GreenShift (GERS) 10-Q 13 Aug 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Aug. 14, 2014
Entity Registrant Name	'GREENSHIFT CORP	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Amendment Flag	'false	'
Entity Central Index Key	'0001269127	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Well-known Seasoned Issuer	'No	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Entity Common Stock, Shares Outstanding	'	52,872,086

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2014	Dec. 31, 2013
Current Assets:	'	'
Cash	$2,385,291	$3,896,312
Accounts receivable, net of doubtful accounts	1,357,268	1,173,490
Inventories, net	685,533	1,145,533
Prepaid expenses and other assets	44,579	43,201
Total current assets	4,472,671	6,258,536
Other Assets:	'	'
Intangible assets, net	22,780	24,381
Deposits	69,730	69,730
Total other assets	92,510	94,111
TOTAL ASSETS	4,565,181	6,352,647
Current Liabilities:	'	'
Accounts payable	6,743,328	6,952,217
Accrued expenses	5,628,892	5,076,202
Accrued expenses - deferred employee compensation	518,043	518,043
Income tax payable	55,604	55,604
Accrued interest payable	6,204,939	5,708,966
Accrued interest payable - related party	195,807	115,811
Deferred revenue	62,414	'
Billings in excess	'	70,000
Notes Payable	1,367,045	1,367,045
Current portion of convertible debentures, net	18,740,694	24,934,052
Convertible debentures - related party	2,637,949	2,793,839
Amounts due to minority shareholders	545,842	545,842
Total current liabilities	42,700,558	48,137,621
Long term Liabilities:	'	'
Liability for preferred stock - related party	737,566	764,256
Convertible debentures	175,000	175,000
Total long term liabilities	912,566	939,256
Total Liabilities	43,613,124	49,076,877
Commitments and Contingencies	'	'
Stockholders' Equity (Deficit):	'	'
Common stock: $0.0001 par value, 2,500,000,000 authorized 40,917,469 and 9,319,049 shares issued and outstanding, respectively	4,090	932
Additional paid in capital	121,176,102	120,408,478
Accumulated deficit	-160,231,478	-163,136,983
Total stockholders' equity (deficit)	-39,047,943	-42,724,230
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	4,565,181	6,352,647
Class B Preferred Stock	'	'
Stockholders' Equity (Deficit):	'	'
Preferred Stock	2,481	2,481
Class D Preferred Stock	'	'
Stockholders' Equity (Deficit):	'	'
Preferred Stock	$862	$862

CONSOLIDATED_BALANCE_SHEETS_PA

CONSOLIDATED BALANCE SHEETS PARENTHETICAL (USD $)	Jun. 30, 2014	Dec. 31, 2013
Common stock par value	$0.00	$0.00
Common stock shares authorized	2,500,000,000	2,500,000,000
Common stock shares issued	40,917,469	9,319,049
Common stock shares outstanding	40,917,469	9,319,049
Class B Preferred Stock	'	'
Convertible preferred stock par value	$0.00	$0.00
Convertible preferred stock shares authorized	5,000,000	5,000,000
Convertible preferred stock shares issued	2,480,544	2,480,544
Convertible preferred stock shares outstanding	2,480,544	2,480,544
Class D Preferred Stock	'	'
Convertible preferred stock par value	$0.00	$0.00
Convertible preferred stock shares authorized	5,000,000	5,000,000
Convertible preferred stock shares issued	862,262	862,262
Convertible preferred stock shares outstanding	862,262	862,262

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
CONSOLIDATED STATEMENTS OF OPERATIONS	'	'	'	'
Revenue	$4,109,835	$4,742,941	$7,838,879	$7,900,840
Costs of goods sold	1,589,259	2,454,161	3,210,196	3,633,707
Gross profit	2,520,576	2,288,780	4,628,683	4,267,133
Research and development	233,682	76,849	420,396	145,491
Sales, general and administrative expenses	2,045,033	1,881,746	3,573,494	3,488,687
Total operating expenses	2,278,715	1,958,595	3,993,890	3,634,178
Income from operations	241,861	330,185	634,793	632,955
Gain (loss) on extinguishment of debt	2,814,952	'	2,814,952	10,884
Other expense	'	-450,000	'	-450,000
Interest income	'	9,203	'	18,233
Miscellaneous income	3,981	9,487	4,055	11,081
Change in conversion liabilities	72,682	66,872	156,015	105,977
Change in conversion liabilities - related party	39,160	-106,077	23,660	-120,942
Interest expense	-298,333	-392,795	-647,944	-797,308
Interest expense - related party	-39,479	-45,873	-79,996	-91,866
Total other income (expense), net	2,592,963	-909,183	2,370,742	-1,313,941
Income (loss) before provision for income taxes	2,834,824	-578,998	2,905,535	-680,986
(Provision for)/benefit from income taxes	-30	-143,739	-30	-143,739
Net income (loss)	$2,834,794	($722,738)	$2,905,505	($824,725)
Weighted average common shares outstanding, basic	47,517,598	1,495,677	23,406,066	1,215,832
Weighted average common shares outstanding, diluted	1,832,359,472	1,495,677	1,832,359,472	1,215,832
Net income (loss) per share - basic	$0.06	($0.48)	$0.12	($0.68)
Net income (loss) per share - diluted	$0	($0.48)	$0	($0.68)

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES	'	'
Net income (loss)	$2,905,505	($824,725)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:	'	'
Amortization of intangibles	1,601	1,601
Gain on extinguishment of debt	-2,814,952	-10,884
Change in conversion liabilities	-179,675	14,965
Bad debt expense (recovery)	'	12,000
Changes in operating assets and liabilities:	'	'
Change in accounts receivable	-183,778	-214,817
Change in prepaid expenses	-1,378	61,391
Change in inventory	460,000	834,850
Change in deposits	'	904
Change in deferred revenue	-7,586	-113,750
Change in accrued interest	647,944	779,586
Change in accrued interest - related party	79,996	91,866
Change in billings in excess	'	1,083,856
Change in income tax payable	'	84,600
Change in accounts payable and accrued expenses	443,802	1,523,499
Net cash provided by operating activities	1,351,479	3,324,944
CASH FLOWS FROM FINANCING ACTIVITIES	'	'
Proceeds from convertible debentures - related party	'	250,000
Repayment of convertible debentures	-2,802,500	-1,400,000
Repayment of convertible debentures - related party bridge	-60,000	-377,415
Net cash provided by (used in) financing activities	-2,862,500	-1,527,415
Net increase (decrease) in cash	-1,511,021	1,797,530
Cash at beginning of period	3,896,312	2,030,577
Cash at end of period	$2,385,291	$3,828,107

Note_1_Basis_of_Presentation

Note 1 - Basis of Presentation	6 Months Ended
	Jun. 30, 2014
Notes	'
Note 1 - Basis of Presentation	'
	NOTE 1                BASIS OF PRESENTATION
	REFERENCES TO THE COMPANY
	In this Quarterly Report on Form 10-Q, the terms “we,” “our,” “us,” “GreenShift,” or the “Company” refer to GreenShift Corporation, and its subsidiaries on a consolidated basis. The term “GreenShift Corporation” refers to GreenShift Corporation on a standalone basis only, and not its subsidiaries.
	The condensed balance sheet at December 31, 2013 was derived from audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America. The other information in these condensed financial statements is unaudited but, in the opinion of management, reflects all adjustments necessary for a fair presentation of the results for the periods covered. All such adjustments are of a normal recurring nature unless disclosed otherwise. These condensed financial statements, including notes, have been prepared in accordance with the applicable rules of the Securities and Exchange Commission and do not include all of the information and disclosures required by accounting principles generally accepted in the United States of America for complete financial statements. These condensed financial statements should be read in conjunction with the financial statements and additional information as contained in our Annual Report on Form 10-K for the year ended December 31, 2013.
	CONSOLIDATED FINANCIAL STATEMENTS
	The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, and entities which we control. All significant intercompany balances and transactions have been eliminated on a consolidated basis for reporting purposes.
	USE OF ESTIMATES IN THE PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS
	The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles, or GAAP, requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Note_2_Description_of_Business

Note 2 - Description of Business	6 Months Ended
	Jun. 30, 2014
Notes	'
Note 2 - Description of Business	'
	NOTE 2                DESCRIPTION OF BUSINESS
	We develop and commercialize clean technologies that facilitate the more efficient use of natural resources. We are focused on doing so today in the U.S. ethanol industry, where we innovate and offer technologies that improve the profitability of licensed ethanol producers.
	We generate revenue by licensing our technologies to ethanol producers in exchange for ongoing royalty and other license fees. Several plants were licensed to use our technologies during 2013. During the six months ended June 30, 2014 three customers each provided over 10% of our revenue or 53% of total revenue; during the six months ended June 30, 2013, three customers each provided over 10% of our revenue or 54% of total revenue (See Note 4 Significant Accounting Policies for Revenue Recognition policies).

Note_3_Going_Concern

Note 3 - Going Concern	6 Months Ended
	Jun. 30, 2014
Notes	'
Note 3 - Going Concern	'
	NOTE 3                GOING CONCERN
	The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As of June 30, 2014, the Company had $2,385,291 in cash, and current liabilities exceeded current assets by $38,227,887. These matters raise substantial doubt about the Company’s ability to continue as a going concern. Our ability to satisfy our obligations will depend on our success in obtaining financing, our success in developing revenue sources, and our success in negotiating with the creditors. Management’s plans to resolve the Company’s working capital deficit include increasing revenue. There can be no assurances that the Company will be able to eliminate its working capital deficit and that the Company’s historical operating losses will not recur. The accompanying financial statements do not contain any adjustments which may be required as a result of this uncertainty.

Note_4_Significant_Accounting_

Note 4 - Significant Accounting Policies	6 Months Ended
	Jun. 30, 2014
Notes	'
Note 4 - Significant Accounting Policies	'
	NOTE 4                SIGNIFICANT ACCOUNTING POLICIES
	SEGMENT INFORMATION
	We determined our reporting units in accordance with FASB ASC 280, “Segment Reporting” (“ASC 280”). We evaluate a reporting unit by first identifying its operating segments under ASC 280. We then evaluate each operating segment to determine if it includes one or more components that constitute a business. If there are components within an operating segment that meet the definition of a business, we evaluate those components to determine if they must be aggregated into one or more reporting units. If applicable, when determining if it is appropriate to aggregate different operating segments, we determine if the segments are economically similar and, if so, the operating segments are aggregated. We have one operating segment and reporting unit. We operate in one reportable business segment; we provide technologies and related products and services to U.S.-based ethanol producers. We are organized and operated as one business. We exclusively sell our technologies, products and services to ethanol producers that have entered into license agreements with the Company. No sales of any kind occur, and no costs of sales of any kind are incurred, in the absence of a license agreement. A single management team that reports to the chief operating decision maker comprehensively manages the entire business. We do not operate any material separate lines of business or separate business entities with respect to our technologies, products and services. The Company does not accumulate discrete financial information according to the nature or structure of any specific technology, product and/or service provided to the Company’s licensees. Instead, management reviews its business as a single operating segment, using financial and other information rendered meaningful only by the fact that such information is presented and reviewed in the aggregate. Discrete financial information is not available by more than one operating segment, and disaggregation of our operating results would be impracticable.
	REVENUE RECOGNITION
	The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable, and collection is reasonably assured. The Company recognizes revenue from licensing of the Company’s corn oil extraction technologies when corn oil sales occur. Licensing royalties are recognized as earned by calculating the royalty as a percentage of gross corn oil sales by the ethanol plants. For the purposes of assessing royalties, the sale of corn oil is deemed to occur when shipped, which is when four basic criteria have been met: (i) persuasive evidence of a customer arrangement; (ii) the price is fixed or determinable; (iii) collectability is reasonably assured, and (iv) product delivery has occurred, which is generally upon shipment to the buyer of the corn oil. Deposits from customers are not recognized as revenues, but as liabilities, until the following conditions are met: revenues are realized when cash or claims to cash (receivable) are received in exchange for goods or services, or when assets received in such exchange are readily convertible to cash or claim to cash, or when such goods or services are transferred. When an income item is earned, the related revenue item is recognized and any deferred revenue is reduced. To the extent revenues are generated from the Company’s licensing support services, the Company recognizes such revenues when the services are completed and billed. The Company provides process engineering services on fixed price contracts.  These services are generally provided over a short period of less than three months.  Revenue from fixed price contracts is recognized on a pro rata basis over the life of the contract as they are generally performed evenly over the contract period. The Company additionally performs under fixed-price contracts involving design, engineering, procurement, installation, and start-up of oil recovery and other production systems. Revenues and fees on these contracts are recognized using the percentage-of-completion method of accounting, and specifically the efforts-expended percentage-of-completion method using measures such as task duration and completion. The efforts-expended approach is used in situations where it is more representative of progress on a contract than the cost-to-cost or the labor-hours methods. The asset, “costs and estimated earnings in excess of billings on uncompleted contracts,” represents revenues recognized in excess of amounts billed. The liability, “billings in excess of costs and estimated earnings on uncompleted contracts,” represents billings in excess of revenues recognized.
	BASIC AND DILUTED INCOME (LOSS) PER SHARE
	The Company computes its net income or loss per common share under the provisions of ASC 260, “Earnings per Share,” whereby basic net income or loss per share is computed by dividing the net loss for the period by the weighted-average number of shares of common stock outstanding during the period. Dilutive net loss per share excludes potential common shares issuable upon conversion of all derivative securities if the effect is anti-dilutive. Thus, common stock issuable upon exercise or conversion of options, warrants, convertible preferred stock, or convertible debentures are excluded from computation of diluted net loss per share, but are included in computation of diluted net income per share. During the three and six months ended June 30, 2014 , we reported net income and accordingly included potentially dilutive instruments in the fully diluted net income per share calculation. However, during the three months and six ended June 30, 2013, we reported net losses and, in accordance with ASC 260, dilutive instruments were excluded from the net loss per share calculation for such periods.
	FINANCIAL INSTRUMENTS
	The carrying values of accounts receivable, other receivables, accounts payable and accrued expenses approximate their fair values due to their short term maturities. The carrying values of the Company’s long-term debt approximate their fair values based upon a comparison of the interest rate and terms of such debt to the rates and terms of debt currently available to the Company. It was not practical to estimate the fair value of the convertible debt. In order to do so, it would be necessary to obtain an independent valuation of these unique instruments. The cost of that valuation would not be justified in light of the materiality of the instruments to the Company.
	RECENT ACCOUNTING PRONOUNCEMENTS
	Management does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying financial statements.

