• Combine the uncooked oats and peanuts in a food processor and pulse until ground into a powder. Set aside.
• Cream together the margarine, peanut butter and sugars with an electric mixer until light and fluffy (this takes about 2 minutes)
• Beat in the egg white and vanilla extract
• In a separate bowl, combine the peanut/oat powder from step #1, the ground flax seed, the baking soda, baking powder and salt. Whisk together.
• Add the M&Ms to the peanut/oat mixture.
• Pour the wet ingredients, the peanut butter/sugar/egg mixture into the bowl with the dry ingredients. Stir with a spatula until a cookie dough comes together.
• I prefer to refrigerate the cookie dough for 2 hours before baking it.

Bake the cookies:

• Preheat the oven to 350 °F. Line 2 large baking trays with parchment paper.
• Roll teaspoon-sized balls of dough with your hands and arrange the dough balls on the prepared baking sheet. There's no need to flatten the dough balls, as they will spread out in the oven -- but be aware that they will spread in the oven! Leave plenty of room, about 9 to 12 cookies per baking sheet.
• Bake each sheet of cookies for about 12 minutes in the oven.
• Don't try to move the cookies right when they come out of the oven! They'll break! Let the cookies sit and cool on the baking sheet for about 5 minutes, then use a spatula to transfer the cookies to a cooling rack.