Quarterly report pursuant to Section 13 or 15(d)

GLOBAL CLEAN ENERGY HOLDINGS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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GLOBAL CLEAN ENERGY HOLDINGS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash Flows From Operating Activities    
Net loss $ (1,137,807) $ (1,040,193)
Adjustments to reconcile net loss to net cash used in operating activities:    
Foreign currency transaction gain   68,390
Gain on settlement of liabilities   (600,802)
Share-based compensation 78,855 60,333
Depreciation 135,155 112,116
Changes in operating assets and liabilities:    
Accounts receivable (739) 94,009
Inventory (71,756) (99,259)
Other current assets (126,540) 10,891
Deferred growing costs (1,006,558) (561,246)
Accounts payable and accrued expenses 366,607 370,484
Net Cash Used in Operating Activities (1,762,783) (1,585,278)
Cash Flows From Investing Activities    
Purchase of land (18,900) (715,658)
Plantation development costs (1,257,514) (334,274)
Purchase of property and equipment (221,136) (131,603)
Net Cash Used in Investing Activities (1,497,550) (1,181,535)
Cash Flows From Financing Activities    
Proceeds from issuance of common stock for cash   500,000
Proceeds from exercise of warrants 56,700  
Proceeds from issuance of preferred membership in GCE Mexico I, LLC 3,239,742 1,700,382
Proceeds from notes payable   742,652
Payments on notes payable (22,449) (478,043)
Proceeds from convertible notes payable   567,000
Net Cash Provided by Financing Activities 3,273,993 3,031,991
Effect of exchange rate changes on cash 25,155 (4,827)
Net Increase in Cash and Cash Equivalents 38,815 260,351
Cash and Cash Equivalents at Beginning of Period 1,096,618 833,584
Cash and Cash Equivalents at End of Period 1,135,433 1,093,935
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 42,055 92,254
Cashless exercise of warrants   8,545
Accrual of return on noncontrolling interest 654,706 367,906
Plantation costs financed by accounts payable   32,497
Shares issued for services $ 13,125