Cardinal Ethanol (CRDE) 10-Q 10 Aug 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jun. 30, 2020	Aug. 10, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	Cardinal Ethanol LLC
Entity Central Index Key	0001352081
Current Fiscal Year End Date	--09-30
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Document Type	10-Q
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		14,606
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Interactive Data Current	Yes

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2020	Sep. 30, 2019
Current Assets
Cash	$ 7,859,170	$ 15,670,696
Restricted cash	5,098,704	6,363,424
Trade accounts receivable	13,353,786	12,824,985
Miscellaneous receivables	466,737	1,380,649
Inventories	19,294,326	13,439,808
Prepaid and other current assets	526,182	130,464
Total current assets	47,030,984	50,122,788
Property, Plant, and Equipment, net	79,949,246	86,169,079
Other Assets
Operating lease right of use asset, net	5,484,792	0
Investment	1,259,770	1,259,770
Total other assets	6,744,562	1,259,770
Total Assets	133,724,792	137,551,637
Current Liabilities
Accounts payable	4,387,952	2,712,760
Accounts payable-grain	6,508,633	10,624,278
Accrued expenses	2,119,289	1,249,467
Operating lease current liabilities	2,561,326	0
Due to broker	0	1,589,324
Current maturities of long-term debt	1,708,665	1,428,571
Total current liabilities	19,501,316	18,821,283
Long-Term Liabilities
Long-term debt, net of current maturities	4,360,434	5,297,151
Operating lease long-term liabilities	2,923,505	0
Liability for railcar rehabilitation costs	1,378,080	1,154,520
Total long-term liabilities	8,662,019	6,451,671
Commitments and Contingencies	0	0
Members’ Equity
Members' contributions, net of cost of raising capital, 14,606 units authorized, issued and outstanding	70,912,213	70,912,213
Retained earnings	34,649,244	41,366,470
Total members' equity	105,561,457	112,278,683
Total Liabilities and Members’ Equity	133,724,792	137,551,637
Futures & options derivatives
Current Assets
Derivatives	383,928	221,947
Current Liabilities
Derivatives	2,062,679	1,045,113
Forward purchase/sales derivatives
Current Assets
Derivatives	48,151	90,815
Current Liabilities
Derivatives	$ 152,772	$ 171,770

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) (Unaudited) - shares	Jun. 30, 2020	Sep. 30, 2019
Statement of Financial Position [Abstract]
Capital units, authorized (in shares)	14,606	14,606
Capital units, issued (in shares)	14,606	14,606
Capital units, outstanding (in shares)	14,606	14,606

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Revenues	$ 51,252,061	$ 63,665,456	$ 182,267,602	$ 178,171,882
Cost of Goods Sold	49,594,125	62,587,418	181,843,166	175,990,029
Gross Profit	1,657,936	1,078,038	424,436	2,181,853
Operating Expenses	1,590,121	1,591,335	5,211,222	5,268,004
Operating Income (Loss)	67,815	(513,297)	(4,786,786)	(3,086,151)
Other Income (Expense)
Interest expense	(36,797)	(82,838)	(170,789)	(290,602)
Miscellaneous income	4,078	590,408	431,249	639,528
Total	(32,719)	507,570	260,460	348,926
Net Income (Loss)	$ 35,096	$ (5,727)	$ (4,526,326)	$ (2,737,225)
Weight Average Units Outstanding - basic and diluted (in shares)	14,606	14,606	14,606	14,606
Net Income (Loss) Per Unit - basic and diluted (in dollars per shares)	$ 2	$ 0	$ (310)	$ (187)
Distributions Per Unit (in dollars per shares)	$ 0	$ 100	$ 150	$ 100

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash Flows from Operating Activities
Net loss	$ (4,526,326)	$ (2,737,225)
Adjustments to reconcile net loss to net cash used in operations:
Depreciation	8,405,952	8,433,872
Change in fair value of commodity derivative instruments	879,251	(336,116)
Loss on sale of equipment	0	1,218
Investment redemption	0	35,422
Change in operating assets and liabilities:
Trade accounts receivables	(528,801)	(6,929,553)
Miscellaneous receivables	913,912	(1,835,858)
Inventories	(5,854,518)	(10,755,249)
Prepaid and other current assets	(395,679)	(74,551)
Contract liabilities	0	506,463
Accounts payable	1,649,227	63,971
Accounts payable-grain	(4,115,645)	(3,201,124)
Accrued expenses and other liabilities	869,822	(308,579)
Accrued rail car rehabilitation costs	223,560	1,080,000
Due to broker	(1,589,324)	0
Net cash used in operating activities	(4,068,569)	(14,859,392)
Cash Flows from Investing Activities
Capital expenditures	(14,372)	(2,524,286)
Payments for construction in progress	(2,145,782)	0
Proceeds from sale of equipment	0	3,800
Net cash used for investing activities	(2,160,154)	(2,520,486)
Cash Flows from Financing Activities
Checks written in excess of bank balances	0	5,039,874
Distributions paid	(2,190,900)	(1,460,600)
Proceeds from revolving credit loan	0	4,161,917
Payments against revolving credit loan	0	(1,993,757)
Proceeds from long-term debt	856,665	0
Payments on long-term debt	(1,513,288)	(1,513,287)
Net cash provided by (used for) financing activities	(2,847,523)	4,234,147
Net Decrease in Cash and Restricted Cash	(9,076,246)	(13,145,731)
Cash and Restricted Cash – Beginning of Period	22,034,120	19,237,992
Cash and Restricted Cash – End of Period	12,957,874	6,092,261
Reconciliation of Cash and Restricted Cash
Cash and Restricted Cash	12,957,874	6,092,261
Supplemental Cash Flow Information
Interest paid	221,507	330,790
Supplemental Disclosure of Non-cash Investing and Financing Activities
Construction in process included in accrued expenses and accounts payable	35,996	154,145
Ethanol Division
Adjustments to reconcile net loss to net cash used in operations:
Loss on sale of equipment	$ 0	$ 1,197,917

Condensed Statements of Changes

Condensed Statements of Changes in Members' Equity (Unaudited) - USD ($)	Total	Member Contributions	Retained Earnings
Beginning balance at Sep. 30, 2018		$ 70,912,213	$ 49,425,983
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		0	(2,670,040)
Ending balance at Dec. 31, 2018		70,912,213	46,755,943
Beginning balance at Sep. 30, 2018		70,912,213	49,425,983
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ (2,737,225)
Ending balance at Jun. 30, 2019		70,912,213	45,228,155
Beginning balance at Dec. 31, 2018		70,912,213	46,755,943
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		0	(61,461)
Ending balance at Mar. 31, 2019		70,912,213	46,694,482
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(5,727)	0	(5,727)
Member Distributions			(1,460,600)
Ending balance at Jun. 30, 2019		70,912,213	45,228,155
Beginning balance at Sep. 30, 2019	112,278,683	70,912,213	41,366,470
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		0	1,638,760
Ending balance at Dec. 31, 2019		70,912,213	43,005,230
Beginning balance at Sep. 30, 2019	112,278,683	70,912,213	41,366,470
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(4,526,326)
Ending balance at Jun. 30, 2020	105,561,457	70,912,213	34,649,244
Beginning balance at Dec. 31, 2019		70,912,213	43,005,230
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		0	(6,200,182)
Member Distributions		0	(2,190,900)
Ending balance at Mar. 31, 2020		70,912,213	34,614,148
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	35,096	0	35,096
Ending balance at Jun. 30, 2020	$ 105,561,457	$ 70,912,213	$ 34,649,244

