Sooner 10-Q 7 Nov 13 2013 Q3 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
	Sep. 30, 2013	Nov. 01, 2013
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-13	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'
Entity Registrant Name	'SYNTROLEUM CORP	'
Entity Central Index Key	'0001029023	'
Entity Filer Category	'Accelerated Filer	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	'	9,966,117

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
CURRENT ASSETS:	'	'
Cash and cash equivalents	$16,544,000	$15,909,000
Restricted cash	'	725,000
Accounts receivable	88,000	134,000
Taxes receivable	697,000	'
Accounts receivable from Dynamic Fuels, LLC	6,000	252,000
Other current assets	71,000	237,000
Total current assets	17,406,000	17,257,000
PROPERTY AND EQUIPMENT - at cost, net	84,000	58,000
INVESTMENT IN AND LOANS TO DYNAMIC FUELS, LLC	40,365,000	38,407,000
OTHER ASSETS, net	1,069,000	1,023,000
Total Assets	58,924,000	56,745,000
CURRENT LIABILITIES:	'	'
Accounts payable	703,000	312,000
Accrued employee costs	593,000	71,000
Deposits	'	725,000
Total current liabilities	1,296,000	1,108,000
NONCURRENT LIABILITIES OF DISCONTINUED OPERATIONS	'	603,000
DEFERRED REVENUE	14,023,000	15,612,000
COMMITMENTS AND CONTINGENCIES	'	'
STOCKHOLDERS' EQUITY:	'	'
Preferred stock, $0.01 par value, 5,000 shares authorized, no shares issued	'	'
Common stock, $0.01 par value, 150,000 shares authorized, 9,936 and 9,829 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively	99,000	98,000
Additional paid-in capital	400,230,000	399,788,000
Accumulated deficit	-356,724,000	-360,464,000
Total stockholders' equity	43,605,000	39,422,000
Total Liabilities and Stockholders' Equity	$58,924,000	$56,745,000

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Consolidated Balance Sheets [Abstract]	'	'
Preferred stock, par value	$0.01	$0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	9,936,000	9,829,000
Common stock, shares outstanding	9,936,000	9,829,000

Consolidated_Statements_Of_Ope

Consolidated Statements Of Operations (USD $)	3 Months Ended		9 Months Ended
Share data in Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
REVENUES:	'	'	'	'
Technology	'	$3,150,000	$100,000	$9,450,000
Technical services	349,000	516,000	1,111,000	1,470,000
Technical services from Dynamic Fuels, LLC	24,000	372,000	469,000	4,803,000
Royalties from Dynamic Fuels, LLC plant production	'	304,000	0	679,000
Total revenues	373,000	4,342,000	1,680,000	16,402,000
COSTS AND EXPENSES:	'	'	'	'
Engineering	601,000	710,000	1,720,000	1,900,000
Depreciation and amortization	44,000	42,000	131,000	143,000
General, administrative and other (including non-cash equity compensation of $30 and $61 for the three months ended September 30, 2013 and 2012, respectively, and $443 and $476 for the nine months ended September 30, 2013 and 2012, respectively.)	2,211,000	1,553,000	6,040,000	4,345,000
OPERATING INCOME (LOSS)	-2,483,000	2,037,000	-6,211,000	10,014,000
INTEREST INCOME	2,000	4,000	7,000	18,000
EQUITY IN EARNINGS (LOSS) OF DYNAMIC FUELS, LLC	-3,252,000	-2,752,000	1,957,000	-5,737,000
OTHER INCOME	1,000	1,000	7,000	5,000
FOREIGN CURRENCY EXCHANGE	-267,000	-327,000	1,589,000	-304,000
INCOME (LOSS) FROM CONTINUING OPERATIONS	-5,999,000	-1,037,000	-2,651,000	3,996,000
INCOME (LOSS) FROM DISCONTINUED OPERATIONS	'	-9,000	6,391,000	-28,000
NET INCOME (LOSS)	($5,999,000)	($1,046,000)	$3,740,000	$3,968,000
BASIC NET INCOME (LOSS) PER SHARE:	'	'	'	'
Net income (loss) from continuing operations	($0.60)	($0.11)	($0.26)	$0.41
Income from discontinued operations	'	'	$0.64	'
Net income (loss)	($0.60)	($0.11)	$0.38	$0.41
DILUTED NET INCOME PER SHARE:	'	'	'	'
Net income (loss) from continuing operations	($0.60)	($0.11)	($0.26)	$0.40
Income from discontinued operations	'	'	$0.64	'
Net income (loss)	($0.60)	($0.11)	$0.38	$0.40
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:	'	'	'	'
Basic	9,936	9,825	9,928	9,838
Diluted	9,936	9,825	9,928	9,949

Consolidated_Statements_Of_Ope1

Consolidated Statements Of Operations (Parenthetical) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Consolidated Statements Of Operations [Abstract]	'	'	'	'
General, administrative and other, non-cash equity compensation	$30	$61	$443	$476

