we intend to continue to take a disciplined approach in evaluating new opportunities related to potential acquisition of additional ethanol plants by considering whether the plants fit within the design , engineering and geographic criteria we have developed . in our marketing and distribution segment , our strategy is to renew existing marketing contracts , as well as enter new contracts with other ethanol producers . we also intend to pursue opportunities to develop or acquire additional grain elevators and agronomy businesses , specifically those located near our ethanol plants . we believe that owning additional agribusiness operations in close proximity to our ethanol plants enables us to strengthen relationships with local corn producers , allowing us to source corn more effectively and at a lower average cost . we also plan to continue to grow our downstream access to customers and are actively seeking new marketing opportunities with other ethanol producers . we continue our support of the bioprocess algae joint venture , which is focused on developing technology to grow and harvest algae , which consume carbon dioxide , in commercially viable quantities . construction of phase ii was completed and the grower harvesters bioreactors were successfully started up in january 2011. phase ii allows for verification of growth rates , energy balances and operating expenses , which are considered to be some of the key steps to commercialization . the cost of the phase ii project was shared by the joint venture partners . as part of the phase ii funding , we increased our ownership in bioprocess algae to 35 % . during the third quarter of 2011 , bioprocess algae constructed an outdoor grower harvester system next to our shenandoah ethanol plant , which is successfully producing algae . bioprocess algae successfully completed its first round of algae-based poultry feed trials , in conjunction with the university of illinois . the algae strains produced by the grower harvester system for the feed trials demonstrated high energy and protein content that was readily available , similar to other high value feed products used in the feeding of poultry today . bioprocess algae broke ground on a five acre algae farm in the first quarter of 2012 at the same location . if we and the other bioprocess algae members determine that the venture can achieve the desired economic performance from the five acre farm , a build-out of 400 acres of grower harvester reactors will be considered . the cost of such a build-out is estimated at $ 40 million to $ 60 million and could take up to a year to complete . funding for bioprocess algae for such a project would come from a variety of sources including current partners , new equity investors , debt financing or a combination thereof . if a decision was made to replicate such a 400 acre algae farm at all of our ethanol plants , we estimate that the required investment could range from $ 300 million to $ 500 million . bioprocess algae currently is exploring potential algae markets including animal feeds , nutraceuticals and biofuels . industry factors affecting our results of operations variability of commodity prices . our operations and our industry are highly dependent on commodity prices , especially prices for corn , ethanol , distillers grains and natural gas . because the market prices of these commodities are not always 33 correlated , at times ethanol production may be unprofitable . as commodity price volatility poses a significant threat to our margin structure , we have developed a risk management strategy focused on locking in favorable operating margins when they are available . we continually monitor market prices of corn , natural gas and other input costs relative to the prices for ethanol and distillers grains at each of our production facilities . we create offsetting positions by using a combination of derivative instruments , fixed-price purchases and sales contracts , or a combination of strategies within strict limits . our primary focus is not to manage general price movements of individual commodities , for example to minimize the cost of corn consumed , but rather to lock in favorable profit margins whenever possible . by using a variety of risk management tools and hedging strategies , including our internally-developed real-time margin management system , we believe we are able to maintain a disciplined approach to risk . there may be periods of time that , due to the variability of commodity prices and compressed margins identified by our risk management system , we make a decision to reduce or cease ethanol production operations at certain of our ethanol plants . in the first quarter of 2012 , we have reduced production volumes at two of our ethanol plants by approximately 30 % , or about 5 % of our total production , in direct response to unfavorable operating margins . in response to relatively strong margins in the fourth quarter of 2011 , the ethanol industry increased production and ended the year with excess inventories , which has adversely affected the margin environment