UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 
 FORM 10-KSB/A
 þ
    
    Annual report under Section 13 or 15(d) of the Securities Exchange Act of 1934.
 For the fiscal year ended September 30, 2008
 o
    
    Transition report under Section 13 or 15(d) of the Exchange Act.
 For the transition period from  to
 Commission file number 000-52428
 IOWA RENEWABLE ENERGY, LLC
  Iowa
    
    20-3386000(State or other jurisdiction of 
incorporation or organization)
    
    (I.R.S. Employer Identification No.)1701 East 7thStreet, Washington, Iowa
    
    52353(Address of principal executive offices)
    
    (Zip Code)
 (319) 653-2890
  None
  26,331
 þ Yes o No
 þ
 o þ
 $67,135,224
   o þ




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##### 



Explanatory Note Regarding Amendment No. 1




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##### 



ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE.
 Transactions with Related Persons
   Transactions with Promoters and Control Persons




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##### 



FEES
    
    
    
    
    
    
    
    
    
    
    NON-EQUITYEARNED
    
    
    
    
    
    
    OPTION
    
    
    INCENTIVE PLANOR PAID
    
    
    STOCK
    
    
    AWARDS
    
    
    COMPENSATION
    
    
    OTHERDIRECTOR
    
    IN CASH
    
    
    AWARDS
    
    
    (1)
    
    
    (2)
    
    
    COMPENSATION
    
    
    TOTALMichael BohannanInception through
Sept 30, 2006
    
    
    
    
    
    
    
    
    
    $
    51,455
    
    
    
    
    
    
    
    
    
    
    $
    51,455FYE Sept 30, 2007
    
    $
    3,000
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    298
    
    
    $
    3,298FYE Sept 30, 2008
    
    $
    12,000
    
    
    
    
    
    
    
    
    
    
    $
    1,500
    
    
    $
    1,175
    
    
    $
    14,675Oct 1, 2008 -
January 2009
    
    $
    4,000
    
    
    
    
    
    
    
    
    
    
    $
    1,500
    
    
    $
    195
    
    
    $
    5,695TOTAL
    
    $
    19,000
    
    
    
    
    
    
    $
    51,455
    
    
    $
    3,000
    
    
    $
    1,668
    (3)
    
    $
    75,123Mark CobbInception through
Sept 30, 2006
    
    
    
    
    
    
    
    
    
    $
    51,455
    
    
    
    
    
    
    
    
    
    
    $
    51,455FYE Sept 30, 2007
    
    $
    2,250
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    2,250FYE Sept 30, 2008
    
    $
    9,000
    
    
    
    
    
    
    
    
    
    
    $
    1,500
    
    
    
    
    
    
    $
    10,500Oct 1, 2008 -
January 2009
    
    $
    3,000
    
    
    
    
    
    
    
    
    
    
    $
    1,500
    
    
    
    
    
    
    $
    4,500TOTAL
    
    $
    14,250
    
    
    
    
    
    
    $
    51,455
    
    
    $
    3,000
    
    
    
    
    
    
    $
    68,705Richard GallagherInception through
Sept 30, 2006
    
    
    
    
    
    
    
    
    
    $
    51,455
    
    
    
    
    
    
    
    
    
    
    $
    51,455FYE Sept 30, 2007
    
    $
    1,500
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    1,500FYE Sept 30, 2008
    
    $
    6,000
    
    
    
    
    
    
    
    
    
    
    $
    1,500
    
    
    
    
    
    
    $
    7,500Oct 1, 2008 -
January 2009
    
    $
    2,000
    
    
    
    
    
    
    
    
    
    
    $
    1,500
    
    
    $
    903
    
    
    $
    4,403TOTAL
    
    $
    9,500
    
    
    
    
    
    
    $
    51,455
    
    
    $
    3,000
    
    
    $
    903
    (4)
    
    $
    64,858




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##### 



FEES
    
    
    
    
    
    
    
    
    
    
    NON-EQUITYEARNED
    
    
    
    
    
    
    OPTION
    
    
    INCENTIVE PLANOR PAID
    
    
    STOCK
    
    
    AWARDS
    
    
    COMPENSATION
    
    
    OTHERDIRECTOR
    
    IN CASH
    
    
    AWARDS
    
    
    (1)
    
    
    (2)
    
    
    COMPENSATION
    
    
    TOTALJ. William PimInception through
Sept 30, 2006
    
    
    
    
    
    
    
    
    
    $
    51,455
    (6)
    
    
    
    
    
    $
    925
    
    
    $
    52,380FYE Sept 30, 2007
    
    $
    1,500
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    77
    
    
    $
    1,577FYE Sept 30, 2008
    
    $
    10,075
    (5)
    
    
    
    
    
    
    
    
    
    $
    1,500
    
    
    $
    492
    
    
    $
    12,067Oct 1, 2008 -
January 2009
    
    $
    2,000
    
    
    
    
    
    
    
    
    
