Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2023 | Jul. 31, 2023 | |
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 | Q2 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-36475 | |
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, $0.001 par value | |
Trading Symbol | AMTX | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 38,847,739 |
Consolidated Condensed Balance
Consolidated Condensed Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 3,494 | $ 4,313 |
Accounts receivable | 6,157 | 1,264 |
Inventories, net of allowance for excess and obsolete inventory of $1,040 as of June 30, 2023 and December 31, 2022, respectively | 7,463 | 4,658 |
Prepaid expenses | 1,212 | 4,248 |
Other current assets | 2,582 | 3,653 |
Total current assets | 20,908 | 18,136 |
Property, plant and equipment, net | 182,783 | 180,441 |
Operating lease right-of-use assets | 2,258 | 2,449 |
Other assets | 6,636 | 6,088 |
Total assets | 212,585 | 207,114 |
Current liabilities: | ||
Accounts payable | 30,306 | 26,168 |
Current portion of long term debt | 21,458 | 12,465 |
Short term borrowings | 41,396 | 36,754 |
Accrued property taxes | 1,522 | 1,206 |
Current portion of operating lease liability | 372 | 338 |
Other current liabilities | 9,578 | 7,268 |
Total current liabilities | 108,921 | 88,281 |
Long term liabilities: | ||
Senior secured notes and revolving notes | 163,871 | 155,843 |
EB-5 notes | 29,500 | 29,500 |
Other long term debt | 11,528 | 11,678 |
Operating lease liability | 1,995 | 2,189 |
Other long term liabilities | 5,991 | 5,477 |
Total long term liabilities | 342,601 | 320,687 |
Stockholders' deficit: | ||
Common stock, $0.001 par value; 80,000 authorized; 38,178 and 35,869 shares issued and outstanding each period, respectively | 38 | 36 |
Additional paid-in capital | 247,017 | 232,546 |
Accumulated deficit | (480,674) | (428,985) |
Accumulated other comprehensive loss | (5,319) | (5,452) |
Total stockholders' deficit | (238,937) | (201,854) |
Total liabilities and stockholders' deficit | 212,585 | 207,114 |
Series B Convertible Preferred Stock [Member] | ||
Stockholders' deficit: | ||
Series B convertible preferred stock, $0.001 par value; 7,235 authorized; 1,260 and 1,270 shares issued and outstanding each period, respectively (aggregate liquidation preference of $3,780 and $3,810 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 | 4,289 | 4,082 |
Long term liabilities: | ||
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Share Value, Amount, Noncurrent | $ 129,716 | $ 116,000 |
Consolidated Condensed Balanc_2
Consolidated Condensed Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Cash and cash equivalents | $ 3,494 | $ 4,313 |
Accounts receivable | 6,157 | 1,264 |
Inventory Valuation Reserves | 1,040 | 1,040 |
Prepaid expenses | 1,212 | 4,248 |
Other current assets | 2,582 | 3,653 |
Property, plant and equipment, net | 182,783 | 180,441 |
Operating lease right-of-use assets | 2,258 | 2,449 |
Other assets | 6,636 | 6,088 |
Accounts payable | 30,306 | 26,168 |
Short term borrowings | 41,396 | 36,754 |
Current portion of operating lease liability | 372 | 338 |
Other current liabilities | 9,578 | 7,268 |
Other long term debt | 11,528 | 11,678 |
Operating lease liability | $ 1,995 | $ 2,189 |
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) | 38,178 | 35,869 |
Common Stock, Shares Outstanding (in shares) | 38,178 | 35,869 |
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) | 1,260 | 1,270 |
Series B Preferred Stock, Shares Outstanding (in shares) | 1,260 | 1,270 |
Aggregate Liquidation Preference | $ 3,780 | $ 3,810 |
Convertible Series B Preferred Stock Subject to Mandatory Redemption [Member] | ||
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Share Value, Amount, Noncurrent | 129,716 | 116,000 |
Variable Interest Entity, Primary Beneficiary [Member] | ||
Cash and cash equivalents | 381 | 165 |
Accounts receivable | 59 | 165 |
Prepaid expenses | 179 | 858 |
Other current assets | 10 | 725 |
Property, plant and equipment, net | 72,031 | 71,633 |
Operating lease right-of-use assets | 185 | 224 |
Other assets | 3,458 | 3,458 |
Accounts payable | 8,775 | 9,192 |
Short term borrowings | 22,730 | 19,831 |
Current portion of operating lease liability | 45 | 41 |
Other current liabilities | 580 | 645 |
Other long term debt | 27 | 31 |
Operating lease liability | 92 | 115 |
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 | $ 129,716 | $ 116,000 |
Consolidated Condensed Statemen
Consolidated Condensed Statements of Operations and Comprehensive (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Revenues | $ 45,112 | $ 65,901 | $ 47,263 | $ 117,950 |
Cost of goods sold | 43,156 | 66,115 | 46,602 | 121,249 |
Gross profit (loss) | 1,956 | (214) | 661 | (3,299) |
Research and development expenses | 37 | 51 | 79 | 87 |
Selling, general and administrative expenses | 9,709 | 7,421 | 20,495 | 14,727 |
Operating loss | (7,790) | (7,686) | (19,913) | (18,113) |
Interest expense | ||||
Interest rate expense | 8,299 | 4,928 | 15,377 | 9,363 |
Debt related fees and amortization expense | 1,330 | 1,740 | 3,299 | 3,566 |
Accretion and other expenses of Series A preferred units | 6,885 | 1,506 | 12,449 | 3,146 |
Gain on litigation | 0 | (1,400) | 0 | (1,400) |
Other income | (91) | (14,254) | (167) | (14,295) |
Loss before income taxes | (24,213) | (206) | (50,871) | (18,493) |
Income tax expense | 1,066 | 3 | 818 | 10 |
Net loss | (25,279) | (209) | (51,689) | (18,503) |
Other comprehensive loss | ||||
Foreign currency translation gain (loss) | 16 | (390) | 133 | (584) |
Comprehensive loss | $ (25,263) | $ (599) | $ (51,556) | $ (19,087) |
Net loss per common share | ||||
Basic (in dollars per share) | $ (0.68) | $ (0.01) | $ (1.40) | $ (0.54) |
Diluted (in dollars per share) | $ (0.68) | $ (0.01) | $ (1.40) | $ (0.54) |
Weighted average shares outstanding | ||||
Basic (in shares) | 37,179 | 34,536 | 36,804 | 34,128 |
Diluted (in shares) | 37,179 | 34,536 | 36,804 | 34,128 |
Consolidated Condensed Statem_2
Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Operating activities: | ||
Net loss | $ (51,689) | $ (18,503) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Share-based compensation | 4,417 | 3,389 |
Depreciation | 3,461 | 2,661 |
Debt related fees and amortization expense | 3,289 | 3,566 |
Intangibles and other amortization expense | 23 | 23 |
Accretion and other expenses of Series A preferred units | 12,449 | 3,146 |
Loss on asset disposals | 0 | 47 |
Warrants issued for working capital agreement | 409 | 0 |
Gain on litigation | 0 | (1,400) |
Loss on lease termination | 0 | 736 |
Deferred tax expense | 701 | 0 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (4,884) | 294 |
Inventories | (2,872) | 187 |
Prepaid expenses | 2,431 | 2,138 |
Other assets | 0 | (1,647) |
Accounts payable | 4,365 | 392 |
Accrued interest expense and fees | 12,095 | 8,542 |
Other liabilities | 1,828 | (10,054) |
Net cash used in operating activities | (13,977) | (6,483) |
Investing activities: | ||
Capital expenditures | (9,808) | (22,518) |
Grant proceeds and other reimbursements received for capital expenditures | 7,302 | 6,147 |
Net cash used in investing activities | (2,506) | (16,371) |
Financing activities: | ||
Proceeds from borrowings | 21,627 | 30,622 |
Repayments of borrowings | (13,424) | (16,191) |
Lender debt renewal and waiver fee payments | (1,681) | (869) |
Payments on finance leases | (311) | (182) |
Proceeds from issuance of common stock in equity offering | 8,915 | 5,124 |
Proceeds from the exercise of stock options | 38 | 201 |
Net cash provided by financing activities | 15,164 | 18,705 |
Effect of exchange rate changes on cash and cash equivalents | (214) | (44) |
Net change in cash and cash equivalents for period | (1,533) | (4,193) |
Cash and cash equivalents at beginning of period | 6,999 | 7,751 |
Cash and cash equivalents at end of period | 5,466 | 3,558 |
Supplemental disclosures of cash flow information, cash paid: | ||
Cash paid for interest | 4,546 | 14,270 |
Income taxes paid | 20 | 10 |
Supplemental disclosures of cash flow information, non-cash transactions: | ||
Subordinated debt extension fees added to debt | 340 | 340 |
Debt fees added to revolving lines | 2,236 | 500 |
Fair value of warrants issued to subordinated debt holders | 448 | 1,393 |
Fair value of stock issued to a related party for guarantee fees | 0 | 2,012 |
Fair value of warrants issued to lender for debt issuance costs | 245 | 3,158 |
Fair value of stock issued to lender | 0 | 1,335 |
Lender debt extension, waiver, and other fees added to debt | 384 | 583 |
Cumulative capital expenditures in accounts payable, including net increase of $474 and $1,535, respectively | 15,885 | 10,230 |
Financing lease liabilities arising from obtaining right of use assets | 0 | 2,932 |
Payment of debt added to revolving lines | $ 0 | $ 16,266 |
Consolidated Condensed Statem_3
Consolidated Condensed Statements of Cash Flows (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Increase (decrease) in cumulative capital expenditures in accounts payable | $ 474 | $ 1,535 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Deficit (Unaudited) - 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 at June 30, 2022 | $ 1 | $ 33 | $ 205,305 | $ (321,227) | $ (4,350) | $ (120,238) |
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 | 341 | ||||
Issuance of common stock | $ 0 | $ 1 | 3,348 | 0 | 0 | 3,349 |
Stock options exercised (in shares) | 0 | 263 | ||||
Stock options exercised | $ 0 | $ 0 | 196 | 0 | 0 | 196 |
Stock-based compensation | $ 0 | $ 0 | 2,040 | 0 | 0 | 2,040 |
Issuance and exercise of warrants (in shares) | 0 | 113 | ||||
Issuance and exercise of warrants | $ 0 | $ 0 | 4,550 | 0 | 0 | 4,550 |
Foreign currency translation gain | 0 | 0 | 0 | 0 | (194) | (194) |
Net loss | $ 0 | 0 | 0 | (18,294) | 0 | (18,294) |
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) | 5 | |||||
Balance (in shares) at Mar. 31, 2022 | 1,270 | 34,179 | ||||
Balance at Mar. 31, 2022 | $ 1 | $ 34 | 215,439 | (339,521) | (4,544) | (128,591) |
Conversion of Stock, Shares Issued (in shares) | 1 | |||||
Stock-based compensation | $ 0 | $ 0 | 2,040 | 0 | 0 | 2,040 |
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) |
Foreign currency translation gain | (584) | |||||
Balance (in shares) at Jun. 30, 2022 | 1,270 | 34,582 | ||||
Balance at Jun. 30, 2022 | $ 1 | $ 35 | 221,915 | (339,730) | (4,934) | (122,713) |
Balance at June 30, 2022 | $ 1 | $ 34 | 215,439 | (339,521) | (4,544) | (128,591) |
Balance (in shares) at Mar. 31, 2022 | 1,270 | 34,179 | ||||
Balance at Mar. 31, 2022 | $ 1 | $ 34 | 215,439 | (339,521) | (4,544) | (128,591) |
Issuance of common stock (in shares) | 0 | 400 | ||||
Issuance of common stock | $ 0 | $ 1 | 5,123 | 0 | 0 | 5,124 |
Stock options exercised (in shares) | 0 | 3 | ||||
Stock options exercised | $ 0 | $ 0 | 4 | 0 | 0 | 4 |
Stock-based compensation | 0 | 0 | 1,349 | 0 | 0 | 1,349 |
Foreign currency translation gain | 0 | 0 | 0 | 0 | (390) | (390) |
Net loss | $ 0 | $ 0 | 0 | (209) | 0 | (209) |
Balance (in shares) at Jun. 30, 2022 | 1,270 | 34,582 | ||||
Balance at Jun. 30, 2022 | $ 1 | $ 35 | 221,915 | (339,730) | (4,934) | (122,713) |
Stock-based compensation | 0 | 0 | 1,349 | 0 | 0 | 1,349 |
Balance at June 30, 2022 | 1 | 35 | 221,915 | (339,730) | (4,934) | (122,713) |
Balance at June 30, 2022 | $ 1 | $ 36 | 232,546 | (428,985) | (5,452) | (201,854) |
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) |
Issuance of common stock (in shares) | 0 | 668 | ||||
Issuance of common stock | $ 0 | $ 1 | 2,616 | 0 | 0 | 2,617 |
Stock options exercised (in shares) | 0 | 40 | ||||
Stock options exercised | $ 0 | $ 0 | 0 | 0 | 0 | 0 |
Stock-based compensation | $ 0 | $ 0 | 2,662 | 0 | 0 | 2,662 |
Issuance and exercise of warrants (in shares) | 0 | 113 | ||||
Issuance and exercise of warrants | $ 0 | $ 0 | 448 | 0 | 0 | 448 |
Foreign currency translation gain | 0 | 0 | 0 | 0 | 117 | 117 |
Net loss | $ 0 | $ 0 | 0 | (26,410) | 0 | (26,410) |
Balance (in shares) at Mar. 31, 2023 | 1,270 | 36,690 | ||||
Balance at Mar. 31, 2023 | $ 1 | $ 37 | 238,272 | (455,395) | (5,335) | (222,420) |
Stock-based compensation | $ 0 | $ 0 | 2,662 | 0 | 0 | 2,662 |
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) |
Foreign currency translation gain | 133 | |||||
Balance (in shares) at Jun. 30, 2023 | 1,260 | 38,178 | ||||
Balance at Jun. 30, 2023 | $ 1 | $ 38 | 247,017 | (480,674) | (5,319) | (238,937) |
Balance at June 30, 2022 | $ 1 | $ 37 | 238,272 | (455,395) | (5,335) | (222,420) |