Note_5_Fair_Value_Disclosures

Note 5 - Fair Value Disclosures	6 Months Ended
	Jun. 30, 2014
Notes	'
Note 5 - Fair Value Disclosures	'
	NOTE 5                FAIR VALUE DISCLOSURES
	Effective July 1 2009, the Company adopted ASC 820, Fair Value Measurements and Disclosures. This topic defines fair value for certain financial and nonfinancial assets and liabilities that are recorded at fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. This guidance supersedes all other accounting pronouncements that require or permit fair value measurements.  The Company accounted for the convertible debentures in accordance with ASC 480, Distinguishing Liabilities from Equity, as the conversion feature embedded in the convertible debentures could result in the note principal and related accrued interest being converted to a variable number of the Company’s common shares.
	Effective July 1 2009, the Company adopted ASC 820-10-55-23A, Scope Application to Certain Non-Financial Assets and Certain Non-Financial Liabilities, delaying application for non-financial assets and non-financial liabilities as permitted. ASC 820 establishes a framework for measuring fair value, and expands disclosures about fair value measurements. In January 2010, the FASB issued an update to ASC 820, which requires additional disclosures about inputs into valuation techniques, disclosures about significant transfers into or out of Levels 1 and 2, and disaggregation of purchases, sales, issuances, and settlements in the Level 3 rollforward disclosure.
	ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows:
	Level 1	quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access as of the measurement date. Financial assets and liabilities utilizing Level 1 inputs include active exchange-traded securities and exchange-based derivatives
	Level 2	inputs other than quoted prices included within Level 1 that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data. Financial assets and liabilities utilizing Level 2 inputs include fixed income securities, non-exchange-based derivatives, mutual funds, and fair-value hedges
	Level 3	unobservable inputs for the asset or liability only used when there is little, if any, market activity for the asset or liability at the measurement date. Financial assets and liabilities utilizing Level 3 inputs include infrequently-traded, non-exchange-based derivatives and commingled investment funds, and are measured using present value pricing models
	The following table presents the embedded derivative, the Company’s only financial assets measured and recorded at fair value on the Company’s Consolidated Balance Sheets on a recurring basis and their level within the fair value hierarchy during the six months ended June 30, 2014:
	Embedded conversion liabilities as of June 30, 2014:
	Level 1	$	--
	Level 2		--
	Level 3		2,010,853
	Total	$	2,010,853
	The following table reconciles, for the period ended June 30, 2014, the beginning and ending balances for financial instruments that are recognized at fair value in the consolidated financial statements:
	Balance of embedded derivatives at December 31, 2013	$	2,646,118
	Present value of beneficial conversion features of new debentures		134,563
	Accretion adjustments to fair value – beneficial conversion features		32,299
	Reductions in fair value due to repayments/redemptions		(346,537	)
	Gain on extinguishment related to conversion feature		(400,804	)
	Reductions in fair value due to principal conversions		(54,785	)
	Balance at June 30, 2014	$	2,010,320
	The fair value of the conversion features are calculated at the time of issuance and the Company records a conversion liability for the calculated value. The Company recognizes the initial expense for the conversion liability which is added to the carrying value of the debenture or the liability for preferred stock. The Company also recognizes expense for accretion of the conversion liability to fair value over the term of the note. The Company has adopted ASC 480, Distinguishing Liabilities from Equity, as the conversion feature embedded in each debenture and/or convertible preferred share could result in the note principal and/or preferred shares being converted to a variable number of the Company’s common shares.

Note_6_Inventories

Note 6 - Inventories	6 Months Ended
	Jun. 30, 2014
Notes	'
Note 6 - Inventories	'
	NOTE 6                INVENTORIES
	The Company maintains an inventory of equipment and components used in systems designed to extract corn oil from licensed ethanol production facilities. The inventory, which consists of equipment and component parts, is held for sale to the Company’s licensees on an as needed basis. Inventories are stated at the lower of cost or market, with cost being determined by the specific identification method. Inventories at June 30, 2014 and December 31, 2013 were $685,533 and $1,145,533, respectively.

Note_7_Deferred_Revenue

Note 7 - Deferred Revenue	6 Months Ended
	Jun. 30, 2014
Notes	'
Note 7 - Deferred Revenue	'
	NOTE 7                DEFERRED REVENUE
	Deposits from customers are not recognized as revenues, but as liabilities, until the following conditions are met: revenues are realized when cash or claims to cash (receivable) are received in exchange for goods or services or when assets received in such exchange are readily convertible to cash or claim to cash or when such goods/services are transferred. When such income item is earned, the related revenue item is recognized, and the deferred revenue is reduced. To the extent revenues are generated from the Company’s licensing support services, the Company recognizes such revenues when services are completed and billed.

Note_8_Debt_Obligations

Note 8 - Debt Obligations	6 Months Ended
	Jun. 30, 2014
Notes	'
Note 8 - Debt Obligations	'
	NOTE 8                DEBT OBLIGATIONS
	The following is a summary of the Company’s financing arrangements as of June 30, 2014:
			6/30/14
	Current portion of long term debt:
	Mortgages and other term notes	$	21,743
	Current portion of notes payable		1,345,302
	Total current portion of long term debt	$	1,367,045
	Current portion of convertible debentures:
	YA Global Investments, L.P., 6% interest, conversion at 90% of market	$	15,393,660
	Better Half Bloodstock, Inc., 0% interest, conversion at 90% of market		50,000
	Circle Strategic Allocation Fund, LP, 6% interest, conversion at 90% of market		51,156
	Dakota Capital Pty Limited, 6% interest, conversion at 90% of market		806,674
	EFG Bank, 6% interest, conversion at 90% of market		149,301
	Empire Equity, 6% interest, conversion at 90% of market		125,000
	Epelbaum Revocable Trust, 6% interest, conversion at 90% of market		115,509
	Highland Capital, 6% interest, conversion at 90% of market		110,000
	JMC Holdings, LP, 6% interest, conversion at 90% of market		177,695
	Dr. Michael Kesselbrenner, 6% interest, conversions at 90% of market		14,537
	May Davis, 6% interest, conversion at 90% of market		26,671
	David Moran & Siobhan Hughes, 6% interest, conversion at 90% of market		3,036
	Morano, LLC, 6% interest, no conversion discount		33,320
	Susan Schneider, 6% interest, conversions at 90% of market		13,304
	Minority Interest Fund (II), LLC, 6% interest, no conversion discount		2,281,199
	Viridis Capital, LLC, 6% interest, conversion at 50% of market		100,000
	Related Party Debenture, 6% interest, no conversion discount		156,750
	Conversion liabilities		1,770,832
	Total convertible debentures	$	21,378,643
	Long term convertible debentures:
	Gerova Asset Backed Holdings, LP, 2% interest, no conversion discount		175,000
	Total long term convertible debentures	$	175,000
	A total of $19,782,811 in principal from the convertible debt noted above is convertible into the common stock of the Company. The following chart is presented to assist the reader in analyzing the Company’s ability to fulfill its fixed debt service requirements (net of note discounts) as of June 30, 2014 and the Company’s ability to meet such obligations: :
	Year		Amount
	2014	$	20,974,856
	2015		--
	2016		--
	2017		--
	2018		175,000
	Thereafter		--
	Total minimum payments due under current and long term obligations	$	21,149,856
	YA GLOBAL INVESTMENTS, L.P.
	In 2012 the Company and its subsidiaries entered into a series of agreements with YA Global Investments, L.P. (“YA Global”) pursuant to which existing obligations from the Company to YA Global were replaced by an amended and restated convertible debenture in the amount of $33,308,023 (the “A&R Debenture”).  The A&R Debenture bears interest at the rate of 6% per annum and provides the holder with the right, but not the obligation, to convert any portion of the A&R Debenture into the Company’s common stock at a rate equal to the lesser of (a) $1.00 or (b) 90% of the lowest daily volume weighted average price of the Company’s common stock during the 20 consecutive trading days immediately preceding the conversion date. A holder of the A&R Debenture will not be permitted, however, to convert into a number of shares that would cause it to own more than 4.99% of the Company’s outstanding common shares. The A&R Debenture is additionally subject to ongoing compliance conditions, including the absence of change of control events and timely issuance of common shares upon conversion.
	On November 12, 2013, the Company and YA Global Investments, L.P., entered into an amended forbearance agreement pursuant in which the maturity date of the Company's outstanding debt to YA Global and its assignees was extended to December 31, 2014. The amendment further provided for a mandatory prepayment of $500,000 on or before December 15, 2013, cash payments by the Company of $250,000 per month for the first six months of 2014, $300,000 per month for the second six months of 2014 and the reimbursement of certain legal costs and expenses. The Company will also be required to pay an amount equal to twenty percent (20%) of all gross proceeds received from any defendant in any patent infringement litigation, whether now existing or hereafter arising, within one (1) Business Day of receipt.
	The Company accounted for the A&R Debenture in accordance with ASC 480, “Distinguishing Liabilities from Equity,” as the conversion feature embedded in the A&R Debenture could result in the note principal being converted to a variable number of the Company’s common shares. During the six months ended June 30, 2014, the Company paid $1,402,500 in cash towards the principal balance of the A&R Debenture.  During the three months ended March 31, 2014, YA Global assigned $475,000 of its principal due on the A&R Debenture to three of its equity-holders, which assignment reduced the principal balance due to YA. The Company had determined the fair value of the A&R Debenture at December 31, 2013 to be $19,675,780 which represented the face value of the debenture plus the present value of the conversion feature. During the six months ended June 30, 2014, the Company recognized a decrease in the conversion liability relating to the A&R Debenture of $273,254 for assignments and/or repayments during the period and $6,090 from conversions of debt into common stock.. The carrying value of the A&R Debenture was $16,882,060 at June 30, 2014, including principal of $15,393,660 and the value of the conversion liability. The liability for the conversion feature shall increase from its present value of $1,488,399 at June 30, 2014 to its estimated settlement value of $1,767,561 at December 31, 2014. Interest expense of $497,506 for the A&R Debenture was accrued for the six months ended June 30, 2014.
	Included in the balance of the A&R Debenture is an accrual that the Company made in 2012 as a result of certain indemnification obligations that arose from the Company’s transactions with YA Global’s affiliate, YA Corn Oil.  The initial accrual was approximately $1.2 million. The Company's accrual is evaluated at the completion of each reporting period, and additional expense or income will be recognized in the future should an event come to pass which either justifies reduction or removal of the liquidated damages accrual, or otherwise gives rise to an actual or a potential, but determinable, expense.  An estimate of this amount cannot be made at this time.
	ASSIGNEES OF YA GLOBAL INVESTMENTS, L.P.
	From time to time since 2011, YA Global has subdivided the A&R Debenture (or its predecessor obligation) and assigned portions to individuals and entities that are equity-holders in YA Global.  As of March 31, 2014, fifteen assignees of YA Global held debentures with an aggregate balance of $4,730,499 (the “Assignee Debentures”).  The terms of the Assignee Debentures are substantially identical.  The Assignee Debentures bear interest at 6% per annum, except that debentures in the principal amount of $50,000 that were issued in exchange for assigned accrued interest do not bear interest. The holder of an Assignee Debenture has the right, but not the obligation, to convert any portion of the Assignee Debenture into the Company’s common stock at a rate equal to the lesser of (a) $1.00 or (b) 90% of the lowest daily volume weighted average price of the Company’s common stock during the 20 consecutive trading days immediately preceding the conversion date.  The Assignee Debentures mature on December 31, 2014.
	The Company accounted for the Assignee Debentures in accordance with ASC 480, Distinguishing Liabilities from Equity, as the conversion feature embedded in each Assignee Debentures could result in the note principal being converted to a variable number of the Company’s common shares. The Company determined the aggregate value of the Assignee Debentures at December 31, 2013 to be $5,149,206 which represented the aggregate face value of the debentures of $4,634,512 plus the present value of the conversion feature. During the six months ended June 30, 2014, the Company made payments against the Assignee Debentures which resulted in an $18,872 reduction of the fair value of the conversion liability for the period. In addition, the value was reduced by $400,804 for conversion features eliminated upon retirement of the related debentures (see below). The carrying value of the Assignee Debentures was $1,825,315 at June 30, 2014, including principal of $1,642,882 and the value of the conversion liability. The present value of the liability for the conversion feature has reached its estimated settlement value of $182,433 as of June 30, 2014.  Interest expense of $103,805 for these obligations was accrued for the six months ended June 30, 2014.
	On April 25, 2014, the Company retired Assignee Debentures with an aggregate outstanding balance of $3,700,000, consisting of outstanding principal and interest of $3,609,206 and $90,794, respectively. The Company made a cash payment of $1,400,000 to retire the debentures. The debt retirement is expected to reduce the Company’s annual interest charge by approximately $215,000 (6% interest per year on the $3,609,206 of principal being retired).
	RELATED PARTY OBLIGATIONS
	As of December 31, 2010, the Company had convertible debentures payable to Minority Interest Fund (II), LLC (“MIF”) in an aggregate principal amount of $3,988,326 (the “MIF Debenture”) and convertible debentures payable to Viridis Capital, LLC in an aggregate principal amount of $518,308 (the “Viridis 2010 Debenture”). As discussed more fully in Note 17, Related Party Transactions, below, the Company entered into agreements with MIF and Viridis to amend and restate the terms of the MIF Debenture and Viridis 2010 Debenture effective September 30, 2011 to extend the maturity date to September 30, 2013; to eliminate and contribute $502,086 in accrued interest and $1,065,308 of principal; to reduce the applicable interest rate to 6% per annum; to eliminate MIF’s and Viridis’ right to convert amounts due at a discount to the market price of the Company’s common stock; and to reverse various non-cash assignments of debt involving related parties. The restated balances due to MIF and Viridis at September 30, 2011, were $3,017,061 and $237,939, respectively. No interest was payable to either MIF or Viridis after these amendments. MIF received 62,500 shares of Series D Preferred Stock in partial consideration of the contribution of principal and accrued interest and the various other modified terms of MIF’s agreements with the Company. On September 30, 2011, the Company issued $1,090,000 and $351,000 in convertible debt to Acutus Capital, LLC (“Acutus”) and family members of the Company’s chairman, respectively, for cash investments previously provided to the Company. The terms of these debentures provide for interest at 6% per annum, a maturity date of September 30, 2013, and the right to convert amounts due into Company common stock at 100% of the market price for the Company’s common stock at the time of conversion. The foregoing debentures are subject to conditions which limit the transfer of shares issued upon conversion to 5% of the average monthly volume for the Company’s common stock.
	As of April 1, 2013, the Company issued a $250,000 debenture to Viridis Capital, LLC (“Viridis” and the “Viridis Debenture”) in exchange for full satisfaction of expenses and costs that were incurred by Viridis in connection with its guaranty of the Company’s obligations (see Note 12, Related Party Transactions, below).  Viridis shall have the right, but not the obligation, to convert any portion of the Viridis Debenture into the Company’s common stock at a rate equal to the lesser of (a) $1.00 or (b) 50% of the 20 day volume weighted average price of the Company’s common stock during the 20 consecutive trading days immediately preceding the conversion date.  $150,000 of the Viridis Debenture was paid during the year ended December 31, 2013. The Company accounted for the Viridis Debenture in accordance with ASC 480, Distinguishing Liabilities from Equity, as the conversion feature embedded in the Viridis Debenture could result in the note principal being converted to a variable number of the Company’s common shares. The Company determined the value of the Viridis Debenture upon issuance to be $477,273 which represented the face value of the debenture of $250,000 plus the present value of the conversion feature. A $150,000 portion of the Viridis Debenture was assigned to a related party resulting in a $136,364 reduction of the fair value of the conversion liability for the period and accretion of $6,061 was recognized during 2013.  The carrying value of the Viridis Debenture was $200,000 at June 30, 2014, including principal of $100,000 and the value of the conversion liability. The present value of the liability for the conversion feature has reached its estimated settlement value of $100,000 at June 30, 2014.  Interest expense of $2,975 for these obligations was accrued for the six months ended June 30, 2014.
	OTHER DEBENTURES
	During the year ended December 31, 2012, the Company incurred $175,000 in convertible debt to Gerova Asset Back Holdings, LP (“Gerova” and the “Gerova Debenture”). Gerova shall have the right, but not the obligation, to convert any portion of the convertible debenture into the Company’s common stock at a rate equal to 100% of the closing market price for the Company’s common stock for the day preceding the conversion date.  Gerova delivered a release in favor of the Company in respect of any and all amounts that may have been due under the Company’s former guaranty agreement with Gerova. The balance of the Gerova Debenture was $175,000 at June 30, 2014. Interest expense of $1,736 for these obligations was accrued for the six months ended June 30, 2014.
	During the year ended December 31, 2013, Minority Interest Fund (II), LLC assigned $200,000 of its convertible debt to Nicholas J. Morano, LLC (“Morano” and the “Morano Debenture”).  Morano shall have the right, but not the obligation, to convert any portion of the accrued interest into the Company’s common stock at 100% of the market price for the Company’s common stock at the time of conversion.  During the six months ended June 30, 2014, $75,746 in principal was converted into common stock.  The balance of the Morano Debenture was $33,320 at June 30, 2014. Interest expense of $2,104 for these obligations was accrued for the six months ended June 30, 2014.

