Aemetis (AMTX) 10-K 29 Mar 18 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2017	Mar. 15, 2018	Jun. 30, 2017
Document And Entity Information
Entity Registrant Name	AEMETIS, INC.
Entity Central Index Key	738,214
Document Type	10-K
Document Period End Date	Dec. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 16,715,351
Entity Common Stock, Shares Outstanding		20,222,890
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,017

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 428	$ 1,486
Accounts receivable	2,219	1,557
Inventories	5,737	3,241
Prepaid expenses	2,435	555
Other current assets	643	206
Total current assets	11,462	7,045
Property, plant and equipment, net	78,837	66,370
Other assets	4,032	4,395
Total assets	94,331	77,810
Current liabilities:
Accounts payable	10,457	7,842
Current portion of long term debt	2,039	2,027
Short term borrowings	13,586	9,382
Mandatorily redeemable Series B convertible preferred stock	2,946	2,844
Accrued property taxes	3,677	2,648
Other current liabilities	3,311	2,473
Total current liabilities	36,016	27,216
Long term liabilities:
Senior secured notes	73,986	61,631
EB-5 notes	34,000	33,000
GAFI secured and revolving notes	24,351	0
Long term subordinated debt	5,824	5,674
Other longterm liabilities	15	102
Total long term liabilities	138,176	100,407
Stockholders' deficit:
Series B convertible preferred stock, $0.001 par value; 7,235 authorized; 1,323 and 1,328 shares issued and outstanding each period, respectively (aggregate liquidation preference of $3,969 and $3,984 respectively)	1	1
Common stock, $0.001 par value; 40,000 authorized; 20,088 and 19,858 shares issued and outstanding, respectively	20	20
Additional paid-in capital	84,679	83,441
Accumulated deficit	(160,188)	(129,887)
Accumulated other comprehensive loss	(2,904)	(3,388)
Total stockholders' deficit attributable to Aemetis, Inc.	(78,392)	(49,813)
Non-controlling interest - GAFI	(1,469)	0
Total stockholders' deficit	(79,861)	(49,813)
Total liabilities and stockholders' deficit	$ 94,331	$ 77,810

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Series B Preferred stock, par value	$ .001	$ 0.001
Series B Preferred stock, authorized	7,235	7,235
Series B Preferred stock, shares issued	1,323	1,328
Series B Preferred stock, shares outstanding	1,323	1,328
Aggregate Liquidation Preference	$ 3,969	$ 3,984
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	40,000	40,000
Common stock, shares issued	2,088	19,858
Common stock, shares outstanding	2,088	19,858

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
Revenues	$ 150,157	$ 143,158
Cost of goods sold	146,782	131,559
Gross profit	3,375	11,599
Research and development expenses	2,367	369
Selling, general and administrative expenses	13,191	12,011
Operating loss	(12,183)	(781)
Other income (expense)
Interest rate expense	13,906	11,493
Amortization expense	5,398	5,723
Gain on debt extinguishment	0	(2,033)
Other income (expense)	277	(334)
Loss before income taxes	(31,764)	(15,630)
Income tax expense	6	6
Net loss	(31,770)	(15,636)
Less: Net loss attributable to non-controlling interest	(1,469)	0
Net loss attributable to Aemetis, Inc.	(30,301)	(15,636)
Other comprehensive income (loss)
Foreign currency translation gain (loss)	484	(209)
Comprehensive loss	$ (31,286)	$ (15,845)
Net loss per common share attributable to Aemetis, Inc.