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying unaudited condensed financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted as permitted by such rules and regulations. These financial statements and related notes should be read in conjunction with the financial statements and notes thereto included in the Company's audited financial statements for the year ended September 30, 2019 , contained in the Company's annual report on Form 10-K. In the opinion of management, the interim condensed financial statements reflect all adjustments considered necessary for fair presentation. Nature of Business Cardinal Ethanol, LLC, (the “Company”) is an Indiana limited liability company currently producing fuel-grade ethanol, distillers grains, corn oil and carbon dioxide near Union City, Indiana and sells these products throughout the continental United States. During the nine months ended June 30, 2020 and 2019 , the Company produced approximately 96,403,000 and 94,904,000 gallons of ethanol, respectively. During 2017, the Company completed a construction project to add grain receiving and train loading facilities and additional rail spurs, track and grain storage to allow the Company to procure, transport and sell grain commodities through our grain operations (the "Trading Division"). Reportable Segments Accounting Standards Codification (“ASC”) 280, “Segment Reporting,” establishes the standards for reporting information about segments in financial statements. Operating segments are defined as components of an enterprise for which separate financial information is available that are evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. Based on the related business nature and expected financial results criteria set forth in ASC 280, the Company has two reportable operating segments for financial reporting purposes. • Ethanol Production Division. Based on the nature of the products and production process and the expected financial results, the Company’s operations at its ethanol plant, including the production and sale of ethanol and its co-products, are aggregated into one financial reporting segment. • Trading Division. During 2017, the Company constructed a grain loading facility within our single site to buy, hold and sell inventories of agricultural grains, primarily soybeans. We perform no additional processing of these grains, unlike the corn inventory we hold and use in ethanol production. The activities of buying, selling and holding of grains other than for ethanol and co-product production comprise this financial reporting segment. Accounting Estimates Management uses estimates and assumptions in preparing these financial statements in accordance with generally accepted accounting principles. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. The Ethanol Division uses estimates and assumptions in accounting for the following significant matters, among others; the useful lives of fixed assets, inventory, patronage dividends, the assumptions used in the analysis of the impairment of long lived assets, railcar rehabilitation costs, and inventory purchase commitments. The Trading Division uses estimates and assumptions in accounting for the following significant matters, among others; the useful lives of fixed assets, the valuation of inventory purchase and sale commitments derivatives and inventory at market. Actual results may differ from previously estimated amounts, and such differences may be material to the financial statements. The Company periodically reviews estimates and assumptions, and the effects of revisions are reflected in the period in which the revision is made. Actual results could differ materially from those estimates. Restricted Cash As a part of its commodities hedging activities, the Company is required to maintain cash balances with our commodities trading companies for initial and maintenance margins on a per futures contract basis. Changes in the market value of contracts may increase these requirements. As the futures contracts expire, the margin requirements also expire. Accordingly, we record the cash maintained with the traders in the margin accounts as restricted cash. Since this cash is immediately available to us upon request when there is a margin excess, we consider this restricted cash to be a current asset. Trade Accounts Receivable Credit terms are extended to customers in the normal course of business. The Company performs ongoing credit evaluations of its customers' financial condition and, generally, requires no collateral. Accounts receivable are recorded at their estimated net realizable value. Accounts are considered past due if payment is not made on a timely basis in accordance with the Company's credit terms. Amounts considered uncollectible are written off. The Company's estimate of the allowance for doubtful accounts is based on historical experience, its evaluation of the current status of receivables, and unusual circumstances, if any. At June 30, 2020 and September 30, 2019 , the Company determined that an allowance for doubtful accounts was not necessary. Inventories Ethanol production division inventories consist of raw materials, work in process, finished goods and spare parts. Corn is the primary raw material. Finished goods consist of ethanol, dried distiller grains and corn oil. Inventories are stated at the lower of weighted average cost or net realizable value. Net realizable value is the estimated selling prices in the normal course of business, less reasonably predictable selling costs. Trading division inventories consist of grain. Soybeans were the only grains held and traded at June 30, 2020 and September 30, 2019 . These inventories are stated at market value less estimated selling costs, which may include reductions for quality. Property, Plant and Equipment Property, plant, and equipment are stated at cost. Depreciation is provided over estimated useful lives by use of the straight line depreciation method. Maintenance and repairs are expensed as incurred; major improvements and betterments are capitalized. Construction in progress expenditures will be depreciated using the straight-line method over their estimated useful lives once the assets are placed into service. The Company has various capital projects scheduled for the 2020 fiscal year in order to make certain improvements to our ethanol plant. These improvements include adding corn oil loadout upgrades, an additional ethanol loadout skid and other smaller miscellaneous projects. In addition, we added an additional flat storage building to replace our distillers grains silo that was damaged in a DDGS silo explosion in November 2018. The flat storage cost totaled approximately $1,700,000 which was funded with insurance proceeds along with funds from operations and our existing debt facilities. The flat storage was put into service in June 2020. Long-Lived Assets The Company reviews its long-lived assets, such as property, plant and equipment and financing costs, subject to depreciation and amortization, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by an asset to the carrying value of the asset. If the carrying value of the long-lived asset is not recoverable on an undiscounted cash flow basis, impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary. No impairment was recorded for the three and nine months periods ended June 30, 2020 and 2019 . Investment Investments consist of the capital stock and patron equities of the Company's distillers grains marketer. The investments are stated at the lower of cost or fair value and adjusted for non cash patronage equities and cash equity redemptions received. Non cash patronage dividends are recognized when received and included within revenue in the condensed statements of operations. Revenue Recognition Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. Our contracts primarily consist of agreements with marketing companies and other customers as described below. Our performance obligations consist of the delivery of ethanol, distillers' grains, corn oil, soybeans and carbon dioxide to our customers. The consideration we receive for these products is fixed based on current observable market prices at the Chicago Mercantile Exchange, generally, and adjusted for local market differentials. Our contracts have specific delivery modes, rail or truck, and dates. Revenue is recognized when the Company delivers the products to the mode of transportation specified in the contract, at the transaction price established in the contract, net of commissions, fees, and freight. We sell each of the products via different marketing channels as described below. • Ethanol. The Company sells its ethanol via a marketing agreement with Murex, LLC. Murex sells one hundred percent of the Company's ethanol production based on agreements with end users at prices agreed upon mutually among the end user, Murex and the Company. Murex then provides a schedule of deliveries required and an order for each rail car or tankers needed to fulfill their commitment with the end user. These are individual performance obligations of the Company. The marketing agreement calls for control and title to pass when the delivery vehicle is filled. Revenue is recognized then at the price in the agreement with the end user, net of commissions, freight, and insurance. • Distillers grains. The Company engages another third-party marketing company, CHS, Inc, to sell one hundred percent of the distillers grains it produces at the plant. The process for selling the distillers grains is like that of ethanol, except that CHS takes title and control once a rail car is released to the railroad or a truck is released from the Company's scales. Prices are agreed upon among the three parties and CHS provides schedules and orders representing performance obligations. Revenue is recognized net of commissions, freight and fees. • Distillers corn oil (corn oil). The Company sells its production of corn oil directly to commercial customers. The customer is provided with a delivery schedule and pick up orders representing performance obligations are fulfilled when the customer’s driver picks up the scheduled load. The price is agreed upon at the time each contract is made, and the Company recognizes revenue at the time of delivery at that price. • Carbon dioxide. The Company sells a portion of the carbon dioxide it produces to a customer that maintains a plant on-site for a set price per ton. Delivery is defined as transference of the gas from our stream to their plant. • Soybeans and other grains. The Company sells soybeans exclusively to commercial mills, processors or grain traders. Contracts are negotiated directly with the parties at prices based on negotiated prices. • Other. The Company engaged in ethanol sales for sanitizer use during the quarter ended June 30, 2020 as result of a direct domestic need from COVID-19. The Company has since discontinued ethanol for sanitizer sales. Derivative Instruments From time to time the Company enters into derivative transactions to hedge its exposures to commodity price fluctuations. The Company is required to record these derivatives in the balance sheet at fair value. In order for a derivative to qualify as a hedge, specific criteria must be met and appropriate documentation maintained. Gains and losses from derivatives that do not qualify as hedges, or are undesignated, must be recognized immediately in earnings. If the derivative does qualify as a hedge, depending on the nature of the hedge, changes in the fair value of the derivative will be either offset against the change in fair value of the hedged assets, liabilities, or firm commitments through earnings or recognized in other comprehensive income until the hedged item is recognized in earnings. Changes in the fair value of undesignated derivatives are recorded in the statement of operations, depending on the item being hedged. Additionally, the Company is required to evaluate its contracts to determine whether the contracts are derivatives. Certain contracts that literally meet the definition of a derivative may be exempted as “normal purchases or normal sales”. Normal purchases and normal sales are contracts that provide for the purchase or sale of something other than a financial instrument or derivative instrument that will be delivered in quantities expected to be used or sold over a reasonable period in the normal course of business. Contracts that meet the requirements of normal purchases or sales are documented as normal and exempted from accounting and reporting requirements, and therefore, are not marked to market in our financial statements. The Company has elected for its Ethanol Division to apply the normal purchase normal sale exemption to all forward commodity contracts. For the Trading Division, the Company has elected not to apply the normal purchase normal sale exemption to its forward purchase and sales contracts and therefore marks these derivative instruments to market. Net Income (Loss) per Unit Basic net income (loss) per unit is computed by dividing net income (loss) by the weighted average number of members' units outstanding during the period. Diluted net income (loss) per unit is computed by dividing net income (loss) by the weighted average number of members' units and members' unit equivalents outstanding during the period. There were no member unit equivalents outstanding during the periods presented; accordingly, the Company's basic and diluted net income (loss) per unit are the same. Recently Issued or Adopted Accounting Pronouncements Accounting for Leases (Adopted) Recent Accounting Pronouncements – In February 2016, the Financial Accounting Standards Board (“FASB”) issued new guidance on accounting for leases under Accounting Standards Codification 842 (“ASC 842”). Under the new guidance, lessees are required to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted cash flow basis; and (2) a “right of use” asset, which is an asset that represents the lessee’s right to use the specified asset for the lease term. Lease expense under the new guidance is substantially the same as prior to the adoption. See Note 8 for further information.

REVENUE

REVENUE	9 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Revenue Recognition Revenue is recognized at a single point in time when the Company satisfies its performance obligation under the terms of a contract with a customer. Generally, this occurs with the transfer of control of products or services. Revenue is measured as the amount of consideration expected, as specified in the contract with a customer, to be received in exchange for transferring goods or providing services. Revenue by Source All revenues from contracts with customers under ASC Topic 606 are recognized at a point in time. The following tables disaggregate revenue by major source for the three months and nine months ended June 30, 2020 and 2019 : Three Months Ended June 30, 2020 Ethanol Division Trading Division Total Revenues from contracts with customers under ASC Topic 606 Ethanol $ 31,322,704 $ — $ 31,322,704 Distillers' grains 9,770,811 — 9,770,811 Corn Oil 2,225,717 — 2,225,717 Carbon Dioxide 123,375 — 123,375 Other 1,795,251 22,625 1,817,876 Total revenues from contracts with customers 45,237,858 22,625 45,260,483 Revenues from contracts accounted for as derivatives under ASC Topic 815 (1) Soybeans and other grains — 5,991,578 5,991,578 Total revenues from contracts accounted for as derivatives — 5,991,578 5,991,578 Total Revenues $ 45,237,858 $ 6,014,203 $ 51,252,061 Nine Months Ended June 30, 2020 Ethanol Division Trading Division Total Revenues from contracts with customers under ASC Topic 606 Ethanol $ 116,998,260 $ — $ 116,998,260 Distillers' grains 31,952,429 — 31,952,429 Corn Oil 7,233,285 — 7,233,285 Carbon Dioxide 370,125 — 370,125 Other 2,038,327 76,075 2,114,402 Total revenues from contracts with customers 158,592,426 76,075 158,668,501 Revenues from contracts accounted for as derivatives under ASC Topic 815 (1) Soybeans and other grains — 23,599,101 23,599,101 Total revenues from contracts accounted for as derivatives — 23,599,101 23,599,101 Total Revenues $ 158,592,426 $ 23,675,176 $ 182,267,602 Three Months Ended June 30, 2019 Ethanol Division Trading Division Total Revenues from contracts with customers under ASC Topic 606 Ethanol $ 42,284,298 $ — $ 42,284,298 Distillers' grains 9,939,220 — 9,939,220 Corn Oil 1,885,100 — 1,885,100 Carbon Dioxide 123,375 — 123,375 Other 9,344 15,350 24,694 Total revenues from contracts with customers 54,241,337 15,350 54,256,687 Revenues from contracts accounted for as derivatives under ASC Topic 815 (1) Soybeans and other grains — 9,408,769 9,408,769 Total revenues from contracts accounted for as derivatives — 9,408,769 9,408,769 Total Revenues $ 54,241,337 $ 9,424,119 $ 63,665,456 Nine Months Ended June 30, 2019 Ethanol Division Trading Division Total Revenues from contracts with customers under ASC Topic 606 Ethanol $ 120,110,027 $ — $ 120,110,027 Distillers' grains 31,483,092 — 31,483,092 Corn Oil 5,524,019 — 5,524,019 Carbon Dioxide 386,270 — 386,270 Other 38,548 24,250 62,798 Total revenues from contracts with customers 157,541,956 24,250 157,566,206 Revenues from contracts accounted for as derivatives under ASC Topic 815 (1) Soybeans and other grains — 20,605,676 20,605,676 Total revenues from contracts accounted for as derivatives — 20,605,676 20,605,676 Total Revenues $ 157,541,956 $ 20,629,926 $ 178,171,882 (1) Revenues from contracts accounted for as derivatives represent physically settled derivative sales that are outside the scope of ASC Topic 606, Revenue from Contracts with Customers (ASC Topic 606), where the company recognizes revenue when control of the inventory is transferred within the meaning of ASC Topic 606 as required by ASC Topic 610-20, Gains and Losses from the Derecognition of Nonfinancial Assets. Payment Terms The Company has contractual payment terms with each respective marketer that sells ethanol and distillers grains. These terms are generally 10 - 20 days after the week of the transfer of control. The Company has standard payment terms of net 10 days for its invoices for corn oil. The Company has standard payments terms due upon delivery for its invoices of soybeans. The contractual terms with the carbon dioxide customer calls for an annual settlement. Shipping and Handling Costs Shipping and handling costs related to contracts with customers for sale of goods are accounted for as a fulfillment activity and are included in cost of goods sold. Accordingly, amounts billed to customers for such costs are included as a component of revenue.