Note_9_Guaranty_Agreement

Note 9 - Guaranty Agreement	6 Months Ended
	Jun. 30, 2014
Notes	'
Note 9 - Guaranty Agreement	'
	NOTE 9                GUARANTY AGREEMENT
	Viridis Capital, LLC (“Viridis”) is the majority shareholder of the Company and is solely owned by Kevin Kreisler, the Company’s founder and chairman. Viridis has guaranteed all of the Company’s senior debt and has pledged all of its assets, including its shares of Company Series D Preferred Stock, to YA Global to secure the repayment by the Company of its obligations to YA Global (see Note 10, Stockholders’ Equity, below). Viridis has also guaranteed all amounts due to Cantrell Winsness Technologies, LLC in connection with the acquisition by the Company’s subsidiary of its patented and patent-pending extraction technologies (see Note 12, Related Party Transactions, below). The Company has separately agreed to indemnify and hold Viridis harmless from any and all losses, costs and expenses incurred by Viridis in connection with its guaranty of the Company’s obligations.

Note_10_Stockholders_Equity

Note 10 - Stockholders' Equity	6 Months Ended
	Jun. 30, 2014
Notes	'
Note 10 - Stockholders' Equity	'
	NOTE 10              STOCKHOLDERS’ EQUITY
	SERIES B PREFERRED STOCK
	Each share of Series B Preferred Stock may be converted by the holder into 0.025 shares of common stock. Upon the declaration of dividends on common stock, the holders would be entitled to cumulative dividend rights equal to that of the holders of the number of shares into which the Series B Preferred Shares are convertible, and have voting privileges of one vote to every one common share. At June 30, 2014 and December 31, 2012, there were 2,480,544 shares of Series B Preferred Stock issued and outstanding.
	SERIES D PREFERRED STOCK
	Shares of the Series D Preferred Stock (the “Series D Shares”) may be converted by the holder into Company common stock. The conversion ratio is such that the full 1,000,000 Series D Shares originally issued convert into Company common shares representing 80% of the fully diluted outstanding common shares outstanding after the conversion (which includes all common shares outstanding plus all common shares potentially issuable upon the conversion of all derivative securities not held by the holder). The holder of Series D Shares may cast the number of votes at a shareholders meeting or by written consent that equals the number of common shares into which the Series D Shares are convertible on the record date for the shareholder action. In the event the Board of Directors declares a dividend payable to Company common shareholders, the holders of Series D Shares will receive the dividend that would be payable if the Series D Shares were converted into Company common shares prior to the dividend. In the event of a liquidation of the Company, the holders of Series D Shares will receive a preferential distribution of $0.001 per share, and will share in the distribution as if the Series D Shares had been converted into common shares. The Company has issued 800,000 Series D Shares to Viridis Capital, LLC, and 62,500 Series D Shares to Minority Interest Fund (II), LLC. However, Viridis and the Company are subject to an additional agreements which, if performed, provide for additional (but currently unissued) shares of the Company’s Series D Preferred Stock to be beneficially owned by Edward Carroll (187,500 shares), Acutus Capital, LLC (124,875 shares) and Minority Interest Fund (II), LLC (41,034 additional shares).
	ASC 480, Distinguishing Liabilities from Equity, sets forth the requirements for determination of whether a financial instrument contains an embedded derivative that must be bifurcated from the host contract, therefore the Company evaluated whether the conversion feature for Series D Preferred Stock would require such treatment; one of the exceptions to bifurcation of the embedded conversion feature is that the conversion feature as a standalone instrument would be classified in stockholders’ equity. Management has determined that the conversion option would not be classified as a liability as a standalone instrument, therefore it meets the exception for bifurcation of the embedded derivative under ASC 815, Derivatives and Hedging. ASC 815 addresses whether an instrument that is not under the scope of ASC 480 would be classified as liability or equity; one of the factors that would require liability classification is if the Company does not have sufficient authorized shares to effect the conversion. If a company could be required to obtain shareholder approval to increase the company's authorized shares in order to net-share or physically settle a contract, share settlement is not controlled by the company. The majority of the Company’s outstanding shares of Series D Preferred Stock are owned by Viridis Capital, LLC, an entity controlled by Kevin Kreisler, the chairman of the Company. If all the Series D shares held by Viridis Capital were converted and exceeded the number of authorized common shares, there would be no contingent factors or events that a third party could bring up that would prevent Mr. Kreisler from authorizing the additional shares. There would be no need to have to go to anyone outside the Company for approval since Mr. Kreisler, through Viridis Capital, is the Company’s majority shareholder. As a result, the share settlement is controlled by the Company and with ASC 815. The Company assessed all other factors in ASC 815 to determine how the conversion feature would be classified.
	SERIES F PREFERRED STOCK
	Effective January 1, 2010, GS CleanTech Corporation, a wholly-owned subsidiary of the Company, executed an Amended and Restated Technology Acquisition Agreement (“TAA”) with Cantrell Winsness Technologies, LLC (“CWT”), David F. Cantrell, David Winsness, Gregory P. Barlage and John W. Davis (the “Sellers”) pursuant to which the parties amended and restated the method of calculating the purchase price for the Company’s corn oil extraction technology (the “Technology”). The TAA provides for the payment by the Company of royalties in connection with the Company’s corn oil extraction technologies, the reduction of those royalties as the Sellers receive payment, and a mechanism for conversion of accrued or prepaid royalties into Company common stock. To achieve this latter mechanism, the Company agreed to issue to the Sellers a one-time prepayment in the form of 1,000,000 shares of redeemable Series F Preferred Stock with a face value of $10 per preferred share. The Series F preferred shares are redeemable at face value and a rate equal to the amount royalties paid or prepaid under the TAA. In addition, the Sellers have the right to convert the Series F preferred shares to pay or prepay royalties at a rate equal to the cash proceeds received by the Sellers upon sale of the common shares issued upon conversion Series F preferred shares. The TAA provides for the payment to the Sellers of an initial royalty fee equal to the lesser of $0.10 per gallon or a percentage of net cash flows, both of which are reduced ratably to $0.025 per gallon upon payment, prepayment or conversion as described above. The Company’s obligations under the TAA are guaranteed by Viridis Capital, LLC, which guarantee was subordinated by the Sellers to the rights of YA Global under its guaranty agreement with Viridis Capital (see Note 9, Guaranty Agreements, above). The Company accounted for the Series F preferred shares in accordance with ASC 480, Distinguishing Liabilities from Equity, as the conversion feature embedded in the convertible Series F preferred shares could result in the preferred shares being converted to a variable number of the Company’s common shares.  The Company determined the value of the Series F preferred shares at the grant date to be $925,926 which represented the estimated value of the preferred shares based on common shares into which they could be converted at the grant date, which included the present value of the conversion feature, which was determined to be $428,381. During the six months ended June 30, 2014, the Company recognized a reduction in conversion liability at present value of $54,411 for royalties paid under the agreement, and recorded an expense of $27,721 for the accretion to fair value at June 30, 2014. The liability for the conversion feature shall increase from its present value of $240,021 at June 30, 2014 to its estimated settlement value of $560,528 at June 10, 2020.
	The only conditions under which the Company would be required to redeem its convertible preferred stock for cash would be in the event of a liquidation of the Company or in the event of a cash-out merger of the Company.
	COMMON STOCK
	The Company completed a 1 for 100 reverse stock split on April 11, 2014. This stock split became effective under applicable laws on April 15, 2014. All stock prices, share amounts, per share information, stock options and stock warrants in this report reflect the impact of the reverse stock split. Every hundred shares of issued and outstanding Company common stock was automatically combined into one issued and outstanding share of common stock, without any change in the par value per share. All fractional shares resulting from the reverse split were rounded to a full share.
	During the six months ended June 30, 2014 and 2013, the Company issued a total of 31,588,354 shares and 1,499,022 shares of common stock, respectively, upon conversion in period of $655,996 and $918,040, respectively, of principal and accrued interest due pursuant to the Company’s various convertible debentures (see Note 8, Debt Obligations, above).