Basic	$ (1.53)	$ (0.79)
Diluted	$ (1.53)	$ (0.79)
Weighted average shares outstanding
Basic	19,833	19,771
Diluted	19,833	19,771

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Operating activities:
Net loss	$ (31,770)	$ (15,636)
Adjustments to reconcile net loss to net cash provided by (used in) operating activitites:
Share-based compensation	1,101	747
Stock issued for services	118	0
Depreciation	4,622	4,670
Debt related amortization expense	5,399	5,723
Intangibles and other amortization expense	392	126
Change in fair value of warrant liability	0	(25)
Gain on extinguishment of debt	0	(2,033)
Loss on sale/disposal of assets	0	11
Changes in operating assets and liabilities:
Accounts receivable	(1,015)	(403)
Inventories	(2,370)	1,504
Prepaid expenses	371	(28)
Other current assets and other assets	(425)	890
Accounts payable	2,580	(2,097)
Accrued interest expense and fees, net of payments	10,812	6,448
Other liabilities	1,497	474
Net cash provided by (used in) operating activities	(8,688)	371
Investing activities:
Capital expenditures	(1,116)	(629)
Net cash used in investing activities	(1,116)	(629)
Financing activities:
Proceeds from borrowings	14,798	20,583
Repayments of borrowings	(10,037)	(18,956)
GAFI proceeds from borrowings	3,614	0
Net cash provided by financing activities	8,375	1,627
Effect of exchange rate changes on cash and cash equivalents	371	(166)
Net cash and cash equivalents increase (decrease) for period	(1,058)	1,203
Cash and cash equivalents at beginning of period	1,486	283
Cash and cash equivalents at end of period	428	1,486
Supplemental disclosures of cash flow information, cash paid:
Interest paid	3,092	4,894
Income taxes paid	6	6
Supplemental disclosures of cash flow information, non-cash transactions:
Subordinated debt extension fees added to debt	680	680
Fair value of warrants issued to subordinated debt holders	321	579
Repurchase of common stock added to TEC promissory note	451	0
Senior debt extension and waiver fees added to debt	4,446	4,940
TEC promissory note fees and fees for Goodland transaction	1,169	0
Settlement of accounts payable through transfer of equipment	0	66
Settlement of subordinated debt through issuing stock	132	0
GAFI plant, property & equipment acquired with debt	15,431	0
Payment of TEC bridge loan added to GAFI Revolving loan	3,669	0
Debt exchanged for prepaid interest on GAFI Term loan	$ 2,250	$ 0

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY - USD ($) $ in Thousands	Series B Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss	Non-Controlling Interest	Total
Beginning Balance - Shares at Dec. 31, 2015	1,398	19,619
Beginning Balance - Amount at Dec. 31, 2015	$ 1	$ 20	$ 82,115	$ (114,251)	$ (3,179)	$ 0	$ (35,294)
Conversion of Series B preferred to common stock, Shares	(70)	7
Stock-based compensation			747				747
Issuance and exercise of warrants, Shares		232
Issuance and exercise of warrants, Amount			579				579
Other comprehensive income (loss)					(209)		(209)
Net loss				(15,636)			(15,636)
Ending Balance, Shares at Dec. 31, 2016	1,328	19,858
Ending Balance, Amount at Dec. 31, 2016	$ 1	$ 20	83,441	(129,887)	(3,388)	0	(49,813)
Conversion of Series B preferred to common stock, Shares	(5)
Stock-based compensation			1,101				1,101
Shares issued to consultants and other services, Shares		100
Shares issued to consultants and other services, Amount			118				118
Issuance and exercise of warrants, Shares		240
Issuance and exercise of warrants, Amount			338				338
Repurchase of common stock, Shares		(275)
Repurchase of common stock, Amount			(451)				(451)
Issuance of shares for interest and note extinguishment, Shares		165
Issuance of shares for interest and note extinguishment, Amount			132				132
Other comprehensive income (loss)					484		484
Net loss				(30,301)		(1,469)	(31,770)
Ending Balance, Shares at Dec. 31, 2017	1,323	20,088
Ending Balance, Amount at Dec. 31, 2017	$ 1	$ 20	$ 84,679	$ (160,188)	$ (2,904)	$ (1,469)	$ (79,861)

1. Nature of Activities and Sum

1. Nature of Activities and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Nature of Activities and Summary of Significant Accounting Policies	Nature of Activities ● Aemetis Americas, Inc., a Nevada corporation, and its subsidiary AE Biofuels, Inc., a Delaware corporation; ● Biofuels Marketing, Inc., a Delaware corporation; ● Aemetis International, Inc., a Nevada corporation, and its subsidiary International Biofuels, Ltd., a Mauritius corporation, and its subsidiary Universal Biofuels Private, Ltd., an India company; ● Aemetis Technologies, Inc., a Delaware corporation; ● Aemetis Biochemicals, Inc., a Nevada corporation; ● Aemetis Biofuels, Inc., a Delaware corporation, and its subsidiary Energy Enzymes, Inc., a Delaware corporation; ● AE Advanced Fuels, Inc., a Delaware corporation, and its subsidiaries Aemetis Advanced Fuels Keyes, Inc., a Delaware corporation, and Aemetis Facility Keyes, Inc., a Delaware corporation; ● Aemetis Advanced Fuels, Inc., a Nevada corporation; ● Aemetis Advanced Products Keyes, Inc., a Delaware corporation; ● Aemetis Property Keyes, Inc., a Delaware corporation; and, ● Aemetis Advanced Biorefinery