Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2020 | Oct. 30, 2020 | |
Document Information [Line Items] | ||
Entity Registrant Name | Gevo, Inc. | |
Entity Central Index Key | 0001392380 | |
Trading Symbol | gevo | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 119,628,203 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Stock, par value $0.01 per share |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | |
Current assets: | |||
Cash and cash equivalents | $ 80,621 | $ 16,302 | |
Accounts receivable | 370 | 1,135 | |
Inventories | 2,551 | 3,201 | |
Prepaid expenses and other current assets | 4,614 | 3,590 | |
Total current assets | 88,156 | 24,228 | |
Property, plant and equipment, net | 63,324 | 66,696 | |
Investment in Juhl | 1,500 | 1,500 | |
Deposits and other assets | 507 | 935 | |
Total assets | [1] | 153,487 | 93,359 |
Current liabilities: | |||
Accounts payable and accrued liabilities | 4,904 | 5,678 | |
2020/21 Notes embedded derivative liability | 29 | ||
Loans payable - other (current) | 704 | 516 | |
Total current liabilities | 18,143 | 20,094 | |
Loans payable - other (long-term) | 583 | 233 | |
Other long-term liabilities | 172 | 528 | |
Total liabilities | 18,898 | 20,855 | |
Commitments and Contingencies (see Note 12) | |||
Stockholders' Equity | |||
Common stock, $0.01 par value per share; 250,000,000 authorized; 119,578,203 and 14,083,232 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively. | 1,196 | 141 | |
Additional paid-in capital | 613,511 | 530,349 | |
Accumulated deficit | (480,118) | (457,986) | |
Total stockholders' equity | 134,589 | 72,504 | |
Total liabilities and stockholders' equity | 153,487 | 93,359 | |
Convertible 2020/21 Notes [Member] | |||
Current liabilities: | |||
Notes (current), net | $ 12,506 | ||
Convertible 2020 Notes [Member] | |||
Current liabilities: | |||
Notes (current), net | $ 13,900 | ||
[1] | All other significant non-cash items relate to the activities of Gevo. |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2020 | Dec. 31, 2019 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 250,000,000 | 250,000,000 |
Common stock shares issued (in shares) | 119,578,203 | 14,083,232 |
Common stock, shares outstanding (in shares) | 119,578,203 | 14,083,232 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Revenue and cost of goods sold | ||||
Revenue from contract with Customer | $ 192 | $ 6,104 | $ 5,005 | $ 17,565 |
Other revenue | 70 | 6 | 116 | 34 |
Total revenues | 192 | 6,110 | 5,005 | 17,599 |
Cost of goods sold | 2,260 | 9,893 | 13,043 | 27,306 |
Gross loss | (2,068) | (3,783) | (8,038) | (9,707) |
Operating expenses: | ||||
Research and development expense | 870 | 1,789 | 2,127 | 3,712 |
Selling, general and administrative expense | 3,215 | 2,431 | 8,917 | 6,705 |
Restructuring expenses | (50) | 254 | ||
Total operating expenses | 4,035 | 4,220 | 11,298 | 10,417 |
Loss from operations | (6,103) | (8,003) | (19,336) | (20,124) |
Other income (expense): | ||||
Interest expense | (473) | (605) | (1,559) | (2,127) |
(Loss) on modification of 2020 Notes | (726) | |||
(Loss) on conversion of 2020/21 Notes to common stock | (543) | (543) | ||
(Loss) gain from change in fair value of derivative warrant liability | (2) | 8 | 1 | |
Gain (loss) from change in fair value of 2020/21 Notes and 2020 Notes embedded derivative liability | 247 | (29) | 394 | |
Other income (expense) | 36 | (9) | 53 | 11 |
Total other income (expense), net | (733) | (616) | (2,796) | (1,721) |
Net loss | $ (6,836) | $ (8,619) | $ (22,132) | $ (21,845) |
Net loss per share - basic and diluted (in dollars per share) | $ (0.09) | $ (0.66) | $ (0.62) | $ (1.87) |
Weighted-average number of common shares outstanding - basic and diluted (in shares) | 77,049,896 | 12,968,265 | 35,682,794 | 11,679,530 |
Ethanol Sales and Related Products [Member] | ||||
Revenue and cost of goods sold | ||||
Revenue from contract with Customer | $ 21 | $ 5,554 | $ 3,804 | $ 16,184 |
Total revenues | 21 | 5,554 | 3,804 | 16,184 |
Hydrocarbon [Member] | ||||
Revenue and cost of goods sold | ||||
Revenue from contract with Customer | 101 | 550 | 1,085 | 1,381 |
Total revenues | $ 101 | $ 550 | $ 1,085 | $ 1,381 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Total |
Balance | $ 86 | $ 518,027 | $ (429,326) | $ 88,787 |
Balance (in shares) at Dec. 31, 2018 | 8,640,583 | |||
Balance at Dec. 31, 2018 | $ 86 | 518,027 | (429,326) | 88,787 |
Issuance of common stock, net of issue costs (in shares) | 3,244,941 | |||
Issuance of common stock, net of issue costs | $ 33 | 9,611 | 9,644 | |
Non-cash stock-based compensation | 234 | 234 | ||
Net loss | (6,136) | (6,136) | ||
Balance (in shares) at Mar. 31, 2019 | 11,885,524 | |||
Balance | $ 119 | 527,872 | (435,462) | 92,529 |
Balance at Mar. 31, 2019 | $ 119 | 527,872 | (435,462) | 92,529 |
Balance (in shares) at Dec. 31, 2018 | 8,640,583 | |||
Balance at Dec. 31, 2018 | $ 86 | 518,027 | (429,326) | 88,787 |
Net loss | (21,845) | |||
Balance (in shares) at Sep. 30, 2019 | 13,369,001 | |||
Balance | $ 133 | 527,958 | (451,171) | 76,920 |
Balance at Sep. 30, 2019 | 133 | 527,958 | (451,171) | 76,920 |
Balance | $ 119 | 527,872 | (435,462) | 92,529 |
Balance (in shares) at Mar. 31, 2019 | 11,885,524 | |||
Balance at Mar. 31, 2019 | $ 119 | 527,872 | (435,462) | 92,529 |
Issuance of common stock, net of issue costs | (14) | (14) | ||
Non-cash stock-based compensation | 172 | 172 | ||
Net loss | (7,090) | (7,090) | ||
Balance (in shares) at Jun. 30, 2019 | 11,885,524 | |||
Balance | $ 119 | 528,030 | (442,552) | 85,597 |
Balance at Jun. 30, 2019 | 119 | 528,030 | (442,552) | 85,597 |
Balance | 119 | 528,030 | (442,552) | 85,597 |
Issuance of common stock, net of issue costs | (161) | (161) | ||
Non-cash stock-based compensation | 304 | 304 | ||
Issuance of common stock under stock plans, net of taxes (in shares) | 1,483,477 | |||
Issuance of common stock under stock plans, net of taxes | $ 14 | (215) | (201) | |
Net loss | (8,619) | (8,619) | ||
Balance (in shares) at Sep. 30, 2019 | 13,369,001 | |||
Balance | $ 133 | 527,958 | (451,171) | 76,920 |
Balance at Sep. 30, 2019 | 133 | 527,958 | (451,171) | 76,920 |
Balance | 133 | 527,958 | (451,171) | 76,920 |
Balance | $ 141 | 530,349 | (457,986) | 72,504 |
Balance (in shares) at Dec. 31, 2019 | 14,083,232 | |||
Balance at Dec. 31, 2019 | $ 141 | 530,349 | (457,986) | 72,504 |
Issuance of common stock, net of issue costs (in shares) | 425,776 | |||
Issuance of common stock, net of issue costs | $ 4 | 902 | 906 | |
Non-cash stock-based compensation | 336 | 336 | ||
Issuance of common stock under stock plans, net of taxes (in shares) | 105,882 | |||
Issuance of common stock under stock plans, net of taxes | ||||
Net loss | (9,253) | (9,253) | ||
Balance (in shares) at Mar. 31, 2020 | 14,614,890 | |||
Balance | $ 145 | 531,587 | (467,239) | 64,493 |
Balance at Mar. 31, 2020 | $ 145 | 531,587 | (467,239) | 64,493 |
Balance (in shares) at Dec. 31, 2019 | 14,083,232 | |||
Balance at Dec. 31, 2019 | $ 141 | 530,349 | (457,986) | 72,504 |
Net loss | $ (22,132) | |||
Issuance of common stock upon exercise of warrants (in shares) | 52,953,400 | |||
Balance (in shares) at Sep. 30, 2020 | 119,578,203 | |||
Balance | $ 1,196 | 613,511 | (480,118) | $ 72,504 |
Balance at Sep. 30, 2020 | 1,196 | 613,511 | (480,118) | 134,589 |
Balance | $ 145 | 531,587 | (467,239) | 64,493 |
Balance (in shares) at Mar. 31, 2020 | 14,614,890 | |||
Balance at Mar. 31, 2020 | $ 145 | 531,587 | (467,239) | 64,493 |
Issuance of common stock, net of issue costs (in shares) | 917,345 | |||
Issuance of common stock, net of issue costs | $ 9 | 1,238 | 1,247 | |
Non-cash stock-based compensation | 497 | 497 | ||
Issuance of common stock under stock plans, net of taxes (in shares) | (18,137) | |||
Issuance of common stock under stock plans, net of taxes | (307) | (307) | ||
Net loss | (6,043) | (6,043) | ||
Balance (in shares) at Jun. 30, 2020 | 15,514,098 | |||
Balance | $ 154 | 533,015 | (473,282) | 59,887 |
Balance at Jun. 30, 2020 | 154 | 533,015 | (473,282) | 59,887 |
Balance | 154 | 533,015 | (473,282) | 59,887 |
Non-cash stock-based compensation | 642 | 642 | ||
Issuance of common stock under stock plans, net of taxes (in shares) | 4,066,862 | |||
Issuance of common stock under stock plans, net of taxes | $ 41 | (62) | (21) | |
Net loss | (6,836) | (6,836) | ||
Issuance of common stock and common stock warrants, net of issue costs (in shares) | 42,772,687 | |||
Issuance of common stock and common stock warrants, net of issue costs | $ 428 | 61,265 | 61,693 | |
Issuance of common stock upon exercise of warrants (in shares) | 52,953,400 | |||
Issuance of common stock upon exercise of warrants | $ 530 | 16,117 | 16,647 | |
Issuance of common stock upon conversion of 2020/21 Notes (in shares) | 4,169,426 | |||
Issuance of common stock upon conversion of 2020/21 Notes | $ 42 | 2,441 | 2,483 | |
Issuance of common stock in exchange for services rendered (in shares) | 101,730 | |||
Issuance of common stock in exchange for services rendered | $ 1 | 93 | 94 | |
Balance (in shares) at Sep. 30, 2020 | 119,578,203 | |||
Balance | $ 1,196 | 613,511 | (480,118) | 59,887 |
Balance at Sep. 30, 2020 | 1,196 | 613,511 | (480,118) | 134,589 |
Balance | $ 1,196 | $ 613,511 | $ (480,118) | $ 134,589 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Operating Activities | ||
Net loss | $ (22,132) | $ (21,845) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
(Gain) from change in fair value of derivative warrant liability | (8) | (1) |
Loss (gain) from change in fair value of 2020/21 Notes and 2020 Notes embedded derivative liability | 29 | (394) |
Loss on conversion of 2020/21 Notes to common stock | 543 | |
Loss (gain) on retirement of property, plant and equipment | 38 | (19) |
Stock-based compensation | 1,347 | 938 |
Depreciation and amortization | 4,754 | 4,849 |
Non-cash lease expense | 45 | 25 |
Non-cash interest expense | 606 | 1,089 |
Other non-cash expense | 1 | |
Changes in operating assets and liabilities: | ||
Accounts receivable | 765 | 148 |
Inventories | 650 | 204 |
Prepaid expenses and other current assets, deposits and other assets | (613) | (23) |
Accounts payable, accrued expenses and long-term liabilities | (605) | 230 |
Net cash used in operating activities | (14,581) | (14,798) |
Investing Activities | ||
Acquisitions of property, plant and equipment | (1,756) | (5,779) |
Proceeds from sale of property, plant and equipment | 19 | |
Investment in Juhl | (1,500) | |
Net cash used in investing activities | (1,756) | (7,260) |
Financing Activities | ||
Proceeds from SBA loans | 1,006 | |
Debt and equity offering costs | (6,170) | (178) |
Proceeds from issuance of common stock and common stock warrants | 69,985 | 9,647 |
Proceeds from exercise of warrants | 16,647 | |
Net settlement of common stock under stock plans | (331) | (201) |
Payment of loans payable - other | (481) | |
Net cash provided by financing activities | 80,656 | 9,268 |
Net increase (decrease) in cash and cash equivalents | 64,319 | (12,790) |
us-gaap_CashAndCashEquivalentsAbstract | ||
Beginning of period | 16,302 | 33,734 |
End of period | 80,621 | 20,944 |
Supplemental disclosures of cash and non-cash investing and financing transactions | ||
Cash paid for interest | 953 | 1,038 |
Non-cash purchase of property, plant and equipment | 2 | 41 |
Issuance of common stock upon exchange of debt and make-whole | 2,517 | |
Issuance of common stock in exchange for services rendered | 94 | |
Original issue discount paid with 2020/21 Notes | 282 | |
Right-of-use asset purchased with financing lease | $ 13 |
Note 1 - Nature of Business, Fi
