ࡱ> 4567 l \pThe Free Software Foundation B=PF0*8X@"1 Helvetica1Courier1 Courier New1 Courier New1 Helvetica$#,##0_);($#,##0)$#,##0_);[Red]($#,##0)$#,##0.00_);($#,##0.00)$#,##0.00_);[Red]($#,##0.00)-**_($* #,##0_);_($* (#,##0);_($* "-"_);_(@_)*)'_(* #,##0_);_(* (#,##0);_(* "-"_);_(@_)5,2_($* #,##0.00_);_($* (#,##0.00);_($* "-"??_);_(@_)2+/_(* #,##0.00_);_(* (#,##0.00);_(* "-"??_);_(@_)2$#,##0.00;[Red]$#,##0.003$#,##0.00;[Red]($#,##0.00)4$#,##0;[Red]($#,##00)50.00%;[Red](0.00%)6 0%;[Red](0%)7#,##0.00;[Red](#,##0.00)8#,##0;[Red](#,##0)                + ) , *   Ј ~~ ؈ ~~#؈ ~~"؈ ~~ ؈ ~~8#܈ ~~7#܈ ~~8"܈ ~~4#܈ ~~9"܈ ~~3#܈ ~~4"܈ ~~"؈ ~~9#܈ ~~83ffff̙̙3f3fff3f3f33333f33& Annual Report Pursuant to SectiWAND PRODUCTION CAPACITY"/AND PRODUCTION CAPACITY (1)"LAND PRODUCTION CAPACITY (2)"mgAND PRODUCTION CAPACITY (3)"AND PRODUCTION CAPACITY (4)1 EmployeesMarket InformationWUse of ProceedsعIncome StatementShenandoah PlantSuperior Plant Contractual Obligations&4Item 10 Directors and ExecutiveSummary CompensationDirector Compensation~Beneficial Ownership., EXHIBIT INDEXUEXHIBIT INDEX (1)bShareholders Equity&+{See accompanying notes to the cKShareholders Equity (1)&5See accompanying notes to conso&See accompanying notes to c (1) Income taxes$New Accounting Pronouncements  OTHER ASSETS&PACCOUNTS PAYABLE AND ACCRUED EX!INCOME TAXES (1),INCOME TAXES (2)7INCOME TAXES (3)FLEASE OBLIGATIONSEOBUSINESS COMBINATION& XQUARTERLY FINANCIAL DATA Unaudi l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!AND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } 7} 1      Green Plains Inc. 10-K 02/13/200780Annual Report Pursuant to Section 13 or 15(d) of Iowa  84-16521076 .(State or other jurisdiction of incorporation)) !(IRS Employer Identification No.)  1 )4124 Airport Road, Shenandoah, Iowa 51601 (712) 246.29320 ((Address of principal executive offices)1 )(Registrant?s telephone number, including area code)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|ui]Q9Ez=PF0*8X> @ l  8%I/  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } <(} }  } y }  8     Green Plains Inc. 10-K 02/13/2007AND PRODUCTION CAPACITY    Current Under Construction/    Capacity  Expansions Company Location  Feedstock (mgy) (mgy) Abengoa Bioenergy Corp. York, NE  Corn/milo~     Colwich, KS ~ f  Portales, NM~ z Ravenna, NE~ bAberdeen Energy*Mina, SD Corn~ Absolute Energy, LLC*St. Ansgar, IA Corn~ ACE Ethanol, LLC Stanley, WI Corn~ Adkins Energy, LLC*Lena, IL Corn~ Advanced Bioenergy Fairmont, NE Corn~  AGP* Hastings, NE Corn~ )!Agra Resources Coop. d.b.a. EXOL*Albert Lea, MN Corn~ ~ "Agri-Energy, LLC* Luverne, MN Corn~ VAlchem Ltd. LLLP Grafton, ND Corn%@Al-Corn Clean Fuel* Claremont, MN Corn~ ~ >Amaizing Energy, LLC* Denison, IA Corn~ Archer Daniels Midland Decatur, IA Corn~ ~ NCedar Rapids, IA Corn Clinton, IA Corn Columbus, NE Corn Marshall, MN CornDQ lvj.,}3+qL)b !"#$%&'()*+,-./01234567   Peoria, IL Corn  !! Wallhalla, ND! Corn/barley!!"Arkalon Energy, LLC" Liberal, KS "Corn"~ "!#ASAlliances Biofuels, LLC# Albion, NE #Corn#~ #$$ Linden, IN $Corn$~ $%%Bloomingburg, OH %Corn%~ %&&Aventine Renewable Energy, LLC& Pekin, IL &Corn~ &>&'' Aurora, NE 'Corn''"(Badger State Ethanol, LLC*( Monroe, WI (Corn~ ((!)Big River Resources, LLC*)West Burlington, IA )Corn~ ))*Blue Flint Ethanol* Underwood, ND *Corn*~ *+Bonanza Energy, LLC+Garden City, KS+ Corn/milo+~ + ,Broin Enterprises, Inc.*, Scotland, SD ,Corn~ ,., -Bushmills Ethanol, Inc.*- Atwater, MN -Corn~ --.Cardinal Ethanol.Harrisville, IN .Corn.~ ./ Cargill, Inc./ Blair, ME /Corn~ /V/00 Eddyville, IA 0Corn~ 001 Cascade Grain1Clatskanie, OR 1Corn1~ 1#2CassCo Amaizing Energy, LLC2 Atlantic, IA 2Corn2~ 234$5____________________________16)Created by Morningstar Document Research.07(http://documentresearch.morningstar.com/4t bQLxH*~ =PF0*8X> @776655 l  :A9L  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } a/} 0}  }  } $ :     Green Plains Inc. 10-K 02/13/2007AND PRODUCTION CAPACITY(  Castle Rock Renewable Fuels, LLC  Necedah, WI Corn ~  Center Ethanol Company  Sauget, IL Corn ~ $ Central Indiana Ethanol, LLC  Marion, IN Corn ~ $ Central Illinois Energy, LLC  Canton, IL Corn ~  Central MN Ethanol Coop* Little Falls, MN Corn 5@ !Central Wisconsin Alcohol Plover, WI Seed corn~  Chief Ethanol Hastings, NE Corn~ $Chippewa Valley Ethanol Co.* Benson, MN Corn~ &Commonwealth Agri-Energy, LLC*Hopkinsville, KY Corn~  Corn, LP* Goldfield, IA Corn~ ( Cornhusker Energy Lexington, LLC Lexington, NE Corn~ Corn Plus, LLP* Winnebago. MN Corn~ Coshoctan Ethanol, OH Coshoctan, OH Corn~ Dakota Ethanol, LLC* Wentworth, SD Corn~  DENCO, LLC Morris, MN Corn5@Dexter Ethanol, LLC Dexter, IA Corn~ E Energy Adams, LLC Adams, NE Corn~  E3 BiofuelsMead, NE Corn~ b)!E Caruso (Goodland Energy Center) Goodland, KS Corn~ R%East Kansas Agri-Energy, LLC* Garnett, KS Corn~ #Elkhorn Valley Ethanol, LLC Norfolk, NE Corn~ ESE Alcohol Inc. Leoti, KS Seed corn?Ethanol2000, LLP*Bingham Lake, MN Corn~ D\ lvj._!\,_>,S !"#$%&'()*+,-./0123456789% Ethanol Grain Processors, LLC  Obion, TN Corn ~ (! First United Ethanol, LLC (FUEL)!Mitchell Co., GA !Corn!~ !"Frontier Ethanol, LLC" Gowrie, IA "Corn~ ""#Front Range Energy, LLC# Windsor, CO #Corn~ ##$Gateway Ethanol$ Pratt, KS $Corn$~ $"%Glacial Lakes Energy, LLC*% Watertown, SD %Corn~ %~ %/&'Global Ethanol/Midwest Grain Processors& Lakota, IA &Corn~ &~&''Riga, MI 'Corn'~ ',($Golden Cheese Company of California*( Corona, CA( Cheese whey~ ((!)Golden Grain Energy, LLC*)Mason City, IA )Corn~ )~ )$*Golden Triangle Energy, LLC** Craig, MO *Corn~ *R* +Grand River Distribution+ Cambria, WI +Corn+~ +,Grain Processing Corp., Muscatine, IA ,Corn~ ,R,"-Granite Falls Energy, LLC*-Granite Falls, MN -Corn~ --".Great Plains Ethanol, LLC*.Chancellor, SD .Corn~ ..!/Greater Ohio Ethanol, LLC/Lima, OH /Corn/~ /%0Green Plains Renewable Energy0Shenandoah, IA 0Corn0~ 011 Superior, IA 1Corn1~ 12Hawkeye Renewables, LLC2Iowa Falls, IA 2Corn~ 2233 Fairbank, IA 3Corn~ 3344 Menio, IA 4Corn4~ 456$7____________________________18)Created by Morningstar Document Research.09(http://documentresearch.morningstar.com/8 &a)h1_%p"=PF0*8X> @998877 l  5^f  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } 0.} a} 0} $ 5     Green Plains Inc. 10-K 02/13/2007AND PRODUCTION CAPACITY Heartland Corn Products*  Winthrop, MN Corn~  " Heartland Grain Fuels, LP*  Aberdeen, SD Corn~ &    Huron, SD Corn~ 2~ J! Heron Lake BioEnergy, LLC Heron Lake, MN Corn ~  Holt County Ethanol  O'Neill, NE Corn ~ Horizon Ethanol, LLC Jewell, IA Corn~ Husker Ag, LLC* Plainview, NE Corn:@"Illinois River Energy, LLC Rochelle, IL Corn~ Indiana Bio-Energy Bluffton, IN Corn~ Iowa Ethanol, LLC*Hanlontown, IA Corn~ ( Iroquois Bio-Energy Company, LLCRensselaer, IN Corn~ !James Valley Ethanol, LLC Groton, SD Corn~ KAAPA Ethanol, LLC* Minden, NE Corn~ Kansas Ethanol, LLC Lyons, KS Corn~ Land O' Lakes* Melrose, MN Cheese whey@-%Levelland/Hockley County Ethanol, LLC Levelland, TX Corn~ %Lincolnland Agri-Energy, LLC* Palestine, IL Corn~ Lincolnway Energy, LLC* Nevada, IA Corn~  Liquid Resources of Ohio Medina, OHWaste Beverage~ )!Little Sioux Corn Processors, LP* Marcus, IA Corn~ Marquis Energy, LLC Hennepin, IL Corn~ Marysville Ethanol, LLCMarysville, MI Corn~ Merrick & Company Golden, CO Waste Beer~ Dc lvj.`J ^*f#H !"#$%&'()*+,-./01234 MGP Ingredients, Inc.  Pekin, IL Corn/wheat starch~ : !! Atchison, KS !Corn!!"Michigan Ethanol, LLC"Caro, MI "Corn~ ""+##Mid America Agri Products/Wheatland# Madrid, NE #Corn#~ #"$Mid-Missouri Energy, Inc.*$Malta Bend, MO $Corn~ $$%%Midwest Renewable Energy, LLC%Sutherland, NE %Corn~ %f%&Millennium Ethanol& Marion, SD &Corn&~ &'Minnesota Energy*'Buffalo Lake, MN 'Corn~ 'J'(Missouri Ethanol( Laddonia, MO (Corn~ ((.)&Missouri Valley Renewable Energy, LLC*) Meckling, SD )Corn)~ )* NEDAK Ethanol* Atkinson, NE *Corn*~ *+New Energy Corp.+South Bend, IN +Corn~ ++",North County Ethanol, LLC*, Rosholt, SD ,Corn~ ,R,-Northeast Biofuels- Volney, NY -Corn-~ -&.Northeast Missouri Grain, LLC*. Macon, MO .Corn~ ..%/Northern Lights Ethanol, LLC*/Big Stone City, SD /Corn~ //01$2____________________________13)Created by Morningstar Document Research.04(http://documentresearch.morningstar.com/.GyDT&u=PF0*8X> @443322 l  5x^  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } -} $} a} $ 5     Green Plains Inc. 10-K 02/13/2007AND PRODUCTION CAPACITY Northstar Ethanol, LLC Lake Crystal, MN Corn~   Northwest Renewable, LLC  Longview, WA Corn ~ ! Otter Creek Ethanol, LLC*  Ashton, IA Corn~  ! Otter Tail Ag Enterprises Fergus Falls, MN Corn  L@ Pacific Ethanol  Madera, CA Corn~   Boardman, OR Corn~  Panda Energy Hereford, TX Corn/milo~ 'Panhandle Energies of Dumas, LP Dumas, TXCorn/Grain Sorghum~ zParallel ProductsLouisville, KYBeverage waste@R. Cucamonga, CA$Patriot Renewable Fuels, LLC Annawan, IL Corn~ Penford ProductsCedar Rapids, IA Corn~ Permeate Refining Hopkinton, IASugars & starches?Phoenix Biofuels Goshen, CA Corn~ fPinal Energy, LLC Maricopa, AZ Corn~ 'Pine Lake Corn Processors, LLC*Steamboat Rock, IA Corn~ RPinnacle Ethanol, LLC Corning, IA Corn~  Plainview BioEnergy, LLC Plainview, TX Corn~ Platinum Ethanol, LLC* Athur, IA Corn~ Plymouth Ethanol, LLC* Merrill, IA Corn~ Prairie Ethanol, LLC Loomis, SD Corn~ )!Prairies Horizon Agri-Energy, LLCPhillipsburg, KS Corn~ Premier Ethanol Portland, IN Corn~ DV lvj.`1 QZZ !"#$%&'()*+,-./01234 Pro-Corn, LLC*  Preston, MN Corn~  $!Quad-County Corn Processors*! Galva, IA !Corn~ !n!"Red Trail Energy, LLC"Richardton, ND "Corn~ ""#Redfield Energy, LLC*# Redfield, SD #Corn#~ #$Reeve Agri-Energy$Garden City, KS$ Corn/milo~ $2$% Renew Energy%Jefferson Junction, WI %Corn%~ % *&"Siouxland Energy & Livestock Coop*&Sioux Center, IA &Corn~ &f~ &'Siouxland Ethanol, LLC' Jackson, NE 'Corn'~ '!