Exhibit 4.1

                         COMMON STOCK PURCHASE WARRANTS

                       GREEN PLAINS RENEWABLE ENERGY, INC.

                Incorporated Under the Laws of the State of Iowa

No. - _________                                           _________ Common Stock
                                                               Purchase Warrants


                          CERTIFICATE FOR COMMON STOCK
                                PURCHASE WARRANTS


         GREEN PLAINS RENEWABLE ENERGY, INC., a Iowa corporation (the
"Company"), for value received, hereby certifies that ___________________, or
registered assigns (the "Holder"), is the registered owner of the above
indicated number of Warrants. One (1) Warrant entitles the Holder to purchase
1/4 of a share of the Company's common stock, $.001 par value (the "Common
Stock"). The Common Stock issuable upon an exercise of this Warrant is sometimes
herein referred to as the "Warrant Stock" and the shares of such Warrant Stock
are sometimes herein referred to as the "Warrant Shares."


         1. Purchase Price. The purchase price (the "Exercise Price") per share
for the Warrant Stock shall be $30.00 per share, subject to adjustment
hereunder, tendered to the Company as provided in Section 3 hereof.

         2. Rights to Exercise. The Holder shall have the right (but not the
obligation) to exercise the Warrant, in whole in or in part, to receive the
Warrant Stock, subject to adjustment hereunder, at any time on or before
December 31, 2007 (the "Exercise Period").


         3. Manner of Exercise. In order to exercise this Warrant, the Holder
shall surrender this Warrant certificate at the office of the Company, as set
forth below, or at such other address within the State of Iowa as the Company
shall designate in writing, together with a duly executed exercise form in the
form attached hereto and simultaneous payment in full (in cash or by certified
or official bank or bank cashier's check payable to the order of the Company or
by offset of obligations then owed by the Company to the Holder) of the purchase
price for the Warrant Stock. Fractional shares will not be issued upon the
exercise of Warrants, and no payment will be made with respect to any fractional
share of common stock to which any warrant holder might otherwise be entitled
upon exercise of Warrants.


         Upon surrender of this Warrant certificate in conformity with the
foregoing provisions, the Company shall promptly deliver to or upon the written
order of the Holder a stock certificate or certificates representing the Warrant
Stock.

         4. Adjustments upon Certain Events.

                  4.1 Stock Splits, Stock Combinations and Certain Stock
Dividends. If the Company shall at any time subdivide or combine its outstanding
Common Stock, or declare a dividend in Common Stock or other securities of the
Company convertible into or exchangeable for Common Stock, a Warrant shall,
after such subdivision or combination or after the record date for such
dividend, be exercisable for that number of shares of Common Stock and other
securities of the Company that the Holder would have owned immediately after
such event with respect to the Common Stock and other securities for which a
Warrant may have been exercised immediately before such event had the Warrant
been exercised immediately before such event. Any adjustment under this Section
4.1 shall become effective at the close of business on the date the subdivision,
combination or dividend becomes effective.

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                  4.2 Adjustment for Reorganization, Consolidation, Merger. In
case of any reorganization of the Company (or any other corporation the stock or
other securities of which are at the time receivable upon exercise of a Warrant)
or in case the Company (or any such other corporation) shall merge into or with
or consolidate with another corporation or convey all or substantially all of
its assets to another corporation or enter into a business combination of any
form as a result of which the Common Stock or other securities receivable upon
exercise of a Warrant are converted into other stock or securities of the same
or another corporation, then and in each such case, the Holder of a Warrant,
upon exercise of the purchase right at any time after the consummation of such
reorganization, consolidation, merger, conveyance or combination, shall be
entitled to receive, in lieu of the shares of Common Stock or other securities
to which such Holder would have been entitled had he exercised the purchase
right immediately prior thereto, such stock and securities which such Holder
would have owned immediately after such event with respect to the shares Common
Stock and other securities for which a Warrant may have been exercised
immediately before such event had the Warrant been exercised immediately prior
to such event.

                  4.3 Notice. In each case of an adjustment in the Common Stock
or other securities receivable upon the exercise of a Warrant, the Company shall
promptly notify the Holder of such adjustment. Such notice shall set forth the
facts upon which such adjustment is based.

         5. Loss, Theft, Destruction, or Mutilation. Upon receipt by the Company
of evidence reasonably satisfactory to it of the ownership of and the loss,
theft, destruction or mutilation of this Warrant and (in the case of loss,
theft, or destruction) of indemnity satisfactory to it (in the exercise of its
reasonable discretion), and (in the case of mutilation) upon surrender and
cancellation thereof, the Company will execute and deliver, in lieu thereof, a
new Warrant in the same form and tenor.

         6. Reservation of Shares Issuable on Exercise of Warrant. The Company
will at all times reserve and keep available out of its authorized shares,
solely for issuance upon the exercise of the Warrant, such shares of its Common
Stock and other securities as from time to time shall be issuable upon the
exercise of the Warrant.

         7. Miscellaneous.

                  7.1 Governing Law. This Warrant shall be construed in
accordance with, and governed by the substantive laws of, the State of Iowa.

                  7.2 Assignment. The benefit of this Warrant and of the Warrant
Stock represented hereby may be assigned and transferred by the Holder and its
assigns in accordance with any applicable securities laws and regulations;
however, the obligations of the Company and its successors may not be delegated
without the prior written consent of the Holder hereof. Subject to the
foregoing, this Warrant shall be binding upon and inure to the benefit of the
parties and their respective legal representatives, successors, agents, heirs
and assigns.

                  7.3 Enforcement. In the event of a dispute between the parties
arising under this Warrant, the party prevailing in such dispute shall be
entitled to collect such party's costs and expenses from the other party,
including without limitation court costs and reasonable attorneys' fees.

