Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Feb. 28, 2023 | Jun. 30, 2022 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0000738214 | ||
Entity Registrant Name | AEMETIS, INC | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2022 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2022 | ||
Document Transition Report | false | ||
Entity File Number | 000-51354 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 26-1407544 | ||
Entity Address, Address Line One | 20400 Stevens Creek Blvd., Suite 700 | ||
Entity Address, City or Town | Cupertino | ||
Entity Address, State or Province | CA | ||
Entity Address, Postal Zip Code | 95014 | ||
City Area Code | 408 | ||
Local Phone Number | 213-0940 | ||
Title of 12(b) Security | Common Stock, $0.001 par value | ||
Trading Symbol | AMTX | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | true | ||
Entity Shell Company | false | ||
Entity Public Float | $ 145,600,000 | ||
Entity Common Stock, Shares Outstanding | 36,652,122 | ||
Auditor Firm ID | 49 | ||
Auditor Name | RSM US LLP | ||
Auditor Location | Des Moines, Iowa |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 4,313 | $ 7,751 |
Accounts receivable, net of allowance for doubtful accounts | 1,264 | 1,574 |
Inventories, net of allowance for excess and obsolete inventory of $1,040 as of December 31, 2022 and 2021 | 4,658 | 5,126 |
Prepaid expenses | 4,248 | 5,598 |
Other current assets | 3,653 | 644 |
Total current assets | 18,136 | 20,693 |
Property, plant and equipment, net | 180,441 | 135,101 |
Operating lease right-of-use assets | 2,449 | 2,462 |
Other assets | 6,088 | 2,575 |
Total assets | 207,114 | 160,831 |
Current liabilities: | ||
Accounts payable | 26,168 | 16,415 |
Current portion of long term debt | 12,465 | 8,192 |
Short term borrowings | 36,754 | 14,586 |
Accrued property taxes | 1,206 | 6,830 |
Accrued contingent litigation fees | 0 | 6,200 |
Current portion of operating lease liability | 338 | 260 |
Other current liabilities | 7,268 | 5,872 |
Total current liabilities | 88,281 | 65,330 |
Long term liabilities: | ||
Senior secured notes and revolving notes | 155,843 | 121,451 |
EB-5 notes | 29,500 | 32,500 |
Other long term debt | 11,678 | 12,038 |
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Share Value, Amount, Noncurrent | 116,000 | 45,000 |
Operating lease liability | 2,189 | 2,318 |
Other long term liabilities | 5,477 | 2,454 |
Total long term liabilities | 320,687 | 215,739 |
Stockholders' deficit: | ||
Common stock, $0.001 par value; 80,000 authorized; 35,869 and 33,461 shares issued and outstanding each period, respectively | 36 | 33 |
Additional paid-in capital | 232,546 | 205,305 |
Accumulated deficit | (428,985) | (321,227) |
Accumulated other comprehensive loss | (5,452) | (4,350) |
Total stockholders' deficit | (201,854) | (120,238) |
Total liabilities and stockholders' deficit | 207,114 | 160,831 |
Series B Convertible Preferred Stock [Member] | ||
Stockholders' deficit: | ||
Series B convertible preferred stock, $0.001 par value; 7,235 authorized; 1,270 and 1,275 shares issued and outstanding each period, respectively (aggregate liquidation preference of $3,810 and $3,825 respectively) | 1 | 1 |
Convertible Series B Preferred Stock Subject to Mandatory Redemption [Member] | ||
Current liabilities: | ||
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Share Value, Amount, Current | 4,082 | 3,806 |
Long term liabilities: | ||
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Share Value, Amount, Noncurrent | 116,000 | 44,978 |
Convertible Series A Preferred Stock Subject to Mandatory Redemption [Member] | ||
Current liabilities: | ||
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Share Value, Amount, Current | $ 0 | $ 3,169 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) shares in Thousands, $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Cash and cash equivalents | $ 4,313 | $ 7,751 |
Allowance For Doubtful Accounts | 0 | 1,404 |
Accounts receivable, net of allowance for doubtful accounts | 1,264 | 1,574 |
Inventory Valuation Reserves | 1,040 | 1,040 |
Prepaid expenses | 4,248 | 5,598 |
Other current assets | 3,653 | 644 |
Property, plant and equipment, net | 180,441 | 135,101 |
Operating lease right-of-use assets | 2,449 | 2,462 |
Other assets | 6,088 | 2,575 |
Accounts payable | 26,168 | 16,415 |
Short term borrowings | 36,754 | 14,586 |
Accrued property taxes | 1,206 | 6,830 |
Current portion of operating lease liability | 338 | 260 |
Other current liabilities | 7,268 | 5,872 |
Other long term debt | 11,678 | 12,038 |
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Share Value, Amount, Noncurrent | 116,000 | 45,000 |
Operating lease liability | $ 2,189 | $ 2,318 |
Series B Preferred Stock, Authorized (in shares) | 65,000 | |
Series B Preferred Stock, Shares Issued (in shares) | 1,270 | 1,275 |
Common Stock, Par Value (in dollars per share) | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized (in shares) | 80,000 | 80,000 |
Common Stock, Shares Issued (in shares) | 35,869 | 33,461 |
Common Stock, Shares Outstanding (in shares) | 35,869 | 33,461 |
Series B Convertible Preferred Stock [Member] | ||
Series B Preferred Stock, Par Value (in dollars per share) | $ 0.001 | $ 0.001 |
Series B Preferred Stock, Authorized (in shares) | 7,235 | 7,235 |
Series B Preferred Stock, Shares Issued (in shares) | 1,270 | 1,275 |
Series B Preferred Stock, Shares Outstanding (in shares) | 1,270 | 1,275 |
Aggregate Liquidation Preference | $ 3,810 | $ 3,825 |
Convertible Series A Preferred Stock Subject to Mandatory Redemption [Member] | ||
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Share Value, Amount, Current | 0 | 3,169 |
Convertible Series B Preferred Stock Subject to Mandatory Redemption [Member] | ||
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Share Value, Amount, Current | 4,082 | 3,806 |
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Share Value, Amount, Noncurrent | 116,000 | 44,978 |
Variable Interest Entity, Primary Beneficiary [Member] | ||
Cash and cash equivalents | 165 | 19 |
Accounts receivable, net of allowance for doubtful accounts | 165 | 0 |
Prepaid expenses | 858 | 335 |
Other current assets | 725 | 0 |
Property, plant and equipment, net | 71,633 | 39,625 |
Operating lease right-of-use assets | 224 | 10 |
Other assets | 3,458 | 38 |
Accounts payable | 9,192 | 4,950 |
Short term borrowings | 19,831 | 9 |
Accrued property taxes | 0 | 121 |
Current portion of operating lease liability | 41 | 11 |
Other current liabilities | 645 | 306 |
Other long term debt | 31 | 40 |
Operating lease liability | 115 | 0 |
Variable Interest Entity, Primary Beneficiary [Member] | Convertible Series B Preferred Stock Subject to Mandatory Redemption [Member] | ||
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Share Value, Amount, Noncurrent | $ 116,000 | $ 44,978 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Revenues | $ 256,513 | $ 211,949 |
Cost of goods sold | 262,048 | 204,010 |
Gross (loss) profit | (5,535) | 7,939 |
Research and development expenses | 180 | 88 |
Selling, general and administrative expenses | 28,686 | 23,676 |
Operating loss | (34,401) | (15,825) |
Interest expense | ||
Interest rate expense | 21,407 | 20,136 |
Debt related fees and amortization expense | 7,363 | 3,921 |
Accretion and other expenses of Series A preferred units | 9,888 | 7,718 |
Loss (gain) on debt extinguishment | 49,386 | (1,134) |
Gain on litigation | (1,400) | 0 |
Other (income) expense | (14,340) | 809 |
Loss before income taxes | (106,705) | (47,275) |
Income tax expense (benefit) | 1,053 | (128) |
Net loss | (107,758) | (47,147) |
Other comprehensive (loss) | ||
Foreign currency translation loss | (1,102) | (236) |
Comprehensive loss | $ (108,860) | $ (47,383) |
Net loss per common share | ||
Basic (in dollars per share) | $ (3.12) | $ (1.54) |
Diluted (in dollars per share) | $ (3.12) | $ (1.54) |
Weighted average shares outstanding | ||
Basic (in shares) | 34,585 | 30,682 |
Diluted (in shares) | 34,585 | 30,682 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Operating activities: | ||
Net loss | $ (107,758) | $ (47,147) |
Adjustments to reconcile net loss to net cash used by operating activities: | ||
Share-based compensation | 6,410 | 3,928 |
Depreciation | 5,535 | 5,448 |
Debt related fees and amortization expense | 7,363 | 3,921 |
Intangibles and other amortization expense | 46 | 46 |
Accretion and other expenses of Series A preferred units | 9,888 | 7,718 |
Loss on asset disposals | 47 | 0 |
Loss (gain) on debt extinguishment | 49,386 | (1,134) |
Gain on litigation | (1,400) | 0 |
Loss on lease termination | 736 | |
Provision for excess and obsolete inventory | 0 | 1,040 |
Provision for bad debts | 0 | 144 |
Deferred Tax liability | 832 | 0 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 294 | 94 |
Inventories | 360 | (2,211) |
Prepaid expenses | 1,777 | (4,849) |
Other assets | (3,941) | 2,368 |
Accounts payable | 2,183 | (5,198) |
Accrued interest expense and fees | 15,501 | 14,456 |
Other liabilities | (10,125) | 729 |
Net cash used in operating activities | (22,866) | (20,647) |
Investing activities: | ||
Capital expenditures | (39,157) | (26,652) |
Grant proceeds and other reimbursement received for capital expenditures | 7,851 | 3,758 |
Net cash used in investing activities | (31,306) | (22,894) |
Financing activities: | ||
Proceeds from borrowings | 69,356 | 0 |
Repayments of borrowings | (26,266) | (55,523) |
TEC debt renewal and waiver fee payments | (1,169) | (1,108) |
Grant proceeds received for capital expenditures | 0 | 115 |
Payments on finance leases | (481) | (505) |
Proceeds from issuance of common stock in equity offering | 11,987 | 103,591 |
Proceeds from the exercise of stock options | 206 | 1,304 |
Proceeds from Series A preferred units financing | 0 | 3,130 |
Series A preferred financing redemption | 0 | (300) |
Net cash provided by financing activities | 53,633 | 50,704 |
Effect of exchange rate changes on cash and cash equivalents | (213) | (4) |
Net change in cash and cash equivalents for period | (752) | 7,159 |
Cash, cash equivalents, and restricted cash at beginning of period | 7,751 | 592 |
Cash, cash equivalents, and restricted cash at end of period | 6,999 | 7,751 |
Supplemental disclosures of cash flow information, cash paid: | ||
Cash paid for interest | 19,515 | 5,682 |
Income taxes paid | 10 | 7 |
Supplemental disclosures of cash flow information, non-cash transactions: | ||
Subordinated debt extension fees added to debt | 680 | 680 |
Debt fees added to revolving lines | 800 | 0 |
Fair value of warrants issued to subordinated debt holders | 1,939 | 1,546 |
Fair value of stock issued to a related party for guarantee fees | 2,012 | 0 |
Fair value of warrants issued to lender for debt issuance costs | 3,158 | 0 |
Fair value of stock issued to lender | 1,335 | 0 |
Fair value of warrants issued for capital expenditures | 0 | 1,344 |
TEC debt extension, waiver fees, promissory notes fees added to debt | 583 | 608 |
Capital expenditures in accounts payable | 15,411 | 7,693 |
Payment of debt added to revolving lines | 16,266 | 0 |
Operating lease liabilities arising from obtaining right of use assets | 306 | 0 |
Financing lease liabilities arising from obtaining right of use assets | 2,932 | 113 |
Capital expenditures purchased on financing | 290 | 55 |
Issuance of equity to pay off accounts payable | $ 0 | $ 893 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Deficit - USD ($) shares in Thousands, $ in Thousands | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2020 | 1,323 | 22,830 | ||||
Balance at Dec. 31, 2020 | $ 1 | $ 23 | $ 93,426 | $ (274,080) | $ (4,114) | $ (184,744) |
Issuance of common stock (in shares) | 0 | 7,796 | ||||
Issuance of common stock | $ 0 | $ 8 | 103,760 | 0 | 0 | 103,768 |
Series B conversion to common stock (in shares) | (48) | |||||
Series B conversion to common stock | $ 0 | $ 0 | 0 | 0 | 0 | 0 |
Series B conversion to common stock (in shares) | 5 | |||||
Stock options exercised (in shares) | 0 | 2,499 | ||||
Stock options exercised | $ 0 | $ 2 | 1,249 | 0 | 0 | 1,251 |
Stock-based compensation | $ 0 | $ 0 | 3,928 | 0 | 0 | 3,928 |
Issuance and exercise of warrants (in shares) | 0 | 331 | ||||
Issuance and exercise of warrants | $ 0 | $ 0 | 2,942 | 0 | 0 | 2,942 |
Foreign currency translation gain (loss) | 0 | 0 | 0 | 0 | (236) | (236) |
Net loss | $ 0 | $ 0 | 0 | (47,147) | 0 | (47,147) |
Balance (in shares) at Dec. 31, 2021 | 1,275 | 33,461 | ||||
Balance at Dec. 31, 2021 | $ 1 | $ 33 | 205,305 | (321,227) | (4,350) | (120,238) |
Issuance of common stock (in shares) | 0 | 1,885 | ||||
Issuance of common stock | $ 0 | $ 3 | 15,530 | 0 | 0 | 15,533 |
Series B conversion to common stock (in shares) | (5) | |||||
Series B conversion to common stock | $ 0 | $ 0 | 0 | 0 | 0 | 0 |
Series B conversion to common stock (in shares) | 1 | |||||
Stock options exercised (in shares) | 0 | 296 | ||||
Stock options exercised | $ 0 | $ 0 | 205 | 0 | 0 | 205 |
Stock-based compensation | $ 0 | $ 0 | 6,410 | 0 | 0 | 6,410 |
Issuance and exercise of warrants (in shares) | 0 | 226 | ||||
Issuance and exercise of warrants | $ 0 | $ 0 | 5,096 | 0 | 0 | 5,096 |
Foreign currency translation gain (loss) | 0 | 0 | 0 | 0 | (1,102) | (1,102) |
Net loss | $ 0 | $ 0 | 0 | (107,758) | 0 | (107,758) |
Balance (in shares) at Dec. 31, 2022 | 1,270 | 35,869 | ||||
Balance at Dec. 31, 2022 | $ 1 | $ 36 | $ 232,546 | $ (428,985) | $ (5,452) | $ (201,854) |
Note 1 - Nature of Activities a
Note 1 - Nature of Activities and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | 1. Nature of Activities ● Aemetis Americas, Inc., a Delaware corporation, and its subsidiary AE Biofuels, Inc., a Delaware corporation; ● Aemetis International, Inc., a Nevada corporation, and its subsidiary International Biofuels, Ltd., a Mauritius corporation, and its subsidiary Universal Biofuels Private, Ltd, an India company; ● Aemetis Technologies, Inc., a Delaware corporation; ● Aemetis Biofuels, Inc., a Delaware corporation, and its subsidiary Energy Enzymes, Inc., a Delaware corporation; ● AE Advanced Fuels, Inc., a Delaware corporation, and its subsidiaries Aemetis Advanced Fuels Keyes, Inc., a Delaware corporation, and Aemetis Facility Keyes, Inc., a Delaware corporation, Aemetis Property Keyes, Inc., a Delaware corporation; ● Aemetis Advanced Fuels, Inc., a Nevada corporation; ● Aemetis Advanced Products Keyes, Inc., a Delaware corporation and its subsidiaries Aemetis Properties Riverbank, Inc., a Delaware corporation, Aemetis Health Products, Inc., a Delaware corporation; Aemetis Riverbank, Inc., a Delaware corporation, and its subsidiary Aemetis Advanced Products Riverbank, Inc., a Delaware corporation; ● Aemetis Advanced Biorefinery Keyes, Inc., a Delaware corporation; ● Aemetis Carbon Capture, Inc. a Nevada corporation; ● Aemetis Biogas LLC, a Delaware Limited Liability Company and its subsidiaries Aemetis Biogas Holdings LLC, a Delaware Limited Liability Company, Aemetis Biogas Services LLC, a Delaware Limited Liability Company, Aemetis Biogas 1 2 3 4 ● Goodland Advanced Fuels, Inc., a Nevada corporation. Founded in 2006 three not Our California Ethanol segment consists of a 65 “CO2” third 2022, TM first Our California Dairy Renewable Natural segment Aemetis Biogas” or “ABGL,” constructs and operates bio-methane anaerobic digesters at local dairies near the Keyes Plant (many of whom also purchase WDG produced by the Keyes Plant as animal feed); transports the biogas via pipeline to the Keyes Plant site; converts the biogas to Renewable Natural Gas (“RNG”) which is then delivered to customers through the PG&E natural gas pipeline. The Aemetis Biogas network includes the Aemetis Biogas Central Dairy Project which operates 40 four five The dairy digesters are connected via an underground, private, owned by ABGL, pipeline to a gas cleanup and compression unit at the Keyes Plant to produce dairy renewable natural gas (“RNG”). Upon receiving the bio-methane from the dairies, impurities are removed, and the bio-methane is converted to negative carbon intensity RNG that is injected into the statewide PG&E gas utility pipeline for use as transportation fuel or used as renewable process energy at the Keyes Plant. Our India Biodiesel segment owns and operates a plant in Kakinada, India (“Kakinada Plant”) with a nameplate capacity of 150 one Our All Other segment consists of: Carbon Zero biofuels production plants to produce renewable diesel and sustainable aviation fuel; Carbon Capture and Sequestration compression system and injection wells; a research and development facility in Minneapolis, Minnesota; and our corporate offices in Cupertino, California. Our Carbon Zero biofuels production plants are designed to produce low or negative carbon intensity sustainable aviation fuel (“SAF”) and renewable diesel fuel (“RD”) utilizing low carbon hydroelectric electricity, renewable hydrogen and non-edible renewable oils sourced from existing Aemetis biofuels plants and other sources. The first 125 zero Our Carbon Capture subsidiary was established to build Carbon Capture and Sequestration (“CCS”) projects that generate LCFS and IRS 45Q July 2022, 24 Basis of Presentation and Consolidation. not All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates Revenue Recognition 606 California Ethanol: May 13, 2020, May 13, 2020 October, 2021, one September 30, 2021. October 1, 2021, one one The below table shows our sales in California Ethanol by product category: California Ethanol For the twelve months ended December 31, 2022 2021 Ethanol sales $ 165,876 $ 162,428 Wet distiller's grains sales 50,930 41,476 Other sales 11,388 7,347 $ 228,194 $ 211,251 We have elected to adopt the practical expedient that allows for excluding the significant financing component of a contract when estimating the transaction price when the transfer of promised goods to the customer and customer payment for such goods are expected to be within one one We also assessed principal versus agent criteria as we buy our feedstock from our customers and process and sell finished goods to those customers in some contractual agreements. For our California Ethanol segment, we buy corn as feedstock for the production of ethanol, from our working capital partner J.D. Heiskell. Prior to May 13, 2020, May 13, 2020, one second 2021, October 1, 2021 not We consider the purchase of corn as a cost of goods sold and the sale of WDG and, corn oil, upon trucks leaving the Keyes Plant, as revenue on the basis that (i) we control and bear the risk of gain or loss on the processing of corn which is purchased at market prices into ethanol and (ii) we have legal title to the goods during the processing time. The pricing for both WDG and corn oil is set independently. Revenues from WDG and corn oil are billed net of the related transportation and marketing charges. The transportation component is accounted for in cost of goods sold and the marketing component is accounted for in sales, general and administrative expense. Transportation and marketing charges are known within days of the transaction and are recorded at the actual amounts. We have elected an accounting policy under which these charges have been treated as fulfillment activities provided after control has transferred. As a result, these charges are recognized in cost of goods sold and selling, general and administrative expenses, respectively, when revenue is recognized. Revenues are recorded at the gross invoiced amount. Hence, we are the principal in California Ethanol segment where our customer and vendor may California Dairy Renewable Natural Gas: December 2018, 40 four 40 In addition to the existing and operating dairy digesters, we currently have five 30 India Biodiesel: not one The below table shows our sales in India by product category: India Biodiesel For the twelve months ended December 31, 2022 2021 Biodiesel sales $ 27,041 $ 465 Other sales 1,070 231 $ 28,111 $ 696 In India, we also assessed principal versus agent criteria as we buy our feedstock from our customers and process and sell finished goods to those same customers in certain contractual agreements. In those cases, we receive the legal title to feedstock from our customers once it is on our premises. We control the processing and production of biodiesel based on contract terms and specifications. The pricing for both feedstock and biodiesel is set independently. We hold the title and risk to biodiesel according to agreements we enter into in these situations. Hence, we are the principal in India Biodiesel sales scenarios where our customer and vendor may Cost of Goods Sold December 31, 2022 2021 d $5.0 million related t 2021, 2021 Shipping and Handling Costs Research and Development. Cash, Cash Equivalents, and Restricted Cash three may not The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheet to the total of the same such amounts shown in the statement of cash flows As of December 31, 2022 December 31, 2021 Cash and cash equivalents $ 4,313 $ 7,751 Restricted cash included in other current assets 725 - Restricted cash included in other assets 1,961 - Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 6,999 $ 7,751 Accounts Receivable. third 30 may 30 The Company maintains an allowance for doubtful accounts for balances that appear to have specific collection issues and estimates an allowance for expected credit losses. The collection process is based on the age of the invoice and requires attempted contacts with the customer at specified intervals. If, after a specified number of days, the Company has been unsuccessful in its collection efforts, a bad debt allowance is recorded for the balance in question. Delinquent accounts receivables are charged against the allowance for doubtful accounts once un-collectability has been determined. The factors considered in reaching this determination are the apparent financial condition of the customer and the Company’s success in contacting and negotiating with the customer. If the financial condition of the Company’s customers were to deteriorate, additional allowances may December 31, 2021 second 2022. Inventories first first Variable Interest Entities. 