Balance (in shares) at Mar. 31, 2023 | 1,270 | 36,690 | ||||
Balance at Mar. 31, 2023 | $ 1 | $ 37 | 238,272 | (455,395) | (5,335) | (222,420) |
Issuance of common stock (in shares) | 0 | 1,353 | ||||
Issuance of common stock | $ 0 | $ 1 | 6,298 | 0 | 0 | 6,299 |
Stock options exercised (in shares) | 0 | 72 | ||||
Stock options exercised | $ 0 | $ 0 | 38 | 0 | 0 | 38 |
Stock-based compensation | $ 0 | $ 0 | 1,755 | 0 | 0 | 1,755 |
Issuance and exercise of warrants (in shares) | 0 | 62 | ||||
Issuance and exercise of warrants | $ 0 | 654 | 654 | |||
Foreign currency translation gain | 0 | 0 | 0 | 0 | 16 | 16 |
Net loss | $ 0 | $ 0 | 0 | (25,279) | 0 | (25,279) |
Series B conversion to common stock (in shares) | (10) | (1) | ||||
Series B conversion to common stock | $ 0 | $ 0 | 0 | 0 | 0 | 0 |
Series B conversion to common stock (in shares) | 10 | 1 | ||||
Balance (in shares) at Jun. 30, 2023 | 1,260 | 38,178 | ||||
Balance at Jun. 30, 2023 | $ 1 | $ 38 | 247,017 | (480,674) | (5,319) | (238,937) |
Stock-based compensation | 0 | 0 | 1,755 | 0 | 0 | 1,755 |
Balance at June 30, 2022 | $ 1 | $ 38 | $ 247,017 | $ (480,674) | $ (5,319) | $ (238,937) |
Note 1 - Nature of Activities a
Note 1 - Nature of Activities and Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | 1. Nature of Activities and Summary of Significant Accounting Policies Nature of Activities. Founded in 2006 three not Our California Ethanol segment consists of a 65 third 2022, TM first two December 2022, second 2023. second 2023. Our California Dairy Renewable Natural segment, which consists of our subsidiary Aemetis Biogas LLC and its subsidiaries, ("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; and 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 seven four The dairy digesters are connected via an underground private pipeline owned by ABGL to a gas cleanup and compression unit at the Keyes Plant to produce dairy 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 second 2023, June 30, 2023. July 2023, third 2023. Our All Other segment consists of: our 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. The accompanying consolidated condensed balance sheet as of June 30, 2023 three six June 30, 2023 2022 six June 30, 2023 2022 three six June 30, 2023 2022 December 31, 2022, 2022 2022 10 December 31, 2022 In the opinion of Company’s management, the unaudited interim consolidated condensed financial statements as of and for the three six June 30, 2023 2022 December 31, 2022 three six June 30, 2023 not Use of Estimates Revenue Recognition 606 California Ethanol Revenues: May 13, 2020, October 1, 2021, May 25, 2023, second second second four 120 May 25, 2023, May 25, 2023, one The below table shows our sales in our California Ethanol segment by product category: For the three months ended June 30, For the six months ended June 30, 2023 2022 2023 2022 Ethanol sales $ 8,647 $ 47,656 $ 9,015 $ 85,551 Wet distiller's grains sales 2,553 15,150 2,553 26,666 Other sales 132 3,085 239 5,715 $ 11,332 $ 65,891 $ 11,807 $ 117,932 We have elected to adopt the practical expedient that allows for ignoring 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. We analyzed the principal versus agent relationship criteria below. We buy corn as feedstock in producing ethanol from our working capital partner J.D. Heiskell and we sell all ethanol, WDG, CDO, and CDS produced in this process to J.D. Heiskell. Our ethanol finished goods tank is leased by J.D. Heiskell and legal title to the product is transferred upon transfer of our finished ethanol to this location. We consider the purchase of corn as a cost of goods sold and consider the sale of ethanol as revenue upon transfer to the finished goods tank and consider the sale of WDG, CDO, and CDS as revenue, upon trucks leaving the Keyes Plant with the product, 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 ethanol, WDG, CDO, and CDS is set independently. Revenues from ethanol and WDG 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 Revenues: December 2018, 40 seven 40 We have 34 June 30, 2023 June 30, 2023 D3 $2.80; 415. India Biodiesel Revenues: not one The below table shows our sales in our India Biodiesel segment by product category: For the three months ended June 30, For the six months ended June 30, 2023 2022 2023 2022 Biodiesel sales $ 32,811 $ - $ 34,001 $ - Other sales 759 10 1,039 18 $ 33,570 $ 10 $ 35,040 $ 18 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 when we enter into these situations. Hence, we are the principal in India sales scenarios where our customer and vendor may Cost of Goods Sold Shipping and Handling Costs. Research and Development. Cash, Cash Equivalents, and Restricted Cash. three may not As of June 30, 2023 December 31, 2022 Cash and cash equivalents $ 3,494 $ 4,313 Restricted cash included in other current assets 10 725 Restricted cash included in other assets 1,961 1,961 Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 5,465 $ 6,999 Accounts Receivable. third 30 may 30 not June 30, 2023 December 31, 2022. The Company maintains an allowance for doubtful accounts for balances that appear to have specific collection issues. 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 Inventories first first Variable Interest Entities. 1 2 not Property, Plant and Equipment not 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 Measurements, may not may not not three six June 30, 2023 2022 California Energy Commission Low-Carbon Fuel Production Program June 30, 2023 In October 2020, six 2020 June 30, 2023 California Energy Commission Low Carbon Advanced Ethanol Grant Program. May 2019, not June 30, 2023 December 31, 2022. U.S. Department of Food and Agriculture Forest Service Grant. June 30, 2023 California Energy Commission Grant for Solar Microgrid, DSC and Battery Backup System. 1.56 1.25MW/2.5MWh June 30, 2023 California Department of Forestry and Fire Protection Grant. May 2022. 2 100% June 30, 2023 California Department of Forestry and Fire Protection Grant. May 2022. June 30, 2023 U.S Forest Service Community Wood Grant. May 2022. 3 no June 30, 2023 California Energy Commission Grant for Mechanical Vapor Recompression System. no June 30, 2023 Pacific Gas and Electric SEM Manufacturer s Incentive Program. fourth 2022, 2023. California Energy Commission PG&E A2313 A2313 March 31, 2023. October 2022 three March 31, 2023. Basic and Diluted Net Loss per Share. three six June 30, 2023 2022 The following table shows the number of potentially dilutive shares excluded from the diluted net loss per share calculation as of June 30, 2023 2022 As of June 30, 2023 June 30, 2022 Series B preferred (post split basis) 126 127 Common stock options and warrants 6,107 4,748 Debt with conversion feature at $30 per share of common stock 1,251 1,228 Total number of potentially dilutive shares excluded from the diluted net (loss) per share calculation 7,484 6,103 Comprehensive Income (Loss). 220 Comprehensive Income (Loss) 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 hub 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 Modification Accounting 470 60 470 50 Debt Modification and Extinguishments not 470 50 10 10 For a complete summary of the Company’s significant accounting policies, please refer to the Company’s audited financial statements and notes thereto for the years ended December 31, 2022 2021 10 March 9, 2023. |
Note 2 - Inventories
Note 2 - Inventories | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 2. Inventories Inventories consist of the following: As of June 30, 2023 December 31, 2022 Raw materials $ 2,039 $ 2,971 Work-in-progress 2,973 127 Finished goods 2,451 1,560 Total inventories $ 7,463 $ 4,658 As of June 30, 2023 December 31, 2022 of $920 thousand and none |
Note 3 - Property, Plant and Eq
Note 3 - Property, Plant and Equipment | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 3. Property, Plant and Equipment Property, plant and equipment consist of the following: As of June 30, 2023 December 31, 2022 Land $ 7,348 $ 7,344 Plant and buildings 141,238 99,116 Furniture and fixtures 1,934 1,831 Machinery and equipment 14,984 15,209 Construction in progress 52,731 88,934 Property held for development 15,431 15,437 Finance lease right of use assets 2,889 3,045 Total gross property, plant & equipment 236,555 230,972 Less accumulated depreciation (53,772 ) (50,531 ) Total net property, plant & equipment $ 182,783 $ 180,441 For the three June 30, 2023 2022 as $1.0 million a six June 30, 2023 2022 as $2.8 million a 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. Depreciation on the components of property, plant and equipment is calculated using the straight-line method to allocate their depreciable amounts over their estimated useful lives as follows: Years Plant and buildings 20 - 30 Machinery and equipment 5 - 15 Furniture and fixtures 3 - 5 |
Note 4 - Debt
Note 4 - Debt | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 4. Debt Debt consists of the following: June 30, 2023 December 31, 2022 Third Eye Capital term notes $ 7,143 $ 7,141 Third Eye Capital revolving credit facility 23,711 60,602 Third Eye Capital revolving notes Series B 48,401 Third Eye Capital revenue participation term notes 11,961 11,963 Third Eye Capital acquisition term notes 26,569 26,578 Third Eye Capital Fuels Revolving Line 31,880 27,410 Third Eye Capital Carbon Revolving Line 23,359 22,710 Construction Loan 22,721 19,820 Cilion shareholder seller notes payable 6,923 6,821 Subordinated notes 16,765 15,931 EB-5 promissory notes 41,806 41,404 Term loans on capital expenditures 5,854 5,860 Secured Loans 660 - Total debt 267,753 246,240 Less current portion of debt 62,854 49,219 Total long term debt $ 204,899 $ 197,021 Third Eye Capital Note Purchase Agreement On July 6, 2012, 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 On May 4, 2023, No. 26 No. 26” June 30, 2023, not No. 26 470 50 ASC 470 60 On May 16, 2023, No. 27 No. 27” may April 1, 2025 may No. 27 470 50 470 60 According to ASC 470 10 45 not 12 Q1’23 Q2'23 No. 25 No. 26. 12 5 12 On March 6, 2020, one March 14, 2021, may third April 1, 2023. may April 1, 2023. one may August 9, 2021, March 6, 2023, one April 1, 2024. Terms of Third Eye Capital Notes A. Term Notes. As of June 30, 2023 , the Company had $7.2 million in principal and interest outstanding under the Term Notes and $58 thousand unamortized debt issuance costs. The Term Notes accrue interest at 14% per annum. The Term Notes mature on April 1, 2024*. B. Revolving Credit Facility . The Revolving Credit Facility accrues interest at the prime rate plus 13.75% (22.00% as of June 30, 2023 ) payable monthly in arrears. The Revolving Credit Facility matures on April 1, 2024*. June 30, 2023 , AAFK had $25.0 million in principal and interest and waiver fees outstanding and $1.3 million unamortized debt issuance costs under the Revolving Credit Facility. C. Revolving Notes Series B . The Revolving Notes Series B accrues interest at the prime rate plus 13.75% (22.00% as of June 30, 2023 ) payable monthly in arrears. The Revolving Notes Series B matures on April 1, 2024*. June 30, 2023 , AAFK had $48.9 million in principal and interest and waiver fees outstanding and $0.5 million unamortized debt issuance costs under the Revolving Notes Series B. D. Revenue Participation Term Notes . The Revenue Participation Term Note bears interest at 5% per annum and matures on April 1, 2024*. June 30, 2023 , AAFK had $12.1 million in principal and interest outstanding under the Revenue Participation Term Notes and $130 thousand unamortized debt issuance costs. E. Acquisition Term Notes . The Acquisition Term Notes accrue interest at the prime rate plus 10.75% (19.00% per annum as of June 30, 2023 ) and mature on April 1, 2024. June 30, 2023 , Aemetis Facility Keyes, Inc. had $26.9 million in principal and interest and redemption fees outstanding under the Acquisition Term Notes and $260 thousand unamortized debt issuance costs. The outstanding principal balance includes a total of $7.5 million in redemption fee on which interest is not F. Reserve Liquidity Notes . The Reserve Liquidity Notes, with available borrowing capacity in the amount of $50.0 million, accrues interest at the rate of 30% per annum and are due and payable upon the earlier of: (i) the closing of new debt or equity financings, (ii) receipt from any sale, merger, debt or equity financing, or (iii) April 1, 2024. June 30, 2023 . *The note maturity date can be extended by the Company to April 2025. The Third Eye Capital Notes contain various covenants, including but not not twelve The Third Eye Capital Notes are