CONCENTRATIONS

CONCENTRATIONS	9 Months Ended
	Jun. 30, 2020
Risks and Uncertainties [Abstract]
CONCENTRATIONS	CONCENTRATIONS Two major customers accounted for approximately 93% and 92% of the outstanding accounts receivable balance at June 30, 2020 and September 30, 2019 , respectively. These same two customers accounted for approximately 80% of revenue for the three and nine month period ended June 30, 2020 and 82% of revenue for the three and nine months ended June 30, 2019. UNCERTAINTIES IMPACTING THE ETHANOL INDUSTRY AND OUR FUTURE OPERATIONS The Company has certain risks and uncertainties that it experiences during volatile market conditions, which can have a severe impact on operations. The Company's revenues are primarily derived from the sale and distribution of ethanol, distillers grains and corn oil to customers primarily located in the U.S. Corn for the production process is supplied to the plant primarily from local agricultural producers and from purchases on the open market. Ethanol sales average approximately 64% of total revenues and corn costs average 71% of total cost of goods sold. The Company's operating and financial performance is largely driven by prices at which the Company sells ethanol, distillers grains and corn oil, and the related cost of corn. The price of ethanol is influenced by factors such as supply and demand, weather, government policies and programs, and the unleaded gasoline and the petroleum markets, although, since 2005, the prices of ethanol and gasoline began a divergence with ethanol selling for less than gasoline at the wholesale level. Excess ethanol supply in the market, in particular, puts downward pressure on the price of ethanol. The Company's largest cost of production is corn. The cost of corn is generally impacted by factors such as supply and demand, weather, government policies and programs. The Company's risk management program is used to protect against the price volatility of these commodities. The Company, and the ethanol industry as a whole, experienced adverse conditions throughout most of 2018 and 2019, and thus far into 2020, as a result of industry-wide record low ethanol prices due to reduced demand and high industry inventory levels. These factors, which are compounded by the recent impact of the novel coronavirus (“COVID-19”), resulted and continue to result in negative operating margins, lower cash flow from operations and net operating losses, which included write downs of inventory and impairment of corn forward purchase contracts of approximately $2.8 million for the nine months ended June 30, 2020 . In response to the low margin environment, the Company reduced its ethanol production rate by approximately 20% . As margins improved in May of 2020, the Company began increasing its ethanol production rate to approximately 135 million gallons annually. The Company continues to monitor COVID-19 developments in order to determine whether future adjustments to production are warranted. The Company believes its cash on hand and available debt from its lender will provide sufficient liquidity to meets its anticipated working capital, debt service and other liquidity needs through the next twelve months. If market conditions worsen affecting our ability to profitably operate the plant or if we are unable to transport ethanol, we may be forced to further reduce our ethanol production rate or even temporarily shut down ethanol production altogether.

INVENTORIES

INVENTORIES	9 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories consist of the following as of: June 30, 2020 (Unaudited) September 30, 2019 Ethanol Division: Raw materials $ 7,938,452 $ 5,457,534 Work in progress 1,287,574 1,639,946 Finished goods 2,106,919 1,657,065 Spare parts 3,593,024 3,259,165 Ethanol Division Subtotal $ 14,925,969 $ 12,013,710 Trading Division: Grain inventory $ 4,368,357 $ 1,426,098 Trading Division Subtotal $ 4,368,357 $ 1,426,098 Total Inventories $ 19,294,326 $ 13,439,808 The Company had a net realizable value write-down of Ethanol Division inventory of approximately $72,000 and $102,000 for the three months ended June 30, 2020 , and 2019, respectively and $1,697,000 and $886,000 for the nine months ended June 30, 2020 , and 2019, respectively. In the ordinary course of business, the Company enters into forward purchase contracts for its commodity purchases and sales. Certain contracts that literally meet the definition of a derivative may be exempted from derivative accounting as normal purchases or normal sales. At June 30, 2020 , the Company had forward corn purchase contracts at various fixed prices for various delivery periods through December 2021 for approximately 8.8% of expected production needs for the next 21 months. Approximately 6.2% of the forward corn purchases were with related parties. Also, at June 30, 2020 , the Company had forward natural gas contracts for approximately 75.6% of expected purchases for the next 19 months at various prices for various delivery periods through October 2021 . Given the uncertainty of future commodity prices, the Company could incur a loss on the outstanding purchase contracts in future periods. Management has evaluated these forward contracts using a methodology similar to that used in the lower of cost or net realizable value evaluation with respect to inventory valuation, and has determined that an impairment loss existed of approximately $913,000 at June 30, 2020 and none at September 30, 2019 . The impairment is recorded as a component of cost of goods sold. The Company has elected not to apply the normal purchase and sale exemption to its forward soybean contracts and therefore treats them as derivative instruments. At June 30, 2020 , the Ethanol Division had forward dried distiller grains sales contracts for approximately 36.1% of expected production for the next month at various fixed prices for delivery periods through September 2020 . At June 30, 2020 , the Company had forward corn oil contracts for approximately 83.7% of expected production for the next 3 months at various fixed prices for delivery through August 2020 . Additionally, at June 30, 2020 , the Trading Division had forward soybean purchase contracts for approximately 57.0% of expected origination for various delivery periods through August 2020 . Approximately 10.3% of the forward soybean purchases were with related parties.

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	9 Months Ended
	Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS	DERIVATIVE INSTRUMENTS The Company enters into corn, ethanol, natural gas and soybean derivative instruments which are required to be recorded as either assets or liabilities at fair value in the balance sheet. Derivatives qualify for treatment as hedges when there is a high correlation between the change in fair value of the derivative instrument and the related change in value of the underlying hedged item. The Company must designate the hedging instruments based upon the exposure being hedged as a fair value hedge, a cash flow hedge or a hedge against foreign currency exposure. The Company formally documents, designates, and assesses the effectiveness of transactions that receive hedge accounting initially and on an on-going basis. Commodity Contracts The Company enters into commodity-based derivatives, for corn, ethanol, natural gas and soybeans in order to protect cash flows from fluctuations caused by volatility in commodity prices. This is also done to protect gross profit margins from potentially adverse effects of market and price volatility on commodity based purchase commitments where the prices are set at a future date. These derivatives are not designated as effective hedges for accounting purposes. For derivative instruments that are not accounted for as hedges, or for the ineffective portions of qualifying hedges, the change in fair value is recorded through earnings in the period of change. The changes in the fair market value of ethanol derivative instruments are included as a component of revenue. The changes in the fair market value of corn, natural gas, and soybean derivative instruments are included as a component of cost of goods sold. At June 30, 2020 , the Ethanol Division had a net short (selling) position of 3,087,905 bushels of corn under derivative contracts used to hedge its forward corn contracts and corn inventory. These corn derivatives are traded on the Chicago Board of Trade as of June 30, 2020 and are forecasted to settle for various delivery periods through December 2021 . The Ethanol Division had a net short (selling) position of 23,520,000 gallons of ethanol under derivative contracts used to hedge its future ethanol sales. These ethanol derivatives are traded on the New York Mercantile Exchange and are forecasted to settle for various delivery periods through December 2020 . At June 30, 2020 , the Trading Division also had a net short (selling) position of 100,000 bushels of soybeans under derivative contracts used to hedge its forward soybean contract purchases. These soybean derivatives are traded on the Chicago Board of Trade and are, as of June 30, 2020 , forecasted to settle for various delivery periods through November 2020 . These derivatives have not been designated as effective hedges for accounting purposes. The following table provides balance sheet details regarding the Company's derivative financial instruments at June 30, 2020 : Instrument Balance Sheet Location Assets Liabilities Ethanol Futures and Options Contracts Futures & Options Derivatives $ — $ 2,023,854 Corn Futures and Options Contracts Futures & Options Derivatives 383,928 — Soybean Futures and Options Contracts Futures & Options Derivatives — 38,825 Soybean Forward Purchase and Sales Contracts Forward Purchase/Sales Derivatives 48,151 152,772 Totals $ 432,079 $ 2,215,451 As of June 30, 2020 , the Company had approximately $5,100,000 cash collateral (restricted cash) related to ethanol, corn, and soybean derivatives held by four brokers. The following table provides balance sheet details regarding the Company's derivative financial instruments at September 30, 2019 : Instrument Balance Sheet Location Assets Liabilities Ethanol Futures and Options Contracts Futures & Options Derivatives $ — $ 81,900 Corn Futures and Options Contracts Futures & Options Derivatives — 963,213 Soybean Futures and Options Contracts Futures & Options Derivatives 221,947 — Soybean Forward Purchase and Sales Contracts Forward Purchase/Sales Derivatives 90,815 171,770 Totals $ 312,762 $ 1,216,883 As of September 30, 2019 , the Company had approximately $6,363,000 of cash collateral (restricted cash) and due to broker of approximately $1,589,000 related to ethanol, corn and soybean derivatives held by two brokers. The following table provides details regarding the gains and (losses) from the Company's derivative instruments in the statements of operations, none of which are designated as hedging instruments: Instrument Statement of Operations Location Three Months Ended June 30, 2019 Nine Months Ended June 30, 2019 Three Months Ended June 30, 2020 Nine Months Ended June 30, 2020 Corn Futures and Options Contracts Cost of Goods Sold $ 342,057 $ 13,444 $ 901,144 $ 3,299,787 Ethanol Futures and Options Contracts Revenues 288,574 474,015 (1,189,256 ) (3,753,455 ) Natural Gas Futures and Options Contracts Cost of Goods Sold (14,373 ) 23,354 — — Soybean Futures and Options Contracts Cost of Goods Sold (24,080 ) 263,812 159,073 810,450 Soybean Forward Purchase Contracts Cost of Goods Sold 1,275,534 2,777,541 190,883 54,719 Totals $ 1,867,712 $ 3,552,166 $ 61,844 $ 411,501