1 2 not Property, Plant and Equipment. The Company evaluates the recoverability of long-lived assets with finite lives in accordance with ASC Subtopic 360 10 35 Property Plant and Equipment Subsequent Measurement, may not may not not December 31, 2022 2021 California Energy Commission Low-Carbon Fuel Production Program December 31, 2022 California Department of Food and Agriculture Dairy Digester Research and Development Grant 2 019, two second 2021. In October 2020, six 2020 December 31, 2022 California Energy Commission Low Carbon Advanced Ethanol Grant Program. May 2019, not December 31, 2022 2021 U.S. Department of Food and Agriculture Forest Service Grant. December 31, 2022 California Energy Commission Grant for Solar Microgrid, DSC and Battery Backup System. 1.56 1.25MW/2.5MWh December 31, 2022 California Department of Forestry and Fire Protection Grant. May 2022. 2 100% December 31, 2022 California Department of Forestry and Fire Protection Grant. May 2022. December 31, 2022 U.S Forest Service Community Wood Grant. May 2022. 3 no December 31, 2022 USDA s Biofuel Producer Program Grant. second 2022, 19 California Energy Commission Grant for Mechanical Vapor Recompression System. no December 31, 2022 Pacific Gas and Electric SEM Manufacturer s Incentive Program. fourth 2022, Income Taxes. 740 Income Taxes ASC 740 not may not December 31, 2022 2021 The Company is subject to income tax audits by the respective tax authorities in all of the jurisdictions in which it operates. The determination of tax liabilities in each of these jurisdictions requires the interpretation and application of complex and sometimes uncertain tax laws and regulations. The recognition and measurement of current taxes payable or refundable and deferred tax assets and liabilities requires that the Company make certain estimates and judgments. Changes to these estimates or a change in judgment may In 2018, 1 2 Basic and Diluted Net Income (Loss) per Share. December 31, 2022 2021 The following table shows the number of potentially dilutive shares excluded from the diluted net loss per share calculation as of December 31, 2022 2021 As of December 31, 2022 December 31, 2021 Series B preferred (post split basis) 127 128 Common stock options and warrants 5,050 3,819 Debt with conversion feature at $ 30 1,240 1,220 Total number of potentially dilutive shares excluded from the diluted net (loss) per share calculation 6,417 5,167 Comprehensive Loss. 220 Comprehensive Income not Foreign Currency Translation/Transactions. Segments. three The “California Ethanol” reportable segment includes the Company’s 65 The “California Dairy Renewable Natural Gas” reportable segment includes, the dairy digesters, pipeline and gas condition unit for the production of biogas from dairies near Keyes, California. The “India Biodiesel” reportable segment includes the Company’s 50 The Company has additional operating segments that were determined not Fair Value of Financial Instruments. not 3 Share-Based Compensation. 718 Stock Compensation Commitments and Contingencies. 450 Contingencies 450 one Convertible Instruments. Debt Issuance Costs. Troubled Debt Restructuring Accounting. Debt Modification Accounting 540 50 Debt Modification and Extinguishments 10 10 Recently Adopted Accounting Pronouncements ASU 2021 10: 832 2022, No. 2021 10, 1 |
Note 2 - Inventories
Note 2 - Inventories | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 2. Inventories consist of the following: As of December 31, 2022 December 31, 2021 Raw materials $ 2,971 $ 727 Work-in-progress 127 2,083 Finished goods 1,560 2,316 Total inventories $ 4,658 $ 5,126 As of December 31, 2022 December 31, 2021 none |
Note 3 - Property, Plant and Eq
Note 3 - Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 3. Property, plant and equipment consist of the following: As of December 31, 2022 December 31, 2021 Land $ 7,344 $ 4,082 Plant and buildings 99,116 97,110 Furniture and fixtures 1,831 1,334 Machinery and equipment 15,209 5,294 Tenant improvements 56 - Construction in progress 88,934 55,859 Property held for development 15,437 15,437 Finance lease right of use assets 3,045 2,317 Total gross property, plant & equipment 230,972 181,433 Less accumulated depreciation (50,531 ) (46,332 ) Total net property, plant & equipment $ 180,441 $ 135,101 Interest capitalized in property, plant, and equipment was $11.1 million and $4.7 million for the years ended December 31, 2022 2021 Construction in progress includes costs for the biogas construction projects (dairy digesters and pipeline), Riverbank projects (sustainable aviation fuel and renewable diesel plant as well as carbon capture characterization well), and energy efficiency projects at the Keyes Plant. Property held for developed is the partially completed Goodland Plant is not Years Plant and buildings 20 - 30 Machinery and equipment 5 - 15 Furniture and fixtures 3 - 5 The Company recorded depreciation expense of approximately $5.5 million and $5.4 million respectively, for the years ended December 31, 2022 2021 |
Note 4 - Debt
Note 4 - Debt | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 4. Debt consists of the notes from the Company’s senior lender, Third Eye Capital, acting as Agent for the Purchasers (Third Eye Capital), other working capital lenders and subordinated lenders as follows: December 31, 2022 December 31, 2021 Third Eye Capital term notes $ 7,141 $ 7,095 Third Eye Capital revolving credit facility 60,602 75,980 Third Eye Capital revenue participation term notes 11,963 11,915 Third Eye Capital acquisition term notes 26,578 26,461 Third Eye Capital Fuels Revolving Line 27,410 - Third Eye Capital Carbon Revolving Line 22,710 - Construction Loan 19,820 - Cilion shareholder seller notes payable 6,821 6,619 Subordinated notes 15,931 14,304 EB-5 promissory notes 41,404 40,692 Term loans on capital expenditures 5,860 5,701 Total debt 246,240 188,767 Less current portion of debt 49,219 22,778 Total long term debt $ 197,021 $ 165,989 Third Eye Capital Note Purchase Agreement On July 6, 2012, On February 27, 2019, “February 2019 April 30, 2019. February 2019 April 30, 2019, February 2019 third 2019, February 2019 first 2020, February 2019 $0.6 February 2019 first 2021. On March 14, 2021, No. 19 No. 19” December 31, 2021, ( March 31, 2021. No. 19 April 1, 2022 may may 60 No. 19 470 50 On August 9, 2021, No. 20 No. 20” may April 1, 2023 may March 31, 2022, June 30, 2022, September 30, 2022 December 31, 2022; June 30, 2021 No.20 470 50 On November 5, 2021, No. 21 No. 21” August 31, 2021 No.21 470 50 On March 8, 2022, No. 22 No. 22” December 31, 2021, ( December 31, 2021. On May 11, 2022, No. 23 No. 23” March 31, 2022, ( March 31, 2023 March 31, 2022 On August 8th, 2022, No. 24 No. 24" may April 1, 2024 may No. 24 On March 6, 2023, No. 25 No. 25” March 31, 2023, not 10 Amendments No. 19 No. 25 September 30, 2022 March 31, 2023. 470 10 45 not 12 12 5 12 12 not On March 6, 2020, one March 14, 2021, August 9, 2021, March 6, 2023, April 1, 2024. may third April 1, 2024. may April 1, 2024. one may Terms of Third Eye Capital Notes A. Term Notes . December 31, 2022 April 1, 2023*. B. Revolving Credit Facility . December 31, 2022 April 1, 2023*. December 31, 2022 C. Revenue Participation Term Notes . April 1, 2023*. December 31, 2022 D. Acquisition Term Notes . December 31, 2022 April 1, 2023*. December 31, 2022 not E. Reserve Liquidity Notes . April 1, 2024. December 31, 2022 * The note maturity date can be extended by the Company to April 2024. The Third Eye Capital Notes contain various covenants, including but not not twelve The Third Eye Capital Notes are secured by first GAFI Term Loan and Revolving Loan July 10, 2017, not July 10, 2021 first 2021 Third Eye Capital Revolving Credit Facility for Fuels and Carbon Lines March 2, 2022, two March 1, 2025 ten December 31, 2022 March 1, 2026 eight December 31, 2022 five March 2, 2022; ten eriod from March 2, 2022. not As of December 31, 2022 December 31, 2022 Cilion shareholder seller notes payable July 6, 2012, $5.0 December 31, 2022 Subordinated Notes. January 6 January 9, 2012, two six two may On January 1, 2022, two June 30, 2022; ( two July 1, 2022, two December 31, 2022; ( two January 1, 2022 July 1 2022 470 50 At December 31, 2022 2021 EB- 5 5 March 4, 2011 ( January 19, 2012 July 24, 2012) 5 72 5 2 3%. four 5 one two one no February 27, 2019, 5 six six 5 12 5 19 829 5 three Advanced BioEnergy, LP arranges investments with foreign investors, who each make loans to the Keyes Plant in increments of $0.5 million. The Company has sold an aggregate principal amount of $36.0 million of EB- 5 5 2012 December 31, 2022 December 31, 2022 2021 six 5 December 31, 2022 5 5 On October 16, 2016, 5 $50.0 5 5 5 November 21, 2019, 5 100 5 May 1, 2020 No. 3 5 60. 5 52 5 may five The Company has sold an aggregate principal amount of $4.0 million of EB- 5 5 2016 December 31, 2022 $4.0 December 31, 2022 5 5 Secunderabad Oils Operating Agreement. November 2008, 2008 first 2008 July 15, 2017, 95 second December 31, 2022 2021 Working capital loans. July 26, 2022, not August 1, 2022, not one December 31, 2022 Construction Loan Agreement. October 4, 2022, not 1 March 4, 2023, 80% 2023, December 31, 2022 sixty Financing Agreement for capital expenditures. TM December 31, 2022 Debt repayments for the Company’s loan obligations follow: Twelve months ended December 31, Debt Repayments 2023 $ 49,219 2024 140,001 2025 32,574 2026 27,712 2027 981 There after 895 Total debt 251,382 Debt issuance costs (5,142 ) Total debt, net of debt issuance costs $ 246,240 |
Note 5 - Commitments and Contin
Note 5 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 5. Leases We have identified assets as the corporate office, warehouse, monitoring equipment and laboratory facilities over which we have control and obtain economic benefits fully. We classified these identified assets as operating leases after assessing the terms under classification guidance. We have entered into several leases for trailers and carbon units with purchase option at the end of the term. We have concluded that it is reasonably certain that we would exercise the purchase option at the end of the term, hence the leases were classified as finance leases. All of our leases have remaining term of one We made an accounting policy election to keep leases with an initial term of 12 When discount rates implicit in leases cannot be readily determined, the Company uses the applicable incremental borrowing rate at lease commencement to perform lease classification tests on lease components and to measure lease liabilities and ROU assets. The incremental borrowing rate used by the Company was based on weighted average baseline rates commensurate with the Company’s secured borrowing rate, over a similar term. At each reporting period when there is a new lease initiated, the rates established for that quarter will be used. On December 14, 2021, 5300 842 The components of lease expense and sublease income was as follows: Twelve Months Ended December 31, 2022 2021 Operating lease cost Operating lease expense $ 673 $ 812 Short term lease expense 176 207 Variable lease expense 91 107 Total operating lease cost $ 940 $ 1,126 Finance lease cost Amortization of right-of-use assets $ 179 $ 230 Interest on lease liabilities 310 81 Total finance lease cost $ 489 $ 311 Cash paid for amounts included in the measurement of lease liabilities: Twelve Months Ended December 31, 2022 2021 Operating cash flows used in operating leases $ 766 $ 698 Operating cash flows used in finance leases 310 81 Financing cash flows used in finance leases 481 505 Supplemental non-cash flow information related to the operating ROU asset and lease liabilities was as follows for the year ended December 31, 2022 2021 Twelve Months Ended December 31, 2022 2021 Operating leases Accretion of the lease liability $ 340 $ 378 Amortization of right-of-use assets 333 434 Weighted Average Remaining Lease Term Operating leases (in years) 5.2 Finance leases (in years) 14.0 Weighted Average Discount Rate Operating leases 14.2 % Finance leases 13.2 % Supplemental balance sheet information related to leases was as follows: As of December 31, 2022 December 31, 2021 Operating leases Operating lease right-of-use assets $ 2,449 $ 2,462 Current portion of operating lease liability 338 260 Long term operating lease liability 2,189 2,318 Total operating lease liabilities 2,527 2,578 Finance leases Property and equipment, at cost $ 3,045 $ 2,317 Accumulated depreciation (112 ) (376 ) Property and equipment, net 2,933 1,941 Other current liability 71 550 Other long term liabilities 2,911 720 Total finance lease liabilities 2,982 1,270 Maturities of operating lease liabilities were as follows: Year Ended December 31, Operating leases Finance leases 2023 $ 667 $ 429 2024 682 179 2025 681 168 2026 626 145 2027 645 145 There after 274 11,000 Total lease payments 3,575 12,066 Less imputed interest (1,048 ) (9,084 ) Total lease liability $ 2,527 $ 2,982 The Company acts as sublessor in certain leasing arrangements, primarily related to land and buildings. Fixed sublease payments received are recognized on a straight-line basis over the sublease term. Sublease income and head lease expense for these transactions are recognized on a gross basis on the consolidated financial statements. Sublease income was recorded in the other operating income section of the Consolidated Statements of Operations and Comprehensive Loss. The components of lease income for the years ended December 31, 2022 2021 were as follows: December 31, 2022 December 31, 2021 Lease income $ 1,255 $ - Future lease commitments to be received by the Company as of December 31, 2022 were as fo Year ended December 31, 2023 $ 841 2024 572 2025 501 2026 474 2027 474 There after 1,066 Total future lease commitments $ 3,928 Legal Proceedings On August 31, 2016, July 24, 2019, May 6, 2022 second 2022. The Company is subject to legal proceedings and claims which arise in the ordinary course of its business. While the ultimate outcome of these matters is not not |
Note 6 - Aemetis Biogas LLC, Se
Note 6 - Aemetis Biogas LLC, Series A Preferred Financing and Variable Interest Entity | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Variable Interest Entity Disclosure [Text Block] | 6. Series A Preferred Financing and Variable Interest Entity On December 20, 2018, X ABGL is authorized to issue 11,000,000 common units, and up to 6,000,000 convertible, redeemable, secured, preferred membership units (the “Series A Preferred Units”). ABGL issued 6,000,000 common units to the Company at $5.00 per common unit for a total of $30,000,000 in funding. Additionally, 5,000,000 common units of ABGL are held in reserve as potential conversion units issuable to the Purchaser upon certain triggering events discussed below. The Preferred Unit Agreement includes (i) preference payments of $0.50 per unit on the outstanding Series A Preferred Units commencing on the second ten one one one three sixth not Triggering events occur upon ABGL’s failure to redeem units, comply with covenants, any other defaults or cross defaults, or to perform representations or warranties. Upon a triggering event: (i) the obligation of the Purchaser to purchase additional Series A Preferred Units is terminated, (ii) cash flow payments for redemption payments increases from 75% to 100% of free cash flows, and (iii) total number of common units into which preferred units may one one December 31, 2022 not may 100% 75% On August 8th, 2022, December 31, 2022 ( September 30, 2022 January 1, 2023. 470 50 On January 1st, 2023, not December 31, 2022, May 31, 2023, June 1, 2023, No.2 470. From inception of the agreement to date, ABGL issued 3,200,000 Series A Preferred Units on first second August 8, 2022 December 31, 2022 December 31, 2022 2021 During the year ended December 31, 2021, second The Company recorded Series A Preferred Unit liabilities, net of unit issuance costs and inclusive of accretive preference pursuant to this agreement, and accrued preference payments, classified as current portion of Series A Preferred Units, of $0 and $3.2 million, and long-term liabilities of $116,000 and $45.0 million as of December 31, 2022 2021 , respectively. Variable interest entity assessment After consideration of ABGL’s operations and the above agreement, we concluded that ABGL did not two not |
Note 7 - Stockholders' Equity
