Advanced BioEnergy, LLC

CIK:0001325740|SEC Filings

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Net sales
Net sales	$ 29,491	$ 31,952
Type of Revenue [Extensible List]		ck0001325740:EthanolAndRelatedProductsMember
Cost of goods sold	30,088	$ 34,226
Type of Cost, Good or Service [Extensible List]		ck0001325740:EthanolAndRelatedProductsMember
Gross margin	(597)	$ (2,274)
Selling, general and administrative expenses	1,558	764
Operating loss	(2,155)	(3,038)
Other income		130
Interest income		1
Interest expense	(734)	(201)
Loss from operations	(2,889)	(3,108)
Gain on sale of business	6,114
Net income (loss)	$ 3,225	$ (3,108)
Weighted average units outstanding - basic and diluted	25,411	25,411
Income (loss) per unit - basic and diluted	$ 0.13	$ (0.12)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income (loss)	$ 3,225	$ (3,108)
Adjustments to reconcile net income (loss) to operating activities cash flows:
Depreciation	960	959
Amortization of deferred financing costs	219	24
Amortization of deferred rent	(2)	(2)
Loss of sale of property and equipment	16
Gain on sale of business	(6,114)
Change in working capital components:
Trade accounts receivable	2,775	1,036
Other receivables	(704)	(85)
Inventories	950	(973)
Prepaid expenses	84	(312)
Accounts payable	(2,356)	771
Accrued expenses	(520)	(223)
Other liabilities	25
Net cash used in operating activities	(1,442)	(1,913)
Cash flows from investing activities:
Purchase of property and equipment	(956)	(2,995)
Proceeds from sale of business	44,112
Net cash provided by (used in) investing activities	43,156	(2,995)
Cash flows from financing activities:
Payments on debt	(30,500)	(1,000)
Proceeds from debt	688	900
Net cash used in financing activities	(29,812)	(100)
Net increase (decrease) in cash, cash equivalents and restricted cash	11,902	(5,008)
Beginning cash, cash equivalents and restricted cash	5,423	12,727
Ending cash, cash equivalents and restricted cash	17,325	7,719
Supplemental disclosure of cash flow information:
Cash paid for interest, net of capitalized interest of $80 thousand and $43 thousand in the three months ended December 31, 2019 and December 31, 2018, respectively	$ 448	165
Supplemental disclosure of non-cash financing and investing activities:
Accounts payable and accrued expenses related to fixed assets		$ 468

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Sep. 30, 2019
Current assets:
Cash and cash equivalents	$ 12,575	$ 5,423
Accounts receivable:
Trade accounts receivable	676	3,451
Other receivables	878	174
Inventories		4,871
Prepaid expenses		217
Restricted cash	4,750
Total current assets	18,879	14,136
Property and equipment, net		35,662
Other assets	902	902
Total assets	19,781	50,700
Current liabilities:
Accounts payable	890	3,908
Accrued expenses	1,806	2,326
Current portion of long-term debt (stated principal amount of $0 and $29,812 at December 31, 2019 and September 30, 2019, respectively)		29,593
Total current liabilities	2,696	35,827
Other liabilities	14	1,027
Total liabilities	2,710	36,854
Members' equity:
Members' capital, no par value, 25,410,851 units issued and outstanding	44,826	44,826
Accumulated deficit	(27,755)	(30,980)
Total members' equity	17,071	13,846
Total liabilities and members' equity	$ 19,781	$ 50,700