Consolidated_Statements_Of_Sto

Consolidated Statements Of Stockholders' Equity (USD $)	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Total
In Thousands, except Share data
Balance, in value at Dec. 31, 2012	$98	$399,788	($360,464)	$39,422
Balance, in shares at Dec. 31, 2012	9,829	'	'	'
Stock options exercised, in shares	'	'	'	'
Vesting of awards granted, in value	1	349	'	350
Vesting of awards granted, in shares	88	'	'	'
Match to 401(k) Plan, in value	'	93	'	93
Match to 401(k) Plan, in shares	19	'	'	'
Net income	'	'	3,740	3,740
Balance, in value at Sep. 30, 2013	$99	$400,230	($356,724)	$43,605
Balance, in shares at Sep. 30, 2013	9,936	'	'	'

Consolidated_Statements_Of_Cas

Consolidated Statements Of Cash Flows (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net income	$3,740,000	$3,968,000
Income (Loss) from discontinued operations	6,391,000	-28,000
Income (loss) from continuing operations	-2,651,000	3,996,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:	'	'
Depreciation and amortization	131,000	143,000
Foreign currency exchange	-1,589,000	304,000
Non-cash compensation expense	443,000	476,000
Non-cash (income) loss in equity method investee	-1,957,000	5,737,000
Non-cash technical services revenue from Dynamic Fuels, LLC	'	-3,714,000
Changes in assets and liabilities:	'	'
Accounts receivable	46,000	-86,000
Accounts receivable from Dynamic Fuels, LLC	246,000	-509,000
Other assets	13,000	208,000
Accounts payable	391,000	141,000
Accrued employee costs	522,000	457,000
Deferred revenue	'	-9,000,000
Net cash used in continuing operations	-4,405,000	-1,847,000
Net cash used in discontinued operations	-10,000	-28,000
Net cash used in operating activities	-4,415,000	-1,875,000
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Purchase of property and equipment	-50,000	-11,000
Investment in and loans to Dynamic Fuels, LLC	-698,000	-3,000,000
Net cash used in continuing operations	-748,000	-3,011,000
Net cash provided by discontinued operations	5,798,000	'
Net cash provided by (used in) investing activities	5,050,000	-3,011,000
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Proceeds from restricted stock exercises	0	63,000
Purchase and retirement of restricted stock	'	-199,000
Net cash used in financing activities	'	-136,000
NET CHANGE IN CASH AND CASH EQUIVALENTS	635,000	-5,022,000
CASH AND CASH EQUIVALENTS, beginning of period	15,909,000	22,601,000
CASH AND CASH EQUIVALENTS, end of period	16,544,000	17,579,000
NON-CASH INVESTING ACTIVITIES	'	'
Common stock warrants	'	166,000
Accounts receivable reduction in Dynamic Fuels LLC working capital loan	697,000	'
Investment in and loans to Dynamic Fuels, LLC	'	$2,896,000

Basis_Of_Reporting

Basis Of Reporting	9 Months Ended
	Sep. 30, 2013
Basis Of Reporting [Abstract]	'
Basis Of Reporting	'
	1.Basis of Reporting
	Our focus is the commercialization of our Technologies to produce synthetic liquid hydrocarbons.  Operations to date have consisted of activities related to the commercialization of our renewable fuels technology and previously consisted of research and development designed to convert carbonaceous material (biomass, coal, natural gas and petroleum coke) into synthetic liquid hydrocarbons including such products as diesel, jet fuel,  kerosene, naphtha and propane.
	Specifically, Bio-Synfining® Technology is a renewable fuels application of our Synfining® Technology.  This technology is applied commercially via our Dynamic Fuels, LLC joint venture with Tyson Foods, Inc. (“Tyson”).  The technology processes renewable feedstocks such as triglycerides and/or fatty acids to make renewable synthetic products.
	The consolidated financial statements include the accounts of Syntroleum Corporation and our majority-owned subsidiaries (“the Company”).  All significant inter-company accounts and transactions have been eliminated.  Companies in which we own a 20 percent to 50 percent interest, but in which we do not have a controlling interest are accounted for by the equity method.  We own 50 percent and have a non-controlling interest in Dynamic Fuels, LLC (“Dynamic Fuels”). The entity is accounted for under the equity method and is not required to be consolidated in our financial statements; however, our share of the Dynamic Fuels results of operations is reflected in the Consolidated Statements of Operations and the subsidiary’s summarized financial information is reported in Note 4, “Investment in and Loans to Dynamic Fuels, LLC”.  The carrying value of our investment in Dynamic Fuels is reflected in “Investment in and Loans to Dynamic Fuels, LLC” in our Consolidated Balance Sheets.
	The consolidated financial statements included in this report have been prepared by the Company without audit, pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC").  Accordingly, these statements reflect all adjustments (consisting of normal recurring entries), which are, in the opinion of management, necessary for a fair statement of the financial results for the interim periods presented. These consolidated financial statements should be read together with the consolidated financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2012 filed with the SEC under the Securities Exchange Act of 1934.
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Our financial position and results of operations are materially affected by Dynamic Fuels’ financial position and results of operations as of and for the nine months ended June 30, 2013.
	The consolidated financial statements for all prior periods have been retroactively adjusted to reflect the April 11, 2013 one-for-ten reverse stock split of the Company’s common stock which allowed the Company to regain compliance with Nasdaq’s minimum price Marketplace Rule as of April 26, 2013.   As a result of the reverse split, each ten (10) outstanding shares of pre-split common stock were automatically combined into one (1) share of post-split common stock.  Fractional shares received cash and proportional adjustments were made to the Company’s outstanding stock options and other equity awards and to the Company’s equity compensation plans to reflect the reverse stock split.  The consolidated financial statements for all prior periods have been retroactively adjusted to reflect this stock split for both common stocks issued and options outstanding.

