Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)
Mar. 31, 2012
Dec. 31, 2011
CURRENT ASSETS    
Cash and cash equivalents $ 1,018,289 $ 676,780
Accounts receivable 308 2,279
Inventory 137,249 104,782
Other current assets 377,084 327,701
Total Current Assets 1,532,930 1,111,542
PROPERTY AND EQUIPMENT, NET 13,296,411 11,905,182
INVESTMENT HELD FOR SALE 297,133 291,031
DEFERRED GROWING COST 3,412,206 2,780,871
OTHER NONCURRENT ASSETS 11,457 10,814
TOTAL ASSETS 18,550,137 16,099,440
CURRENT LIABILITIES    
Accounts payable 1,367,583 1,363,217
Accrued payroll and payroll taxes 1,071,312 1,046,763
Deferred revenue   152,732
Capital lease liability - current portion 59,949 56,257
Notes payable to shareholders 26,000 26,000
Convertible notes payable, current portion   193,200
Total Current Liabilities 2,524,844 2,838,169
LONG-TERM LIABILITIES    
Accrued interest payable 1,550,812 1,684,186
Accrued return on noncontrolling interest 3,361,676 2,907,678
Capital lease liability - long term portion 22,925 31,258
Convertible notes payable 567,000 567,000
Mortgage notes payable 5,110,189 5,110,189
Total Long Term Liabilities 10,612,602 10,300,311
EQUITY (DEFICIT)    
Preferred stock - $0.001 par value; 50,000,000 shares authorized Series B, convertible; 13,000 shares issued (aggregate liquidation preference of $1,300,000) 13 13
Common stock, $0.001 par value; 500,000,000 shares authorized; 285,062,812 issued and outstanding 285,062 285,062
Additional paid-in capital 24,277,632 24,260,628
Accumulated deficit (26,303,330) (26,662,294)
Accumulated other comprehensive loss (4,909) (21,996)
Total Global Clean Energy Holdings, Inc. Stockholders' Deficit (1,745,532) (2,138,587)
Noncontrolling interests 7,158,223 5,099,547
Total equity (deficit) 5,412,691 2,960,960
TOTAL LIABILITIES AND EQUITY (DEFICIT) $ 18,550,137 $ 16,099,440