secured by first Third Eye Capital Revolving Credit Facility for Fuels and Carbon Lines. March 2, 2022, two March 1, 2025 ten March 1, 2026 eight poses and the revolving loans made under the Carbon Revolving Line are available for projects that reduce, capture, use or sequester carbon with the objective of reducing carbon dioxide emissions. In connection with the New Credit Facility, the Company agreed to issue to the lender under the New Credit Facility: (i) warrants entitling the lender to purchase 50,000 shares of common stock of the Company at an exercise price equal to $10.20 per share, exercisable for a five March 2, 2022; ten March 2, 2022. As of June 30, 2023 , GAFI had principal and interest outstanding of $8.6 million classified as current debt and $25.0 million classified as long-term debt and $1.8 million unamortized debt issuance costs. As of June 30, 2023 , ACCI had principal and interest outstanding of $0.5 million classified as current debt and $24.9 million classified as long-term debt and $2.1 million in unamortized debt issuance costs. The current portion of the Revolvin August 31, 2023. June 30, 2023 Cilion shareholder seller notes payable . In connection with the Company’s merger with Cilion, Inc. (“Cilion”), on July 6, 2012, $5.0 o Cilion shareholders as merger compensation subordinated to the senior secured Third Eye Capital Notes. The liability bears interest at 3% per annum and is due and payable after the Third Eye Capital Notes have been paid in full. As of June 30, 2023 , Aemetis Facility Keyes, Inc. had $6.9 million in Subordinated Notes January 6 January 9, 2012, two six six two may On January 1, 2023, two June 30, 2023; ( two The Company evaluated the January 1, 2023 470 50 At June 30, 2023 December 31, 2022 nt of $16.8 million and $15.9 million in principal and interes 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 not 829 5 three The Company has sold an aggregate principal amount of $36.0 million of EB- 5 5 2012 June 30, 2023 , $35.5 million has been released from the escrow amount to the Company, with $0.5 million remaining to be funded to escrow. As of June 30, 2023 and December 31, 2022 , $37.5 million and $37.2 million w 5 5 On October 16, 2016, 5 5 $50.0 5 5 November 21, 2019, 5 100 5 May 1, 2020 No. 3 5 60. 5 52 5 may 5 five 5 The Company has sold an aggregate principal amoun t of $4.0 million of EB- 5 5 2016 June 30, 2023 , $4.0 June 30, 2023 , and December 31, 2022 , $4.3 million and $4.2 million were outstanding on the EB- 5 5 Working capital loans. July 26, 2022, not August 1, 2022, not one June 30, 2023 December 31, 2022, Secured loans. first f 2023, November 15, 2023 May 3, 2024. June 30, 2023 and December 31, 2022, Construction Loan Agreement. October 4, 2022, not 1 March 4, 2023, 80% 2023, June 30, 2023 December 31, 2022, y had $22.7 million and $20.2 million, respectively, out On March 4, 2023, August 1, 2023 470 60 470 60 no Financing Agreement for capital expenditures. TM bility of $1.2 million in short term borrowings and $4.6 million in other long-term debt, r June 30, 2023 Scheduled debt repayments for the Company’s loan obligations by year are as follows: Twelve Months ended June 30, Debt Repayments 2024 $ 62,854 2025 176,070 2026 28,894 2027 3,989 2028 1,400 Thereafter 649 Total debt 273,856 Debt issuance costs (6,103 ) Total debt, net of debt issuance costs $ 267,753 |
Note 5 - Commitments and Contin
Note 5 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2023 | |
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 th e 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 two fourteen 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 measure lease liabilities and right-of-use (“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 April 1, 2022. 842 The components of lease expense and sublease income were as follows: Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Operating lease cost Operating lease expense $ 181 $ 159 $ 362 $ 347 Short term lease expense 21 75 42 102 Variable lease expense 22 23 44 46 Total operating lease cost $ 224 $ 257 $ 448 $ 495 Finance lease cost Amortization of right-of-use assets $ 30 $ 28 $ 61 $ 89 Interest on lease liabilities 82 99 173 119 Total finance lease cost $ 112 $ 127 $ 234 $ 208 Cash paid for amounts included in the measurement of lease liabilities: Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Operating cash flows used in operating leases $ 166 $ 174 $ 330 $ 338 Operating cash flows used in finance leases 82 99 173 118 Financing cash flows used in finance leases $ 228 $ 50 $ 311 $ 182 Supplemental non-cash flow information related to ROU asset and lease liabilities was as follows for the three six June 30, 2023 2022 Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Operating leases Accretion of the lease liability $ 84 $ 85 $ 171 $ 179 Amortization of right-of-use assets 97 74 191 168 The weighted average remaining lease term and weighted average discount rate as of June 30, 2023 are as follows: Weighted Average Remaining Lease Term Operating leases (in years) 4.7 Finance leases (in years) 13.5 Weighted Average Discount Rate Operating leases 14.1 % Finance leases 13.2 % Supplemental balance sheet information related to leases was as follows: June 30, 2023 December 31, 2022 Operating leases Operating lease right-of-use assets $ 2,258 $ 2,449 Current portion of operating lease liability 372 338 Long term operating lease liability 1,995 2,189 Total operating lease liabilities 2,367 2,527 Finance leases Property and equipment, at cost $ 2,889 $ 3,045 Accumulated depreciation (168 ) (112 ) Property and equipment, net 2,721 2,933 Other current liability (57 ) 71 Other long term liabilities 2,724 2,911 Total finance lease liabilities 2,667 2,982 Maturities of operating lease liabilities were as follows: Twelve months ended June 30, Operating leases Finance leases 2024 $ 676 $ 279 2025 675 179 2026 659 151 2027 636 145 2028 599 145 Thereafter - 10,105 Total lease payments 3,245 11,004 Less imputed interest (878 ) (8,337 ) Total lease liability $ 2,367 $ 2,667 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. This was recorded in the Selling, general and administrative expense section of the Consolidated Statements of Operations and Comprehensive Loss. The components of lease income were as follows: Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Lease income $ 484 $ 375 $ 953 $ 375 Future lease commitments to be received by the Company as of June 30, 2023 Twelve months ended June 30, 2024 $ 846 2025 748 2026 621 2027 474 2028 474 Thereafter 829 Total future lease commitments $ 3,992 Legal Proceedings 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 not may |
Note 6 - Aemetis Biogas LLC, Se
Note 6 - Aemetis Biogas LLC, Series A Preferred Financing and Variable Interest Entity | 6 Months Ended |
Jun. 30, 2023 | |
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 June 30, 2023 not may 100% 75% From inception of the agreement to date, ABGL issued 3,200,000 Series A Preferred Units on first second The Company identified freestanding future tranche rights and the accelerated redemption feature related to a change in control provision as derivatives which required bifurcation. These de June 30, 2023 December 31, 2022 On August 8, 2022, X December 20, 2018. December 31, 2022 ( September 30, 2022 January 1, 2023. 470 50 third 2022. On January 1, 2023, not December 31, 2022, May 31, 2023 June 1, 2023 May 31, 2024, 470 60 no December 31, 2022 seventeen May 31, 2024. On May 31, 2023, not May 31, 2023 August 31, 2023, September 1, 2023 August 31, 2024, 470 60 no May 31, 2023 fifteen August 31, 2024. June 30, 2023. The Company recorded Series A Preferred Unit liabilities, net of debt discounts pursuant to these agreements, classified as long-term Series A Preferred Units, of $129.7 million and $116.0 million as of June 30, 2023 and December 31, 2022 , respectively. Variable interest entity assessment After consideration of ABGL’s operations and the above agreement, we concluded that ABGL did not June 30, 2023 e $79.0 million which serve not |
Note 7 - Stock-Based Compensati
Note 7 - Stock-Based Compensation | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 7. 2019 On April 29, 2019, 2019 “2019 may 2019 2019 2019 2007 With the approval of the 2019 2006 2007 2019 2019 Common Stock Reserved for Issuance The following is a summary of awards granted under the Stock Plans: Shares Available for Grant Number of Shares Outstanding Weighted-Average Exercise Price Balance as of December 31, 2022 165 4,694 $ 4.63 Authorized 1,435 - - Options Granted (1,178 ) 1,178 3.75 RSAs Granted (244 ) - - Exercised - (106 ) 1.75 Forfeited/expired 164 (164 ) 5.26 Balance as of June 30, 2023 342 5,602 $ 4.48 As of June 30, 2023 3.6 million options vested under the Stock Plans. Stock-based compensation for employees Stock-based compensation is accounted for in accordance with the provisions of ASC 718 Compensation-Stock Compensation 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. Under ASU 2016 09 Improvements to Employee Share-Based Payments Accounting No. 107, four not zero During the six June 30, 2023 2022 anted 1.2 million and 0.9 million options, respecti For the six months ended June 30, Description 2023 2022 Dividend-yield - % - % Risk-free interest rate 3.82 % 1.66 % Expected volatility 125.32 % 113.45 % Expected life (years) 7.00 7.00 Market value per share on grant date $ 3.75 $ 11.31 Fair value per option on grant date $ 3.43 $ 9.89 During the six June 30, 2023 2022 24 3,850 an As of June 30, 2023 had $10.7 million of total unrecognized compensation expense for employees, which the Company will amortize over the 1.9 years of weighted average r |
Note 8 - Outstanding Warrants
Note 8 - Outstanding Warrants | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Outstanding Warrants [Text Block] | 8. The weighted average fair value calculations for warrants granted are based on the following weighted average assumptions: The Company granted warrants exercisable for 100,000 shares of the Company's common stock at an exercise price of $2.50 per share with a two June 30, 2023 June 30, 2023. For the six months ended June 30, Description 2023 2022 Dividend-yield - % - % Risk-free interest rate 3.76 % 1.75 % Expected volatility 121.50 % 151.41 % Expected life (years) 5.43 3.47 Exercise price per warrant $ 1.53 $ 10.47 Market value per share on grant date $ 3.14 $ 11.29 Fair value per warrant on grant date $ 2.95 $ 9.68 A summary of historical warrant activity follows: Warrants Outstanding & Exercisable Weighted - Average Exercise Price Average Remaining Term in Years Outstanding December 31, 2022 355 $ 15.92 7.48 Granted 373 1.53 Exercised (223 ) 1.24 Outstanding June 30, 2023 505 $ 11.78 6.40 All of the above outstanding warrants are vested and exercisable as of June 30, 2023 June 30, 2023 2022 no |
Note 9 - Agreements
Note 9 - Agreements | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Collaborative Arrangement Disclosure [Text Block] | 9. Working Capital Arrangement. December 31, 2023, one J.D. Heiskell further agreed to sell all ethanol to Murex or other marketing purchasers, all WDG and corn oil to A.L Gilbert, and DCO to other customers under the J.D. Heiskell Purchase Agreement. The Co On May 25, 2023, second second second four 120 As of June 30, 2023 December 31, 2022 none The J.D. Heiskell sales and purchases activity associated with the J.D. Heiskell Purchase Agreement and J.D. Heiskell Procurement Agreement during the three six June 30, 2023 2022 As of and for the three months ended June 30, As of and for the six months ended June 30, 2023 2022 2023 2022 Ethanol Sales $ 8,647 $ - $ 8,647 $ - Wet distiller's grains sales 2,553 15,150 2,553 26,666 Corn oil sales 89 2,812 125 5,150 CDS Sales 11 - 11 - Corn purchases 11,611 54,352 11,913 98,362 Accounts receivable 739 232 739 232 Accounts Payable 39 612 39 612 Working Capital 1,264 - 1,264 - Ethanol and Wet Distillers Grains Marketing Arrangement. October 31, 2023, one May 30, 2023 No. 1 October 1, 2023 March 31, 2025. December 31, 2023, one Accounts receivable associated with our marketing partners was none and $0.6 mi June 30, 2023 December 31, 2022 For the three June 30, 2023 2022 ts of $0.2 million and $0.8 million, respectively, and for the six June 30, 2023 2022 $0.2 million and $ under the terms of both the Ethanol Marketing Agreement and the Wet Distillers Grains Marketing Agreement. These marketing costs are presented as part of Selling, General, and Administration expense. Supply Trade Agreement. July 1, 2022, ten one one June 30, 2023 December 31, 2022 $0.2 million no outstanding balanc As of June 30, 2023 2022 |
