AGFEED INDUSTRIES, INC. 
By The Company reported unaudited total revenue for the six months ended December 31, 2011 of $196.4 million, comprised as follows for its four reporting segments (in thousands):
Animal feed nutrition $ 34,608
Hog production - United States 131,976
Hog production - China 29,175
Western-style hog farms 651
Total $196,410
The Company also estimates that it incurred a net loss for the second half of 2011 in the range of $3.0 million - $5.0 million, which included $4.8 million (after tax) of legal and other expenses associated with the previously announced investigation by the Special Committee of the Board. Cash and cash equivalents totaled $12.8 million at December 31, 2011. All figures are unaudited. The above second half 2011 amounts do not include the potential effects, if any, of the Company's ongoing restatement process described below.
As reported on January 31, 2012, the Special Committee of the Board completed its investigation into certain accounting issues in the animal nutrition and legacy farm hog operations in China. During the investigation by the Special Committee and subsequent further evaluation by management, accounting irregularities were uncovered in both of those segments. The Board and management are working closely with McGladrey & Pullen, LLP, the Company's independent public accountants, and the predecessor accounting firm on restating the Company's financial statements for the 2008 fiscal year and subsequent periods through the first two quarters of 2011. The Company expects to file restated financial statements and return to a regular reporting schedule as soon as practicable. The Company believes that the effect of the restatements will be non-cash items and will not affect current liquidity.
Over the past few months, AgFeed has taken actions to improve operations in the U.S. and China. These actions include:
