Question-and-Answer Session
Operator
(Operator Instructions) Our first question comes from Joseph Gomes - Oppenheimer & Co.
Joseph Gomes - Oppenheimer & Co.
I was wondering if you guys might be able to give me the amount of DDG sales in the quarter and what your average price was?
Neil M. Koehler
We don’t actually break those out but you can certainly back into it if you look at our co-product return. From a modeling standpoint you can probably work with the co-product return number based upon our corn; a pretty typical amount of distillers grain versus the corn used.
Joseph Gomes - Oppenheimer & Co.
I’ll also ask my typical question on the [Pursuit Dynamics]. Anything new going on there?
Neil M. Koehler
We’re still working very diligently with Pursuit Dynamics. The status there we believe that it is going to result in meaningful yield improvements. Some of the operating issues that we ran into when we were putting it into commercial operations required us to work with Pursuit Dynamics to really reconfigure and expand the equipment so that we can have the units more integrated and be able to clean it off line while we continue to operate. So it’s essentially putting in an additional unit that is currently being constructed. We hope by the end of the year or early next to have that new equipment installed and continue with the testing regime.
Joseph Gomes - Oppenheimer & Co.
On the liquidity issue if I was doing some quick back-of-the-envelope calculations correctly, with the final drawdown on the debt facility it sounded like in October you had roughly $36 million worth of cash left over for use of working capital purposes. Is that somewhat in the ballpark?
Neil M. Koehler
We don’t give forward guidance on exactly where we were but you can see from the end of the quarter that the cash on the balance sheet was a bit over $30 million and it was actually roughly the same as it had been the prior quarter and subsequent to that we did get the additional return of the equity that Joe talked about.
Joseph Gomes - Oppenheimer & Co.
On the SG&A I know you mentioned it would be going down on a per gallon basis and on a percentage of revenue basis, but on an actual dollar basis it has been coming down. Is this level today or in the third quarter a good level to be modeling or do you still think there’s more to ring out in that?
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