(Sioux River Ethanol, LLC*( Hudson, SD (Corn~ ((-)%Southwest Iowa Renewable Energy, LLC*)Council Bluffs, IA )Corn)~ )*Sterling Ethanol, LLC* Sterling, CO *Corn~ **+Summit Ethanol+ Leipsic, OH +Corn+~ +,Tall Corn Ethanol, LLC*,Coon Rapids, IA ,Corn~ ,,-Tama Ethanol, LLC-Tama, IA -Corn-~ -. Tate & Lyle. Loudon, TN .Corn~ .~ .// Ft. Dodge, IA /Corn/~ /01$2____________________________13)Created by Morningstar Document Research.04(http://documentresearch.morningstar.com/.>v5m6s=PF0*8X> @443322 l  6  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } 0} } 0}  } U 6     Green Plains Inc. 10-K 02/13/2007AND PRODUCTION CAPACITY(  The Andersons Albion Ethanol LLC  Albion, MI Corn~  * "The Andersons Clymers Ethanol, LLC  Clymers, IN Corn ~ + #The Andersons Marathon Ethanol, LLC Greenville, OH Corn ~ " Trenton Agri Products, LLC  Trenton, NE Corn~   United Ethanol  Milton, WI Corn ~ &United WI Grain Products, LLC* Friesland, WI Corn~ US BioEnergy Corp.Albert City, IA Corn~ ~  Woodbury, MI Corn Hankinson, ND CornOrd, NE CornCentral City, NE CornDyersville, IA Corn0(U.S. Energy Partners, LLC (White Energy) Russell, KSMilo/wheat starch~ Utica Energy, LLC Oshkosh, WI Corn~ "VeraSun Energy Corporation Aurora, SD Corn~ ~ * Ft. Dodge, IA CornCharles City, IA Corn Welcome, MN Corn Hartley, Ia CornVoyager Ethanol, LLC*Emmetsburg, IA Corn~ %Western New York Energy, LLC* Shelby, NY Corn~ #Western Plains Energy, LLC* Campus, KS Corn~ 0(Western Wisconsin Renewable Energy, LLC*Boycewille, WI Corn~ D lvj.SyMmM:T !"#$%&'()*+,-./012345  White Energy  Hereford, TX  Corn/milo ~ !Wind Gap Farms! Baconton, GA! Brewery waste!?!"""""# Renova Energy#Torrington, WY #Corn~ ##$Xethanol BioFuels, LLC$Blairstown, IA $Corn~ $~ $% Yuma Ethanol%Yuma, CO %Corn%~ %&&&&&!'Total Current Capacity at''''!(113 ethanol biorefineries(((fffffϵ@())))) *Total Under Construction****+(77)/Expansions (7)++++1@,,,,,-Total Capacity---3333s@-...../* locally-owned////!0Updated: February 8, 2007000012$3____________________________14)Created by Morningstar Document Research.05(http://documentresearch.morningstar.com/087PeHh=PF0*8X> @554433 l  U  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4)Market InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } %}       Green Plains Inc. 10-K 02/13/2007 Employees Position  Number of   Employees$ General Manager/Site Manager~   Plant Manager~  Production Manager~ Commodities Manager~ $Controller /Plant Accountant~  Lab Manager~ Lab Technician~  'Environmental/Safety Specialist~ Secretary/Clerical~ Shift Supervisors~ Maintenance Supervisor~ Maintenance Craftsmen~ Plant Operators~ 2Total Employees~ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/@eDx`7`*xM\=PF0*8X> @ l  Я  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } } I      Green Plains Inc. 10-K 02/13/2007Market Information Fiscal year ended 2006 High Low Quarter ended:   May 31?????????????... $ 63.50 $ 21.60 August 31????????????... $ 39.84 $ 25.60 November 30???????????. $ 28.25 $ 16.63$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*(h{oK F=PF0*8X> @ l  ?  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } !} $ }       Green Plains Inc. 10-K 02/13/2007Use of Proceeds# Recoverable rail line costs~   Real property ~ ) Land improvements ~  s Construction-in-progress ~ *% Debt issuance fees ~ ~. Total~ ;$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|~rNq9=PF0*8X> @*  l  %  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } $4} $ } y} $ }  } $ }  %     Green Plains Inc. 10-K 02/13/2007Income Statement  November 30, 2006 November 30, 20051 )June 29, 2004 (Inception) to November 30,     ~ R   (Audited)  (Audited)  (Audited)% Statement of Operations Data:       Revenues?????????.~ ~ ~  Operating expenses?????.~ *I~ *,~ "Loss from operations????..~ ڶ|~ z~ $ Other income???????...~ 8~ B@~ 3+Income (loss) before income taxes??????????~ bK~ ~ Income taxes???????...~ ~ ~ Net income (loss)??????~  8~ ~ )!Earnings (loss) per common share:' Basic????????...RQ?zGڿ{Gz& Diluted????????RQ?zGڿ{GzBalance Sheet Data:%Cash and cash equivalents??..~ BE ~ a~ 6&Securities?????????~ ~ ~ Current assets???????.~ ꉉ ~ Ҡ~ e&Total assets????????.~ R~ *B~ e&!Current liabilities??????~ BT~ 6k ~ Z Total liabilities???????~ i~ 6k ~ Z#Stockholders? equity????...~ үz~ j8~  &D l}qX Tnsb,r& !"#$ !$"____________________________1#)Created by Morningstar Document Research.0$(http://documentresearch.morningstar.com/ P=PF0*8X> @$$##""           l  %  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } 1} $ }  %     Green Plains Inc. 10-K 02/13/2007Shenandoah Plant  # Estimated Sources of Funds:  . &Share/Warrant Proceeds (less fees plus~  ∻  interest)/ 'Zero Interest Loan and Grant from State ~ jof Iowa Seed Capital~ )Term Debt Financing~ 4 ( Total Estimated Sources of Funds~  1 Estimated Uses of Funds:$Estimated Plant Construction~  zFEstimated Site Costs~ Bl Estimated Railroad Costs~ b.C.