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The following table provides information on those assets and liabilities measured at fair value on a recurring basis as of June 30, 2020 : Instruments Carrying Amount Fair Value Level 1 Level 2 Level 3 Corn Futures and Options Contracts $ 383,928 $ 383,928 $ 372,156 $ 11,772 $ — Ethanol Futures and Options Contracts $ (2,023,854 ) $ (2,023,854 ) $ (2,023,854 ) $ — $ — Soybean Futures and Options Contracts $ (38,825 ) $ (38,825 ) $ (38,825 ) $ — $ — Soybean Forward Purchase Contracts, net $ (104,621 ) $ (104,621 ) $ — $ (104,621 ) $ — Soybean Inventory $ 4,368,357 $ 4,368,357 $ — $ 4,368,357 $ — The following table provides information on those assets and liabilities measured at fair value on a recurring basis as of September 30, 2019 : Instruments Carrying Amount Fair Value Level 1 Level 2 Level 3 Corn Futures and Options Contracts $ (963,213 ) $ (963,213 ) $ 2,685,231 $ (3,648,444 ) $ — Ethanol Futures and Options Contracts $ (81,900 ) $ (81,900 ) $ (81,900 ) $ — $ — Soybean Futures and Options Contracts $ 221,947 $ 221,947 $ 234,875 $ (12,928 ) $ — Soybean Forward Purchase Contracts, net $ (80,955 ) $ (80,955 ) $ — $ (80,955 ) $ — Soybean Inventory $ 1,426,098 $ 1,426,098 $ — $ 1,426,098 $ — We determine the fair value of commodity futures derivative instruments utilizing Level 1 inputs by obtaining fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes and live trading levels from the Chicago Board of Trade market and New York Mercantile Exchange. Corn and soybean futures and options and soybean forward purchase contracts are reported at fair value utilizing Level 2 inputs from current contract prices that are being issued by the Company. Estimated fair values for inventories carried at market are based on exchange-quoted prices, adjusted for differences in local markets and quality.

BANK FINANCING

BANK FINANCING	9 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
BANK FINANCING	BANK FINANCING The Company has a loan agreement consisting of three loans, the Declining Revolving Loan (Declining Loan), the Revolving Credit Loan and the Grain Loadout Facility Loan (formerly the Construction Loan) in exchange for liens on all property (real and personal, tangible and intangible) which include, among other things, a mortgage on the property, a security interest on commodity trading accounts and assignment of material contracts. The loan agreement assigns an interest rate of LIBOR plus 290 basis points (2.9%) to each of the individual loans. The Revolving Credit Loan is assigned the one month LIBOR rate which changes on the first day of every month. The Declining Loan and the Grain Loadout Facility Loan each have interest charged based on the ninety day (three month) LIBOR rate. The interest rate is assigned at the beginning of the ninety day period and not all of the loans have the same interest rate beginning and ending dates. The Company amended the loan agreement effective as of February 28, 2020, to extend the termination date of the Revolving Credit Loan from February 28, 2020 to February 28, 2021. In addition, the Company amended the loan agreement in order to provide for a process for the parties to agree upon a new interest rate index and margin to be applied to that index in the event that the lender determines that the LIBOR Rate is unavailable or unreliable. Finally, the Company amended the loan agreement to provides for a minimum fixed charge coverage ratio of no less than 1.15 :1.0 measured quarterly on a rolling four quarter average basis if our working capital is less than $23,000,000 for any reporting period and a debt service charge coverage ratio of no less than 1.25 :1.0 measured quarterly on a rolling four quarter average basis, in lieu of the fixed charge coverage ratio, if working capital is equal to or more that $23,000,000 . Declining Note The maximum availability of the Declining Loan is $5,000,000 with such amount to be available for working capital purposes. The interest rate on the Declining Loan at June 30, 2020 was 3.20% and at September 30, 2019 was 5.00% . There were no borrowings outstanding on the Declining Loan at June 30, 2020 or at September 30, 2019 . Revolving Credit Loan The Revolving Credit Loan has a limit of $15,000,000 supported by a borrowing base made up of the Company's corn, ethanol, dried distillers grain, corn oil and soybean inventories reduced by accounts payable associated with those inventories having a priority. It is also supported by the eligible accounts receivable and commodity trading account excess margin funds. The interest rate at June 30, 2020 was 3.08% and at September 30, 2019 was 5.01% . There were no borrowings outstanding June 30, 2020 or at September 30, 2019 . The Revolving Credit Loan is due to mature on February 28, 2021. Grain Loadout Facility Loan The Grain Loadout Facility Loan (formerly Construction Loan) had a limit of $10,000,000 . The interest rate at June 30, 2020 was 3.25% and at September 30, 2019 was 5.04% . There were borrowings in the amount of approximately $5,212,000 and $6,726,000 outstanding on the Grain Loadout Facility Loan at June 30, 2020 and September 30, 2019 , respectively. The principal balance on the Construction Loan of $10,000,000 was converted to term debt effective December 31, 2017. The Grain Loadout Facility Loan requires monthly installment payments of principal of approximately $119,000 plus interest accrued in arrears from the date of the last payment, such payments commenced on February 1, 2018, with a final maturity date of February 28, 2023. These loans are subject to protective covenants, which require the Company to maintain various financial ratios. The covenants include a working capital requirement of $15,000,000 , and a capital expenditures covenant that allows the Company $5,000,000 of expenditures per year without prior approval. There is also a requirement to maintain a minimum fixed charge coverage ratio of no less than 1.15 :1.0 measured quarterly on a rolling four quarter basis. Paycheck Protection Program Loan On April 20, 2020, the Company received a loan in the approximate amount of $856,000 through the Paycheck Protection Program. Management expects that the entire loan will be used for payroll, utilities and interest on our one mortgage loan; therefore, anticipates that the loan will be substantially forgiven. To the extent it is not forgiven, the Company would be required to repay that portion at an interest rate of interest of 1% over eighteen months beginning six months after the loan is executed. Long-term debt, as discussed above, consists of the following at June 30, 2020 : Grain Loadout facility loan $ 5,212,434 Paycheck Protection Program loan 856,665 Total long-term debt $ 6,069,099 Less amounts due within one year $ 1,708,665 Net long-term debt $ 4,360,434 The estimated maturities of long-term debt at June 30, 2020 are as follows: July 1, 2020 to June 30, 2021 $ 1,708,665 July 1, 2021 to June 30, 2022 2,001,015 July 1, 2022 to June 30, 2023 2,359,419 Total long-term debt $ 6,069,099

LEASES

LEASES	9 Months Ended
	Jun. 30, 2020
Leases [Abstract]
LEASES	LEASES Adoption of ASC 842 As discussed in Note 1, on October 1, 2019, the Company adopted the provisions of ASC 842 using the modified retrospective approach, which applies the provisions of ASC 842 upon adoption, with no change to prior periods. This adoption resulted in the Company recognizing initial right of use assets and lease liabilities of approximately $7.2 million . The adoption did not have a significant impact on the Company’s statement of operations. Upon the initial adoption of ASC 842, the Company elected the following practical expedients allowable under the guidance: not to reassess whether any expired or existing contracts are or contain leases; not to reassess the lease classification for any expired or existing leases; not to reassess initial direct costs for any existing leases. Additionally, the Company elected the short-term lease exemption policy, applying the requirements of ASC 842 to only long-term (greater than 1 year) leases. The Company leases rail cars for its facility to transport ethanol and dried distillers grains to its end customers. Operating lease right of use assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The Company uses its estimated incremental borrowing rate, unless an implicit rate is readily determinable, as the discount rate for each lease in determining the present value of lease payments. For the three and nine months ended June 30, 2020, the Company’s weighted average discount rate was 5.05% . Operating lease expense is recognized on a straight-line basis over the lease term. The Company determines if an arrangement is a lease or contains a lease at inception. The Company’s leases have remaining lease terms of approximately 1 year to 2.5 years , which may include options to extend the lease when it is reasonably certain the Company will exercise those options. For the three and nine months ended June 30, 2020, the weighted average remaining lease term was 2.2 years . The Company does not have lease arrangements with residual value guarantees, sale leaseback terms or material restrictive covenants. The Company does not have any material finance lease obligations nor sublease agreements. The following table summarizes the remaining maturities of the Company’s operating lease liabilities as of June 30, 2020: For the Fiscal Year Ending September 30, 2020 $ 693,420 2021 $ 2,773,680 2022 $ 2,016,222 2023 $ 312,480 Totals 5,795,802 Amount representing interest 310,971 Lease liabilities $ 5,484,831 For the three months ended June 30, 2020 , the Company recorded operating lease costs of approximately $425,000 against ethanol revenue and $ 229,000 in cost of goods sold in the Company’s statement of operations. For the nine months ended June 30, 2020 , the Company recorded operating lease costs of approximately $1,592,000 against ethanol revenue and $688,000 in cost of goods sold in the Company's statement of operations.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Legal Proceedings In February 2010, a lawsuit against the Company was filed by an unrelated party claiming the Company's operation of the oil separation system in a patent infringement. In connection with the lawsuit, in February 2010, the agreement for the construction and installation of the tricanter oil separation system was amended. In this amendment the manufacturer and installer of the tricanter oil separation system indemnifies the Company against all claims of infringement of patents, copyrights or other intellectual property rights from the Company's purchase and use of the tricanter oil system and agrees to defend the Company in the lawsuit filed at no expense to the Company. On October 23, 2014, the court granted summary judgment finding that all of the patents claimed were invalid and that the Company had not infringed. In addition, on September 15, 2016, the United States District Court granted summary judgment finding that the patents were invalid due to inequitable conduct before the US Patent and Trademark Office by the inventors and their attorneys. The Company has since settled with the attorneys for the inventors. On March 2, 2020, the rulings were affirmed on appeal. GS CleanTech's petition for a rehearing of the appeal has been denied. GS CleanTech can petition the U.S. Supreme Court for a writ of certiorari to review the decision. The manufacturer has, and the Company expects it will continue, to vigorously defend itself and the Company in these lawsuits and in any appeal filed. If the ruling was to be successfully appealed, the Company estimates that damages sought in this litigation if awarded would be based on a reasonable royalty to, or lost profits of, the plaintiff. If the court deems the case exceptional, attorney's fees may be awarded and are likely to be $1,000,000 or more. The manufacturer has also agreed to indemnify the Company for these fees. However, in the event that damages are awarded and if the manufacturer is unable to fully indemnify the Company for any reason, the Company could be liable. In addition, the Company may need to cease use of its current oil separation process and seek out a replacement or cease oil production altogether. Rail Car Rehabilitation Costs The Company leases 180 hopper rail cars under a multi-year agreement. Under the agreement, we may be charged amounts to rehabilitate each car for "damage" that is considered to be other than normal wear and tear upon turn in of the car(s). Prior to the quarter ending September 30, 2019, the Company believed ongoing repairs results in an insignificant future rehabilitation expense. During the quarter ending September 30, 2019, based on new information from the lessor, we re-evaluated our assumptions and believe that we may be assessed for damages incurred. Company management has estimated total costs to rehabilitate the cars at June 30, 2020 , to be approximately $1,378,080 . During the three and nine months ended June 30, 2020 , the Company has recorded a corresponding expense in cost of goods sold of approximately $75,000 and 224,000 , respectively.