Note 10 - Segment Information
Note 10 - Segment Information | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 10. Segment Information Aemetis recognizes three The “California Ethanol” reportable segment includes the Company’s 65 million gallon per year Keyes Plant, 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 three June 30, 2023 2022 For the three months ended June 30, 2023 California Ethanol California Dairy Renewable Natural Gas India Biodiesel All other Total Revenues $ 11,332 $ 210 $ 33,570 $ - $ 45,112 Gross loss (2,322 ) (1,064 ) 5,342 - 1,956 Interest expense including amortization of debt fees 6,252 517 225 2,635 9,629 Accretion and other expenses of Series A preferred units - 6,885 - - 6,885 Capital expenditures 726 1,304 115 47 2,192 Depreciation 960 523 157 31 1,671 For the three months ended June 30, 2022 California Ethanol California Dairy Renewable Natural Gas India Biodiesel All other Total Revenues from external customers $ 65,891 $ - $ 10 $ - $ 65,901 Intersegment revenues - 297 - - 297 Gross profit (loss) (152 ) (68 ) 10 (4 ) (214 ) Interest expense including amortization of debt fees 4,869 7 - 1,792 6,668 Accretion and other expenses of Series A preferred units - 1,506 - - 1,506 Capital expenditures 5,366 6,696 69 928 13,059 Depreciation 977 154 164 30 1,325 A reconciliation of reportable segment revenues to total consolidated revenue for the three June 30, 2023 2022 2023 2022 Total revenues for reportable segments $ 45,112 $ 66,198 Elimination of intersegment revenues - (297 ) Total consolidated revenues $ 45,112 $ 65,901 Summarized financial information by reportable segment for the six June 30, 2023 2022 For the six months ended June 30, 2023 California Ethanol California Dairy Renewable Natural Gas India Biodiesel All other Total Revenues $ 11,807 $ 416 $ 35,040 $ - $ 47,263 Gross profit (loss) (2,334 ) (1,837 ) 4,832 - 661 Interest expense including amortization of debt fees 11,770 1,221 294 5,391 18,676 Accretion and other expenses of Series A preferred units - 12,449 - - 12,449 Capital expenditures 1,060 7,803 151 794 9,808 Depreciation 2,069 980 312 100 3,461 For the six months ended June 30, 2022 California Ethanol California Dairy Renewable Natural Gas India Biodiesel All other Total Revenues from external customers $ 117,932 $ - $ 18 $ - $ 117,950 Intersegment revenues - 632 - - 632 Gross profit (loss) (3,032 ) (275 ) 18 (10 ) (3,299 ) Interest expense including amortization of debt fees 10,514 11 - 2,404 12,929 Accretion and other expenses of Series A preferred units - 3,146 - - 3,146 Capital expenditures 7,169 12,145 136 3,068 22,518 Depreciation 1,988 300 332 41 2,661 A reconciliation of reportable segment revenues to total consolidated revenue for the six June 30, 2023 2022 2023 2022 Total revenues for reportable segments $ 47,263 $ 118,582 Elimination of intersegment revenues - (632 ) Total consolidated revenues $ 47,263 $ 117,950 Total assets by reportable segments as of June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 California Ethanol $ 64,757 $ 66,794 California Dairy Renewable Natural Gas 76,302 77,714 India Biodiesel 22,751 16,120 All other 48,775 46,486 Total consolidated assets $ 212,585 $ 207,114 California Ethanol: he Company amended the Corn Procurement and Working Capital Agreement and the J.D. Heiskell Purchasing Agreement to procure corn from J.D. Heiskell and sell all WDG and corn oil the Company produces to J.D. Heiskell. Sales of ethanol to one three June 30, 2023 . Sales of ethanol, WDG, and corn oil to two three June 30, 2022 . Sales of ethanol, WDG, corn oil to one six June 30, 2023 . Sales of ethanol, WDG, and corn oil to two six June 30, 2022 . California Dairy Renewable Natural Gas: three six June 30, 2023 one or the three six June 30, 2022 India Biodiesel: hree biodiesel customers accounted for 49%, 28%, and 21% of the Company’s consolidated India segment revenues for the three June 30, 2023 . Three biodiesel customers accounted for 47%, 27% and 20% o six June 30, 2023 |
Note 11 - Related Party Transac
Note 11 - Related Party Transactions | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 11. Related Party Transactions The Company owes Eric McAfee, the Company’s Chairman and CEO, and McAfee Capital LLC (“McAfee Capital”), owned by Eric McAfe e, $0.4 million in conn June 30, 2023 On January 12, 2022, one In the first 2023, one June 30, 2023 $0.2 million has be The Company owes various members of the Board amounts totaling $0.4 million and $0.3 million as of June 30, 2023 and December 31, 2022 , in connection with board compensation fees, which are included in accounts payable on the balance sheet. For the three June 30, 2023 2022 , the Company expensed $0.1 million respectively, in connection with board compensation fees. For the six June 30, 2023 2022 , the Company expensed $0.2 million respectively, in connection with board compensation fees. |
Note 12 - Subsequent Events
Note 12 - Subsequent Events | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 12. Subsequent Events Subordinated Debt Refinancing On July 1, 2023, two December 31, 2023; ( not two July 1, 2023 470 50 Debt - Modification and Extinguishment Construction Loan Agreement On July 28, 2023, “AB2 AB2 not $25 2 five five 5.00%. August 15, 2023, ( August 15, 2025, July 28, 2043, The AB2 2024, AB2 Amendment and Waiver No. 2 On August 1, 2023, No. 2 No. 2" August 31, 2023 |
Note 13 - Management's Plan
Note 13 - Management's Plan | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | 13. 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, negative market conditions resulting in prolonged idling of the Keyes Plant, negative operating results, and collateralization of substantially all of the company assets, the Company has been reliant on its senior secured lender to provide additional funding and has been required to remit substantially all excess cash from operations to the senior secured lender. In order to meet its obligations during the next twelve For the Keyes Plant, we restarted the plant during the second 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. The repatriation of funds from India to the parent company in the U.S. is reliant on favorable governmental approvals. 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) | 6 Months Ended |
Jun. 30, 2023 | |
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. The accompanying consolidated condensed balance sheet as of June 30, 2023 three six June 30, 2023 2022 six June 30, 2023 2022 three six June 30, 2023 2022 December 31, 2022, 2022 2022 10 December 31, 2022 In the opinion of Company’s management, the unaudited interim consolidated condensed financial statements as of and for the three six June 30, 2023 2022 December 31, 2022 three six June 30, 2023 not |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
Revenue [Policy Text Block] | Revenue Recognition 606 California Ethanol Revenues: May 13, 2020, October 1, 2021, May 25, 2023, second second second four 120 May 25, 2023, May 25, 2023, one The below table shows our sales in our California Ethanol segment by product category: For the three months ended June 30, For the six months ended June 30, 2023 2022 2023 2022 Ethanol sales $ 8,647 $ 47,656 $ 9,015 $ 85,551 Wet distiller's grains sales 2,553 15,150 2,553 26,666 Other sales 132 3,085 239 5,715 $ 11,332 $ 65,891 $ 11,807 $ 117,932 We have elected to adopt the practical expedient that allows for ignoring 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. We analyzed the principal versus agent relationship criteria below. We buy corn as feedstock in producing ethanol from our working capital partner J.D. Heiskell and we sell all ethanol, WDG, CDO, and CDS produced in this process to J.D. Heiskell. Our ethanol finished goods tank is leased by J.D. Heiskell and legal title to the product is transferred upon transfer of our finished ethanol to this location. We consider the purchase of corn as a cost of goods sold and consider the sale of ethanol as revenue upon transfer to the finished goods tank and consider the sale of WDG, CDO, and CDS as revenue, upon trucks leaving the Keyes Plant with the product, 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 ethanol, WDG, CDO, and CDS is set independently. Revenues from ethanol and WDG 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 Revenues: December 2018, 40 seven 40 We have 34 June 30, 2023 June 30, 2023 D3 $2.80; 415. India Biodiesel Revenues: not one The below table shows our sales in our India Biodiesel segment by product category: For the three months ended June 30, For the six months ended June 30, 2023 2022 2023 2022 Biodiesel sales $ 32,811 $ - $ 34,001 $ - Other sales 759 10 1,039 18 $ 33,570 $ 10 $ 35,040 $ 18 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 when we enter into these situations. Hence, we are the principal in India sales scenarios where our customer and vendor may |
Cost of Goods and Service [Policy Text Block] | Cost of Goods Sold |
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 As of June 30, 2023 December 31, 2022 Cash and cash equivalents $ 3,494 $ 4,313 Restricted cash included in other current assets 10 725 Restricted cash included in other assets 1,961 1,961 Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 5,465 $ 6,999 |
Receivable [Policy Text Block] | Accounts Receivable. third 30 may 30 not June 30, 2023 December 31, 2022. The Company maintains an allowance for doubtful accounts for balances that appear to have specific collection issues. 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 |
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 not 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 Measurements, may not may not not three six June 30, 2023 2022 |
California Energy Commission Low Carbon Fuel Production Program [Policy Text Block] | California Energy Commission Low-Carbon Fuel Production Program June 30, 2023 In October 2020, six 2020 June 30, 2023 |
California Energy Commission Low Carbon Advanced Ethanol Grant Program [Policy Text Block] | California Energy Commission Low Carbon Advanced Ethanol Grant Program. May 2019, not June 30, 2023 December 31, 2022. |
U.S. Department of Food and Agriculture Forest Service Grant [Policy Text Block] | U.S. Department of Food and Agriculture Forest Service Grant. June 30, 2023 |
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 June 30, 2023 |
California Department of Forestry and Fire Protection Grant [Policy Text Block] | California Department of Forestry and Fire Protection Grant. May 2022. 2 100% June 30, 2023 |
California Department of Forestry and Fire Protection Grant 2 [Policy Text Block] | California Department of Forestry and Fire Protection Grant. May 2022. June 30, 2023 |
United States Forest Service Community Wood Grant [Policy Text Block] | U.S Forest Service Community Wood Grant. May 2022. 3 no June 30, 2023 |
California Energy Commission Grant for Mechanical Vapor Recompression System [Policy Text Block] | California Energy Commission Grant for Mechanical Vapor Recompression System. no June 30, 2023 |
Pacific Gas and Electric SEM Manufacturer's Incentive Program [Policy Text Block] | Pacific Gas and Electric SEM Manufacturer s Incentive Program. fourth 2022, 2023. |
California Energy Commission PG&E A2313 Pipeline Interconnection Grant [Policy Text Block] | California Energy Commission PG&E A2313 A2313 March 31, 2023. October 2022 three March 31, 2023. |
Earnings Per Share, Policy [Policy Text Block] | Basic and Diluted Net Loss per Share. three six June 30, 2023 2022 The following table shows the number of potentially dilutive shares excluded from the diluted net loss per share calculation as of June 30, 2023 2022 As of June 30, 2023 June 30, 2022 Series B preferred (post split basis) 126 127 Common stock options and warrants 6,107 4,748 Debt with conversion feature at $30 per share of common stock 1,251 1,228 Total number of potentially dilutive shares excluded from the diluted net (loss) per share calculation 7,484 6,103 |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income (Loss). 220 Comprehensive Income (Loss) 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 hub 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 Modification Accounting 470 60 470 50 Debt Modification and Extinguishments not 470 50 10 10 For a complete summary of the Company’s significant accounting policies, please refer to the Company’s audited financial statements and notes thereto for the years ended December 31, 2022 2021 10 March 9, 2023. |