Operations_And_Liquidity

Operations And Liquidity	9 Months Ended
	Sep. 30, 2013
Operations And Liquidity [Abstract]	'
Operations And Liquidity	'
	2.Operations and Liquidity
	We have sustained recurring losses and negative cash flows from operations. Our activities have historically been funded through a combination of equity and convertible debt financings and the sale of certain assets. As of September 30, 2013, we had approximately $16.5 million of cash and cash equivalents available to fund operations and investing activities. We review cash flow forecasts and budgets periodically.
	We expect that we will need to raise substantial additional capital to accomplish our business plan over the next several years. We expect to obtain additional funding through debt or equity financing in the capital markets, joint ventures, license agreements, sale of assets, sale of the Company or other strategic alliances, as well as various other financing arrangements, or a combination thereof. If we obtain additional funds by issuing equity securities, dilution to stockholders may occur. In addition, preferred stock could be issued in the future without stockholder approval, and the terms of our preferred stock could include dividend, liquidation, conversion, voting and other rights that are more favorable than the rights of the holders of our common stock. There can be no assurance as to the availability or terms upon which such financing and capital might be available.
	We are actively engaged in generating revenue through the license of our technology.
	We are currently exploring alternatives for raising capital to commercialize the growth of our businesses, including the formation of joint ventures and other strategic alliances. If adequate funds are not available, or if we are not successful in establishing a strategic alliance, we may be required to seek to enter into a business combination transaction with or sell assets to another company. We could also be forced to license to third parties the rights to commercialize additional products or technologies that we would otherwise seek to develop ourselves.

Restricted_Cash

Restricted Cash	9 Months Ended
	Sep. 30, 2013
Restricted Cash [Abstract]	'
Restricted Cash	'
	3.      Restricted Cash
	Restricted cash at December 31, 2012, consisted of cash held in an escrow account for the prepayment of operations and invoices for an ongoing contractual project and was also recorded as a current liability as “Deposits” on the Consolidated Balance Sheet. During the second quarter of 2013 this project was completed and the escrow account was closed.