Keyes, Inc., a Delaware corporation. Headquartered in Cupertino, California, Aemetis is an advanced renewable fuels and biochemicals company focused on the acquisition, development and commercialization of innovative technologies that replace traditional petroleum-based products through the conversion of second-generation ethanol and biodiesel plants into advanced biorefineries. Founded in 2006, we own and operate a 60 million gallon per year ethanol plant in the California Central Valley near Modesto where we manufacture and produce ethanol, wet distillers’ grains (“WDG”), condensed distillers solubles (“CDS”), and distillers’ corn oil (“DCO”). We also own and operate a 50 million gallon per year renewable chemical and advanced fuel production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe. We operate a research and development laboratory and hold a portfolio of patents and related technology licenses for the production of renewable fuels and biochemicals. Basis of Presentation and Consolidation In July 2017, we closed on a transaction with Goodland Advanced Fuels, Inc. (GAFI). GAFI was formed to acquire the partially completed Goodland plant in Goodland, Kansas. GAFI has a sole shareholder with only 1000 shares. GAFI is a VIE since it does not have enough equity to support its own activities. GAFI entered into a Note Purchase Agreement with Third Eye Capital Corporation. GAFI, the Company and its subsidiary AAPK also entered into separate Intercompany Revolving Notes, pursuant to which GAFI may lend a portion of the proceeds of the Revolving Loan incurred under the Note Purchase Agreement. Aemetis, Inc. and AAPK (Guarantors) also agreed to provide certain Limited Guaranty on the Note Purchase Agreement terms and also entered into Option Agreement with GAFI shareholder to purchase all shares of GAFI at $0.01 per share ($10.00). Given acceptance of more risk and direct and indirect benefits received through the Note Purchase Agreement and providing guarantees on repayment of debt of GAFI, Aemetis has the power to direct the activities of GAFI and has future plans to apply cellulosic ethanol technology to the Goodland plant. Upon application of consolidation guidance in ASC 810 Consolidation, we determined that GAFI is a variable interest entity and Aemetis, Inc. is the primary beneficiary. Accordingly, the consolidated financial statements include the accounts of GAFI (see Note 6). All intercompany balances and transactions have been eliminated in consolidation including any transactions between GAFI and Aemetis, Inc. Use of Estimates Revenue Recognition Cost of Goods Sold Shipping and Handling Costs Research and Development. Cash and Cash Equivalents Accounts Receivable. 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 including 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 receivable 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 be required. We did not reserve any balance for allowance for doubtful accounts in the years ended December 31, 2017 and 2016. Inventories Property, Plant and Equipment The Company evaluates the recoverability of long-lived assets with finite lives in accordance with ASC Subtopic 360-10-35 Property Plant and Equipment –Subsequent Measurements, Income Taxes. Income Taxes ASC 740 provides for recognition of deferred tax assets if the realization of such assets is more likely than not to occur. Otherwise, a valuation allowance is established for the deferred tax assets, which may not be realized. As of December 31, 2017 and 2016, the Company recorded a full valuation allowance against its net deferred tax assets due to operating losses incurred since inception. Realization of deferred tax assets is dependent upon future earnings, if any, the timing and amount of which are uncertain. Accordingly, the net deferred tax assets were fully offset by a valuation allowance. The Company is subject to income tax audits by the respective tax authorities in all of the jurisdictions in which it operates. The determination of tax liabilities in each of these jurisdictions requires the interpretation and application of complex and sometimes uncertain tax laws and regulations. The recognition and measurement of current taxes payable or refundable and deferred tax assets and liabilities requires that the Company make certain estimates and judgments. Changes to these estimates or a change in judgment may have a material impact on the Company’s tax provision in a future period. 2017 U.S. Tax Cuts and Jobs Act On December 22, 2017, the United States enacted tax reform legislation through the Tax Cuts and Jobs Act (the “Tax Act”), which significantly changes the existing U.S. tax laws, including, but not limited to, (1) a reduction in the corporate federal tax rate from 35% to 21%, (2) requiring companies to pay a one-time transition tax on certain un-repatriated earnings of foreign subsidiaries, (3) a move from a worldwide tax system to a territorial system, (4) eliminating the corporate alternative minimum tax (AMT) and changing how existing AMT credits can be realized, (5) bonus depreciation that will allow for full expensing of qualified property, (6) creating a new limitation on deductible interest expense and (7) changing rules related to uses and limitations of net operating loss carryforwards created in tax years beginning after December 31, 2017. The SEC staff issued Staff Accounting Bulletin (“SAB 118”), which provides guidance on accounting for the tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the accounting under ASC 740. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Tax Act for which the accounting under ASC 740 is complete. To the extent that a company’s accounting for certain income tax effects of the Tax Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provisions of the tax law that were in effect immediately before the enactment of the Tax Act. In connection with our initial provisional analysis of the impact of the Tax Act, the Company revalued its tax-effected deferred tax assets, resulting in a $19.6 million reduction in the Company’s tax-effected deferred tax assets, with a corresponding reduction in the Company’s valuation allowance. The Company continues to evaluate the impact that the Tax Act will have on these consolidated financial statements, including the tax provisions that apply beginning in 2018, including, but not limited to, (a) the potential impact of the new global intangible low-taxed income and (b) the deduction for foreign derived intangible income. The new rules on interest expense limitation may result in the Company having a new category of loss carryover based upon the Company’s current level of debt and the new limits on deductibility of interest expense. In addition, the new limits on net operating losses generated after 2017 are only allowed up to 80% of taxable income, but are allowed an indefinite carryover. Basic and Diluted Net Income (Loss) per Share. The following table shows the number of potentially dilutive shares excluded from the diluted net loss per share calculation as of December 31, 2017 and 2016: As of December 31, 2017 December 31, 2016 Series B preferred (post split basis) 132 133 Common stock options and warrants 2,519 1,975 Debt with conversion feature at $30 per share of common stock 1,201 1,168 Total number of potentially dilutive shares excluded from the diluted net loss per share calculation 3,852 3,276 Comprehensive Loss. Comprehensive Income Foreign Currency Translation/Transactions. Operating Segments. The “North America” operating segment includes the Company’s 60 million gallons per year capacity Keyes plant in Keyes, California, GAFI plant, Kansas and the research and development facility. The “India” operating segment encompasses the Company’s 50 million gallon per year capacity Kakinada plant in Kakinada, India, the administrative offices in Hyderabad, India, and the holding companies in Nevada and Mauritius. Fair Value of Financial Instruments. Share-Based Compensation. Stock Compensation Commitments and Contingencies. Contingencies Convertible Instruments Debt Modification Accounting Debt – Modification and Extinguishments Recently Issued Accounting Pronouncements In May 2014, the FASB issued new guidance on the recognition of revenue. The guidance stated that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The Company’s adoption of this accounting standard begins with the first quarter of fiscal year 2018. In March and April 2016, the FASB issued further revenue recognition guidance amending principal vs. agent considerations regarding whether an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The Company adopted this guidance on January 1, 2018 using the modified retrospective approach. The cumulative impact to retained earnings was not material. We assessed all of our revenue streams to identify any differences in the timing, measurement or presentation of revenue recognition. The adoption of the new guidance will result in additional disclosures for the period ended in 2018. We derive revenue primarily from sales of ethanol and related co-products in North America, biodiesel and refined glycerin in India based on the agreements and PO contracts. We assessed the following criteria under the guidance. 1) Identify the contracts with customer, 2) identify the performance obligation in the contract, 3) determine the transaction price, 4) allocate the transaction price to the performance obligations in the contract, 5) recognize revenue when the entity satisfies performance obligation. We have contract with J.D. Heiskell and most of our biodiesel and refined glycerin sales are based on raising the purchase order by customer in addition to tender contracts with government and international customers. The performance obligation is to produce ethanol and sell all ethanol to J.D. Heiskell. For biodiesel and refined glycerin, we produce and sell based on purchase order requirements and in case of tender contracts, we need to produce biodiesel with certain identified specifications. Sometimes, commitments can be offered either verbally or in written form in India. The transaction price is determined based on reference market prices for ethanol every day by