UNCERTAINTIES IMPACTING THE ETH

UNCERTAINTIES IMPACTING THE ETHANOL INDUSTRY AND OUR FUTURE OPERATIONS	9 Months Ended
	Jun. 30, 2020
Risks and Uncertainties [Abstract]
UNCERTAINTIES IMPACTING THE ETHANOL INDUSTRY AND OUR FUTURE OPERATIONS	CONCENTRATIONS Two major customers accounted for approximately 93% and 92% of the outstanding accounts receivable balance at June 30, 2020 and September 30, 2019 , respectively. These same two customers accounted for approximately 80% of revenue for the three and nine month period ended June 30, 2020 and 82% of revenue for the three and nine months ended June 30, 2019. UNCERTAINTIES IMPACTING THE ETHANOL INDUSTRY AND OUR FUTURE OPERATIONS The Company has certain risks and uncertainties that it experiences during volatile market conditions, which can have a severe impact on operations. The Company's revenues are primarily derived from the sale and distribution of ethanol, distillers grains and corn oil to customers primarily located in the U.S. Corn for the production process is supplied to the plant primarily from local agricultural producers and from purchases on the open market. Ethanol sales average approximately 64% of total revenues and corn costs average 71% of total cost of goods sold. The Company's operating and financial performance is largely driven by prices at which the Company sells ethanol, distillers grains and corn oil, and the related cost of corn. The price of ethanol is influenced by factors such as supply and demand, weather, government policies and programs, and the unleaded gasoline and the petroleum markets, although, since 2005, the prices of ethanol and gasoline began a divergence with ethanol selling for less than gasoline at the wholesale level. Excess ethanol supply in the market, in particular, puts downward pressure on the price of ethanol. The Company's largest cost of production is corn. The cost of corn is generally impacted by factors such as supply and demand, weather, government policies and programs. The Company's risk management program is used to protect against the price volatility of these commodities. The Company, and the ethanol industry as a whole, experienced adverse conditions throughout most of 2018 and 2019, and thus far into 2020, as a result of industry-wide record low ethanol prices due to reduced demand and high industry inventory levels. These factors, which are compounded by the recent impact of the novel coronavirus (“COVID-19”), resulted and continue to result in negative operating margins, lower cash flow from operations and net operating losses, which included write downs of inventory and impairment of corn forward purchase contracts of approximately $2.8 million for the nine months ended June 30, 2020 . In response to the low margin environment, the Company reduced its ethanol production rate by approximately 20% . As margins improved in May of 2020, the Company began increasing its ethanol production rate to approximately 135 million gallons annually. The Company continues to monitor COVID-19 developments in order to determine whether future adjustments to production are warranted. The Company believes its cash on hand and available debt from its lender will provide sufficient liquidity to meets its anticipated working capital, debt service and other liquidity needs through the next twelve months. If market conditions worsen affecting our ability to profitably operate the plant or if we are unable to transport ethanol, we may be forced to further reduce our ethanol production rate or even temporarily shut down ethanol production altogether.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	9 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
BUSINESS SEGMENTS	BUSINESS SEGMENTS Based on the growth of the Company's Trading Division during the first quarter of fiscal 2019 and operations in fiscal 2019, the Company has determined it now has two reportable operating segments. Segment reporting is intended to give financial statement users a better view of how the Company manages and evaluates its businesses. The accounting policies for each segment are the same as those described in the summary of significant accounting policies. Segment income or loss does not include any allocation of shared-service costs. Segment assets are those that are directly used in or identified with segment operations. Inter-segment balances and transactions have been eliminated. The following tables summarize financial information by segment and provide a reconciliation of segment revenue, gross profit, grain inventories, operating income, and total assets: Three Months Ended Nine Months Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Revenue: (unaudited) (unaudited) (unaudited) (unaudited) Ethanol Division $ 45,237,858 $ 54,241,337 $ 158,592,426 $ 157,541,956 Trading Division $ 6,014,203 $ 9,424,119 $ 23,675,176 $ 20,629,926 Total Revenue $ 51,252,061 $ 63,665,456 $ 182,267,602 $ 178,171,882 Three Months Ended Nine Months Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Gross Profit: (unaudited) (unaudited) (unaudited) (unaudited) Ethanol Division $ 1,141,810 $ 311,720 $ (1,055,956 ) $ 1,497,603 Trading Division $ 516,126 $ 766,318 $ 1,480,392 $ 684,250 Total Gross Profit $ 1,657,936 $ 1,078,038 $ 424,436 $ 2,181,853 Three Months Ended Nine Months Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Operating Income (Loss): (unaudited) (unaudited) (unaudited) (unaudited) Ethanol Division $ (131,068 ) $ (962,372 ) $ (5,315,449 ) $ (2,818,672 ) Trading Division $ 198,883 $ 449,075 $ 528,663 $ (267,479 ) Total Operating Income (Loss) $ 67,815 $ (513,297 ) $ (4,786,786 ) $ (3,086,151 ) June 30, 2020 September 30, 2019 Grain Inventories: (unaudited) Ethanol Division $ 7,938,452 $ 5,457,534 Trading Division $ 4,368,357 $ 1,426,098 Total Grain Inventories $ 12,306,809 $ 6,883,632 June 30, 2020 September 30, 2019 Total Assets: (unaudited) Ethanol Division $ 117,467,781 $ 124,310,575 Trading Division $ 16,257,011 $ 13,241,062 Total Assets $ 133,724,792 $ 137,551,637