&Estimated Fire Protection/Water Supply~ Bn Costs%Estimated Rolling Stock Costs~ 1)Estimated Financing Costs and Capitalized~ ZInterest-%Estimated Pre-Production Period Costs~ 0-%Estimated Inventory & Working Capital~  Costs%Total Estimated Uses of Funds~  1Dl}qM5TAx<B1@ !"#$ !$"____________________________1#)Created by Morningstar Document Research.0$(http://documentresearch.morningstar.com/ P=PF0*8X> @:$$##""  l  !  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } 1} $ }  !     Green Plains Inc. 10-K 02/13/2007Superior Plant  # Estimated Sources of Funds:   Common Share Proceeds~   ) !Term and Revolving Debt Financing ~ jM (  Total Estimated Sources of Funds~  E Estimated Uses of Funds:$Estimated Plant Construction~  JvEstimated Site Costs~ - Estimated Railroad Costs~ Bm.&Estimated Fire Protection/Water Supply~ w Costs%Estimated Rolling Stock Costs~ \1)Estimated Financing Costs and Capitalized~ dInterest-%Estimated Pre-Production Period Costs~ 0-%Estimated Inventory, Working Capital,~ J Other Costs%Total Estimated Uses of Funds~  E$____________________________1)Created by Morningstar Document Research.DlsO7H$x:K7SG; 0 (http://documentresearch.morningstar.com/H=PF0*8X> @:    l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior Plant!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } %} } } }  }       Green Plains Inc. 10-K 02/13/2007Contractual Obligations   Payments Due by Period Contractual Obligations Total Less Than 1 Year  1-3 Years  3-5 Years  Thereafter% Long-Term Debt Obligations(1)  $ 290,000 $ 60,000  $ 120,000  $ 110,000~ ! Capital Lease Obligations~ ~ ~ ~ ~ ' Operating Lease Obligations (2)~ t~ z~ B~ ~  Purchase Obligations (3)~ ~ ž~ Zb~ ~ #Other Long-Term Liabilities~ ~ ~ ~ ~  Total~  ~ Í~ Bm $ 110,000~ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0vj"Xc}=PF0*8X> @"  l  #  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual ObligationsSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } $} } -} $      Green Plains Inc. 10-K 02/13/2007C;Item 10. Directors and Executive Officers of the Registrant Name Age Position With the Company Since Barry A. Ellsworth~   President/CEO~ R Dan E. Christensen~ - %Exec. VP/Treasurer/Secretary/Director~ R Brian L. Larson~  CFO~ Z Brian D. Peterson~  Exec. VP/Director~ RDavid A. Hart (1)(2)(3)~ Director~ R&R. Stephen Nicholson (1)(2)(3)~ BDirector~ RRobert D. Vavra (1)~ Chairman~ RWayne B. Hoovestol~  COO/Director~ V!Herschel C. Patton (2)(3)~ Director~ RMichael A. Warren~ Director~ Z$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6&j^RFngkwk_7=PF0*8X> @ l  W  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } } }  }  } }  } y }  } <                          Green Plains Inc. 10-K 02/13/2007Summary Compensation    Long Term Compensation    Annual Compensation Awards Payouts  Name and Year  Salary ($)  Bonus ($)  Other Annual  Restricted Stock LTIP  All Other Principal Position    Compensation($) (2) Stock Options/  Payouts($)  Compensation      Awards SAR(#)  ($) (1)~  Barry A. Ellsworth~ R -- -- -- -- -- --~  I!President, CEO & Director~ V -- -- -- -- -- -- --~ Z~   --~   -- -- -- --$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4}ymGa =PF0*8X> @2    l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } } I"} }       Green Plains Inc. 10-K 02/13/2007Director Compensation Director$ Board/Committee Meeting Fees Committee Chairman/ Additional Services Total   Secretary Fees Barry A. Ellsworth $ 24,000 $ - $ - $ 24,000 Brian D. Peterson~ w~ ~ b ~ b Robert D. Vavra~ w~ a~ b ~  Dan E. Christensen~ w~ ~ "~  David A. Hart~ w~ '~ 3~ Herschel C. Patton~ w~ '~ '~ R. Stephen Nicholson~ w~ "N~ ~ "Wayne B. Hoovestol~ w~ ~ b ~ bMichael A. Warren~ ~ ~ ~ Prior directors~ H~ ~ ~ H Total $ 196,650$ 16,250$ 42,595 $ 255,495$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:xl0sgjgq=PF0*8X> @ l  +  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector Compensation EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } $4} I"} }  '      Green Plains Inc. 10-K 02/13/2007Beneficial Ownership Name and Address$ Shares Beneficially Owned(2) Percentage of Total Position of Beneficial Owner(1) Barry A. Ellsworth (3)~ N 6.9%  President/CEO Dan E. Christensen~ 5  3.3%(  VP/Treasurer/Secretary/ Director Brian L. Larson (4)~ B * CFODavid A. Hart (5)~ ; *Director R. Stephen Nicholson (6)~ 2W 1.5%DirectorRobert D. Vavra (7)~ 0 *Director/ChairmanHerschel C. Patton (8)~ rA *DirectorBrian D. Peterson (9)~ r  3.5%DirectorWayne B. Hoovestol (10)~ B' 10.7% COO/DirectorMichael A. Warren~  *Director3+Executive Officers and Directors as a Group~ ne 26.9% (10 persons)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>A0ym=KNPWl=PF0*8X> @ l  e:SG?  1 )2006, by and between the Company and Farm!!6!.Credit Services of America, FLCA (Incorporated""5"-by reference to Exhibit 10.1 of the Company?s##2#*Current Report on Form 8-K, dated February$$$6, 2006)%%$@.