Note 1. Consolidated Condensed Financial
Statements
The
consolidated condensed financial statements included in this
report have been prepared by the Company, without audit,
pursuant to the rules and regulations of the Securities and
Exchange Commission and include, in the opinion of
management, all adjustments necessary to state fairly the
information set forth therein. Any such adjustments were of a
normal recurring nature. Certain information and footnote
disclosures normally included in financial statements
prepared in accordance with accounting principles generally
accepted in the United States of America have been omitted
pursuant to such rules and regulations, although the Company
believes that the disclosures are adequate to make the
information presented not misleading. Financial information
as of January 31, 2012 included in these financial statements
has been derived from the audited consolidated financial
statements included in the Company’s Annual Report on
Form 10-K for the year ended January 31, 2012 (fiscal year
2011). It is suggested that these unaudited consolidated
condensed financial statements be read in conjunction with
the consolidated financial statements and the notes thereto
included in the Company’s Annual Report on Form 10-K for
the year ended January 31, 2012. The results of operations
for the interim periods are not necessarily indicative of the
results to be expected for the year.
Basis
of Consolidation – The consolidated condensed financial
statements in this report include the operating results and
financial position of REX American Resources Corporation and
its wholly and majority owned subsidiaries. The Company
includes the results of operations of One Earth Energy, LLC
(“One Earth”) in its Consolidated Condensed
Statements of Operations on a delayed basis of one month.
Effective November 1, 2011, the Company acquired a majority
ownership interest in NuGen Energy, LLC (“NuGen”),
and included the results of operations in its Consolidated
Condensed Statements of Operations on a prospective
basis.
Nature
of Operations – The Company operates in two reportable
segments, alternative energy and real estate. The Company
substantially completed the exit of its retail business
during the second quarter of fiscal year 2009, although it
continues to recognize revenue and expense associated with
administering extended service policies as discontinued
operations.
Free historical financial statements for REX American Resources Corp..
See how revenue, income, cash flow, and balance sheet financials have changed over 50 quarters since 2012. Compare with REX stock chart to see long term trends.
Data imported from REX American Resources Corp. SEC filings. Check original filings before making any investment decision.