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Reportable Segments	Reportable Segments Accounting Standards Codification (“ASC”) 280, “Segment Reporting,” establishes the standards for reporting information about segments in financial statements. Operating segments are defined as components of an enterprise for which separate financial information is available that are evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. Based on the related business nature and expected financial results criteria set forth in ASC 280, the Company has two reportable operating segments for financial reporting purposes. • Ethanol Production Division. Based on the nature of the products and production process and the expected financial results, the Company’s operations at its ethanol plant, including the production and sale of ethanol and its co-products, are aggregated into one financial reporting segment. • Trading Division. During 2017, the Company constructed a grain loading facility within our single site to buy, hold and sell inventories of agricultural grains, primarily soybeans. We perform no additional processing of these grains, unlike the corn inventory we hold and use in ethanol production. The activities of buying, selling and holding of grains other than for ethanol and co-product production comprise this financial reporting segment.
Accounting Estimates	Accounting Estimates Management uses estimates and assumptions in preparing these financial statements in accordance with generally accepted accounting principles. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. The Ethanol Division uses estimates and assumptions in accounting for the following significant matters, among others; the useful lives of fixed assets, inventory, patronage dividends, the assumptions used in the analysis of the impairment of long lived assets, railcar rehabilitation costs, and inventory purchase commitments. The Trading Division uses estimates and assumptions in accounting for the following significant matters, among others; the useful lives of fixed assets, the valuation of inventory purchase and sale commitments derivatives and inventory at market. Actual results may differ from previously estimated amounts, and such differences may be material to the financial statements. The Company periodically reviews estimates and assumptions, and the effects of revisions are reflected in the period in which the revision is made.
Restricted Cash	Restricted Cash As a part of its commodities hedging activities, the Company is required to maintain cash balances with our commodities trading companies for initial and maintenance margins on a per futures contract basis. Changes in the market value of contracts may increase these requirements. As the futures contracts expire, the margin requirements also expire. Accordingly, we record the cash maintained with the traders in the margin accounts as restricted cash. Since this cash is immediately available to us upon request when there is a margin excess, we consider this restricted cash to be a current asset.
Trade Accounts Receivable	Trade Accounts Receivable Credit terms are extended to customers in the normal course of business. The Company performs ongoing credit evaluations of its customers' financial condition and, generally, requires no collateral. Accounts receivable are recorded at their estimated net realizable value. Accounts are considered past due if payment is not made on a timely basis in accordance with the Company's credit terms. Amounts considered uncollectible are written off. The Company's estimate of the allowance for doubtful accounts is based on historical experience, its evaluation of the current status of receivables, and unusual circumstances, if any.
Revenue Recognition	Revenue Recognition Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. Our contracts primarily consist of agreements with marketing companies and other customers as described below. Our performance obligations consist of the delivery of ethanol, distillers' grains, corn oil, soybeans and carbon dioxide to our customers. The consideration we receive for these products is fixed based on current observable market prices at the Chicago Mercantile Exchange, generally, and adjusted for local market differentials. Our contracts have specific delivery modes, rail or truck, and dates. Revenue is recognized when the Company delivers the products to the mode of transportation specified in the contract, at the transaction price established in the contract, net of commissions, fees, and freight. We sell each of the products via different marketing channels as described below. • Ethanol. The Company sells its ethanol via a marketing agreement with Murex, LLC. Murex sells one hundred percent of the Company's ethanol production based on agreements with end users at prices agreed upon mutually among the end user, Murex and the Company. Murex then provides a schedule of deliveries required and an order for each rail car or tankers needed to fulfill their commitment with the end user. These are individual performance obligations of the Company. The marketing agreement calls for control and title to pass when the delivery vehicle is filled. Revenue is recognized then at the price in the agreement with the end user, net of commissions, freight, and insurance. • Distillers grains. The Company engages another third-party marketing company, CHS, Inc, to sell one hundred percent of the distillers grains it produces at the plant. The process for selling the distillers grains is like that of ethanol, except that CHS takes title and control once a rail car is released to the railroad or a truck is released from the Company's scales. Prices are agreed upon among the three parties and CHS provides schedules and orders representing performance obligations. Revenue is recognized net of commissions, freight and fees. • Distillers corn oil (corn oil). The Company sells its production of corn oil directly to commercial customers. The customer is provided with a delivery schedule and pick up orders representing performance obligations are fulfilled when the customer’s driver picks up the scheduled load. The price is agreed upon at the time each contract is made, and the Company recognizes revenue at the time of delivery at that price. • Carbon dioxide. The Company sells a portion of the carbon dioxide it produces to a customer that maintains a plant on-site for a set price per ton. Delivery is defined as transference of the gas from our stream to their plant. • Soybeans and other grains. The Company sells soybeans exclusively to commercial mills, processors or grain traders. Contracts are negotiated directly with the parties at prices based on negotiated prices. • Other. The Company engaged in ethanol sales for sanitizer use during the quarter ended June 30, 2020 as result of a direct domestic need from COVID-19. The Company has since discontinued ethanol for sanitizer sales. Payment Terms The Company has contractual payment terms with each respective marketer that sells ethanol and distillers grains. These terms are generally 10 - 20 days after the week of the transfer of control. The Company has standard payment terms of net 10 days for its invoices for corn oil. The Company has standard payments terms due upon delivery for its invoices of soybeans. The contractual terms with the carbon dioxide customer calls for an annual settlement. Shipping and Handling Costs Shipping and handling costs related to contracts with customers for sale of goods are accounted for as a fulfillment activity and are included in cost of goods sold. Accordingly, amounts billed to customers for such costs are included as a component of revenue. Revenue Recognition Revenue is recognized at a single point in time when the Company satisfies its performance obligation under the terms of a contract with a customer. Generally, this occurs with the transfer of control of products or services. Revenue is measured as the amount of consideration expected, as specified in the contract with a customer, to be received in exchange for transferring goods or providing services.
Inventories	Inventories Ethanol production division inventories consist of raw materials, work in process, finished goods and spare parts. Corn is the primary raw material. Finished goods consist of ethanol, dried distiller grains and corn oil. Inventories are stated at the lower of weighted average cost or net realizable value. Net realizable value is the estimated selling prices in the normal course of business, less reasonably predictable selling costs. Trading division inventories consist of grain. Soybeans were the only grains held and traded at June 30, 2020 and September 30, 2019 . These inventories are stated at market value less estimated selling costs, which may include reductions for quality.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant, and equipment are stated at cost. Depreciation is provided over estimated useful lives by use of the straight line depreciation method. Maintenance and repairs are expensed as incurred; major improvements and betterments are capitalized. Construction in progress expenditures will be depreciated using the straight-line method over their estimated useful lives once the assets are placed into service.
Long-Lived Assets	Long-Lived Assets The Company reviews its long-lived assets, such as property, plant and equipment and financing costs, subject to depreciation and amortization, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by an asset to the carrying value of the asset. If the carrying value of the long-lived asset is not recoverable on an undiscounted cash flow basis, impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary.
Investment	Investment Investments consist of the capital stock and patron equities of the Company's distillers grains marketer. The investments are stated at the lower of cost or fair value and adjusted for non cash patronage equities and cash equity redemptions received. Non cash patronage dividends are recognized when received and included within revenue in the condensed statements of operations.
Derivative Instruments	Derivative Instruments From time to time the Company enters into derivative transactions to hedge its exposures to commodity price fluctuations. The Company is required to record these derivatives in the balance sheet at fair value. In order for a derivative to qualify as a hedge, specific criteria must be met and appropriate documentation maintained. Gains and losses from derivatives that do not qualify as hedges, or are undesignated, must be recognized immediately in earnings. If the derivative does qualify as a hedge, depending on the nature of the hedge, changes in the fair value of the derivative will be either offset against the change in fair value of the hedged assets, liabilities, or firm commitments through earnings or recognized in other comprehensive income until the hedged item is recognized in earnings. Changes in the fair value of undesignated derivatives are recorded in the statement of operations, depending on the item being hedged. Additionally, the Company is required to evaluate its contracts to determine whether the contracts are derivatives. Certain contracts that literally meet the definition of a derivative may be exempted as “normal purchases or normal sales”. Normal purchases and normal sales are contracts that provide for the purchase or sale of something other than a financial instrument or derivative instrument that will be delivered in quantities expected to be used or sold over a reasonable period in the normal course of business. Contracts that meet the requirements of normal purchases or sales are documented as normal and exempted from accounting and reporting requirements, and therefore, are not marked to market in our financial statements. The Company has elected for its Ethanol Division to apply the normal purchase normal sale exemption to all forward commodity contracts. For the Trading Division, the Company has elected not to apply the normal purchase normal sale exemption to its forward purchase and sales contracts and therefore marks these derivative instruments to market.
Net Income (Loss) per Unit	Net Income (Loss) per Unit Basic net income (loss) per unit is computed by dividing net income (loss) by the weighted average number of members' units outstanding during the period. Diluted net income (loss) per unit is computed by dividing net income (loss) by the weighted average number of members' units and members' unit equivalents outstanding during the period. There were no member unit equivalents outstanding during the periods presented; accordingly, the Company's basic and diluted net income (loss) per unit are the same.
Recently Issued or Adopted Accounting Pronouncements	Recently Issued or Adopted Accounting Pronouncements Accounting for Leases (Adopted) Recent Accounting Pronouncements – In February 2016, the Financial Accounting Standards Board (“FASB”) issued new guidance on accounting for leases under Accounting Standards Codification 842 (“ASC 842”). Under the new guidance, lessees are required to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted cash flow basis; and (2) a “right of use” asset, which is an asset that represents the lessee’s right to use the specified asset for the lease term. Lease expense under the new guidance is substantially the same as prior to the adoption. See Note 8 for further information.

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables disaggregate revenue by major source for the three months and nine months ended June 30, 2020 and 2019 : Three Months Ended June 30, 2020 Ethanol Division Trading Division Total Revenues from contracts with customers under ASC Topic 606 Ethanol $ 31,322,704 $ — $ 31,322,704 Distillers' grains 9,770,811 — 9,770,811 Corn Oil 2,225,717 — 2,225,717 Carbon Dioxide 123,375 — 123,375 Other 1,795,251 22,625 1,817,876 Total revenues from contracts with customers 45,237,858 22,625 45,260,483 Revenues from contracts accounted for as derivatives under ASC Topic 815 (1) Soybeans and other grains — 5,991,578 5,991,578 Total revenues from contracts accounted for as derivatives — 5,991,578 5,991,578 Total Revenues $ 45,237,858 $ 6,014,203 $ 51,252,061 Nine Months Ended June 30, 2020 Ethanol Division Trading Division Total Revenues from contracts with customers under ASC Topic 606 Ethanol $ 116,998,260 $ — $ 116,998,260 Distillers' grains 31,952,429 — 31,952,429 Corn Oil 7,233,285 — 7,233,285 Carbon Dioxide 370,125 — 370,125 Other 2,038,327 76,075 2,114,402 Total revenues from contracts with customers 158,592,426 76,075 158,668,501 Revenues from contracts accounted for as derivatives under ASC Topic 815 (1) Soybeans and other grains — 23,599,101 23,599,101 Total revenues from contracts accounted for as derivatives — 23,599,101 23,599,101 Total Revenues $ 158,592,426 $ 23,675,176 $ 182,267,602 Three Months Ended June 30, 2019 Ethanol Division Trading Division Total Revenues from contracts with customers under ASC Topic 606 Ethanol $ 42,284,298 $ — $ 42,284,298 Distillers' grains 9,939,220 — 9,939,220 Corn Oil 1,885,100 — 1,885,100 Carbon Dioxide 123,375 — 123,375 Other 9,344 15,350 24,694 Total revenues from contracts with customers 54,241,337 15,350 54,256,687 Revenues from contracts accounted for as derivatives under ASC Topic 815 (1) Soybeans and other grains — 9,408,769 9,408,769 Total revenues from contracts accounted for as derivatives — 9,408,769 9,408,769 Total Revenues $ 54,241,337 $ 9,424,119 $ 63,665,456 Nine Months Ended June 30, 2019 Ethanol Division Trading Division Total Revenues from contracts with customers under ASC Topic 606 Ethanol $ 120,110,027 $ — $ 120,110,027 Distillers' grains 31,483,092 — 31,483,092 Corn Oil 5,524,019 — 5,524,019 Carbon Dioxide 386,270 — 386,270 Other 38,548 24,250 62,798 Total revenues from contracts with customers 157,541,956 24,250 157,566,206 Revenues from contracts accounted for as derivatives under ASC Topic 815 (1) Soybeans and other grains — 20,605,676 20,605,676 Total revenues from contracts accounted for as derivatives — 20,605,676 20,605,676 Total Revenues $ 157,541,956 $ 20,629,926 $ 178,171,882 (1) Revenues from contracts accounted for as derivatives represent physically settled derivative sales that are outside the scope of ASC Topic 606, Revenue from Contracts with Customers (ASC Topic 606), where the company recognizes revenue when control of the inventory is transferred within the meaning of ASC Topic 606 as required by ASC Topic 610-20, Gains and Losses from the Derecognition of Nonfinancial Assets.

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories consist of the following as of: June 30, 2020 (Unaudited) September 30, 2019 Ethanol Division: Raw materials $ 7,938,452 $ 5,457,534 Work in progress 1,287,574 1,639,946 Finished goods 2,106,919 1,657,065 Spare parts 3,593,024 3,259,165 Ethanol Division Subtotal $ 14,925,969 $ 12,013,710 Trading Division: Grain inventory $ 4,368,357 $ 1,426,098 Trading Division Subtotal $ 4,368,357 $ 1,426,098 Total Inventories $ 19,294,326 $ 13,439,808

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	9 Months Ended
	Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location	The following table provides balance sheet details regarding the Company's derivative financial instruments at September 30, 2019 : Instrument Balance Sheet Location Assets Liabilities Ethanol Futures and Options Contracts Futures & Options Derivatives $ — $ 81,900 Corn Futures and Options Contracts Futures & Options Derivatives — 963,213 Soybean Futures and Options Contracts Futures & Options Derivatives 221,947 — Soybean Forward Purchase and Sales Contracts Forward Purchase/Sales Derivatives 90,815 171,770 Totals $ 312,762 $ 1,216,883 The following table provides balance sheet details regarding the Company's derivative financial instruments at June 30, 2020 : Instrument Balance Sheet Location Assets Liabilities Ethanol Futures and Options Contracts Futures & Options Derivatives $ — $ 2,023,854 Corn Futures and Options Contracts Futures & Options Derivatives 383,928 — Soybean Futures and Options Contracts Futures & Options Derivatives — 38,825 Soybean Forward Purchase and Sales Contracts Forward Purchase/Sales Derivatives 48,151 152,772 Totals $ 432,079 $ 2,215,451
Derivatives Not Designated as Hedging Instruments	The following table provides details regarding the gains and (losses) from the Company's derivative instruments in the statements of operations, none of which are designated as hedging instruments: Instrument Statement of Operations Location Three Months Ended June 30, 2019 Nine Months Ended June 30, 2019 Three Months Ended June 30, 2020 Nine Months Ended June 30, 2020 Corn Futures and Options Contracts Cost of Goods Sold $ 342,057 $ 13,444 $ 901,144 $ 3,299,787 Ethanol Futures and Options Contracts Revenues 288,574 474,015 (1,189,256 ) (3,753,455 ) Natural Gas Futures and Options Contracts Cost of Goods Sold (14,373 ) 23,354 — — Soybean Futures and Options Contracts Cost of Goods Sold (24,080 ) 263,812 159,073 810,450 Soybean Forward Purchase Contracts Cost of Goods Sold 1,275,534 2,777,541 190,883 54,719 Totals $ 1,867,712 $ 3,552,166 $ 61,844 $ 411,501