Note_11_Commitments_and_Contin

Note 11 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2014
Notes	'
Note 11 - Commitments and Contingencies	'
	NOTE 11              COMMITMENTS AND CONTINGENCIES
	INFRINGEMENT
	On October 13, 2009, the U.S. Patent and Trademark Office (“PTO”) issued U.S. Patent No. 7,601,858, titled "Method of Processing Ethanol Byproducts and Related Subsystems” (the ’858 Patent) to GS CleanTech Corporation, a wholly-owned subsidiary of GreenShift Corporation. On October 27, 2009, the PTO issued U.S. Patent No. 7,608,729, titled "Method of Freeing the Bound Oil Present in Whole Stillage and Thin Stillage” (the ’729 Patent) to GS CleanTech. Both the ‘858 Patent and the ‘729 Patent relate to the Company’s corn oil extraction technologies.
	On October 13, 2009, GS CleanTech filed a legal action in the United States District Court, Southern District of New York captioned GS CleanTech Corporation v. GEA Westfalia Separator, Inc.; and DOES 1-20, alleging infringement of the ‘858 Patent ("New York I Action"). On October 13, 2009, GS CleanTech filed a Motion to Dismiss with the same court relative to a separate complaint filed previously by Westfalia captioned GEA Westfalia Separator, Inc.  v. GreenShift Corporation that alleged (1) false advertising in violation of the Lanham Act § 43(a); (2) deceptive trade practices and false advertising in violation of New York General Business Law §§ 349, 350 and 350-a; and (3) common law unfair competition ("New York II Action"). On October 13, 2009, Westfalia filed its First Amended Complaint in the New York II Action to include as a plaintiff, ethanol production company Ace Ethanol, LLC , and to add claims seeking a declaratory judgment of invalidity and non-infringement of the ‘858 Patent.  On October 13, 2009, ICM, Inc. filed a complaint in the United States District Court, District of Kansas in the matter captioned ICM, Inc. v. GS CleanTech Corporation and GreenShift Corporation, alleging unfair competition, interference with existing and prospective business and contractual relationships, and deceptive trade practices and also seeking a declaratory judgment of invalidity and non-infringement of the ‘858 Patent.
	On October 15, 2009, in the New York I Action, GS CleanTech filed a Notice of Filing First Amended Complaint for infringement of the ‘858 Patent, along with a copy of the First Amended Complaint, which added ICM, Ace Ethanol, Lifeline Foods LLC and ten additional DOES as defendants in the New York I Action. On October 23, 2009, GS CleanTech's First Amended Complaint in the New York I Action was entered by the court. On November 5, 2009, in ICM’s Kansas lawsuit, GS CleanTech filed a motion to dismiss or, in the alternative, to transfer the Kansas case to New York for inclusion in the New York I Action. Also on November 5, 2009, in ICM’s Kansas lawsuit, ICM filed a motion to enjoin CleanTech and GreenShift from prosecuting the claims against ICM in the New York I Action.
	During February 2010, GS CleanTech commenced a legal action in the United States District Court, Southern District of Indiana captioned GS CleanTech Corporation v. Cardinal Ethanol, LLC, and a separate legal action in the United States District Court, Northern District of Illinois captioned GS CleanTech Corporation v. Big River Resources Galva, LLC and Big River Resources West Burlington, LLC. ICM sold Cardinal and Big River the equipment that each of Cardinal and Big River have used and are using to infringe the ‘858 Patent as alleged by GS CleanTech. ICM has assumed the defense of each of the above matters.
	During May 2010, GS CleanTech commenced the following additional actions: GS CleanTech Corporation v. Lincolnland Agri-Energy, LLC, in the United States District Court, Northern District of Illinois; GS CleanTech Corporation v. Al-Corn Clean Fuel, LLC; Chippewa Valley Ethanol Company, LLLP; Heartland Corn Products, LLC and Bushmills Ethanol, Inc., in the United States District Court, District of Minnesota; GS CleanTech Corporation v. United Wisconsin Grain Producers, LLC, in the United States District Court, Western District of Wisconsin; GS CleanTech Corporation v. Iroquois BioEnergy Company, LLC, in the United States District Court, Northern District of Indiana; GS CleanTech Corporation v. Blue Flint Ethanol, LLC, in the United States District Court, District of North Dakota; and, GS CleanTech Corporation v. Lincolnway Energy, LLC, in the United States District Court, Northern District of Iowa.
	On May 6, 2010, GreenShift submitted a "Motion to Transfer Pursuant to 28 U.S.C. § 1407 for Consolidated Pretrial Proceedings" to the United States Judicial Panel on Multidistrict Litigation (the "Panel") located in Washington, D.C. In this motion, GreenShift moved the Panel to transfer and consolidate all pending suits involving infringement of GreenShift’s patents to one federal court for orderly and efficient review of all pre-trial matters. On August 6, 2010, the Panel ordered the consolidation and transfer of all pending suits in the U.S. District Court, Southern District of Indiana for pretrial proceedings (the "MDL Case").
	On July 14, 2010, GS CleanTech commenced an action entitled GS CleanTech Corporation v. Adkins Energy, LLC, in the United States District Court, Northern District of Illinois alleging infringement of the ‘858 Patent.  On August 4, 2010, Adkins filed an answer to the complaint and included counterclaims seeking a declaratory judgment that Adkins does not infringe the '858 Patent and that the '858 Patent is invalid, and also alleging breach of contract.  On November 30, 2010, the Adkins action was transferred to the MDL Case.
	On October 14, 2010, GS CleanTech commenced an action entitled GS CleanTech Corporation v. Flottweg Separation Technology, Inc. and Flottweg AG, in the United States District Court, District of Connecticut alleging infringement of the ‘858 Patent. On November 15, 2010, GS CleanTech filed an amended complaint alleging that Flottweg Separation Technology, Inc., has infringed the ‘858 Patent.  On November 15, 2010, the Flottweg action was transferred to the MDL Case.
	As part of the MDL Case, on November 15, 2010, GS CleanTech amended its complaint filed in the New York I Action to include a claim of patent infringement personally against the founder, CEO and President of ICM, and ICM amended its complaint filed in the Kansas action to include a claim seeking a declaratory judgment that the '858 Patent is unenforceable. On November 30, 2010, in the MDL Case, GS CleanTech filed a motion to dismiss ICM's amended complaint (including its claim seeking a declaratory judgment that the '858 Patent is unenforceable) or, in the alternative, to transfer the Kansas case to New York for inclusion in the New York I Action.  ICM has opposed the motion to dismiss. On December 10, 2010, in the MDL Case, GS CleanTech filed motions to strike the affirmative defenses that the '858 Patent is unenforceable asserted by Cardinal Ethanol, LLC; Big River Resources Galva, LLC; and Big River Resources West Burlington, LLC; and Lincolnland Agri-Energy, LLC. Each defendant has opposed the respective motion to strike. On February 14, 2011, GS CleanTech notified the court in the MDL Case that it will not be proceeding with a motion for preliminary injunction. On February 24, 2011, in the MDL Case, in connection with its breach of contract counterclaim against GreenShift Corporation, Adkins Ethanol, LLC filed a motion for judgment on the pleadings or in the alternative partial summary judgment on the issue of liability on the issue of breach of contract and partial summary judgment on the issue of damages.   On March 24, 2011, GreenShift filed an opposition to Adkins’ motion.
	All of the parties in the MDL Action filed their respective briefs with the Court in connection with proposed claim construction for certain claim limitations in the '858 Patent.  A hearing on the claim construction matter was then held by the Court in the MDL Action on August 22, 2011. On September 29, 2011, the Court issued its ruling with respect to claim construction.
	On December 2, 2011, the Court clarified its earlier claim construction order.  On February 6, 2012, the Court granted the Company’s motion to amend its various complaints to include the recently issued U.S. Pat. No. 8,008,516 (the “‘516 Patent”).  On February 27, 2012, the Company filed amended complaints alleging that the Defendants infringed the ‘516 Patent.
	On May 23, 2012, several defendants filed motions for summary judgment of noninfringement.  The Company filed oppositions against the defendants’ motions for summary judgment of noninfringement on July 25, 2012, and July 30, 2012, and filed its own motions for summary judgment of infringement on September 14, 2012.  On June 20, 2012, the Company dismissed with prejudice all claims asserted against Amaizing Energy Atlantic, LLC; Amaizing Energy Cooperative; Amaizing Energy Denison, LLC Amaizing  Energy Holding Company pursuant to a settlement agreement.  The Court approved this dismissal on August 1, 2012.
	On August 6, 2012, the Court granted the Company’s motion to amend its various complaints to include the recently issued U.S. Pat. No. 8,168,037 (the “‘037 Patent”).  On August 31 2012, the Company filed amended complaints alleging that certain Defendants infringed the ‘037 Patent.  On November 7, 2012, the Court granted the Company’s motion to amend its various complaints to include other patents directed to similar technology.  On November 9, 2012, the Company filed amended complaints alleging that the Defendants infringed U.S. Pat. No. 8,008,517 (the “‘517 Patent”) and U.S. Pat. No.8,283,484 (the “‘484 patent).
	On November 19, 2012, the Court denied Adkins Energy, LLC’s Motion for judgment on the pleadings or, in the alternative, for partial summary judgment on the issue of liability for breach of contract, and for partial summary judgment on one part of Adkins’ damages.  The Court found that Adkins had not established its substantial performance under the contract or that the Company breached its terms with Adkins.
	On January 29, 2013, the Court issued a supplemental order on claim construction.   Because this order modified the Court’s earlier claim construction, the Court stayed all briefing in the pending summary judgment motions regarding infringement.
	On February 12, 2013, the Company filed a motion for summary judgment against Adkins’ counterclaims of breach of contract (and related defenses).  Adkins filed its opposition on March 22, 2013.  On May 21, 2013, the Court denied the Company’s motion for summary judgment against Adkins’ counterclaims of breach of contract (and related defenses).
	On February 27, 2013, the Court dismissed a number of unfair competition claims asserted by ICM against the Company, but the Court allowed ICM to proceed with a federal Lanham Act claim against the Company.
	On May 8, 2013, the Court issued an order on claim construction for the ‘037 Patent.
	On May 24, 2013, GS CleanTech commenced an action entitled GS CleanTech Corporation v. Pacific Ethanol, Inc., in the United States District Court, Eastern District of California alleging infringement of the ‘858 Patent.  On July 18, 2013, Pacific filed an answer to the complaint and included counterclaims seeking a declaratory judgment that Pacific does not infringe the '858 Patent and that the '858 Patent is invalid and unenforceable.  On August 8, 2013, GS CleanTech answered Pacific’s counterclaims.
	On June 7, 2013, GS CleanTech commenced an action entitled GS CleanTech Corporation v. Guardian Energy, LLC, in the United States District Court, District of Minnesota alleging infringement of the ‘858, ‘516, ‘517, and ‘484 Patents.
	On July 12, 2013, GS CleanTech commenced an action entitled GS CleanTech Corporation v. Western New York Energy, LLC, in the United States District Court, Western District of New York alleging infringement of the ‘858, ‘516, ‘517, and ‘484 Patents.
	On July 19, 2013, GS CleanTech commenced an action entitled GS CleanTech Corporation v. Little Sioux Corn Processors, LLLP, in the United States District Court, Northern District of Iowa alleging infringement of the ‘858, ‘516, ‘517, and ‘484 Patents.
	On August 5, 2013, GS CleanTech commenced an action entitled GS CleanTech Corporation v. Southwest Iowa Renewable Energy, LLC, in the United States District Court, Southern District of Iowa alleging infringement of the ‘858, ‘516, ‘517, and ‘484 Patents.
	On August 10, 2013, GS CleanTech commenced an action entitled GS CleanTech Corporation v. Homeland Energy Solutions, LLC, in the United States District Court, Northern District of Iowa alleging infringement of the ‘858, ‘516, ‘517, ‘484 and ‘037 Patents.
	On September 10, 2013, GS CleanTech commenced an action entitled GS CleanTech Corporation v. Aemetis, Inc. and Aemetis Advanced Fuels Keyes, Inc., in the United States District Court, Southern District of Indiana alleging infringement of the ‘858 Patent.   On September 13, 2013, Aemetis filed an answer to the complaint and included counterclaims seeking a declaratory judgment that Aemetis does not infringe the '858 Patent and that the '858 Patent is invalid and unenforceable.
	These cases with Defendants Pacific Ethanol, Inc.; Guardian Energy, LLC; Western New York Energy, LLC; Little Sioux Corn Processors, LLLP; Southwest Iowa Renewable Energy, LLC; Aemetis, Inc.; and Aemetis Advanced Fuels Keyes, Inc. have all been consolidated as “Tag-Along” cases for pre-trial proceedings in the current MDL in the United States District Court, Southern District of Indiana.  On January 21, 2014, the Tag-Along Defendants Guardian Energy, LLC; Western New York Energy, LLC; Little Sioux Corn Processors, LLLP; Southwest Iowa Renewable Energy, LLC filed their Answers denying infringement.
	On March 14, 2014, the Tag-Along Defendants stipulated that they adopted the claim construction arguments regarding the patents-in-suit made by the earlier MDL Defendants.  Discovery is ongoing with the Tag-Along Defendants.
	On July 23, 2013, GS CleanTech filed motions for summary judgment of infringement of the ‘858, ‘516, ‘517, and ‘484 Patents against the following defendants: Ace Ethanol, LLC, Adkins Energy, LLC, Al-Corn Clean Fuel, Big River Resources Galva, LLC, Big River Resources West Burlington, LLC, Blue Flint Ethanol, LLC, Bushmills Ethanol, Inc., Cardinal Ethanol, LLC, Chippewa Valley Ethanol Company, LLLP, Heartland Corn Products, Iroquois Bio-Energy Company, LLC, Lincolnland Agri-Energy, LLC, Lincolnway Energy LLC, and United Wisconsin Grain Producers, LLC.