Note 1 - Nature of Activities_2
Note 1 - Nature of Activities and Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | For the three months ended June 30, For the six months ended June 30, 2023 2022 2023 2022 Ethanol sales $ 8,647 $ 47,656 $ 9,015 $ 85,551 Wet distiller's grains sales 2,553 15,150 2,553 26,666 Other sales 132 3,085 239 5,715 $ 11,332 $ 65,891 $ 11,807 $ 117,932 For the three months ended June 30, For the six months ended June 30, 2023 2022 2023 2022 Biodiesel sales $ 32,811 $ - $ 34,001 $ - Other sales 759 10 1,039 18 $ 33,570 $ 10 $ 35,040 $ 18 |
Schedule of Cash and Cash Equivalents [Table Text Block] | As of June 30, 2023 December 31, 2022 Cash and cash equivalents $ 3,494 $ 4,313 Restricted cash included in other current assets 10 725 Restricted cash included in other assets 1,961 1,961 Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 5,465 $ 6,999 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | As of June 30, 2023 June 30, 2022 Series B preferred (post split basis) 126 127 Common stock options and warrants 6,107 4,748 Debt with conversion feature at $30 per share of common stock 1,251 1,228 Total number of potentially dilutive shares excluded from the diluted net (loss) per share calculation 7,484 6,103 |
Note 2 - Inventories (Tables)
Note 2 - Inventories (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | As of June 30, 2023 December 31, 2022 Raw materials $ 2,039 $ 2,971 Work-in-progress 2,973 127 Finished goods 2,451 1,560 Total inventories $ 7,463 $ 4,658 |
Note 3 - Property, Plant and _2
Note 3 - Property, Plant and Equipment (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | As of June 30, 2023 December 31, 2022 Land $ 7,348 $ 7,344 Plant and buildings 141,238 99,116 Furniture and fixtures 1,934 1,831 Machinery and equipment 14,984 15,209 Construction in progress 52,731 88,934 Property held for development 15,431 15,437 Finance lease right of use assets 2,889 3,045 Total gross property, plant & equipment 236,555 230,972 Less accumulated depreciation (53,772 ) (50,531 ) Total net property, plant & equipment $ 182,783 $ 180,441 |
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) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | June 30, 2023 December 31, 2022 Third Eye Capital term notes $ 7,143 $ 7,141 Third Eye Capital revolving credit facility 23,711 60,602 Third Eye Capital revolving notes Series B 48,401 Third Eye Capital revenue participation term notes 11,961 11,963 Third Eye Capital acquisition term notes 26,569 26,578 Third Eye Capital Fuels Revolving Line 31,880 27,410 Third Eye Capital Carbon Revolving Line 23,359 22,710 Construction Loan 22,721 19,820 Cilion shareholder seller notes payable 6,923 6,821 Subordinated notes 16,765 15,931 EB-5 promissory notes 41,806 41,404 Term loans on capital expenditures 5,854 5,860 Secured Loans 660 - Total debt 267,753 246,240 Less current portion of debt 62,854 49,219 Total long term debt $ 204,899 $ 197,021 |
Schedule of Maturities of Long-Term Debt [Table Text Block] | Twelve Months ended June 30, Debt Repayments 2024 $ 62,854 2025 176,070 2026 28,894 2027 3,989 2028 1,400 Thereafter 649 Total debt 273,856 Debt issuance costs (6,103 ) Total debt, net of debt issuance costs $ 267,753 |
Note 5 - Commitments and Cont_2
Note 5 - Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Operating lease cost Operating lease expense $ 181 $ 159 $ 362 $ 347 Short term lease expense 21 75 42 102 Variable lease expense 22 23 44 46 Total operating lease cost $ 224 $ 257 $ 448 $ 495 Finance lease cost Amortization of right-of-use assets $ 30 $ 28 $ 61 $ 89 Interest on lease liabilities 82 99 173 119 Total finance lease cost $ 112 $ 127 $ 234 $ 208 Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Operating cash flows used in operating leases $ 166 $ 174 $ 330 $ 338 Operating cash flows used in finance leases 82 99 173 118 Financing cash flows used in finance leases $ 228 $ 50 $ 311 $ 182 |
Supplemental Non-cash Flow Information Related to Leases [Table Text Block] | Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Operating leases Accretion of the lease liability $ 84 $ 85 $ 171 $ 179 Amortization of right-of-use assets 97 74 191 168 The weighted average remaining lease term and weighted average discount rate as of June 30, 2023 are as follows: Weighted Average Remaining Lease Term Operating leases (in years) 4.7 Finance leases (in years) 13.5 Weighted Average Discount Rate Operating leases 14.1 % Finance leases 13.2 % |
Supplemental Balance Sheet Information Related to Leases [Table Text Block] | June 30, 2023 December 31, 2022 Operating leases Operating lease right-of-use assets $ 2,258 $ 2,449 Current portion of operating lease liability 372 338 Long term operating lease liability 1,995 2,189 Total operating lease liabilities 2,367 2,527 Finance leases Property and equipment, at cost $ 2,889 $ 3,045 Accumulated depreciation (168 ) (112 ) Property and equipment, net 2,721 2,933 Other current liability (57 ) 71 Other long term liabilities 2,724 2,911 Total finance lease liabilities 2,667 2,982 |
Lease Term [Table Text Block] | Twelve months ended June 30, Operating leases Finance leases 2024 $ 676 $ 279 2025 675 179 2026 659 151 2027 636 145 2028 599 145 Thereafter - 10,105 Total lease payments 3,245 11,004 Less imputed interest (878 ) (8,337 ) Total lease liability $ 2,367 $ 2,667 |
Operating Lease, Lease Income [Table Text Block] | Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Lease income $ 484 $ 375 $ 953 $ 375 |
Lessor, Operating Lease, Payment to be Received, Maturity [Table Text Block] | Twelve months ended June 30, 2024 $ 846 2025 748 2026 621 2027 474 2028 474 Thereafter 829 Total future lease commitments $ 3,992 |
Note 7 - Stock-Based Compensa_2
Note 7 - Stock-Based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
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, 2022 165 4,694 $ 4.63 Authorized 1,435 - - Options Granted (1,178 ) 1,178 3.75 RSAs Granted (244 ) - - Exercised - (106 ) 1.75 Forfeited/expired 164 (164 ) 5.26 Balance as of June 30, 2023 342 5,602 $ 4.48 |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | For the six months ended June 30, Description 2023 2022 Dividend-yield - % - % Risk-free interest rate 3.82 % 1.66 % Expected volatility 125.32 % 113.45 % Expected life (years) 7.00 7.00 Market value per share on grant date $ 3.75 $ 11.31 Fair value per option on grant date $ 3.43 $ 9.89 |
Note 8 - Outstanding Warrants (
Note 8 - Outstanding Warrants (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Warrants, Valuation Assumptions [Table Text Block] | For the six months ended June 30, Description 2023 2022 Dividend-yield - % - % Risk-free interest rate 3.76 % 1.75 % Expected volatility 121.50 % 151.41 % Expected life (years) 5.43 3.47 Exercise price per warrant $ 1.53 $ 10.47 Market value per share on grant date $ 3.14 $ 11.29 Fair value per warrant on grant date $ 2.95 $ 9.68 |
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, 2022 355 $ 15.92 7.48 Granted 373 1.53 Exercised (223 ) 1.24 Outstanding June 30, 2023 505 $ 11.78 6.40 |
Note 9 - Agreements (Tables)
Note 9 - Agreements (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Collaborative Arrangement and Arrangement Other than Collaborative [Table Text Block] | As of and for the three months ended June 30, As of and for the six months ended June 30, 2023 2022 2023 2022 Ethanol Sales $ 8,647 $ - $ 8,647 $ - Wet distiller's grains sales 2,553 15,150 2,553 26,666 Corn oil sales 89 2,812 125 5,150 CDS Sales 11 - 11 - Corn purchases 11,611 54,352 11,913 98,362 Accounts receivable 739 232 739 232 Accounts Payable 39 612 39 612 Working Capital 1,264 - 1,264 - |
Note 10 - Segment Information (
Note 10 - Segment Information (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | For the three months ended June 30, 2023 California Ethanol California Dairy Renewable Natural Gas India Biodiesel All other Total Revenues $ 11,332 $ 210 $ 33,570 $ - $ 45,112 Gross loss (2,322 ) (1,064 ) 5,342 - 1,956 Interest expense including amortization of debt fees 6,252 517 225 2,635 9,629 Accretion and other expenses of Series A preferred units - 6,885 - - 6,885 Capital expenditures 726 1,304 115 47 2,192 Depreciation 960 523 157 31 1,671 For the three months ended June 30, 2022 California Ethanol California Dairy Renewable Natural Gas India Biodiesel All other Total Revenues from external customers $ 65,891 $ - $ 10 $ - $ 65,901 Intersegment revenues - 297 - - 297 Gross profit (loss) (152 ) (68 ) 10 (4 ) (214 ) Interest expense including amortization of debt fees 4,869 7 - 1,792 6,668 Accretion and other expenses of Series A preferred units - 1,506 - - 1,506 Capital expenditures 5,366 6,696 69 928 13,059 Depreciation 977 154 164 30 1,325 For the six months ended June 30, 2023 California Ethanol California Dairy Renewable Natural Gas India Biodiesel All other Total Revenues $ 11,807 $ 416 $ 35,040 $ - $ 47,263 Gross profit (loss) (2,334 ) (1,837 ) 4,832 - 661 Interest expense including amortization of debt fees 11,770 1,221 294 5,391 18,676 Accretion and other expenses of Series A preferred units - 12,449 - - 12,449 Capital expenditures 1,060 7,803 151 794 9,808 Depreciation 2,069 980 312 100 3,461 For the six months ended June 30, 2022 California Ethanol California Dairy Renewable Natural Gas India Biodiesel All other Total Revenues from external customers $ 117,932 $ - $ 18 $ - $ 117,950 Intersegment revenues - 632 - - 632 Gross profit (loss) (3,032 ) (275 ) 18 (10 ) (3,299 ) Interest expense including amortization of debt fees 10,514 11 - 2,404 12,929 Accretion and other expenses of Series A preferred units - 3,146 - - 3,146 Capital expenditures 7,169 12,145 136 3,068 22,518 Depreciation 1,988 300 332 41 2,661 |
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] | 2023 2022 Total revenues for reportable segments $ 45,112 $ 66,198 Elimination of intersegment revenues - (297 ) Total consolidated revenues $ 45,112 $ 65,901 2023 2022 Total revenues for reportable segments $ 47,263 $ 118,582 Elimination of intersegment revenues - (632 ) Total consolidated revenues $ 47,263 $ 117,950 |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | June 30, 2023 December 31, 2022 California Ethanol $ 64,757 $ 66,794 California Dairy Renewable Natural Gas 76,302 77,714 India Biodiesel 22,751 16,120 All other 48,775 46,486 Total consolidated assets $ 212,585 $ 207,114 |
Note 1 - Nature of Activities_3
Note 1 - Nature of Activities and Summary of Significant Accounting Policies (Details Textual) gal in Millions | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jul. 31, 2023 USD ($) | Apr. 30, 2023 USD ($) | May 31, 2022 USD ($) | Oct. 31, 2020 USD ($) | Jun. 30, 2023 USD ($) MMBTU | Mar. 31, 2023 USD ($) gal | Dec. 31, 2022 USD ($) | Jun. 30, 2023 USD ($) MMBTU | Dec. 31, 2022 USD ($) | |
Renewable Natural Gas in Storage (Millions of British Thermal Unit) | MMBTU | 86,700 | 86,700 | |||||||
Low Carbon Fuel Standard Credits, Per Metric Ton | $ 76 | $ 76 | |||||||
Low Carbon Fuel Standard Credits, Per D3 Cellulosic RIN | 2.80 | 2.80 | |||||||
Low Carbon Fuel Standard Credits, Estimated Market Value Per MMBtu | 68.22 | 68.22 | |||||||
U.S. Department of Food And Agriculture Forest Service [Member] | |||||||||
Awarded Grants | 245,000 | ||||||||
Proceeds from Grantors | 245,000 | ||||||||
LCFPP [Member] | |||||||||
Awarded Grants | 4,200,000 | ||||||||
Proceeds from Grantors | 3,800,000 | ||||||||
CDFAs[Member] | |||||||||
Awarded Grants | $ 7,800,000 | ||||||||
Proceeds from Grantors | 4,400,000 | ||||||||
CEC [Member] | |||||||||
Awarded Grants | 8,000,000 | ||||||||
Proceeds from Grantors | 4,200,000 | ||||||||
Matching Contribution | 1,600,000 | ||||||||
Actual Expenses Incurred | 5,000,000 | ||||||||
Unearned Grant Proceeds | 1,700,000 | $ 1,700,000 | |||||||
CEC [Member] | Maximum [Member] | |||||||||
Awarded Grants | 5,000,000 | ||||||||
CEC [Member] | Minimum [Member] | |||||||||
Matching Contribution | 7,900,000 | ||||||||
CAL FIRE Business and Workforce Development Grant Program [Member] | |||||||||
Awarded Grants | $ 2,000,000 | ||||||||
Proceeds from Grantors | 0 | ||||||||
Matching Contribution | 5,800,000 | ||||||||
CAL Fire [Member] | |||||||||
Awarded Grants | 500,000 | ||||||||
Proceeds from Grantors | $ 0 | ||||||||
US Forest Service [Member] | |||||||||
Awarded Grants | 642,000 | ||||||||
Matching Contribution | $ 2,400,000 | ||||||||
AAFK Plan [Member] | |||||||||
Awarded Grants | 6,000,000 | ||||||||
Matching Contribution | 5,300,000 | ||||||||
PG&E SEM Incentive Program [Member] | |||||||||