in the beginning of 2012. reduced availability of capital . some ethanol producers have faced financial distress over the past few years , culminating with bankruptcy filings by several companies . this , in combination with continued volatility in the capital markets has resulted in reduced availability of capital for the ethanol industry generally . in this market environment , we may experience limited access to incremental financing . legislation . federal and state governments have enacted numerous policies , incentives and subsidies to encourage the usage of domestically-produced alternative fuel solutions . story_separator_special_tag effective january 1 , 2012 , we will be required to adopt the third phase of amended guidance in asc topic 820 , fair value measurements and disclosures . the purpose of the amendment is to achieve common fair value measurement and disclosure requirements by improving comparability of fair value measurements presented and disclosed in financial statements prepared in accordance with gaap and those prepared in conformity with international financial reporting standards , or ifrs . the amended guidance clarifies the application of existing fair value measurement requirements and requires additional disclosure for level 3 measurements regarding the sensitivity of fair value to changes in unobservable inputs and any interrelationships between those inputs . we currently would not be impacted by the additional disclosure requirements as we do not have any recurring level 3 measurements . effective january 1 , 2012 , we will be required to adopt the amended guidance in asc topic 220 , comprehensive income . this accounting standards update , which helps to facilitate the convergence of gaap and ifrs , is aimed at increasing the prominence of other comprehensive income in the financial statement by eliminating the option to present other comprehensive income in the statement of stockholders ' equity , and requiring comprehensive income to be reported in either a single continuous statement or in two separate but consecutive statements reporting net income and other comprehensive income . this amended guidance will be implemented retroactively . we have determined that the changes to the accounting standards will affect the presentation of consolidated financial information but will not have a material effect on the company 's financial position or results of operations . effective january 1 , 2012 , we will be permitted to adopt the amended guidance in asc topic 350 , intangibles  goodwill and other . the amended guidance permits an entity to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test . the more-likely-than-not threshold is defined as having a likelihood of more than 50 percent . we have determined that the changes to the accounting standards will not impact our disclosure or reporting requirements . 37 off-balance sheet arrangements we do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future material effect on our consolidated financial condition , results of operations or liquidity . components of revenues and expenses revenues . in our ethanol production segment , our revenues are derived primarily from the sale of ethanol and distillers grains , which is a co-product of the ethanol production process . in our corn oil production segment , our revenues are derived from the sale of corn oil , which is extracted from the whole stillage process immediately prior to the production of distillers grains . in our agribusiness segment , the sale of grain , fertilizer and petroleum products are our primary sources of revenue . in our marketing and distribution segment , the sale of ethanol , distillers grains and corn oil that we market for our nine ethanol plants and the sale of ethanol we market for the ethanol plants owned by third parties represent our primary sources of revenue . revenues also include net gains or losses from derivatives . cost of goods sold . cost of goods sold in our ethanol production and corn oil production segments includes costs for direct labor , materials and certain plant overhead costs . direct labor includes all compensation and related benefits of non-management personnel involved in the operation of our ethanol plants . plant overhead costs primarily consist of plant utilities , plant depreciation and outbound freight charges . our cost of goods sold is mainly affected by the cost of ethanol , corn , natural gas and transportation . in these segments , corn is our most significant raw material cost . we purchase natural gas to power steam generation in our ethanol production process and to dry our distillers grains . natural gas represents our second largest cost in this business segment . cost of goods sold also includes net gains or losses from derivatives . grain , fertilizer and petroleum acquisition costs represent the primary components of cost of goods sold in our agribusiness segment . grain inventories , forward purchase contracts and forward sale contracts are valued at market prices , where available , or other market quotes adjusted for