	On September 23, 2013, the above Defendants filed their oppositions (and cross-motions) asserting their non-infringement and invalidity positions regarding the ‘858, ‘516, ‘517, and ‘484 Patents.  On November 22, 2013, GS CleanTech filed its reply in support of infringement and opposition (and cross-motions) regarding invalidity of the ‘858, ‘516, ‘517, and ‘484 Patents.  On January 17, 2014, the above Defendants filed their reply in support of their motions for invalidity and their opposition to GS CleanTech’s motion for summary judgment of infringement.  On January 16, 2014, Defendants Iroquois, GEA Mechanical, Adkins, and Lincolnway filed separate replies in support of their various motions and oppositions regarding noninfringement and invalidity.  On January 16, 2014, Defendant Al-Corn filed its separate reply in support of its motion and opposition regarding noninfringement.  On February 18, 2014, GS CleanTech filed a surreply opposing Defendants’ Joint Motion for Summary Judgment of Invalidity and to Dismiss Plaintiff's Claim for Provisional Remedies and Damages for Willful Infringement.  On February 18, 2014, GS CleanTech also filed a surreply in support of its motions for summary judgment of infringement against Heartland Corn Products, Chippewa Valley Ethanol Company, LLLP, Lincolnway Energy LLC, Cardinal Ethanol, LLC, Blue Flint Ethanol, LLC, Big River Resources West Burlington, LLC, Big River Resources Galva, LLC, Al-Corn Clean Fuel, Lincolnland Agri-Energy, LLC, Adkins Energy, LLC, Ace Ethanol, LLC, Iroquois Bio-Energy Company, LLC, Bushmills Ethanol, Inc., and United Wisconsin Grain Producers, LLC.  Finally on February 18, 2014, GS CleanTech also filed its reply in support of its cross-motions of no invalidity under 35 U.S.C. § 112.
	On October 23, 2013, GS CleanTech filed a motion for summary judgment of infringement of the ‘037 Patent against Defendants Big River Resources Galva, LLC, Big River Resources West Burlington, LLC, Blue Flint Ethanol, LLC, Cardinal Ethanol, LLC, Lincolnland Agri-Energy, LLC, and Lincolnway Energy LLC.  On December 31, 2013, Defendants Big River Resources Galva, LLC, Big River Resources West Burlington, LLC, Blue Flint Ethanol, LLC, Cardinal Ethanol, LLC, Flottweg Separation Tech., Inc., ICM, Inc., Lincolnland Agri-Energy, LLC, and Lincolnway Energy LLC filed a joint motion for summary judgment of invalidity and noninfringement of the ‘037 Patent.  On February 28, 2014, GS CleanTech filed its reply in support of its motion for summary judgment of infringement of the ‘037 Patent, its opposition to the ‘037 Defendants’ motion for summary judgment of invalidity of the ‘037 Patent, and its cross-motions for summary judgment of no invalidity under 35 U.S.C. § 112 and § 102(e).  On April 14, 2014, Defendants filed their reply in support of their summary judgment of invalidity and opposition to CleanTech’s motion for summary judgment of infringement of the ‘037 patent.  On April 24, 2014 CleanTech filed a surreply in response.  The ‘037 Defendants responded to the surreply on April 30, 2014.
	On March 18, 2014, CleanTech commenced an action against Pacific Ethanol Stockton LLC alleging infringement of the ‘858 patent in the United States District Court for the Eastern District of California, Case No. 2:14-cv-00711-JAM-EFB.  On March 18, 2014, CleanTech commenced an action against Pacific Ethanol Magic Valley LLC, ICM, Inc., and David Vander Griend alleging infringement of the ‘858, ‘516, ‘517, and ‘484 patents in the United States District Court for the District of Idaho, Case No. 4:14-cv-00108-BLW.  On April 4, 2014, these two new cases against were transferred to the multidistrict litigation as Tag-Along cases 1:14-cv-08019-LJM-DML (PE Stockton) and 1:14-cv-08020-LJM-DML (PE Magic Valley).
	On June 4, 2014, Stockton answered the complaint and filed counterclaims alleging noninfringement, invalidity, and unenforceability of the patents-in-suit.  On May 29, 2014, Magic Valley and ICM answered the Complaint.  On June 2, 2014, David Vander Griend moved to dismiss the complaint based on lack of personal jurisdiction in Idaho.  CleanTech filed its opposition on June 19, 2014.  On July 22, 2014, the Court granted Vander Griend’s motion to dismiss and dismissed Vander Griend from the Magic Valley case.
	On June 20, 2014, CleanTech filed an assented to motion to amend the complaint against Aemetis Inc and Aemetis Advanced Fuels Keyes, Inc. to add the ‘516, ‘517, ‘484, and ‘037 patents.  On June 25, 2014, the Court granted the motion to amend.  Aemetis answered the amended complaint on July 16, 2014.
	Also on June 20, 2014, CleanTech filed a motion to amend the complaint against Guardian and to add the ‘037 patent and co-defendants ICM, Inc. and David Vander Griend.  Guardian filed its opposition on July 7, 2014.  CleanTech filed its reply in support on July 17, 2014.
	On July 29, 2014, CleanTech filed motions to amend its complaints against (1) LSCP to add ICM; (2) WNYE to add the ‘037 patent and ICM; and (3) SIRE to add the ‘037 patent and ICM.
	There have been no other substantive rulings on the merits on any of the actions included in the MDL Case and Management is unable to characterize or evaluate the probability of any outcome at this time. The Company intends to take all necessary steps to bring infringement of its patents to an end, including filing additional lawsuits involving any and all infringing use of the Company’s patents. The Company further plans to seek additional relief for instances of willful infringement. The Company’s position is that any infringing ethanol producer is liable for any infringing use of the Company’s patented technologies beginning on the publication date of the application that led to the ‘858 Patent.
	OTHER MATTERS
	The Company’s subsidiary, GS COES (Yorkville I), LLC, is a party to an action entitled Nosan, et at v. GS COES (Yorkville I), LLC, et. al., previously pending in Lenawee County, Michigan Circuit Court Case No. 11-4069-CK, an action by nineteen plaintiffs to recover on a guarantee by the subsidiary secured by a pledge of Net Cash Flow from corn oil production at two Michigan facilities, as credit support for a bridge loan arrangement under which a variety of lenders claim to be owed the aggregate principal amount of $1,734,579, plus interest for claimed breach of their subordinated loan to GS CleanTech Corporation. The parties have briefed the issues on appeal and oral argument is scheduled for April 2, 2014.  GS COES intends to continue to vigorously defend this action.  In the event of the reversal of the trial court’s ruling on appeal, we cannot evaluate the likelihood of an unfavorable outcome at this time.  In the event of an adverse judgment, damages could range from $2,500,000 to $3,500,000.
	GreenShift Corporation, GS CleanTech Corporation, and (non-party) GS COES are parties to an action entitled Nosan, et al. v. GS CleanTech, GreenShift Corporation, YA Global Investments, LP, and Green Plains Commodities LLC, previously pending in the Lenawee County, Michigan Circuit Court as Case No. 11-4292-CK, a case filed by the same nineteen plaintiffs as a companion case to Case No. 11-4069-CK. The Plaintiffs filed this action after the Court denied their request to file an Amended Complaint against GS CleanTech Corporation, GreenShift Corporation, YA Global Investments, and Green Plains Commodities, LLC in Case No. 11-4069-CK. The Complaint alleges that GS CleanTech Corporation breached its obligation to repay the same $1,734,579 loan. The Complaint also alleges that the Defendants violated the Plaintiffs' claimed security interest and improperly sold the corn oil extraction equipment. In addition to the claims for breach of the notes, the Complaint includes claims for civil conspiracy, specific performance and declaratory judgment, contract implied in law/unjust enrichment, and conversion. Pursuant to the Asset Purchase Agreement entered into between GS COES and Green Plains Commodities, LLC, GS COES has agreed to assume the defense of Green Plains Commodities, LLC in this action. This case was dismissed by the trial court on July 2, 2012 based on the principles of res judicata and collateral estoppel, in light of the Court's ruling in case No. 11-4069-CK, and Plaintiffs filed an appeal with the Michigan Court of Appeals. The case is now before the Michigan Court of Appeals and all parties are awaiting a decision after briefing and oral arguments. GS COES intends to continue to vigorously defend this action. At this stage, we cannot evaluate the likelihood of an unfavorable outcome. In the event of an adverse judgment, damages could range from $2,500,000 to $3,500,000.
	GreenShift Corporation, GS CleanTech Corporation and GS COES (Yorkville I), LLC, was party to the matter captioned Dynalectric of Michigan II, Inc. v. Biofuels Industries Group, et al, Lenawee County, Michigan Circuit Court Case No. 09-3584-CK.  This case was consolidated with Case Nos. 09-3479-CK and 09-3321-CK, which also involved the collection of construction lien claimants (Overhead Door and Detroit Boiler) related to BIG. The parties entered into a settlement agreement covering all the pending claims on December 17, 2013, pursuant to which the GreenShift entities agreed to pay the BIG bankruptcy trustee the sum of $125,000 in exchange for a release of all claims, subject to bankruptcy court approval.  GreenShift paid the settlement amount in 2013. The bankruptcy court approved the settlement on March 4, 2014, and the parties are in the process of concluding the settlement.
	The Company’s former subsidiary GS Agrifuels Corp. is party to Max v. GS Agrifuels Corp., et al. now pending in the Supreme Court, New York County, in which the plaintiffs are asserting claims to money damages against the Company and other defendants, arising from a series of “Share Purchase Agreements” dated March 6, 2007, under which the individual plaintiffs sold their shares in a company called “Sustainable Systems, Inc” to GS Agrifuels Corporation.  In their Amended Complaint, plaintiffs asserted claims for breach of contract, fraud and negligent misrepresentation, and sought money damages on the amount of $6 million 6,000,000.  In a Decision and Order dated March 19, 2013, the Court granted in part the defendants’ motion to dismiss the Amended Complaint, and dismissed all but the breach of contract claims asserted against the Company and certain other corporate defendants.  The plaintiffs have filed a Notice of Appeal from the Decision and Order, and have indicated that they intend to perfect their appeal. On October 30, 2013, the defendants filed a motion for summary judgment dismissing the plaintiffs’ remaining claims for breach of contract.  The plaintiffs have opposed the motion for summary judgment, and the motion is scheduled for oral argument in May 2014.  There is no way to predict whether the motion for summary judgment will be granted and, if it is, whether the plaintiffs will take an appeal and be successful in the appellate court.  If the motion for summary judgment is denied, the case is likely to proceed to trial.  If the case proceeds to trial, we cannot offer any opinion as to the likelihood of a favorable outcome or, if the outcome is unfavorable, the amount or range of potential loss.  It is, however, our understanding that management intends to continue to vigorously defend and litigate the matter.
	On June 28, 2010 JMJ Financials commenced an action entitled JMJ Financial v. GreenShift et. al., in the Circuit Court of the 11th Judicial Circuit in and for Miami-Dade County, State of Florida, alleging breach of contract and other causes of action for which the plaintiff seeks damages of about $300,000 plus costs. In January 2013 judgment in the amount of $600,026 was entered by default against GreenShift and its co-defendants.  The Company has agreed to pay $350,000 in full settlement and release of any obligations. The Company made payments totaling $189,583 during 2013, with eight monthly remaining payments of $14,583 due through November 2014.  The settlement and release will be effective as long as the required payments are made timely or defaults due to late payment are cured within five days of the written notice of default has been sent. The Company is permitted two events of default under the terms of the settlement.
	On September 10, 2012, Long Side Ventures commenced an action entitled Long Side Ventures and Sunny Isles Ventures, LLC, LLC v. GreenShift et. al., in the United States District Court for the Southern District of New York, alleging breach of contract and other causes of action for which the plaintiff seeks damages of about $250,000 plus costs. The Company intends to vigorously defend this action. At this stage of the proceedings, we cannot evaluate the likelihood of an unfavorable outcome in excess of the amounts previously accrued.
	On October 10, 2013, Golden Technology Management, LLC, and other plaintiffs commenced an action entitled Golden Technology Management, LLC, et al. v. NextGen Acquisition, Inc. et al. in the Supreme Court of the State of New York, County of New York, alleging breach of contract and other causes of action against the Company in connection with the acquisition of NextGen Fuel, Inc. by a former indirect subsidiary.  Plaintiffs seek damages in excess of $5,200,000 plus prejudgment interest and costs.  The Company intends to vigorously defend this action. At this stage of the proceedings, we cannot evaluate the likelihood of an unfavorable outcome in excess of the amounts previously accrued.
	Under the Company’s insurance programs, coverage is obtained for catastrophic exposures, as well as those risks required to be insured by law or contract. There is a $2,500 deductible per occurrence for environmental impairments. Environmental liability insurance is carried with policy limits of $1,000,000 per occurrence and $2,000,000 aggregate.
	The Company is party to employment agreements with Kevin Kreisler, formerly the Company’s Chairman, Ed Carroll, the Company’s Chief Executive Officer and Chief Financial Officer, David Winsness, the Company’s Chief Technology Officer, Greg Barlage, the Company’s Chief Operating Officer, and Richard Krablin, the Company’s Vice President. Each agreement also included terms for reimbursement of expenses, periodic bonuses, four weeks’ vacation and participation in any employee benefits provided to all employees of GreenShift Corporation.
	The Company’s Articles of Incorporation provide that the Company shall indemnify its officers, directors, employees and agents to the full extent permitted by Delaware law. The Company’s Bylaws include provisions to indemnify its officers and directors and other persons against expenses (including attorney’s fees, judgments, fines and amounts paid for settlement) incurred in connection with actions or proceedings brought against them by reason of their serving or having served as officers, directors or in other capacities.  The Company does not, however, indemnify them in actions in which it is determined that they have not acted in good faith or have acted unlawfully. The Company is further subject to various indemnification agreements with various parties pursuant to which the Company has agreed to indemnify and hold such parties harmless from and against expenses and costs incurred (including attorney’s fees, judgments, fines and amounts paid for settlement) in connection with the provision by such parties of certain financial accommodations to the Company. Such parties indemnified by the Company include YA Global Investments, L.P., YA Corn Oil Systems, LLC, Viridis Capital, LLC, Minority Interest Fund (II), LLC, Acutus Capital, LLC, and various family members of the Company’s chairman that have provided the Company with cash investments.

