• 10-K

• 10-Q

• 8-K

• 10-Q/A

Audited Annual Financial Statement

Quarterly Reviewed Financial Statements

Public filing of miscellaneous information updates

Amended Quarterly Financial Statements

All information that is available from NEDAK is posted in these documents. 

The financial statements have comprehensive Notes and Management Discussion.

Please refer to these documents freely for answers to your questions.

Web update:    It has been some time since this web page has been updated.  NEDAK management apologizes for this delay.  The first priority must be to protect our investor’s interests and these recent three months have been full of critical issues as we approach mechanical completion and performance testing of the plant. 

Plant Status:    Because of the matters discussed below, construction completion of our ethanol plant has been delayed.  We now expect that we will commence operations at the plant in the fourth quarter of 2008. 

Construction Issues:  We have identified certain deficiencies in the construction of our ethanol plant which was expected to achieve mechanical completion by July 15, 2008.  After working with our contractor, Delta-T Corporation (“Delta”) to resolve those deficiencies, on August 4, 2008, we and Delta executed a Second Letter of Commitment and Intent (the “Second LOC”) which provides that we and Delta will negotiate in good faith to amend the Engineering, Procurement and Construction Services Fixed Price Contract (the “Contract”) dated August 9, 2006 with Delta to provide the following:  

·         Declare that the ethanol plant met Mechanical Completion as of the date of the Second LOC, July 28, 2008.

·         Performance Testing must be completed and Name Plate Production must be reached by sixty days after Mechanical Completion.

·         The incentive payment of $5,000,000 (which we agreed to pay Delta in April, 2008) will be deferred, payable by NEDAK 24 months after Performance Test Acceptance, plus interest.

·         Ethanol process Performance Testing will not include the dryer/ regenerative thermal oxidizer (“RTO”).  The dryer will be tested for guaranteed performance separately after it is completed.

·         Delta will pay liquidated damages if the ethanol plant does not meet its Name Plate Weekly Production within sixty days of Mechanical Completion.  Such payments would be calculated at thirty cents per gallon per week for each gallon that our weekly production is less than 850,000 gallons (Name Plate) per week.

·         The first portion of construction retainage was paid to Delta on Wednesday, August 6, 2008.

·         The rest of the retainer will be paid in increments upon completion of the following specified plant components:

o        Delta will engage an independent third-party engineer to certify that all tanks are “safe and functional” and that all tanks meet Nebraska Code requirements.  Any recommended changes by the engineer will be completed by Delta at Delta’s expense.

o        Insulation.

o        The dryer and performance demonstration.

o        The installation of the liner and gravel in the ethanol storage tank spill containment

o        Mechanical Completion punch-list completion.

·         Delta will cause the tank constructor to provide a ten-year warranty for the tanks, supported by a $500,000 guaranty of the owner of the tank constructor.

·         If any government regulatory agency finds that any tank in the petroleum product tank farm does not meet Nebraska Code requirements, then such deficiency will be covered by the warranty contained in the Contract.

Wind Damage:  On June 12, 2008, a severe wind burst damaged the RTO at the plant.  As of August 11, the damage has been repaired, but the delays required by the repairs may require that some of the first production of Distiller’s grain will be sold as wet product with discounted prices.

  and installing the skin on the Boiler

    Erected the fire water tank

     Rail road almost complete & ethanol storage tank is complete

 Working On the Fermentation Tanks, Beerwell, Liquefaction Tank, and the tanks in the tank

 farm area

 Foundations are poured for DDGS Building, truck receiving pits, grain bins, fermentation

 building, fermentation tanks, and beer well.