Kinergy Marketing and for WDG monthly by A.L. Gilbert. The transaction price is determined based on reference market prices for biodiesel and refined glycerin every day. We did not find any other performance obligations other than produce and delivery of ethanol, WDG, biodiesel, and refined glycerin based on the contract or purchase order requirements. Hence there is no transaction price allocation needed. Once delivery of the products happened to the satisfaction of purchase order and contract requirements, we recognize the revenue. We also assessed principal versus agent criteria as we buy our feedstock from our customers and sell our ethanol to J.D. Heiskell and biodiesel to our customers in some contractual agreements. Revenues from sales of ethanol and its co-products 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. Revenues are recorded at the gross invoiced amount. Additionally, our working capital partner leases our finished goods tank and requires us to transfer legal title to the product upon transfer of our finished ethanol to this location. We consider the purchase of corn as a cost of goods sold and the sale of ethanol upon transfer to the finished goods tank as revenue on the basis that (i) we bear the risk of gain or loss on the processing of corn into ethanol and (ii) we have legal title to the goods during the processing time. For biodiesel, we hold the legal title to feedstock came from our customers once it is in our premises. We control the process of it to produce biodiesel based on contract terms and specifications. The pricing for both feedstock and biodiesel set independently. We hold the title and risk to biodiesel as long as it resides on premises. Hence, we are the principal in both scenarios. In February 2016, the FASB issued guidance that amends the existing accounting standards for leases. Consistent with existing guidance, the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification. Under the new guidance, a lessee will be required to recognize right-of-use assets and lease liabilities on the balance sheet. The new guidance is effective for us beginning January 1, 2019, and for interim periods within that year. Early adoption is permitted and we will be required to adopt using a modified retrospective approach. We are evaluating the timing of adoption and the impact of this guidance on our consolidated financial statements and disclosures. In August 2016, the FASB issued amendments to address eight specific cash flow issues with the objective of reducing the existing diversity in practice. The amendments are effective for us beginning January 1, 2018, and for interim periods within that year. Early adoption is permitted. We evaluated the amendments and noted that these amendments will not have a significant impact on the Company’s consolidated financial statements. In November 2016, the FASB issued amendments to require amounts generally described as restricted cash and restricted cash equivalents be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The amendments are effective for us beginning January 1, 2018, and for interim periods within that year. Early adoption is permitted. We evaluated the amendments and noted that these amendments will not have a significant impact on the Company’s consolidated financial statements.

2. Inventories

2. Inventories	12 Months Ended
	Dec. 31, 2017
Inventory Disclosure [Abstract]
Inventories	Inventories consist of the following: December 31, 2017 December 31, 2016 Raw materials $ 2,829 $ 1,044 Work-in-progress 1,605 1,360 Finished goods 1,303 837 Total inventories $ 5,737 $ 3,241

3. Property, Plant and Equipmen

3. Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment consist of the following: December 31, 2017 December 31, 2016 Land $ 2,747 $ 2,713 Plant and buildings 82,652 81,755 Furniture and fixtures 1,003 572 Machinery and equipment 3,972 4,308 Construction in progress 941 88 GAFI property, plant & equipment 15,408 - Total gross property, plant & equipment 106,723 89,436 Less accumulated depreciation (27,886 ) (23,066 ) Total net property, plant & equipment $ 78,837 $ 66,370 Depreciation on the components of the 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 - 7 Furniture and fixtures 3 - 5 The Company recorded depreciation expense of approximately $4.6 million and $4.7 million for the years ended December 31, 2017 and 2016. 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,

4. Debt