Proceeds from Grantors | $ 374,000 | $ 27,000 | |||||||
CEC PG&E Pipeline Interconnect [Member] | |||||||||
Proceeds from Grantors | $ 5,000,000 | ||||||||
Kakinada Plant [Member] | |||||||||
GallonPerYear (Gallon) | gal | 50 | ||||||||
Amount of Biodiesel, Offer To Ship | $ 34,000,000 | ||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 32,800,000 | ||||||||
Kakinada Plant [Member] | Subsequent Event [Member] | |||||||||
Amount of Biodiesel, Offer To Ship | $ 20,000,000 |
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 | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
India Biodiesel [Member] | ||||
Sales | $ 33,570 | $ 10 | $ 35,040 | $ 18 |
Biodiesel Sales [Member] | India Biodiesel [Member] | ||||
Sales | 32,811 | 0 | 34,001 | 0 |
Other Sales [Member] | India Biodiesel [Member] | ||||
Sales | 759 | 10 | 1,039 | 18 |
California [Member] | ||||
Sales | 11,332 | 65,891 | 11,807 | 117,932 |
California [Member] | Ethanol Sales [Member] | ||||
Sales | 8,647 | 47,656 | 9,015 | 85,551 |
California [Member] | Wet Distiller's Grains Sales [Member] | ||||
Sales | 2,553 | 15,150 | 2,553 | 26,666 |
California [Member] | Other Sales [Member] | ||||
Sales | $ 132 | $ 3,085 | $ 239 | $ 5,715 |
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 | Jun. 30, 2023 | Dec. 31, 2022 |
Cash and cash equivalents | $ 3,494 | $ 4,313 |
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows | 5,465 | 6,999 |
Other Current Assets [Member] | ||
Restricted cash | 10 | 725 |
Other Assets [Member] | ||
Restricted cash | $ 1,961 | $ 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 | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Total Number of Potentially Dilutive Shares Excluded from the basic and diluted net loss per share calculation (in shares) | 7,484 | 6,103 |
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) | 126 | 127 |
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) | 6,107 | 4,748 |
Debt with Conversion Feature [Member] | ||
Total Number of Potentially Dilutive Shares Excluded from the basic and diluted net loss per share calculation (in shares) | 1,251 | 1,228 |
Note 2 - Inventories (Details T
Note 2 - Inventories (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Inventory Write-down | $ 920 | $ 0 |
Note 2 - Inventories - Schedule
Note 2 - Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Raw materials | $ 2,039 | $ 2,971 |
Work-in-progress | 2,973 | 127 |
Finished goods | 2,451 | 1,560 |
Total inventories | $ 7,463 | $ 4,658 |
Note 3 - Property, Plant and _3
Note 3 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Capitalized Interest Costs, Including Allowance for Funds Used During Construction | $ 1 | $ 2.6 | $ 2.8 | $ 4.7 |
Note 3 - Property, Plant and _4
Note 3 - Property, Plant and Equipment - Schedule of Property, Plant, and Equipment (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Land | $ 7,348 | $ 7,344 |
Plant and buildings | 141,238 | 99,116 |
Furniture and fixtures | 1,934 | 1,831 |
Machinery and equipment | 14,984 | 15,209 |
Construction in progress | 52,731 | 88,934 |
Property held for development | 15,431 | 15,437 |
Total gross property, plant & equipment | 236,555 | 230,972 |
Less accumulated depreciation | (53,772) | (50,531) |
Total net property, plant & equipment | 182,783 | 180,441 |
Property, Plant and Equipment [Member] | ||
Finance lease right of use assets | $ 2,889 | $ 3,045 |
Note 3 - Property, Plant and _5
Note 3 - Property, Plant and Equipment - Depreciation of property, Plant, and Equipment (Details) | Jun. 30, 2023 |
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) $ / shares in Units, GT in Millions | Jun. 30, 2023 USD ($) $ / shares shares | May 16, 2023 USD ($) $ / shares shares | Jan. 01, 2023 USD ($) $ / shares shares | Mar. 02, 2022 USD ($) $ / shares shares | Jul. 06, 2012 USD ($) | Mar. 04, 2011 USD ($) | May 04, 2023 USD ($) GT | Mar. 31, 2023 USD ($) | Mar. 06, 2023 USD ($) | Mar. 04, 2023 USD ($) | Dec. 31, 2022 USD ($) $ / shares | Oct. 04, 2022 USD ($) | Aug. 08, 2022 USD ($) | Aug. 01, 2022 USD ($) | Jul. 26, 2022 USD ($) | May 11, 2022 USD ($) | Mar. 08, 2022 USD ($) | Aug. 09, 2021 USD ($) | Mar. 14, 2021 USD ($) | May 01, 2020 USD ($) | Mar. 06, 2020 USD ($) | Nov. 21, 2019 USD ($) | Feb. 27, 2019 $ / shares | Jan. 09, 2012 USD ($) $ / shares | Jan. 06, 2012 USD ($) |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 11.78 | $ 15.92 | |||||||||||||||||||||||
Long-Term Debt, Total | $ 267,753,000 | ||||||||||||||||||||||||
Short-Term Debt | 41,396,000 | $ 36,754,000 | |||||||||||||||||||||||
Long-Term Debt, Current Maturities | $ 21,458,000 | $ 12,465,000 | |||||||||||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 6 years 4 months 24 days | 7 years 5 months 23 days | |||||||||||||||||||||||
Debt, Long-Term and Short-Term, Combined Amount | $ 267,753,000 | $ 246,240,000 | |||||||||||||||||||||||
Other Long-Term Debt, Noncurrent | 11,528,000 | 11,678,000 | |||||||||||||||||||||||
Stock Issued Under Fuels Revolving Line [Member] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 100,000 | ||||||||||||||||||||||||
Five Year Warrants in Connection With New Credit Facility [Member] | Third Eye Capital [Member] | |||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 50,000 | ||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 10.20 | ||||||||||||||||||||||||
Ten Year Warrants in Connection With New Credit Facility [Member] | Third Eye Capital [Member] | |||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 250,000 | ||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 20 | ||||||||||||||||||||||||
Warrants in Connection With Subordinated Notes [Member] | AAFK [Member] | |||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.01 | $ 0.01 | |||||||||||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 2 years | 2 years | |||||||||||||||||||||||
Class of Warrant or Right, Issued (in shares) | shares | 113,000 | ||||||||||||||||||||||||
Revolving Credit Facility [Member] | |||||||||||||||||||||||||
Repayments of Long-Term Lines of Credit | $ 16,000,000 | ||||||||||||||||||||||||
Property Taxes Payment | 6,100,000 | ||||||||||||||||||||||||
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] | Mr. McAfee [Member] | |||||||||||||||||||||||||
Net Amount at Risk by Product and Guarantee, Net Amount at Risk | $ 8,000,000 | ||||||||||||||||||||||||
Third Eye Capital [Member] | Warrants in Association With Amendment No. 27 [Member] | |||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 80,000 | 80,000 | |||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 2 | $ 2 | |||||||||||||||||||||||
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 | $ 25,000,000 | ||||||||||||||||||||||||
Debt Issuance Costs, Net | $ 1,300,000 | ||||||||||||||||||||||||
Third Eye Capital [Member] | Revolving Credit Facility [Member] | Prime Rate [Member] | |||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 22% | ||||||||||||||||||||||||
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] | Revolving Notes Series B [Member] | AAFK [Member] | |||||||||||||||||||||||||
Long-Term Debt, Total | $ 48,900,000 | ||||||||||||||||||||||||
Debt Issuance Costs, Net | $ 500,000 | ||||||||||||||||||||||||
Third Eye Capital [Member] | Revolving Notes Series B [Member] | Prime Rate [Member] | |||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 22% | ||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 13.75% | ||||||||||||||||||||||||
Third Eye Capital [Member] | Reserve Liquidity Facility [Member] | |||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 30% | ||||||||||||||||||||||||
Line of Credit Facility, Current Borrowing Capacity | $ 50,000,000 | ||||||||||||||||||||||||
Long-Term Debt, Total | $ 0 | ||||||||||||||||||||||||
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% | ||||||||||||||||||||||||
Revenue Participation Term Notes [Member] | Third Eye Capital [Member] | AAFK [Member] | |||||||||||||||||||||||||
Long-Term Debt, Total | $ 12,100,000 | ||||||||||||||||||||||||
Debt Issuance Costs, Net | 130,000 | ||||||||||||||||||||||||
Amendment No. 22 [Member] | Third Eye Capital [Member] | |||||||||||||||||||||||||
Debt Instrument, Fee Amount | $ 100,000 | ||||||||||||||||||||||||
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] | |||||||||||||||||||||||||
Debt Instrument, Fee Amount | $ 100,000 | ||||||||||||||||||||||||
Amendment No. 26 [Member] | Third Eye Capital [Member] | |||||||||||||||||||||||||
Debt Instrument, Fee Amount | $ 100,000 | ||||||||||||||||||||||||
Debt Instrument, Minimum Production Requirement (Gigaton) | GT | 10 | ||||||||||||||||||||||||
Amendment No. 27 [Member] | Third Eye Capital [Member] | |||||||||||||||||||||||||
Debt Instrument, Fee Amount | $ 500,000 | ||||||||||||||||||||||||
Debt Instrument, Extension Fee, Percent of Note Indebtedness | 1% | ||||||||||||||||||||||||
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 | ||||||||||||||||||||||||
Debt Instrument, Non-refundable Standby Fee, Percent of Difference Between Principal Amount and the Commitment | 2% | ||||||||||||||||||||||||
Non Refundable Fees | $ 500,000 | ||||||||||||||||||||||||
Line of Credit Facility, Current Borrowing Capacity | $ 50,000,000 | $ 40,000,000 | |||||||||||||||||||||||
Reserve Liquidity Facility Paid Monthly in Arrears [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% | ||||||||||||||||||||||||
Term Notes [Member] | Third Eye Capital [Member] | |||||||||||||||||||||||||
Long-Term Debt, Total | 7,200,000 | ||||||||||||||||||||||||
Debt Issuance Costs, Net | $ 58,000 | ||||||||||||||||||||||||
Term Notes [Member] | Third Eye Capital [Member] | |||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 14% | ||||||||||||||||||||||||
Debt Instrument, Fee, Percentage of Carrying Value of the Debt | 1% | ||||||||||||||||||||||||
Debt Instrument, Fee, Amount Allowed to be Paid in Cash, Percent | 50% | ||||||||||||||||||||||||
Debt Instrument, Fee Amount, Percent if Paid Through Common Stock of Extension Fee | 110% | ||||||||||||||||||||||||
Debt Instrument, Fee, Amount Allowed to be Added to Debt Outstanding, Percent | 50% | ||||||||||||||||||||||||
Acquisition Term Notes [Member] | Third Eye Capital [Member] | Aemetis Facility Keyes, Inc. [Member] | |||||||||||||||||||||||||
Long-Term Debt, Total | $ 26,900,000 | ||||||||||||||||||||||||
Debt Issuance Costs, Net | 260,000 | ||||||||||||||||||||||||
Debt Instrument, Redemption Fee | $ 7,500,000 | ||||||||||||||||||||||||
Acquisition Term Notes [Member] | Third Eye Capital [Member] | Prime Rate [Member] | |||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 19% | 10.75% | |||||||||||||||||||||||
Fuels Revolving Line [Member] | GAFI [Member] | |||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10% | ||||||||||||||||||||||||
Long-Term Debt, Total | $ 25,000,000 | ||||||||||||||||||||||||
Debt Issuance Costs, Net | 1,800,000 | ||||||||||||||||||||||||
Short-Term Debt | 8,600,000 | ||||||||||||||||||||||||
Fuels Revolving Line [Member] | Prime Rate [Member] | GAFI [Member] | |||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 6% | ||||||||||||||||||||||||
Carbon Revolving Line [Member] | ACCI [Member] | |||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8% | ||||||||||||||||||||||||
Line of Credit Facility, Current Borrowing Capacity | 0 | ||||||||||||||||||||||||
Long-Term Debt, Total | 24,900,000 | ||||||||||||||||||||||||
Debt Issuance Costs, Net | 2,100,000 | ||||||||||||||||||||||||
Short-Term Debt | 500,000 | ||||||||||||||||||||||||
Carbon Revolving Line [Member] | Prime Rate [Member] | ACCI [Member] | |||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 4% | ||||||||||||||||||||||||
Carbon Revolving Line [Member] | GAFI [Member] | |||||||||||||||||||||||||
Long-Term Debt, Current Maturities | 8,100,000 | ||||||||||||||||||||||||
Cilion Shareholder Seller Notes Payable [Member] | |||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3% | ||||||||||||||||||||||||
Debt, Long-Term and Short-Term, Combined Amount | 6,923,000 | 6,821,000 | |||||||||||||||||||||||
Cilion Shareholder Seller Notes Payable [Member] | Aemetis Facility Keyes, Inc. [Member] | |||||||||||||||||||||||||
Long-Term Debt, Total | 6,900,000 | ||||||||||||||||||||||||
Subordinated Notes [Member] | AAFK [Member] | |||||||||||||||||||||||||
Debt Instrument, Fee Amount | $ 2,500,000 | $ 900,000 | |||||||||||||||||||||||
Short-Term Debt | 16,800,000 | 15,900,000 | |||||||||||||||||||||||
Debt Instrument Fee Rate | 10% | ||||||||||||||||||||||||
Debt Extension Fee, Percentage | 10% | ||||||||||||||||||||||||
Subordinated Notes 1 [Member] | |||||||||||||||||||||||||