Investment_In_And_Loans_To_Dyn

Investment In And Loans To Dynamic Fuels	9 Months Ended
	Sep. 30, 2013
Investment In And Loans To Dynamic Fuels [Abstract]	'
Investment In And Loans To Dynamic Fuels	'
	4.Investment in and Loans to Dynamic Fuels, LLC
	Dynamic Fuels began commercial operations in November of 2010.  Dynamic Fuels is organized and operated pursuant to the provisions of its Limited Liability Company Agreement between the Company and Tyson (the “LLC Agreement”). The LLC Agreement provides for management and control of Dynamic Fuels to be exercised jointly by representatives of the Company and Tyson (“Dynamic Fuels Management Committee”) equally with no LLC member exercising control.  We account for Dynamic Fuels under the equity method of accounting with our share of the Dynamic Fuels net income or loss reflected in the Consolidated Statements of Operations.  Under the equity method, losses from our investment in Dynamic Fuels are limited to the carrying value of our investment in and loans to Dynamic Fuels plus any outstanding receivables which were approximately $40.4 million and $6,000, respectively at September 30, 2013.  The carrying value of our investment in Dynamic Fuels exceeds the amount of underlying equity in net assets of Dynamic Fuels by approximately $7,700,000, related to warrants issued to Tyson. The Warrants are being amortized over the remaining life of the bonds which expire in 2033. Dynamic Fuels has a different fiscal year than us. The Dynamic Fuels fiscal year ends on September 30 and we report our share of Dynamic Fuels results of operations on a three month lag in accordance with ASC 323-10-35.
	On January 3, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012 (the “Act”), which reinstated tax credits of $1.00 per gallon for the production of renewable diesel and $.50 per gallon for the production of qualified alternative fuels. The Act applies to 2013 production, but also retroactively reinstates the credits for 2012. Because of specific provisions in the Act, we filed for approximately $9.7 million of our portion of the credits directly with the Internal Revenue Service. As of September 30, 2013, $9.0 million was received with the remaining $697,000 reflected as a tax receivable on our consolidated balance sheet.   The total $9.7 million was recorded as a repayment of working capital loans in the accompanying consolidated financial statements.   These amounts are included in our carrying value in Dynamic Fuels and are reflected in “Investment in and Loans to Dynamic Fuels, LLC” in our Consolidated Balance Sheets.
	The plant has sold 66.8 million gallons of renewable products such as diesel, naphtha, and propane from December 2010 to December 2012.  Nameplate capacity for the plant is 75.0 million gallons per year.  Since the start of commercial operations, the plant has experienced adulterants in the feedstock, hydrogen disruptions and rotating equipment issues which have contributed to plant downtime and higher than expected operating costs.   Upgrades to the feedstock pre-treatment area were completed during 2012.
	Planned turnaround operations commenced on October 25, 2012 and were completed on December 10, 2012 at which time the plant was placed in standby mode as Dynamic Fuels monitored economic conditions to determine the appropriate time to resume operations.  While the plant is ready for commercial operation, the Dynamic Fuels Management Committee has not determined a re-start date.
	Primarily as a result of the extended period the Plant has been in standby mode, Dynamic Fuels determined that the carrying amount of the Plant may not be recoverable.  As such, recoverability was assessed using a probability weighted undiscounted cash flow model based on historical results and current projections.  Based on this assessment, it was determined that the carrying value was recoverable and no impairment was recognized.  However, if the Plant is not restarted, the Plant upgrades fail to improve operational performance, or should industry economics make the plant uneconomical to operate, Dynamic Fuels may be required to reassess recoverability and recognize an impairment loss on the Plant.
	In addition, accounting standards for equity method investments requires Syntroleum to consider all factors that may indicate that the value of our investment in Dynamic Fuels is less than the amount reported in our consolidated balance sheet.  If such a value deficiency has occurred and is other than temporary, it must be recognized currently. Our management has considered Dynamic Fuel’s financial condition, current status and outlook and has concluded that a current valuation deficiency does not exist.
	Dynamic Fuels, LLC Financials (in thousands):
	Balance Sheet	30-Jun-13		30-Sep-12
			(Unaudited)
	Cash and Current Assets	$	9,615	$	9,337
	Inventory		3,233		17,509
	Property, Plant and Equipment and Other Assets		154,965		150,258
	Total Assets	$	167,813	$	177,104
	Accounts Payable	$	1,404	$	10,241
	Notes and Accounts Payable to Related Parties		18,982		29,976
	Long-Term Liabilities		100,058		100,051
	Total Liabilities		120,444		140,268
	Total Members’ Equity		47,369		36,836
	Total Liabilities and Members’ Equity	$	167,813	$	177,104
		For the Quarter Ended June 30, 2013		For the Nine Months Ended June 30, 2013
	Revenue	$	120	$	46,839
	Cost of Goods Sold, Operating Expenses and General and Administrative		5,992		41,909
	Income (Loss) from Operations		-5,872		4,930
	Other Expense		-455		-1,296
	Net Income (Loss)	$	-6,327	$	3,634
	During the nine months ended September 30, 2013 and 2012, we recognized technical service revenue with Dynamic Fuels in the amount of $469,000 and $4,803,000 respectively and royalties from plant production of $0 and $679,000, respectively.  This revenue is reported in “Technical services from Dynamic Fuels, LLC” and “Royalties from Dynamic Fuels, LLC Plant Production” in the Consolidated Statements of Operations.

Earnings_Per_Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Earnings Per Share	'
	5.Earnings Per Share
	The consolidated financial statements for all prior periods have been retroactively adjusted to reflect the April 11, 2013 one-for-ten reverse stock split of the Company’s common stock.
		Three months ended September 30,				Nine months ended                      September 30,
			2013		2012		2013		2012
		(Dollars in thousands, except per share amounts; shares in thousands)				(Dollars in thousands, except per share amounts; shares in thousands
	Income (loss) from continuing operations available to common stockholders for basic and diluted earnings per share	$	-5,999	$	-1,037	$	-2,651	$	3,996
	Basic weighted-average shares		9,936		9,825		9,928		9,838
	Effect of dilutive securities:
	Stock options		-		-		-		111
	Dilutive weighted-average shares		9,936		9,825		9,928		9,949
	Earnings (loss) per common share from continuing operations:
	Basic	$	-0.6	$	-0.11	$	-0.26	$	0.41
	Diluted	$	-0.6	$	-0.11	$	-0.26	$	0.40
	The table below includes information related to stock options, warrants and restricted stock that were outstanding at September 30 of each respective year but have been excluded from the computation of weighted-average stock options due to the option exercise price exceeding the quarter weighted-average market price of our common shares as their inclusion would have been anti-dilutive to our income (loss) per share.
		September 30,        2013		September 30,        2012
	Options, warrants and restricted stock excluded (in thousands)		2,388		2,076
	Weighted-average exercise prices of options, warrants and restricted stock excluded	$	29.96	$	29.30
	Nine- month average market price	$	5.40	$	8.70

