##### Table of Contents



UNITED STATES SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 FORM 10-Q
 þ
    
    Quarterly report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
 For the quarterly period ended June 30, 2010
 OR
 o
    
    Transition report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
 For the transition period from  to
 Commission file number 000-52617
 WESTERN DUBUQUE BIODIESEL, LLC
  Iowa
(State or other jurisdiction of organization)
    
    20-3857933
(I.R.S. Employer Identification No.)
 904 Jamesmeier Rd.
P.O. Box 82
Farley, IA 52046
 (563) 744-3554
 þ o
 o o
  Large Accelerated Filer o
Accelerated Filer o
Non-Accelerated Filer o(Do not check if a smaller reporting company)
Smaller Reporting Company þ o þ




---



##### 



INDEX
  
 Page No.PART I. FINANCIAL INFORMATION
    
    
    1Item 1. Financial Statements
    
    
    1Item 2. Managements Discussion and Analysis of Financial Condition and Results of
Operations
    
    
    14Item 3. Quantitative and Qualitative Disclosures about Market Risks
    
    
    21PART II. OTHER INFORMATION
    
    
    22Item 1. Legal Proceedings
    
    
    22Item 1A. Risk Factors
    
    
    23Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
    
    
    23Item 3. Defaults Upon Senior Securities
    
    
    23Item 4. (Removed and Reserved)
    
    
    23Item 5. Other Information
    
    
    23Item 6. Exhibits
    
    
    24SIGNATURES
    
    
    24Exhibit 31.1Exhibit 31.2Exhibit 32.1Exhibit 32.2
   ii




---



##### Table of Contents



PART I. FINANCIAL INFORMATION
 
 Item 1. Financial Statements
 WESTERN DUBUQUE BIODIESEL, LLC
BALANCE SHEETS
 (unaudited)June 30,
    
    
    December 31,2010
    
    
    2009ASSETSCURRENT ASSETSCash and cash equivalents
    
    $
    2,273,812
    
    
    $
    3,379,382Margin deposits
    
    
    499,065
    
    
    
    13,890Accounts receivable:Trade
    
    
    
    
    
    
    55,090Related party
    
    
    37,733
    
    
    
    143,059Other receivables
    
    
    212,308
    
    
    
    12,000Derivative instruments
    
    
    69,779
    
    
    
    Incentive receivables
    
    
    
    
    
    
    3,494,322Inventory
    
    
    7,438,276
    
    
    
    313,929Utility deposits
    
    
    87,099
    
    
    
    Prepaid feedstocks and expenses
    
    
    30,170
    
    
    
    93,829Total current assets
    
    
    10,648,242
    
    
    
    7,505,501PROPERTY, PLANT AND EQUIPMENTLand and land improvements
    
    
    3,091,093
    
    
    
    3,091,093Office building and equipment
    
    
    407,203
    
    
    
    407,203Plant and process equipment
    
    
    37,799,987
    
    
    
    37,799,987Vehicles
    
    
    42,537
    
    
    
    42,537Total, at cost
    
    
    41,340,820
    
    
    
    41,340,820Less accumulated depreciation
    
    
    6,389,690
    
    
    
    5,294,490Total property, plant and equipment
    
    
    34,951,130
    
    
    
    36,046,330OTHER ASSETSRestricted cash
    
    
    406,929
    
    
    
    406,929Loan origination fees, net of amortization
    
    
    237,898
    
    
    
    285,477Total other assets
    
    
    644,827
    
    
    
    692,406TOTAL ASSETS
    
    $
    46,244,199
    
    
    $
    44,244,237LIABILITIES AND MEMBERS EQUITYCURRENT LIABILITIESAccounts payable:Trade
    
    $
    86,573
    
    
    $
    390,791Related party
    
    
    
    
    
    
    1,047,081Short-term borrowings  related party
    
    
    5,658,500
    
    
    
    Current portion of long-term debt
    
    
    24,940,905
    
    
    
    25,435,486Derivative instruments
    
    
    
    
    
    
    5,737Accrued liabilities
    
    
    67,138
    
    
    
    63,138Deferred rent
    
    
    16,100
    
    
    
    17,400Total current liabilities
    
    
    30,769,216
    
    
    