Note 1 - Nature of Business, Financial Condition and Basis of Presentation | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | 1. Nature of Business, Financial Condition and Basis of Presentation Nature of Business zero Gevo uses low-carbon, renewable resource-based raw materials as feedstock. In the near-term, Gevo's feedstocks will primarily consist of non-food corn. As Gevo's technology is applied globally, feedstocks can consist of sugar cane, molasses or other cellulosic sugars derived from wood, agricultural residues and waste. Gevo's patented fermentation yeast biocatalyst produces isobutanol, a four Ultimately, the Company believes that the attainment of profitable operations is dependent upon future events, including (i) completing certain capital improvements at the Company's production facility located in Luverne, Minnesota (the "Luverne Facility") to increase the production capacity of renewable gasoline and jet fuel and other related products that can be made from isobutanol; (ii) completing the Company's development activities resulting in commercial production and sales of renewable hydrocarbon products; (iii) obtaining adequate financing to complete the Company's development activities, including the build out of isobutanol and renewable hydrocarbon capacity; (iv) gaining market acceptance and demand for the Company's products and services; (v) attracting and retaining qualified personnel; and (vi) achieving a level of revenues adequate to support the Company's cost structure. COVID- 19. 19" third 19 The Company expects that the impact of the COVID- 19 2020 first 2020 19 third 2020 97% 2019. 2020. With many of the Company's employees working remotely, the Company faces the risk that unusual working arrangements could impact the effectiveness of its operations or controls. A potential COVID- 19 19 There is also a risk that the COVID- 19 2020 19 19 The Company has considered multiple scenarios, with both positive and negative inputs, as part of the significant estimates and assumptions that are inherent in its financial statements and are based on trends in customer behavior and the economic environment throughout the quarter ended September 30, 2020 19 may not September 30, 2020. may may 19 In response to the impact of the COVID- 19 20% April 1, 2020 July 31, 2020. 20% 20% 20% July 31, 2020, 20% New Contracts. April 4, 2019, April 1, 2018 ( April 1, 2018. August 13, 2020, Pursuant to the licenses granted by the Company to Praj under the MFA, Praj has exclusive rights to cause the Company to enter into negotiations with third no The Company will receive certain finder's fees as set forth in the MFA to the extent one third not not 10 one 30 five million fifth On August 14, 2020, 10 If the Company does not December 31, 2020, may not Subject to the satisfaction or waiver of all of the Conditions Precedent, the Company is required to use commercially reasonable efforts to cause the “Commercial Operations Date” to occur on or before December 31, 2023. 85% not December 31, 2023 ( may Restructuring Expenses. first 2020, 19 March 2020, 26 four one one The Company incurred $0.1 $0.2 no nine September 30, 2020, Restructuring expenses $0.02 $0.3 nine September 30, 2020. The Company intends to continue developing its hydrocarbon business, including the planned expansion of the Luverne Facility, and the Company expects to move forward in securing the project funding needed to expand the Luverne Facility. The expansion is designed to allow the Company to produce large quantities of low carbon isobutanol, sustainable aviation fuel and renewable isooctane. The Company also expects to continue engineering efforts for the expansion of isobutanol production and the construction of a commercial renewable hydrocarbon production facility, as well as additional decarbonization projects, at the Luverne Facility. As of September 30, 2020, "Accounts payable and accrued liabilities December 31, 2019 Additions Payments September 30, 2020 Severance (including payroll taxes) $ — $ 96 $ (96 ) $ — Lease agreements — 158 (158 ) — Total $ — $ 254 $ (254) $ — Financial Condition September 30, 2020. September 30, 2020 $80.6 The Company expects to incur future net losses as it continues to fund the development and commercialization of its product candidates. To date, the Company has financed its operations primarily with proceeds from issuance of equity and debt securities, borrowings under debt facilities and product sales. The Company's transition to profitability is dependent upon, among other things, the successful development and commercialization of its product candidates and the achievement of a level of revenues adequate to support the Company's cost structure. The Company may may no July 2020 July 6, 2020, “July 2020 20,896,666 1 1 $0.60 1 9,103,334 2 2 $0.59 2 July 2020 1 September 30, 2020. Each Series 1 one one 2020 one 2020 2 2020 one 2020 2020 one 2020 2020 five $0.60 2020 $0.01 2020 July 2020 2020 30,000,000 September 30, 2020, 2020 The net proceeds to the Company from the July 2020 $16.1 not July 2020 During the three September 30, 2020, 2020 27,317,834 $16.4 2020 2,682,166 $0.60 August 2020 August 25, 2020, 21,929,313 $1.30 16,532,232 2020 one 2020 $1.29 2020 “August 2020 2020 $0.01 2020 September 30, 2020, 2020 The net proceeds to the Company from the August 2020 $45.8 not August 2020 The Company evaluated the Series 2020 2020 2020 480, Distinguishing Liabilities from Equity 2020 2020 2020 The Warrants are classified as component of permanent equity because they are freestanding financial instruments that are legally detachable and separately exercisable from the shares of common stock with which they were issued, are immediately exercisable, do not not 2020 2020 2020 2020 2020 2020 $8.3 $2.9 $21.4 130% 141%, 0.30% 0.31% five Conversion of 2020/21 July 10, 2020, 2020/21 $2.0 2020/21 $0.3 4,169,426 2020/21 Loss on conversion of 2020/21 $0.5 At-the-Market Offering Program. February 2018, August 2019, $10.7 During the nine September 30, 2020, 1,343,121 $2.2 No three September 30, 2020. As of September 30, 2020, $6.5 Basis of Presentation. not y at September 30 , 2020 not 8 10 December 31, 2019. Income Taxes. no Concentration of Business Risk. September 30, 2020, four 27%, 20%, 14% 12% December 31, 2019, three 57%, 13% 15% For the three September 30, 2020, 52% 39% three September 30, 2019, 73% 16% nine September 30, 2020, 57%, 17% 15% nine September 30, 2019, 73% 16% 14 Related Party Transaction. nine September 30, 2020, $0.1 no September 30, 2020. |
Note 2 - Earnings Per Share
Note 2 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 2. Earnings Per Share Basic earnings (loss) per sha re is computed by dividing the net loss for the period by the weighted-average number of common shares outstanding during the period. Diluted earnings (loss) per share (“EPS”) includes the dilutive effect of common stock equivalents and is computed using the weighted-average number of common stock and common stock equivalents outstanding during the reporting period. Diluted EPS for the three nine September 30 , 2020 2019 The following table sets forth securities outstanding that could potentially dilute the calculation of diluted earnings per share: Three and Nine Months ended September 30, 2020 2019 Warrants to purchase common stock - liability classified 52,032 54,989 Warrant to purchase common stock - equity classified 2,682,166 — Conversion of 2020/21 Notes 5,789,209 — Conversion of 2020 Notes — 997,914 Outstanding options to purchase common stock 1,552 1,564 Stock appreciation rights 132,566 132,566 Total 8,657,525 1,187,033 |
Note 3 - Revenues From Contract
Note 3 - Revenues From Contracts With Customers and Other Revenues | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 3. Revenues from Contracts with Customers and Other Revenues The Company's current and historical revenues have consisted of the following: (a) ethanol sales and related products revenue, net; (b) hydrocarbon revenue; and (c) grant and other revenue, which primarily has historically consisted of revenues from governmental and cooperative research grants. Ethanol sales and related products revenues. no Hydrocarbon revenue. no The following table sets forth the components of the Company's revenues between those generated from contracts with customers and those generated from arrangements that do not Three Months Ended September 30, 2020 Major Goods/Service Line Revenues from Contracts with Customers Other Revenues Total Ethanol sales and related products, net $ 21 $ — $ 21 Hydrocarbon revenue 101 — 101 Other revenue 70 — 70 $ 192 $ — $ 192 Timing of Revenue Recognition Goods transferred at a point in time $ 122 $ — $ 122 Services transferred over time 70 — 70 $ 192 $ — $ 192 Three Months Ended September 30, 2019 Major Goods/Service Line Revenues from Contracts with Customers Other Revenues Total Ethanol sales and related products, net $ 5,554 $ — $ 5,554 Hydrocarbon revenue 550 — 550 Other revenue — 6 6 $ 6,104 $ 6 $ 6,110 Timing of Revenue Recognition Goods transferred at a point in time $ 6,104 $ — $ 6,104 Services transferred over time — 6 6 $ 6,104 $ 6 $ 6,110 Nine Months Ended September 30, 2020 Major Goods/Service Line Revenues from Contracts with Customers Other Revenues Total Ethanol sales and related products, net $ 3,804 $ — $ 3,804 Hydrocarbon revenue 1,085 — 1,085 Other revenue 116 — 116 $ 5,005 $ — $ 5,005 Timing of Revenue Recognition Goods transferred at a point in time $ 4,889 $ — $ 4,889 Services transferred over time 116 — 116 $ 5,005 $ — $ 5,005 Nine Months Ended September 30, 2019 Major Goods/Service Line Revenues from Contracts with Customers Other Revenues Total Ethanol sales and related products, net $ 16,184 — $ 16,184 Hydrocarbon revenue 1,381 — 1,381 Other revenue — 34 34 $ 17,565 $ 34 $ 17,599 Timing of Revenue Recognition Goods transferred at a point in time $ 17,565 $ — $ 17,565 Services transferred over time — 34 34 $ 17,565 $ 34 $ 17,599 Goods transferred at a point-in-time. three nine September 30, 2020 2019, no September 30, 2020 December 31, 2019, no All goods transferred are tested to ensure product sold satisfies contractual product specifications prior to transfer. The customer obtains control of the goods when title and risk of loss for the goods has transferred, which in most cases is “ free-on-board, shipping point one three no Services transferred over time. three nine September 30, 2020 2019, no September 30, 2020 December 31, 2019, no Contract Assets and Trade Receivables. September 30, 2020 December 31, 2019, no not no September 30, 2020 December 31, 2019. not September 30, 2020 December 31, 2019. |
Note 4 - Leases, Right-to-use A
Note 4 - Leases, Right-to-use Assets and Related Liabilities | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 4. The Company enters into various arrangements which constitute a lease as defined by Accounting Standards Codification ("ASC") 842, Leases, The contracts for the Company are comprised of facility, equipment and transportation leases necessary to conduct the Company's day-to-day operations for which the Company maintains control of right-to-use assets and incurs the related liabilities. The facility lease includes variable payments for common area maintenance. In addition, the Company has one Loans payable - other There is one not September 30, 2020 $2.0 September 30, 2020. two not December 31, 2019 $3.0 December 31, 2019. The following table presents the (a) costs by lease category and (b) other quantitative information relating to the Company's leases (dollars in thousands): Three Months Ended September 30, 2020 2019 Lease Cost Financing lease cost $ 1 $ — Operating lease cost 11 435 Short-Term lease cost 376 110 Variable lease cost 36 21 Total lease cost $ 424 $ 566 Nine Months Ended September 30, 2020 2019 Lease Cost Financing lease cost $ 3 $ — Operating lease cost 545 1,166 Short-Term lease cost 556 315 Variable lease cost 108 86 Total lease cost $ 1,212 $ 1,567 Other Information Cash paid for the measurement of lease liabilities: Operating cash flows from finance lease $ 2 $ — Operating cash flows from operating leases 545 1,166 Finance cash flows from finance lease 1 — Right-to-use asset obtained in exchange for new financing lease liability 13 — Weighted-average remaining lease term, financing lease (months) 53 — Weighted-average remaining lease term, operating leases (months) 10 22 Weighted-average discount rate - financing lease 21% — Weighted-average discount rate - operating leases 12% 12% The table below shows the future minimum payments under non-cancelable financing and operating leases at September 30, 2020 ( Year Ending December 31, Financing Leases Operating Leases 2020 (remaining) $ 1 77 2021 4 180 2022 4 — 2023 4 — 2024 and thereafter 5 — Total 18 257 Less: Amounts representing present value discounts (6 ) (10 ) Total lease liabilities 12 247 |
Note 5 - Inventories
Note 5 - Inventories | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 5. Inventories The following table sets forth the components of the Company's inventory balances (in thousands): September 30, December 31, 2020 2019 Raw materials Corn $ — $ 267 Enzymes and other inputs 136 184 Finished goods Jet Fuels, Isooctane and Isooctene 881 571 Isobutanol — 135 Ethanol — 93 Distiller's grains — 54 Work in process Agri-Energy — 254 Gevo 29 122 Spare parts 1,505 1,521 Total inventories $ 2,551 $ 3,201 Work in process inventory includes unfinished jet fuel, isooctane and isooctene inventory. |
Note 6 - Property, Plant and Eq
Note 6 - Property, Plant and Equipment | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 6. Property, Plant and Equipment The following table sets forth the Company's property, plant and equipment by classification (in thousands): Useful Life September 30, December 31, (in years) 2020 2019 Luverne retrofit asset 20 $ 70,820 $ 70,820 Plant machinery and equipment 10 17,374 17,413 Site improvements 10 7,157 7,054 Lab equipment, furniture and fixtures and vehicles 5 6,396 6,393 Demonstration plant 2 3,597 3,597 Buildings 10 2,543 2,543 Leasehold improvements, pilot plant, land and support equipment 2 to 5 2,523 2,523 Computer, office equipment and software 3 to 6 2,021 2,034 Construction in progress 8,909 7,710 Total property, plant and equipment 121,340 120,087 Less accumulated depreciation and amortization (58,016 ) (53,391 ) Property, plant and equipment, net $ 63,324 $ 66,696 The Company recorded depreciation and amortization expense related to property, plant and equipment as follows (in thousands): Three Months Ended September 30 2020 2019 Cost of goods sold $ 1,418 $ 1,578 Operating expenses 52 30 Total depreciation and amortization $ 1,470 $ 1,608 Nine Months Ended September 30 2020 2019 Cost of goods sold $ 4,580 $ 4,697 Operating expenses 158 92 Total depreciation and amortization $ 4,738 $ 4,789 |