StockBased_Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2013
Stock-Based Compensation [Abstract]	'
Stock-Based Compensation	'
	6.Stock-Based Compensation
	Our share-based incentive plans permit us to grant restricted stock units, restricted stock, incentive or non-qualified stock options, and certain other instruments to employees, directors, consultants and advisors of the Company.   The exercise price of options granted under the plan must be at least equal to the fair value of our common stock on the date of grant. All options granted vest at a rate determined by the Nominating and Compensation Committee of our Board of Directors and are exercisable for varying periods, not to exceed ten years.  Shares issued under the plans upon option exercise or stock unit conversion are generally issued from authorized, but previously unissued shares.
	On April 11, 2013, the Company implemented a one-for-ten reverse stock split of its common stock.  As a result of the reverse stock split, each ten (10) outstanding shares of pre-split common stock, stock options and other equity awards were automatically combined into one (1) share of post-split common stock.  Fractional shares received cash.  The consolidated financial statements for all prior periods have been retroactively adjusted to reflect this reverse stock split.
	As of September 30, 2013, 533,497 shares of common stock were available for grant under our current plan.  We are authorized to issue up to 1,133,637 plan equivalent shares of common stock in relation to stock options or restricted shares outstanding or available for grant under the plans.
	Stock Options
	The number and weighted average exercise price of stock options outstanding are as follows:
			Shares Under Stock Options		Weighted Average Price Per Share
	OUTSTANDING AT DECEMBER 31, 2012		640,454		$	18.70
	Granted at market price		-			-
	Exercised		-			-
	Expired, forfeited, cancelled or repurchased		-40,314			17.55
	OUTSTANDING AT SEPTEMBER 30, 2013		600,140		$	18.79
	The following table summarizes information about stock options outstanding at September 30, 2013:
	Options Outstanding										Options Exercisable
	Range of Exercise Price						Options Outstanding	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Options Exercisable	Weighted Average Exercise Price Per Share
	$	6.60	-	$	6.60		451,923	$	6.60	4.86	451,923	$	6.60
	$	14.10	-	$	14.10		5,000		14.10	7.83	5,000		14.10
	$	28.90	-	$	28.90		50,625		28.90	3.19	50,625		28.90
	$	31.90	-	$	68.80		67,523		64.69	1.08	67,523		64.69
	$	80.30	-	$	96.70		22,569		94.29	2.13	22,569		94.29
	$	105.10	-	$	105.10		2,500		105.10	1.84	2,500		105.10
							600,140	$	18.79		600,140	$	18.79
	A total of 600,140 stock options with a weighted average exercise price of $18.79 were outstanding and fully vested at September 30, 2013. There were no stock options granted during the nine months ended September 30, 2013 or 2012.
	The total intrinsic value of options exercised (i.e., the difference between the market price on the exercise date and the price paid by the employee to exercise the options) during the nine months ended September 30, 2013 and 2012 was $0 and $36,000, respectively.   The total amount of cash received in 2013 and 2012 by the Company from the exercise of these options was $0 and $63,000, respectively.   As of September 30, 2013 the intrinisic value of fully vested stock options was $0. The remaining weighted average contractual term for options exercisable is approximately 4.42 years.  As of September 30, 2013, all stock options have vested and all related compensation costs have been recognized.
	Non-cash compensation cost related to stock and stock options and restricted stock recognized during the nine months ended September 30, 2013 and 2012 was $443,000 and $476,000, respectively.
	Restricted Stock
	We may grant common stock and restricted common stock units to employees.  These awards are recorded at their fair value on the date of grant and compensation cost is recorded using graded vesting over the expected term.  The weighted average grant date fair value of common stock and restricted stock units granted during the nine months ended September 30, 2013 and 2012 was $4.00 (total grant date fair value of $350,000) and $9.60 (total grant date fair value of $350,000), respectively.  As of September 30, 2013 all restricted stock units had vested.  The total fair value of restricted stock units vested during the nine months  ended September 30, 2013 and 2012 was $350,000 and relate to independent director shares in lieu of cash.   The following summary reflects restricted stock unit activity and related information.
			Shares / Units		Weighted-Average Grant Date Fair Value
	NONVESTED AT DECEMBER, 31, 2012		-		$	-
	Granted		87,500			4.00
	Vested or Exercised		-87,500			4.00
	Expired or forfeited		-			-
	NONVESTED AT SEPTEMBER 30, 2013		-		$	-

Commitments_And_Contingencies

Commitments And Contingencies	9 Months Ended
	Sep. 30, 2013
Commitments And Contingencies [Abstract]	'
Commitments And Contingencies	'
	7.Commitments and Contingencies
	We have entered into employment agreements, which provide severance benefits to several key employees.  Commitments under these agreements totaled approximately $2,088,000 at September  30, 2013.  Expense is not recognized until an employee is severed.