4. Debt	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Debt	Debt consists of the notes from the Company’s senior lender, Third Eye Capital, acting as Agent for the Purchasers (Third Eye Capital), other working capital lenders and subordinated lenders as follows: December 31, 2017 December 31, 2016 Third Eye Capital term notes $ 6,931 $ 6,577 Third Eye Capital revolving credit facility 35,371 24,927 Third Eye Capital revenue participation term notes 11,636 11,042 Third Eye Capital acquisition term notes 20,048 19,085 Cilion shareholder seller notes payable 5,824 5,674 Subordinated notes 8,725 7,565 EB-5 long term promissory notes 36,039 35,027 Unsecured working capital loans 4,861 1,817 GAFI Term and Revolving loans 24,351 - Total debt 153,786 111,714 Less current portion of debt 15,625 11,409 Total long term debt $ 138,161 $ 100,305 Third Eye Capital Note Purchase Agreement On July 6, 2012, Aemetis, Inc. and Aemetis Advanced Fuels Keyes, Inc. (“AAFK”), entered into an Amended and Restated Note Purchase Agreement with Third Eye Capital (the “Note Purchase Agreement”). Pursuant to the Note Purchase Agreement, Third Eye Capital extended credit in the form of (i) senior secured term loans in an aggregate principal amount of approximately $7.2 million to replace existing notes held by Third Eye Capital (the “Term Notes”); (ii) senior secured revolving loans in an aggregate principal amount of $18.0 million (“Revolving Credit Facility”); (iii) senior secured term loans in the principal amount of $10.0 million to convert the prior revenue participation agreement to a note (“Revenue Participation Term Notes”); and (iv) senior secured term loans in an aggregate principal amount of $15.0 million (“Acquisition Term Notes”) used to fund the cash portion of the acquisition of Cilion, Inc. (the Term Notes, Revolving Credit Facility, Revenue Participation Term Notes and Acquisition Term Notes are referred to herein collectively as the Original Third Eye Capital Notes). On January 31, 2017, a Promissory Note (the “January 2017 Note”, together with the Original Third Eye Capital Notes, the “Third Eye Capital Notes”) for $2.1 million was advanced by Third Eye Capital to Aemetis, Inc., as a short-term credit facility for working capital and other general corporate purposes with an interest rate of 14% per annum maturing on the earlier of (a) receipt of proceeds from any financing, refinancing, or other similar transaction, (b) extension of credit by payee, as lender or as agent on behalf of certain lenders, to the Company or its affiliates, or (c) May 30, 2017. In addition, as part of the January 2017 Note agreement, Aemetis used $0.5 million of the total proceeds to buy back 275 thousand common shares that were held by Third Eye Capital. In consideration of the January 2017 Note, $133 thousand of the total proceeds were paid to Third Eye Capital as financing charges. On July 10, 2017, the January 2017 Note was paid in full. On March 1, 2017, Third Eye Capital agreed to Amendment No. 13 to the Note Purchase Agreement to: (i) extend the maturity date of the Third Eye Capital Notes to April 1, 2018 in exchange for a 5% extension fee consisting of adding $3.1 million to the outstanding principal balance of the Note Purchase Agreement and allowing for the further extension of the maturity date of the Third Eye Capital Notes to April 1, 2019, at the Company’s election, for an additional extension fee of 5% of the then outstanding Third Eye Capital Notes outstanding balance, (ii) waive the free cash flow financial covenant under the Note Purchase Agreement for the three months ended December 31, 2016, (iii) provide that such covenant will be deleted prospectively from the Note Purchase Agreement, (iv) waive the default under the Note Purchase Agreement relating to indebtedness outstanding to Laird Cagan and (v) waive the covenant under the Note Purchase Agreement to permit the Company to pay off the defaulted Laird Cagan subordinated note by issuing stock. The borrowers agreed to use their best efforts to close the transaction to purchase assets in Goodland, Kansas from Third Eye Capital as described in a non-binding offer to purchase letter between an affiliate of the Company and Third Eye Capital, which closed on July 10, 2017. As consideration for such amendment and waiver, the borrowers agreed to pay Third Eye Capital an amendment and waiver fee of $750 thousand to be added to the outstanding principal balance of the Revolving Credit Facility. The Company evaluated the Amendment of the Notes and applied modification accounting treatment in accordance with ASC 470-50 Debt – Modification and Extinguishment On April 28, 2017, a Promissory Note (the “April 2017 Note”, and together with the Original Third Eye Capital Notes, the “Third Eye Capital Notes”) for $1.5 million was advanced by Third Eye Capital to Aemetis, Inc., as a short-term credit facility for working capital and other general corporate purposes with an interest rate of 14% per annum maturing on the earliest of (a) closing of any Financing, (b) receipt of proceeds from any financing, refinancing or other similar transaction, (c) extension of credit by the Lender, or Agent on behalf of certain lenders or the Noteholders, to the Debtors or their affiliates, and (d) June 15, 2017. In addition, $1.0 million of this note represents fees payable by Goodland Advanced Fuels, Inc. upon the closing of the Goodland transaction. On July 10, 2017, the April 2017 Note was paid in full and the fees payable by Goodland Advanced Fuels, Inc., were paid. On March 27, 2018, Third Eye Capital agreed to Limited Waiver and Amendment No. 14 to the Note Purchase Agreement, to: (i) extend the maturity date of the Third Eye Capital Notes two years to April 1, 2020 in exchange for an