Note 7 - Embedded Derivatives L
Note 7 - Embedded Derivatives Liabilities | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Discussion of Hybrid Instruments and Embedded Derivatives [Text Block] | 7. Embedded Derivatives Liabilities 2020 In June 2017, 12% 2020 “2020 12.0% 2017 “2017 2020 2020 “2020 2020 three nine 150% ten 2020 Embedded derivatives are separated from the host contract and the 2020 not 2020 2020 one The Company used a binomial lattice model in order to estimate the fair value of the embedded derivative in the 2020 two 2020 2020 2020 150% ten Using this lattice model, the Company valued the embedded derivative using a “with-and-without method”, where the value of the 2020 2020 2020 2020 2020 2020 2020/21 In January 2020, 12% 2020/2021 “2020/21 12.0% March 2020 ( “2020 2020/21 2020/21 2020/21 2020/21 Embedded derivatives are separated from the host contract and the 2020/21 not 2020/21 2020/21 one The Company used a binomial lattice model in order to estimate the fair value of the embedded derivative in the 2020/21 As of September 30 , 2020 December 31, 2019, $0.03 $0, 2020/21 2020 $0.2 $0.03 2020/21 three nine September 30 , 2020, $0 $0.4 2020 three nine September 30 , 2019, The following table sets forth the inputs to the lattice models that were used to value the embedded derivatives: September 30, December 31, 2020 2019 Stock price $ 1.00 $ 2.31 Conversion Rate per $1,000 409.50 67.95 Conversion Price $ 2.44 $ 14.72 Maturity date December 31, 2020 March 15, 2020 Risk-free interest rate 0.10 % 1.52 % Estimated stock volatility 247 % 60 % Estimated credit spread 36 % 27 % Changes in certain inputs into the lattice model can have a significant impact on changes in the estimated fair value of the embedded featured within the 2020/21 2020 1 2 3 Derivative Warrant Liability The following warrants were sold by the Company during the nine September 30, 2020: • In July 2020, 2020 30,000,000 2020 9,103,334 • In August 2020, 2020 16,532,232 The following table sets forth information pertaining to shares issued upon the exercise of such warrants as of September 30, 2020: Issuance Date Expiration Date Exercise Price as of September 30, 2020 Shares Underlying Warrants on Issuance Date Shares Issued upon Warrant Exercises as of September 30, 2020 Shares Underlying Warrants Outstanding as of September 30, 2020 Series D Warrants 12/11/2015 12/11/2020 $ 40.00 25,125 25,078 47 Series F Warrants 04/01/2016 04/01/2021 $ 40.00 25,733 11,692 14,041 Series I Warrants 09/13/2016 09/13/2021 $ 220.00 35,368 — 35,368 Series K Warrants 02/17/2017 2/17/2022 $ 2.00 311,236 308,660 2,576 Series 2020-A Warrants (1) 7/6/2020 7/6/2025 $ 0.60 30,000,000 27,317,834 2,682,166 Series 2020-B Warrants (1) 7/6/2020 7/6/2025 $ 0.01 9,103,334 9,103,334 — Series 2020-C Warrants (1) 8/25/2020 8/25/2025 $ 0.01 16,532,232 16,532,232 — 56,033,028 53,298,830 2,734,198 ( 1 2020 2020 2020 The agreements governing the above warrants include the following terms: • certain warrants have exercise prices which are subject to adjustment for certain events, including the issuance of stock dividends on the Company's common stock and, in certain instances, the issuance of the Company's common stock or instruments convertible into the Company's common stock at a price per share less than the exercise price of the respective warrants; • warrant holders may not may • the exercise price and the number and type of securities purchasable upon exercise of the warrants are subject to adjustment upon certain corporate events, including certain combinations, consolidations, liquidations, mergers, recapitalizations, reclassifications, reorganizations, stock dividends and stock splits, a sale of all or substantially all of the Company's assets and certain other events; and • in the event of an “extraordinary transaction” or a “fundamental transaction” (as such terms are defined in the respective warrant agreements), generally including any merger with or into another entity, sale of all or substantially all of the Company's assets, tender offer or exchange offer, or reclassification of its common stock, in which the successor entity (as defined in the respective warrant agreements) that assumes the successor entity is not 30 may During the three September 30, 2020, Common Stock Issued Proceeds Series 2020-A Warrants 27,317,834 $ 16,391 Series 2020-B Warrants 9,103,334 91 Series 2020-C Warrants 16,532,232 165 52,953,400 $ 16,647 |
Note 8 - Accounts Payable and A
Note 8 - Accounts Payable and Accrued Liabilities | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 8. Accounts Payable and Accrued Liabilities The following table sets forth the components of the Company's accounts payable and accrued liabilities in the consolidated balance sheets (in thousands): September 30, December 31, 2020 2019 Accrued utilities and supplies $ 712 $ 645 Accounts payable - trade 1,441 1,474 Accrued employee compensation 1,593 1,946 Other accrued liabilities 1,158 1,613 Total accounts payable and accrued liabilities $ 4,904 $ 5,678 |
Note 9 - Debt
Note 9 - Debt | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 9. Debt 2020 2020/21 The following table sets forth information pertaining to the 2020 2020/21 Principal Amount of 2020 Notes Principal Amount of 2020/21 Notes Debt Discount Debt Issue Costs Total Notes Embedded Derivative Total Balance - December 31, 2019 $ 14,053 $ — $ (123 ) $ (30 ) $ 13,900 $ — $ 13,900 Amortization of debt discount — — 270 — 270 — 270 Amortization of debt issue costs — — — 20 20 — 20 Paid-in-kind interest 47 269 — — 316 — 316 Exchange of 2020 Notes for 2020/21 Notes (14,100 ) 14,100 — — — — — Original issue discount paid with 2020/21 Notes — 282 (282 ) — — — — Conversion of 2020/21 Notes into common stock — (2,000 ) — — (2,000 ) — (2,000 ) Fair value of 2020/21 embedded derivative — — — — — 2,848 2,848 Change in fair value of 2020/21 Notes embedded derivative — — — — — (2,819 ) (2,819 ) Balance - September 30, 2020 $ — $ 12,651 $ (135 ) $ (10 ) $ 12,506 $ 29 $ 12,535 On June 20, 2017, 2020 12.0% 2017 "2017 2020 March 15, 2020 first 2020 12% 2% March 31, June 30, September 30 December 31 2020 2020 Under certain circumstances, the Company had the option to pay a portion of the interest due on the 2020 2020 2020 Additional shares of the Company's common stock could also have become issuable pursuant to the 2020 2020 The 2020 2020 $14.72 0.0679 $1 2020 2020/21 On January 10, 2020, “2020/21 2020 2020/21 2020 2020 $14.1 $14.4 2020/21 “2020/21 2020/21 $7.1 2020/21 “2020/21 2020/21 2.0%, 2020/21 2020/21 180 30 June 3, 2020. 2020/21 July 3, 2020. January 10, 2020, 2020/21 2020 “2020/21 April 7, 2020 ( July 2, 2020 ( August 24, 2020 ( “2020/21 2020/21 $0.7 (Loss) on modification of 2020 The 2020/21 December 31, 2020, April 1, 2021 2020/21 2020/21 December 15, 2020 $7 2020/21 12% 4% March 31, June 30, September 30 December 31 2020/21 2020/21 2020/21 2020/21 2020/21 The 2020/21 2020/21 $2.442 “2020/21 0.4095 $1 2020/21 may 2020/21 2020/21 2020/21 2020/21 10% three Each holder has agreed not 2020/21 4.99% “4.99% may, 61 9.99% “9.99% 2020/21 4.99% 9.99% 2020/21 nine six The 2020/21 may June 3, 2020 120 2020/21 2020/21 2020/21 December 31, 2020. 2020/21 may 2020/21 The 2020/21 not 2020/21 2020/21 The 2020/21 2020/21 Additional shares of the Company's common stock could also become issuable pursuant to the 2020/21 2020/21 Under certain circumstances, the Company may one 3 2020/21 Conversion of 2020/21 On July 10, 2020, 2020/21 $2.0 2020/21 $0.3 4,169,426 2020/21 Loss on conversion of 2020/21 $0.5 Loans Payable - Other During the first 2020, fourth 2019, 4% 21%, $0.1 August 2020 February 2025. In April 2020, $1.0 April 2022 1% August 2021 August 5, 2021, $0.06 24 The balance of these loans at September 30, 2020 December 31, 2019 September 30 December 31, 2019 SBA Loans $ 1,006 $ — Equipment 281 321 Insurance — 428 Total notes payable - other 1,287 749 Less current portion (704 ) (516 ) Long-term portion $ 583 $ 233 Future payments for Loans Payable - Other are as follows (in thousands): Year ending December 31, 2020 (remaining) $ 134 2021 763 2022 290 2023 65 2024 and thereafter 35 $ 1,287 |
Note 10 - Equity Incentive Plan
Note 10 - Equity Incentive Plans | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Stock Incentive Plans Disclosure [Text Block] | 10 . Equity Incentive Plans 2010 February 2011, 2010 "2010 2010 June 10, 2019, 2010 3,266,661 June 3, 2020, 2010 3,713,413 6,980,074 Restricted common stock activity during the nine September 30, 2020 • In February 2020, 109,337 three 1,258 two February 27, 2020. • In March 2020, 4,055 • In April 2020, 239,155 April 1, 2020 20% 1, May 15, 2020. April 2020, 29,032 • During the three June 30, 2020, 77,768 • During July 2020, 115,156 July 1, 2020 20% July 31, 2020. 3,989,140 101,730 two • During the three September 30, 2020, 245,990 At September 30, 2020, 1,242,905 2010 Employee Stock Purchase Plan February 2011, January 1 June 30 July 1 December 31 190 190 June 30, 2020 85% first no nine September 30, 2020 2019. |
Note 11 - Stock-based Compensat
Note 11 - Stock-based Compensation | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 11. Stock-Based Compensation The Company records stock-based compensation expense during the requisite service period for share-based payment awards granted to employees and non-employees. The following table sets forth the Company's stock-based compensation expense (in thousands) for the periods indicated: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Restricted stock Research and development $ 142 $ 68 $ 353 $ 129 Selling, general and administrative 500 236 1,122 581 Stock appreciation rights Research and development 16 132 (61 ) 114 Selling, general and administrative 16 132 (67 ) 114 Total stock-based compensation $ 674 $ 568 $ 1,347 $ 938 Stock Option Award Activity September 30, 2020 three September 30, 2020 Weighted- Average Weighted- Remaining Average Contractual Aggregate Number of Exercise Term Intrinsic Options Price (1) (years) Value Options outstanding at December 31, 2019 1,561 $ 928.79 6.56 $ — Granted — $ — Canceled or forfeited (9 ) $ 72,891.04 Exercised — $ — Options outstanding at September 30, 2020 1,552 $ 556.13 5.83 $ — Options exercisable at September 30, 2020 1,552 $ 556.13 5.83 $ — Options vested and expected to vest at September 30, 2020 1,552 $ 556.13 5.83 $ — ( 1 $20.00 $99,300.00 September 30, 2020. Restricted Stock September 30, 2020 three September 30, 2020 Weighted- Average Number of Grant-Date Shares Fair Value Non-vested at December 31, 2019 1,308,613 $ 1.91 Granted 4,454,046 $ 0.63 Vested (1,015,336 ) $ 1.47 Canceled or forfeited (6,974 ) $ 1.90 Non-vested at September 30, 2020 4,740,349 $ 0.80 The total fair value of restricted stock that vested during the nine September 30, 2020 $1.5 September 30, 2020, $3.1 1.6 |
Note 12 - Commitments and Conti
Note 12 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 12. Commitments and Contingencies Legal Matters may not not Indemnifications may September 30, 2020 December 31, 2019, not In addition, the Company, as permitted under Delaware law and in accordance with its amended and restated certificate of incorporation and amended and restated bylaws, in each case, as amended to date, indemnifies its officers and directors for certain events or occurrences, subject to certain limits, while the officer or director is or was serving at the Company's request in such capacity. The duration of these indemnifications, commitments, and guarantees varies and, in certain cases, is indefinite. The maximum amount of potential future indemnification is unlimited; however, the Company has a director and officer insurance policy that may may No Environmental Liabilities No September 30, 2020. |
Note 13 - Fair Value Measuremen