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table provides information on those assets and liabilities measured at fair value on a recurring basis as of June 30, 2020 : Instruments Carrying Amount Fair Value Level 1 Level 2 Level 3 Corn Futures and Options Contracts $ 383,928 $ 383,928 $ 372,156 $ 11,772 $ — Ethanol Futures and Options Contracts $ (2,023,854 ) $ (2,023,854 ) $ (2,023,854 ) $ — $ — Soybean Futures and Options Contracts $ (38,825 ) $ (38,825 ) $ (38,825 ) $ — $ — Soybean Forward Purchase Contracts, net $ (104,621 ) $ (104,621 ) $ — $ (104,621 ) $ — Soybean Inventory $ 4,368,357 $ 4,368,357 $ — $ 4,368,357 $ — The following table provides information on those assets and liabilities measured at fair value on a recurring basis as of September 30, 2019 : Instruments Carrying Amount Fair Value Level 1 Level 2 Level 3 Corn Futures and Options Contracts $ (963,213 ) $ (963,213 ) $ 2,685,231 $ (3,648,444 ) $ — Ethanol Futures and Options Contracts $ (81,900 ) $ (81,900 ) $ (81,900 ) $ — $ — Soybean Futures and Options Contracts $ 221,947 $ 221,947 $ 234,875 $ (12,928 ) $ — Soybean Forward Purchase Contracts, net $ (80,955 ) $ (80,955 ) $ — $ (80,955 ) $ — Soybean Inventory $ 1,426,098 $ 1,426,098 $ — $ 1,426,098 $ —

BANK FINANCING (Tables)

BANK FINANCING (Tables)	9 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt, as discussed above, consists of the following at June 30, 2020 : Grain Loadout facility loan $ 5,212,434 Paycheck Protection Program loan 856,665 Total long-term debt $ 6,069,099 Less amounts due within one year $ 1,708,665 Net long-term debt $ 4,360,434
Schedule of Maturities of Long-term Debt	The estimated maturities of long-term debt at June 30, 2020 are as follows: July 1, 2020 to June 30, 2021 $ 1,708,665 July 1, 2021 to June 30, 2022 2,001,015 July 1, 2022 to June 30, 2023 2,359,419 Total long-term debt $ 6,069,099

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Schedule of Future Minimum Payments for Capital and Operating Leases	The following table summarizes the remaining maturities of the Company’s operating lease liabilities as of June 30, 2020: For the Fiscal Year Ending September 30, 2020 $ 693,420 2021 $ 2,773,680 2022 $ 2,016,222 2023 $ 312,480 Totals 5,795,802 Amount representing interest 310,971 Lease liabilities $ 5,484,831

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	9 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables summarize financial information by segment and provide a reconciliation of segment revenue, gross profit, grain inventories, operating income, and total assets: Three Months Ended Nine Months Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Revenue: (unaudited) (unaudited) (unaudited) (unaudited) Ethanol Division $ 45,237,858 $ 54,241,337 $ 158,592,426 $ 157,541,956 Trading Division $ 6,014,203 $ 9,424,119 $ 23,675,176 $ 20,629,926 Total Revenue $ 51,252,061 $ 63,665,456 $ 182,267,602 $ 178,171,882 Three Months Ended Nine Months Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Gross Profit: (unaudited) (unaudited) (unaudited) (unaudited) Ethanol Division $ 1,141,810 $ 311,720 $ (1,055,956 ) $ 1,497,603 Trading Division $ 516,126 $ 766,318 $ 1,480,392 $ 684,250 Total Gross Profit $ 1,657,936 $ 1,078,038 $ 424,436 $ 2,181,853 Three Months Ended Nine Months Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Operating Income (Loss): (unaudited) (unaudited) (unaudited) (unaudited) Ethanol Division $ (131,068 ) $ (962,372 ) $ (5,315,449 ) $ (2,818,672 ) Trading Division $ 198,883 $ 449,075 $ 528,663 $ (267,479 ) Total Operating Income (Loss) $ 67,815 $ (513,297 ) $ (4,786,786 ) $ (3,086,151 ) June 30, 2020 September 30, 2019 Grain Inventories: (unaudited) Ethanol Division $ 7,938,452 $ 5,457,534 Trading Division $ 4,368,357 $ 1,426,098 Total Grain Inventories $ 12,306,809 $ 6,883,632 June 30, 2020 September 30, 2019 Total Assets: (unaudited) Ethanol Division $ 117,467,781 $ 124,310,575 Trading Division $ 16,257,011 $ 13,241,062 Total Assets $ 133,724,792 $ 137,551,637

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) gal in Thousands, $ in Millions	3 Months Ended	9 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2020segmentgal	Jun. 30, 2019gal
Product Information [Line Items]
Number of reportable segments		2
Number of operating segments		2
Ethanol
Product Information [Line Items]
Annual production | gal		96,403	94,904
Storage
Product Information [Line Items]
Additional liquefaction tank and fermenter cost | $	$ 1.7

REVENUE - Disaggregation of Rev

REVENUE - Disaggregation of Revenue (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	$ 45,260,483	$ 54,256,687	$ 158,668,501	$ 157,566,206
Total revenues from contracts accounted for as derivatives	5,991,578	9,408,769	23,599,101	20,605,676
Total Revenues	51,252,061	63,665,456	182,267,602	178,171,882
Ethanol
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	31,322,704	42,284,298	116,998,260	120,110,027
Distillers' grains
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	9,770,811	9,939,220	31,952,429	31,483,092
Corn Oil
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	2,225,717	1,885,100	7,233,285	5,524,019
Carbon Dioxide
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	123,375	123,375	370,125	386,270
Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	1,817,876	24,694	2,114,402	62,798
Soybeans and other grains
Disaggregation of Revenue [Line Items]
Total revenues from contracts accounted for as derivatives	5,991,578	9,408,769	23,599,101	20,605,676
Ethanol Division
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	45,237,858	54,241,337	158,592,426	157,541,956
Total revenues from contracts accounted for as derivatives	0	0	0	0
Total Revenues	45,237,858	54,241,337	158,592,426	157,541,956
Ethanol Division | Ethanol
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	31,322,704	42,284,298	116,998,260	120,110,027
Ethanol Division | Distillers' grains
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	9,770,811	9,939,220	31,952,429	31,483,092
Ethanol Division | Corn Oil
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	2,225,717	1,885,100	7,233,285	5,524,019
Ethanol Division | Carbon Dioxide
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	123,375	123,375	370,125	386,270
Ethanol Division | Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	1,795,251	9,344	2,038,327	38,548
Ethanol Division | Soybeans and other grains
Disaggregation of Revenue [Line Items]
Total revenues from contracts accounted for as derivatives	0	0	0	0
Trading Division
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	22,625	15,350	76,075	24,250
Total revenues from contracts accounted for as derivatives	5,991,578	9,408,769	23,599,101	20,605,676
Total Revenues	6,014,203	9,424,119	23,675,176	20,629,926
Trading Division | Ethanol
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Trading Division | Distillers' grains
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Trading Division | Corn Oil
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Trading Division | Carbon Dioxide
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Trading Division | Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	22,625	15,350	76,075	24,250
Trading Division | Soybeans and other grains
Disaggregation of Revenue [Line Items]
Total revenues from contracts accounted for as derivatives	$ 5,991,578	$ 9,408,769	$ 23,599,101	$ 20,605,676

REVENUE - Narrative (Details)

REVENUE - Narrative (Details)	9 Months Ended
	Jun. 30, 2020
Corn Oil
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, payment terms	10 days
Minimum | Ethanol And Distillers' Grains
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, payment terms	10 days
Maximum | Ethanol And Distillers' Grains
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, payment terms	20 days

CONCENTRATIONS (Details)

CONCENTRATIONS (Details) - Customer Concentration Risk	3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2019
Accounts Receivable
Concentration Risk [Line Items]
Concentration risk			93.00%		92.00%
Sales Revenue, Goods, Net
Concentration Risk [Line Items]
Concentration risk	80.00%	82.00%	80.00%	82.00%

INVENTORIES - Schedule of Inven

INVENTORIES - Schedule of Inventory (Details) - USD ($)	Jun. 30, 2020	Sep. 30, 2019
Inventory [Line Items]
Raw materials	$ 12,306,809	$ 6,883,632
Total Inventories	19,294,326	13,439,808
Ethanol Division
Inventory [Line Items]
Raw materials	7,938,452	5,457,534
Work in progress	1,287,574	1,639,946
Finished goods	2,106,919	1,657,065
Spare parts	3,593,024	3,259,165
Total Inventories	14,925,969	12,013,710
Trading Division
Inventory [Line Items]
Raw materials	4,368,357	1,426,098
Total Inventories	$ 4,368,357	$ 1,426,098

INVENTORIES - Narrative (Detail

INVENTORIES - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2019
Inventory [Line Items]
Inventory written down			$ 2,800,000
Impairment loss			913,000		$ 0
Ethanol Division
Inventory [Line Items]
Inventory written down	$ 72,000	$ 102,000	$ 1,697,000	$ 886,000
Corn | Ethanol Division
Inventory [Line Items]
Expected production needed	8.80%		8.80%
Number of months of coverage			21 months
Distillers' grains | Ethanol Division
Inventory [Line Items]
Expected production needed	36.10%		36.10%
Corn Oil | Ethanol Division
Inventory [Line Items]
Expected production needed	83.70%		83.70%
Number of months of coverage			3 months
Natural Gas | Ethanol Division
Inventory [Line Items]
Expected production needed	75.60%		75.60%
Number of months of coverage			19 months
Soybean | Trading Division
Inventory [Line Items]
Expected production needed	57.00%		57.00%
Affiliated Entity | Corn | Ethanol Division
Inventory [Line Items]
Expected production needed	6.20%		6.20%
Affiliated Entity | Soybean | Trading Division
Inventory [Line Items]
Expected production needed	10.30%		10.30%

