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In fiscal 2009 REX completed its transformation out of retail as we closed our remaining retail locations. We continue working
on monetizing our remaining real estate assets. Recognizing the Company's transition primarily into alternative energy, on June 10, 2010,
we changed the Company's name to:
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as it more closely reflects the Company's focus today. In conjunction with the name change we changed our stock symbol to "REX."
We think these changes will help build awareness and recognition for our company within the investment community, as well as facilitate the
number of relevant investment opportunities that are brought to us.
REX's Ethanol Interests as of October 31, 2011
As summarized in the table below, REX has ownership interests in approximately 219 million gallons of annual nameplate operating ethanol production.
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Alternative Energy/Ethanol Investments
One Earth Energy, LLC
REX has a 74% ownership interest in One Earth Energy, LLC, which has completed construction of, and now operates an
ethanol production facility in Gibson City, Illinois. The facility has a design capacity of 100 million gallons of
ethanol and 320,000 tons of dried distiller grains per year. The plant commenced operation in July, 2009. We consolidate their results into our financial statements.
Big River Resources, LLC
REX has a 10% ownership interest in Big River Resources, LLC, a holding company for the following ethanol production
entities in Iowa and Illinois:
Big River Resources West Burlington, LLC("West Burlington").
West Burlington operates a 100% owned ethanol production facility in West Burlington, Iowa, that has a design
capacity of 92 million gallons of ethanol and approximately 300,000 tons of dried distiller grains per year. The
facility has been in operation since 2004. REX's ownership interest in the plant is 10% via its ownership in the
parent, Big River Resources.
Big River Resources Galva, LLC("Galva").
Big River Resources operates a 100% owned ethanol production facility in Galva, Illinois, that has a design
capacity of 100 million gallons of ethanol and approximately 320,000 tons of dried distiller grains per year. The
facility has been in operation since May 2009. REX's ownership interest in the plant is 10% via its ownership in the
parent, Big River Resources.
Big River United Energy, LLC("Dyersville").
Big River acquired a 50.5% interest in this plant in August, 2009. Dyersville operates an ethanol facility in
Dyersville, Iowa, that has a design capacity of 100 million gallons of ethanol and 320,000 tons of dried distiller
grains per year. REX's ownership in the plant is 5% via its ownership in the parent, Big River Resources.
Patriot Renewable Fuels, LLC
REX has a 23% ownership interest in Patriot Renewable Fuels, LLC. The facility located in Annawan, Illinois has a
design capacity of 100 million gallons of ethanol and 320,000 tons of dried distiller grains per year. The plant commenced
operation in September, 2008.
NuGen Energy, LLC
REX has a 98% ownership interest in NuGen Energy, LLC. We acquired our initial 48% on June 30, 2010 and an additional 50%
on November 1, 2011. The facility has a design capacity of 100 million gallons of ethanol
and 320,000 tons of dried distiller grains per year. The plant initially commenced production in February, 2008. We consolidate
their results into our financial statements, effective November 1, 2011.
Levelland/Hockley County Ethanol, LLC
REX has a 49% ownership interest in Levelland/Hockley County Ethanol, LLC, which has an ethanol production
facility in Hockley County, Texas. The plant has a design capacity of 40 million gallons of ethanol and 130,000 tons of
dried distiller grains per year and began operation in March, 2008. The plant ceased operations January, 2011 and is
currently in Chapter 11 Bankruptcy.
Net Cash and Real Estate Assets
As of October 31, 2011, REX had approximately $67 million of cash at the parent company
as well as legacy retail real estate assets (24 stores & 1 distribution facility) with
an approximate net carrying value of $17 million. The company's intention is to monetize its real estate assets via leases and property
sales, as market conditions allow.
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SEC Link to REX online filings
Corporate Governance
Annual Reports
2010 Proxy
XBRL Files
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