Note 13 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 13. Fair Value Measurements Accounting standards define fair value, outline a framework for measuring fair value, and detail the required disclosures about fair value measurements. Under these standards, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in the principal or most advantageous market. Standards establish a hierarchy in determining the fair market value of an asset or liability. The fair value hierarchy has three Level 1 Level 2 1, 2 Level 3 no These tables present the carrying value and fair value, by fair value hierarchy, of our financial instruments, excluding cash and cash equivalents, accounts receivable and accounts payable, which approximate fair value due to their short-term nature, at September 30 , 2020 December 31, 2019, Fair Value Measurements at September 30, 2020 (In thousands) Fair Value at September 30, 2020 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Recurring: 2020/21 Notes Embedded Derivative Liability $ 29 $ — $ — $ 29 Nonrecurring Corn and finished goods inventory $ 599 $ — $ 599 $ — Fair Value Measurements at December 31, 2019 (In thousands) Fair Value at December 31, 2019 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Recurring: Derivative Warrant Liability $ 8 $ — $ — $ 8 Nonrecurring Corn and finished goods inventory $ 940 $ 267 $ 673 $ — The following table provides changes to those fair value measurements using Level 3 three d September 30 , 2020 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Derivative Warrant Liability 2020/21 Notes Embedded Derivative Balance, December 31, 2019 $ 8 $ — Issue of 2020/21 Notes embedded derivative liability — 2,848 Total (gains) included in earnings (8 ) (2,819 ) Balance, September 30, 2020 $ — $ 29 There were no 3 three September 30, 2020. Inventories. The Company records its corn inventory at fair value only when the Company's cost of corn purchased exceeds the market value for corn. The Company determines the market value of corn and dry distiller's grain based upon Level 1 2 2020/21 Notes Embedded Derivative . The Company had estimated the fair value of the embedded derivative on a stand-alone basis to be $0.03 September 30, 2020 3 Change in fair value of 2020/21 ” in the consolidated Statements 7, Embedded Derivatives Derivative Warrant Liability 3 3 $0 $.01 September 30, 2020 December 31, 2019, While the Company believes that its valuation methods are appropriate and consistent with other market participants, it recognizes that the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. |
Note 14 - Segments
Note 14 - Segments | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 14. Segments The Company has determined that it has two Gevo Segment Gevo Development/Agri-Energy Segment The Company's chief operating decision maker is provided with and reviews the financial results of each of the Company's consolidated legal entities, Gevo, Inc., Gevo Development, LLC and Agri-Energy, LLC. The Company organizes its business segments based on the nature of the products and services offered through each of its consolidated legal entities. All revenue is earned and all assets are held in the U.S. Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Revenues: Gevo $ 176 $ 550 $ 1,198 $ 1,381 Gevo Development / Agri-Energy 16 5,560 3,807 16,218 Consolidated $ 192 $ 6,110 $ 5,005 $ 17,599 Loss from operations: Gevo $ (3,831 ) $ (3,830 ) $ (9,896 ) $ (9,463 ) Gevo Development / Agri-Energy (2,272 ) (4,173 ) (9,440 ) (10,661 ) Consolidated $ (6,103 ) $ (8,003 ) $ (19,336 ) $ (20,124 ) Interest expense: Gevo $ 465 $ 605 $ 1,546 $ 2,127 Gevo Development / Agri-Energy 8 — 13 — Consolidated $ 473 $ 605 $ 1,559 $ 2,127 Depreciation and amortization expense: Gevo $ 53 $ 50 $ 159 $ 152 Gevo Development / Agri-Energy 1,423 1,578 4,595 4,697 Consolidated $ 1,476 $ 1,628 $ 4,754 $ 4,849 Acquisitions of plant, property and equipment: Gevo $ — $ — $ 79 $ 62 Gevo Development / Agri-Energy 106 781 1,325 4,862 Consolidated $ 106 $ 781 $ 1,404 $ 4,924 Revenue by geographic area United States $ 12 $ 5,560 $ 3,853 $ 16,218 Other 180 550 1,152 1,381 Consolidated $ 192 $ 6,110 $ 5,005 $ 17,599 September 30 December 31, 2020 2019 Total assets Gevo $ 152,762 $ 91,861 Gevo Development / Agri-Energy 133,790 143,349 Intercompany eliminations (1) (133,065 ) (141,851 ) Consolidated (2) $ 153,487 $ 93,359 ( 1 Includes intercompany sales of $0.1 nine September 30, 2020 $0.4 December 31, 2019 ( 2 All other significant non-cash items relate to the activities of Gevo. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
Nature of Business [Policy Text Block] | Nature of Business zero Gevo uses low-carbon, renewable resource-based raw materials as feedstock. In the near-term, Gevo's feedstocks will primarily consist of non-food corn. As Gevo's technology is applied globally, feedstocks can consist of sugar cane, molasses or other cellulosic sugars derived from wood, agricultural residues and waste. Gevo's patented fermentation yeast biocatalyst produces isobutanol, a four Ultimately, the Company believes that the attainment of profitable operations is dependent upon future events, including (i) completing certain capital improvements at the Company's production facility located in Luverne, Minnesota (the "Luverne Facility") to increase the production capacity of renewable gasoline and jet fuel and other related products that can be made from isobutanol; (ii) completing the Company's development activities resulting in commercial production and sales of renewable hydrocarbon products; (iii) obtaining adequate financing to complete the Company's development activities, including the build out of isobutanol and renewable hydrocarbon capacity; (iv) gaining market acceptance and demand for the Company's products and services; (v) attracting and retaining qualified personnel; and (vi) achieving a level of revenues adequate to support the Company's cost structure. COVID- 19. 19" third 19 The Company expects that the impact of the COVID- 19 2020 first 2020 19 third 2020 97% 2019. 2020. With many of the Company's employees working remotely, the Company faces the risk that unusual working arrangements could impact the effectiveness of its operations or controls. A potential COVID- 19 19 There is also a risk that the COVID- 19 2020 19 19 The Company has considered multiple scenarios, with both positive and negative inputs, as part of the significant estimates and assumptions that are inherent in its financial statements and are based on trends in customer behavior and the economic environment throughout the quarter ended September 30, 2020 19 may not September 30, 2020. may may 19 In response to the impact of the COVID- 19 20% April 1, 2020 July 31, 2020. 20% 20% 20% July 31, 2020, 20% New Contracts. April 4, 2019, April 1, 2018 ( April 1, 2018. August 13, 2020, Pursuant to the licenses granted by the Company to Praj under the MFA, Praj has exclusive rights to cause the Company to enter into negotiations with third no The Company will receive certain finder's fees as set forth in the MFA to the extent one third not not 10 one 30 five million fifth On August 14, 2020, 10 If the Company does not December 31, 2020, may not Subject to the satisfaction or waiver of all of the Conditions Precedent, the Company is required to use commercially reasonable efforts to cause the “Commercial Operations Date” to occur on or before December 31, 2023. 85% not December 31, 2023 ( may |
Costs Associated with Exit or Disposal Activity or Restructuring [Policy Text Block] | Restructuring Expenses. first 2020, 19 March 2020, 26 four one one The Company incurred $0.1 $0.2 no nine September 30, 2020, Restructuring expenses $0.02 $0.3 nine September 30, 2020. The Company intends to continue developing its hydrocarbon business, including the planned expansion of the Luverne Facility, and the Company expects to move forward in securing the project funding needed to expand the Luverne Facility. The expansion is designed to allow the Company to produce large quantities of low carbon isobutanol, sustainable aviation fuel and renewable isooctane. The Company also expects to continue engineering efforts for the expansion of isobutanol production and the construction of a commercial renewable hydrocarbon production facility, as well as additional decarbonization projects, at the Luverne Facility. As of September 30, 2020, "Accounts payable and accrued liabilities December 31, 2019 Additions Payments September 30, 2020 Severance (including payroll taxes) $ — $ 96 $ (96 ) $ — Lease agreements — 158 (158 ) — Total $ — $ 254 $ (254) $ — |
Financial Condition [Policy Text Block] | Financial Condition September 30, 2020. September 30, 2020 $80.6 The Company expects to incur future net losses as it continues to fund the development and commercialization of its product candidates. To date, the Company has financed its operations primarily with proceeds from issuance of equity and debt securities, borrowings under debt facilities and product sales. The Company's transition to profitability is dependent upon, among other things, the successful development and commercialization of its product candidates and the achievement of a level of revenues adequate to support the Company's cost structure. The Company may may no |
Stockholders' Equity, Policy [Policy Text Block] | July 2020 July 6, 2020, “July 2020 20,896,666 1 1 $0.60 1 9,103,334 2 2 $0.59 2 July 2020 1 September 30, 2020. Each Series 1 one one 2020 one 2020 2 2020 one 2020 2020 one 2020 2020 five $0.60 2020 $0.01 2020 July 2020 2020 30,000,000 September 30, 2020, 2020 The net proceeds to the Company from the July 2020 $16.1 not July 2020 During the three September 30, 2020, 2020 27,317,834 $16.4 2020 2,682,166 $0.60 August 2020 August 25, 2020, 21,929,313 $1.30 16,532,232 2020 one 2020 $1.29 2020 “August 2020 2020 $0.01 2020 September 30, 2020, 2020 The net proceeds to the Company from the August 2020 $45.8 not August 2020 The Company evaluated the Series 2020 2020 2020 480, Distinguishing Liabilities from Equity 2020 2020 2020 The Warrants are classified as component of permanent equity because they are freestanding financial instruments that are legally detachable and separately exercisable from the shares of common stock with which they were issued, are immediately exercisable, do not not 2020 2020 2020 2020 2020 2020 $8.3 $2.9 $21.4 130% 141%, 0.30% 0.31% five Conversion of 2020/21 July 10, 2020, 2020/21 $2.0 2020/21 $0.3 4,169,426 2020/21 Loss on conversion of 2020/21 $0.5 At-the-Market Offering Program. February 2018, August 2019, $10.7 During the nine September 30, 2020, 1,343,121 $2.2 No three September 30, 2020. As of September 30, 2020, $6.5 |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation. not y at September 30 , 2020 not 8 10 December 31, 2019. |
Income Tax, Policy [Policy Text Block] | Income Taxes. no |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Business Risk. September 30, 2020, four 27%, 20%, 14% 12% December 31, 2019, three 57%, 13% 15% For the three September 30, 2020, 52% 39% three September 30, 2019, 73% 16% nine September 30, 2020, 57%, 17% 15% nine September 30, 2019, 73% 16% 14 |
Related Party Transactions Policy [Policy Text Block] | Related Party Transaction. nine September 30, 2020, $0.1 no September 30, 2020. |
Note 1 - Nature of Business, _2
Note 1 - Nature of Business, Financial Condition and Basis of Presentation (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | December 31, 2019 Additions Payments September 30, 2020 Severance (including payroll taxes) $ — $ 96 $ (96 ) $ — Lease agreements — 158 (158 ) — Total $ — $ 254 $ (254) $ — |
Note 2 - Earnings Per Share (Ta
Note 2 - Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three and Nine Months ended September 30, 2020 2019 Warrants to purchase common stock - liability classified 52,032 54,989 Warrant to purchase common stock - equity classified 2,682,166 — Conversion of 2020/21 Notes 5,789,209 — Conversion of 2020 Notes — 997,914 Outstanding options to purchase common stock 1,552 1,564 Stock appreciation rights 132,566 132,566 Total 8,657,525 1,187,033 |
Note 3 - Revenues From Contra_2
Note 3 - Revenues From Contracts With Customers and Other Revenues (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended September 30, 2020 Major Goods/Service Line Revenues from Contracts with Customers Other Revenues Total Ethanol sales and related products, net $ 21 $ — $ 21 Hydrocarbon revenue 101 — 101 Other revenue 70 — 70 $ 192 $ — $ 192 Timing of Revenue Recognition Goods transferred at a point in time $ 122 $ — $ 122 Services transferred over time 70 — 70 $ 192 $ — $ 192 Three Months Ended September 30, 2019 Major Goods/Service Line Revenues from Contracts with Customers Other Revenues Total Ethanol sales and related products, net $ 5,554 $ — $ 5,554 Hydrocarbon revenue 550 — 550 Other revenue — 6 6 $ 6,104 $ 6 $ 6,110 Timing of Revenue Recognition Goods transferred at a point in time $ 6,104 $ — $ 6,104 Services transferred over time — 6 6 $ 6,104 $ 6 $ 6,110 Nine Months Ended September 30, 2020 Major Goods/Service Line Revenues from Contracts with Customers Other Revenues Total Ethanol sales and related products, net $ 3,804 $ — $ 3,804 Hydrocarbon revenue 1,085 — 1,085 Other revenue 116 — 116 $ 5,005 $ — $ 5,005 Timing of Revenue Recognition Goods transferred at a point in time $ 4,889 $ — $ 4,889 Services transferred over time 116 — 116 $ 5,005 $ — $ 5,005 Nine Months Ended September 30, 2019 Major Goods/Service Line Revenues from Contracts with Customers Other Revenues Total Ethanol sales and related products, net $ 16,184 — $ 16,184 Hydrocarbon revenue 1,381 — 1,381 Other revenue — 34 34 $ 17,565 $ 34 $ 17,599 Timing of Revenue Recognition Goods transferred at a point in time $ 17,565 $ — $ 17,565 Services transferred over time — 34 34 $ 17,565 $ 34 $ 17,599 |