%&Construction and Term Loan Supplement,&&2&*dated January 30, 2006, by and between the''4',Company and Farm Credit Services of America,((2(*FLCA (Incorporated by reference to Exhibit))/)'10.2 of the Company?s Current Report on**)*!Form 8-K, dated February 6, 2006)++%@8+0Construction and Revolving Term Loan Supplement,,,2,*dated January 30, 2006, by and between the--4-,Company and Farm Credit Services of America,..2.*FLCA (Incorporated by reference to Exhibit////'10.3 of the Company?s Current Report on00)0!Form 8-K, dated February 6, 2006)11333333%@-1%Security Agreement, dated January 30,2212)2006, by and between the Company and Farm3363.Credit Services of America, FLCA (Incorporated4454-by reference to Exhibit 10.4 of the Company?s5525*Current Report on Form 8-K, dated February6666, 2006)77ffffff%@.7&Administrative Agency Agreement, dated8858-January 30, 2006, by and between the Company,9919)Farm Credit Services of America, FLCA and::.:&CoBank, ACB (Incorporated by reference;;0;(to Exhibit 10.5 of the Company?s Current<<3<+Report on Form 8-K, dated February 6, 2006)==%@5=-Real Estate Mortgage and Financing Statement,>>4>,dated January 30, by and between the Company??1?)and Farm Credit Services of America, FLCAD laFZp"9Xg;Mh@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_@@-@%(Incorporated by reference to ExhibitAA/A'10.14 of the Company?s Annual Report onBB+B#Form 10-K, dated November 30, 2005)CC%@.C&Lump Sum Design Build Agreement, datedDD4D,January 13, 2006, by and between the CompanyEE2E*and Fagen, Inc. (Incorporated by referenceFF0F(to Exhibit 10.15 of the Company?s AnnualGG1G)Report on Form 10-K/A, dated November 30,HH~ H"VII333333$@.I&Allowance Contract, by and between theJJ/J'Company and BNSF Railway Company, datedKK3K+January 26, 2006 (Incorporated by referenceLL0L(to Exhibit 10.14 of the Company?s AnnualMM/M'Report on Form 10-K, dated November 30,NN~ N"VOOQ8$@0O(Share Exchange Agreement, dated FebruaryPP0P(22, 2006, by and between the Company andQQ4Q,the parties identified therein (IncorporatedRR6R.by reference to Exhibit 10.14 of the Company?sSS2S*Annual Report on Form 10-K, dated NovemberTTT 30, 2005)UU= ףp=$@/U'Design Build Agreement, dated August 1,VV1V)2006, by and between the Company and AgraWW3W+Industries, Inc. (Incorporated by referenceXX3X+to Exhibit 10.12 of the Company?s QuarterlyYY3Y+Report on Form 10-Q, dated August 31, 2006)ZZ(\B$@-Z%Employment Agreement, dated September[[0[(29, 2006, by and between the Company and\\2\*Brian L. Larson (Incorporated by reference]]3]+to Exhibit 10.13 of the Company?s Quarterly^^4^,Report on Form 10-Q, dated August 31, 2006).___D ll%7x(B3Cx) @"ddccbb  l  !a)b  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXShareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } } 7 !     Green Plains Inc. 10-K 02/13/2007 EXHIBIT INDEX  EXHIBIT NO. DESCRIPTION OF EXHIBIT 5@. &Schedule of Subsidiaries (Incorporated 5 -by reference to Exhibit 21.1 of the Company?s 2 *Annual Report on Form 10-K, dated November   30, 2005)?@1)Certification by Barry A. Ellsworth under0(Section 302 of the Sarbanes-Oxley Act of~ J333333?@.&Certification by Brian L. Larson under0(Section 302 of the Sarbanes-Oxley Act of~ J @@4,Certification of Barry A. Ellsworth pursuant6.to 18 U.S.C. Section 1350, as adopted pursuant0(to Section 906 of the Sarbanes-Oxley Actof 2002.@@1)Certification of Brian L. Larson pursuant6.to 18 U.S.C. Section 1350, as adopted pursuant0(to Section 906 of the Sarbanes-Oxley Actof 2002.$____________________________1)Created by Morningstar Document Research.Dlt\#X7Rh({; 0 (http://documentresearch.morningstar.com/H=PF0*8X> @  l  81px  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } $ } -} $ 8     Green Plains Inc. 10-K 02/13/2007Shareholders' Equity+ !#GREEN PLAINS RENEWABLE ENERGY, INC.% !(A DEVELOPMENT STAGE COMPANY)$  CONSOLIDATED BALANCE SHEETS       ASSETS November 30, November 30,~ Z~ VCurrent Assets!Cash and cash equivalents $ 43,088,464 $ 5,794,936 Securities~ ~ Interest receivable~ 4 ~ %Prepaid expenses and deposits~ " ~ ( Derivative financial instruments~ H~ Total current assets~ ꉉ ~ Ҡ#Property and equipment, net~ 9 ~ z0 Other assets~ ~ ~ . Total assets $ 96,006,932 $ 34,649,482,$LIABILITIES AND STOCKHOLDERS' EQUITYDlym]E1[w4@ !"#$%&'()*+,-./01234567 Current liabilities  !-!%Accounts payable and accrued expenses! $ 9,720,752! $ 170,701","$Current maturities of long term debt~ "~ "##!#Total current liabilities~ #BT~ #6k $$$$$.%&Long-term debt less current maturities~ %B$~ %&&&&&%'Commitments and contingencies''((((()Stockholders? Equity))*1*)Common stock; $.001 par value, 25,000,000**++shares authorized,,,-,%6,002,736 and 4,215,990 shares issued~ ,]~ ,A--$-and outstanding respectively.".Additional paid-in capital~ .z]~ .