Investment_In_And_Loans_To_Dyn1

Investment In And Loans To Dynamic Fuels (Tables)	9 Months Ended
	Sep. 30, 2013
Investment In And Loans To Dynamic Fuels [Abstract]	'
Schedule Of Equity Method Investments, Balance Sheet	'
	Balance Sheet	30-Jun-13		30-Sep-12
			(Unaudited)
	Cash and Current Assets	$	9,615	$	9,337
	Inventory		3,233		17,509
	Property, Plant and Equipment and Other Assets		154,965		150,258
	Total Assets	$	167,813	$	177,104
	Accounts Payable	$	1,404	$	10,241
	Notes and Accounts Payable to Related Parties		18,982		29,976
	Long-Term Liabilities		100,058		100,051
	Total Liabilities		120,444		140,268
	Total Members’ Equity		47,369		36,836
	Total Liabilities and Members’ Equity	$	167,813	$	177,104
Schedule Of Equity Method Investments, Statement Of Operations	'
		For the Quarter Ended June 30, 2013		For the Nine Months Ended June 30, 2013
	Revenue	$	120	$	46,839
	Cost of Goods Sold, Operating Expenses and General and Administrative		5,992		41,909
	Income (Loss) from Operations		-5,872		4,930
	Other Expense		-455		-1,296
	Net Income (Loss)	$	-6,327	$	3,634

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Schedule Of Weighted Average Number Of Shares	'
		Three months ended September 30,				Nine months ended                      September 30,
			2013		2012		2013		2012
		(Dollars in thousands, except per share amounts; shares in thousands)				(Dollars in thousands, except per share amounts; shares in thousands
	Income (loss) from continuing operations available to common stockholders for basic and diluted earnings per share	$	-5,999	$	-1,037	$	-2,651	$	3,996
	Basic weighted-average shares		9,936		9,825		9,928		9,838
	Effect of dilutive securities:
	Stock options		-		-		-		111
	Dilutive weighted-average shares		9,936		9,825		9,928		9,949
	Earnings (loss) per common share from continuing operations:
	Basic	$	-0.6	$	-0.11	$	-0.26	$	0.41
	Diluted	$	-0.6	$	-0.11	$	-0.26	$	0.40
Schedule Of Anti-dilutive Securities Excluded From Computation Of Earnings Per Share	'
		September 30,        2013		September 30,        2012
	Options, warrants and restricted stock excluded (in thousands)		2,388		2,076
	Weighted-average exercise prices of options, warrants and restricted stock excluded	$	29.96	$	29.30
	Nine- month average market price	$	5.40	$	8.70

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2013
Stock-Based Compensation [Abstract]	'
Number And Weighted Average Exercise Price Of Stock Options Outstanding	'
			Shares Under Stock Options		Weighted Average Price Per Share
	OUTSTANDING AT DECEMBER 31, 2012		640,454		$	18.70
	Granted at market price		-			-
	Exercised		-			-
	Expired, forfeited, cancelled or repurchased		-40,314			17.55
	OUTSTANDING AT SEPTEMBER 30, 2013		600,140		$	18.79
Summary Of Stock Options Outstanding By Exercise Price Range	'
	Options Outstanding										Options Exercisable
	Range of Exercise Price						Options Outstanding	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Options Exercisable	Weighted Average Exercise Price Per Share
	$	6.60	-	$	6.60		451,923	$	6.60	4.86	451,923	$	6.60
	$	14.10	-	$	14.10		5,000		14.10	7.83	5,000		14.10
	$	28.90	-	$	28.90		50,625		28.90	3.19	50,625		28.90
	$	31.90	-	$	68.80		67,523		64.69	1.08	67,523		64.69
	$	80.30	-	$	96.70		22,569		94.29	2.13	22,569		94.29
	$	105.10	-	$	105.10		2,500		105.10	1.84	2,500		105.10
							600,140	$	18.79		600,140	$	18.79
Summary Of Restricted Stock Unit Activity	'
			Shares / Units		Weighted-Average Grant Date Fair Value
	NONVESTED AT DECEMBER, 31, 2012		-		$	-
	Granted		87,500			4.00
	Vested or Exercised		-87,500			4.00
	Expired or forfeited		-			-
	NONVESTED AT SEPTEMBER 30, 2013		-		$	-

Basis_Of_Reporting_Details

Basis Of Reporting (Details)	9 Months Ended
	Sep. 30, 2013
Basis Of Reporting [Abstract]	'
Minimum ownership interest , requiring equity method accounting	20.00%
Maximum ownership interest, requiring equity method accounting	50.00%
Non-controlling interest, ownership percentage	50.00%
Reverse stock split ratio	0.1

Operations_And_Liquidity_Detai

Operations And Liquidity (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2012	Dec. 31, 2011
In Thousands, unless otherwise specified
Operations And Liquidity [Abstract]	'	'	'	'
Cash and cash equivalents available to fund operations and investing activities	$16,544	$15,909	$17,579	$22,601