Note 7 - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 7. Equity The Company is authorized to issue up to 80 million shares of common stock, $0.001 par value per share and 65 million shares of preferred stock, $0.001 par value per share. Convertible Preferred Stock The following is a summary of the authorized, issued and outstanding convertible preferred stock: Shares Issued and Authorized Outstanding December 31, Shares 2022 2021 Series B preferred stock 7,235 1,270 1,275 Undesignated 57,765 - - 65,000 1,270 1,275 Our Articles of Incorporation authorize the Company’s board to issue up to 65 million shares of preferred stock, $0.001 par value, in one Significant terms of the designated preferred stock are as follows: Voting. not 1 • Increase or decrease (other than by redemption or conversion) the total number of authorized shares of Series B preferred stock; • Effect an exchange, reclassification, or cancellation of all or a part of the Series B preferred stock, including a reverse stock split, but excluding a stock split; • Effect an exchange, or create a right of exchange, of all or part of the shares of another class of shares into shares of Series B preferred stock; or • Alter or change the rights, preferences or privileges of the shares of Series B preferred stock so as to affect adversely the shares of such series. Dividend Holders of all of the Company’s shares of Series B preferred stock are entitled to receive non-cumulative dividends payable in preference and before any declaration or payment of any dividend on common stock as may No may Liquidation Preference. Conversion. one Mandatorily Redeemable Series B preferred stock. December 31, 2008 ar (9.50% at December 31, 2022 ) December 31, 2022 2021 |
Note 8 - Outstanding Warrants
Note 8 - Outstanding Warrants | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Outstanding Warrants [Text Block] | 8. During the years ended December 31, 2022 2021 December 31, 2022 December 31, 2021, The weighted average fair value calculations for warrants granted are based on the following weighted average assumptions: Description For the year ended December 31, 2022 2021 Dividend-yield 0 % 0 % Risk-free interest rate 1.75 % 0.21 % Expected volatility 151.41 % 136.16 % Expected life (years) 3 2 Exercise price per share $ 10.47 $ 0.01 Market value per share on grant date $ 11.29 $ 9.92 Fair value per share on grant date $ 9.68 $ 9.91 A summary of historical warrant activity for the years ended December 31, 2022 2021 Warrants Outstanding & Exercisable Weighted - Average Exercise Price Average Remaining Term in Years Outstanding December 31, 2020 95 $ 2.59 4.95 Granted 292 0.01 Exercised (332 ) 0.32 Outstanding December 31, 2021 55 $ 2.59 3.95 Granted 527 10.47 Exercised (227 ) 0.01 Outstanding December 31, 2022 355 $ 15.92 7.48 All of the above outstanding warrants are vested and exercisable as of December 31, 2022 As of December 31, 2022 2021 , the Company had no |
Note 9 - Stock-Based Compensati
Note 9 - Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 9. 2019 On April 29, 2019, 2019 “2019 may 2019 2019 2019 2007 With the approval of the 2019 2006 2007 2019 2019 During the year ended December 31, 2021, 2019 During the year ended December 31, 2022, 2019 Inducement Equity Plan Options In March 2016, December 31, 2022 Common Stock Reserved for Issuance The following is a summary of awards granted under the above Plans: Shares Available for Grant Number of Shares Outstanding Weighted-Average Exercise Price Balance as of December 31, 2020 380 5,327 $ 1.14 Authorized 816 - - Options Granted (1,141 ) 1,141 5.60 RSAs Granted (154 ) - - Exercised - (2,498 ) 1.39 Forfeited/expired 241 (207 ) 1.84 Balance as of December 31, 2021 142 3,763 $ 2.29 Authorized 1,338 - - Options Granted (1,307 ) 1,307 10.97 RSAs Granted (89 ) - - Exercised - (295 ) 0.93 Forfeited/expired 81 (81 ) 11.63 Balance as of December 31, 2022 165 4,694 $ 4.63 The following is a summary of vested and unvested awards outstanding as of December 31, 2022 2021 Number of Shares Weighted Average Exercise Price Remaining Contractual Term (In Years) Aggregate Intrinsic Value1 2022 Vested and Exercisable 3,170 $ 2.46 6.98 $ 7,419 Unvested 1,524 9.13 8.81 647 Total 4,694 $ 4.63 7.58 $ 8,066 2021 Vested and Exercisable 2,346 $ 1.32 7.68 $ 25,771 Unvested 1,417 3.89 8.64 12,961 Total 3,763 $ 2.29 8.04 $ 38,732 ( 1 Intrinsic value based on the $3.96 and $12.30 closing price of Aemetis stock on December 31, 2022 2021 respectively, as reported on the NASDAQ Exchange. Stock-based compensation for employees Stock-based compensation is accounted for in accordance with the provisions of ASC 718, For the years ended December 31, 2022 2021 $6.4 million, and $3.9 million, respectively. Valuation and Expense Information All issuances of stock options or other issuances of equity instruments to employees as the consideration for services received by us are accounted for based on the fair value of the equity instrument issued. The fair value of options granted to employees is estimated on the grant date using the Black-Scholes option valuation model. This valuation model for stock based compensation expense requires us to make assumptions and judgments about the variables used in the calculation, including the fair value of our common stock, the expected term (the period of time that the options granted are expected to be outstanding), the volatility of our common stock, a risk-free interest rate, and expected dividends. We also estimate forfeitures of unvested stock options. To the extent actual forfeitures differ from our estimates, the difference will be recorded as a cumulative adjustment in the period estimates are revised. Compensation cost is recorded only for vested options. We use the simplified calculation of expected life described in the SEC’s Staff Accounting Bulletin No. 107, four not zero The weighted average fair value calculations for options granted during the year ended 2022 2021 Description For the year ended December 31, 2022 2021 Dividend-yield 0 % 0 % Risk-free interest rate 2.03 % 0.83 % Expected volatility 117.21 % 100.47 % Expected life (years) 7.00 6.59 Market value per share on grant date $ 10.97 $ 5.60 Fair value per share on grant date $ 9.71 $ 4.68 As of December 31, 2022 |
Note 10 - Agreements
Note 10 - Agreements | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Collaborative Arrangement Disclosure [Text Block] | 10. Working Capital Arrangement. December 31, 2023, one May 13, 2020, No.1 As of December 31, 2022 2021 The J.D. Heiskell purchases and sales activity associated with the Purchasing Agreement, Corn Procurement and Working Capital Agreements during the years ended December 31, 2022 2021 As of and for the twelve months ended December 31, 2022 2021 Wet distiller's grains sales $ 50,930 $ 41,476 Corn oil sales 10,168 6,184 Corn purchases 191,401 159,309 Accounts receivable - 308 Accounts payable 27 862 Ethanol and Wet Distillers Grains Marketing Arrangement. December 31, 2022 one September 30, 2021. October 1, 2021, October 31, 2023 one Sales to Kinergy were none no December 31, 2022 2021 Sales to Murex were $165.9 million and $51.7 million, and accounts receivable associated with Murex was $0.6 million $1.0 million, for the years ending December 31, 2022 2021 For the years ended December 31, 2022 2021 For the years ended December 31, 2022 2021 Supply Trade Agreement. July 1, 2022, ten one one December 31, 2022 2021 As of December 31, 2022 |
Note 11 - Segment Information
Note 11 - Segment Information | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 11. Aemetis recognizes three The “California Ethanol” reportable segment includes the Company’s 65 million gallon per year ethanol plant in Keyes, California, and the adjacent land leased for the production of CO₂. The “California Dairy Renewable Natural Gas” reportable segment includes, the dairy digesters, pipeline and gas condition unit for the production of biogas from dairies near Keyes, California. The “India Biodiesel” reportable segment includes the Company’s 50 million gallon per year nameplate capacity biodiesel manufacturing Kakinada Plant, the administrative offices in Hyderabad, India, and the holding companies in Nevada and Mauritius. The Company’s biodiesel is marketed and sold primarily to customers in India through brokers and by the Company directly. The Company has additional operating segments that were determined not Summarized financial information by reportable segment for the years ended December 31, 2022 2021 For the year ended December 31, 2022 California Ethanol California Dairy Renewable Natural Gas India Biodiesel All other Total Revenues from external customers $ 228,194 $ 208 $ 28,111 $ - $ 256,513 Intersegment revenues - 1,002 - - 1,002 Gross profit (loss) (13,017 ) (778 ) 8,273 (13 ) (5,535 ) Interest expense, including amortization of debt fees 20,637 742 119 7,272 28,770 Accretion and other expenses of Series A preferred units - 9,888 - - 9,888 Loss on debt extinguishment - 49,386 - - 49,386 Capital expenditures 8,399 22,884 129 7,745 39,157 Depreciation 4,148 615 650 122 5,535 Total Assets 66,794 77,714 16,120 46,486 207,114 For the year ended December 31, 2021 California Ethanol California Dairy Renewable Natural Gas India Biodiesel All other Total Revenues from external customers $ 211,251 $ - $ 696 $ 2 $ 211,949 Intersegment revenues - 1,445 - - 1,445 Gross profit (loss) 9,565 (488 ) (23 ) (1,115 ) 7,939 Interest expense, including amortization of debt fees 21,625 13 - 2,419 24,057 Accretion and other expenses of Series A preferred units - 7,718 - - 7,718 Gain on debt extinguishment (713 ) - - (421 ) (1,134 ) Capital expenditures 2,763 17,702 142 6,045 26,652 Depreciation 4,132 577 686 53 5,448 Total Assets 75,909 40,027 10,779 34,116 160,831 A reconciliation of reportable segment revenues to consolidated totals for the years 2022 2021 Revenues 2022 2021 Total revenues for reportable segments $ 257,515 $ 213,394 Elimination of intersegment revenues (1,002 ) (1,445 ) Total consolidated revenues $ 256,513 $ 211,949 California Ethanol: December 31, 2022 2021 one December 31, 2022 one December 31, 2022 two December 31, 2021 one December 31, 2021 California Dairy Renewable Natural Gas: December 31, 2022 2021 fourth 2022, India Biodiesel: December 31, 2022 three December 31, 2021 one |
Note 12 - Related Party Transac
Note 12 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 12. The Company owes Eric McAfee, the Company’s Chairman and CEO, and McAfee Capital LLC (“McAfee Capital”), owned by Eric McAfee , $0.4 million in $0.4 million December 31, 2021 December 31, 2022 2021 $0.3 million December 31, 2022 December 31, 2021, one January 2022. On May 7, 2020, November 4, 2021, December 31, 2022 2021 January 12, 2022, one The Company owes various members of the Board amounts totaling $0.3 million and $0.2 million as of December 31, 2022 December 31, 2021 December 31, 2022 2021 December 31,2021 |
Note 13 - Income Tax
Note 13 - Income Tax | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 13. The Company files a consolidated federal income tax return including all its domestic subsidiaries. State tax returns are filed on a consolidated, combined or separate basis depending on the applicable laws relating to the Company and its subsidiaries. Components of tax expense consist of the following: 2022 2021 Current: Federal $ - $ - State and Local 13 11 Foreign 230 - 243 11 Deferred: Federal - - State and Local - - Foreign 810 (139 ) Income tax expense/(benefit) $ 1,053 $ (128 ) The Company records deferred tax liability in other long term liabilities in the Consolidated Balance Sheets. The deferred tax liability resulted as India subsidiary had income for the year ended December 31, 2022 Year Ended December 31, 2022 2021 United States $ (112,959 ) $ (45,723 ) Foreign 6,254 (1,552 ) Pretax loss $ (106,705 ) $ (47,275 ) Income tax benefit differs from the amounts computed by applying the statutory U.S. federal income tax rate ( 21% Year Ended December 31, 2022 2021 Income tax benefit at the federal statutory rate $ (22,408 ) $ (9,928 ) State tax benefit (496 ) (2,875 ) Foreign tax differential 168 (96 ) Stock-based compensation 295 252 Interest Expense 58 1,842 GILTI Inclusion 1,126 - Prior year true-ups 55 140 Non-includible US Entities 13,499 - Other 46 497 Credits (2,373 ) (2,074 ) Valuation Allowance 11,083 12,114 Income Tax Expense (Benefit) 1,053 (128 ) Effective Tax Rate -0.99 % 0.27 % The components of the net deferred tax asset or (liability) are as follows: Year Ended December 31, 2022 2021 Deferred Tax Assets Organizational Costs, Start-up and Intangible Assets $ 2,309 $ 5,068 Stock Based Compensation 1,842 1,174 NOLs, Unabsorbed Depreciation and R&D Credits C/F's 68,201 61,624 Interest expense carryover 22,374 17,436 Ethanol Credits 1,500 1,500 Carbon Oxide Sequestration Credit 5,827 3,460 Accrued Expenses 2,001 3,312 Operating Lease Liability 1,512 1,082 Other, net 113 737 Total Deferred Tax Assets 105,679 95,392 Valuation Allowance (95,214 ) (83,260 ) Net Deferred Tax Assets 10,465 12,133 Deferred Tax Liabilities Right of Use Asset (1,477 ) (1,238 ) Property, Plant & Equipment (9,788 ) (10,882 ) Other, net (10 ) (13 ) Total Deferred Tax Liabilities (11,275 ) (12,133 ) Net Deferred Tax Liabilities $ (810 ) $ - Based on the Company’s evaluation of current and anticipated future taxable income, the Company believes it is more likely than not We do not December 31, 2022 2021 may not ASC 740 not not not 12 December 31, 2022 not The following describes the open tax years, by major tax jurisdiction, as of December 31, 2022 United States — Federal 2007 – present United States — State 2008 – present India 2013 – present Mauritius 2006 – present As of December 31, 2022 2027 2038. 2027 2042. may December 31, 2022 no |
Note 14 - Parent Company Financ
Note 14 - Parent Company Financial Statements (Unaudited) | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | 14. We conduct substantially all of our operations through subsidiaries and are dependent on cash distributions, dividends and other intercompany transfers of funds from our operations. Our subsidiaries have not may not Aemetis, Inc. (Parent Company) Balance Sheets As of December 31, 2022 2021 2022 2021 Assets Current assets Cash and cash equivalents $ 286 $ - Receivables due from subsidiaries 98,780 93,571 Prepaid expenses 611 290 Other current assets 7 116 Total current assets 99,684 93,977 Investment in Aemetis Property Keyes, Inc. 1,274 496 Investment in Aemetis International, Inc. 6,659 2,546 Investment in Aemetis Advanced Products Riverbank, Inc. 173 23 Investment in Aemetis Carbon Capture, Inc. - 54 Total investments in Subsidiaries, net of advances 8,106 3,119 Property, plant and equipment, net 135 36 Other assets 2,377 2,475 Total Assets $ 110,302 $ 99,607 Liabilities & stockholders' deficit Current liabilities Accounts payable $ 2,934 $ 3,024 Mandatorily redeemable Series B convertible preferred 4,082 3,806 Other current liabilities 4,269 9,521 Total current liabilities 11,285 16,351 Long term liabilities: Operating lease liability 2,047 2,318 Subsidiary obligation in excess of investment Investment in AE Advanced Fuels, Inc. 177,856 150,424 Investment in Aemetis Americas, Inc 205 205 Investment in Aemetis Biofuels, Inc. 2,738 2,738 Investment in Aemetis Technologies, Inc. 4,716 4,536 Investment in AE Advanced Products Keyes , Inc. 270 383 Investment in Aemetis Health Products, Inc. 2,076 2,137 Investment in Goodland Advanced Fuels, Inc. 16,869 13,587 Investment in Aemetis Biogas LLC 91,292 27,166 Investment in Aemetis Carbon Capture Inc 2,323 - Investment in Aemetis Properties Riverbank, Inc. 479 - Total subsidiary obligation in excess of investment 298,824 201,176 Total long term liabilities 300,871 203,494 Stockholders' deficit Series B Preferred convertible stock 1 1 Common stock 36 33 Additional paid-in capital 232,546 205,305 Accumulated deficit (428,985 ) (321,227 ) Accumulated other comprehensive loss (5,452 ) (4,350 ) Total stockholders' deficit (201,854 ) (120,238 ) Total liabilities & stockholders' deficit $ 110,302 $ 99,607 Aemetis, Inc. (Parent Company) Statements of Operations and Comprehensive Loss For the Years Ended December 31, 2022 2021 2022 2021 Equity in subsidiary losses $ (91,561 ) $ (34,400 ) Selling, general and administrative expenses 15,203 11,806 Operating loss (106,764 ) (46,206 ) Other (income) expense Interest expense 806 1,031 Debt related fees and amortization expense 1,581 - Other income (1,400 ) (97 ) Loss before income taxes (107,751 ) (47,140 ) Income tax expense 7 7 Net loss (107,758 ) (47,147 ) Other comprehensive loss Foreign currency translation adjustment (1,102 ) (27 ) Comprehensive loss $ (108,860 ) $ (47,174 ) Aemetis, Inc. (Parent Company) Statements of Cash Flows For the years ended December 31, 2022 2021 2022 2021 Operating activities: Net loss (107,758 ) (47,147 ) Adjustments to reconcile net loss to net cash used in operating activities: Stock-based compensation 6,410 3,928 Depreciation 29 8 Debt related fees and amortization expense 1,776 - Subsidiary portion of net losses 91,561 34,400 Gain on debt extinguishment - (421 ) Gain on litigation (1,400 ) - Changes in assets and liabilities: Prepaid expenses 111 (38 ) Accounts payable (90 ) (1,043 ) Accrued interest expense 778 998 Other liabilities (4,625 ) (902 ) Other assets 207 109 Net cash used in operating activities (13,001 ) (10,108 ) Investing activities: Capital expenditures (128 ) - Subsidiary advances, net 1,222 (95,105 ) Net cash provided by (used in) investing activities 1,094 (95,105 ) Financing activities: Proceeds from the exercise of stock options 206 1,304 Proceeds from issuance of common stock in equity offering 11,987 103,591 Net cash provided by financing activities 12,193 104,895 Net increase in cash, cash equivalents, and restricted cash 286 (318 ) Cash, cash equivalents and restricted cash at beginning of period - 318 Cash, cash equivalents, and restricted cash at end of period $ 286 $ - Supplemental disclosures of cash flow information, cash paid: Income taxes paid 7 7 Supplemental disclosures of cash flow information, non-cash transactions: Fair value of warrants issued to subordinated debt holders 1,939 1,546 Fair value of stock issued to a related party for guarantee fees 2,012 - Fair value of warrants issued for capital expenditures - 1,344 Fair value of warrants issued to lender for debt issuance costs 3,158 - Fair value of stock issued to lender 1,335 - Issuance of equity to pay off accounts payable - 893 |
Note 15 - Subsequent Events
Note 15 - Subsequent Events | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 15. Subordinated Notes On January 1, 2023, two June 30, 2023; ( not two Second Waiver and Amendment to Series A Preferred Unit Purchase Agreement On January 1st, 2023, not December 31, 2022, May 31, 2023, June 1, 2023, No.2 470. Third Eye Reserve Liquidity Facility On March 6, 2023, one April 1, 2024. April 1, 2024. may third April 1, 2024. may April 1, 2024. one may Third Eye Capital Limited Waiver and Amendment No. 25 On March 6, 2023, No. 25 No. 25” March 31, 2023, not 10 |
Note 16 - Liquidity
