Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
 9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash Flows From Operating Activities    
Net Loss $ (1,537,036) $ (1,735,166)
Adjustments to reconcile net loss to net cash used in operating activities:    
Foreign currency transaction gain (39,613) (17,622)
Gain on settlement of liabilities   (600,802)
Share-based compensation 69,858 95,642
Depreciation 201,419 172,838
Changes in operating assets and liabilities:    
Accounts receivable (23,490) 118,360
Inventory (55,781) (157,231)
Other current assets (352,003) (50,117)
Deferred growing costs (1,459,705) (902,984)
Accounts payable and accrued expenses 501,093 635,454
Deferred revenue 208,329  
Other noncurrent assets 9,497  
Net Cash Used in Operating Activities (2,477,432) (2,441,628)
Cash Flows From Investing Activities    
Purchase of land (178,459) (715,658)
Plantation development costs (2,127,735) (609,260)
Purchase of property and equipment (221,258) (183,011)
Net Cash Used in Investing Activities (2,527,452) (1,507,929)
Cash Flows From Financing Activities    
Proceeds from issuance of common stock for cash 500,000 500,000
Proceeds from exercise of warrants 56,700  
Proceeds from issuance of preferred membership in GCE Mexico I, LLC 4,780,156 2,817,722
Proceeds from notes payable 562,685 742,652
Payments on capital leases (34,505) (478,726)
Proceeds from convertible notes payable   567,000
Net Cash Provided by Financing Activities 5,865,036 4,148,648
Effect of exchange rate changes on cash (212,781) 53,649
Net Increase in Cash and Cash Equivalents 647,371 252,740
Cash and Cash Equivalents at Beginning of Period 1,096,618 833,584
Cash and Cash Equivalents at End of Period 1,743,989 1,086,324
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 56,755 157,581
Cashless exercise of Warrants   8,545
Accrual of return on noncontrolling interest 1,044,264 588,941
Plantation costs financed by accounts payable   32,497
Shares issued for services $ 13,125