Investment_In_And_Loans_To_Dyn2

Investment In And Loans To Dynamic Fuels (Narrative) (Details) (USD $)	3 Months Ended			9 Months Ended
	Sep. 30, 2013	Jun. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
				gal		gal
Unusual Risk or Uncertainty [Line Items]	'	'	'	'	'	'
Equity investment in and loans to Dynamic Fuels, LLC	$40,365,000	'	'	$40,365,000	'	$38,407,000
Current accounts receivable from Dynamic Fuels, LLC	6,000	'	'	6,000	'	252,000
Tax credit per gallon of produced renewable diesel	'	'	'	1	'	'
Tax credit per gallon of produced alternative fuels	'	'	'	0.5	'	'
Income tax refund requested	'	'	'	9,700,000	'	'
Income tax refunds received	'	9,000,000	'	'	'	'
Tax refund, receivable	697,000	'	'	697,000	'	'
Repayment of working capital loan	'	'	'	9,700,000	'	'
Renewable products sold	'	'	'	'	'	66,800,000
Plant design production rate per year	'	'	'	75,000,000	'	'
Technical services revenue from Dynamic Fuels, LLC	24,000	'	372,000	469,000	4,803,000	'
Royalties from Dynamic Fuels, LLC plant production	'	'	304,000	0	679,000	'
Dynamic Fuels, LLC [Member]	'	'	'	'	'	'
Unusual Risk or Uncertainty [Line Items]	'	'	'	'	'	'
Excess value of investment in Dynamic Fuels, LLC	$7,700,000	'	'	$7,700,000	'	'

Investment_In_And_Loans_To_Dyn3

Investment In And Loans To Dynamic Fuels (Schedule Of Equity Method Investments) (Details) (USD $)	Jun. 30, 2013	Sep. 30, 2012
In Thousands, unless otherwise specified
Investment In And Loans To Dynamic Fuels [Abstract]	'	'
Cash and Current Assets	$9,615	$9,337
Inventory	3,233	17,509
Property, Plant and Equipment and Other Assets	154,965	150,258
Total Assets	167,813	177,104
Accounts Payable	1,404	10,241
Notes and Accounts Payable to Related Parties	18,982	29,976
Long-Term Liabilities	100,058	100,051
Total Liabilities	120,444	140,268
Total Members' Equity	47,369	36,836
Total Liabilities and Members' Equity	$167,813	$177,104

Investment_In_And_Loans_To_Dyn4

Investment In And Loans To Dynamic Fuels (Schedule Of Equity Method Investments, Statement Of Operations) (Details) (USD $)	3 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2013	Jun. 30, 2013
Investment In And Loans To Dynamic Fuels [Abstract]	'	'
Revenue	$120	$46,839
Cost of Goods Sold and Operating Expenses and General and Administrative	5,992	41,909
Income (Loss) from Operations	-5,872	4,930
Other Expense	-455	-1,296
Net Income (Loss)	($6,327)	$3,634

Earnings_Per_Share_Schedule_Of

Earnings Per Share (Schedule Of Weighted Average Number Of Shares) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Summary Of Significant Accounting Policies [Abstract]	'	'	'	'
Income (loss) from continuing operations available to common stockholders' for basic and diluted earnings per share	($5,999)	($1,037)	($2,651)	$3,996
Basic weighted-average shares	9,936	9,825	9,928	9,838
Stock options	'	'	'	111
Diluted weighted-average shares	9,936	9,825	9,928	9,949
Basic	($0.60)	($0.11)	($0.26)	$0.41
Diluted	($0.60)	($0.11)	($0.26)	$0.40
Reverse stock split ratio	'	'	0.1	'

Earnings_Per_Share_Schedule_Of1

Earnings Per Share (Schedule Of Anti-dilutive Securities Excluded From Computation Of Earnings Per Share) (Details) (USD $)	9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Earnings Per Share [Abstract]	'	'
Options, warrants and restricted stock excluded (in thousands)	2,388	2,076
Weighted-average exercise prices of options, warrants and restricted stock excluded	$29.96	$29.30
Nine month average market price	$5.40	$8.70

StockBased_Compensation_Narrat

Stock-Based Compensation (Narrative) (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Reverse stock split ratio	'	'	0.1	'
Common stock available for grant	533,497	'	533,497	'
Authorized to issue common stock in relation to stock options or restricted shares outstanding or available for grant	1,133,637	'	1,133,637	'
Stock options outstanding	600,140	'	600,140	'
Stock options outstanding, weighted average exercise price	$18.79	'	$18.79	'
Stock options granted	'	'	0	0
Total intrinsic value of options exercised	'	'	$0	$36,000
Proceeds from option exercises	'	'	0	63,000
Intrinsic value of fully vested options	0	'	0	'
Remaining weighted average contractual term for options exercisable	'	'	'4 years 5 months 1 day	'
Non-cash compensation cost related to stock and stock options and restricted stock recognized	30,000	61,000	443,000	476,000
Weighted average grant date fair value of common stock and restricted stock units granted	'	'	$4	'
Total fair value of restricted stock units vested	'	'	350,000	350,000
Restricted Stock [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Weighted average grant date fair value of common stock and restricted stock units granted	'	'	$4	$9.60
Total grant date fair value	'	'	$350,000	$350,000
Maximum [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Options granted exercisable for varying periods, number of years	'	'	'10 years	'

