Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
Dec. 31, 2011
Dec. 31, 2010
CURRENT ASSETS    
Cash and cash equivalents $ 676,780 $ 1,096,618
Accounts receivable 2,279 6,428
Inventory 104,782 11,706
Other current assets 327,701 248,711
Total Current Assets 1,111,542 1,363,463
PROPERTY AND EQUIPMENT, NET 11,905,182 8,103,537
INVESTMENT HELD FOR SALE 291,031 292,350
DEFERRED GROWING COST 2,780,871 1,244,419
OTHER NONCURRENT ASSETS 10,814 11,243
TOTAL ASSETS 16,099,440 11,015,012
CURRENT LIABILITIES    
Accounts payable 1,363,217 1,837,788
Accrued payroll and payroll taxes 1,046,763 1,686,465
Deferred revenue 152,732   
Capital lease liability - current portion 56,257 47,139
Notes payable to shareholders 26,000 26,000
Convertible notes payable 193,200 193,200
Total Current Liabilities 2,838,169 3,790,592
LONG-TERM LIABILITIES    
Accrued interest payable 1,684,186 1,154,943
Accrued return on noncontrolling interest 2,907,678 1,452,744
Capital lease liability - long term portion 31,258 98,372
Convertible notes payable 567,000 567,000
Mortgage notes payable 5,110,189 2,793,934
Total Long Term Liabilities 10,300,311 6,066,993
EQUITY (DEFICIT)    
Preferred stock - $0.001 par value; 50,000,000 shares authorized Series B, convertible; 13,000 shares issued (aggregate liquidation preference of $1,300,000) 13 13
Common stock, $0.001 par value; 500,000,000 shares authorized; 285,062,812 and 270,464,478 shares issued and outstanding, respectively 285,062 270,464
Additional paid-in capital 24,260,628 23,580,630
Accumulated deficit (26,662,294) (26,933,430)
Accumulated other comprehensive loss (21,996) (2,195)
Total Global Clean Energy Holdings, Inc. Stockholders' Deficit (2,138,587) (3,084,518)
Noncontrolling interests 5,099,547 4,241,945
Total equity (deficit) 2,960,960 1,157,427
TOTAL LIABILITIES AND EQUITY (DEFICIT) $ 16,099,440 $ 11,015,012