                  7.4 Notices. All notices, requests, consents and demands shall
be given to the Company at 9635 Irvine Bay Court, Las Vegas, NV 89147, and to
the Holder at the address shown on the records of the Company as provided by the
Holder. All notices, requests, consents and demands shall be given or made by
personal delivery, by confirmed air courier, by telecopy or by certified first
class mail, return receipt requested, postage prepaid, to the party addressed as
aforesaid. If sent by confirmed air courier, such notice shall be deemed to be
given on the earlier to occur of the date actually received by the addressee or
the business day on which delivery is made at such address as confirmed by the
air courier. If mailed, such notice shall be deemed to be given on the earlier
to occur of the date actually received by the addressee or the third business
day following the date upon which it is deposited in a first-class
postage-prepaid envelope in the United States mail addressed to such party's
business address. If given by telecopy, such notice shall be deemed to be given
on the business day actually received by the addressee.

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<PAGE>

                  7.5 Payment of Taxes. The Holder shall pay all documentary,
stamp or similar taxes and other government charges that may be imposed with
respect to the issuance, transfer or delivery of any Warrant Stock on exercise
of the Warrants. In the event the Warrant Stock are to be delivered in a name
other than the name of the Holder of the Warrant Certificate, no such delivery
shall be made unless the person requesting the same has paid the amount of any
such taxes or charges incident thereto.

                  7.6 Reduction in Exercise Price at Company's Option. The
Company's Board of Directors may, at its sole discretion, reduce the Exercise
Price of the Warrants in effect at any time either for the life of the Warrants
or any shorter period of time determined by the Company's Board of Directors.
The Company shall promptly notify the Registered Holders of any such reduction
in the Exercise Price.

         IN WITNESS WHEREOF, the Company has caused this Warrant to be duly
executed as of the ____ day of ________________, 2005.


                                            GREEN PLAINS RENEWABLE ENERGY, INC.,
                                            a Iowa corporation



                                            By: ________________________________
                                            Its: President

                                       3
<PAGE>

                       GREEN PLAINS RENEWABLE ENERGY, INC.

The following abbreviations, when used in the inscription on the face of this
instrument, shall be construed as though they were written out in full according
to applicable laws or regulations:

         TEN COM - as tenants in common
         TEN ENT - as tenants by the entireties
         JR TEN - as joint tenants with right of survivorship and not as tenants
                  in common
         UNIF TRANS MIN ACT - ____________ (Custodian for Minor) as custodian
         for __________ (name of minor) under the Uniform Transfers to Minors
         Act

Additional abbreviations may also be used though not in the above list.

                               FORM OF ASSIGNMENT

              (To be Executed by the Registered Holder if He or She
                   Desires to Assign Warrants Evidenced by the
                           Within Warrant Certificate)

         FOR VALUE RECEIVED ___________________________ hereby sells, assigns
and transfers unto _____________________________ _________________________
(_______) Warrants, evidenced by the within Warrant Certificate, and does hereby
irrevocably constitute and appoint _______________________________________
Attorney to transfer the said Warrants evidenced by the within Warrant
Certificates on the books of the Company, with full power of substitution.


Dated:____________________                         _____________________________
                                                              Signature

Notice:  The above signature must correspond with the name as written upon the
         face of the Warrant Certificate in every particular, without alteration
         or enlargement or any change whatsoever.

Signature Guaranteed: __________________________________________


SIGNATURE MUST BE GUARANTEED BY A COMMERCIAL BANK OR MEMBER FIRM OF ONE OF THE
FOLLOWING STOCK EXCHANGES: NEW YORK STOCK EXCHANGE, PACIFIC COAST STOCK
EXCHANGE, AMERICAN STOCK EXCHANGE, OR MIDWEST STOCK EXCHANGE.

<PAGE>

                          FORM OF ELECTION TO PURCHASE

           (To be Executed by the Holder if Holder Desires to Exercise
                 Warrants Evidenced by the Warrant Certificate)

To Green Plains Renewable Energy, Inc.

         The undersigned hereby irrevocably elects to exercise
___________________________ (______) Warrants, evidenced by the within Warrant
Certificate for, and to purchase thereunder, ____________________________
(______) full shares of Common Stock issuable upon exercise of said Warrants and
delivery of $_________ and any applicable taxes.

         The undersigned requests that certificates for such shares be issued in
the name of:

PLEASE INSERT SOCIAL SECURITY OR TAX IDENTIFICATION NUMBER



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                         (Please print name and address)

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         If said number of Warrants shall not be all the Warrants evidenced by
the within Warrant Certificate, the undersigned requests that a new Warrant
Certificate evidencing the Warrants not so exercised be issued in the name of
and delivered to:


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                         (Please print name and address)

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Dated: _____________________                Signature:__________________________

NOTICE:  The above signature must correspond with the name as written upon the
         face of the within Warrant Certificate in every particular, without
         alteration or enlargement or any change whatsoever, or if signed by any
         other person the Form of Assignment hereon must be duly executed and if
         the certificate representing the shares or any Warrant Certificate
         representing Warrants not exercised is to be registered in a name other
         than that in which the within Warrant Certificate is registered, the
         signature of the holder hereof must be guaranteed.


Signature Guaranteed: ___________________________________________


SIGNATURE MUST BE GUARANTEED BY A COMMERCIAL BANK OR MEMBER FIRM OF ONE OF THE
FOLLOWING STOCK EXCHANGES: NEW YORK STOCK EXCHANGE, PACIFIC COAST STOCK
EXCHANGE, AMERICAN STOCK EXCHANGE, OR MIDWEST STOCK EXCHANGE.