    
    $
    1,500
    
    
    $
    281
    
    
    $
    3,781TOTAL
    
    $
    13,575
    
    
    
    
    
    
    $
    51,455
    
    
    $
    3,000
    
    
    $
    1,775
    (7)
    
    $
    69,805Warren BushInception through
Sept 30, 2006
    
    
    
    
    
    $
    50,000
    
    
    $
    51,455
    
    
    
    
    
    
    $
    5,010
    
    
    $
    106,465FYE Sept 30, 2007
    
    $
    2,250
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    480
    
    
    $
    2,730FYE Sept 30, 2008
    
    $
    9,000
    
    
    
    
    
    
    
    
    
    
    $
    1,500
    
    
    $
    667
    
    
    $
    11,167Oct 1, 2008 -
January 2009
    
    $
    3,000
    
    
    
    
    
    
    
    
    
    
    $
    1,500
    
    
    
    
    
    
    $
    4,500TOTAL
    
    $
    14,250
    
    
    $
    50,000
    
    
    $
    51,455
    
    
    $
    3,000
    
    
    $
    6,157
    (8)
    
    $
    124,862Bill HoranInception through
Sept 30, 2006
    
    
    
    
    
    $
    50,000
    
    
    $
    51,455
    
    
    
    
    
    
    
    
    
    
    $
    101,455FYE Sept 30, 2007
    
    $
    1,500
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    1,500FYE Sept 30, 2008
    
    $
    6,000
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    6,000Oct 1, 2008 -
January 2009
    
    $
    2,000
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    808
    
    
    $
    2,808TOTAL
    
    $
    9,500
    
    
    $
    50,000
    
    
    $
    51,455
    
    
    
    
    
    
    $
    808
    (9)
    
    $
    111,763Ed HershbergerInception through
Sept 30, 2006
    
    
    
    
    
    
    
    
    
    $
    51,455
    
    
    
    
    
    
    
    
    
    
    $
    51,455FYE Sept 30, 2007
    
    $
    2,250
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    2,250FYE Sept 30, 2008
    
    $
    9,000
    
    
    
    
    
    
    
    
    
    
    $
    1,500
    
    
    
    
    
    
    $
    10,500Oct 1, 2008 -
January 2009
    
    $
    3,000
    
    
    
    
    
    
    
    
    
    
    $
    1,500
    
    
    
    
    
    
    $
    4,500TOTAL
    
    $
    14,250
    
    
    
    
    
    
    $
    51,455
    
    
    $
    3,000
    
    
    
    
    
    
    $
    68,705Denny MauserInception through
Sept 30, 2006
    
    
    
    
    
    $
    50,000
    
    
    $
    51,455
    
    
    
    
    
    
    $
    272
    
    
    $
    101,727FYE Sept 30, 2007
    
    $
    1,500
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    492
    
    
    $
    1,992FYE Sept 30, 2008
    
    $
    6,000
    
    
    
    
    
    
    
    
    
    
    $
    1,500
    
    
    $
    806
    
    
    $
    8,306Oct 1, 2008 -
January 2009
    
    $
    2,000
    
    
    
    
    
    
    
    
    
    
    $
    1,500
    
    
    
    
    
    
    $
    3,500TOTAL
    
    $
    9,500
    
    
    $
    50,000
    
    
    $
    51,455
    
    
    $
    3,000
    
    
    $
    1,570
    (10)
    
    $
    115,525John HeisdorfferInception through
Sept 30, 2006
    
    
    
    
    
    
    
    
    
    $
    51,455
    
    
    
    
    
    
    $
    901
    
    
    $
    52,356FYE Sept 30, 2007
    
    $
    1,500
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    1,500FYE Sept 30, 2008
    
    $
    6,000
    
    
    
    
    
    
    
    
    
    
    $
    1,500
    
    
    $
    6,117
    
    
    $
    13,617Oct 1, 2008 -
January 2009
    
    $
    2,000
    
    
    
    
    
    
    
    
    
    
    $
    1,500
    
    
    
    
    
    
    $
    3,500TOTAL
    
    $
    9,500
    
    
    
    
    
    
    $
    51,455
    
    
    $
    3,000
    
    
    $
    7,018
    (11)
    
    $
    70,973




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##### 



FEES
    
    
    
    
    
    
    
    
    
    
    NON-EQUITYEARNED
    
    
    
    
    
    
    OPTION
    
    
    INCENTIVE PLANOR PAID
    
    
    STOCK
    
    
    AWARDS
    
    
    COMPENSATION
    
    
    OTHERDIRECTOR
    
    IN CASH
    
    
    AWARDS
    
    
    (1)
    
    
    (2)
    
    
    COMPENSATION
    
    
    TOTALJimmie HanshawInception through
Sept 30, 2006
    
    
    
    
    
    
    
    
    
    $
    51,455
    
    
    
    
    
    
    
    
    
    
    $
    51,455FYE Sept 30, 2007
    
    $
    1,500
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    1,500FYE Sept 30, 2008
    