    26,959,633MEMBERS EQUITYContributed capital
    
    
    26,230,096
    
    
    
    26,230,096Accumulated deficit
    
    
    (10,755,113
    )
    
    
    (8,945,492
    )Total members equity
    
    
    15,474,983
    
    
    
    17,284,604TOTAL LIABILITIES AND MEMBERS EQUITY
    
    $
    46,244,199
    
    
    $
    44,244,237
   1




---



##### Table of Contents



WESTERN DUBUQUE BIODIESEL, LLC
STATEMENTS OF OPERATIONS (UNAUDITED)
 Three Months Ended
    
    
    Three Months Ended
    
    
    Six Months Ended
    
    
    Six Months EndedJune 30, 2010
    
    
    June 30, 2009
    
    

June 30, 2010
    
    
    June 30, 2009REVENUESBiodiesel and by product sales  related party
    
    $
    214,913
    
    
    $
    2,364,366
    
    
    $
    214,913
    
    
    $
    2,409,900Tolling services  related party
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1,030,385Incentive funds
    
    
    
    
    
    
    426,252
    
    
    
    
    
    
    
    426,252Total revenues
    
    
    214,913
    
    
    
    2,790,618
    
    
    
    214,913
    
    
    
    3,866,537COST OF SALESMaterials, labor and overhead
    
    
    656,583
    
    
    
    1,854,222
    
    
    
    1,519,850
    
    
    
    3,689,574Net losses (gains) on derivative instruments
    
    
    (524,603
    )
    
    
    431,239
    
    
    
    (355,692
    )
    
    
    420,503Total cost of sales
    
    
    131,980
    
    
    
    2,285,461
    
    
    
    1,164,158
    
    
    
    4,110,077Gross profit (loss)
    
    
    82,933
    
    
    
    505,157
    
    
    
    (949,245
    )
    
    
    (243,540
    )OPERATING EXPENSESConsulting and professional fees
    
    
    41,707
    
    
    
    73,979
    
    
    
    119,523
    
    
    
    144,181Office and administrative expenses
    
    
    80,976
    
    
    
    88,194
    
    
    
    143,959
    
    
    
    151,196Total operating expenses
    
    
    122,683
    
    
    
    162,173
    
    
    
    263,482
    
    
    
    295,377OTHER INCOME (EXPENSE)Other income
    
    
    650
    
    
    
    650
    
    
    
    1,300
    
    
    
    1,300Interest income
    
    
    7,496
    
    
    
    10,445
    
    
    
    17,514
    
    
    
    42,584Interest expense
    
    
    (369,014
    )
    
    
    (262,379
    )
    
    
    (615,708
    )
    
    
    (524,234
    )Total other expense
    
    
    (360,868
    )
    
    
    (251,284
    )
    
    
    (596,894
    )
    
    
    (480,350
    )NET INCOME (LOSS)
    
    $
    (400,618
    )
    
    $
    91,700
    
    
    $
    (1,809,621
    )
    
    $
    (1,019,267
    )BASIC AND DILUTED INCOME (LOSS) PER UNIT
    
    $
    (13.45
    )
    
    $
    3.08
    
    
    $
    (60.77
    )
    
    $
    (34.23
    )WEIGHTED AVERAGE UNITS OUTSTANDING,
BASIC AND DILUTED
    
    $
    29,779
    
    
    
    29,779
    
    
    
    29,779
    
    
    
    29,779
   2




---



##### Table of Contents



WESTERN DUBUQUE BIODIESEL, LLC
STATEMENTS OF CASH FLOWS (UNAUDITED)
 Six Months Ended
    
    
    Six Months EndedJune 30, 2010
    
    
    June 30, 2009CASH FLOWS FROM OPERATING ACTIVITIESNet loss
    
    $
    (1,809,621
    )
    
    $
    (1,019,267
    )Adjustments to reconcile net loss to net cash
used in operating activitiesDepreciation
    
    
    1,095,200
    
    
    
    1,094,433Amortization
    
    
    47,579
    
    
    
    47,580Effects of changes in operating assets and liabilitiesMargin deposits
    
    
    (485,175
    )
    
    
    (402,086
    )Accounts receivable
    
    
    160,416
    
    
    
    (48,470
    )Other receivables
    
    
    (200,308
    )
    