amendment fee consisting of 6% (3% per year) of the outstanding note balance as an increase in the fee payable in the event of a redemption of the Notes (as defined in the Note Purchase Agreement); (ii) provide that the maturity date may be further extended at our election to April 1, 2021 in exchange for an extension fee of 5%; (iii) provide for an optional waiver of the ratio of note indebtedness covenant until January 1, 2019 with the payment of a waiver fee of $0.25 million; and (iv) and remove the redemption fee described in (i) above from the calculation of the ratio of note indebtedness covenant. As consideration for such amendment and waiver, the borrowers agreed to pay Third Eye Capital an amendment and waiver fee of $0.5 million to be added to the outstanding principal balance of the Revolving Credit Facility. As a result of the extension of the maturity date in Amendment No. 14, the Third Eye Capital Notes are classified as non-current debt. On March 27, 2018, Third Eye agreed to a one-year reserve liquidity facility governed by a promissory note, payable in the principal amount of up to six million dollars. Borrowings under the facility are available from March 27, 2018 until maturity on April 1, 2019. Interest on borrowed amounts accrues at a rate of 30% per annum, paid monthly in arrears, or 40% if an event of default has occurred and continues. The outstanding principal balance of the indebtedness evidenced by the promissory note, plus any accrued but unpaid interest and any other sums due thereunder, shall be due and payable in full at the earlier to occur of (a) the closing of any new debt or equity financing, refinancing or other similar transaction between Third Eye Capital or any fund or entity arranged by them and the Company or its affiliates, (b) receipt by the Company or its affiliates of proceeds from any sale, merger, equity or debt financing, refinancing or other similar transaction from any third party and (c) April 1, 2019. The promissory note is secured by liens and security interests upon the property and assets of the Company. If any amounts are drawn under the facility, the Company will pay a non-refundable fee in the amount of $0.2 million, payable from the proceeds of the first drawing under the facility. Terms of Third Eye Capital Notes A. Term Notes B. Revolving Credit Facility C. Revenue Participation Term Notes D. Acquisition Term Notes The Third Eye Capital Notes contain various covenants, including but not limited to, debt to plant value ratio, minimum production requirements, and restrictions on capital expenditures. The terms of the Note allow the lender to accelerate the maturity in the occurrence of any event that could reasonably be expected to have a material adverse effect, such as any change in the business, operations, or financial condition. The Third Eye Capital Notes are secured by first priority liens on all real and personal property of, and assignment of proceeds from all government grants and guarantees from Aemetis, Inc. The Third Eye Capital Notes all contain cross-collateral and cross-default provisions. McAfee Capital, LLC (“McAfee Capital”), owned by Eric McAfee, the Company’s Chairman and CEO, provided a guaranty of payment and performance secured by all of its Company shares. In addition, Eric McAfee provided a blanket lien on substantially all of his personal assets, and McAfee Capital provided a guarantee in the amount of $8.0 million. Cilion shareholder seller notes payable Subordinated Notes Interest is accrued at 10% and due at maturity. Neither AAFK nor Aemetis may make any principal payments under the Subordinated Notes until all loans made by Third Eye Capital to AAFK are paid in full. The Subordinated Notes were amended to extend the maturity date on January 1, 2017 and again on July 1, 2017 with six months extension for maturity until December 31, 2017. We evaluated these amendments and the refinancing terms of the notes and applied modification accounting treatment in accordance with ASC 470-50 Debt – Modification and Extinguishment On January 1, 2018, the Subordinated Notes were amended to extend the maturity date until the earlier of (i) June 30, 2018; (ii) completion of an equity financing by AAFK or Aemetis in an amount of not less than $25.0 million; or (iii) after the occurrence of an Event of Default, including failure to pay interest or principal when due and breaches of note covenants. A 10% cash extension fee was paid by adding the fee to the balance of the new note and warrants to purchase 113 thousand shares of common stock were granted with a term of two years and an exercise price of $0.01 per share. We evaluated the January 1, 2018 amendment and the refinancing terms of the notes and applied modification accounting treatment in accordance with ASC 470-50 Debt – Modification and Extinguishment On January 14, 2013, Laird Cagan, a related party, loaned $0.1 million through a promissory note with a five percent annualized interest rate and the right to exercise 5 thousand warrants exercisable at $0.01 per share. On December 12, 2017, Company issued to 165,375 