Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash Flows From Operating Activities    
Net Loss $ (1,976,465) $ (1,537,036)
Adjustments to reconcile net loss to net cash used in operating activities:    
Foreign currency transaction gain 960 (39,613)
Gain on settlement of liabilities (595,290)   
Share-based compensation 39,204 69,858
Write down of impaired assets 526,953   
Depreciation 211,915 201,419
Changes in operating assets and liabilities:    
Accounts receivable (2,925) (23,490)
Inventory 109,808 (55,781)
Other current assets (52,942) (352,003)
Deferred growing costs (1,257,539) (1,459,705)
Accounts payable and accrued expenses 795,655 501,093
Deferred revenue (89,197) 208,329
Other noncurrent assets (11,849) 9,497
Net Cash Used in Operating Activities (2,301,712) (2,477,432)
Cash Flows From Investing Activities    
Purchase of land    (178,459)
Plantation development costs (1,902,838) (2,127,735)
Purchase of property and equipment (256,455) (221,258)
Disposal of property and equipment (1,637)   
Net Cash Used in Investing Activities (2,160,930) (2,527,452)
Cash Flows From Financing Activities    
Proceeds from issuance of common stock 250,000 500,000
Proceeds from exercise of warrants    56,700
Proceeds from issuance of preferred membership in GCE Mexico I, LLC 4,420,360 4,780,156
Proceeds from notes payable    562,685
Payments on capital leases and notes payable (36,723) (34,505)
Net Cash Provided by Financing Activities 4,633,637 5,865,036
Effect of exchange rate changes on cash 21,645 (212,781)
Net Increase in Cash and Cash Equivalents 192,640 647,371
Cash and Cash Equivalents at Beginning of Period 676,780 1,096,618
Cash and Cash Equivalents at End of Period 869,420 1,743,989
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 30,764 56,755
Noncash Investing and Financing activities:    
Accrual of return on noncontrolling interest $ 1,487,084 $ 1,044,264
Shares issued for services    13,125