differences , primarily transportation , between the exchange-traded market and the local markets on which the terms of the contracts are based . changes in the market value of grain inventories , forward purchase and sale contracts , and exchange-traded futures and options contracts are recognized in earnings as a component of cost of goods sold . in our marketing and distribution segment , purchases of ethanol , distillers grains and corn oil represent the largest components of cost of goods sold . transportation expense represents an additional major component of our cost of goods sold in this segment . transportation expense includes rail car leases , freight and shipping of our ethanol and co-products , as well as costs incurred in storing ethanol at destination terminals . selling , general and administrative expenses . selling , general and administrative expenses are recognized at the operating segment level , as well as at the corporate level . these expenses consist of employee salaries , incentives and benefits ; office expenses ; board fees ; and professional fees for accounting , legal , consulting , and investor relations activities . personnel costs , which include employee salaries , incentives and benefits , are the largest single category of expenditures in selling , general and administrative expenses . we refer to selling , general and administrative expenses that are not allocable to a

debt for additional information related to our debt , see note 10  debt included herein as part of the notes to consolidated financial statements . ethanol production segment each of our ethanol production segment subsidiaries have credit facilities with lender groups that provide for term and revolving term loans to finance construction and operation of the production facilities . the green plains bluffton loan is comprised of a $ 70.0 million amortizing term loan and a $ 20.0 million revolving term loan . at december 31 , 2011 , $ 48.0 million related to the term loan was outstanding , along with the entire revolving term loan . the term loan requires monthly principal payments of approximately $ 0.6 million . the loans mature on november 19 , 2013. the green plains central city loan is comprised of a $ 55.0 million amortizing term loan and a $ 30.5 million revolving term loan as well as a revolving credit supplement of up to $ 11.0 million . at december 31 , 2011 , $ 46.6 million related to the term loan was outstanding , along with $ 24.7 million on the revolving term loan . the term loan requires monthly payments of $ 0.6 million . the term loan and the revolving term loan mature on july 1 , 2016 and the revolver matures on june 29 , 2012 with an option to renew . the green plains holdings ii loan is comprised of a $ 34.1 million amortizing term loan , a $ 42.6 million revolving term loan and a $ 15.0 million revolving line of credit loan . at december 31 , 2011 , $ 27.9 million was outstanding on the term loan , along with $ 35.7 million on the revolving term loan and $ 15.0 million on the revolving line of credit loan . the term loan requires quarterly principal payments of $ 1.5 million . the revolving term loan requires semi-annual principal payments of approximately $ 2.7 million .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```debt for additional information related to our debt , see note 10  debt included herein as part of the notes to consolidated financial statements . ethanol production segment each of our ethanol production segment subsidiaries have credit facilities with lender groups that provide for term and revolving term loans to finance construction and operation of the production facilities . the green plains bluffton loan is comprised of a $ 70.0 million amortizing term loan and a $ 20.0 million revolving term loan . at december 31 , 2011 , $ 48.0 million related to the term loan was outstanding , along with the entire revolving term loan . the term loan requires monthly principal payments of approximately $ 0.6 million . the loans mature on november 19 , 2013. the green plains central city loan is comprised of a $ 55.0 million amortizing term loan and a $ 30.5 million revolving term loan as well as a revolving credit supplement of up to $ 11.0 million . at december 31 , 2011 , $ 46.6 million related to the term loan was outstanding , along with $ 24.7 million on the revolving term loan . the term loan requires monthly payments of $ 0.6 million . the term loan and the revolving term loan mature on july 1 , 2016 and the revolver matures on june 29 , 2012 with an option to renew . the green plains holdings ii loan is comprised of a $ 34.1 million amortizing term loan , a $ 42.6 million revolving term loan and a $ 15.0 million revolving line of credit loan . at december 31 , 2011 , $ 27.9 million was outstanding on the term loan , along with $ 35.7 million on the revolving term loan and $ 15.0 million on the revolving line of credit loan . the term loan requires quarterly principal payments of $ 1.5 million . the revolving term loan requires semi-annual principal payments of approximately $ 2.7 million .