Note 4 - Leases, Right-to-use_2
Note 4 - Leases, Right-to-use Assets and Related Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three Months Ended September 30, 2020 2019 Lease Cost Financing lease cost $ 1 $ — Operating lease cost 11 435 Short-Term lease cost 376 110 Variable lease cost 36 21 Total lease cost $ 424 $ 566 Nine Months Ended September 30, 2020 2019 Lease Cost Financing lease cost $ 3 $ — Operating lease cost 545 1,166 Short-Term lease cost 556 315 Variable lease cost 108 86 Total lease cost $ 1,212 $ 1,567 Other Information Cash paid for the measurement of lease liabilities: Operating cash flows from finance lease $ 2 $ — Operating cash flows from operating leases 545 1,166 Finance cash flows from finance lease 1 — Right-to-use asset obtained in exchange for new financing lease liability 13 — Weighted-average remaining lease term, financing lease (months) 53 — Weighted-average remaining lease term, operating leases (months) 10 22 Weighted-average discount rate - financing lease 21% — Weighted-average discount rate - operating leases 12% 12% |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Year Ending December 31, Financing Leases Operating Leases 2020 (remaining) $ 1 77 2021 4 180 2022 4 — 2023 4 — 2024 and thereafter 5 — Total 18 257 Less: Amounts representing present value discounts (6 ) (10 ) Total lease liabilities 12 247 |
Note 5 - Inventories (Tables)
Note 5 - Inventories (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | September 30, December 31, 2020 2019 Raw materials Corn $ — $ 267 Enzymes and other inputs 136 184 Finished goods Jet Fuels, Isooctane and Isooctene 881 571 Isobutanol — 135 Ethanol — 93 Distiller's grains — 54 Work in process Agri-Energy — 254 Gevo 29 122 Spare parts 1,505 1,521 Total inventories $ 2,551 $ 3,201 |
Note 6 - Property, Plant and _2
Note 6 - Property, Plant and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | Useful Life September 30, December 31, (in years) 2020 2019 Luverne retrofit asset 20 $ 70,820 $ 70,820 Plant machinery and equipment 10 17,374 17,413 Site improvements 10 7,157 7,054 Lab equipment, furniture and fixtures and vehicles 5 6,396 6,393 Demonstration plant 2 3,597 3,597 Buildings 10 2,543 2,543 Leasehold improvements, pilot plant, land and support equipment 2 to 5 2,523 2,523 Computer, office equipment and software 3 to 6 2,021 2,034 Construction in progress 8,909 7,710 Total property, plant and equipment 121,340 120,087 Less accumulated depreciation and amortization (58,016 ) (53,391 ) Property, plant and equipment, net $ 63,324 $ 66,696 |
Schedule of Depreciation and Amortization Expense [Table Text Block] | Three Months Ended September 30 2020 2019 Cost of goods sold $ 1,418 $ 1,578 Operating expenses 52 30 Total depreciation and amortization $ 1,470 $ 1,608 Nine Months Ended September 30 2020 2019 Cost of goods sold $ 4,580 $ 4,697 Operating expenses 158 92 Total depreciation and amortization $ 4,738 $ 4,789 |
Note 7 - Embedded Derivatives_2
Note 7 - Embedded Derivatives Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Defined Benefit Plan, Assumptions [Table Text Block] | September 30, December 31, 2020 2019 Stock price $ 1.00 $ 2.31 Conversion Rate per $1,000 409.50 67.95 Conversion Price $ 2.44 $ 14.72 Maturity date December 31, 2020 March 15, 2020 Risk-free interest rate 0.10 % 1.52 % Estimated stock volatility 247 % 60 % Estimated credit spread 36 % 27 % |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Issuance Date Expiration Date Exercise Price as of September 30, 2020 Shares Underlying Warrants on Issuance Date Shares Issued upon Warrant Exercises as of September 30, 2020 Shares Underlying Warrants Outstanding as of September 30, 2020 Series D Warrants 12/11/2015 12/11/2020 $ 40.00 25,125 25,078 47 Series F Warrants 04/01/2016 04/01/2021 $ 40.00 25,733 11,692 14,041 Series I Warrants 09/13/2016 09/13/2021 $ 220.00 35,368 — 35,368 Series K Warrants 02/17/2017 2/17/2022 $ 2.00 311,236 308,660 2,576 Series 2020-A Warrants (1) 7/6/2020 7/6/2025 $ 0.60 30,000,000 27,317,834 2,682,166 Series 2020-B Warrants (1) 7/6/2020 7/6/2025 $ 0.01 9,103,334 9,103,334 — Series 2020-C Warrants (1) 8/25/2020 8/25/2025 $ 0.01 16,532,232 16,532,232 — 56,033,028 53,298,830 2,734,198 |
Exercise of Warrants [Table Text Block] | Common Stock Issued Proceeds Series 2020-A Warrants 27,317,834 $ 16,391 Series 2020-B Warrants 9,103,334 91 Series 2020-C Warrants 16,532,232 165 52,953,400 $ 16,647 |
Note 8 - Accounts Payable and_2
Note 8 - Accounts Payable and Accrued Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | September 30, December 31, 2020 2019 Accrued utilities and supplies $ 712 $ 645 Accounts payable - trade 1,441 1,474 Accrued employee compensation 1,593 1,946 Other accrued liabilities 1,158 1,613 Total accounts payable and accrued liabilities $ 4,904 $ 5,678 |
Note 9 - Debt (Tables)
Note 9 - Debt (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | Principal Amount of 2020 Notes Principal Amount of 2020/21 Notes Debt Discount Debt Issue Costs Total Notes Embedded Derivative Total Balance - December 31, 2019 $ 14,053 $ — $ (123 ) $ (30 ) $ 13,900 $ — $ 13,900 Amortization of debt discount — — 270 — 270 — 270 Amortization of debt issue costs — — — 20 20 — 20 Paid-in-kind interest 47 269 — — 316 — 316 Exchange of 2020 Notes for 2020/21 Notes (14,100 ) 14,100 — — — — — Original issue discount paid with 2020/21 Notes — 282 (282 ) — — — — Conversion of 2020/21 Notes into common stock — (2,000 ) — — (2,000 ) — (2,000 ) Fair value of 2020/21 embedded derivative — — — — — 2,848 2,848 Change in fair value of 2020/21 Notes embedded derivative — — — — — (2,819 ) (2,819 ) Balance - September 30, 2020 $ — $ 12,651 $ (135 ) $ (10 ) $ 12,506 $ 29 $ 12,535 |
Schedule of Long-term Debt Instruments [Table Text Block] | September 30 December 31, 2019 SBA Loans $ 1,006 $ — Equipment 281 321 Insurance — 428 Total notes payable - other 1,287 749 Less current portion (704 ) (516 ) Long-term portion $ 583 $ 233 |
Schedule of Maturities of Long-term Debt [Table Text Block] | Year ending December 31, 2020 (remaining) $ 134 2021 763 2022 290 2023 65 2024 and thereafter 35 $ 1,287 |
Note 11 - Stock-based Compens_2
Note 11 - Stock-based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Cost by Plan [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Restricted stock Research and development $ 142 $ 68 $ 353 $ 129 Selling, general and administrative 500 236 1,122 581 Stock appreciation rights Research and development 16 132 (61 ) 114 Selling, general and administrative 16 132 (67 ) 114 Total stock-based compensation $ 674 $ 568 $ 1,347 $ 938 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Weighted- Average Weighted- Remaining Average Contractual Aggregate Number of Exercise Term Intrinsic Options Price (1) (years) Value Options outstanding at December 31, 2019 1,561 $ 928.79 6.56 $ — Granted — $ — Canceled or forfeited (9 ) $ 72,891.04 Exercised — $ — Options outstanding at September 30, 2020 1,552 $ 556.13 5.83 $ — Options exercisable at September 30, 2020 1,552 $ 556.13 5.83 $ — Options vested and expected to vest at September 30, 2020 1,552 $ 556.13 5.83 $ — |
Schedule of Nonvested Share Activity [Table Text Block] | Weighted- Average Number of Grant-Date Shares Fair Value Non-vested at December 31, 2019 1,308,613 $ 1.91 Granted 4,454,046 $ 0.63 Vested (1,015,336 ) $ 1.47 Canceled or forfeited (6,974 ) $ 1.90 Non-vested at September 30, 2020 4,740,349 $ 0.80 |
Note 13 - Fair Value Measurem_2
Note 13 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | Fair Value Measurements at September 30, 2020 (In thousands) Fair Value at September 30, 2020 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Recurring: 2020/21 Notes Embedded Derivative Liability $ 29 $ — $ — $ 29 Nonrecurring Corn and finished goods inventory $ 599 $ — $ 599 $ — Fair Value Measurements at December 31, 2019 (In thousands) Fair Value at December 31, 2019 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Recurring: Derivative Warrant Liability $ 8 $ — $ — $ 8 Nonrecurring Corn and finished goods inventory $ 940 $ 267 $ 673 $ — |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Derivative Warrant Liability 2020/21 Notes Embedded Derivative Balance, December 31, 2019 $ 8 $ — Issue of 2020/21 Notes embedded derivative liability — 2,848 Total (gains) included in earnings (8 ) (2,819 ) Balance, September 30, 2020 $ — $ 29 |
Note 14 - Segments (Tables)
Note 14 - Segments (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Revenues: Gevo $ 176 $ 550 $ 1,198 $ 1,381 Gevo Development / Agri-Energy 16 5,560 3,807 16,218 Consolidated $ 192 $ 6,110 $ 5,005 $ 17,599 Loss from operations: Gevo $ (3,831 ) $ (3,830 ) $ (9,896 ) $ (9,463 ) Gevo Development / Agri-Energy (2,272 ) (4,173 ) (9,440 ) (10,661 ) Consolidated $ (6,103 ) $ (8,003 ) $ (19,336 ) $ (20,124 ) Interest expense: Gevo $ 465 $ 605 $ 1,546 $ 2,127 Gevo Development / Agri-Energy 8 — 13 — Consolidated $ 473 $ 605 $ 1,559 $ 2,127 Depreciation and amortization expense: Gevo $ 53 $ 50 $ 159 $ 152 Gevo Development / Agri-Energy 1,423 1,578 4,595 4,697 Consolidated $ 1,476 $ 1,628 $ 4,754 $ 4,849 Acquisitions of plant, property and equipment: Gevo $ — $ — $ 79 $ 62 Gevo Development / Agri-Energy 106 781 1,325 4,862 Consolidated $ 106 $ 781 $ 1,404 $ 4,924 Revenue by geographic area United States $ 12 $ 5,560 $ 3,853 $ 16,218 Other 180 550 1,152 1,381 Consolidated $ 192 $ 6,110 $ 5,005 $ 17,599 September 30 December 31, 2020 2019 Total assets Gevo $ 152,762 $ 91,861 Gevo Development / Agri-Energy 133,790 143,349 Intercompany eliminations (1) (133,065 ) (141,851 ) Consolidated (2) $ 153,487 $ 93,359 |
Note 1 - Nature of Business, _3
Note 1 - Nature of Business, Financial Condition and Basis of Presentation (Details Textual) $ / shares in Units, $ in Thousands | Aug. 25, 2020USD ($)$ / sharesshares | Jul. 10, 2020USD ($)shares | Jul. 06, 2020USD ($)$ / sharesshares | Jul. 31, 2020shares | Apr. 30, 2020 | Aug. 31, 2019USD ($) | Sep. 30, 2020USD ($)$ / sharesshares | Sep. 30, 2019USD ($) | Sep. 30, 2020USD ($)$ / sharesshares | Sep. 30, 2019USD ($) | Dec. 31, 2019USD ($)shares | Jul. 06, 2025$ / shares | Aug. 31, 2020shares | ||||
Percentage of Salaries Reductions in Reponse to COVID-19 | 20.00% | 20.00% | |||||||||||||||
Restructuring Charges, Total | $ (50) | $ 254 | |||||||||||||||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 80,621 | 80,600 | $ 80,621 | 80,600 | $ 16,302 | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 2,734,198 | 2,734,198 | 56,033,028 | ||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 16,100 | ||||||||||||||||
Stock Issued During Period, Shares Upon Exercise of Warrants (in shares) | shares | 52,953,400 | ||||||||||||||||
Proceeds from Warrant Exercises | $ 16,647 | ||||||||||||||||
Gain (Loss) on Conversion of Notes to Common Stock | $ (543) | (543) | |||||||||||||||
Proceeds from Issuance of Common Stock | 69,985 | $ 9,647 | |||||||||||||||
Income Tax Expense (Benefit), Total | 0 | ||||||||||||||||
Blocksize Capital GmbH [Member] | |||||||||||||||||
Payments for Software, Total | $ 100 | ||||||||||||||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | |||||||||||||||||
Number of Customer | 4 | 4 | 3 | ||||||||||||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Coryton Advanced Fuels Ltd [Member] | |||||||||||||||||
Concentration Risk, Percentage | 27.00% | ||||||||||||||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Total Petrochemicals & Refining USA, Inc. [Member] | |||||||||||||||||
Concentration Risk, Percentage | 20.00% | ||||||||||||||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Eco-Energy, LLC [Member] | |||||||||||||||||
Concentration Risk, Percentage | 14.00% | 57.00% | |||||||||||||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | World Kinect Energy Services [Member] | |||||||||||||||||
Concentration Risk, Percentage | 12.00% | ||||||||||||||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Purina Animal Nutrition, LLC [Member] | |||||||||||||||||
Concentration Risk, Percentage | 13.00% | ||||||||||||||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | HCS Group GmbH [Member] | |||||||||||||||||
Concentration Risk, Percentage | 15.00% | ||||||||||||||||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Coryton Advanced Fuels Ltd [Member] | |||||||||||||||||
Concentration Risk, Percentage | 52.00% | ||||||||||||||||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Total Petrochemicals & Refining USA, Inc. [Member] | |||||||||||||||||