Short-Term Debt | 16,765,000 | 15,931,000 | |||||||||||||||||||||||
Subordinated Notes 1 [Member] | AAFK [Member] | |||||||||||||||||||||||||
Debt Instrument, Cash Extension Fee | $ 90,000 | ||||||||||||||||||||||||
Subordinated Notes 2 [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 | 37,500,000 | 37,200,000 | |||||||||||||||||||||||
Debt Instrument, Term (Year) | 4 years | ||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 30 | ||||||||||||||||||||||||
Debt Instrument, Amount Released From Escrow | 35,500,000 | ||||||||||||||||||||||||
Debt Instrument, Amount Remaining Funded to Escrow | 500,000 | ||||||||||||||||||||||||
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 | ||||||||||||||||||||||||
Debt Instrument, Principal Amount Sold | $ 4,000,000 | ||||||||||||||||||||||||
Debt, Long-Term and Short-Term, Combined Amount | 4,300,000 | 4,200,000 | |||||||||||||||||||||||
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 | ||||||||||||||||||||||||
EB5 Phase II Notes [Member] | Minimum [Member] | |||||||||||||||||||||||||
Debt Instrument, Minimum Investment Raised Per Investor | $ 500,000 | ||||||||||||||||||||||||
Secunderabad Oils [Member] | |||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 18% | ||||||||||||||||||||||||
Short-Term Debt | 0 | ||||||||||||||||||||||||
Debt Agreement, Maximum Borrowing Capacity | $ 1,880,000 | ||||||||||||||||||||||||
Leo Edibles & Fats Limited [Member] | |||||||||||||||||||||||||
Debt Agreement, Maximum Borrowing Capacity | $ 1,270,000 | ||||||||||||||||||||||||
IndusInd Bank and HDFC Bank Secured Loans [Member] | |||||||||||||||||||||||||
Short-Term Debt | 660,000 | 0 | |||||||||||||||||||||||
IndusInd Bank and HDFC Bank Secured Loans [Member] | Maximum [Member] | |||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8% | ||||||||||||||||||||||||
IndusInd Bank and HDFC Bank Secured Loans [Member] | Minimum [Member] | |||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||||||||||||||||||||||||
Construction Loan Agreement [Member] | |||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 9% | 5.95% | |||||||||||||||||||||||
Long-Term Debt, Total | 22,700,000 | 20,200,000 | |||||||||||||||||||||||
Debt Issuance Costs, Net | 0 | $ 9,000 | 300,000 | ||||||||||||||||||||||
Short-Term Debt | 22,721,000 | $ 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 | ||||||||||||||||||||||||
Short-Term Debt | 1,200,000 | ||||||||||||||||||||||||
Other Long-Term Debt, Noncurrent | $ 4,600,000 |
Note 4 - Debt- Schedule of Debt
Note 4 - Debt- Schedule of Debt (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Debt, Long-Term and Short-Term, Combined Amount | $ 267,753 | $ 246,240 |
Short-Term Debt | 41,396 | 36,754 |
Less current portion of debt | 62,854 | 49,219 |
Total long term debt | 204,899 | 197,021 |
Third Eye Capital Term Notes [Member] | ||
Debt, Long-Term and Short-Term, Combined Amount | 7,143 | 7,141 |
Third Eye Capital Revolving Credit Facility [Member] | ||
Debt, Long-Term and Short-Term, Combined Amount | 23,711 | 60,602 |
Revolving Notes Series B [Member] | ||
Debt, Long-Term and Short-Term, Combined Amount | 48,401 | |
Third Eye Capital Revenue Participation Term Notes [Member] | ||
Debt, Long-Term and Short-Term, Combined Amount | 11,961 | 11,963 |
Third Eye Capital Acquisition Term Notes [Member] | ||
Debt, Long-Term and Short-Term, Combined Amount | 26,569 | 26,578 |
Third Eye Capital Fuels Revolving Line [Member] | ||
Debt, Long-Term and Short-Term, Combined Amount | 31,880 | 27,410 |
Third Eye Capital Carbon Revolving Line [Member] | ||
Debt, Long-Term and Short-Term, Combined Amount | 23,359 | 22,710 |
Construction Loan Agreement [Member] | ||
Short-Term Debt | 22,721 | 19,820 |
Cilion Shareholder Seller Notes Payable [Member] | ||
Debt, Long-Term and Short-Term, Combined Amount | 6,923 | 6,821 |
Subordinated Notes 1 [Member] | ||
Short-Term Debt | 16,765 | 15,931 |
EB-5 Promissory Notes [Member] | ||
Debt, Long-Term and Short-Term, Combined Amount | 41,806 | 41,404 |
Term Loan On Equipment Purchase [Member] | ||
Debt, Long-Term and Short-Term, Combined Amount | 5,854 | 5,860 |
IndusInd Bank and HDFC Bank Secured Loans [Member] | ||
Short-Term Debt | $ 660 | $ 0 |
Note 4 - Debt - Maturities of L
Note 4 - Debt - Maturities of Long-term Debt (Details) $ in Thousands | Jun. 30, 2023 USD ($) |
2024 | $ 62,854 |
2025 | 176,070 |
2026 | 28,894 |
2027 | 3,989 |
2028 | 1,400 |
Thereafter | 649 |
Total debt | 273,856 |
Debt issuance costs | (6,103) |
Total debt, net of debt issuance costs | $ 267,753 |
Note 5 - Commitments and Cont_3
Note 5 - Commitments and Contingencies (Details Textual) | 6 Months Ended |
Jun. 30, 2023 | |
Minimum [Member] | |
Lease Term (Year) | 2 years |
Maximum [Member] | |
Lease Term (Year) | 14 years |
Note 5 - Commitments and Cont_4
Note 5 - Commitments and Contingencies - Lease Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Operating lease expense | $ 181 | $ 159 | $ 362 | $ 347 |
Short term lease expense | 21 | 75 | 42 | 102 |
Variable lease expense | 22 | 23 | 44 | 46 |
Total operating lease cost | 224 | 257 | 448 | 495 |
Amortization of right-of-use assets | 30 | 28 | 61 | 89 |
Interest on lease liabilities | 82 | 99 | 173 | 119 |
Total finance lease cost | 112 | 127 | 234 | 208 |
Operating cash flows used in operating leases | 166 | 174 | 330 | 338 |
Operating cash flows used in finance leases | 82 | 99 | 173 | 118 |
Financing cash flows used in finance leases | $ 228 | $ 50 | $ 311 | $ 182 |
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 | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Accretion of the lease liability | $ 84 | $ 85 | $ 171 | $ 179 |
Amortization of right-of-use assets | $ 97 | $ 74 | $ 191 | $ 168 |
Operating leases (in years) (Year) | 4 years 8 months 12 days | 4 years 8 months 12 days | ||
Finance leases (in years) (Year) | 13 years 6 months | 13 years 6 months | ||
Operating leases | 14.10% | 14.10% | ||
Finance leases | 13.20% | 13.20% |
Note 5 - Commitments and Cont_6
Note 5 - Commitments and Contingencies - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Operating lease right-of-use assets | $ 2,258 | $ 2,449 |
Current portion of operating lease liability | 372 | 338 |
Operating lease liability | 1,995 | 2,189 |
Total operating lease liabilities | 2,367 | 2,527 |
Total finance lease liabilities | 2,667 | |
Property, Plant and Equipment [Member] | ||
Property and equipment, at cost | 2,889 | 3,045 |
Accumulated depreciation | (168) | (112) |
Property and equipment, net | 2,721 | 2,933 |
Other Current Liabilities [Member] | ||
Other current liability | (57) | 71 |
Other Noncurrent Liabilities [Member] | ||
Other long term liabilities | 2,724 | 2,911 |
Other Liabilities [Member] | ||
Total finance lease liabilities | $ 2,667 | $ 2,982 |
Note 5 - Commitments and Cont_7
Note 5 - Commitments and Contingencies - Maturities of Leases (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
2024, Operating leases | $ 676 | |
2024, Finance leases | 279 | |
2025, Operating leases | 675 | |
2025, Finance leases | 179 | |
2026, Operating leases | 659 | |
2026, Finance leases | 151 | |
2027, Operating leases | 636 | |
2027, Finance leases | 145 | |
2028, Operating leases | 599 | |
2028, Finance leases | 145 | |
Thereafter, Operating leases | 0 | |
Thereafter, Finance leases | 10,105 | |
Total lease payments, Operating leases | 3,245 | |
Total lease payments, Finance leases | 11,004 | |
Less imputed interest, Operating leases | (878) | |
Less imputed interest, Finance leases | (8,337) | |
Total operating lease liabilities | 2,367 | $ 2,527 |
Total finance lease liabilities | $ 2,667 |
Note 5 - Commitments and Cont_8
Note 5 - Commitments and Contingencies - Lease Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Lease income | $ 484 | $ 375 | $ 953 | $ 375 |
Note 5 - Commitments and Cont_9
Note 5 - Commitments and Contingencies - Future Minimum Lease Payments (Details) $ in Thousands | Jun. 30, 2023 USD ($) |
2024 | $ 846 |
2025 | 748 |
2026 | 621 |
2027 | 474 |
2028 | 474 |
Thereafter | 829 |
Total future lease commitments | $ 3,992 |
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 Millions | 6 Months Ended | 12 Months Ended | 15 Months Ended | |||||
Aug. 31, 2023 | May 31, 2023 | Jan. 01, 2023 | Aug. 08, 2022 | Dec. 20, 2018 | Jun. 30, 2023 | Dec. 31, 2022 | Aug. 31, 2024 | |
Series A Preferred Units Value | $ 129.7 | $ 116 | ||||||
Total Assets of ABGL Company | $ 79 | |||||||
Carbon Revolving Line [Member] | ||||||||
Repayments of Debt | $ 7.3 | |||||||
Extinguishment of Debt, Gain (Loss), Net of Tax | (49.4) | |||||||
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 | |||||||
Fees and Commission Transfer Agent | 0.9 | |||||||
Debt Instrument, Collateral Amount | $ 30,000 | |||||||
Preferred Units Series A [Member] | First Tranche [Member] | ||||||||
Preferred Units, Issued (in shares) | 3,200,000 | |||||||
Preferred Units Issued Value | $ 16 | |||||||
Preferred Units Series A [Member] | Second Tranche [Member | ||||||||
Preferred Units, Issued (in shares) | 2,800,000 | |||||||
Preferred Units Issued Value | $ 14 | |||||||
Stock Redeemed or Called During Period, Shares (in shares) | 20,000 | |||||||
Preferred Units Redeemed, Value | $ 0.3 | |||||||
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 | |||||||
Preferred Units Reserved for Future Issuance (in shares) | 5,000,000 | |||||||
PUPA Second Amendment [Member] | ||||||||
Preferred Units Issued Value | $ 159 | 116 | ||||||
PUPA Second Amendment [Member] | ABGL [Member] | ||||||||
Preferred Units Issued Value | $ 125 | $ 106 | ||||||
PUPA Third Amendment [Member] | ||||||||
Preferred Units Issued Value | $ 127.2 | $ 171.7 | ||||||
PUPA Third Amendment [Member] | ABGL [Member] | Forecast [Member] | ||||||||
Preferred Units Issued Value | $ 135 |
Note 7 - Stock-Based Compensa_3
Note 7 - Stock-Based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions | 6 Months Ended | ||
Apr. 29, 2019 | Jun. 30, 2023 | Jun. 30, 2022 | |
The 2019 Stock Plan [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 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, Vested, Number of Shares (in shares) | 3,600,000 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 1,178,000 | 900,000 | |
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 10.7 | ||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 10 months 24 days | ||
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) | 243,850 | 60,300 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 3.75 | $ 11.31 | |
Amended and Restated 2007 Stock Plan [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 177,246 |
Note 7 - Stock-Based Compensa_4
Note 7 - Stock-Based Compensation - Schedule of Share-Based Payment Award (Details) - The 2019 Stock Plan [Member] - $ / shares | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Balance, Shares Available for Grant (in shares) | 165,000 | |
Balance, outstanding (in shares) | 4,694,000 | |
Balance, Weighted-Average Exercise Price (in dollars per share) | $ 4.63 | |
Authorized, shares (in shares) | 1,435,000 | |
Options Granted, shares (in shares) | (1,178,000) | (900,000) |
Options Granted, shares (in shares) | 1,178,000 | 900,000 |
Options Granted, Weighted-Average Exercise Price (in dollars per share) | $ 3.75 | |
Exercised, outstanding (in shares) | (106,000) | |
Exercised, Weighted-Average Exercise Price (in dollars per share) | $ 1.75 | |
Forfeited/expired, shares available (in shares) | 164,000 | |
Forfeited/expired, outstanding (in shares) | (164,000) | |
Forfeited/expired, Weighted-Average Exercise Price (in dollars per share) | $ 5.26 | |
Balance, Shares Available for Grant (in shares) | 342,000 | |
Balance, outstanding (in shares) | 5,602,000 | |
Balance, Weighted-Average Exercise Price (in dollars per share) | $ 4.48 | |
Restricted Stock [Member] | ||
RSAs Granted, shares (in shares) | (243,850) | (60,300) |
Note 7 - Stock-Based Compensa_5
Note 7 - Stock-Based Compensation - Fair Value Assumptions (Details) - The 2019 Stock Plan [Member] - $ / shares | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Dividend-yield | 0% | 0% |
Risk-free interest rate | 3.82% | 1.66% |
Expected volatility | 125.32% | 113.45% |
Expected life (years) (Year) | 7 years | 7 years |
Market value per share on grant date (in dollars per share) | $ 3.75 | $ 11.31 |
Fair value per option on grant date (in dollars per share) | $ 3.43 | $ 9.89 |
Note 8 - Outstanding Warrants_2
Note 8 - Outstanding Warrants (Details Textual) - $ / shares | Jun. 30, 2023 | Dec. 31, 2022 |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 11.78 | $ 15.92 |