Note 16 - Liquidity | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | 16. Liquidity The accompanying financial statements have been prepared contemplating the realization of assets and satisfaction of liabilities in the normal course of business. As a result of negative capital and negative operating results, and collateralization of substantially all of the Company assets, we have been reliant on its senior secured lender to provide additional funding and have been required to remit substantially all excess cash from operations to the senior secured lender. In order to meet our obligations during the next twelve For the Keyes Plant, we plan to operate the plant and continue to improve its financial performance by adopting new technologies or process changes that allow for energy efficiency, cost reduction or revenue enhancements, as well as, execute upon awarded grants that improve energy and operational efficiencies resulting in lower cost, lower carbon demands and overall margin improvement. For Aemetis Biogas we plan to operate the biogas digesters to capture and monetize biogas as well as continue to build new dairy digesters and extend the existing pipeline in order to capture the higher carbon credits available in California. Funding for continued construction is based upon obtaining government guaranteed loans and executing on existing and new state grant programs. For the Riverbank project, we plan to raise the funds necessary to construct and operate the Carbon Zero plant in Riverbank, CA using loan guarantees and public financings based upon the licensed technology that generate federal and state carbon credits available for ultra-low carbon fuels utilizing lower cost, non-food advanced feedstocks to significantly increase margins. For all facilities in the United States, we plan to utilize the provision of the Inflation Reduction Act of 2022 For the Kakinada Plant, we plan to continue to develop sales channels for domestic products as the costs of feedstock normalize against the price of diesel, as recently announced governmental incentives take effect to promote the blending of biodiesel, and as feedstocks such as refined animal tallow are used domestically and exported. Additionally, we are in the process of obtaining approval to export refined animal tallow and biodiesel produced using animal tallow into international markets as the use of refined animal tallow received approval from the Pollution Control Board of India for production of biodiesel. In addition to the above we plan to continue to locate funding for existing and new business opportunities through a combination of working with our senior lender, restructuring existing loan agreements, selling bonds in the taxable and tax-exempt markets, selling equity through the ATM and otherwise, selling the current EB- 5 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation and Consolidation. not All intercompany balances and transactions have been eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
Revenue [Policy Text Block] | Revenue Recognition 606 California Ethanol: May 13, 2020, May 13, 2020 October, 2021, one September 30, 2021. October 1, 2021, one one The below table shows our sales in California Ethanol by product category: California Ethanol For the twelve months ended December 31, 2022 2021 Ethanol sales $ 165,876 $ 162,428 Wet distiller's grains sales 50,930 41,476 Other sales 11,388 7,347 $ 228,194 $ 211,251 We have elected to adopt the practical expedient that allows for excluding the significant financing component of a contract when estimating the transaction price when the transfer of promised goods to the customer and customer payment for such goods are expected to be within one one We also assessed principal versus agent criteria as we buy our feedstock from our customers and process and sell finished goods to those customers in some contractual agreements. For our California Ethanol segment, we buy corn as feedstock for the production of ethanol, from our working capital partner J.D. Heiskell. Prior to May 13, 2020, May 13, 2020, one second 2021, October 1, 2021 not We consider the purchase of corn as a cost of goods sold and the sale of WDG and, corn oil, upon trucks leaving the Keyes Plant, as revenue on the basis that (i) we control and bear the risk of gain or loss on the processing of corn which is purchased at market prices into ethanol and (ii) we have legal title to the goods during the processing time. The pricing for both WDG and corn oil is set independently. Revenues from WDG and corn oil are billed net of the related transportation and marketing charges. The transportation component is accounted for in cost of goods sold and the marketing component is accounted for in sales, general and administrative expense. Transportation and marketing charges are known within days of the transaction and are recorded at the actual amounts. We have elected an accounting policy under which these charges have been treated as fulfillment activities provided after control has transferred. As a result, these charges are recognized in cost of goods sold and selling, general and administrative expenses, respectively, when revenue is recognized. Revenues are recorded at the gross invoiced amount. Hence, we are the principal in California Ethanol segment where our customer and vendor may California Dairy Renewable Natural Gas: December 2018, 40 four 40 In addition to the existing and operating dairy digesters, we currently have five 30 India Biodiesel: not one The below table shows our sales in India by product category: India Biodiesel For the twelve months ended December 31, 2022 2021 Biodiesel sales $ 27,041 $ 465 Other sales 1,070 231 $ 28,111 $ 696 In India, we also assessed principal versus agent criteria as we buy our feedstock from our customers and process and sell finished goods to those same customers in certain contractual agreements. In those cases, we receive the legal title to feedstock from our customers once it is on our premises. We control the processing and production of biodiesel based on contract terms and specifications. The pricing for both feedstock and biodiesel is set independently. We hold the title and risk to biodiesel according to agreements we enter into in these situations. Hence, we are the principal in India Biodiesel sales scenarios where our customer and vendor may |
Cost of Goods and Service [Policy Text Block] | Cost of Goods Sold December 31, 2022 2021 d $5.0 million related t 2021, 2021 |
Shipping and Handling Costs [Policy Text Block] | Shipping and Handling Costs |
Research and Development Expense, Policy [Policy Text Block] | Research and Development. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash, Cash Equivalents, and Restricted Cash three may not The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheet to the total of the same such amounts shown in the statement of cash flows As of December 31, 2022 December 31, 2021 Cash and cash equivalents $ 4,313 $ 7,751 Restricted cash included in other current assets 725 - Restricted cash included in other assets 1,961 - Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 6,999 $ 7,751 |
Receivable [Policy Text Block] | Accounts Receivable. third 30 may 30 The Company maintains an allowance for doubtful accounts for balances that appear to have specific collection issues and estimates an allowance for expected credit losses. The collection process is based on the age of the invoice and requires attempted contacts with the customer at specified intervals. If, after a specified number of days, the Company has been unsuccessful in its collection efforts, a bad debt allowance is recorded for the balance in question. Delinquent accounts receivables are charged against the allowance for doubtful accounts once un-collectability has been determined. The factors considered in reaching this determination are the apparent financial condition of the customer and the Company’s success in contacting and negotiating with the customer. If the financial condition of the Company’s customers were to deteriorate, additional allowances may December 31, 2021 second 2022. |
Inventory, Policy [Policy Text Block] | Inventories first first |
Consolidation, Variable Interest Entity, Policy [Policy Text Block] | Variable Interest Entities. 1 2 not |
Property, Plant and Equipment, Policy [Policy Text Block] | Property, Plant and Equipment. The Company evaluates the recoverability of long-lived assets with finite lives in accordance with ASC Subtopic 360 10 35 Property Plant and Equipment Subsequent Measurement, may not may not not December 31, 2022 2021 |
California Energy Commission Low Carbon Fuel Production Program [Policy Text Block] | California Energy Commission Low-Carbon Fuel Production Program December 31, 2022 |
California Department of Food and Agriculture Dairy Digester Research and Development Grant [Policy Text Block] | California Department of Food and Agriculture Dairy Digester Research and Development Grant 2 019, two second 2021. In October 2020, six 2020 December 31, 2022 |
California Energy Commission Low Carbon Advanced Ethanol Grant Program [Policy Text Block] | California Energy Commission Low Carbon Advanced Ethanol Grant Program. May 2019, not December 31, 2022 2021 |
U.S. Department of Food and Agriculture Forest Service Grant [Policy Text Block] | U.S. Department of Food and Agriculture Forest Service Grant. December 31, 2022 |
California Energy Commission Grant For Solar Microgrid DSC and Battery Backup System [Policy Text Block] | California Energy Commission Grant for Solar Microgrid, DSC and Battery Backup System. 1.56 1.25MW/2.5MWh December 31, 2022 |
California Department of Forestry and Fire Protection Grant [Policy Text Block] | California Department of Forestry and Fire Protection Grant. May 2022. 2 100% December 31, 2022 |
California Department of Forestry and Fire Protection Grant 2 [Policy Text Block] | California Department of Forestry and Fire Protection Grant. May 2022. December 31, 2022 |
United States Forest Service Community Wood Grant [Policy Text Block] | U.S Forest Service Community Wood Grant. May 2022. 3 no December 31, 2022 |
United States Department of Biofuel Producer Program Grant [Policy Text Block] | USDA s Biofuel Producer Program Grant. second 2022, 19 |
California Energy Commission Grant for Mechanical Vapor Recompression System [Policy Text Block] | California Energy Commission Grant for Mechanical Vapor Recompression System. no December 31, 2022 |
Pacific Gas and Electric SEM Manufacturer's Incentive Program [Policy Text Block] | Pacific Gas and Electric SEM Manufacturer s Incentive Program. fourth 2022, |
Income Tax, Policy [Policy Text Block] | Income Taxes. 740 Income Taxes ASC 740 not may not December 31, 2022 2021 The Company is subject to income tax audits by the respective tax authorities in all of the jurisdictions in which it operates. The determination of tax liabilities in each of these jurisdictions requires the interpretation and application of complex and sometimes uncertain tax laws and regulations. The recognition and measurement of current taxes payable or refundable and deferred tax assets and liabilities requires that the Company make certain estimates and judgments. Changes to these estimates or a change in judgment may In 2018, 1 2 |
Earnings Per Share, Policy [Policy Text Block] | Basic and Diluted Net Income (Loss) per Share. December 31, 2022 2021 The following table shows the number of potentially dilutive shares excluded from the diluted net loss per share calculation as of December 31, 2022 2021 As of December 31, 2022 December 31, 2021 Series B preferred (post split basis) 127 128 Common stock options and warrants 5,050 3,819 Debt with conversion feature at $ 30 1,240 1,220 Total number of potentially dilutive shares excluded from the diluted net (loss) per share calculation 6,417 5,167 |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Loss. 220 Comprehensive Income not |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Translation/Transactions. |
Segment Reporting, Policy [Policy Text Block] | Segments. three The “California Ethanol” reportable segment includes the Company’s 65 The “California Dairy Renewable Natural Gas” reportable segment includes, the dairy digesters, pipeline and gas condition unit for the production of biogas from dairies near Keyes, California. The “India Biodiesel” reportable segment includes the Company’s 50 The Company has additional operating segments that were determined not |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments. not 3 |
Share-Based Payment Arrangement [Policy Text Block] | Share-Based Compensation. 718 Stock Compensation |
Commitments and Contingencies, Policy [Policy Text Block] | Commitments and Contingencies. 450 Contingencies 450 one |
Debt, Policy [Policy Text Block] | Convertible Instruments. Debt Issuance Costs. Troubled Debt Restructuring Accounting. Debt Modification Accounting 540 50 Debt Modification and Extinguishments 10 10 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements ASU 2021 10: 832 2022, No. 2021 10, 1 |
Note 1 - Nature of Activities_2
Note 1 - Nature of Activities and Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | California Ethanol For the twelve months ended December 31, 2022 2021 Ethanol sales $ 165,876 $ 162,428 Wet distiller's grains sales 50,930 41,476 Other sales 11,388 7,347 $ 228,194 $ 211,251 India Biodiesel For the twelve months ended December 31, 2022 2021 Biodiesel sales $ 27,041 $ 465 Other sales 1,070 231 $ 28,111 $ 696 |
Schedule of Cash and Cash Equivalents [Table Text Block] | As of December 31, 2022 December 31, 2021 Cash and cash equivalents $ 4,313 $ 7,751 Restricted cash included in other current assets 725 - Restricted cash included in other assets 1,961 - Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 6,999 $ 7,751 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | As of December 31, 2022 December 31, 2021 Series B preferred (post split basis) 127 128 Common stock options and warrants 5,050 3,819 Debt with conversion feature at $ 30 1,240 1,220 Total number of potentially dilutive shares excluded from the diluted net (loss) per share calculation 6,417 5,167 |
Note 2 - Inventories (Tables)
Note 2 - Inventories (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | As of December 31, 2022 December 31, 2021 Raw materials $ 2,971 $ 727 Work-in-progress 127 2,083 Finished goods 1,560 2,316 Total inventories $ 4,658 $ 5,126 |
Note 3 - Property, Plant and _2
Note 3 - Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | As of December 31, 2022 December 31, 2021 Land $ 7,344 $ 4,082 Plant and buildings 99,116 97,110 Furniture and fixtures 1,831 1,334 Machinery and equipment 15,209 5,294 Tenant improvements 56 - Construction in progress 88,934 55,859 Property held for development 15,437 15,437 Finance lease right of use assets 3,045 2,317 Total gross property, plant & equipment 230,972 181,433 Less accumulated depreciation (50,531 ) (46,332 ) Total net property, plant & equipment $ 180,441 $ 135,101 |
Depreciation Of Property, Plant, and Equipment [Table Text Block] | Years Plant and buildings 20 - 30 Machinery and equipment 5 - 15 Furniture and fixtures 3 - 5 |
Note 4 - Debt (Tables)
Note 4 - Debt (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | December 31, 2022 December 31, 2021 Third Eye Capital term notes $ 7,141 $ 7,095 Third Eye Capital revolving credit facility 60,602 75,980 Third Eye Capital revenue participation term notes 11,963 11,915 Third Eye Capital acquisition term notes 26,578 26,461 Third Eye Capital Fuels Revolving Line 27,410 - Third Eye Capital Carbon Revolving Line 22,710 - Construction Loan 19,820 - Cilion shareholder seller notes payable 6,821 6,619 Subordinated notes 15,931 14,304 EB-5 promissory notes 41,404 40,692 Term loans on capital expenditures 5,860 5,701 Total debt 246,240 188,767 Less current portion of debt 49,219 22,778 Total long term debt $ 197,021 $ 165,989 |
Schedule of Maturities of Long-Term Debt [Table Text Block] | Twelve months ended December 31, Debt Repayments 2023 $ 49,219 2024 140,001 2025 32,574 2026 27,712 2027 981 There after 895 Total debt 251,382 Debt issuance costs (5,142 ) Total debt, net of debt issuance costs $ 246,240 |
Note 5 - Commitments and Cont_2
Note 5 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Twelve Months Ended December 31, 2022 2021 Operating lease cost Operating lease expense $ 673 $ 812 Short term lease expense 176 207 Variable lease expense 91 107 Total operating lease cost $ 940 $ 1,126 Finance lease cost Amortization of right-of-use assets $ 179 $ 230 Interest on lease liabilities 310 81 Total finance lease cost $ 489 $ 311 Twelve Months Ended December 31, 2022 2021 Operating cash flows used in operating leases $ 766 $ 698 Operating cash flows used in finance leases 310 81 Financing cash flows used in finance leases 481 505 |
Supplemental Non-cash Flow Information Related to Leases [Table Text Block] | Twelve Months Ended December 31, 2022 2021 Operating leases Accretion of the lease liability $ 340 $ 378 Amortization of right-of-use assets 333 434 Weighted Average Remaining Lease Term Operating leases (in years) 5.2 Finance leases (in years) 14.0 Weighted Average Discount Rate Operating leases 14.2 % Finance leases 13.2 % |
Supplemental Balance Sheet Information Related to Leases [Table Text Block] | As of December 31, 2022 December 31, 2021 Operating leases Operating lease right-of-use assets $ 2,449 $ 2,462 Current portion of operating lease liability 338 260 Long term operating lease liability 2,189 2,318 Total operating lease liabilities 2,527 2,578 Finance leases Property and equipment, at cost $ 3,045 $ 2,317 Accumulated depreciation (112 ) (376 ) Property and equipment, net 2,933 1,941 Other current liability 71 550 Other long term liabilities 2,911 720 Total finance lease liabilities 2,982 1,270 |
Lease Term [Table Text Block] | Year Ended December 31, Operating leases Finance leases 2023 $ 667 $ 429 2024 682 179 2025 681 168 2026 626 145 2027 645 145 There after 274 11,000 Total lease payments 3,575 12,066 Less imputed interest (1,048 ) (9,084 ) Total lease liability $ 2,527 $ 2,982 The Company acts as sublessor in certain leasing arrangements, primarily related to land and buildings. Fixed sublease payments received are recognized on a straight-line basis over the sublease term. Sublease income and head lease expense for these transactions are recognized on a gross basis on the consolidated financial statements. Sublease income was recorded in the other operating income section of the Consolidated Statements of Operations and Comprehensive Loss. |
Operating Lease, Lease Income [Table Text Block] | December 31, 2022 December 31, 2021 Lease income $ 1,255 $ - |
Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity [Table Text Block] | Year ended December 31, 2023 $ 841 2024 572 2025 501 2026 474 2027 474 There after 1,066 Total future lease commitments $ 3,928 |
Note 7 - Stockholders' Equity (
Note 7 - Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Stock by Class [Table Text Block] | Shares Issued and Authorized Outstanding December 31, Shares 2022 2021 Series B preferred stock 7,235 1,270 1,275 Undesignated 57,765 - - 65,000 1,270 1,275 |
Note 8 - Outstanding Warrants (