Concentration Risk, Percentage | 39.00% | ||||||||||||||||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Eco-Energy, LLC [Member] | |||||||||||||||||
Concentration Risk, Percentage | 73.00% | 57.00% | 73.00% | ||||||||||||||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Purina Animal Nutrition, LLC [Member] | |||||||||||||||||
Concentration Risk, Percentage | 16.00% | 17.00% | 16.00% | ||||||||||||||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | HCS Group GmbH [Member] | |||||||||||||||||
Concentration Risk, Percentage | 15.00% | ||||||||||||||||
Convertible 2020 Notes [Member] | |||||||||||||||||
Debt Conversion, Original Debt, Amount | $ 2,000 | ||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | shares | 4,169,426 | ||||||||||||||||
Gain (Loss) on Conversion of Notes to Common Stock | $ (500) | ||||||||||||||||
Measurement Input, Price Volatility [Member] | Minimum [Member] | |||||||||||||||||
Warrants and Rights Outstanding, Measurement Input | 1.3 | 1.3 | |||||||||||||||
Measurement Input, Price Volatility [Member] | Maximum [Member] | |||||||||||||||||
Warrants and Rights Outstanding, Measurement Input | 1.41 | 1.41 | |||||||||||||||
Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member] | |||||||||||||||||
Warrants and Rights Outstanding, Measurement Input | 0.003 | 0.003 | |||||||||||||||
Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member] | |||||||||||||||||
Warrants and Rights Outstanding, Measurement Input | 0.0031 | 0.0031 | |||||||||||||||
Measurement Input, Expected Term [Member] | |||||||||||||||||
Warrants and Rights Outstanding, Measurement Input | 5 | 5 | |||||||||||||||
August 2020 Offering [Member] | |||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 45,800 | ||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 21,929,313 | ||||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 1.30 | ||||||||||||||||
At-the-market Offering [Member] | |||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 0 | 1,343,121 | |||||||||||||||
Increase (Decrease) in At-the-Market Offering of Stock | $ 10,700 | ||||||||||||||||
Proceeds from Issuance of Common Stock | $ 2,200 | ||||||||||||||||
Offering of Stock, Remaining Capacity, Shares (in shares) | shares | 6,500,000 | 6,500,000 | |||||||||||||||
Series 2020 B Warrants [Member] | |||||||||||||||||
Units Issued Warrant Per Unit (in shares) | shares | 1 | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | shares | 1 | ||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | [1] | $ 0.01 | $ 0.01 | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 30,000,000 | 9,103,334 | [1] | [1] | 9,103,334 | [1] | |||||||||||
Stock Issued During Period, Shares Upon Exercise of Warrants (in shares) | shares | 9,103,334 | ||||||||||||||||
Proceeds from Warrant Exercises | $ 91 | ||||||||||||||||
Warrants and Rights Outstanding | $ 2,900 | $ 2,900 | |||||||||||||||
Series 2020 B Warrants [Member] | Forecast [Member] | |||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.01 | ||||||||||||||||
The Series 2020 A Warrants [Member] | |||||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | ||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | [1] | $ 0.60 | $ 0.60 | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 30,000,000 | 2,682,166 | [1] | 2,682,166 | [1] | 30,000,000 | [1] | ||||||||||
Stock Issued During Period, Shares Upon Exercise of Warrants (in shares) | shares | 27,317,834 | 27,317,834 | |||||||||||||||
Proceeds from Warrant Exercises | $ 16,400 | $ 16,391 | |||||||||||||||
Warrants and Rights Outstanding | $ 8,300 | $ 8,300 | |||||||||||||||
Series 2020C Warrants [Member] | |||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | shares | 1 | ||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.01 | $ 0.01 | [1] | $ 0.01 | [1] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 16,532,232 | [1] | [1] | 16,532,232 | [1] | 16,532,232 | |||||||||||
Stock Issued During Period, Shares Upon Exercise of Warrants (in shares) | shares | 16,532,232 | ||||||||||||||||
Proceeds from Warrant Exercises | $ 165 | ||||||||||||||||
Class of Warrant or Right, Issuance Price (in dollars per share) | $ / shares | $ 1.29 | ||||||||||||||||
Warrants and Rights Outstanding | $ 21,400 | 21,400 | |||||||||||||||
Series 1 Unit [Member] | |||||||||||||||||
Units Issued During Period (in shares) | shares | 20,896,666 | ||||||||||||||||
Units Issued Price Per Unit (in dollars per share) | $ / shares | $ 0.60 | ||||||||||||||||
Units Issued Common Share Per Unit (in shares) | shares | 1 | ||||||||||||||||
Units Issued Warrant Per Unit (in shares) | shares | 1 | ||||||||||||||||
Series 1 Unit [Member] | Forecast [Member] | |||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.60 | ||||||||||||||||
Series 2 Unit [Member] | |||||||||||||||||
Units Issued During Period (in shares) | shares | 9,103,334 | ||||||||||||||||
Units Issued Price Per Unit (in dollars per share) | $ / shares | $ 0.59 | ||||||||||||||||
Coupon Make Whole Payments [Member] | Convertible 2020 Notes [Member] | |||||||||||||||||
Debt Conversion, Original Debt, Amount | $ 300 | ||||||||||||||||
Gevo [Member] | |||||||||||||||||
Restructuring Charges, Total | 20 | ||||||||||||||||
Gevo Development / Agri-Energy [Member] | |||||||||||||||||
Restructuring Charges, Total | $ 300 | ||||||||||||||||
Workforce Reduced at Luverne Facility [Member] | |||||||||||||||||
Restructuring and Related Cost, Number of Positions Eliminated | 26 | ||||||||||||||||
Workforce Reduced at Corporate Headquarters [Member] | |||||||||||||||||
Restructuring and Related Cost, Number of Positions Eliminated | 4 | ||||||||||||||||
Employee Severance [Member] | |||||||||||||||||
Restructuring Charges, Total | $ 96 | ||||||||||||||||
Lease Agreement [Member] | |||||||||||||||||
Restructuring Charges, Total | $ 158 | ||||||||||||||||
Officers [Member] | |||||||||||||||||
Percentage of Salaries Reductions in Reponse to COVID-19 | 20.00% | ||||||||||||||||
Certain Remaining Employees [Member] | |||||||||||||||||
Percentage of Salaries Reductions in Reponse to COVID-19 | 20.00% | ||||||||||||||||
COVID-19 [Member] | |||||||||||||||||
Percentage of Revenue Reduction | 97.00% | ||||||||||||||||
[1] | The Series 2020-A, Series 2020-B and Series 2020-C Warrants are equity-classified warrants. |
Note 1 - Nature of Business, _4
Note 1 - Nature of Business, Financial Condition and Basis of Presentation - Restructuring Expenses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Balance | ||||
Additions | $ (50) | 254 | ||
Payments | (254) | |||
Balance | ||||
Employee Severance [Member] | ||||
Balance | ||||
Additions | 96 | |||
Payments | (96) | |||
Balance | ||||
Lease Agreement [Member] | ||||
Balance | ||||
Additions | 158 | |||
Payments | (158) | |||
Balance |
Note 2 - Earnings Per Share - S
Note 2 - Earnings Per Share - Securities that Potentially Dilute Calculation of Diluted Earnings Per Share (Details) - shares | 3 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Potentially dilute securities (in shares) | 8,657,525 | 1,187,033 |
Share-based Payment Arrangement, Option [Member] | ||
Potentially dilute securities (in shares) | 1,552 | 1,564 |
Stock Appreciation Rights (SARs) [Member] | ||
Potentially dilute securities (in shares) | 132,566 | 132,566 |
Convertible 2020/21 Notes [Member] | ||
Potentially dilute securities (in shares) | 5,789,209 | |
Convertible 2020 Notes [Member] | ||
Potentially dilute securities (in shares) | 997,914 | |
Warrant [Member] | ||
Potentially dilute securities (in shares) | 52,032 | 54,989 |
Warrants Classified as Equity [Member] | ||
Potentially dilute securities (in shares) | 2,682,166 |
Note 3 - Revenues From Contra_3
Note 3 - Revenues From Contracts With Customers and Other Revenues (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 192 | $ 6,104 | $ 5,005 | $ 17,565 | |
Contract with Customer, Asset, after Allowance for Credit Loss, Total | 0 | 0 | $ 0 | ||
Contract with Customer, Asset, Credit Loss Expense (Reversal) | 0 | 0 | |||
Transferred at Point in Time [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 122 | 6,104 | 4,889 | 17,565 | |
Transferred at Point in Time [Member] | Variable Consideration or Multiple Performance Obligations [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | 0 | 0 | |
Revenue, Remaining Performance Obligation, Amount | 0 | 0 | 0 | ||
Transferred over Time [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 70 | 116 | |||
Transferred over Time [Member] | Variable Consideration or Multiple Performance Obligations [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | $ 0 | 0 | $ 0 | |
Revenue, Remaining Performance Obligation, Amount | $ 0 | $ 0 | $ 0 |
Note 3 - Revenues From Contra_4
Note 3 - Revenues From Contracts With Customers and Other Revenues - Disaggregated Revenues (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 192 | $ 6,104 | $ 5,005 | $ 17,565 |
Other revenues | 6 | 34 | ||
Total revenues | 192 | 6,110 | 5,005 | 17,599 |
Transferred at Point in Time [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 122 | 6,104 | 4,889 | 17,565 |
Other revenues | ||||
Total revenues | 122 | 6,104 | 4,889 | 17,565 |
Transferred over Time [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 70 | 116 | ||
Other revenues | 6 | 34 | ||
Total revenues | 70 | 6 | 116 | 34 |
Ethanol Sales and Related Products [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 21 | 5,554 | 3,804 | 16,184 |
Other revenues | ||||
Total revenues | 21 | 5,554 | 3,804 | 16,184 |
Hydrocarbon [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 101 | 550 | 1,085 | 1,381 |
Other revenues | ||||
Total revenues | 101 | 550 | 1,085 | 1,381 |
Grant and Other [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 70 | 116 | ||
Other revenues | 6 | 34 | ||
Total revenues | $ 70 | $ 6 | $ 116 | $ 34 |
Note 4 - Leases, Right-to-use_3
Note 4 - Leases, Right-to-use Assets and Related Liabilities (Details Textual) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Lessee, Operating Lease, Right-of-Use Asset, Not yet Commenced, Fair Value | $ 2 | $ 3 |
Note 4 - Leases, Right-to-use_4
Note 4 - Leases, Right-to-use Assets and Related Liabilities - Lease Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Financing lease cost | $ 1 | $ 3 | ||
Operating lease cost | 11 | 435 | 545 | 1,166 |
Short-Term lease cost | 376 | 110 | 556 | 315 |
Variable lease cost | 36 | 21 | 108 | 86 |
Total lease cost | $ 424 | $ 566 | 1,212 | 1,567 |
Operating cash flows from finance lease | 2 | |||
Operating cash flows from operating leases | 545 | 1,166 | ||
Finance cash flows from finance lease | 1 | |||
Right-of-use asset purchased with financing lease | $ 13 | |||
Weighted-average remaining lease term, financing lease (months) (Month) | 4 years 150 days | 4 years 150 days | ||
Weighted-average remaining lease term, operating leases (months) (Month) | 300 days | 1 year 300 days | 300 days | 1 year 300 days |
Weighted-average discount rate - financing lease | 21.00% | 21.00% | ||
Weighted-average discount rate - operating leases | 12.00% | 12.00% | 12.00% | 12.00% |
Note 4 - Leases, Right-to-use_5
Note 4 - Leases, Right-to-use Assets and Related Liabilities - Future Minimum Payments Under Non-cancelable Operating Leases (Details) $ in Thousands | Sep. 30, 2020USD ($) |
2020 (remaining), financing leases | $ 1 |
2020 (remaining), operating leases | 77 |
2021, financing leases | 4 |
2021, operating leases | 180 |
2022, financing leases | 4 |
2022, operating leases | |
2023, financing leases | 4 |
2023, operating leases | |
2024 and thereafter, financing leases | 5 |
2024 and thereafter, operating leases | |
Total, financing leases | 18 |
Total, operating leases | 257 |
Less: Amounts representing present value discounts, financing leases | (6) |
Less: Amounts representing present value discounts, operating leases | (10) |
Accounts Payable, Accrued Liabilities and Other Noncurrent Liabilities [Member] | |
Total lease liabilities, financing leases | 12 |
Total lease liabilities, operating leases | $ 247 |
Note 5 - Inventories - Componen
Note 5 - Inventories - Components of Inventory Balances (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Spare parts | $ 1,505 | $ 1,521 |
Total inventories | 2,551 | 3,201 |
Corn [Member] | ||
Raw materials | 267 | |
Enzymes and Other Inputs [Member] | ||
Raw materials | 136 | 184 |
Jet Fuels, Isooctane and Isooctene [Member] | ||
Finished goods | 881 | 571 |
Isobutanol [Member] | ||
Finished goods | 135 | |
Ethanol [Member] | ||
Finished goods | 93 | |
Distiller's Grains [Member] | ||
Finished goods | 54 | |
Agri-Energy [Member] | ||
Work in process | 254 | |
Gevo [Member] | ||
Work in process | $ 29 | $ 122 |
Note 6 - Property, Plant and _3
Note 6 - Property, Plant and Equipment - Property, Plant and Equipment by Classification (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2020 | Dec. 31, 2019 | |
Property, plant, and equipment, gross | $ 121,340 | $ 120,087 |
Less accumulated depreciation and amortization | (58,016) | (53,391) |
