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v2.3.0.11
INVENTORIES
6 Months Ended
Jun. 30, 2011
Inventory Disclosure [Text Block]

NOTE 4 - INVENTORIES


Inventory is stated at the lower of cost or market. The cost is determined using the first-in first-out method. Costs of finished goods inventory include costs associated with the procurement and transportation of Soybean oil and other raw materials used in the manufacture of G2 Diesel.


As of June 30, 2011 and December 31, 2010, inventories are comprised of the following:


 

 

 

 

 

 

 

 

 

 

June 30,
2011

 

December 31,
2010

 

 

 

(unaudited)

 

 

 

 

 


 


 

Raw materials

 

$

351,874

 

$

351,874

 

Finished fuel

 

 

118,075

 

 

272,865

 









Total

 

$

469,949

 

$

624,739