Note 8 - Outstanding Warrants (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Warrants, Valuation Assumptions [Table Text Block] | Description For the year ended December 31, 2022 2021 Dividend-yield 0 % 0 % Risk-free interest rate 1.75 % 0.21 % Expected volatility 151.41 % 136.16 % Expected life (years) 3 2 Exercise price per share $ 10.47 $ 0.01 Market value per share on grant date $ 11.29 $ 9.92 Fair value per share on grant date $ 9.68 $ 9.91 |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Warrants Outstanding & Exercisable Weighted - Average Exercise Price Average Remaining Term in Years Outstanding December 31, 2020 95 $ 2.59 4.95 Granted 292 0.01 Exercised (332 ) 0.32 Outstanding December 31, 2021 55 $ 2.59 3.95 Granted 527 10.47 Exercised (227 ) 0.01 Outstanding December 31, 2022 355 $ 15.92 7.48 |
Note 9 - Stock-Based Compensa_2
Note 9 - Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award [Table Text Block] | Shares Available for Grant Number of Shares Outstanding Weighted-Average Exercise Price Balance as of December 31, 2020 380 5,327 $ 1.14 Authorized 816 - - Options Granted (1,141 ) 1,141 5.60 RSAs Granted (154 ) - - Exercised - (2,498 ) 1.39 Forfeited/expired 241 (207 ) 1.84 Balance as of December 31, 2021 142 3,763 $ 2.29 Authorized 1,338 - - Options Granted (1,307 ) 1,307 10.97 RSAs Granted (89 ) - - Exercised - (295 ) 0.93 Forfeited/expired 81 (81 ) 11.63 Balance as of December 31, 2022 165 4,694 $ 4.63 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block] | Number of Shares Weighted Average Exercise Price Remaining Contractual Term (In Years) Aggregate Intrinsic Value1 2022 Vested and Exercisable 3,170 $ 2.46 6.98 $ 7,419 Unvested 1,524 9.13 8.81 647 Total 4,694 $ 4.63 7.58 $ 8,066 2021 Vested and Exercisable 2,346 $ 1.32 7.68 $ 25,771 Unvested 1,417 3.89 8.64 12,961 Total 3,763 $ 2.29 8.04 $ 38,732 |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Description For the year ended December 31, 2022 2021 Dividend-yield 0 % 0 % Risk-free interest rate 2.03 % 0.83 % Expected volatility 117.21 % 100.47 % Expected life (years) 7.00 6.59 Market value per share on grant date $ 10.97 $ 5.60 Fair value per share on grant date $ 9.71 $ 4.68 |
Note 10 - Agreements (Tables)
Note 10 - Agreements (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Collaborative Arrangement and Arrangement Other than Collaborative [Table Text Block] | As of and for the twelve months ended December 31, 2022 2021 Wet distiller's grains sales $ 50,930 $ 41,476 Corn oil sales 10,168 6,184 Corn purchases 191,401 159,309 Accounts receivable - 308 Accounts payable 27 862 |
Note 11 - Segment Information (
Note 11 - Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | For the year ended December 31, 2022 California Ethanol California Dairy Renewable Natural Gas India Biodiesel All other Total Revenues from external customers $ 228,194 $ 208 $ 28,111 $ - $ 256,513 Intersegment revenues - 1,002 - - 1,002 Gross profit (loss) (13,017 ) (778 ) 8,273 (13 ) (5,535 ) Interest expense, including amortization of debt fees 20,637 742 119 7,272 28,770 Accretion and other expenses of Series A preferred units - 9,888 - - 9,888 Loss on debt extinguishment - 49,386 - - 49,386 Capital expenditures 8,399 22,884 129 7,745 39,157 Depreciation 4,148 615 650 122 5,535 Total Assets 66,794 77,714 16,120 46,486 207,114 For the year ended December 31, 2021 California Ethanol California Dairy Renewable Natural Gas India Biodiesel All other Total Revenues from external customers $ 211,251 $ - $ 696 $ 2 $ 211,949 Intersegment revenues - 1,445 - - 1,445 Gross profit (loss) 9,565 (488 ) (23 ) (1,115 ) 7,939 Interest expense, including amortization of debt fees 21,625 13 - 2,419 24,057 Accretion and other expenses of Series A preferred units - 7,718 - - 7,718 Gain on debt extinguishment (713 ) - - (421 ) (1,134 ) Capital expenditures 2,763 17,702 142 6,045 26,652 Depreciation 4,132 577 686 53 5,448 Total Assets 75,909 40,027 10,779 34,116 160,831 |
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] | Revenues 2022 2021 Total revenues for reportable segments $ 257,515 $ 213,394 Elimination of intersegment revenues (1,002 ) (1,445 ) Total consolidated revenues $ 256,513 $ 211,949 |
Note 13 - Income Tax (Tables)
Note 13 - Income Tax (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2022 2021 Current: Federal $ - $ - State and Local 13 11 Foreign 230 - 243 11 Deferred: Federal - - State and Local - - Foreign 810 (139 ) Income tax expense/(benefit) $ 1,053 $ (128 ) |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Year Ended December 31, 2022 2021 United States $ (112,959 ) $ (45,723 ) Foreign 6,254 (1,552 ) Pretax loss $ (106,705 ) $ (47,275 ) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, 2022 2021 Income tax benefit at the federal statutory rate $ (22,408 ) $ (9,928 ) State tax benefit (496 ) (2,875 ) Foreign tax differential 168 (96 ) Stock-based compensation 295 252 Interest Expense 58 1,842 GILTI Inclusion 1,126 - Prior year true-ups 55 140 Non-includible US Entities 13,499 - Other 46 497 Credits (2,373 ) (2,074 ) Valuation Allowance 11,083 12,114 Income Tax Expense (Benefit) 1,053 (128 ) Effective Tax Rate -0.99 % 0.27 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Year Ended December 31, 2022 2021 Deferred Tax Assets Organizational Costs, Start-up and Intangible Assets $ 2,309 $ 5,068 Stock Based Compensation 1,842 1,174 NOLs, Unabsorbed Depreciation and R&D Credits C/F's 68,201 61,624 Interest expense carryover 22,374 17,436 Ethanol Credits 1,500 1,500 Carbon Oxide Sequestration Credit 5,827 3,460 Accrued Expenses 2,001 3,312 Operating Lease Liability 1,512 1,082 Other, net 113 737 Total Deferred Tax Assets 105,679 95,392 Valuation Allowance (95,214 ) (83,260 ) Net Deferred Tax Assets 10,465 12,133 Deferred Tax Liabilities Right of Use Asset (1,477 ) (1,238 ) Property, Plant & Equipment (9,788 ) (10,882 ) Other, net (10 ) (13 ) Total Deferred Tax Liabilities (11,275 ) (12,133 ) Net Deferred Tax Liabilities $ (810 ) $ - |
Summary of Income Tax Examinations [Table Text Block] | United States — Federal 2007 – present United States — State 2008 – present India 2013 – present Mauritius 2006 – present |
Note 14 - Parent Company Fina_2
Note 14 - Parent Company Financial Statements (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | 2022 2021 Assets Current assets Cash and cash equivalents $ 286 $ - Receivables due from subsidiaries 98,780 93,571 Prepaid expenses 611 290 Other current assets 7 116 Total current assets 99,684 93,977 Investment in Aemetis Property Keyes, Inc. 1,274 496 Investment in Aemetis International, Inc. 6,659 2,546 Investment in Aemetis Advanced Products Riverbank, Inc. 173 23 Investment in Aemetis Carbon Capture, Inc. - 54 Total investments in Subsidiaries, net of advances 8,106 3,119 Property, plant and equipment, net 135 36 Other assets 2,377 2,475 Total Assets $ 110,302 $ 99,607 Liabilities & stockholders' deficit Current liabilities Accounts payable $ 2,934 $ 3,024 Mandatorily redeemable Series B convertible preferred 4,082 3,806 Other current liabilities 4,269 9,521 Total current liabilities 11,285 16,351 Long term liabilities: Operating lease liability 2,047 2,318 Subsidiary obligation in excess of investment Investment in AE Advanced Fuels, Inc. 177,856 150,424 Investment in Aemetis Americas, Inc 205 205 Investment in Aemetis Biofuels, Inc. 2,738 2,738 Investment in Aemetis Technologies, Inc. 4,716 4,536 Investment in AE Advanced Products Keyes , Inc. 270 383 Investment in Aemetis Health Products, Inc. 2,076 2,137 Investment in Goodland Advanced Fuels, Inc. 16,869 13,587 Investment in Aemetis Biogas LLC 91,292 27,166 Investment in Aemetis Carbon Capture Inc 2,323 - Investment in Aemetis Properties Riverbank, Inc. 479 - Total subsidiary obligation in excess of investment 298,824 201,176 Total long term liabilities 300,871 203,494 Stockholders' deficit Series B Preferred convertible stock 1 1 Common stock 36 33 Additional paid-in capital 232,546 205,305 Accumulated deficit (428,985 ) (321,227 ) Accumulated other comprehensive loss (5,452 ) (4,350 ) Total stockholders' deficit (201,854 ) (120,238 ) Total liabilities & stockholders' deficit $ 110,302 $ 99,607 |
Condensed Income Statement [Table Text Block] | 2022 2021 Equity in subsidiary losses $ (91,561 ) $ (34,400 ) Selling, general and administrative expenses 15,203 11,806 Operating loss (106,764 ) (46,206 ) Other (income) expense Interest expense 806 1,031 Debt related fees and amortization expense 1,581 - Other income (1,400 ) (97 ) Loss before income taxes (107,751 ) (47,140 ) Income tax expense 7 7 Net loss (107,758 ) (47,147 ) Other comprehensive loss Foreign currency translation adjustment (1,102 ) (27 ) Comprehensive loss $ (108,860 ) $ (47,174 ) |
Condensed Cash Flow Statement [Table Text Block] | 2022 2021 Operating activities: Net loss (107,758 ) (47,147 ) Adjustments to reconcile net loss to net cash used in operating activities: Stock-based compensation 6,410 3,928 Depreciation 29 8 Debt related fees and amortization expense 1,776 - Subsidiary portion of net losses 91,561 34,400 Gain on debt extinguishment - (421 ) Gain on litigation (1,400 ) - Changes in assets and liabilities: Prepaid expenses 111 (38 ) Accounts payable (90 ) (1,043 ) Accrued interest expense 778 998 Other liabilities (4,625 ) (902 ) Other assets 207 109 Net cash used in operating activities (13,001 ) (10,108 ) Investing activities: Capital expenditures (128 ) - Subsidiary advances, net 1,222 (95,105 ) Net cash provided by (used in) investing activities 1,094 (95,105 ) Financing activities: Proceeds from the exercise of stock options 206 1,304 Proceeds from issuance of common stock in equity offering 11,987 103,591 Net cash provided by financing activities 12,193 104,895 Net increase in cash, cash equivalents, and restricted cash 286 (318 ) Cash, cash equivalents and restricted cash at beginning of period - 318 Cash, cash equivalents, and restricted cash at end of period $ 286 $ - Supplemental disclosures of cash flow information, cash paid: Income taxes paid 7 7 Supplemental disclosures of cash flow information, non-cash transactions: Fair value of warrants issued to subordinated debt holders 1,939 1,546 Fair value of stock issued to a related party for guarantee fees 2,012 - Fair value of warrants issued for capital expenditures - 1,344 Fair value of warrants issued to lender for debt issuance costs 3,158 - Fair value of stock issued to lender 1,335 - Issuance of equity to pay off accounts payable - 893 |
Note 1 - Nature of Activities_3
Note 1 - Nature of Activities and Summary of Significant Accounting Policies (Details Textual) $ in Thousands, gal in Millions | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||
May 31, 2022 USD ($) | Oct. 31, 2020 USD ($) | Dec. 31, 2022 USD ($) | Jun. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) gal | Dec. 31, 2021 USD ($) | |
Cost of Goods and Services Sold, Total | $ 262,048 | $ 204,010 | ||||
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 0 | 0 | 1,404 | |||
Awarded Grants | 8,000 | |||||
Proceeds from Grantors | 3,900 | |||||
Matching Contribution | 1,600 | |||||
LCFPP [Member] | ||||||
Awarded Grants | 4,200 | |||||
Proceeds from Grantors | 3,800 | |||||
CDFAs[Member] | ||||||
Awarded Grants | $ 7,800 | 3,200 | ||||
Proceeds from Grantors | 2,400 | |||||
CEC [Member] | ||||||
Matching Contribution | 7,900 | |||||
Actual Expenses Incurred | 5,000 | |||||
Unearned Grant Proceeds | 1,700 | 1,700 | ||||
CEC [Member] | Maximum [Member] | ||||||
Awarded Grants | 5,000 | |||||
CAL FIRE Business and Workforce Development Grant Program [Member] | ||||||
Awarded Grants | $ 2,000 | |||||
Proceeds from Grantors | 0 | |||||
Matching Contribution | 5,800 | |||||
CAL Fire [Member] | ||||||
Awarded Grants | 500 | |||||
Proceeds from Grantors | 0 | |||||
US Forest Service [Member] | ||||||
Awarded Grants | 642 | |||||
Matching Contribution | $ 2,400 | |||||
USDA Bioguel Producer Program [Member] | ||||||
Proceeds from Grantors | $ 14,200 | |||||
AAFK Plan [Member] | ||||||
Awarded Grants | 6,000 | |||||
Matching Contribution | 5,300 | |||||
PG&E SEM Incentive Program [Member] | ||||||
Proceeds from Grantors | $ 374 | |||||
Accounts Receivables [Member] | ||||||
Accounts Receivable, Allowance for Credit Loss, Ending Balance | 1,400 | |||||
California Triennial Obligation on GHG Emissions [Member] | ||||||
Cost of Goods and Services Sold, Total | 300 | 5,000 | ||||
California Triennial Obligation on GHG Emissions [Member] | Previously Reported [Member] | ||||||
Cost of Goods and Services Sold, Total | $ 3,200 | |||||
U.S. Department of Food And Agriculture Forest Service [Member] | ||||||
Awarded Grants | 245 | |||||
Proceeds from Grantors | $ 166 | |||||
Kakinada Plant [Member] | ||||||
GallonPerYear (Gallon) | gal | 50 |
Note 1 - Nature of Activities_4
Note 1 - Nature of Activities and Summary of Significant Accounting Policies - Schedule of America By Product Category (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
India Biodiesel [Member] | ||
Sales | $ 28,111 | $ 696 |
California [Member] | ||
Sales | 228,194 | 211,251 |
Ethanol Sales [Member] | California [Member] | ||
Sales | 165,876 | 162,428 |
Biodiesel Sales [Member] | India Biodiesel [Member] | ||
Sales | 27,041 | 465 |
Wet Distiller's Grains Sales [Member] | California [Member] | ||
Sales | 50,930 | 41,476 |
Other Sales [Member] | India Biodiesel [Member] | ||
Sales | 1,070 | 231 |
Other Sales [Member] | California [Member] | ||
Sales | $ 11,388 | $ 7,347 |
Note 1 - Nature of Activities_5
Note 1 - Nature of Activities and Summary of Significant Accounting Policies - Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Cash and cash equivalents | $ 4,313 | $ 7,751 |
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows | 6,999 | $ 7,751 |
Other Current Assets [Member] | ||
Restricted cash | 725 | |
Other Assets [Member] | ||
Restricted cash | $ 1,961 |
Note 1 - Nature of Activities_6
Note 1 - Nature of Activities and Summary of Significant Accounting Policies - Schedule of Dilutive Securities (Details) - shares | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Total Number of Potentially Dilutive Shares Excluded from the basic and diluted net loss per share calculation (in shares) | 6,417 | 5,167 |
Series B Convertible Preferred Stock [Member] | ||
Total Number of Potentially Dilutive Shares Excluded from the basic and diluted net loss per share calculation (in shares) | 127 | 128 |
Common Stock Options and Warrants [Member] | ||
Total Number of Potentially Dilutive Shares Excluded from the basic and diluted net loss per share calculation (in shares) | 5,050 | 3,819 |
Debt with Conversion Feature [Member] | ||
Total Number of Potentially Dilutive Shares Excluded from the basic and diluted net loss per share calculation (in shares) | 1,240 | 1,220 |
Note 1 - Nature of Activities_7
Note 1 - Nature of Activities and Summary of Significant Accounting Policies - Schedule of Dilutive Securities (Details) (Parentheticals) - $ / shares | Dec. 31, 2022 | Dec. 31, 2021 |
Debt with Conversion Feature [Member] | ||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 30 | $ 30 |
Note 2 - Inventories (Details T
Note 2 - Inventories (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Lower Cost Or Market Adjustment | $ 100 | $ 0 |
Note 2 - Inventories - Schedule
Note 2 - Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Raw materials | $ 2,971 | $ 727 |
Work-in-progress | 127 | 2,083 |
Finished goods | 1,560 | 2,316 |
Total inventories | $ 4,658 | $ 5,126 |
Note 3 - Property, Plant and _3
Note 3 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Capitalized Interest Costs, Including Allowance for Funds Used During Construction, Total | $ 11,100 | $ 4,700 |
Depreciation, Total | $ 5,535 | $ 5,448 |
Note 3 - Property, Plant and _4
Note 3 - Property, Plant and Equipment - Schedule of Property, Plant, and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Land | $ 7,344 | $ 4,082 |
Plant and buildings | 99,116 | 97,110 |
Furniture and fixtures | 1,831 | 1,334 |
Machinery and equipment | 15,209 | 5,294 |
Tenant improvements | 56 | 0 |
Construction in progress | 88,934 | 55,859 |
Property held for development | 15,437 | 15,437 |
Total gross property, plant & equipment | 230,972 | 181,433 |
Less accumulated depreciation | (50,531) | (46,332) |
Total net property, plant & equipment | 180,441 | 135,101 |
Property, Plant and Equipment [Member] | ||
Finance lease right of use assets | $ 3,045 | $ 2,317 |
Note 3 - Property, Plant and _5
Note 3 - Property, Plant and Equipment - Depreciation of property, Plant, and Equipment (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Minimum [Member] | Machinery and Equipment [Member] | |
Plant and buildings (Year) | 5 years |
Minimum [Member] | Furniture and Fixtures [Member] | |
Plant and buildings (Year) | 3 years |
Minimum [Member] | Property, Plant and Equipment [Member] | |
Plant and buildings (Year) | 20 years |
Maximum [Member] | Machinery and Equipment [Member] | |
Plant and buildings (Year) | 15 years |
Maximum [Member] | Furniture and Fixtures [Member] | |
Plant and buildings (Year) | 5 years |
Maximum [Member] | Property, Plant and Equipment [Member] | |
Plant and buildings (Year) | 30 years |
Note 4 - Debt (Details Textual)
Note 4 - Debt (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | 17 Months Ended | ||||||||||||||||||||||||||||
Jan. 01, 2023 | Jul. 01, 2022 | Mar. 02, 2022 | Jan. 01, 2022 | Feb. 27, 2019 | Jul. 10, 2017 | Jul. 06, 2012 | Mar. 04, 2011 | Mar. 31, 2020 | Sep. 30, 2019 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Mar. 06, 2023 | Oct. 04, 2022 | Aug. 08, 2022 | Aug. 01, 2022 | Jul. 26, 2022 | May 11, 2022 | Mar. 08, 2022 | Nov. 05, 2021 | Aug. 09, 2021 | Mar. 14, 2021 | Dec. 31, 2020 | May 01, 2020 | Mar. 06, 2020 | Nov. 21, 2019 | Jul. 15, 2017 | Jan. 09, 2012 | Jan. 06, 2012 | Nov. 30, 2008 | |
Long-Term Debt, Total | $ 246,240,000 | $ 246,240,000 | |||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 15.92 | $ 2.59 | $ 15.92 | $ 2.59 | |||||||||||||||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 7 years 5 months 23 days | 3 years 11 months 12 days | 7 years 5 months 23 days | 4 years 11 months 12 days | |||||||||||||||||||||||||||
Short-Term Debt, Total | $ 36,754,000 | $ 14,586,000 | $ 36,754,000 | ||||||||||||||||||||||||||||
Debt, Long-Term and Short-Term, Combined Amount, Total | 246,240,000 | 188,767,000 | 246,240,000 | ||||||||||||||||||||||||||||
Other Long-Term Debt, Noncurrent | $ 11,678,000 | 12,038,000 | $ 11,678,000 | ||||||||||||||||||||||||||||
Stock Issued Under Fuels Revolving Line [Member] | |||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 100,000 | ||||||||||||||||||||||||||||||
Five Year Warrants in Connection With New Credit Facility [Member] | |||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 10.20 | $ 10.20 | |||||||||||||||||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | 5 years | |||||||||||||||||||||||||||||
Ten Year Warrants in Connection With New Credit Facility [Member] | |||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 20 | $ 20 | |||||||||||||||||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 10 years | 10 years | |||||||||||||||||||||||||||||
Third Eye Capital [Member] | Five Year Warrants in Connection With New Credit Facility [Member] | |||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 50,000 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 10.20 | ||||||||||||||||||||||||||||||
Third Eye Capital [Member] | Ten Year Warrants in Connection With New Credit Facility [Member] | |||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 250,000 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 20 | ||||||||||||||||||||||||||||||