Note_12_Related_Party_Transact

Note 12 - Related Party Transactions	6 Months Ended
	Jun. 30, 2014
Notes	'
Note 12 - Related Party Transactions	'
	NOTE 12              RELATED PARTY TRANSACTIONS
	Minority Interest Fund (II), LLC (“MIF”) is party to certain convertible debentures issued by the Company (see Note 8, Debt Obligations, above). The managing member of MIF is a relative of the Company’s chairman.
	Viridis Capital LLC (“Viridis”) is party to certain convertible debentures issued by the Company (see Note 8, Debt Obligations, above). The managing member of Viridis is the Company’s chairman, Kevin Kreisler.
	The Company entered into agreements with MIF and Viridis to amend and restate the terms of the MIF Debenture and Viridis Debenture effective September 30, 2011 to extend the maturity date to June 30, 2013; to eliminate and contribute $502,086 in accrued interest and $1,065,308 of principal; to reduce the applicable interest rate to 6% per annum; to eliminate MIF’s and Viridis’ right to convert amounts due at a discount to the market price of the Company’s common stock; and to reverse various non-cash assignments of debt involving related parties (see Note 8, Debt Obligations, above). The restated balances due to MIF and Viridis at September 30, 2011, were $3,017,061 and $237,939, respectively. No interest was payable to either MIF or Viridis after these amendments. In addition, the balances of convertible debt due to Acutus Capital, LLC (“Acutus”) and family members of the Company’s chairman were amended and restated at September 30, 2011, to $1,090,000 and $351,000, respectively, in connection with cash investments previously provided to the Company. The terms of these debentures provide for interest at 6% per annum, a maturity date of June 30, 2013, and the right to convert amounts due into Company common stock at 100% of the market price for the Company’s common stock at the time of conversion. MIF received 62,500 shares of Series D Preferred Stock in partial consideration of the contribution of principal and accrued interest and the various other modified terms of MIF’s agreements with the Company. The foregoing debentures are subject to conditions which limit the transfer of shares issued upon conversion to 5% of the average monthly volume for the Company’s common stock.
	Between January 1, 2008 and December 31, 2010, Viridis, MIF, Acutus, and management personnel provided the Company with the cash resources we needed for our overhead needs, including all legal expenses incurred in the prosecution of infringing use of our patented technologies. Viridis is owned by our chairman, MIF is owned by a family member of our chairman, and Acutus is owned by our chairman's attorney. In addition, Viridis has guaranteed all of the Company’s debt due to YA Global and all amounts due to Cantrell Winsness Technologies, LLC, in connection with the acquisition by the Company’s subsidiary of its patented and patent-pending extraction technologies (see Note 9, Guaranty Agreements, above). The Company has separately agreed to indemnify and hold Viridis and its affiliates harmless from any and all losses, costs and expenses incurred by Viridis and its affiliates in connection with its and their various investments with the Company as well as Viridis’ guarantees of Company’s obligations. During the year ended December 31, 2013, the Company paid an indemnification obligation to Viridis of $450,000, $250,000 of which was paid in the form of a debenture (see Note 8, Debt Obligations, above). These amounts are shown as other expense in the accompanying financial statements. The Company has agreed to indemnify and hold Viridis harmless from any and all losses, costs and expenses incurred by Viridis in connection with its guaranty of the Company’s obligations and its investments with the Company.
	Effective January 1, 2010, GS CleanTech Corporation, a wholly-owned subsidiary of the Company, executed an Amended and Restated Technology Acquisition Agreement (“TAA”) with Cantrell Winsness Technologies, LLC (“CWT”), David F. Cantrell, David Winsness, Gregory P. Barlage and John W. Davis (the “Sellers”) pursuant to which the parties amended and restated the method of calculating the purchase price for the Company’s corn oil extraction technology (the “Technology”). The TAA provides for the payment by the Company of royalties in connection with the Company’s corn oil extraction technologies, the reduction of those royalties as the Sellers receive payment, and a mechanism for conversion of accrued or prepaid royalties into Company common stock. To achieve this latter mechanism, the Company agreed to issue to the Sellers a one-time prepayment in the form of 1,000,000 shares of redeemable Series F Preferred Stock (“CWT Preferred Shares”) with a face value of $10 per preferred share (see Note 10, Shareholders’ Equity, above). The CWT Preferred Shares are redeemable at face value and a rate equal to the amount royalties paid or prepaid under the TAA. In addition, the Sellers have the right to convert the CWT Preferred Shares to pay or prepay royalties at a rate equal to the cash proceeds received by the Sellers upon sale of the common shares issued upon conversion CWT Preferred Shares. The TAA provides for the payment to the Sellers of an initial royalty fee equal to the lesser of $0.10 per gallon or a percentage of net cash flows, both of which are reduced ratably to $0.025 per gallon upon payment, prepayment or conversion as described above. The Company’s obligations under the TAA are guaranteed by Viridis Capital, LLC, which guarantee was subordinated by the Sellers to the rights of YA Global under its guaranty agreement with Viridis Capital (see Note 9, Guaranty Agreement, above).

Note_13_Supplemental_Disclosur

Note 13 - Supplemental Disclosure of Cash Flow Information	6 Months Ended
	Jun. 30, 2014
Notes	'
Note 13 - Supplemental Disclosure of Cash Flow Information	'
	NOTE 13              SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
	The following is a summary of supplemental disclosures of cash flow information for the six months ended June 30, 2014 and 2013:
			6/30/14		6/30/13
	Cash paid for the following:
	Interest	$	--	$	--
	Taxes		30		59,139
	Total		30		59,139
	Non-Cash Investing and Financing Activities
	Performance bonuses applied to convertible debentures	$	--	$	--
	Debentures converted into common stock		608,968		825,228
	Forgiveness of affiliate payable		--		--
	Forgiveness of affiliate receivable charged against paid in capital		60,000		5,793

Note_1_Basis_of_Presentation_R

Note 1 - Basis of Presentation: References To The Company (Policies)	6 Months Ended
	Jun. 30, 2014
Policies	'
References To The Company	'
	REFERENCES TO THE COMPANY
	In this Quarterly Report on Form 10-Q, the terms “we,” “our,” “us,” “GreenShift,” or the “Company” refer to GreenShift Corporation, and its subsidiaries on a consolidated basis. The term “GreenShift Corporation” refers to GreenShift Corporation on a standalone basis only, and not its subsidiaries.
	The condensed balance sheet at December 31, 2013 was derived from audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America. The other information in these condensed financial statements is unaudited but, in the opinion of management, reflects all adjustments necessary for a fair presentation of the results for the periods covered. All such adjustments are of a normal recurring nature unless disclosed otherwise. These condensed financial statements, including notes, have been prepared in accordance with the applicable rules of the Securities and Exchange Commission and do not include all of the information and disclosures required by accounting principles generally accepted in the United States of America for complete financial statements. These condensed financial statements should be read in conjunction with the financial statements and additional information as contained in our Annual Report on Form 10-K for the year ended December 31, 2013.

Note_1_Basis_of_Presentation_C

Note 1 - Basis of Presentation: Consolidated Financial Statements (Policies)	6 Months Ended
	Jun. 30, 2014
Policies	'
Consolidated Financial Statements	'
	CONSOLIDATED FINANCIAL STATEMENTS
	The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, and entities which we control. All significant intercompany balances and transactions have been eliminated on a consolidated basis for reporting purposes.

Note_1_Basis_of_Presentation_U

Note 1 - Basis of Presentation: Use of Estimates in The Preparation of Consolidated Financial Statements (Policies)	6 Months Ended
	Jun. 30, 2014
Policies	'
Use of Estimates in The Preparation of Consolidated Financial Statements	'
	USE OF ESTIMATES IN THE PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS
	The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles, or GAAP, requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Note_4_Significant_Accounting_1

Note 4 - Significant Accounting Policies: Segment Information (Policies)	6 Months Ended
	Jun. 30, 2014
Policies	'
Segment Information	'
	SEGMENT INFORMATION
	We determined our reporting units in accordance with FASB ASC 280, “Segment Reporting” (“ASC 280”). We evaluate a reporting unit by first identifying its operating segments under ASC 280. We then evaluate each operating segment to determine if it includes one or more components that constitute a business. If there are components within an operating segment that meet the definition of a business, we evaluate those components to determine if they must be aggregated into one or more reporting units. If applicable, when determining if it is appropriate to aggregate different operating segments, we determine if the segments are economically similar and, if so, the operating segments are aggregated. We have one operating segment and reporting unit. We operate in one reportable business segment; we provide technologies and related products and services to U.S.-based ethanol producers. We are organized and operated as one business. We exclusively sell our technologies, products and services to ethanol producers that have entered into license agreements with the Company. No sales of any kind occur, and no costs of sales of any kind are incurred, in the absence of a license agreement. A single management team that reports to the chief operating decision maker comprehensively manages the entire business. We do not operate any material separate lines of business or separate business entities with respect to our technologies, products and services. The Company does not accumulate discrete financial information according to the nature or structure of any specific technology, product and/or service provided to the Company’s licensees. Instead, management reviews its business as a single operating segment, using financial and other information rendered meaningful only by the fact that such information is presented and reviewed in the aggregate. Discrete financial information is not available by more than one operating segment, and disaggregation of our operating results would be impracticable.