```    
 Suspicious Activity Report : we intend to continue to take a disciplined approach in evaluating new opportunities related to potential acquisition of additional ethanol plants by considering whether the plants fit within the design , engineering and geographic criteria we have developed . in our marketing and distribution segment , our strategy is to renew existing marketing contracts , as well as enter new contracts with other ethanol producers . we also intend to pursue opportunities to develop or acquire additional grain elevators and agronomy businesses , specifically those located near our ethanol plants . we believe that owning additional agribusiness operations in close proximity to our ethanol plants enables us to strengthen relationships with local corn producers , allowing us to source corn more effectively and at a lower average cost . we also plan to continue to grow our downstream access to customers and are actively seeking new marketing opportunities with other ethanol producers . we continue our support of the bioprocess algae joint venture , which is focused on developing technology to grow and harvest algae , which consume carbon dioxide , in commercially viable quantities . construction of phase ii was completed and the grower harvesters bioreactors were successfully started up in january 2011. phase ii allows for verification of growth rates , energy balances and operating expenses , which are considered to be some of the key steps to commercialization . the cost of the phase ii project was shared by the joint venture partners . as part of the phase ii funding , we increased our ownership in bioprocess algae to 35 % . during the third quarter of 2011 , bioprocess algae constructed an outdoor grower harvester system next to our shenandoah ethanol plant , which is successfully producing algae . bioprocess algae successfully completed its first round of algae-based poultry feed trials , in conjunction with the university of illinois . the algae strains produced by the grower harvester system for the feed trials demonstrated high energy and protein content that was readily available , similar to other high value feed products used in the feeding of poultry today . bioprocess algae broke ground on a five acre algae farm in the first quarter of 2012 at the same location . if we and the other bioprocess algae members determine that the venture can achieve the desired economic performance from the five acre farm , a build-out of 400 acres of grower harvester reactors will be considered . the cost of such a build-out is estimated at $ 40 million to $ 60 million and could take up to a year to complete . funding for bioprocess algae for such a project would come from a variety of sources including current partners , new equity investors , debt financing or a combination thereof . if a decision was made to replicate such a 400 acre algae farm at all of our ethanol plants , we estimate that the required investment could range from $ 300 million to $ 500 million . bioprocess algae currently is exploring potential algae markets including animal feeds , nutraceuticals and biofuels . industry factors affecting our results of operations variability of commodity prices . our operations and our industry are highly dependent on commodity prices , especially prices for corn , ethanol , distillers grains and natural gas . because the market prices of these commodities are not always 33 correlated , at times ethanol production may be unprofitable . as commodity price volatility poses a significant threat to our margin structure , we have developed a risk management strategy focused on locking in favorable operating margins when they are available . we continually monitor market prices of corn , natural gas and other input costs relative to the prices for ethanol and distillers grains at each of our production facilities . we create offsetting positions by using a combination of derivative instruments , fixed-price purchases and sales contracts , or a combination of strategies within strict limits . our primary focus is not to manage general price movements of individual commodities , for example to minimize the cost of corn consumed , but rather to lock in favorable profit margins whenever possible . by using a variety of risk management tools and hedging strategies , including our internally-developed real-time margin management system , we believe we are able to maintain a disciplined approach to risk . there may be periods of time that , due to the variability of commodity prices and compressed margins identified by our risk management system , we make a decision to reduce or cease ethanol production operations at certain of our ethanol plants . in the first quarter of 2012 , we have reduced production volumes at two of our ethanol plants by approximately 30 % , or about 5 % of our total production , in direct response to unfavorable operating margins . in response to relatively strong margins in the fourth quarter of 2011 , the ethanol industry increased production and ended the year with excess inventories , which has adversely affected the margin environment in the beginning of 2012. reduced availability of capital . some ethanol producers have faced financial distress over the past few years , culminating with bankruptcy filings by several companies . this , in combination with continued volatility in the capital markets has resulted in reduced availability of capital for the ethanol industry generally . in this market environment , we may experience limited access to incremental financing . legislation . federal and state governments have enacted numerous policies , incentives and subsidies to encourage the usage of domestically-produced alternative fuel solutions . story_separator_special_tag effective january 1 , 2012 , we will be