AAFK [Member] | Warrants in Connection With Subordinated Notes [Member] | |||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 | ||||||||||||||||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 2 years | 2 years | 2 years | ||||||||||||||||||||||||||||
Class of Warrant or Right, Issued (in shares) | 113,000 | 113,000 | |||||||||||||||||||||||||||||
Subsequent Event [Member] | AAFK [Member] | Warrants in Connection With Subordinated Notes [Member] | |||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.01 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Issued (in shares) | 113,000 | ||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | |||||||||||||||||||||||||||||||
Repayments of Long-Term Lines of Credit | $ 16,000,000 | ||||||||||||||||||||||||||||||
Property Taxes Payment | 6,100,000 | ||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | GAFI [Member] | |||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 10,000,000 | ||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Prime Rate [Member] | GAFI [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 7.75% | ||||||||||||||||||||||||||||||
Revolving Credit Facility [Member] | Prime Rate [Member] | GAFI [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 12% | ||||||||||||||||||||||||||||||
Capital Revolving Credit Facility Fuels And Carbon Lines [Member] | GAFI and ACCI [Member] | |||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 100,000,000 | ||||||||||||||||||||||||||||||
Fuels Revolving Line [Member] | GAFI [Member] | |||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 50,000,000 | ||||||||||||||||||||||||||||||
Carbon Revolving Line [Member] | ACCI [Member] | |||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 50,000,000 | ||||||||||||||||||||||||||||||
Third Eye Capital [Member] | |||||||||||||||||||||||||||||||
Payments of Financing Costs, Total | $ 100,000 | ||||||||||||||||||||||||||||||
Third Eye Capital [Member] | Mr. McAfee [Member] | |||||||||||||||||||||||||||||||
Net Amount at Risk by Product and Guarantee, Net Amount at Risk | $ 8,000,000 | $ 8,000,000 | |||||||||||||||||||||||||||||
Third Eye Capital [Member] | Revolving Credit Facility [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 18,000,000 | ||||||||||||||||||||||||||||||
Third Eye Capital [Member] | Revolving Credit Facility [Member] | AAFK [Member] | |||||||||||||||||||||||||||||||
Long-Term Debt, Total | 61,600,000 | 61,600,000 | |||||||||||||||||||||||||||||
Debt Issuance Costs, Net, Total | $ 1,000,000 | $ 1,000,000 | |||||||||||||||||||||||||||||
Third Eye Capital [Member] | Revolving Credit Facility [Member] | Prime Rate [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 21.25% | 21.25% | |||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 13.75% | ||||||||||||||||||||||||||||||
Third Eye Capital [Member] | Acquisition Term Notes [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 15,000,000 | ||||||||||||||||||||||||||||||
Third Eye Capital [Member] | Reserve Liquidity Facility [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 30% | 30% | |||||||||||||||||||||||||||||
Line of Credit Facility, Current Borrowing Capacity | $ 50,000,000 | $ 50,000,000 | |||||||||||||||||||||||||||||
Long-Term Debt, Total | $ 0 | $ 0 | |||||||||||||||||||||||||||||
Term Loan [Member] | GAFI [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 15,000,000 | ||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10% | ||||||||||||||||||||||||||||||
Term Loan [Member] | Third Eye Capital [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | 7,200,000 | ||||||||||||||||||||||||||||||
Revenue Participation Term Notes [Member] | Third Eye Capital [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 10,000,000 | ||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5% | 5% | |||||||||||||||||||||||||||||
Revenue Participation Term Notes [Member] | Third Eye Capital [Member] | AAFK [Member] | |||||||||||||||||||||||||||||||
Long-Term Debt, Total | $ 12,000,000 | $ 12,000,000 | |||||||||||||||||||||||||||||
Debt Issuance Costs, Net, Total | $ 69,000 | $ 69,000 | |||||||||||||||||||||||||||||
Short-term Credit Facility for Working Capital [Member] | Third Eye Capital [Member] | |||||||||||||||||||||||||||||||
Proceeds from Lines of Credit, Total | $ 2,100,000 | $ 600,000 | $ 700,000 | ||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 14% | ||||||||||||||||||||||||||||||
Amendment No. 19 [Member] | Third Eye Capital [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Fee Amount | $ 100,000 | ||||||||||||||||||||||||||||||
Debt Instrument, Extension Fee, Percent of Note Indebtedness | 1% | ||||||||||||||||||||||||||||||
Amendment No. 20 [Member] | Third Eye Capital [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Fee Amount | $ 300,000 | ||||||||||||||||||||||||||||||
Debt Instrument, Extension Fee, Percent of Note Indebtedness | 1% | ||||||||||||||||||||||||||||||
Debt Instrument, Restrictive Covenants | $100,000 | ||||||||||||||||||||||||||||||
Amendment No. 21 [Member] | Third Eye Capital [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Fee Amount | $ 100,000 | ||||||||||||||||||||||||||||||
Amendment No. 22 [Member] | Third Eye Capital [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Fee Amount | $ 100,000 | ||||||||||||||||||||||||||||||
Amendment No. 22 [Member] | Third Eye Capital [Member] | Subsequent Event [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Fee Amount | $ 500,000 | ||||||||||||||||||||||||||||||
Amendment No. 23 [Member] | Third Eye Capital [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Fee Amount | $ 100,000 | ||||||||||||||||||||||||||||||
Amendment No. 24 [Member] | Third Eye Capital [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Fee Amount | $ 300,000 | ||||||||||||||||||||||||||||||
Debt Instrument, Extension Fee, Percent of Note Indebtedness | 1% | ||||||||||||||||||||||||||||||
Amendment No. 25 [Member] | Third Eye Capital [Member] | Subsequent Event [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Fee Amount | 100,000 | ||||||||||||||||||||||||||||||
Reserve Liquidity Facility [Member] | Third Eye Capital [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 18,000,000 | ||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 70,000,000 | ||||||||||||||||||||||||||||||
Line of Credit Facility, Current Borrowing Capacity | $ 40,000,000 | ||||||||||||||||||||||||||||||
Debt Instrument, Non-refundable Standby Fee, Percent of Difference Between Principal Amount and the Commitment | 2% | ||||||||||||||||||||||||||||||
Non Refundable Fees | $ 500,000 | ||||||||||||||||||||||||||||||
Reserve Liquidity Facility [Member] | Third Eye Capital [Member] | Subsequent Event [Member] | |||||||||||||||||||||||||||||||
Line of Credit Facility, Current Borrowing Capacity | $ 50,000,000 | ||||||||||||||||||||||||||||||
Reserve Liquidity Facility Paid Monthly in Arrears [Member] | Third Eye Capital [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 30% | ||||||||||||||||||||||||||||||
Reserve Liquidity Facility Paid Monthly in Arrears [Member] | Third Eye Capital [Member] | Subsequent Event [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 30% | ||||||||||||||||||||||||||||||
Reserve Liquidity Facility if Event of Default Occurred and Continues [Member] | Third Eye Capital [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 40% | ||||||||||||||||||||||||||||||
Reserve Liquidity Facility if Event of Default Occurred and Continues [Member] | Third Eye Capital [Member] | Subsequent Event [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 40% | ||||||||||||||||||||||||||||||
Term Notes [Member] | Third Eye Capital [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 14% | 14% | |||||||||||||||||||||||||||||
Long-Term Debt, Total | $ 7,200,000 | $ 7,200,000 | |||||||||||||||||||||||||||||
Debt Issuance Costs, Net, Total | 27,000 | 27,000 | |||||||||||||||||||||||||||||
Acquisition Term Notes [Member] | Third Eye Capital [Member] | Aemetis Facility Keyes, Inc. [Member] | |||||||||||||||||||||||||||||||
Long-Term Debt, Total | 26,700,000 | 26,700,000 | |||||||||||||||||||||||||||||
Debt Issuance Costs, Net, Total | 144,000 | 144,000 | |||||||||||||||||||||||||||||
Debt Instrument, Redemption Fee | $ 7,500,000 | $ 7,500,000 | |||||||||||||||||||||||||||||
Acquisition Term Notes [Member] | Third Eye Capital [Member] | Prime Rate [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 10.75% | 18.25% | |||||||||||||||||||||||||||||
Term Notes, Revolving Credit Facility and Acquisition Term Notes [Member] | Third Eye Capital [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Fee, Percent of Carrying Value of Debt | 1% | 1% | |||||||||||||||||||||||||||||
Debt Instrument, Fee, Amount Allowed to be Paid in Cash, Percent | 50% | 50% | |||||||||||||||||||||||||||||
Debt Instrument, Fee, Amount Allowed to be Added to Debt Outstanding, Percent | 50% | 50% | |||||||||||||||||||||||||||||
Term Loan and Revolving Loan [Member] | GAFI [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Fee Amount | $ 500,000 | ||||||||||||||||||||||||||||||
Fuels Revolving Line [Member] | GAFI [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10% | 13.50% | 13.50% | ||||||||||||||||||||||||||||
Fuels Revolving Line [Member] | Prime Rate [Member] | GAFI [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 6% | ||||||||||||||||||||||||||||||
Carbon Revolving Line [Member] | GAFI [Member] | |||||||||||||||||||||||||||||||
Long-Term Debt, Total | $ 28,900,000 | $ 28,900,000 | |||||||||||||||||||||||||||||
Debt Issuance Costs, Net, Total | $ 1,500,000 | $ 1,500,000 | |||||||||||||||||||||||||||||
Carbon Revolving Line [Member] | ACCI [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8% | 11.50% | 11.50% | ||||||||||||||||||||||||||||
Long-Term Debt, Total | $ 25,100,000 | $ 25,100,000 | |||||||||||||||||||||||||||||
Debt Issuance Costs, Net, Total | 2,400,000 | 2,400,000 | |||||||||||||||||||||||||||||
Carbon Revolving Line [Member] | Prime Rate [Member] | ACCI [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 4% | ||||||||||||||||||||||||||||||
Cilion Shareholder Seller Notes Payable [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3% | ||||||||||||||||||||||||||||||
Debt, Long-Term and Short-Term, Combined Amount, Total | 6,821,000 | 6,619,000 | 6,821,000 | ||||||||||||||||||||||||||||
Cilion Shareholder Seller Notes Payable [Member] | Aemetis Facility Keyes, Inc. [Member] | |||||||||||||||||||||||||||||||
Long-Term Debt, Total | 6,800,000 | 6,800,000 | |||||||||||||||||||||||||||||
Subordinated Notes [Member] | AAFK [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Fee Amount | $ 2,500,000 | $ 900,000 | |||||||||||||||||||||||||||||
Debt Instrument Fee Rate | 10% | ||||||||||||||||||||||||||||||
Debt Extension Fee, Percentage | 10% | ||||||||||||||||||||||||||||||
Short-Term Debt, Total | 15,900,000 | 14,300,000 | 15,900,000 | ||||||||||||||||||||||||||||
Subordinated Notes 1 [Member] | |||||||||||||||||||||||||||||||
Debt, Long-Term and Short-Term, Combined Amount, Total | 15,931,000 | 14,304,000 | 15,931,000 | ||||||||||||||||||||||||||||
Subordinated Notes 1 [Member] | AAFK [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 90,000 | ||||||||||||||||||||||||||||||
Debt Instrument, Cash Extension Fee | $ 90,000 | ||||||||||||||||||||||||||||||
Subordinated Notes 1 [Member] | Subsequent Event [Member] | AAFK [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Cash Extension Fee | $ 90,000 | ||||||||||||||||||||||||||||||
Subordinated Notes 2 [Member] | AAFK [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 250,000 | ||||||||||||||||||||||||||||||
Debt Instrument, Cash Extension Fee | $ 250,000 | ||||||||||||||||||||||||||||||
Subordinated Notes 2 [Member] | Subsequent Event [Member] | AAFK [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Cash Extension Fee | $ 250,000 | ||||||||||||||||||||||||||||||
EB5 Phase I Notes [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 500,000 | ||||||||||||||||||||||||||||||
Long-Term Debt, Total | 37,200,000 | 37,200,000 | |||||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 4 years | ||||||||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 30 | ||||||||||||||||||||||||||||||
Debt Instrument, Amount Released From Escrow | 35,500,000 | 35,500,000 | |||||||||||||||||||||||||||||
Debt Instrument, Amount Remaining Funded to Escrow | 500,000 | 500,000 | |||||||||||||||||||||||||||||
Repayments of Debt | 0 | 3,000,000 | |||||||||||||||||||||||||||||
EB5 Phase I Notes [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Investment Raised Per Investor | $ 500,000 | ||||||||||||||||||||||||||||||
EB5 Phase I Funding [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 36,000,000 | ||||||||||||||||||||||||||||||
EB5 Phase I Funding [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 36,000,000 | ||||||||||||||||||||||||||||||
EB5 Phase II Notes [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3% | ||||||||||||||||||||||||||||||
Debt Instrument, Amount Remaining Funded to Escrow | 46,800,000 | 46,800,000 | |||||||||||||||||||||||||||||
Debt Instrument, Principal Amount Sold | 4,000,000 | 4,000,000 | |||||||||||||||||||||||||||||
Debt, Long-Term and Short-Term, Combined Amount, Total | 4,200,000 | 4,200,000 | |||||||||||||||||||||||||||||
EB5 Phase II Notes [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Minimum Investment Raised Per Investor | $ 500,000 | ||||||||||||||||||||||||||||||
EB5 Phase II Notes [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Minimum Investment Raised Per Investor | $ 900,000 | ||||||||||||||||||||||||||||||
Debt Instrument, Investment Raised Per Investor | 900,000 | ||||||||||||||||||||||||||||||
Aggregate Principal Amount | $ 50,800,000 | ||||||||||||||||||||||||||||||
Secunderabad Oils [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 18% | 14.75% | |||||||||||||||||||||||||||||
Long-Term Debt, Total | 0 | 0 | 0 | ||||||||||||||||||||||||||||
First Priority Lien on Assets in Return, Percentage of Monthly Net Operating Profit | 30% | ||||||||||||||||||||||||||||||
Debt Instrument, Fair Value Disclosure, Total | $ 2,300,000 | ||||||||||||||||||||||||||||||
Debt Agreement, Maximum Borrowing Capacity | $ 1,880,000 | ||||||||||||||||||||||||||||||
Leo Edibles & Fats Limited [Member] | |||||||||||||||||||||||||||||||
Debt Agreement, Maximum Borrowing Capacity | $ 1,270,000 | ||||||||||||||||||||||||||||||
Construction Loan Agreement [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.95% | ||||||||||||||||||||||||||||||
Long-Term Debt, Total | 20,200,000 | 20,200,000 | |||||||||||||||||||||||||||||
Debt Issuance Costs, Net, Total | 300,000 | 300,000 | |||||||||||||||||||||||||||||
Debt, Long-Term and Short-Term, Combined Amount, Total | 19,820,000 | $ 0 | 19,820,000 | ||||||||||||||||||||||||||||
Debt Agreement, Maximum Borrowing Capacity | $ 25,000,000 | ||||||||||||||||||||||||||||||
Usda Annual Renewal Fee | 0.25% | ||||||||||||||||||||||||||||||
Financing Agreement For Capital Expenditures [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | 5,700,000 | 5,700,000 | |||||||||||||||||||||||||||||
Short-Term Debt, Total | 1,000,000 | 1,000,000 | |||||||||||||||||||||||||||||
Other Long-Term Debt, Noncurrent | $ 4,800,000 | $ 4,800,000 |
Note 4 - Debt- Schedule of Debt
Note 4 - Debt- Schedule of Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Debt, Long-Term and Short-Term, Combined Amount, Total | $ 246,240 | $ 188,767 |
Less current portion of debt | 49,219 | 22,778 |
Total long term debt | 197,021 | 165,989 |
Third Eye Capital Term Notes [Member] | ||
Debt, Long-Term and Short-Term, Combined Amount, Total | 7,141 | 7,095 |
Third Eye Capital Revolving Credit Facility [Member] | ||
Debt, Long-Term and Short-Term, Combined Amount, Total | 60,602 | 75,980 |
Third Eye Capital Revenue Participation Term Notes [Member] | ||
Debt, Long-Term and Short-Term, Combined Amount, Total | 11,963 | 11,915 |
Third Eye Capital Acquisition Term Notes [Member] | ||
Debt, Long-Term and Short-Term, Combined Amount, Total | 26,578 | 26,461 |
Third Eye Capital Fuels Revolving Line [Member] | ||
Debt, Long-Term and Short-Term, Combined Amount, Total | 27,410 | 0 |
Third Eye Capital Carbon Revolving Line [Member] | ||
Debt, Long-Term and Short-Term, Combined Amount, Total | 22,710 | 0 |
Construction Loan Agreement [Member] | ||
Debt, Long-Term and Short-Term, Combined Amount, Total | 19,820 | 0 |
Cilion Shareholder Seller Notes Payable [Member] | ||
Debt, Long-Term and Short-Term, Combined Amount, Total | 6,821 | 6,619 |
Subordinated Notes 1 [Member] | ||
Debt, Long-Term and Short-Term, Combined Amount, Total | 15,931 | 14,304 |
EB-5 Promissory Notes [Member] | ||
Debt, Long-Term and Short-Term, Combined Amount, Total | 41,404 | 40,692 |
Term Loan On Equipment Purchase [Member] | ||
Debt, Long-Term and Short-Term, Combined Amount, Total | $ 5,860 | $ 5,701 |
Note 4 - Debt - Maturities of L
Note 4 - Debt - Maturities of Long-term Debt (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
2023 | $ 49,219 |
2024 | 140,001 |
2025 | 32,574 |
2026 | 27,712 |
2027 | 981 |
There after | 895 |
Total debt | 251,382 |
Debt issuance costs | (5,142) |
Total debt, net of debt issuance costs | $ 246,240 |
Note 5 - Commitments and Cont_3
Note 5 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | May 06, 2022 | Jun. 24, 2019 | |
Estimated Litigation Liability, Current | $ 0 | $ 6,200 | $ 6,200 | ||
Settlement Agreement Amount | $ 4,800 | ||||
Gain (Loss) Related to Litigation Settlement | $ 1,400 | $ 1,400 | $ 0 | ||
Minimum [Member] | |||||
Lease Term (Year) | 1 year | ||||
Maximum [Member] | |||||
Lease Term (Year) | 14 years |
Note 5 - Commitments and Cont_4
Note 5 - Commitments and Contingencies - Lease Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Operating lease expense | $ 673 | $ 812 |
Short term lease expense | 176 | 207 |
Variable lease expense | 91 | 107 |
Total operating lease cost | 940 | 1,126 |
Amortization of right-of-use assets | 179 | 230 |
Interest on lease liabilities | 310 | 81 |
Total finance lease cost | 489 | 311 |
Operating cash flows used in operating leases | 766 | 698 |
Operating cash flows used in finance leases | 310 | 81 |
Financing cash flows used in finance leases | $ 481 | $ 505 |
Note 5 - Commitments and Cont_5
Note 5 - Commitments and Contingencies - Non-cash Flow Information Related to Rou Asset and Lease Liabilities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Accretion of the lease liability | $ 340 | $ 378 |
Amortization of right-of-use assets | $ 333 | $ 434 |
Operating leases (in years) (Year) | 5 years 2 months 12 days | |
Finance leases (in years) (Year) | 14 years | |
Operating leases | 14.20% | |
Finance leases | 13.20% |
Note 5 - Commitments and Cont_6
Note 5 - Commitments and Contingencies - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Operating lease right-of-use assets | $ 2,449 | $ 2,462 |
Current portion of operating lease liability | 338 | 260 |
Operating lease liability | 2,189 | 2,318 |
Total operating lease liability | 2,527 | 2,578 |
Total finance lease liability | 2,982 | |
Property, Plant and Equipment [Member] | ||
Property and equipment, at cost | 3,045 | 2,317 |
Accumulated depreciation | (112) | (376) |
Property and equipment, net | 2,933 | 1,941 |
Other Current Liabilities [Member] | ||
