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 $)
 3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Cash Flows From Operating Activities    
Net Income (Loss) $ 158,914 $ (578,666)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Foreign currency transaction gain   (2,440)
Gain on settlement of liabilities (514,473)  
Share-based compensation 17,004 48,188
Depreciation 68,743 66,241
Changes in operating assets and liabilities:    
Accounts receivable   (11,008)
Inventory (23,010) (424)
Other current assets (37,655) (41,763)
Deferred growing costs (382,771) (493,774)
Accounts payable and accrued expenses 202,837 119,918
Deferred revenue (152,732)  
Net Cash Used in Operating Activities (663,143) (893,728)
Cash Flows From Investing Activities    
Plantation development costs (474,084) (606,558)
Purchase of property and equipment (85,583) (164,900)
Net Cash Used in Investing Activities (559,667) (771,458)
Cash Flows From Financing Activities    
Proceeds from issuance of preferred membership in GCE Mexico I, LLC 1,531,290 2,051,102
Payments on capital leases and notes payable (12,206) (11,448)
Net Cash Provided by Financing Activities 1,519,084 2,039,654
Effect of exchange rate changes on cash 45,235 20,671
Net Increase in Cash and Cash Equivalents 341,509 395,139
Cash and Cash Equivalents at Beginning of Period 676,780 1,096,618
Cash and Cash Equivalents at End of Period 1,018,289 1,491,757
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 2,220 30,624
Noncash Investing and Financing activities:    
Accrual of return on noncontrolling interest $ 453,999 $ 302,135