Property, plant and equipment, net | $ 63,324 | 66,696 |
Retrofit Assets [Member] | ||
Property, plant and equipment, useful life (Year) | 20 years | |
Property, plant, and equipment, gross | $ 70,820 | 70,820 |
Machinery and Equipment [Member] | ||
Property, plant and equipment, useful life (Year) | 10 years | |
Property, plant, and equipment, gross | $ 17,374 | 17,413 |
Site Improvement [Member] | ||
Property, plant and equipment, useful life (Year) | 10 years | |
Property, plant, and equipment, gross | $ 7,157 | 7,054 |
Lab Equipment, Furniture and Fixtures, and Vehicles [Member] | ||
Property, plant and equipment, useful life (Year) | 5 years | |
Property, plant, and equipment, gross | $ 6,396 | 6,393 |
Demonstration Plant [Member] | ||
Property, plant and equipment, useful life (Year) | 2 years | |
Property, plant, and equipment, gross | $ 3,597 | 3,597 |
Building [Member] | ||
Property, plant and equipment, useful life (Year) | 10 years | |
Property, plant, and equipment, gross | $ 2,543 | 2,543 |
Leasehold Improvements [Member] | ||
Property, plant, and equipment, gross | $ 2,523 | 2,523 |
Leasehold Improvements [Member] | Minimum [Member] | ||
Property, plant and equipment, useful life (Year) | 2 years | |
Leasehold Improvements [Member] | Maximum [Member] | ||
Property, plant and equipment, useful life (Year) | 5 years | |
Computer, Office Equipment, and Software [Member] | ||
Property, plant, and equipment, gross | $ 2,021 | 2,034 |
Computer, Office Equipment, and Software [Member] | Minimum [Member] | ||
Property, plant and equipment, useful life (Year) | 3 years | |
Computer, Office Equipment, and Software [Member] | Maximum [Member] | ||
Property, plant and equipment, useful life (Year) | 6 years | |
Construction in Progress [Member] | ||
Property, plant, and equipment, gross | $ 8,909 | $ 7,710 |
Note 6 - Property, Plant and _4
Note 6 - Property, Plant and Equipment - Depreciation and Amortization Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Depreciation and amortization | $ 1,470 | $ 1,608 | $ 4,738 | $ 4,789 |
Cost of Sales [Member] | ||||
Depreciation and amortization | 1,418 | 1,578 | 4,580 | 4,697 |
Operating Expense [Member] | ||||
Depreciation and amortization | $ 52 | $ 30 | $ 158 | $ 92 |
Note 7 - Embedded Derivatives_3
Note 7 - Embedded Derivatives Liabilities (Details Textual) $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||||||
Jun. 30, 2017 | Sep. 30, 2020USD ($)shares | Sep. 30, 2019USD ($) | Sep. 30, 2020USD ($)shares | Sep. 30, 2019USD ($) | Aug. 31, 2020shares | Aug. 25, 2020shares | Jul. 31, 2020shares | Jul. 06, 2020shares | Jan. 31, 2020 | Jan. 10, 2020 | Dec. 31, 2019USD ($)shares | Apr. 19, 2017 | ||||
Embedded Derivative, Fair Value of Embedded Derivative, Net, Total | $ | $ 30 | $ 30 | $ 0 | |||||||||||||
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net, Total | $ | $ 247 | $ (29) | $ 394 | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 2,734,198 | 2,734,198 | 56,033,028 | |||||||||||||
The Series 2020 A Warrants [Member] | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 2,682,166 | [1] | 2,682,166 | [1] | 30,000,000 | 30,000,000 | [1] | |||||||||
Series 2020 B Warrants [Member] | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | [1] | [1] | 9,103,334 | 30,000,000 | 9,103,334 | [1] | ||||||||||
Series 2020C Warrants [Member] | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | [1] | [1] | 16,532,232 | 16,532,232 | 16,532,232 | [1] | ||||||||||
Embedded Derivative, 2020/21 Convertible Notes [Member] | ||||||||||||||||
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net, Total | $ | $ 200 | $ 0 | $ (30) | $ 400 | ||||||||||||
Convertible 2020 Notes [Member] | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | 12.00% | ||||||||||||||
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger | 150.00% | |||||||||||||||
Debt Instrument, Convertible, Threshold Consecutive Trading Days | 10 | |||||||||||||||
Number of Embedded Derivative | 1 | |||||||||||||||
Convertible 2017 Notes [Member] | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||||||||||||||
Convertible 2020/21 Notes [Member] | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | 12.00% | ||||||||||||||
[1] | The Series 2020-A, Series 2020-B and Series 2020-C Warrants are equity-classified warrants. |
Note 7 - Embedded Derivatives_4
Note 7 - Embedded Derivatives Liabilities - Schedule of Inputs to Lattice Model Used to Value Embedded Derivatives (Details) | Sep. 30, 2020 | Dec. 31, 2019 |
Measurement Input, Exercise Price [Member] | ||
Embedded derivative liability, measurement input | 1 | 2.31 |
Measurement Input, Conversion Rate, Per 1000 dollars [Member] | ||
Embedded derivative liability, measurement input | 409.5 | 67.95 |
Measurement Input, Conversion Price [Member] | ||
Embedded derivative liability, measurement input | 2.44 | 14.72 |
Measurement Input, Risk Free Interest Rate [Member] | ||
Embedded derivative liability, measurement input | 0.001 | 0.0152 |
Measurement Input, Price Volatility [Member] | ||
Embedded derivative liability, measurement input | 2.47 | 0.6 |
Measurement Input, Entity Credit Risk [Member] | ||
Embedded derivative liability, measurement input | 0.36 | 0.27 |
Note 7 - Embedded Derivatives_5
Note 7 - Embedded Derivatives Liabilities - Schedule of Shares Issued Upon Exercise of Warrants (Details) - $ / shares | 9 Months Ended | ||||||||
Sep. 30, 2020 | Aug. 31, 2020 | Aug. 25, 2020 | Jul. 31, 2020 | Jul. 06, 2020 | Dec. 31, 2019 | ||||
Shares Underlying Warrants (in shares) | 2,734,198 | 56,033,028 | |||||||
Series D Warrants (in shares) | 53,298,830 | ||||||||
Series D Warrants [Member] | |||||||||
Warrant, Issuance Date | Dec. 11, 2015 | ||||||||
Warrants, Expiration date | Dec. 11, 2020 | ||||||||
Warrant Exercise Price (in dollars per share) | $ 40 | ||||||||
Shares Underlying Warrants (in shares) | 47 | 25,125 | |||||||
Series D Warrants (in shares) | 25,078 | ||||||||
Series F Warrants [Member] | |||||||||
Warrant, Issuance Date | Apr. 1, 2016 | ||||||||
Warrants, Expiration date | Apr. 1, 2021 | ||||||||
Warrant Exercise Price (in dollars per share) | $ 40 | ||||||||
Shares Underlying Warrants (in shares) | 14,041 | 25,733 | |||||||
Series D Warrants (in shares) | 11,692 | ||||||||
Series I Warrants [Member] | |||||||||
Warrant, Issuance Date | Sep. 13, 2016 | ||||||||
Warrants, Expiration date | Sep. 13, 2021 | ||||||||
Warrant Exercise Price (in dollars per share) | $ 220 | ||||||||
Shares Underlying Warrants (in shares) | 35,368 | 35,368 | |||||||
Series D Warrants (in shares) | |||||||||
Series K Warrants [Member] | |||||||||
Warrant, Issuance Date | Feb. 17, 2017 | ||||||||
Warrants, Expiration date | Feb. 17, 2022 | ||||||||
Warrant Exercise Price (in dollars per share) | $ 2 | ||||||||
Shares Underlying Warrants (in shares) | 2,576 | 311,236 | |||||||
Series D Warrants (in shares) | 308,660 | ||||||||
The Series 2020 A Warrants [Member] | |||||||||
Warrant, Issuance Date | [1] | Jul. 6, 2020 | |||||||
Warrants, Expiration date | [1] | Jul. 6, 2025 | |||||||
Warrant Exercise Price (in dollars per share) | [1] | $ 0.60 | |||||||
Shares Underlying Warrants (in shares) | 2,682,166 | [1] | 30,000,000 | 30,000,000 | [1] | ||||
Series D Warrants (in shares) | [1] | 27,317,834 | |||||||
Series 2020 B Warrants [Member] | |||||||||
Warrant, Issuance Date | [1] | Jul. 6, 2020 | |||||||
Warrants, Expiration date | [1] | Jul. 6, 2025 | |||||||
Warrant Exercise Price (in dollars per share) | [1] | $ 0.01 | |||||||
Shares Underlying Warrants (in shares) | [1] | 9,103,334 | 30,000,000 | 9,103,334 | [1] | ||||
Series D Warrants (in shares) | [1] | 9,103,334 | |||||||
Series 2020C Warrants [Member] | |||||||||
Warrant, Issuance Date | [1] | Aug. 25, 2020 | |||||||
Warrants, Expiration date | [1] | Aug. 25, 2025 | |||||||
Warrant Exercise Price (in dollars per share) | $ 0.01 | [1] | $ 0.01 | ||||||
Shares Underlying Warrants (in shares) | [1] | 16,532,232 | 16,532,232 | 16,532,232 | [1] | ||||
Series D Warrants (in shares) | [1] | 16,532,232 | |||||||
[1] | The Series 2020-A, Series 2020-B and Series 2020-C Warrants are equity-classified warrants. |
Note 7 - Embedded Derivatives_6
Note 7 - Embedded Derivatives Liabilities - Exercise of Warrants (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | |
Common Stock Issued (in shares) | 52,953,400 | ||
Proceeds | $ 16,647 | ||
The Series 2020 A Warrants [Member] | |||
Common Stock Issued (in shares) | 27,317,834 | 27,317,834 | |
Proceeds | $ 16,400 | $ 16,391 | |
Series 2020 B Warrants [Member] | |||
Common Stock Issued (in shares) | 9,103,334 | ||
Proceeds | $ 91 | ||
Series 2020C Warrants [Member] | |||
Common Stock Issued (in shares) | 16,532,232 | ||
Proceeds | $ 165 |
Note 8 - Accounts Payable and_3
Note 8 - Accounts Payable and Accrued Liabilities - Components Accounts Payable and Accrued Liabilities in Consolidated Balance Sheets (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Accrued utilities and supplies | $ 712 | $ 645 |
Accounts payable - trade | 1,441 | 1,474 |
Accrued employee compensation | 1,593 | 1,946 |
Other accrued liabilities | 1,158 | 1,613 |
Total accounts payable and accrued liabilities | $ 4,904 | $ 5,678 |
Note 9 - Debt (Details Textual)
Note 9 - Debt (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Jul. 10, 2020 | Jan. 10, 2020 | Apr. 19, 2017 | Apr. 30, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | Jun. 30, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | Jan. 31, 2020 | Dec. 31, 2019 | Jun. 30, 2017 |
Gain (Loss) on Extinguishment of Debt, Total | $ (726) | |||||||||||
Gain (Loss) on Conversion of Notes to Common Stock | (543) | (543) | ||||||||||
Notes Payable, Other Payables [Member] | ||||||||||||
Long-term Debt, Total | 1,287 | 1,287 | $ 749 | |||||||||
Debt Instrument, Periodic Payment, Total | $ 100 | |||||||||||
Notes Payable, Other Payables [Member] | Minimum [Member] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | |||||||||||
Notes Payable, Other Payables [Member] | Maximum [Member] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 21.00% | |||||||||||
Convertible 2020 Notes [Member] | ||||||||||||
Debt Conversion, Original Debt, Amount | $ 2,000 | |||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 4,169,426 | |||||||||||
Gain (Loss) on Conversion of Notes to Common Stock | $ (500) | |||||||||||
Convertible 2020 Notes [Member] | Coupon Make Whole Payments [Member] | ||||||||||||
Debt Conversion, Original Debt, Amount | $ 300 | |||||||||||
Convertible 2020 Notes [Member] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | 12.00% | ||||||||||
Debt Instrument, Interest Rate, Paid In Kind Percentage | 2.00% | |||||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 14.72 | |||||||||||
Debt Instrument, Convertible, Conversion Ratio | 0.0679 | |||||||||||
Long-term Debt, Total | 14,100 | |||||||||||
Gain (Loss) on Extinguishment of Debt, Total | (700) | |||||||||||
Beneficial Ownership Limitation, Percentage | 4.99% | |||||||||||
Beneficial Ownership Limitation Percentage, Notice (Day) | 61 days | |||||||||||
Beneficial Ownership Limitation After Notice, Percentage | 9.99% | |||||||||||
Convertible 2020/21 Notes [Member] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | 12.00% | ||||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 2.442 | |||||||||||
Debt Instrument, Convertible, Conversion Ratio | 0.4095 | |||||||||||
Debt Instrument, Face Amount | $ 14,400 | |||||||||||
Maximum Principal Amount of Notes Issuable Upon Option Exercise | $ 7,100 | |||||||||||
Original Issue Discount | 2.00% | |||||||||||
Debt Instrument, Indenture, Maturity Extension, Trigger, Outstanding Balance | $ 7,000 | |||||||||||
Debt Instrument, PIK Interest | 4.00% | |||||||||||
Debt Instrument, Conversion Price Reduction, Discount Rate | 10.00% | |||||||||||
SBA Loans [Member] | ||||||||||||
Debt Instrument, Periodic Payment, Total | $ 60 | |||||||||||
Proceeds from Paycheck Protection Program Under CARES Act | $ 1,000 | |||||||||||
SBA Loans [Member] | Notes Payable, Other Payables [Member] | ||||||||||||
Long-term Debt, Total | $ 1,006 | $ 1,006 |
Note 9 - Debt - Information Per
Note 9 - Debt - Information Pertaining to Convertible Notes (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Balance | ||||
Original issue discount paid with 2020/21 Notes | 282 | |||
Change in fair value of 2020/21 Notes embedded derivative | $ (247) | 29 | $ (394) | |
Balance | 29 | 29 | ||
Embedded Derivative, Convertible Notes [Member] | ||||
Balance | ||||
Fair value of 2020/21 embedded derivative | 2,848 | |||
Change in fair value of 2020/21 Notes embedded derivative | (2,819) | |||
Balance | 29 | 29 | ||
Convertible Debt [Member] | ||||
Balance | (123) | |||
Balance | (30) | |||
Balance | 13,900 | |||
Amortization of debt discount | 270 | |||
Amortization of debt issue costs | 20 | |||
Paid-in-kind interest | 316 | |||
Original issue discount paid with 2020/21 Notes | (282) | |||