required to adopt the third phase of amended guidance in asc topic 820 , fair value measurements and disclosures . the purpose of the amendment is to achieve common fair value measurement and disclosure requirements by improving comparability of fair value measurements presented and disclosed in financial statements prepared in accordance with gaap and those prepared in conformity with international financial reporting standards , or ifrs . the amended guidance clarifies the application of existing fair value measurement requirements and requires additional disclosure for level 3 measurements regarding the sensitivity of fair value to changes in unobservable inputs and any interrelationships between those inputs . we currently would not be impacted by the additional disclosure requirements as we do not have any recurring level 3 measurements . effective january 1 , 2012 , we will be required to adopt the amended guidance in asc topic 220 , comprehensive income . this accounting standards update , which helps to facilitate the convergence of gaap and ifrs , is aimed at increasing the prominence of other comprehensive income in the financial statement by eliminating the option to present other comprehensive income in the statement of stockholders ' equity , and requiring comprehensive income to be reported in either a single continuous statement or in two separate but consecutive statements reporting net income and other comprehensive income . this amended guidance will be implemented retroactively . we have determined that the changes to the accounting standards will affect the presentation of consolidated financial information but will not have a material effect on the company 's financial position or results of operations . effective january 1 , 2012 , we will be permitted to adopt the amended guidance in asc topic 350 , intangibles  goodwill and other . the amended guidance permits an entity to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test . the more-likely-than-not threshold is defined as having a likelihood of more than 50 percent . we have determined that the changes to the accounting standards will not impact our disclosure or reporting requirements . 37 off-balance sheet arrangements we do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future material effect on our consolidated financial condition , results of operations or liquidity . components of revenues and expenses revenues . in our ethanol production segment , our revenues are derived primarily from the sale of ethanol and distillers grains , which is a co-product of the ethanol production process . in our corn oil production segment , our revenues are derived from the sale of corn oil , which is extracted from the whole stillage process immediately prior to the production of distillers grains . in our agribusiness segment , the sale of grain , fertilizer and petroleum products are our primary sources of revenue . in our marketing and distribution segment , the sale of ethanol , distillers grains and corn oil that we market for our nine ethanol plants and the sale of ethanol we market for the ethanol plants owned by third parties represent our primary sources of revenue . revenues also include net gains or losses from derivatives . cost of goods sold . cost of goods sold in our ethanol production and corn oil production segments includes costs for direct labor , materials and certain plant overhead costs . direct labor includes all compensation and related benefits of non-management personnel involved in the operation of our ethanol plants . plant overhead costs primarily consist of plant utilities , plant depreciation and outbound freight charges . our cost of goods sold is mainly affected by the cost of ethanol , corn , natural gas and transportation . in these segments , corn is our most significant raw material cost . we purchase natural gas to power steam generation in our ethanol production process and to dry our distillers grains . natural gas represents our second largest cost in this business segment . cost of goods sold also includes net gains or losses from derivatives . grain , fertilizer and petroleum acquisition costs represent the primary components of cost of goods sold in our agribusiness segment . grain inventories , forward purchase contracts and forward sale contracts are valued at market prices , where available , or other market quotes adjusted for differences , primarily transportation , between the exchange-traded market and the local markets on which the terms of the contracts are based . changes in the market value of grain inventories , forward purchase and sale contracts , and exchange-traded futures and options contracts are recognized in earnings as a component of cost of goods sold . in our marketing and distribution segment , purchases of ethanol , distillers grains and corn oil represent the largest components of cost of goods sold . transportation expense represents an additional major component of our cost of goods sold in this segment . transportation expense includes rail car leases , freight and shipping of our ethanol and co-products , as well as costs incurred in storing ethanol at destination terminals . selling , general and administrative expenses . selling , general and administrative expenses are recognized at the operating segment level , as well as at the corporate level . these expenses consist of employee salaries , incentives and benefits ; office expenses ; board fees ; and professional fees for accounting , legal , consulting , and investor relations activities . personnel costs , which include employee salaries , incentives and benefits , are the largest single category of expenditures in selling , general and administrative expenses . we refer to selling , general and administrative expenses that are not allocable to a