    
    (12,342
    )Incentive receivables
    
    
    3,494,322
    
    
    
    (419,679
    )Inventory
    
    
    (7,124,347
    )
    
    
    (3,965,070
    )Utility deposits
    
    
    (87,099
    )
    
    
    Prepaid feedstocks and expenses
    
    
    63,659
    
    
    
    27,239Derivative instruments
    
    
    (75,516
    )
    
    
    (1,411
    )Accounts payable
    
    
    (1,351,299
    )
    
    
    (397,786
    )Accrued liabilities
    
    
    4,000
    
    
    
    (102,149
    )Deferred rent
    
    
    (1,300
    )
    
    
    8,700Net cash used in operating activities
    
    
    (6,269,489
    )
    
    
    (5,190,308
    )CASH FLOWS FROM INVESTING ACTIVITIESPayments for property, plant and equipment,
including construction in progress
    
    
    
    
    
    
    (41,387
    )Increase in restricted cash
    
    
    
    
    
    
    (123,916
    )Net cash used in investing activities
    
    
    
    
    
    
    (165,303
    )CASH FLOWS FROM FINANCING ACTIVITIESNet borrowings under short-term financing with related party
    
    
    5,658,500
    
    
    
    Payments on long-term debt
    
    
    (494,581
    )
    
    
    (1,617,675
    )Net cash provided by (used in) financing activities
    
    
    5,163,919
    
    
    
    (1,617,675
    )NET DECREASE IN CASH AND CASH EQUIVALENTS
    
    
    (1,105,570
    )
    
    
    (6,973,286
    )CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
    
    
    3,379,382
    
    
    
    7,553,554CASH AND CASH EQUIVALENTS, END OF PERIOD
    
    $
    2,273,812
    
    
    $
    580,268
   3




---



##### Table of Contents



WESTERN DUBUQUE BIODIESEL, LLC
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2010
 NOTE 1  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
  Use of Estimates in Preparing Financial Statements
  Basis of Accounting
    Revenue Recognition
  Cash and Cash Equivalents
   Restricted Cash
  Accounts Receivable
    4




---



##### Table of Contents



WESTERN DUBUQUE BIODIESEL, LLC
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2010
 Derivative Instruments and Hedging Activities
 Derivatives and Hedging
 Inventories
  Property and Equipment
   YearsLand improvements
    
    
    20-40Office equipment
    
    
    5-10Office building
    
    
    30Plant and process equipment
    
    
    10-40Vehicles
    
    
    5-7
  Loan Origination Fees
  Income Taxes
   5




---



##### Table of Contents



WESTERN DUBUQUE BIODIESEL, LLC
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2010
 Loss Per Unit
  Cost of Sales
   Shipping and Handling Costs
  Environmental Liabilities
  Fair Value of Financial Instruments
  Current assets and current liabilities
 Long-term debt
 New Accounting Standards
 Subsequent Events
  6




---



##### Table of Contents



WESTERN DUBUQUE BIODIESEL, LLC
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2010
 Fair Value Measurements and Disclosures
 Disclosures about the Credit Quality of Financing
Receivables and the Allowance for Credit Losses
 NOTE 2  INCENTIVE PAYMENTS AND RECEIVABLE
   NOTE 3  INVENTORY
  (unaudited)June 30,
    
    
    December 31,2010
    
    
    2009Raw material
    
    $
    768,594
    
    
    $
    161,471Work in progress
    
    
    373,385
    
    
    
    72,996Finished goods
    
    
    6,296,297
    
    
    
    79,462Total
    
    $
    7,438,276
    
    
    $
    313,929
  7




---



##### Table of Contents



WESTERN DUBUQUE BIODIESEL, LLC
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2010
 NOTE 4  LONG-TERM DEBT AND FINANCING
  (unaudited)June 30,
    
    
    December 31,2010
    
    
    2009Note payable to Beal Bank  see details below
    
    $
    24,728,636
    
    
    $
    25,188,855Note payable to the Iowa Department of Economic
Development  see details below
    
    
    210,000
    
    
    
    240,000Note payable to Hodge Material Handling  see
details below
    
    
    2,269
    
    
    
    6,631Total
    
    
    24,940,905
    
    
    