Note_4_Significant_Accounting_2

Note 4 - Significant Accounting Policies: Revenue Recognition (Policies)	6 Months Ended
	Jun. 30, 2014
Policies	'
Revenue Recognition	'
	REVENUE RECOGNITION
	The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable, and collection is reasonably assured. The Company recognizes revenue from licensing of the Company’s corn oil extraction technologies when corn oil sales occur. Licensing royalties are recognized as earned by calculating the royalty as a percentage of gross corn oil sales by the ethanol plants. For the purposes of assessing royalties, the sale of corn oil is deemed to occur when shipped, which is when four basic criteria have been met: (i) persuasive evidence of a customer arrangement; (ii) the price is fixed or determinable; (iii) collectability is reasonably assured, and (iv) product delivery has occurred, which is generally upon shipment to the buyer of the corn oil. Deposits from customers are not recognized as revenues, but as liabilities, until the following conditions are met: revenues are realized when cash or claims to cash (receivable) are received in exchange for goods or services, or when assets received in such exchange are readily convertible to cash or claim to cash, or when such goods or services are transferred. When an income item is earned, the related revenue item is recognized and any deferred revenue is reduced. To the extent revenues are generated from the Company’s licensing support services, the Company recognizes such revenues when the services are completed and billed. The Company provides process engineering services on fixed price contracts.  These services are generally provided over a short period of less than three months.  Revenue from fixed price contracts is recognized on a pro rata basis over the life of the contract as they are generally performed evenly over the contract period. The Company additionally performs under fixed-price contracts involving design, engineering, procurement, installation, and start-up of oil recovery and other production systems. Revenues and fees on these contracts are recognized using the percentage-of-completion method of accounting, and specifically the efforts-expended percentage-of-completion method using measures such as task duration and completion. The efforts-expended approach is used in situations where it is more representative of progress on a contract than the cost-to-cost or the labor-hours methods. The asset, “costs and estimated earnings in excess of billings on uncompleted contracts,” represents revenues recognized in excess of amounts billed. The liability, “billings in excess of costs and estimated earnings on uncompleted contracts,” represents billings in excess of revenues recognized.

Note_4_Significant_Accounting_3

Note 4 - Significant Accounting Policies: Basic and Diluted Income (loss) Per Share (Policies)	6 Months Ended
	Jun. 30, 2014
Policies	'
Basic and Diluted Income (loss) Per Share	'
	BASIC AND DILUTED INCOME (LOSS) PER SHARE
	The Company computes its net income or loss per common share under the provisions of ASC 260, “Earnings per Share,” whereby basic net income or loss per share is computed by dividing the net loss for the period by the weighted-average number of shares of common stock outstanding during the period. Dilutive net loss per share excludes potential common shares issuable upon conversion of all derivative securities if the effect is anti-dilutive. Thus, common stock issuable upon exercise or conversion of options, warrants, convertible preferred stock, or convertible debentures are excluded from computation of diluted net loss per share, but are included in computation of diluted net income per share. During the three and six months ended June 30, 2014 , we reported net income and accordingly included potentially dilutive instruments in the fully diluted net income per share calculation. However, during the three months and six ended June 30, 2013, we reported net losses and, in accordance with ASC 260, dilutive instruments were excluded from the net loss per share calculation for such periods.

Note_4_Significant_Accounting_4

Note 4 - Significant Accounting Policies: Financial Instruments Policy (Policies)	6 Months Ended
	Jun. 30, 2014
Policies	'
Financial Instruments Policy	'
	FINANCIAL INSTRUMENTS
	The carrying values of accounts receivable, other receivables, accounts payable and accrued expenses approximate their fair values due to their short term maturities. The carrying values of the Company’s long-term debt approximate their fair values based upon a comparison of the interest rate and terms of such debt to the rates and terms of debt currently available to the Company. It was not practical to estimate the fair value of the convertible debt. In order to do so, it would be necessary to obtain an independent valuation of these unique instruments. The cost of that valuation would not be justified in light of the materiality of the instruments to the Company.

Note_4_Significant_Accounting_5

Note 4 - Significant Accounting Policies: Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2014
Policies	'
Recent Accounting Pronouncements	'
	RECENT ACCOUNTING PRONOUNCEMENTS
	Management does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying financial statements.

Note_5_Fair_Value_Disclosures_

Note 5 - Fair Value Disclosures: Fair Value Measurement, Policy (Policies)	6 Months Ended
	Jun. 30, 2014
Policies	'
Fair Value Measurement, Policy	'
	Effective July 1 2009, the Company adopted ASC 820, Fair Value Measurements and Disclosures. This topic defines fair value for certain financial and nonfinancial assets and liabilities that are recorded at fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. This guidance supersedes all other accounting pronouncements that require or permit fair value measurements.  The Company accounted for the convertible debentures in accordance with ASC 480, Distinguishing Liabilities from Equity, as the conversion feature embedded in the convertible debentures could result in the note principal and related accrued interest being converted to a variable number of the Company’s common shares.
	Effective July 1 2009, the Company adopted ASC 820-10-55-23A, Scope Application to Certain Non-Financial Assets and Certain Non-Financial Liabilities, delaying application for non-financial assets and non-financial liabilities as permitted. ASC 820 establishes a framework for measuring fair value, and expands disclosures about fair value measurements. In January 2010, the FASB issued an update to ASC 820, which requires additional disclosures about inputs into valuation techniques, disclosures about significant transfers into or out of Levels 1 and 2, and disaggregation of purchases, sales, issuances, and settlements in the Level 3 rollforward disclosure.
	ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows:
	Level 1	quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access as of the measurement date. Financial assets and liabilities utilizing Level 1 inputs include active exchange-traded securities and exchange-based derivatives
	Level 2	inputs other than quoted prices included within Level 1 that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data. Financial assets and liabilities utilizing Level 2 inputs include fixed income securities, non-exchange-based derivatives, mutual funds, and fair-value hedges
	Level 3	unobservable inputs for the asset or liability only used when there is little, if any, market activity for the asset or liability at the measurement date. Financial assets and liabilities utilizing Level 3 inputs include infrequently-traded, non-exchange-based derivatives and commingled investment funds, and are measured using present value pricing models

Note_6_Inventories_Inventories

Note 6 - Inventories: Inventories Policy (Policies)	6 Months Ended
	Jun. 30, 2014
Policies	'
Inventories Policy	'Inventories are stated at the lower of cost or market, with cost being determined by the specific identification method. Inventories at June 30, 2014 and December 31, 2013 were $685,533 and $1,145,533, respectively.

Note_7_Deferred_Revenue_Deferr

Note 7 - Deferred Revenue: Deferred Revenue Recognition Policy (Policies)	6 Months Ended
	Jun. 30, 2014
Policies	'
Deferred Revenue Recognition Policy	'
	Deposits from customers are not recognized as revenues, but as liabilities, until the following conditions are met: revenues are realized when cash or claims to cash (receivable) are received in exchange for goods or services or when assets received in such exchange are readily convertible to cash or claim to cash or when such goods/services are transferred. When such income item is earned, the related revenue item is recognized, and the deferred revenue is reduced. To the extent revenues are generated from the Company’s licensing support services, the Company recognizes such revenues when services are completed and billed.

Note_5_Fair_Value_Disclosures_1

Note 5 - Fair Value Disclosures: Fair Value, Assets Measured on Recurring Basis (Tables)	6 Months Ended
	Jun. 30, 2014
Tables/Schedules	'
Fair Value, Assets Measured on Recurring Basis	'
	Embedded conversion liabilities as of June 30, 2014:
	Level 1	$	--
	Level 2		--
	Level 3		2,010,853
	Total	$	2,010,853

Note_5_Fair_Value_Disclosures_2

Note 5 - Fair Value Disclosures: Schedule Of Balance Of Embedded Derivatives (Tables)	6 Months Ended
	Jun. 30, 2014
Tables/Schedules	'
Schedule Of Balance Of Embedded Derivatives	'
	Balance of embedded derivatives at December 31, 2013	$	2,646,118
	Present value of beneficial conversion features of new debentures		134,563
	Accretion adjustments to fair value – beneficial conversion features		32,299
	Reductions in fair value due to repayments/redemptions		(346,537	)
	Gain on extinguishment related to conversion feature		(400,804	)
	Reductions in fair value due to principal conversions		(54,785	)
	Balance at June 30, 2014	$	2,010,320

Note_8_Debt_Obligations_Schedu

Note 8 - Debt Obligations: Schedule of Debt (Tables)	6 Months Ended
	Jun. 30, 2014
Tables/Schedules	'
Schedule of Debt	'
			6/30/14
	Current portion of long term debt:
	Mortgages and other term notes	$	21,743
	Current portion of notes payable		1,345,302
	Total current portion of long term debt	$	1,367,045
	Current portion of convertible debentures:
	YA Global Investments, L.P., 6% interest, conversion at 90% of market	$	15,393,660
	Better Half Bloodstock, Inc., 0% interest, conversion at 90% of market		50,000
	Circle Strategic Allocation Fund, LP, 6% interest, conversion at 90% of market		51,156
	Dakota Capital Pty Limited, 6% interest, conversion at 90% of market		806,674
	EFG Bank, 6% interest, conversion at 90% of market		149,301
	Empire Equity, 6% interest, conversion at 90% of market		125,000
	Epelbaum Revocable Trust, 6% interest, conversion at 90% of market		115,509
	Highland Capital, 6% interest, conversion at 90% of market		110,000
	JMC Holdings, LP, 6% interest, conversion at 90% of market		177,695
	Dr. Michael Kesselbrenner, 6% interest, conversions at 90% of market		14,537
	May Davis, 6% interest, conversion at 90% of market		26,671
	David Moran & Siobhan Hughes, 6% interest, conversion at 90% of market		3,036
	Morano, LLC, 6% interest, no conversion discount		33,320
	Susan Schneider, 6% interest, conversions at 90% of market		13,304
	Minority Interest Fund (II), LLC, 6% interest, no conversion discount		2,281,199
	Viridis Capital, LLC, 6% interest, conversion at 50% of market		100,000
	Related Party Debenture, 6% interest, no conversion discount		156,750
	Conversion liabilities		1,770,832
	Total convertible debentures	$	21,378,643
	Long term convertible debentures:
	Gerova Asset Backed Holdings, LP, 2% interest, no conversion discount		175,000
	Total long term convertible debentures	$	175,000

Note_8_Debt_Obligations_Schedu1

Note 8 - Debt Obligations: Schedule of Company's ability to fulfill its fixed debt service requirements (net of note discounts) (Tables)	6 Months Ended
	Jun. 30, 2014
Tables/Schedules	'
Schedule of Company's ability to fulfill its fixed debt service requirements (net of note discounts)	'
	Year		Amount
	2014	$	20,974,856
	2015		--
	2016		--
	2017		--
	2018		175,000
	Thereafter		--
	Total minimum payments due under current and long term obligations	$	21,149,856

Note_13_Supplemental_Disclosur1

Note 13 - Supplemental Disclosure of Cash Flow Information: Schedule of Cash Flow, Supplemental Disclosures (Tables)	6 Months Ended
	Jun. 30, 2014
Tables/Schedules	'
Schedule of Cash Flow, Supplemental Disclosures	'
			6/30/14		6/30/13
	Cash paid for the following:
	Interest	$	--	$	--
	Taxes		30		59,139
	Total		30		59,139
	Non-Cash Investing and Financing Activities
	Performance bonuses applied to convertible debentures	$	--	$	--
	Debentures converted into common stock		608,968		825,228
	Forgiveness of affiliate payable		--		--
	Forgiveness of affiliate receivable charged against paid in capital		60,000		5,793

Note_2_Description_of_Business1

Note 2 - Description of Business (Details)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Details	'	'
Concentration Risk, Customer	'three customers each provided over 10% of our revenue or 53% of total revenue	'three customers each provided over 10% of our revenue or 54% of total revenue

Note_3_Going_Concern_Details

Note 3 - Going Concern (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013	Dec. 31, 2012
Details	'	'	'	'
Cash	$2,385,291	$3,896,312	$3,828,107	$2,030,577
Excess of Liabilities over Assets	$38,227,887	'	'	'