StockBased_Compensation_Number

Stock-Based Compensation (Number And Weighted Average Exercise Price Of Stock Options Outstanding) (Details) (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Stock-Based Compensation [Abstract]	'	'
Shares Under Stock Options, OUTSTANDING AT DECEMBER 31, 2012	640,454	'
Granted at market price, Shares Under Stock Options	0	0
Exercised, Shares Under Stock Options	'	'
Expired, forfeited, cancelled or repurchased, Shares Under Stock Options	-40,314	'
Shares Under Stock Options, OUTSTANDING AT SEPTEMBER 30, 2013	600,140	'
Weighted Average Price Per Share OUTSTANDING AT DECEMBER 31, 2012	$18.70	'
Granted at market price, Weighted Average Price Per Share	'	'
Exercised, Weighted Average Price Per Share	'	'
Expired, forfeited, cancelled or repurchased, Weighted Average Price Per Share	$17.55	'
Weighted Average Price Per Share OUTSTANDING AT SEPTEMBER 30, 2013	$18.79	'

StockBased_Compensation_Summar

Stock-Based Compensation (Summary Of Stock Options Outstanding By Exercise Price Range) (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'
Options Outstanding	600,140
Options Outstanding, Weighted Average Exercise Price	$18.79
Options Exercisable	600,140
Options Exercisable, Weighted Average Exercise Price Per Share	$18.79
Range Of Exercise Price, $6.60 - $6.60 [Member]	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'
Options Outstanding Exercise Price, Lower range limit	$6.60
Options Outstanding Exercise Price, Upper range limit	$6.60
Options Outstanding	451,923
Options Outstanding, Weighted Average Exercise Price	$6.60
Options Outstanding, Weighted Average Remaining Contractual Life	'4 years 10 months 10 days
Options Exercisable	451,923
Options Exercisable, Weighted Average Exercise Price Per Share	$6.60
Range Of Exercise Price, $14.10 - $14.10 [Member]	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'
Options Outstanding Exercise Price, Lower range limit	$14.10
Options Outstanding Exercise Price, Upper range limit	$14.10
Options Outstanding	5,000
Options Outstanding, Weighted Average Exercise Price	$14.10
Options Outstanding, Weighted Average Remaining Contractual Life	'7 years 9 months 29 days
Options Exercisable	5,000
Options Exercisable, Weighted Average Exercise Price Per Share	$14.10
Range Of Exercise Price, $28.90 - $28.90 [Member]	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'
Options Outstanding Exercise Price, Lower range limit	$28.90
Options Outstanding Exercise Price, Upper range limit	$28.90
Options Outstanding	50,625
Options Outstanding, Weighted Average Exercise Price	$28.90
Options Outstanding, Weighted Average Remaining Contractual Life	'3 years 2 months 9 days
Options Exercisable	50,625
Options Exercisable, Weighted Average Exercise Price Per Share	$28.90
Range Of Exercise Price, $31.90 - $68.80 [Member]	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'
Options Outstanding Exercise Price, Lower range limit	$31.90
Options Outstanding Exercise Price, Upper range limit	$68.80
Options Outstanding	67,523
Options Outstanding, Weighted Average Exercise Price	$64.69
Options Outstanding, Weighted Average Remaining Contractual Life	'1 year 29 days
Options Exercisable	67,523
Options Exercisable, Weighted Average Exercise Price Per Share	$64.69
Range Of Exercise Price, $80.30 - $96.70 [Member]	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'
Options Outstanding Exercise Price, Lower range limit	$80.30
Options Outstanding Exercise Price, Upper range limit	$96.70
Options Outstanding	22,569
Options Outstanding, Weighted Average Exercise Price	$94.29
Options Outstanding, Weighted Average Remaining Contractual Life	'2 years 1 month 17 days
Options Exercisable	22,569
Options Exercisable, Weighted Average Exercise Price Per Share	$94.29
Range Of Exercise Price, $105.10 - $105.10 [Member]	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'
Options Outstanding Exercise Price, Lower range limit	$105.10
Options Outstanding Exercise Price, Upper range limit	$105.10
Options Outstanding	2,500
Options Outstanding, Weighted Average Exercise Price	$105.10
Options Outstanding, Weighted Average Remaining Contractual Life	'1 year 10 months 2 days
Options Exercisable	2,500
Options Exercisable, Weighted Average Exercise Price Per Share	$105.10

StockBased_Compensation_Summar1

Stock-Based Compensation (Summary Of Restricted Stock Unit Activity) (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Stock-Based Compensation [Abstract]	'
Shares / Units, NONVESTED AT DECEMBER 31, 2012	'
Granted, Shares / Units	87,500
Vested or Exercised, Shares / Units	-87,500
Expired forfeited, Shares / Units	'
Shares / Units, NONVESTED AT SEPTEMBER 30, 2013	'
Weighted-Average Grant Date Fair Value, NONVESTED AT DECEMBER 31, 2012	'
Granted, Weighted-Average Grant Date Fair Value	$4
Vested or Exercised, Weighted-Average Grant Date Fair Value	$4
Expired or forfeited, Weighted-Average Grant Date Fair Value	'
Weighted-Average Grant Date Fair Value, NONVESTED AT SEPTEMBER 30, 2013	'

Commitments_And_Contingencies_

Commitments And Contingencies (Narrative) (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Commitments And Contingencies [Abstract]	'
Commitments under employment agreements, severance benefits	$2,088,000