    25,435,486Less current portion
    
    
    24,940,905
    
    
    
    25,435,486Long-term portion
    
    $
    
    
    
    $
    
       8




---



##### Table of Contents



WESTERN DUBUQUE BIODIESEL, LLC
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2010
  NOTE 5  MEMBERS EQUITY
  NOTE 6  CASH FLOW DISCLOSURES
  Six Months Ended
    
    
    Six Months EndedJune 30, 2010
    
    
    June 30, 2009Cash paid for interest
    
    $
    568,129
    
    
    $
    493,000
 NOTE 7  RELATED PARTY TRANSACTIONS
       9




---



##### Table of Contents



WESTERN DUBUQUE BIODIESEL, LLC
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2010
    NOTE 8  COMMITMENTS AND CONTINGENCIES
   NOTE 9  FAIR VALUE OF FINANCIAL INSTRUMENTS
  
    
    Level 1Unadjusted quoted prices for identical assets and liabilities in active
markets;
    
    Level 2Quoted prices for similar assets and liabilities in active markets (other
than those included in Level 1) which are observable for the asset or liability, either
directly or indirectly; and
    
    Level 3Valuations derived from valuation techniques in which one or more
significant inputs or significant value drivers are unobservable.
  June 30, 2010 (unaudited)SignificantQuoted Prices in
    
    
    Other
    
    
    SignificantCarrying Amount
    
    
    Active Markets for
    
    
    Observable
    
    
    Unobservableon
    
    
    Identical Assets
    
    
    Inputs
    
    
    InputsBalance Sheet
    
    
    (Level 1)
    
    
    (Level 2)
    
    
    (Level 3)Financial assets:Commodity derivatives
    
    $
    69,779
    
    
    $
    69,779
    
    
    $
    
    
    
    $
    
  10




---



##### Table of Contents



WESTERN DUBUQUE BIODIESEL, LLC
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2010
 December 31, 2009SignificantQuoted Prices in
    
    
    Other
    
    
    SignificantCarrying Amount
    
    
    Active Markets for
    
    
    Observable
    
    
    Unobservableon
    
    
    Identical Assets
    
    
    Inputs
    
    
    InputsBalance Sheet
    
    
    (Level 1)
    
    
    (Level 2)
    
    
    (Level 3)Financial liabilities:Commodity derivatives
    
    $
    (5,737
    )
    
    $
    (5,737
    )
    
    $
    
    
    
    $
    
  NOTE 10  DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
 Derivatives and Hedging,
 Objectives and Strategies for Holding Derivative Instruments
  Commodity Risk Management
  Accounting for Derivative Instruments and Hedging Activities
   11




---



##### Table of Contents



WESTERN DUBUQUE BIODIESEL, LLC
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2010
  Asset Derivatives
    
    
    Liability DerivativesJune 30, 2010 (unaudited)
    
    
    December 31, 2009Balance Sheet
    
    
    
    
    
    
    Balance SheetLocation
    
    
    Fair Value
    
    
    Location

    
    Fair ValueCommodity
contracts 
Heat oil swaps
    
    Current assets
    
    $
    69,779
    
    
    Current liabilities
    
    $
    (5,737
    )
  Derivative (Gain) Loss
    
    
    Derivative (Gain) LossThree Months Ended
    
    
    Three Months EndedJune 30, 2010
    
    
    June 30, 2009Statement of
    
    
    
    
    
    
    Statement ofOperations Location
    
    
    (Gain) Loss
    
    
    Operations Location
    
    
    (Gain) LossCommodity
contracts 
Heat oil swaps
    
    Cost of sales
    
    $
    (524,603
    )
    
    Cost of sales
    
    $
    431,239
 Derivative (Gain) Loss
    
    
    Derivative (Gain) LossSix Months Ended
    
    
    Six Months EndedJune 30, 2010
    
    
    June 30, 2009Statement of
    
    
    
    
    
    
    Statement ofOperations Location
    
    
    (Gain) Loss
    
    
    Operations Location
    
    
    (Gain) LossCommodity
contracts 
Heat oil swaps
    
    Cost of sales
    
    $
    (355,692
    )
    
    Cost of sales
    
    $
    420,503
 NOTE 11  UNCERTAINTY
    12




---



##### Table of Contents



WESTERN DUBUQUE BIODIESEL, LLC
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2010
  NOTE 12  SUBSEQUENT EVENTS
    13