    $
    3,000
    
    
    
    
    
    
    
    
    
    
    $
    1,500
    
    
    
    
    
    
    $
    4,500Oct 1, 2008 -
January 2009
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    1,500
    
    
    
    
    
    
    $
    1,500TOTAL
    
    $
    4,500
    
    
    
    
    
    
    $
    51,455
    
    
    $
    3,000
    
    
    
    
    
    
    $
    58,955Mark MuenchInception through
Sept 30, 2006
    
    
    
    
    
    $
    50,000
    
    
    $
    51,455
    
    
    
    
    
    
    
    
    
    
    $
    101,455FYE Sept 30, 2007
    
    $
    1,500
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    1,500FYE Sept 30, 2008
    
    $
    3,000
    
    
    
    
    
    
    
    
    
    
    $
    1,500
    
    
    
    
    
    
    $
    4,500Oct 1, 2008 -
January 2009
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    1,500
    
    
    
    
    
    
    $
    1,500TOTAL
    
    $
    4,500
    
    
    $
    50,000
    
    
    $
    51,455
    
    
    $
    3,000
    
    
    
    
    
    
    $
    108,955Tom SchroederInception through
Sept 30, 2006
    
    
    
    
    
    $
    50,000
    
    
    $
    51,455
    
    
    
    
    
    
    
    
    
    
    $
    101,455FYE Sept 30, 2007
    
    $
    1,500
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    1,500FYE Sept 30, 2008
    
    $
    3,000
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    3,000Oct 1, 2008 -
January 2009
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    TOTAL
    
    $
    4,500
    
    
    $
    50,000
    
    
    $
    51,455
    
    
    
    
    
    
    
    
    
    
    $
    105,955
 (1)
    
    In accordance with FAS 123R, the value of the options were computed to be $514.55 per unit
based upon the minimum valuation method using a discount rate of 4.5% for 8 months.(2)
    
    Annual bonus, based on director compensation plan, was paid in January 2008 and January 2009.(3)
    
    This amount includes $1,338 paid in mileage and $330 for meal and travel related expenses paid
to Mr. Bohannan.(4)
    
    Mileage reimbursement to Mr. Gallagher.(5)
    
    This amount includes $4,075 that was paid to Mr. Pim for services during the time he was our
Chief Financial Officer.(6)
    
    For stock options, compensation is considered to be paid at the time the option is granted.
Mr. Pim was granted this option, however, it expired unexercised.(7)
    
    This amount includes $773 in mileage reimbursement, and $1,002 in meal and travel related
expenses reimbursed to Mr. Pim.(8)
    
    Mr. Bush billed us $5,010 for legal services he provided us prior to our fiscal year beginning
October 1, 2006. We have not paid Mr. Bush for his legal services. The remaining amount includes
$667 in mileage reimbursement, and $492 in meal and travel related expenses reimbursed.(9)
    
    Mileage reimbursement to Mr. Horan.(10)
    
    This amount includes $1,077 for mileage reimbursement, and $493 in reimbursement of meals and
travel related expenses to Mr. Mauser.(11)
    
    This amount includes $6,406 for mileage reimbursement, and $612 in reimbursement of meals and
travel related expenses to Mr. Heisdorffer. Director Independence




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##### 



Audit Committee
     Nominating Committee
  
    
    Develop a nomination process for candidates to the Board of Directors;
    
    Establish criteria and qualifications for membership to the Board of Directors;
    
    Identify and evaluate potential director nominees;
    
    Fill vacancies on the Board of Directors; and
    
    Recommend nominees for election or re-election.




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Compensation Committee
  ITEM 13. EXHIBITS.
  Exhibit
    
    
    
    Method ofNo.
    
    Description
    
    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
  IOWA RENEWABLE ENERGY, LLCDate: September 9, 2009
    
    /s/ Mike Bohannan

Mike BohannanChairman and PresidentDate: September 9, 2009
    
    /s/ Todd Willson

Todd WillsonChief Financial Officer




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##### 



Date: September 9, 2009
    
    /s/ Mike Bohannan

Mike BohannanChairman and PresidentDate: September 9, 2009
    
    /s/ Mark Cobb

Mark CobbVice Chairman and DirectorDate: September 9, 2009
    
    /s/ Dick Gallagher

Dick GallagherSecretary and DirectorDate: September 9, 2009
    
    /s/ Warren L. Bush

Warren L. Bush, DirectorDate: September 9, 2009
    
    /s/ William J. Horan

William J. Horan, DirectorDate: September 9, 2009
    
    /s/ Edwin J. Hershberger

Edwin J. Hershberger, DirectorDate: September 9, 2009
    
    /s/ John Heisdorffer

John Heisdorffer, DirectorDate: September 9, 2009
    
    /s/ William J. Pim

William J. Pim, Director




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##### 



EXHIBIT INDEX
 ExhibitNo.
    
    Description31.1
    
    
    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 135032.2
    
    
    Certificate pursuant to 18 U.S.C. Section 1350