Conversion of 2020/21 Notes into common stock | ||||
Conversion of 2020/21 Notes into common stock | ||||
Conversion of 2020/21 Notes into common stock | (2,000) | |||
Balance | (135) | (135) | ||
Balance | (10) | (10) | ||
Balance | 12,506 | 12,506 | ||
Convertible 2020 Notes [Member] | ||||
Balance | 13,900 | |||
Convertible 2020 Notes [Member] | Convertible Debt [Member] | ||||
Balance | 14,053 | |||
Paid-in-kind interest | 47 | |||
Exchange of 2020 Notes for 2020/21 Notes | (14,100) | |||
Original issue discount paid with 2020/21 Notes | ||||
Conversion of 2020/21 Notes into common stock | ||||
Balance | ||||
Convertible 2020/21 Notes [Member] | ||||
Balance | 12,506 | 12,506 | ||
Convertible 2020/21 Notes [Member] | Convertible Debt [Member] | ||||
Balance | ||||
Paid-in-kind interest | 269 | |||
Exchange of 2020 Notes for 2020/21 Notes | 14,100 | |||
Original issue discount paid with 2020/21 Notes | 282 | |||
Conversion of 2020/21 Notes into common stock | (2,000) | |||
Balance | 12,651 | 12,651 | ||
Convertible Debt and Embedded Derivative Liabilities [Member] | ||||
Balance | 13,900 | |||
Amortization of debt discount | 270 | |||
Amortization of debt issue costs | 20 | |||
Paid-in-kind interest | 316 | |||
Conversion of 2020/21 Notes into common stock | (2,000) | |||
Fair value of 2020/21 embedded derivative | 2,848 | |||
Change in fair value of 2020/21 Notes embedded derivative | (2,819) | |||
Balance | $ 12,535 | $ 12,535 |
Note 9 - Debt - Notes Payable -
Note 9 - Debt - Notes Payable - Other (Details) - Notes Payable, Other Payables [Member] - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Notes payable, other | $ 1,287 | $ 749 |
Less current portion | (704) | (516) |
Long-term portion | 583 | 233 |
SBA Loans [Member] | ||
Notes payable, other | 1,006 | |
Notes Payable, Equipment [Member] | ||
Notes payable, other | 281 | 321 |
Notes Payable, Insurance [Member] | ||
Notes payable, other | $ 428 |
Note 9 - Debt - Future Payments
Note 9 - Debt - Future Payments for Notes Payable - Other (Details) - Notes Payable, Other Payables [Member] - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
2020 (remaining) | $ 134 | |
2021 | 763 | |
2022 | 290 | |
2023 | 65 | |
2024 and thereafter | 35 | |
Long-term Debt, Total | $ 1,287 | $ 749 |
Note 10 - Equity Incentive Pl_2
Note 10 - Equity Incentive Plans (Details Textual) - shares | Jul. 06, 2020 | Jul. 31, 2020 | Apr. 30, 2020 | Mar. 31, 2020 | Feb. 29, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | Jun. 03, 2020 | Jun. 10, 2019 |
Percentage of Salaries Reductions in Reponse to COVID-19 | 20.00% | 20.00% | ||||||||||
Restricted Stock [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 4,454,046 | |||||||||||
Stock Incentive Plan 2010 [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 1,242,905 | 1,242,905 | 6,980,074 | 3,266,661 | ||||||||
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 3,713,413 | |||||||||||
Stock Incentive Plan 2010 [Member] | Restricted Stock [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 115,156 | 239,155 | ||||||||||
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares) | 245,990 | 77,768 | ||||||||||
Stock Incentive Plan 2010 [Member] | Share-based Payment Arrangement, Tranche One [Member] | Restricted Stock [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 3,989,140 | 109,337 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||||||||||
Stock Incentive Plan 2010 [Member] | Share-based Payment Arrangement, Tranche Two [Member] | Restricted Stock [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 101,730 | 29,032 | 1,258 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 2 years | 2 years | ||||||||||
Employee Stock Purchase Plan [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 190 | |||||||||||
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 190 | |||||||||||
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares) | 4,055 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 85.00% | |||||||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares) | 0 | 0 |
Note 11 - Stock-based Compens_3
Note 11 - Stock-based Compensation (Details Textual) $ / shares in Units, $ in Millions | 9 Months Ended |
Sep. 30, 2020USD ($)$ / shares | |
Share-based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit (in dollars per share) | $ / shares | $ 20 |
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit (in dollars per share) | $ / shares | $ 99,300 |
Restricted Stock [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ | $ 1.5 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ | $ 3.1 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 219 days |
Note 11 - Stock-based Compens_4
Note 11 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Stock-based compensation | $ 674 | $ 568 | $ 1,347 | $ 938 |
Stock Options Issued to Employees and Board Members [Member] | Research and Development Expense [Member] | ||||
Stock-based compensation | 142 | 68 | 353 | 129 |
Stock Options Issued to Employees and Board Members [Member] | Selling, General and Administrative Expenses [Member] | ||||
Stock-based compensation | 500 | 236 | 1,122 | 581 |
Restricted Stock [Member] | Research and Development Expense [Member] | ||||
Stock-based compensation | 16 | 132 | (61) | 114 |
Restricted Stock [Member] | Selling, General and Administrative Expenses [Member] | ||||
Stock-based compensation | $ 16 | $ 132 | $ (67) | $ 114 |
Note 11 - Stock-based Compens_5
Note 11 - Stock-based Compensation - Stock Option Award Activity (Details) - $ / shares | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2020 | Dec. 31, 2019 | ||
Options outstanding (in shares) | 1,561 | ||
Options outstanding, weighted average exercise price (in dollars per share) | [1] | $ 928.79 | |
Options outstanding, weighted average remaining contractual term (Year) | 5 years 302 days | 6 years 204 days | |
Granted (in shares) | |||
Granted, weighted average exercise price (in dollars per share) | [1] | ||
Canceled or forfeited (in shares) | (9) | ||
Canceled or forfeited, weighted average exercise price (in dollars per share) | [1] | $ 72,891.04 | |
Exercised (in shares) | |||
Exercised, weighted average exercise price (in dollars per share) | [1] | ||
Options outstanding (in shares) | 1,552 | 1,561 | |
Options outstanding, weighted average exercise price (in dollars per share) | [1] | $ 556.13 | $ 928.79 |
Options exercisable (in shares) | 1,552 | ||
Options exercisable, weighted average exercise price (in dollars per share) | [1] | $ 556.13 | |
Options exercisable, weighted average remaining contractual term (Year) | 5 years 302 days | ||
Options vested and expected to vest (in shares) | 1,552 | ||
Options vested and expected to vest, weighted average exercise price (in dollars per share) | [1] | $ 556.13 | |
Options vested and expected to vest, weighted average remaining contractual term (Year) | 5 years 302 days | ||
[1] | Exercise price of options outstanding range from $20.00 to $99,300.00 as of September 30, 2020. |
Note 11 - Stock-based Compens_6
Note 11 - Stock-based Compensation - Non-vested Restricted Stock (Details) - Restricted Stock [Member] | 9 Months Ended |
Sep. 30, 2020$ / sharesshares | |
Non-vested (in shares) | shares | 1,308,613 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 1.91 |
Granted (in shares) | shares | 4,454,046 |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0.63 |
Vested (in shares) | shares | (1,015,336) |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 1.47 |
Canceled or forfeited (in shares) | shares | (6,974) |
Canceled or forfeited, weighted average grant date fair value (in dollars per share) | $ / shares | $ 1.90 |
Non-vested (in shares) | shares | 4,740,349 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0.80 |
Note 12 - Commitments and Con_2
Note 12 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Accrual for Environmental Loss Contingencies, Ending Balance | $ 0 | |
Indemnification Agreement [Member] | ||
Loss Contingency Accrual, Ending Balance | $ 0 | $ 0 |
Note 13 - Fair Value Measurem_3
Note 13 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Embedded Derivative, Fair Value of Embedded Derivative Liability | $ 29 | |
Series F Warrants and Series K Warrants [Member] | ||
Warrants and Rights Outstanding | $ 0 | $ 10 |
Note 13 - Fair Value Measurem_4
Note 13 - Fair Value Measurements - Schedule of Carrying Value and Fair Value by Fair Value Hierarchy of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Fair Value, Recurring [Member] | Embedded Derivative [Member] | ||
Derivative liability, fair value | $ 29 | |
Fair Value, Recurring [Member] | Embedded Derivative [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Derivative liability, fair value | ||
Fair Value, Recurring [Member] | Embedded Derivative [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivative liability, fair value | ||
Fair Value, Recurring [Member] | Embedded Derivative [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Derivative liability, fair value | 29 | |
Fair Value, Recurring [Member] | Warrant [Member] | ||
Derivative liability, fair value | $ 8 | |
Fair Value, Recurring [Member] | Warrant [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Derivative liability, fair value | ||
Fair Value, Recurring [Member] | Warrant [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivative liability, fair value | ||
Fair Value, Recurring [Member] | Warrant [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Derivative liability, fair value | 8 | |
Fair Value, Nonrecurring [Member] | Corn and Finished Goods Inventory [Member] | ||
Corn and finished goods inventory, fair value | 599 | 940 |
Fair Value, Nonrecurring [Member] | Corn and Finished Goods Inventory [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Corn and finished goods inventory, fair value | 267 | |
Fair Value, Nonrecurring [Member] | Corn and Finished Goods Inventory [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Corn and finished goods inventory, fair value | 599 | 673 |
Fair Value, Nonrecurring [Member] | Corn and Finished Goods Inventory [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Corn and finished goods inventory, fair value |
Note 13 - Fair Value Measurem_5
Note 13 - Fair Value Measurements - Schedule of Fair Value Measurements Using Level 3 Inputs (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2020USD ($) | |
Derivative Financial Instruments, Liabilities [Member] | |
Balance, December 31, 2019 | $ 8 |
Issue of 2020/21 Notes embedded derivative liability | |
Total (gains) included in earnings | (8) |
Balance, September 30, 2020 | |
Embedded Derivative, 2020/21 Convertible Notes [Member] | |
Balance, December 31, 2019 | |
Issue of 2020/21 Notes embedded derivative liability | 2,848 |
Total (gains) included in earnings | (2,819) |
Balance, September 30, 2020 | $ 29 |
Note 14 - Segments (Details Tex
Note 14 - Segments (Details Textual) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2020USD ($) | Dec. 31, 2019USD ($) | |
Number of Operating Segments | 2 | |
Intercompany Sales | $ 0.1 | $ 0.4 |
Note 14 - Segments - Informatio
Note 14 - Segments - Information on Business Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | ||
Total revenues | $ 192 | $ 6,110 | $ 5,005 | $ 17,599 | ||
Loss from operations | (6,103) | (8,003) | (19,336) | (20,124) | ||
Interest expense | 473 | 605 | 1,559 | 2,127 | ||
Depreciation and amortization | 1,476 | 1,628 | 4,754 | 4,849 | ||
Acquisitions of plant, property and equipment | 106 | 781 | 1,404 | 4,924 | ||
Assets | [1] | 153,487 | 153,487 | $ 93,359 | ||
UNITED STATES | ||||||
Total revenues | 12 | 5,560 | 3,853 | 16,218 | ||
Non-US [Member] | ||||||
Total revenues | 180 | 550 | 1,152 | 1,381 | ||
Intersegment Eliminations [Member] | ||||||
Assets | [2] | (133,065) | (133,065) | (141,851) | ||
Gevo [Member] | ||||||
Total revenues | 176 | 550 | 1,198 | 1,381 | ||
Loss from operations | (3,831) | (3,830) | (9,896) | (9,463) | ||
Interest expense | 465 | 605 | 1,546 | 2,127 | ||
Depreciation and amortization | 53 | 50 | 159 | 152 | ||
Acquisitions of plant, property and equipment | 79 | 62 | ||||
Gevo [Member] | Operating Segments [Member] | ||||||
Assets | 152,762 | 152,762 | 91,861 | |||
Gevo Development / Agri-Energy [Member] | ||||||
Total revenues | 16 | 5,560 | 3,807 | 16,218 | ||
Loss from operations | (2,272) | (4,173) | (9,440) | (10,661) | ||
Interest expense | 8 | 13 | ||||
Depreciation and amortization | 1,423 | 1,578 | 4,595 | 4,697 | ||
Acquisitions of plant, property and equipment | 106 | $ 781 | 1,325 | $ 4,862 | ||
Gevo Development / Agri-Energy [Member] | Operating Segments [Member] | ||||||
Assets | $ 133,790 | $ 133,790 | $ 143,349 | |||
[1] | All other significant non-cash items relate to the activities of Gevo. | |||||
[2] | Includes intercompany sales of $0.1 million during the nine months ended September 30, 2020 and $0.4 million for the year ended December 31, 2019 for hydrocarbon sales. |