---



##### Table of Contents



Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations
  Cautionary Statements Regarding Forward-Looking Statements
  
    
    The failure of the federal government to reinstate the $1.00 per gallon biodiesel
blenders credit;
    
    Our ability to secure and retain service providers following the termination of our
Management and Operational Services Agreement (MOSA) with Renewable Energy Group, Inc.
(REG) on August 1, 2010;
    
    The availability and terms of credit or equity financing needed to continue operations
if our income from operations is insufficient for us to continue producing biodiesel;
    
    Our ability to generate free cash flow to invest in our business and service our debt;
    
    Our ability to comply with our loan covenants and our lenders response to our
noncompliance with such covenants;
    
    Our ability to market our products and our reliance on our marketer to market our
products;
    
    Fuel prices, diesel and biodiesel consumption and consumer attitudes regarding biodiesel
use;
    
    Prices of vegetable oils (particularly soybean oil), animal fats and other feedstock;
    
    Our ability to enter into toll manufacturing agreements or other arrangements that shift
responsibility for feedstock procurement and costs to other parties;
    
    The continued imposition of tariffs or other duties on biodiesel exported to Europe;
    
    Overcapacity within the biodiesel industry resulting in increased competition and costs
for feedstock and/or decreased prices for our biodiesel and glycerin;
    
    Changes in soy-based biodiesels qualification under the Renewable Fuel Standard (RFS)
and similar legislation;
    
    Decreased availability of soybean oil, animal fat or other feedstock;
    
    Our ability to locate alternative feedstock to respond to market conditions,
particularly since we lack the capability to pre-treat and process raw animal fats and
other crude vegetable oils at our plant;
    
    laws, tariffs, trade or other controls or enforcement practices such as: national, state
and local energy policy; federal biodiesel tax incentives; and environmental laws and
regulations;
    
    the biodiesel industrys ability to successfully lobby for legislation beneficial to the
biodiesel industry;
    
    Changes in plant production capacity or technical difficulties in operating the plant,
including changes due to events beyond our control or due to intentional reductions or
shutdowns;
  14




---



##### Table of Contents




    
    Changes and advances in biodiesel production technology, including our competitors
ability to process raw animal fats or other feedstock which we cannot process;
    
    Competition from alternative fuels; and
    
    Other factors described in this report.
  Overview
    Results of Operations for the Three Months Ended June 30, 2010
  Three Months Ended
    
    
    Three Months EndedJune 30, 2010
    
    
    June 30, 2009(Unaudited)
    
    
    (Unaudited)Income Statement Data
    
    Amount
    
    
    Percent
    
    
    Amount
    
    
    PercentRevenues
    
    $
    214,913
    
    
    
    100.00
    %
    
    $
    2,790,618
    
    
    
    100.00
    %Cost of Sales
    
    
    131,980
    
    
    
    61.41
    %
    
    
    2,285,461
    
    
    
    81.90
    %Gross Profit (loss)
    
    
    82,933
    
    
    
    38.59
    %
    
    
    505,157
    
    
    
    18.10
    %Operating Expenses
    
    
    122,683
    
    
    
    57.08
    %
    
    
    162,173
    
    
    
    5.81
    %Other (Expense)
    
    
    (360,868
    )
    
    
    167.91
    %
    
    
    (251,284
    )
    
    
    (9.00
    %)Net Income (Loss)
    
    $
    (400,618
    )
    
    
    186.41
    %
    
    $
    91,700
    
    
    
    3.29
    %
  15




---



##### Table of Contents



Revenues
     Cost of Sales
     16




---



##### Table of Contents



Operating Expenses
  Other Income (Expenses)
  Results of Operations for the Six Months Ended June 30, 2010
  Six Months Ended June 30, 2010
    
    
    Six Months Ended June 30, 2009(Unaudited)
    
    
    (Unaudited)Income Statement Data
    
    Amount
    
    
    Percent
    
    
    Amount
    
    
    PercentRevenues
    
    
    214,913
    
    
    
    100.00
    %
    
    $
    3,866,537
    
    
    
    100.00
    %Cost of Sales
    
    
    1,164,158
    
    
    