Other current liability | 71 | 550 |
Other Noncurrent Liabilities [Member] | ||
Other long term liabilities | 2,911 | 720 |
Other Liabilities [Member] | ||
Total finance lease liability | $ 2,982 | $ 1,270 |
Note 5 - Commitments and Cont_7
Note 5 - Commitments and Contingencies - Maturities of Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
2023, Operating leases | $ 667 | |
2023, Finance leases | 429 | |
2024, Operating leases | 682 | |
2024, Finance leases | 179 | |
2025, Operating leases | 681 | |
2025, Finance leases | 168 | |
2026, Operating leases | 626 | |
2026, Finance leases | 145 | |
2027, Operating leases | 645 | |
2027, Finance leases | 145 | |
There after, Operating leases | 274 | |
There after, Finance leases | 11,000 | |
Total lease payments, Operating leases | 3,575 | |
Total lease payments, Finance leases | 12,066 | |
Less imputed interest, Operating leases | (1,048) | |
Less imputed interest, Finance leases | (9,084) | |
Total operating lease liability | 2,527 | $ 2,578 |
Total finance lease liability | $ 2,982 |
Note 5 - Commitments and Cont_8
Note 5 - Commitments and Contingencies - Lease Income (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Lease income | $ 1,255 | $ 0 |
Note 5 - Commitments and Cont_9
Note 5 - Commitments and Contingencies - Future Minimum Lease Payments (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
2023 | $ 841 |
2024 | 572 |
2025 | 501 |
2026 | 474 |
2027 | 474 |
There after | 1,066 |
Total future lease commitments | $ 3,928 |
Note 6 - Aemetis Biogas LLC, _2
Note 6 - Aemetis Biogas LLC, Series A Preferred Financing and Variable Interest Entity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Jan. 01, 2023 | Aug. 08, 2022 | Dec. 20, 2018 | Mar. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Series A Preferred Unit, Current | $ 0 | $ 3,200 | ||||
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Share Value, Amount, Noncurrent | 116,000 | 45,000 | ||||
Total Assets of ABGL Company | 79,800 | |||||
Series A Preferred Units Value | $ 116,000 | |||||
Carbon Revolving Line [Member] | ||||||
Extinguishment of Debt, Gain (Loss), Net of Tax | $ (49,400) | |||||
Preferred Units Series A [Member] | ||||||
Common Units Authorized (in shares) | 11,000,000 | |||||
Common Units Issued (in shares) | 6,000,000 | |||||
Preferred Unit Dividend Rate Per Dollar Amount (in dollars per share) | $ 0.50 | |||||
Conversion of Stock, Shares Issued (in shares) | 1,200,000 | 5,000,000 | ||||
Maximum Number of Shares (in shares) | 5,000,000 | |||||
Redeemable Noncontrolling Interest, Equity, Preferred, Redemption Value per Unit (in dollars per share) | $ 15 | |||||
Free Cash Flow Generated by ABGL | 75% | 100% | ||||
Redeemable Noncontrolling Interest Equity Redemption Value, Total | $ 90,000 | |||||
Fees and Commission Transfer Agent | 900 | |||||
Debt Instrument, Collateral Amount | $ 30,000,000 | |||||
Preferred Units Issued Value | $ 3,100 | |||||
Preferred Units, Issued (in shares) | 626,000 | |||||
Preferred Units Redeemed, Value | $ 116,000 | |||||
Preferred Units, Initial Fair Value | 105,800 | |||||
Preferred Units Series A [Member] | First Tranche [Member] | ||||||
Preferred Units Issued Value | $ 16,000 | |||||
Preferred Units, Issued (in shares) | 3,200,000 | |||||
Preferred Units Series A [Member] | Second Tranche [Member | ||||||
Preferred Units Issued Value | $ 14,000 | |||||
Preferred Units, Issued (in shares) | 2,800,000 | |||||
Stock Redeemed or Called During Period, Shares (in shares) | 20,000 | |||||
Preferred Units Redeemed, Value | $ 300 | $ 300 | ||||
Preferred Units Redeemed (in shares) | 20,000 | |||||
Series A Preferred Stocks [Member] | ||||||
Common Units Issued (in shares) | 6,000,000 | |||||
Common Units Issuance Value (in dollars per share) | $ 5 | |||||
Proceeds from Issuance of Common Units | $ 30,000,000 | |||||
Preferred Units Reserved for Future Issuance (in shares) | 5,000,000 | |||||
Preferred Units Series A Redeemable By December 31, 2022 [Member] | ABGL [Member] | ||||||
Preferred Units Issued Value | 116,000 | |||||
Preferred Units Series A Redeemable By December 31, 2022 [Member] | ABGL [Member] | Subsequent Event [Member] | ||||||
Preferred Units Issued Value | $ 125,000 | |||||
Preferred Units Series A Redeemable By September 30, 2022 [Member] | ABGL [Member] | ||||||
Preferred Units Issued Value | $ 106,000 |
Note 7 - Stockholders' Equity_2
Note 7 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2018 | Dec. 31, 2021 | |
Common Stock, Shares Authorized (in shares) | 80,000,000 | 80,000,000 | |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 | |
Convertible Series B Preferred Stock Subject to Mandatory Redemption [Member] | Prime Rate [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 2% | ||
Convertible Series B Preferred Stock Subject to Mandatory Redemption [Member] | |||
Reclassified Stock, Shares (in shares) | 583,000 | ||
Reclassified Stock, Value | $ 1,800 | ||
Debt Instrument, Interest Rate, Effective Percentage | 9.50% | ||
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Share Value, Amount, Total | $ 4,100 | $ 3,800 | |
Series B Preferred Stock [Member] | |||
Preferred Units, Authorized (in shares) | 65,000,000 | ||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | ||
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | 10 | ||
Preferred Stock, Dividend Rate, Percentage | 5% | ||
Dividends, Preferred Stock, Total | $ 0 | ||
Preferred Stock, Liquidation Preference Per Share (in dollars per share) | $ 3 |
Note 7 - Stockholders' Equity -
Note 7 - Stockholders' Equity - Schedule of Stock by Class (Details) - shares shares in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Series B Preferred Stock, Authorized (in shares) | 65,000 | |
Series B Preferred Stock, Shares Issued (in shares) | 1,270 | 1,275 |
Series B Preferred Stock [Member] | ||
Series B Preferred Stock, Authorized (in shares) | 7,235 | |
Series B Preferred Stock, Shares Issued (in shares) | 1,270 | 1,275 |
Undesignated [Member] | ||
Series B Preferred Stock, Authorized (in shares) | 57,765 | |
Series B Preferred Stock, Shares Issued (in shares) | 0 | 0 |
Note 8 - Outstanding Warrants_2
Note 8 - Outstanding Warrants (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Warrants and Rights Outstanding, Term (Year) | 7 years 5 months 23 days | 3 years 11 months 12 days | 4 years 11 months 12 days |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 15.92 | $ 2.59 | $ 2.59 |
Class of Warrant or Right, Outstanding (in shares) | 355,000 | 55,000 | 95,000 |
Warrants Issued with Extension of Notes [Member] | |||
Warrants and Rights Outstanding | $ 227 | $ 227 | |
Warrants and Rights Outstanding, Term (Year) | 2 years | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.01 | ||
Warrants Issued to Obtain Lines of Credit [Member] | |||
Class of Warrant or Right, Outstanding (in shares) | 300,000 | ||
Five Year Warrants in Connection With New Credit Facility [Member] | |||
Warrants and Rights Outstanding, Term (Year) | 5 years | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 10.20 | ||
Class of Warrant or Right, Outstanding (in shares) | 50,000 | ||
Ten Year Warrants in Connection With New Credit Facility [Member] | |||
Warrants and Rights Outstanding, Term (Year) | 10 years | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 20 | ||
Class of Warrant or Right, Outstanding (in shares) | 250 | ||
Aemetis Carbon Capture, Inc. Carbon Sequestration Project [Member] | |||
Class of Warrant or Right, Granted (in shares) | 65,000 |
Note 8 - Outstanding Warrants -
Note 8 - Outstanding Warrants - Fair Value Assumptions (Details) | Dec. 31, 2022 $ / shares yr | Dec. 31, 2021 $ / shares yr |
Measurement Input, Expected Dividend Rate [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 0 | 0 |
Measurement Input, Risk Free Interest Rate [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 0.0175 | 0.0021 |
Measurement Input, Price Volatility [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 1.5141 | 1.3616 |
Measurement Input, Expected Term [Member] | ||
Warrants and Rights Outstanding, Measurement Input | yr | 3 | 2 |
Measurement Input, Exercise Price [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 10.47 | 0.01 |
Measurement Input, Share Price [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 11.29 | 9.92 |
Fair Value per Warrant on Grant Date [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 9.68 | 9.91 |
Note 8 - Outstanding Warrants_3
Note 8 - Outstanding Warrants - Schedule of Warrants or Rights (Details) - $ / shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Outstanding, warrants (in shares) | 55 | 95 | |
Outstanding, Weighted - Average Exercise Price (in dollars per share) | $ 15.92 | $ 2.59 | $ 2.59 |
Outstanding, Average Remaining Term in Years (Year) | 7 years 5 months 23 days | 3 years 11 months 12 days | 4 years 11 months 12 days |
Granted, warrants (in shares) | 527 | 292 | |
Granted, Weighted - Average Exercise Price (in dollars per share) | $ 10.47 | $ 0.01 | |
Exercised, warrants (in shares) | (227) | (332) | |
Exercised, Weighted - Average Exercise Price (in dollars per share) | $ 0.01 | $ 0.32 | |
Outstanding, warrants (in shares) | 355 | 55 |
Note 9 - Stock-Based Compensa_3
Note 9 - Stock-Based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||||
Apr. 29, 2019 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2016 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 4,694,000 | 3,763,000 | |||
Share Price (in dollars per share) | $ 3.96 | $ 12.30 | |||
Stock or Unit Option Plan Expense | $ 6.4 | $ 3.9 | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 10.7 | ||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 1 month 6 days | ||||
The 2019 Stock Plan [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | 10 years | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 200,000 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Net of Forfeitures, Total (in shares) | 1.3 | 1,140,000 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 4,694,000 | 3,763,000 | 5,327,000 | ||
Share Price (in dollars per share) | $ 10.97 | $ 5.60 | |||
The 2019 Stock Plan [Member] | Maximum [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years | ||||
The 2019 Stock Plan [Member] | Restricted Stock [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 89,000 | 154,000 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share) | $ 10.92 | ||||
Amended and Restated 2007 Stock Plan [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 177,246 | ||||
Inducement Equity Plan Options [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 100,000 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 0 |
Note 9 - Stock-Based Compensa_4
Note 9 - Stock-Based Compensation - Schedule of Share-Based Payment Award (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Balance, outstanding (in shares) | 3,763,000 | |
Balance, Weighted-Average Exercise Price (in dollars per share) | $ 2.29 | |
Balance, outstanding (in shares) | 4,694,000 | 3,763,000 |
Balance, Weighted-Average Exercise Price (in dollars per share) | $ 4.63 | $ 2.29 |
The 2019 Stock Plan [Member] | ||
Balance, Shares Available for Grant (in shares) | 142,000 | 380,000 |
Balance, outstanding (in shares) | 3,763,000 | 5,327,000 |
Balance, Weighted-Average Exercise Price (in dollars per share) | $ 2.29 | $ 1.14 |
Authorized, shares (in shares) | 1,338,000 | 816,000 |
Options Granted, shares (in shares) | (1,307,000) | (1,141,000) |
Options Granted, shares (in shares) | 1,307,000 | 1,141,000 |
Options Granted, Weighted-Average Exercise Price (in dollars per share) | $ 10.97 | $ 5.60 |
Exercised, outstanding (in shares) | (295,000) | (2,498,000) |
Exercised, Weighted-Average Exercise Price (in dollars per share) | $ 0.93 | $ 1.39 |
Forfeited/expired, shares available (in shares) | 81,000 | 241,000 |
Forfeited/expired, outstanding (in shares) | (81,000) | (207,000) |
Forfeited/expired, Weighted-Average Exercise Price (in dollars per share) | $ 11.63 | $ 1.84 |
Balance, Shares Available for Grant (in shares) | 165,000 | 142,000 |
Balance, outstanding (in shares) | 4,694,000 | 3,763,000 |
Balance, Weighted-Average Exercise Price (in dollars per share) | $ 4.63 | $ 2.29 |
The 2019 Stock Plan [Member] | Restricted Stock [Member] | ||
RSAs Granted, shares (in shares) | (89,000) | (154,000) |
Note 9 - Stock-Based Compensa_5
Note 9 - Stock-Based Compensation - Share-Based Compensation Arrangement by Share-Based Payment Award, Options Vested and Expected to Vest, Outstanding, and Exercisable (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Vested and Exercisable, number of shares (in shares) | 3,170 | 2,346 |
Vested and Exercisable, weighted average exercise price (in dollars per share) | $ 2.46 | $ 1.32 |
Vested and Exercisable, remaining contractual term (Year) | 6 years 11 months 23 days | 7 years 8 months 4 days |
Vested and Exercisable, aggregate intrinsic value | $ 7,419 | $ 25,771 |
Unvested, number of share (in shares) | 1,524 | 1,417 |
Unvested, weighted average exercise price (in dollars per share) | $ 9.13 | $ 3.89 |
Unvested, remaining contractual term (Year) | 8 years 9 months 21 days | 8 years 7 months 20 days |
Unvested, aggregate intrinsic value | $ 647 | $ 12,961 |
Number of shares (in shares) | 4,694 | 3,763 |
Weighted average exercise price (in dollars per share) | $ 4.63 | $ 2.29 |
Remaining contractual term (Year) | 7 years 6 months 29 days | 8 years 14 days |
Aggregate intrinsic value | $ 8,066 | $ 38,732 |
Note 9 - Stock-Based Compensa_6
Note 9 - Stock-Based Compensation - Fair Value Assumptions (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Market value per share on grant date (in dollars per share) | $ 3.96 | $ 12.30 |
Fair value per share on grant date (in dollars per share) | $ 9.71 | $ 4.68 |
The 2019 Stock Plan [Member] | ||
Dividend-yield | 0% | 0% |
Risk-free interest rate | 2.03% | 0.83% |
Expected volatility | 117.21% | 100.47% |
Expected life (years) (Year) | 7 years | 6 years 7 months 2 days |
Market value per share on grant date (in dollars per share) | $ 10.97 | $ 5.60 |
Note 10 - Agreements (Details T
Note 10 - Agreements (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Jul. 01, 2022 | |
Prepaid Expense, Current, Total | $ 4,248 | $ 5,598 | |
Revenue from Contract with Customer, Including Assessed Tax | 256,513 | 211,949 | |
Accounts Receivable, after Allowance for Credit Loss, Current, Total | 1,264 | 1,574 | |
Marketing Expense | 2,900 | 2,900 | |
Shipping and Handling Costs | 3,300 | 3,300 | |
Results of Operations, Transportation Costs | 5,300 | 3,100 | |
Forward Sales Commitments [Member] | |||
Other Commitment, Total | 0 | ||
Operating Agreement with Gemini Edibles and Fats India Private Limited [Member] | |||
Debt Agreement, Maximum Borrowing Capacity | $ 12,700 | ||
Debt Instrument, Interest Rate, Stated Percentage | 12% | ||
Accounts Payable, Total | 0 | 0 | |
J.D. Heiskell [Member] | |||
Prepaid Expense, Current, Total | 2,400 | 4,000 | |
Accounts Receivable, after Allowance for Credit Loss, Current, Total | 0 | 308 | |
Kinergy [Member] | |||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 110,700 | |
Accounts Receivable, after Allowance for Credit Loss, Current, Total | 0 | 0 | |
Murex [Member] | |||
Revenue from Contract with Customer, Including Assessed Tax | 165,900 | 51,700 | |
Accounts Receivable, after Allowance for Credit Loss, Current, Total | $ 600 | $ 1,000 |
Note 10 - Agreements - Schedule
Note 10 - Agreements - Schedule of Working Capital Agreement Activity (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Revenues | $ 256,513 | $ 211,949 |
Accounts receivable, net of allowance for doubtful accounts | 1,264 | 1,574 |
Accounts payable | 26,168 | 16,415 |
J.D. Heiskell [Member] | ||
Accounts receivable, net of allowance for doubtful accounts | 0 | 308 |
Accounts payable | 27 | 862 |
Wet Distiller's Grains Sales [Member] | J.D. Heiskell [Member] | ||
Revenues | 50,930 | 41,476 |
Corn Oil Sales [Member] | J.D. Heiskell [Member] | ||
Revenues | 10,168 | 6,184 |
Corn Purchases [Member] | J.D. Heiskell [Member] | ||
Corn purchases | $ 191,401 | $ 159,309 |
Note 11 - Segment Information_2
Note 11 - Segment Information (Details Textual) gal in Millions | 12 Months Ended | |
Dec. 31, 2022 gal | Dec. 31, 2021 | |
Number of Reportable Segments | 3 | |
California Ethanol [Member] | ||
GallonPerYear (Gallon) | 65 | |
California Ethanol [Member] | Customer Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Ethanol Sales [Member] | ||
Number of Major Customers | 1 | 2 |
Concentration Risk, Percentage | 73% | |
California Ethanol [Member] | Customer Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Ethanol Sales [Member] | Customer One [Member] | ||
Concentration Risk, Percentage | 52% | |
California Ethanol [Member] | Customer Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Ethanol Sales [Member] | Customer Two [Member] | ||
Concentration Risk, Percentage | 24% | |
California Ethanol [Member] | Customer Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Wet Distillers Grain and Corn Oil Sales [Member] | ||
Number of Major Customers | 1 | 1 |
Concentration Risk, Percentage | 26% | |
California Ethanol [Member] | Customer Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Wet Distillers Grain and Corn Oil Sales [Member] | Customer One [Member] | ||
Concentration Risk, Percentage | 23% | |
India Biodiesel [Member] | ||
GallonPerYear (Gallon) | 50 | |
India Biodiesel [Member] | Customer Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Biodiesel Sales [Member] | ||
Number of Major Customers | 3 | 1 |
India Biodiesel [Member] | Customer Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Biodiesel Sales [Member] | Customer One [Member] | ||
Concentration Risk, Percentage | 48% | 66% |
India Biodiesel [Member] | Customer Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Biodiesel Sales [Member] | Customer Two [Member] | ||
Concentration Risk, Percentage | 29% | |
India Biodiesel [Member] | Customer Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Biodiesel Sales [Member] | Customer Three [Member] | ||
Concentration Risk, Percentage | 12% | |
India Biodiesel [Member] | Customer Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Refined Glycerin Sales [Member] | ||
Number of Major Customers | 1 | |
India Biodiesel [Member] | Customer Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Refined Glycerin Sales [Member] | Customer One [Member] | ||
Concentration Risk, Percentage | 16% |
Note 11 - Segment Information -
Note 11 - Segment Information - Schedule of Segment Reporting Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Revenues | $ 256,513 | $ 211,949 |
Gross profit (loss) | (5,535) | 7,939 |
Interest expense, including amortization of debt fees | 28,770 | 24,057 |
Accretion and other expenses of Series A preferred units | 9,888 | 7,718 |
Loss (gain) on debt extinguishment | 49,386 | (1,134) |
Capital expenditures | 39,157 | 26,652 |
Depreciation | 5,535 | 5,448 |
Total Assets | 207,114 | 160,831 |
Intersegment Eliminations [Member] | ||
Revenues | 1,002 | 1,445 |
California Ethanol [Member] | ||
Revenues | 228,194 | 211,251 |
Gross profit (loss) | (13,017) | 9,565 |
Interest expense, including amortization of debt fees | 20,637 | 21,625 |
Accretion and other expenses of Series A preferred units | 0 | 0 |
Loss (gain) on debt extinguishment | 0 | (713) |
