisition had occurred on January 1, 2011, are shown below on a pro forma basis. The pro forma information does not purport to present what the Company’s actual results would have been had the acquisition occurred on January 1, 2011, nor is the financial information indicative of the results of future operations. The unaudited pro forma financial information includes the depreciation and amortization expense related to the acquisition and interest expense associated with the Toledo acquisition financing.

	Revenues		Net Income
Actual results for March 1, 2011 to December 31, 2011	$	6,113,055	$	489,243
Supplemental pro forma for January 1, 2011 to December 31, 2011	$	15,961,529	$	328,142