    541.69
    %
    
    
    4,110,077
    
    
    
    105.75
    %Gross Profit (Loss)
    
    
    (949,245
    )
    
    
    (441.69
    %)
    
    
    (243,540
    )
    
    
    (6.27
    %)Operating Expenses
    
    
    263,482
    
    
    
    122.60
    %
    
    
    295,377
    
    
    
    7.6
    %Other Income (Expense)
    
    
    (596,894
    )
    
    
    (277.74
    %)
    
    
    (480,350
    )
    
    
    (12.36
    %)Net Income (Loss)
    
    
    (1,809,621
    )
    
    
    (842.02
    %)
    
    
    (1,019,267
    )
    
    
    (26.23
    %)
 Revenues
  Cost of Sales
    17




---



##### Table of Contents



Operating Expenses
  Other Income (Expenses)
  Changes in Financial Condition for the Six Months Ended June 30, 2010
  June 30, 2010
    
    
    December 31, 2009Current Assets
    
    
    10,648,242
    
    
    $
    7,505,501Current Liabilities
    
    
    30,769,216
    
    
    $
    26,959,633Total Members Equity
    
    
    15,474,983
    
    
    $
    17,284,604
 Current Assets
  Current Liabilities
   Members Equity
  Plan of Operations for the Next 12 Months
 Plant Operations
   18




---



##### Table of Contents



Operating Budget and Financing of Plant Operations
   Critical Accounting Estimates
  Liquidity and Capital Resources
 Cash Flows
 Cash Flow from Operating Activities.
 Cash Flow from Investing Activities.
 Cash Flow from Financing Activities.
  19




---



##### Table of Contents



Sources of Funds
 Equity Financing.
 Debt Financing
        20




---



##### Table of Contents



Government Programs and Grants
  Distribution to Unit Holders
  Off-Balance Sheet Arrangements
  
 Item 3. Quantitative and Qualitative Disclosures about Market Risks
  Interest Rate Risk
  Outstanding Variable Rate Debt
    
    
    Interest Rate at
    
    
    Adverse 10% Change
    
    
    Annual Adverseat June 30, 2010
    
    
    June 30, 2010
    
    
    in Interest Rates
    
    
    Change to Income$
    24,940,905
    
    
    
    3.50
    %
    
    
    3.850
    %
    
    $
    85,853.28$
    5,658,500
    
    
    
    7.25
    %
    
    
    7.975
    %
    
    $
    41,024.12
 Commodity Price Risk
 Derivatives and Hedging
  21




---



##### Table of Contents



Effect ofHypotheticalAdverse Change Fair Value
    
    
    Market RiskJune 30, 2010
    
    $
    69,779
    
    
    $
    370,144December 31, 2009
    
    $
    (5,737
    )
    
    $
    23,525
 Item 4. Controls and Procedures
   
 PART II. OTHER INFORMATION
 
 Item 1. Legal Proceedings
   22




---



##### Table of Contents



Item 1A. Risk Factors
  There are doubts about our ability to continue as a going concern and if we cannot continue
our business, our units may have little or no value.
 Loss of or ineligibility for favorable tax benefits for biodiesel production could result in
the permanent shutdown of our plant.
 
 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
  
 Item 3. Defaults upon Senior Securities
  
 Item 4. (Removed and Reserved)
 
 Item 5. Other Information
    23




---



##### Table of Contents



Item 6. Exhibits
  Exhibit No.
    
    Description
    

Method
of Filing31.1
    
    Certificate pursuant to 17 CFR 240 13a-14(a)
    
    *31.2
    
    Certificate pursuant to 17 CFR 240 13a-14(a)
    
    *32.1
    
    Certificate pursuant to 18 U.S.C. Section 1350
    
    *32.2
    
    Certificate pursuant to 18 U.S.C. Section 1350
    
    *
 
 (*)
    
    Filed herewith. 
 SIGNATURES
  WESTERN DUBUQUE BIODIESEL, LLCDate:      August 16, 2010
    /s/ Bruce KlostermannBruce KlostermannVice Chairman and Director
(Principal Executive Officer)Date:      August 16, 2010
    /s/ George DavisGeorge DavisTreasurer and Director
(Principal Financial and Accounting Officer)  24