*}S/&/Accumulated earnings (deficit)~ /~ /00"0Total stockholders' equity~ 0үz~ 0j81111122*Total liabilities and stockholders' equity2 $ 96,006,9322 $ 34,649,48234$5____________________________16)Created by Morningstar Document Research.07(http://documentresearch.morningstar.com/4`s%l4L lpdX0=PF0*8X> @"D7766552222220000//////......,,,,++**))''%%%%%%####""""""!!!!!!     l  4͋  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders EquityShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } $ } y} $ 4     Green Plains Inc. 10-K 02/13/2007G?See accompanying notes to the consolidated financial statements     + !#GREEN PLAINS RENEWABLE ENERGY, INC.% !(A DEVELOPMENT STAGE COMPANY). & CONSOLIDATED STATEMENTS OF OPERATIONS     "For the Fiscal Years EndedFor the Period For the Period November 30,From Inception on From Inception on June 29, 2004  June 29, 2004Through Through November 30,  November 30,~ Z~ V~ R~  Z Revenues $ - $ - $ -  $ - Operating expenses~ *I~ *,~ ~  V Loss from operations~ ڶ|~ x~ ~  M  Other income 0(Gain on derivative financial instruments~ 2a~ ~ ~  2aInterest income~ _m~ B@~ ~   Other income~ *~ ~ ~  *D lfZNB_6VNP,j Fn !"#$%&'()*+,-./0123        )!!Income (loss) before income taxes!~ !bK~ !~ !~ ! d"""""""" $#Income tax expense (benefit)#~ #~ #~ #~ # $$$$$$$$ %Net income (loss)%% $ 918,120% $ (397,754)% $ (49,995)%  $ 470,371&&&&&&&& )'!Earnings (loss) per common share:''( Basic(($ 0.19($ (0.42)($ (0.08)( ) Diluted))$ 0.19)$ (0.42))$ (0.08)) ****** * +Weighted average common,shares outstanding -- Basic-~ -ʹ)~ -9~ -%- . Diluted.~ .Y+~ .9~ .%. /0$1____________________________12)Created by Morningstar Document Research.03(http://documentresearch.morningstar.com/,}|/c#t r|=PF0*8X> @JI332211...... ------ ,,++)))))) (((((( ''%%%%%% %% ###### ## !!!!!! !!                             l  =b  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the c!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } I;}  } $ } I } $ } a} $ } } $ }  =                                 Green Plains Inc. 10-K 02/13/2007Shareholders' Equity + #GREEN PLAINS RENEWABLE ENERGY, INC.&  (A DEVELOPMENT STAGE COMPANY)2 * CONSOLIDATED STATEMENTS OF STOCKHOLDERS' !EQUITY5 !-FOR THE PERIOD FROM JUNE 29, 2004 (INCEPTION)!!THROUGH NOVEMBER 30, 2006 Common StockAdditional Paid-inAccumulated Earnings/ Total Stockholders'SharesAmountCapital (Deficit) Equity,$Balance at June 29, 2004 (Inception)~  $ - $ - $ -  $ -0(Issuance of common stock to the founders 7/ of the Company for cash at $0.25 per share~ j~ B~ B~ ~  0(Issuance of common stock for services at  $0.25 per share~ ' ~ Z~ G~ ~  I0(Issuance of common stock to directors of  the0( Company for cash at $2.50 per share~ t~ &~ n" ~ ~  # 2*Issuance of common stock for cash at $2.50 7/ per share, net of offering costs of $1,712~ ª~ :~ ~ ~  "*"Net loss for the fiscal year ended  November 30, 2004~ ~ ~ ~ ~  $Balance at November 30, 2004~ ". $ 765 $ 672,523 $ (49,995)  $ 623,2930(Issuance of common stock for services at D<lymfTD`y ~3 ! " # $ % & ' ( ) * + , - . / 0 1 2 3 4 5 6 7 8 9 : ; <   $10.00 per share~ "N ~  ~ .  ~  ~ B 3!+Issuance of common stock for cash at $10.00!!!!!!!!! 9"1 per share, net of offering costs of $256,658~ "S"~ "5"~ "c'"~ ""~ " '*#"Net loss for the fiscal year ended######### $ November 30, 2005~ $$~ $$~ $$~ $$~ $ $%Balance at November 30, 2005~ %R%%$ 4,216%% $ 34,922,314%% $ (447,749)%%  $ 34,478,7810&(Issuance of common stock for services at&&&&&&&&& ' $10.00 per share~ '"N' '$ 5''$ 49,995' '$ -'' $ 50,0000((Issuance of common stock for acquisition(((((((((  )at* $10.00 per share~ **~ **~ *r=*~ **~ *  =3++Issuance of common stock for land at $43.90+++++++++ , per share~ ,R,~ ,.,~ ,4,~ ,,~ , 40-(Issuance of common stock for services at--------- . $37.30 per share~ .'.~ ..~ ..~ ..~ .  0/(Issuance of common stock for exercise of///////// 00( warrants for cash at $30 per share,000000000 1 plus fees of $810~ 1*1~ 11~ 1r}1~ 11~ 1 },2$Issuance of common stock for cash at222222222 /3' $30.00 per share , net of offering333333333  4 costs of $1,173,671~ 4a4~ 44~ 4* 4~ 44~ 4 -* ,5$Net income for the fiscal year ended555555555 6 November 30,2006~ 66~ 66~ 66~ 6 86~ 6  8$7Balance at November 30, 2006~ 7`n77$ 6,00377 $ 85,419,80677 $ 470,37177  $ 85,896,18089$:____________________________1;)Created by Morningstar Document Research.0<(http://documentresearch.morningstar.com/>^0iy!<.d-UMwO=PF0*8X> @R << ;; ::  l  @c  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } $4} $ } m}  $ @                                 Green Plains Inc. 10-K 02/13/2007C;See accompanying notes to consolidated financial statements + #GREEN PLAINS RENEWABLE ENERGY, INC.&  (A DEVELOPMENT STAGE COMPANY)/ ' CONSOLIDATED STATEMENTS OF CASH FLOWS " For the Fiscal Years Ended For the For the    November 30,  Period From  Period From Inception on Inception on June 29, 2004 June 29, 2004ThroughThrough November 30, November 30,~ Z~ V~ R~ Z-%Cash flows from operating activities:Net income (loss) $ 918,120 $ (397,754) $ (49,995) $ 470,3712*Adjustments to reconcile net income (loss) to.