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details)	9 Months Ended
	Jun. 30, 2020USD ($)brokerbu	Sep. 30, 2019USD ($)broker
Derivative [Line Items]
Cash collateral | $	$ 5,100,000	$ 6,363,000
Number of brokers, cash collateral | broker	4	2
Due to broker | $	$ 0	$ 1,589,324
Ethanol Division | Corn | Short | Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative, nonmonetary notional amount, volume (in bushels or gallons)	3,087,905
Ethanol Division | Ethanol | Short | Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative, nonmonetary notional amount, volume (in bushels or gallons)	23,520,000
Trading Division | Soybean | Short | Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative, nonmonetary notional amount, volume (in bushels or gallons)	100,000

Derivative Instruments - Balanc

Derivative Instruments - Balance Sheet (Details) - Not Designated as Hedging Instrument - USD ($)	Jun. 30, 2020	Sep. 30, 2019
Derivatives, Fair Value [Line Items]
Assets	$ 432,079	$ 312,762
Liabilities	2,215,451	1,216,883
Future | Ethanol | Futures & Options Derivatives
Derivatives, Fair Value [Line Items]
Assets	0	0
Liabilities	2,023,854	81,900
Future | Corn | Futures & Options Derivatives
Derivatives, Fair Value [Line Items]
Assets	383,928	0
Liabilities	0	963,213
Future | Soybean | Futures & Options Derivatives
Derivatives, Fair Value [Line Items]
Assets	0	221,947
Liabilities	38,825	0
Forward Contracts | Soybean | Forward Purchase/Sales Derivatives
Derivatives, Fair Value [Line Items]
Assets	48,151	90,815
Liabilities	$ 152,772	$ 171,770

Derivative Instruments - Income

Derivative Instruments - Income Statement (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	$ 61,844	$ 1,867,712	$ 411,501	$ 3,552,166
Future | Not Designated as Hedging Instrument | Corn | Cost of Goods Sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	901,144	342,057	3,299,787	13,444
Future | Not Designated as Hedging Instrument | Ethanol | Revenues
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	(1,189,256)	288,574	(3,753,455)	474,015
Future | Not Designated as Hedging Instrument | Natural Gas | Cost of Goods Sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	0	(14,373)	0	23,354
Future | Not Designated as Hedging Instrument | Soybean | Cost of Goods Sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	159,073	(24,080)	810,450	263,812
Forward Contracts | Not Designated as Hedging Instrument | Soybean | Cost of Goods Sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	$ 190,883	$ 1,275,534	$ 54,719	$ 2,777,541

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($)	Jun. 30, 2020	Sep. 30, 2019
Soybean
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	$ 4,368,357	$ 1,426,098
Soybean | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	4,368,357	1,426,098
Soybean | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	0	0
Soybean | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	4,368,357	1,426,098
Soybean | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	0	0
Future | Corn
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	383,928	(963,213)
Future | Corn | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	383,928	(963,213)
Future | Corn | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	372,156	2,685,231
Future | Corn | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	11,772	(3,648,444)
Future | Corn | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	0	0
Future | Ethanol
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	(2,023,854)	(81,900)
Future | Ethanol | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	(2,023,854)	(81,900)
Future | Ethanol | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	(2,023,854)	(81,900)
Future | Ethanol | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	0	0
Future | Ethanol | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	0	0
Future | Soybean
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	(38,825)	221,947
Future | Soybean | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	(38,825)	221,947
Future | Soybean | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	(38,825)	234,875
Future | Soybean | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	0	(12,928)
Future | Soybean | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	0	0
Forward Contracts | Soybean
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	(104,621)	(80,955)
Forward Contracts | Soybean | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	(104,621)	(80,955)
Forward Contracts | Soybean | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	0	0
Forward Contracts | Soybean | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	(104,621)	(80,955)
Forward Contracts | Soybean | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	$ 0	$ 0

BANK FINANCING - Narrative (Det

BANK FINANCING - Narrative (Details)	Apr. 20, 2020USD ($)	Jun. 30, 2020USD ($)loan	Sep. 30, 2019USD ($)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Number of loans | loan		3
Minimum fixed charge coverage ratio		1.15
Working capital requirement		$ 23,000,000
Minimum debt service charge coverage ratio		1.25
Total long-term debt		$ 6,069,099
Loan received	$ 856,000
Declining Note
Debt Instrument [Line Items]
Maximum availability		$ 5,000,000
Interest rate		3.20%	5.00%
Borrowings outstanding		$ 0	$ 0
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum availability		$ 15,000,000
Interest rate		3.08%	5.01%
Borrowings outstanding		$ 0	$ 0
Grain Loadout Facility Loan
Debt Instrument [Line Items]
Minimum fixed charge coverage ratio		1.15
Working capital requirement		$ 15,000,000
Maximum availability		$ 10,000,000		$ 10,000,000
Interest rate		3.25%	5.04%
Total long-term debt		$ 5,212,434
Borrowings outstanding			$ 6,726,000
Monthly installment payment of principal and interest		119,000
Covenant, maximum capital expenditures per year without prior approval		$ 5,000,000
London Interbank Offered Rate (LIBOR) | Declining Note
Debt Instrument [Line Items]
Basis spread on variable rate		2.90%
London Interbank Offered Rate (LIBOR) | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate		2.90%
London Interbank Offered Rate (LIBOR) | Grain Loadout Facility Loan
Debt Instrument [Line Items]
Basis spread on variable rate		2.90%
Minimum
Debt Instrument [Line Items]
Working capital requirement		$ 23,000,000

BANK FINANCING - Schedule of Lo

BANK FINANCING - Schedule of Long-term Debt (Details) - USD ($)	Jun. 30, 2020	Sep. 30, 2019
Debt Instrument [Line Items]
Total long-term debt	$ 6,069,099
Less amounts due within one year	1,708,665	$ 1,428,571
Net long-term debt	4,360,434	$ 5,297,151
Grain Loadout Facility Loan
Debt Instrument [Line Items]
Total long-term debt	5,212,434
Paycheck Protection Program
Debt Instrument [Line Items]
Total long-term debt	$ 856,665

BANK FINANCING - Schedule of De

BANK FINANCING - Schedule of Debt Maturities (Details)	Jun. 30, 2020USD ($)
Debt Disclosure [Abstract]
July 1, 2020 to June 30, 2021	$ 1,708,665
July 1, 2021 to June 30, 2022	2,001,015
July 1, 2022 to June 30, 2023	2,359,419
Total long-term debt	$ 6,069,099

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($)	3 Months Ended	9 Months Ended
	Jun. 30, 2020	Jun. 30, 2020	Oct. 01, 2019	Sep. 30, 2019
Operating Leased Assets [Line Items]
Operating lease right of use asset, net	$ 5,484,792	$ 5,484,792	$ 7,200,000	$ 0
Lease liabilities			$ 7,200,000
Operating lease weighted average discount rate	5.05%	5.05%
Operating lease weighted average remaining lease term	2 years 2 months 12 days	2 years 2 months 12 days
Minimum
Operating Leased Assets [Line Items]
Operating lease term	1 year	1 year
Maximum
Operating Leased Assets [Line Items]
Operating lease term	2 years 6 months	2 years 6 months
Revenue | Ethanol Division
Operating Leased Assets [Line Items]
Operating lease cost	$ 425,000	$ 1,592,000
Cost of Goods Sold | Ethanol Division
Operating Leased Assets [Line Items]
Operating lease cost	$ 229,000	$ 688,000

LEASES (Details)

LEASES (Details) - USD ($)	Jun. 30, 2020	Oct. 01, 2019
Operating Leased Assets [Line Items]
Lease liabilities		$ 7,200,000
Transportation Equipment
Operating Leased Assets [Line Items]
2020	$ 693,420
2021	2,773,680
2022	2,016,222
2023	312,480
Totals	5,795,802
Amount representing interest	310,971
Lease liabilities	$ 5,484,831

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)	3 Months Ended		9 Months Ended
	Jun. 30, 2020USD ($)hopper_rail_car	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)hopper_rail_car	Jun. 30, 2019USD ($)
Loss Contingencies [Line Items]
Hopper rail cars leased | hopper_rail_car	180		180
Cost of goods sold	$ 49,594,125	$ 62,587,418	$ 181,843,166	$ 175,990,029
Pending Litigation
Loss Contingencies [Line Items]
Estimated litigation liability	1,000,000		1,000,000
Rail Car Rehabilitation Cost Liability
Loss Contingencies [Line Items]
Estimated rehabilitation costs	1,378,080		1,378,080
Cost of goods sold	$ 75,000		$ 224,000

UNCERTAINTIES IMPACTING THE E_2

UNCERTAINTIES IMPACTING THE ETHANOL INDUSTRY AND OUR FUTURE OPERATIONS (Details) gal in Millions, $ in Millions	9 Months Ended
	Jun. 30, 2020USD ($)gal
Concentration Risk [Line Items]
Inventory written down | $	$ 2.8
Reduction In Production Rate	20.00%
Sales Revenue, Goods, Net | Ethanol
Concentration Risk [Line Items]
Concentration risk	64.00%
Cost of Goods, Segment | Corn
Concentration Risk [Line Items]
Concentration risk	71.00%
Ethanol
Concentration Risk [Line Items]
Annual production capacity | gal	135

BUSINESS SEGMENTS - Narrative (

BUSINESS SEGMENTS - Narrative (Details)	9 Months Ended
	Jun. 30, 2020segment
Segment Reporting [Abstract]
Number of reportable segments	2
Number of operating segments	2

BUSINESS SEGMENTS - Schedule of

BUSINESS SEGMENTS - Schedule of Business Segments (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2019
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue:	$ 51,252,061	$ 63,665,456	$ 182,267,602	$ 178,171,882
Gross Profit:	1,657,936	1,078,038	424,436	2,181,853
Operating Income (Loss):	67,815	(513,297)	(4,786,786)	(3,086,151)
Grain Inventories:	12,306,809		12,306,809		$ 6,883,632
Total Assets:	133,724,792		133,724,792		137,551,637
Ethanol Division
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue:	45,237,858	54,241,337	158,592,426	157,541,956
Gross Profit:	1,141,810	311,720	(1,055,956)	1,497,603
Operating Income (Loss):	(131,068)	(962,372)	(5,315,449)	(2,818,672)
Grain Inventories:	7,938,452		7,938,452		5,457,534
Total Assets:	117,467,781		117,467,781		124,310,575
Trading Division
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue:	6,014,203	9,424,119	23,675,176	20,629,926
Gross Profit:	516,126	766,318	1,480,392	684,250
Operating Income (Loss):	198,883	$ 449,075	528,663	$ (267,479)
Grain Inventories:	4,368,357		4,368,357		1,426,098
Total Assets:	$ 16,257,011		$ 16,257,011		$ 13,241,062