Capital expenditures | 8,399 | 2,763 |
Depreciation | 4,148 | 4,132 |
Total Assets | 66,794 | 75,909 |
California Ethanol [Member] | Intersegment Eliminations [Member] | ||
Revenues | 0 | 0 |
Dairy Renewable Natural Gas [Member] | ||
Revenues | 208 | 0 |
Gross profit (loss) | (778) | (488) |
Interest expense, including amortization of debt fees | 742 | 13 |
Accretion and other expenses of Series A preferred units | 9,888 | 7,718 |
Loss (gain) on debt extinguishment | 49,386 | 0 |
Capital expenditures | 22,884 | 17,702 |
Depreciation | 615 | 577 |
Total Assets | 77,714 | 40,027 |
Dairy Renewable Natural Gas [Member] | Intersegment Eliminations [Member] | ||
Revenues | 1,002 | 1,445 |
India Biodiesel [Member] | ||
Revenues | 28,111 | 696 |
Gross profit (loss) | 8,273 | (23) |
Interest expense, including amortization of debt fees | 119 | 0 |
Accretion and other expenses of Series A preferred units | 0 | 0 |
Loss (gain) on debt extinguishment | 0 | 0 |
Capital expenditures | 129 | 142 |
Depreciation | 650 | 686 |
Total Assets | 16,120 | 10,779 |
India Biodiesel [Member] | Intersegment Eliminations [Member] | ||
Revenues | 0 | 0 |
Other Segments [Member] | ||
Revenues | 0 | 2 |
Gross profit (loss) | (13) | (1,115) |
Interest expense, including amortization of debt fees | 7,272 | 2,419 |
Accretion and other expenses of Series A preferred units | 0 | 0 |
Loss (gain) on debt extinguishment | 0 | (421) |
Capital expenditures | 7,745 | 6,045 |
Depreciation | 122 | 53 |
Total Assets | 46,486 | 34,116 |
Other Segments [Member] | Intersegment Eliminations [Member] | ||
Revenues | $ 0 | $ 0 |
Note 11 - Segment Information_3
Note 11 - Segment Information - Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Revenues | $ 256,513 | $ 211,949 |
Revenues | (256,513) | (211,949) |
Operating Segments [Member] | ||
Revenues | 257,515 | 213,394 |
Revenues | (257,515) | (213,394) |
Intersegment Eliminations [Member] | ||
Revenues | 1,002 | 1,445 |
Revenues | $ (1,002) | $ (1,445) |
Note 12 - Related Party Trans_2
Note 12 - Related Party Transactions (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||||
Jan. 12, 2022 | Nov. 04, 2021 | May 07, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | |
Prepaid Expense, Current, Total | $ 4,248 | $ 5,598 | |||
Mr. McAfee [Member] | |||||
Accrued Liabilities, Current, Total | 0 | 300 | |||
Various Board Members [Member] | |||||
Share-Based Payment Arrangement, Expense | 400 | 400 | |||
Restricted Stock, Value, Shares Issued Net of Tax Withholdings | 900 | ||||
Employment Agreements and Expense Reimbursements [Member] | Mr. McAfee [Member] | |||||
Related Party Transaction, Amounts of Transaction | 400 | 400 | |||
Expensed Employee Reimbursements [Member] | Mr. McAfee [Member] | |||||
Related Party Transaction, Amounts of Transaction | 300 | 15 | |||
Prepayments [Member] | Mr. McAfee [Member] | |||||
Related Party Transaction, Amounts of Transaction | 200 | ||||
Prepaid Expense, Current, Total | 100 | ||||
Stock Option Expenses [Member] | Executive Officer [Member] | |||||
Related Party Transaction, Due from (to) Related Party, Total | 106 | ||||
Guarantee Fee [Member] | Mr. McAfee [Member] | |||||
Related Party Transaction, Amounts of Transaction | $ 400 | $ 600 | |||
Guarantee Fee Percentage On Outstanding Balance | 0.10% | ||||
One-time Guarantee Fee [Member] | Mr. McAfee [Member] | |||||
Related Party Transaction, Amounts of Transaction | $ 2,000 | ||||
Board Compensation Fees [Member] | Various Board Members [Member] | |||||
Related Party Transaction, Amounts of Transaction | $ 300 | $ 200 |
Note 13 - Income Tax (Details T
Note 13 - Income Tax (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Deferred Tax Liabilities, Net, Total | $ 810 | $ 0 |
Undistributed Earnings of Foreign Subsidiaries | 2,500 | $ 8,900 |
Alcohol and Cellulosic Biofuel Credit Carryforward [Member] | ||
Tax Credit Carryforward, Amount | 1,500 | |
Carbon Oxide Sequestration Credit Carryforward [Member] | ||
Tax Credit Carryforward, Amount | 5,800 | |
Domestic Tax Authority [Member] | ||
Operating Loss Carryforwards | $ 231,000 | |
Domestic Tax Authority [Member] | Minimum [Member] | ||
Operating Loss Carryforwards, Expiration Date | Dec. 31, 2027 | |
Domestic Tax Authority [Member] | Maximum [Member] | ||
Operating Loss Carryforwards, Expiration Date | Dec. 31, 2038 | |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards | $ 300,000 | |
State and Local Jurisdiction [Member] | Minimum [Member] | ||
Operating Loss Carryforwards, Expiration Date | Dec. 31, 2027 | |
State and Local Jurisdiction [Member] | Maximum [Member] | ||
Operating Loss Carryforwards, Expiration Date | Dec. 31, 2042 |
Note 13 - Income Tax - Schedule
Note 13 - Income Tax - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Federal tax expense, current | $ 0 | $ 0 |
State and Local tax expense, current | 13 | 11 |
Foreign tax expense, current | 230 | 0 |
Total tax expense, current | 243 | 11 |
Federal tax expense, deferred | 0 | 0 |
State and Local tax expense, deferred | 0 | 0 |
Foreign tax expense, deferred | 810 | (139) |
Income tax expense/(benefit) | $ 1,053 | $ (128) |
Note 13 - Income Tax - Schedu_2
Note 13 - Income Tax - Schedule of Income Before Income Tax, Domestic and Foreign (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
United States | $ (112,959) | $ (45,723) |
Foreign | 6,254 | (1,552) |
Loss before income taxes | $ (106,705) | $ (47,275) |
Note 13 - Income Tax - Schedu_3
Note 13 - Income Tax - Schedule of Effective Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Income tax benefit at the federal statutory rate | $ (22,408) | $ (9,928) |
State tax benefit | (496) | (2,875) |
Foreign tax differential | 168 | (96) |
Stock-based compensation | 295 | 252 |
Interest Expense | 58 | 1,842 |
GILTI Inclusion | 1,126 | 0 |
Prior year true-ups | 55 | 140 |
Non-includible US Entities | 13,499 | 0 |
Other | 46 | 497 |
Credits | (2,373) | (2,074) |
Valuation Allowance | 11,083 | 12,114 |
Income tax expense/(benefit) | $ 1,053 | $ (128) |
Effective Tax Rate | (0.99%) | 0.27% |
Note 13 - Income Tax - Schedu_4
Note 13 - Income Tax - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Organizational Costs, Start-up and Intangible Assets | $ 2,309 | $ 5,068 |
Stock Based Compensation | 1,842 | 1,174 |
NOLs, Unabsorbed Depreciation and R&D Credits C/F's | 68,201 | 61,624 |
Interest expense carryover | 22,374 | 17,436 |
Accrued Expenses | 2,001 | 3,312 |
Operating Lease Liability | 1,512 | 1,082 |
Other, net | 113 | 737 |
Total Deferred Tax Assets | 105,679 | 95,392 |
Valuation Allowance | (95,214) | (83,260) |
Net Deferred Tax Assets | 10,465 | 12,133 |
Right of Use Asset | (1,477) | (1,238) |
Property, Plant & Equipment | (9,788) | (10,882) |
Other, net | (10) | (13) |
Total Deferred Tax Liabilities | (11,275) | (12,133) |
Net Deferred Tax Liabilities | (810) | 0 |
Ethanol Credits [Member] | ||
Deffered tax assets, tax credit carryforwards | 1,500 | 1,500 |
Carbon Oxide Sequestration Credit Carryforward [Member] | ||
Deffered tax assets, tax credit carryforwards | $ 5,827 | $ 3,460 |
Note 13 - Income Tax - Open Tax
Note 13 - Income Tax - Open Tax Years by Major Tax Jurisdiction (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | |
Open tax year | 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 |
State and Local Jurisdiction [Member] | |
Open tax year | 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 |
Foreign Tax Authority [Member] | Ministry of Finance, India [Member] | |
Open tax year | 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 |
Foreign Tax Authority [Member] | Mauritius Revenue Authority [Member] | |
Open tax year | 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 |
Note 14 - Parent Company Fina_3
Note 14 - Parent Company Financial Statements (Unaudited) - Condensed Balance Sheets (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Cash and cash equivalents | $ 4,313 | $ 7,751 |
Receivables due from subsidiaries | 1,264 | 1,574 |
Prepaid expenses | 4,248 | 5,598 |
Other current assets | 3,653 | 644 |
Total current assets | 18,136 | 20,693 |
Property, plant and equipment, net | 180,441 | 135,101 |
Total Assets | 207,114 | 160,831 |
Accounts payable | 26,168 | 16,415 |
Other current liabilities | 7,268 | 5,872 |
Total current liabilities | 88,281 | 65,330 |
Operating lease liability | 2,527 | 2,578 |
Total long term liabilities | 320,687 | 215,739 |
Common stock | 36 | 33 |
Additional paid-in capital | 232,546 | 205,305 |
Accumulated deficit | (428,985) | (321,227) |
Accumulated other comprehensive loss | (5,452) | (4,350) |
Total stockholders' deficit | (201,854) | (120,238) |
Total liabilities & stockholders' deficit | 207,114 | 160,831 |
Convertible Series B Preferred Stock Subject to Mandatory Redemption [Member] | ||
Mandatorily redeemable Series B convertible preferred | 4,082 | 3,806 |
Parent Company [Member] | ||
Cash and cash equivalents | 286 | 0 |
Receivables due from subsidiaries | 98,780 | 93,571 |
Prepaid expenses | 611 | 290 |
Other current assets | 7 | 116 |
Total current assets | 99,684 | 93,977 |
Investment in subsidiary, net of advances | 8,106 | 3,119 |
Property, plant and equipment, net | 135 | 36 |
Other assets | 2,377 | 2,475 |
Total Assets | 110,302 | 99,607 |
Accounts payable | 2,934 | 3,024 |
Other current liabilities | 4,269 | 9,521 |
Total current liabilities | 11,285 | 16,351 |
Operating lease liability | 2,047 | 2,318 |
Subsidiary obligation in excess of investment | 298,824 | 201,176 |
Total long term liabilities | 300,871 | 203,494 |
Common stock | 36 | 33 |
Additional paid-in capital | 232,546 | 205,305 |
Accumulated deficit | (428,985) | (321,227) |
Accumulated other comprehensive loss | (5,452) | (4,350) |
Total stockholders' deficit | (201,854) | (120,238) |
Total liabilities & stockholders' deficit | 110,302 | 99,607 |
Parent Company [Member] | Series B Preferred Stock [Member] | ||
Series B Preferred convertible stock | 1 | 1 |
Parent Company [Member] | Convertible Series B Preferred Stock Subject to Mandatory Redemption [Member] | ||
Mandatorily redeemable Series B convertible preferred | 4,082 | 3,806 |
Parent Company [Member] | Aemetis Property Keyes, Inc. [Member] | ||
Investment in subsidiary, net of advances | 1,274 | 496 |
Parent Company [Member] | Aemetis International, Inc. [Member] | ||
Investment in subsidiary, net of advances | 6,659 | 2,546 |
Parent Company [Member] | Aemetis Advanced Products Riverbank, Inc. [Member] | ||
Investment in subsidiary, net of advances | 173 | 23 |
Parent Company [Member] | Aemetis Carbon Capture, Inc. [Member] | ||
Investment in subsidiary, net of advances | 0 | 54 |
Subsidiary obligation in excess of investment | 2,323 | 0 |
Parent Company [Member] | AE Advanced Fuels, Inc. [Member] | ||
Subsidiary obligation in excess of investment | 177,856 | 150,424 |
Parent Company [Member] | Aemetis Americas, Inc. [Member] | ||
Subsidiary obligation in excess of investment | 205 | 205 |
Parent Company [Member] | Aemetis Biofuels, Inc. [Member] | ||
Subsidiary obligation in excess of investment | 2,738 | 2,738 |
Parent Company [Member] | Aemetis Technologies, Inc. [Member] | ||
Subsidiary obligation in excess of investment | 4,716 | 4,536 |
Parent Company [Member] | AE Advanced Products Keyes, Inc. [Member] | ||
Subsidiary obligation in excess of investment | 270 | 383 |
Parent Company [Member] | Aemetis Health Products, Inc. [Member] | ||
Subsidiary obligation in excess of investment | 2,076 | 2,137 |
Parent Company [Member] | Goodland Advanced Fuels, Inc. [Member] | ||
Subsidiary obligation in excess of investment | 16,869 | 13,587 |
Parent Company [Member] | Aemetis Biogas LLC [Member] | ||
Subsidiary obligation in excess of investment | 91,292 | 27,166 |
Parent Company [Member] | Aemetis Properties Riverbank, Inc. [Member] | ||
Subsidiary obligation in excess of investment | $ 479 | $ 0 |
Note 14 - Parent Company Fina_4
Note 14 - Parent Company Financial Statements (Unaudited) - Condensed Statements of Operations and Comprehensive Loss (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Selling, general and administrative expenses | $ 28,686 | $ 23,676 |
Operating loss | (34,401) | (15,825) |
Interest expense | 28,770 | 24,057 |
Debt related fees and amortization expense | 7,363 | 3,921 |
Other (income) expense | (14,340) | 809 |
Income tax expense (benefit) | 1,053 | (128) |
Net loss | (107,758) | (47,147) |
Comprehensive loss | (108,860) | (47,383) |
Parent Company [Member] | ||
Equity in subsidiary losses | (91,561) | (34,400) |
Selling, general and administrative expenses | 15,203 | 11,806 |
Operating loss | (106,764) | (46,206) |
Interest expense | 806 | 1,031 |
Debt related fees and amortization expense | 1,581 | 0 |
Other (income) expense | (1,400) | (97) |
Loss before income taxes | (107,751) | (47,140) |
Income tax expense (benefit) | 7 | 7 |
Net loss | (107,758) | (47,147) |
Foreign currency translation adjustment | (1,102) | (27) |
Comprehensive loss | $ (108,860) | $ (47,174) |
Note 14 - Parent Company Fina_5
Note 14 - Parent Company Financial Statements (Unaudited) - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Net loss | $ (107,758) | $ (47,147) | |
Share-based compensation | 6,410 | 3,928 | |
Depreciation | 5,535 | 5,448 | |
Debt related fees and amortization expense | 7,363 | 3,921 | |
Gain on debt extinguishment | (49,386) | 1,134 | |
Gain on litigation | $ (1,400) | (1,400) | 0 |
Prepaid expenses | (1,777) | 4,849 | |
Accounts payable | 2,183 | (5,198) | |
Accrued interest expense | 15,501 | 14,456 | |
Other liabilities | (10,125) | 729 | |
Net cash used in operating activities | (22,866) | (20,647) | |
Capital expenditures | (39,157) | (26,652) | |
Net cash provided by (used in) investing activities | (31,306) | (22,894) | |
Proceeds from the exercise of stock options | 206 | 1,304 | |
Proceeds from issuance of common stock in equity offering | 11,987 | 103,591 | |
Net cash provided by financing activities | 53,633 | 50,704 | |
Net increase in cash, cash equivalents, and restricted cash | (752) | 7,159 | |
Cash, cash equivalents, and restricted cash at beginning of period | 7,751 | 592 | |
Cash, cash equivalents, and restricted cash at end of period | 6,999 | 7,751 | |
Income taxes paid | 10 | 7 | |
Fair value of warrants issued to subordinated debt holders | 1,939 | 1,546 | |
Fair value of stock issued to a related party for guarantee fees | 2,012 | 0 | |
Fair value of warrants issued for capital expenditures | 0 | 1,344 | |
Fair value of warrants issued to lender for debt issuance costs | 3,158 | 0 | |
Fair value of stock issued to lender | 1,335 | 0 | |
Issuance of equity to pay off accounts payable | 0 | 893 | |
Parent Company [Member] | |||
Net loss | (107,758) | (47,147) | |
Share-based compensation | 6,410 | 3,928 | |
Depreciation | 29 | 8 | |
Debt related fees and amortization expense | 1,776 | 0 | |
Subsidiary portion of net losses | 91,561 | 34,400 | |
Gain on debt extinguishment | 0 | (421) | |
Gain on litigation | (1,400) | 0 | |
Prepaid expenses | 111 | (38) | |
Accounts payable | (90) | (1,043) | |
Accrued interest expense | 778 | 998 | |
Other liabilities | (4,625) | (902) | |
Other assets | 207 | 109 | |
Net cash used in operating activities | (13,001) | (10,108) | |
Capital expenditures | (128) | 0 | |
Subsidiary advances, net | 1,222 | (95,105) | |
Net cash provided by (used in) investing activities | 1,094 | (95,105) | |
Proceeds from the exercise of stock options | 206 | 1,304 | |
Proceeds from issuance of common stock in equity offering | 11,987 | 103,591 | |
Net cash provided by financing activities | 12,193 | 104,895 | |
Net increase in cash, cash equivalents, and restricted cash | 286 | (318) | |
Cash, cash equivalents, and restricted cash at beginning of period | 0 | 318 | |
Cash, cash equivalents, and restricted cash at end of period | 286 | 0 | |
Income taxes paid | 7 | 7 | |
Fair value of warrants issued to subordinated debt holders | 1,939 | 1,546 | |
Fair value of stock issued to a related party for guarantee fees | 2,012 | 0 | |
Fair value of warrants issued for capital expenditures | 0 | 1,344 | |
Fair value of warrants issued to lender for debt issuance costs | 3,158 | 0 | |
Fair value of stock issued to lender | 1,335 | 0 | |
Issuance of equity to pay off accounts payable | $ 0 | $ 893 |
Note 15 - Subsequent Events (De
Note 15 - Subsequent Events (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | Jan. 01, 2023 | Aug. 08, 2022 | Jul. 01, 2022 | Jan. 01, 2022 | Mar. 06, 2023 | Dec. 31, 2022 | Mar. 08, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Mar. 06, 2020 | Jan. 09, 2012 | Jan. 06, 2012 |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 15.92 | $ 2.59 | $ 2.59 | |||||||||
Preferred Units Series A Redeemable By December 31, 2022 [Member] | ABGL [Member] | ||||||||||||
Preferred Units Issued Value | $ 116,000 | |||||||||||
AAFK [Member] | Warrants in Connection With Subordinated Notes [Member] | ||||||||||||
Class of Warrant or Right, Issued (in shares) | 113 | 113 | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 | |||||||||
Subsequent Event [Member] | Preferred Units Series A Redeemable By December 31, 2022 [Member] | ABGL [Member] | ||||||||||||
Preferred Units Issued Value | $ 125,000 | |||||||||||
Subsequent Event [Member] | AAFK [Member] | Warrants in Connection With Subordinated Notes [Member] | ||||||||||||
Class of Warrant or Right, Issued (in shares) | 113 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.01 | |||||||||||
Subordinated Notes [Member] | AAFK [Member] | ||||||||||||
Debt Instrument, Fee Amount | $ 2,500 | $ 900 | ||||||||||
Subordinated Notes [Member] | Subsequent Event [Member] | ||||||||||||
Equity Financing | $ 25,000 | |||||||||||
Subordinated Notes 1 [Member] | AAFK [Member] | ||||||||||||
Debt Instrument, Cash Extension Fee | $ 90 | |||||||||||
Subordinated Notes 1 [Member] | Subsequent Event [Member] | AAFK [Member] | ||||||||||||
Debt Instrument, Cash Extension Fee | 90 | |||||||||||
Subordinated Notes 2 [Member] | AAFK [Member] | ||||||||||||
Debt Instrument, Cash Extension Fee | $ 250 | |||||||||||
Subordinated Notes 2 [Member] | Subsequent Event [Member] | AAFK [Member] | ||||||||||||
Debt Instrument, Cash Extension Fee | $ 250 | |||||||||||
Amendment No. 22 [Member] | Third Eye Capital [Member] | ||||||||||||
Debt Instrument, Fee Amount | $ 100 | |||||||||||
Amendment No. 22 [Member] | Subsequent Event [Member] | Third Eye Capital [Member] | ||||||||||||
Long-Term Line of Credit, Total | $ 50,000 | |||||||||||
Debt Instrument, Fee Amount | $ 500 | |||||||||||
Reserve Liquidity Facility Paid Monthly in Arrears [Member] | Third Eye Capital [Member] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 30% | |||||||||||
Reserve Liquidity Facility Paid Monthly in Arrears [Member] | Subsequent Event [Member] | Third Eye Capital [Member] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 30% | |||||||||||
Reserve Liquidity Facility if Event of Default Occurred and Continues [Member] | Third Eye Capital [Member] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 40% | |||||||||||
Reserve Liquidity Facility if Event of Default Occurred and Continues [Member] | Subsequent Event [Member] | Third Eye Capital [Member] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 40% | |||||||||||
Amendment No. 25 [Member] | Subsequent Event [Member] | Third Eye Capital [Member] | ||||||||||||
Debt Instrument, Fee Amount | $ 100 |