&net cash used by operating activities: Stock based compensation~ J~ B ~ I~ zh Depreciation~ F~ v~ ~ 20(Unrealized gains on derivative financial~ &~ ~ ~ & instrumentsDeferred income taxes~ ¡~ ~ ¡4,Changes in operating assets and liabilities:Interest receivable~ ~ ~ ~ %Prepaid expenses and deposits~ ~ ~ ~ Da lj^RFuB,p5'i? ! " # $ % & ' ( ) * + , - . / 0 1 2 3 4 5 6 7 8 9 : ; < = > ? (  Derivative financial instruments~ ~ ~ ~ -!%Accounts payable and accrued expenses~ !V~&~ !~ !Z~ !,8"0Net cash provided (used) by operating activities~ ""~ "~ "f~ "#####-$%Cash flows from investing activities:$$$$*%"Purchase of property and equipment~ %*G~ %~ %~ %&Purchase of securities~ &~ &O~ &~ &O 'Purchase of land options~ 'Ґ~ '~ '"~ 'a/('Payment for recoverable rail line costs~ (`*(~ (~ (`*2)*Cash acquired in acquisition of subsidiary~ ) ~ )~ )~ ) *Sale of securities~ *~ *~ *~ *-+%Net cash used by investing activities~ +6-~ +"~ +"~ +2P,,,,,--%Cash flows from financing activities:----..&Proceeds from issuance of common stock~ .>? ~ .'~ .2&~ .//'Proceeds from the issuance of long-term~ /j~ /~ /~ /j 0debt.1&Payment of principal on long-term debt~ 1c~ 1~ 1~ 1c22*Payment of loan fees and equity in lenders~ 2B~ 2~ 2~ 2B13)Net cash provided by financing activities~ 3O ~ 3'~ 32&~ 3b44444*5"Net change in cash and equivalents~ 5b7~ 5ք~ 56&~ 5BE 36+Cash and equivalents at beginning of period~ 6a~ 66&~ 6~ 6-7%Cash and equivalents at end of period7 $ 43,088,464~ 7a7 $ 626,0937 $ 43,088,46488888#9Continued on following page9999:::::;<$=____________________________1>)Created by Morningstar Document Research.0?(http://documentresearch.morningstar.com/D l3"b/p4imE9-=PF0*8X> @z?? >> == 77777777 66666666 55555555 33333333 22222222 11111111 //////// ........ ++++++++ ******** )))))))) (((((( '''''''' &&&&&&&& %%%%%%%% """""""" !!!!!!!!                     l  -$X  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } aH}  }  } }   -     Green Plains Inc. 10-K 02/13/2007C;See accompanying notes to consolidated financial statements(  Continued from the previous page         . &Supplemental disclosures of cash flow:    " Cash paid for income taxes $ - $ - $ - $ - Cash paid for interest $ - $ - $ - $ -4,Non-Cash investing and financing Activities:.&Common stock issued for acquisition of subsidiary : Cash $ 210,291 $ - $ - $ 210,291 Land options~ r~ ~ ~ rSite development costs~ ƅ/~ ~ ~ ƅ/1)Total common stock issued for acquisition $ 1,000,000 $ - $ - $ 1,000,000 of subsidiary( Land for Superior Ethanol Plant:0(Common stock issued for purchase of land $ 478,510 $ - $ - $ 478,510.&Purchase accounting costs allocated to~ R~ ~ ~ R.&site development costs above allocatedto land purchase-%Purchase accounting cost allocated to~ B~ ~ ~ B0(purchase of land options above allocatedto purchase of landD_ lj^RF rP bECm+t !"#$%&'()*+,- %Total land for Superior Ethanol Plant  $ 821,500 $ - $ -  $ 821,500!!!!?"7Accrued land improvements and construction-in-progress:""""#Land improvements-accruals#$ 36,854 #$ - #$ -#$ 36,854#$Land improvements-retainage~ $~ $~ $~ $)%!Construction-in-progress-accruals~ %C~ %~ %~ %C*&"Construction-in-progress-retainage~ &f~ &~ &~ &fD'<Total accrued land improvements and construction-in-progress' $ 8,967,722'$ 64,750 '$ -' $ 8,967,722()$*____________________________1+)Created by Morningstar Document Research.0,(http://documentresearch.morningstar.com/W%Z=PF0*8X> @,,++** l   G  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1)New Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } 2}  }  }       Green Plains Inc. 10-K 02/13/2007 Income taxes ~ Z~ V~ R  Numerator:    Net income (loss)  $ 918,120  $ (397,754)  $ (49,995)      Denominator:   1)Denominator for basic earnings per share-~ ʹ)~ 9~ %+#weighted-average shares outstanding&Effect of dilutive securities:Warrants from IPO~ ~ ~ ,$Warrants from second public offering~ ~ ~ 2*Denominator for diluted earnings per share~ Y+~ 9~ %,$? weighted-average share outstandingand assumed conversions)!Earnings (loss) per common share: Basic$ 0.19$ (0.42)$ (0.08)Diluted$ 0.19$ (0.42)$ (0.08)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/DluEvF |.]z)yQ=PF0*8X> @ l  T   dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxes OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } 8} <}       Green Plains Inc. 10-K 02/13/2007%New Accounting Pronouncements ~ Z~ V Land and improvements  $ 3,521,013  $ 684,461 Construction-in-progress~ ] ~ R' Computer equipment and software~  ~ R& Office furniture and equipment~ ~ 3Leasehold improvements~ z~ Vehicles~  ~ ~ : ~  07/Less: accumulated depreciation and amortization~ J~  $ 47,081,787 $ 786,846$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4|pd@Dh=PF0*8X> @ l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } 2}  }       Green Plains Inc. 10-K 02/13/2007 OTHER ASSETS ~ Z~ V# Recoverable rail line costs  $ 3,500,000 $ -/ 'Site development costs from acquisition~ 2~  Debt issuance costs~ 2*~  Land option agreements~ B~ .2*Equity in lenders related to debt issuance~ B~ Deferred income taxes~ ^~  $ 4,728,671$ 3,000$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0uQ)ROC7=PF0*8X> @ l     dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETSINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } $4} y}       Green Plains Inc. 10-K 02/13/2007-%ACCOUNTS PAYABLE AND ACCRUED EXPENSES ~ Z~ V! Accrued land improvements $ 36,854 $ 0+ #Accrued land improvements retainage~ ~ (  Accrued construction-in-progress~ C~ 3 +Accrued construction- in-progress retainage~ f~ Accrued income taxes~ D~ Accrued operating costs~ ڱ~ ~wDeferred income tax~ B~  $ 9,720,752 $ 170,701$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2th\8}5g,=PF0*8X> @ l  N,  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } I"}  }  }       Green Plains Inc. 10-K 02/13/2007 INCOME TAXES ~ Z~ V~ R Current:    Federal  $ 426,300  $ (133,300)  $ (17,000) State~ B~ r~   Total current~ 2~ d~  Deferred:Federal~ ~ "~   State~ W~ x~ r0Total deferred~ *~ b ~ :$Income tax expense (benefit) $ 326,000 $ - $ -$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8]uEG^#TH<=PF0*8X> @ l  7  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } 8}  }  }       Green Plains Inc. 10-K 02/13/2007 INCOME TAXES ~ Z~ V~ R7 /Tax expense (benefit) at U.S. Federal statutory  $ 423,000  $ (135,200)  $ (17,000) rate3 +State tax expense (benefit), net of Federal~ ~ 2~   tax effect!Impact of permanent items~ <~ #~ Valuation adjustment~ *~ b ~ :$Income tax expense (benefit) $ 326,000 $ - $ -$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0JuE! r =PF0*8X> @ l   vE  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)LEASE OBLIGATIONSBUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } 0}  } y}       Green Plains Inc. 10-K 02/13/2007 INCOME TAXES ~ Z~ V~ R Deferred tax assets:     Non-Current:     Equity for services $ 55,200 $ 35,200 $ 15,100) !Net operating loss carry-forwards~ ~ "~ "N-%Total non-current deferred tax assets~ ^~ " ~ :!Less: valuation allowance~ ~ %~ Net deferred tax assets~ ^~ ~ !Deferred tax liabilities:Current:0( Unrealized gain on derivative financial~ "~ ~  instruments#Other temporary differences~ "5~ ~ .&Total current deferred tax liabilities~ B~ ~ !Less: valuation allowance~ ~ R~ $Net deferred tax liabilities~ B~ ~ Deferred income taxes$ 38,800 $ - $ -$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/D luE21k3mp=PF0*8X> @ l  N  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)BUSINESS COMBINATION!QUARTERLY FINANCIAL DATA UnaudiU } $} y      Green Plains Inc. 10-K 02/13/2007LEASE OBLIGATIONS& Fiscal Year Ended November 30: Amount~ "^ $ 57,012~ "b~ ^~ "f~ ~ "j~ ~ "n~  Thereafter~ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.|pXaUI!=PF0*8X> @ l  W  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONS!QUARTERLY FINANCIAL DATA UnaudiU } !}        Green Plains Inc. 10-K 02/13/2007BUSINESS COMBINATION Assets Value  Cash  $ 210,291  Land Options~ r#  Site development costs~ ƅ/   $ 1,000,000$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*hymU2ymE=PF0*8X> @ l   g  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!!Annual Report Pursuant to SectiAND PRODUCTION CAPACITYAND PRODUCTION CAPACITY (1)AND PRODUCTION CAPACITY (2)AND PRODUCTION CAPACITY (3)AND PRODUCTION CAPACITY (4) EmployeesMarket InformationUse of ProceedsIncome StatementShenandoah PlantSuperior PlantContractual Obligations!Item 10 Directors and ExecutiveSummary CompensationDirector CompensationBeneficial Ownership EXHIBIT INDEXEXHIBIT INDEX (1)Shareholders Equity!See accompanying notes to the cShareholders Equity (1)!See accompanying notes to conso!See accompanying notes to c (1) Income taxesNew Accounting Pronouncements OTHER ASSETS!ACCOUNTS PAYABLE AND ACCRUED EXINCOME TAXES (1)INCOME TAXES (2)INCOME TAXES (3)LEASE OBLIGATIONSBUSINESS COMBINATIONU } %}        Green Plains Inc. 10-K 02/13/2007,$QUARTERLY FINANCIAL DATA (Unaudited)   1st Quarter  2nd Quarter  3rd Quarter  4th Quarter' For the fiscal year ended 2006,     Revenue $ - $ - $ - $ - Operating income (loss)~ vq~ >9~ v~   Other income~ ^G~ ~"~ !~ & Income taxes~ ~ ~ ~ Net income (loss)~ Ҹ~ V~ zX~ A3 Basic earnings per share~ Q?{GzQ?"Diluted earnings per share~ {Gz?{GzQ?'For the fiscal year ended 2005,Revenue $ - $ - $ - $ -Operating income (loss)~ >~ ~ ~l~  Other income~ ~ ~ ~ " Income taxes~ ~ ~ ~ Net Income (loss)~ 6Q~ r~ s~ j  Basic earnings per shareQ333333ӿ(\ҿQ?"Diluted earnings per shareQ333333ӿ(\ҿQ?$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/DL lui]!^dWV\ K=PF0*8X> @ Root Entry FBook  g  !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123