Note_5_Fair_Value_Disclosures_3

Note 5 - Fair Value Disclosures: Fair Value, Assets Measured on Recurring Basis (Details) (USD $)	Jun. 30, 2014
Derivative Liability, Fair Value, Amount Not Offset Against Collateral	$2,010,853
Fair Value, Inputs, Level 3	'
Derivative Liability, Fair Value, Amount Not Offset Against Collateral	$2,010,853

Note_5_Fair_Value_Disclosures_4

Note 5 - Fair Value Disclosures: Schedule Of Balance Of Embedded Derivatives (Details) (USD $)	6 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Details	'	'
Balance of embedded derivatives	$2,010,320	$2,646,118
Present value of beneficial conversion features of new debentures	134,563	'
Accretion adjustments to fair value - beneficial conversion features	32,299	'
Reductions in fair value due to repayments/redemptions	-346,537	'
Gain on extinguishment related to conversion feature	-400,804	'
Reductions in fair value due to principal conversions	($54,785)	'

Note_6_Inventories_Inventories1

Note 6 - Inventories: Inventories Policy (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Details	'	'
Inventories, net	$685,533	$1,145,533

Note_8_Debt_Obligations_Schedu2

Note 8 - Debt Obligations: Schedule of Debt (Details) (USD $)	Jun. 30, 2014
Mortgages and other term notes	$21,743
Current portion of convertible notes payable	1,345,302
Current portion of long term debt	1,367,045
Current portion of convertible debentures, net	21,378,643
Total long-term convertible debentures	175,000
YA Global Investments	'
Current portion of convertible debentures, net	15,393,660	[1]
Better Half Bloodstock, Inc.	'
Current portion of convertible debentures, net	50,000	[2]
Circle Strategic Allocation Fund, LP	'
Current portion of convertible debentures, net	51,156	[1]
Dakota Capital Pty Limited	'
Current portion of convertible debentures, net	806,674	[1]
EFG Bank	'
Current portion of convertible debentures, net	149,301	[1]
Empire Equity	'
Current portion of convertible debentures, net	125,000	[1]
Epelbaum Revocable Trust	'
Current portion of convertible debentures, net	115,509	[1]
Highland Capital	'
Current portion of convertible debentures, net	110,000	[1]
JMC Holdings, LP	'
Current portion of convertible debentures, net	177,695	[1]
Dr. Michael Kesselbrenner	'
Current portion of convertible debentures, net	14,537	[1]
May Davis	'
Current portion of convertible debentures, net	26,671	[1]
David Moran & Siobhan Hughes	'
Current portion of convertible debentures, net	3,036	[1]
Morano, LLC	'
Current portion of convertible debentures, net	33,320	[3]
Susan Schneider	'
Current portion of convertible debentures, net	13,304	[1]
Minority Interest Fund (II), LLC	'
Current portion of convertible debentures, net	2,281,199	[3]
Viridid Capital LLC	'
Current portion of convertible debentures, net	100,000	[4]
Related Party Debenture 1	'
Current portion of convertible debentures, net	156,750	[3]
Conversion liabilities	'
Conversion liabilities	1,770,832
Gerova Asset Backed Holdings, LP	'
Total long-term convertible debentures	$175,000	[5]
[1]	6% interest, conversion at 90% of market.
[2]	0% interest, conversion at 90% of market.
[3]	6% interest, no conversion discount.
[4]	6% interest, conversion at 50% of market.
[5]	2% interest, no conversion discount.

Note_8_Debt_Obligations_Detail

Note 8 - Debt Obligations (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Dec. 31, 2012
					A and R Debenture	A and R Debenture
Principal convertible to common stock	$19,782,811	'	$19,782,811	'	'	'
Debt Instrument, Face Amount	'	'	'	'	33,308,023	'
Debt Instrument, Interest Rate During Period	'	'	'	'	6.00%	'
Debt Instrument, Convertible, Terms of Conversion Feature	'	'	'	'	'provides the holder with the right, but not the obligation, to convert any portion of the A&R Debenture into the Company’s common stock at a rate equal to the lesser of (a) $1.00 or (b) 90% of the lowest daily volume weighted average price of the Company’s common stock during the 20 consecutive trading days immediately preceding the conversion date. A holder of the A&R Debenture will not be permitted, however, to convert into a number of shares that would cause it to own more than 4.99% of the Company’s outstanding common shares.	'
Cash paid towards the principal balance	'	'	'	'	1,402,500	'
Principal due assigned to equity holders	'	'	'	'	475,000	'
Long-term Debt, Fair Value	'	'	'	'	'	19,675,780
Decrease in Conversion Liability relating to Debenture	'	'	'	'	273,254	'
Carrying value of debenture	'	'	'	'	16,882,060	'
Carrying value of debenture, Principal portion	'	'	'	'	15,393,660	'
Current liability for conversion feature	'	'	'	'	1,767,561	'
Interest Expense	$298,333	$392,795	$647,944	$797,308	$497,506	'

Note_8_Debt_Obligations_Schedu3

Note 8 - Debt Obligations: Schedule of Company's ability to fulfill its fixed debt service requirements (net of note discounts) (Details) (USD $)	Jun. 30, 2014
Minimum payments due under current and long term obligations	$21,149,856
2014	'
Minimum payments due under current and long term obligations	20,974,856
2018	'
Minimum payments due under current and long term obligations	$175,000

Note_8_Debt_Obligations_Assign

Note 8 - Debt Obligations: Assignees of YA Global Investments, L.P. (Details) (USD $)	3 Months Ended
	Jun. 30, 2014
Details	'
Aggregate Outstanding Balance of Assignee Debentures Retired	$3,700,000
Outstanding Principal Balance of Assignee Debentures Retired	3,609,206
Interest on Assignee Debentures Retired	90,794
Cash payment made to retire the debentures	1,400,000
Reduction in annual interest charge expected	$215,000

Note_8_Debt_Obligations_Minori

Note 8 - Debt Obligations: Minority Interest Fund (II), LLC - MIF Debenture (Details) (USD $)	3 Months Ended		6 Months Ended				6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2010	Dec. 31, 2010	Jun. 30, 2014	Apr. 30, 2013
					MIF Debenture	Viridis 2010 Debenture	ViridisDebentureMember	ViridisDebentureMember
Debt Instrument, Face Amount	'	'	'	'	$3,988,326	$518,308	'	$477,273
Convertible Debt	'	'	'	'	'	'	'	250,000
Portion of Debenture Reassigned to a Related Party	'	'	'	'	'	'	150,000	'
Reduction of Fair Value	'	'	'	'	'	'	136,364	'
Accretion Expense	'	'	'	'	'	'	6,061	'
Carrying value of debenture	'	'	'	'	'	'	200,000	'
Carrying value of debenture, Principal portion	'	'	'	'	'	'	100,000	'
Interest Expense	$298,333	$392,795	$647,944	$797,308	'	'	$2,975	'

Note_8_Debt_Obligations_Gerova

Note 8 - Debt Obligations: Gerova - Gerova Debenture (Details) (USD $)	3 Months Ended		6 Months Ended			12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Dec. 31, 2012
					Gerova Debenture	Gerova Debenture
Debt Instrument, Face Amount	'	'	'	'	'	$175,000
Debt Instrument, Description	'	'	'	'	'	'Gerova Asset Back Holdings, LP (“Gerova” and the “Gerova Debenture”)
Debt Instrument, Convertible, Terms of Conversion Feature	'	'	'	'	'	'Gerova shall have the right, but not the obligation, to convert any portion of the convertible debenture into the Company’s common stock at a rate equal to 100% of the closing market price for the Company’s common stock for the day preceding the conversion date
Carrying value of debenture	'	'	'	'	175,000	'
Interest Expense	$298,333	$392,795	$647,944	$797,308	$1,736	'

Note_8_Debt_Obligations_Morano

Note 8 - Debt Obligations: Morano - Morano Debenture (Details) (USD $)	3 Months Ended		6 Months Ended			12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Dec. 31, 2013
					Morano Debenture	Morano Debenture
Debt Instrument, Face Amount	'	'	'	'	'	$200,000
Debt Instrument, Description	'	'	'	'	'	'Nicholas J. Morano, LLC (“Morano” and the “Morano Debenture”)
Debt Instrument, Convertible, Terms of Conversion Feature	'	'	'	'	'	'Morano shall have the right, but not the obligation, to convert any portion of the accrued interest into the Company’s common stock at 100% of the market price for the Company’s common stock at the time of conversion
Carrying value of debenture	'	'	'	'	'	33,320
Interest Expense	$298,333	$392,795	$647,944	$797,308	$2,104	'

Note_10_Stockholders_Equity_Se

Note 10 - Stockholders' Equity: Series B Preferred Stock (Details) (Class B Preferred Stock)	Jun. 30, 2014	Dec. 31, 2013
Class B Preferred Stock	'	'
Convertible preferred stock shares issued	2,480,544	2,480,544
Convertible preferred stock shares outstanding	2,480,544	2,480,544

Note_10_Stockholders_Equity_Se1

Note 10 - Stockholders' Equity: Series D Preferred Stock (Details) (Series D Preferred Stock, USD $)	Jun. 30, 2014	Sep. 30, 2011	Jun. 30, 2014	Jun. 30, 2014
		Minority Interest Fund (II), LLC	Edward Carroll	Acutus Capital, LLC
Preferred Stock, Par or Stated Value Per Share	$0.00	'	'	'
Convertible preferred stock shares issued	'	62,500	'	'
Convertible preferred stock shares outstanding	'	'	187,500	124,875

Note_10_Stockholders_Equity_Se2

Note 10 - Stockholders' Equity: Series F Preferred Stock (Details) (Series F Preferred Stock, Cantrell Winsness Technologies, LLC, USD $)	6 Months Ended
	Jun. 30, 2014	Jan. 01, 2010
Series F Preferred Stock | Cantrell Winsness Technologies, LLC	'	'
Preferred Stock, Redemption Terms	'The Series F preferred shares are redeemable at face value and a rate equal to the amount royalties paid or prepaid under the TAA. In addition, the Sellers have the right to convert the Series F preferred shares to pay or prepay royalties at a rate equal to the cash proceeds received by the Sellers upon sale of the common shares issued upon conversion Series F preferred shares.	'
Preferred Stock	'	$925,926
Present Value of Conversion Feature	'	428,381
Expense for accretion of present value of conversion liability	27,721	'
Current liability for conversion feature	240,021	'
Estimated settlement value at June 10, 2020	$560,528	'

Note_10_Stockholders_Equity_Co

Note 10 - Stockholders' Equity: Common Stock (Details) (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Details	'	'
Common stock issued during period	31,588,354	1,499,022
Shares converted to Common Stock, Value	$655,996	$918,040

Note_11_Commitments_and_Contin1

Note 11 - Commitments and Contingencies (Details) (USD $)	6 Months Ended
	Jun. 30, 2014
Nosan, et at v. GS COES	'
Estimated Litigation Liability	$1,734,579
Nosan, et at v. GS COES | Minimum	'
Damages Sought	2,500,000
Nosan, et at v. GS COES | Maximum	'
Damages Sought	3,500,000
Nosan et al. v. GS CleanTech, Greenshift Corp, YA Global Investments, LP and Green Plains Commodities LLC	'
Estimated Litigation Liability	1,734,579
Nosan et al. v. GS CleanTech, Greenshift Corp, YA Global Investments, LP and Green Plains Commodities LLC | Minimum	'
Damages Sought	2,500,000
Nosan et al. v. GS CleanTech, Greenshift Corp, YA Global Investments, LP and Green Plains Commodities LLC | Maximum	'
Damages Sought	3,500,000
Dynalectric of Michigan II, Inc. V. Biofuls Industries Group, et al	'
Damages Sought	125,000
Max v. GS Agrifuels Corp., et al	'
Damages Sought	6,000,000
JMJ Financial v. Greenshift et al	'
Damages Sought	300,000
Litigation Settlement, Amount	600,026
Long Side Ventures and Sunny Isles Ventures, LLC v. Greenshift et al	'
Damages Sought	250,000
Golden Technology Management, LLC, et al. v. NextGen Acquisition, Inc et al	'
Damages Sought	$5,200,000

Note_12_Related_Party_Transact1

Note 12 - Related Party Transactions (Details) (Minority Interest Fund (II), LLC)	6 Months Ended
	Jun. 30, 2014
Minority Interest Fund (II), LLC	'
Nature of Common Ownership or Management Control Relationships	'The managing member of MIF is a relative of the Company’s chairman

Note_13_Supplemental_Disclosur2

Note 13 - Supplemental Disclosure of Cash Flow Information: Schedule of Cash Flow, Supplemental Disclosures (Details) (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Details	'	'
Income Taxes Paid	$30	$59,139
Debentures converted into common stock	608,968	825,228
Forgiveness of affiliate receivable charged against paid in capital	$60,000	$5,793