Warrants and Rights Outstanding, Term (Year) | 6 years 4 months 24 days | 7 years 5 months 23 days |
Warrants to Purchase Common Stock [Member] | ||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 100,000 | |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 2.50 | |
Warrants and Rights Outstanding, Term (Year) | 2 years | |
Stock Issued During Period, Warrants Exercised (in shares) | 62,293 | |
Warrants to Purchase Common Stock [Member] | Senior Leaders [Member] | ||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 160,000 | |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 2 |
Note 8 - Outstanding Warrants -
Note 8 - Outstanding Warrants - Fair Value Assumptions (Details) | Jun. 30, 2023 $ / shares yr | Jun. 30, 2022 $ / 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 | 0.0376 | 0.0175 |
Measurement Input, Price Volatility [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 1.2150 | 1.5141 |
Measurement Input, Expected Term [Member] | ||
Warrants and Rights Outstanding, Measurement Input | yr | 5.43 | 3.47 |
Measurement Input, Exercise Price [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 1.53 | 10.47 |
Measurement Input, Share Price [Member] | ||
Warrants and Rights Outstanding, Measurement Input | $ / shares | 3.14 | 11.29 |
Fair Value per Warrant on Grant Date [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 2.95 | 9.68 |
Note 8 - Outstanding Warrants_3
Note 8 - Outstanding Warrants - Schedule of Warrants or Rights (Details) - $ / shares shares in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | |
Outstanding, warrants (in shares) | 355 | |
Outstanding, Weighted - Average Exercise Price (in dollars per share) | $ 15.92 | |
Outstanding, Average Remaining Term in Years (Year) | 6 years 4 months 24 days | 7 years 5 months 23 days |
Granted, warrants (in shares) | 373 | |
Granted, Weighted - Average Exercise Price (in dollars per share) | $ 1.53 | |
Exercised, warrants (in shares) | (223) | |
Exercised, Weighted - Average Exercise Price (in dollars per share) | $ 1.24 | |
Outstanding, warrants (in shares) | 505 | |
Outstanding, Weighted - Average Exercise Price (in dollars per share) | $ 11.78 |
Note 9 - Agreements (Details Te
Note 9 - Agreements (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Jul. 01, 2022 | |
Prepaid Expense, Current | $ 1,212 | $ 1,212 | $ 4,248 | |||
Marketing Expense | 200 | $ 800 | 200 | $ 1,500 | ||
Forward Sales Commitments [Member] | ||||||
Other Commitment | 0 | 0 | 0 | 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 | 200 | 200 | 0 | |||
J.D. Heiskell [Member] | ||||||
Prepaid Expense, Current | 0 | 0 | 2,400 | |||
Accounts Receivable, after Allowance for Credit Loss, Current | 739 | $ 232 | 739 | $ 232 | ||
Murex [Member] | ||||||
Accounts Receivable, after Allowance for Credit Loss, Current | $ 0 | $ 0 | $ 600 |
Note 9 - Agreements - Schedule
Note 9 - Agreements - Schedule of Working Capital Agreement Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Revenues | $ 45,112 | $ 65,901 | $ 47,263 | $ 117,950 | |
Accounts payable | 30,306 | 30,306 | $ 26,168 | ||
J.D. Heiskell [Member] | |||||
Accounts receivable | 739 | 232 | 739 | 232 | |
Accounts payable | 39 | 612 | 39 | 612 | |
Working Capital | 1,264 | 0 | 1,264 | 0 | |
Ethanol Sales [Member] | J.D. Heiskell [Member] | |||||
Revenues | 8,647 | 0 | 8,647 | 0 | |
Wet Distiller's Grains Sales [Member] | J.D. Heiskell [Member] | |||||
Revenues | 2,553 | 15,150 | 2,553 | 26,666 | |
Corn Oil Sales [Member] | J.D. Heiskell [Member] | |||||
Revenues | 89 | 2,812 | 125 | 5,150 | |
CDS Sales [Member] | J.D. Heiskell [Member] | |||||
Revenues | 11 | 0 | 11 | 0 | |
Corn Purchases [Member] | J.D. Heiskell [Member] | |||||
Corn purchases | $ 11,611 | $ 54,352 | $ 11,913 | $ 98,362 |
Note 10 - Segment Information_2
Note 10 - Segment Information (Details Textual) gal in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 gal | Jun. 30, 2022 | |
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 | |||
California Ethanol [Member] | Customer Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Ethanol Sales [Member] | Customer One [Member] | ||||
Concentration Risk, Percentage | 100% | |||
California Ethanol [Member] | Customer Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Ethanol Sales, Wet Distillers Grain and Corn Oil Sales [Member] | ||||
Number of Major Customers | 2 | 1 | 2 | |
California Ethanol [Member] | Customer Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Ethanol Sales, Wet Distillers Grain and Corn Oil Sales [Member] | Customer One [Member] | ||||
Concentration Risk, Percentage | 72% | 96% | 72% | |
California Ethanol [Member] | Customer Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Ethanol Sales, Wet Distillers Grain and Corn Oil Sales [Member] | Customer Two [Member] | ||||
Concentration Risk, Percentage | 27% | |||
India Biodiesel [Member] | ||||
GallonPerYear (Gallon) | 50 | |||
India Biodiesel [Member] | Customer Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Biodiesel Sales [Member] | Customer One [Member] | ||||
Concentration Risk, Percentage | 49% | 47% | ||
India Biodiesel [Member] | Customer Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Biodiesel Sales [Member] | Customer Two [Member] | ||||
Concentration Risk, Percentage | 28% | 27% | ||
India Biodiesel [Member] | Customer Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Biodiesel Sales [Member] | Customer Three [Member] | ||||
Concentration Risk, Percentage | 21% | 20% | ||
Dairy Renewable Natural Gas [Member] | Customer Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Sales of Biogas [Member] | ||||
Number of Major Customers | 1 | 1 | ||
Dairy Renewable Natural Gas [Member] | Customer Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Sales of Biogas [Member] | Customer One [Member] | ||||
Concentration Risk, Percentage | 100% | 100% |
Note 10 - Segment Information -
Note 10 - Segment Information - Schedule of Segment Reporting Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Revenues | $ 45,112 | $ 65,901 | $ 47,263 | $ 117,950 |
Gross loss | 1,956 | (214) | 661 | (3,299) |
Interest expense including amortization of debt fees | 9,629 | 6,668 | 18,676 | 12,929 |
Accretion and other expenses of Series A preferred units | 6,885 | 1,506 | 12,449 | 3,146 |
Capital expenditures | 2,192 | 13,059 | 9,808 | 22,518 |
Depreciation | 1,671 | 1,325 | 3,461 | 2,661 |
Operating Segments [Member] | ||||
Revenues | 45,112 | 66,198 | 47,263 | 118,582 |
Gross loss | (214) | |||
Intersegment Eliminations [Member] | ||||
Revenues | 0 | 297 | 0 | 632 |
California Ethanol [Member] | ||||
Revenues | 11,332 | 11,807 | ||
Gross loss | (2,322) | (2,334) | ||
Interest expense including amortization of debt fees | 6,252 | 11,770 | ||
Accretion and other expenses of Series A preferred units | 0 | 0 | ||
Capital expenditures | 726 | 1,060 | ||
Depreciation | 960 | 2,069 | ||
California Ethanol [Member] | Operating Segments [Member] | ||||
Revenues | 65,891 | 117,932 | ||
Gross loss | (152) | (3,032) | ||
Interest expense including amortization of debt fees | 4,869 | 10,514 | ||
Accretion and other expenses of Series A preferred units | 0 | 0 | ||
Capital expenditures | 5,366 | 7,169 | ||
Depreciation | 977 | 1,988 | ||
California Ethanol [Member] | Intersegment Eliminations [Member] | ||||
Revenues | 0 | 0 | ||
Dairy Renewable Natural Gas [Member] | ||||
Revenues | 210 | 416 | ||
Gross loss | (1,064) | (1,837) | ||
Interest expense including amortization of debt fees | 517 | 1,221 | ||
Accretion and other expenses of Series A preferred units | 6,885 | 12,449 | ||
Capital expenditures | 1,304 | 7,803 | ||
Depreciation | 523 | 980 | ||
Dairy Renewable Natural Gas [Member] | Operating Segments [Member] | ||||
Revenues | 0 | 0 | ||
Gross loss | (68) | (275) | ||
Interest expense including amortization of debt fees | 7 | 11 | ||
Accretion and other expenses of Series A preferred units | 1,506 | 3,146 | ||
Capital expenditures | 6,696 | 12,145 | ||
Depreciation | 154 | 300 | ||
Dairy Renewable Natural Gas [Member] | Intersegment Eliminations [Member] | ||||
Revenues | 297 | 632 | ||
India Biodiesel [Member] | ||||
Revenues | 33,570 | 35,040 | ||
Gross loss | 5,342 | 4,832 | ||
Interest expense including amortization of debt fees | 225 | 294 | ||
Accretion and other expenses of Series A preferred units | 0 | 0 | ||
Capital expenditures | 115 | 151 | ||
Depreciation | 157 | 312 | ||
India Biodiesel [Member] | Operating Segments [Member] | ||||
Revenues | 10 | 18 | ||
Gross loss | 10 | 18 | ||
Interest expense including amortization of debt fees | 0 | 0 | ||
Accretion and other expenses of Series A preferred units | 0 | 0 | ||
Capital expenditures | 69 | 136 | ||
Depreciation | 164 | 332 | ||
India Biodiesel [Member] | Intersegment Eliminations [Member] | ||||
Revenues | 0 | 0 | ||
Other Segments [Member] | ||||
Revenues | 0 | 0 | ||
Gross loss | 0 | 0 | ||
Interest expense including amortization of debt fees | 2,635 | 5,391 | ||
Accretion and other expenses of Series A preferred units | 0 | 0 | ||
Capital expenditures | 47 | 794 | ||
Depreciation | $ 31 | $ 100 | ||
Other Segments [Member] | Operating Segments [Member] | ||||
Revenues | 0 | 0 | ||
Gross loss | (4) | (10) | ||
Interest expense including amortization of debt fees | 1,792 | 2,404 | ||
Accretion and other expenses of Series A preferred units | 0 | 0 | ||
Capital expenditures | 928 | 3,068 | ||
Depreciation | 30 | 41 | ||
Other Segments [Member] | Intersegment Eliminations [Member] | ||||
Revenues | $ 0 | $ 0 |
Note 10 - Segment Information_3
Note 10 - Segment Information - Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Revenues | $ 45,112 | $ 65,901 | $ 47,263 | $ 117,950 |
Revenues | (45,112) | (65,901) | (47,263) | (117,950) |
Operating Segments [Member] | ||||
Revenues | 45,112 | 66,198 | 47,263 | 118,582 |
Revenues | (45,112) | (66,198) | (47,263) | (118,582) |
Intersegment Eliminations [Member] | ||||
Revenues | 0 | 297 | 0 | 632 |
Revenues | $ 0 | $ (297) | $ 0 | $ (632) |
Note 10 - Segment Information_4
Note 10 - Segment Information - Reconciliation of Assets from Segments (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Assets | $ 212,585 | $ 207,114 |
California Ethanol [Member] | ||
Assets | 64,757 | 66,794 |
Dairy Renewable Natural Gas [Member] | ||
Assets | 76,302 | 77,714 |
India Biodiesel [Member] | ||
Assets | 22,751 | 16,120 |
Other Segments [Member] | ||
Assets | $ 48,775 | $ 46,486 |
Note 11 - Related Party Trans_2
Note 11 - Related Party Transactions (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jan. 12, 2022 | Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Prepaid Expense, Current | $ 1,212 | $ 1,212 | $ 4,248 | ||||
Mr. McAfee [Member] | |||||||
Stock Issued During Period, Shares, Issued for Services (in shares) | 180,000 | ||||||
Accrued Liabilities, Current | 200 | 200 | |||||
Various Board Members [Member] | |||||||
Share-Based Payment Arrangement, Expense | 100 | $ 100 | 200 | $ 200 | |||
Employment Agreements and Expense Reimbursements [Member] | Mr. McAfee [Member] | |||||||
Related Party Transaction, Amounts of Transaction | 400 | ||||||
Prepayments [Member] | Mr. McAfee [Member] | |||||||
Related Party Transaction, Amounts of Transaction | 200 | ||||||
Prepaid Expense, Current | $ 100 | 100 | |||||
One-time Guarantee Fee [Member] | Mr. McAfee [Member] | |||||||
Related Party Transaction, Amounts of Transaction | $ 2,000 | $ 400 | |||||
Board Compensation Fees [Member] | Various Board Members [Member] | |||||||
Related Party Transaction, Amounts of Transaction | $ 400 | $ 300 |
Note 12 - Subsequent Events (De
Note 12 - Subsequent Events (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 6 Months Ended | |||||||
Aug. 01, 2023 | Jul. 01, 2023 | Jan. 01, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | Jul. 28, 2023 | Dec. 31, 2022 | Jan. 09, 2012 | |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 11.78 | $ 15.92 | ||||||
Proceeds from Issuance of Debt | $ 21,627 | $ 30,622 | ||||||
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 | $ 0.01 | ||||||
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 Rate | 10% | |||||||
Subordinated Notes [Member] | Subsequent Event [Member] | ||||||||
Equity Financing | $ 25,000 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.75% | |||||||
Subordinated Notes [Member] | Subsequent Event [Member] | AAFK [Member] | ||||||||
Debt Instrument Fee Rate | 10% | |||||||
Third Eye Capital Revolving Credit Facility [Member] | Subsequent Event [Member] | ||||||||
Proceeds from Issuance of Debt | $ 2,300 | |||||||
Payments of Debt Waiver Fee | $ 100 |