common stock to extinguish this promissory note. At December 31, 2017 and December 31, 2016, the Company had, in aggregate, the amount of $8.7 million and $7.6 million in principal and interest outstanding, respectively, under the Subordinated Notes. EB-5 long-term promissory notes Advanced BioEnergy, LP arranges investments with foreign investors, who each make loans to the Keyes plant in increments of $0.5 million. The Company has sold an aggregate principal amount of $36.0 million of EB-5 Notes under the EB-5 Phase I funding since 2012 to the date of this filing. As of December 31, 2017, $34.5 million released from the escrow amount to the Company, with $1.0 million remaining in escrow and $0.5 million to be funded to escrow. As of December 31, 2017, $34.5 million in principal and $1.5 million in accrued interest was outstanding on the EB-5 Notes. On October 16, 2016, the Company launched its EB-5 Phase II funding, with plans to issue $50.0 million in additional EB-5 Notes on substantially similar terms and conditions as those issued under the Company’s EB-5 Phase I funding to refinance indebtedness and capital expenditures of Aemetis, Inc. and Goodland Advanced Fuels, Inc. Unsecured working capital loans On April 16, 2017, the Company entered into a similar operating agreement with Gemini Edibles and Fats India Private Limited (“Gemini”). Under this agreement, Gemini agreed to provide the Company with working capital, on an as needed basis, to fund the purchase of feedstock and other raw materials for its Kakinada biodiesel facility. Working capital advances bear interest at the actual bank-borrowing rate of Gemini of twelve percent (12%). In return, the Company agreed to pay Gemini an amount equal to 30% of the plant’s monthly net operating profit and recognized these as operational support charges in the financials. In the event that the Company’s biodiesel facility operates at a loss, Gemini owes the Company 30% of the losses as operational support charges. Either party can terminate the agreement at any time without penalty. Additionally, Gemini received a first priority lien on the assets of the Kakinada biodiesel facility. Since the inception of this agreement, the Company made principal and interest payments to Gemini of approximately $5.8 million. As of December 31, 2017, the Company had $3.5 million outstanding on this agreement. In October 2016, the Company made an agreement with one of the raw material vendors to pay 12% interest on unpaid balance of $1.9 million for supplying the palm stearin. The Company paid $0.4 million during the three months ended December 31, 2016. As of December 31, 2017 and 2016, the Company had nil and $1.5 million outstanding on this raw material purchase agreement, respectively. Variable Interest Entity (GAFI) Term loan and Revolving loan On July 10, 2017, GAFI entered into a Note Purchase Agreement (“Note Purchase Agreement”) with Third Eye Capital Corporation (Noteholders). See further discussion regarding GAFI in Note 6. Pursuant to the Note Purchase Agreement, the Noteholders agreed, subject to the terms and conditions of the Note Purchase Agreement and relying on each of the representations and warranties set forth therein, to make (i) a single term loan to GAFI in an aggregate amount of fifteen million dollars (“Term Loan”) and (ii) revolving advances not to exceed ten million dollars in the aggregate (“Revolving Loan”). The interest rate per annum applicable to the Term Loan is equal to ten percent (10%). The interest rate per annum applicable to the Revolving Loans is the greater of Prime Rate plus seven and three quarters percent (7.75%) and twelve percent (12%). The maturity date of the Loans (“Maturity Date”) is July 10, 2019, provided that the Maturity Date may be extended at the option of GAFI for up to two additional one-year periods upon prior written notice and upon satisfaction of certain conditions and the payment of a renewal fee for such extension. An initial advance under the Revolving Loan was made for $2.2 million as a prepayment of interest on the Term Loan for the first eighteen months of interest payments. In addition, a fee of $1.0 million was paid in consideration to Noteholders. GAFI, the Company and its subsidiary Aemetis Advanced Products Keyes, Inc. (“AAPK”) also entered into separate Intercompany Revolving Promissory Notes, dated July 10, 2017 (“Intercompany Revolving Notes”), pursuant to which GAFI may, from time to time, lend a portion of the proceeds of the Revolving Loan borrowed under the Note Purchase Agreement. In consideration, for the direct and indirect benefits from the transactions contemplated by the Note Purchase Agreement and the Intercompany Revolving Notes, Aemetis, Inc. and AAPK (Guarantors) agreed to enter into a Limited Guaranty. Pursuant to the Limited Guaranty, the Guarantors guarantee the prompt payment and performance of all unpaid principal and interest on the Loans and all other obligations and liabilities of GAFI to any Noteholders in connection with the Note Purchase Agreement. The obligations of the Guarantors pursuant to the Limited Guaranty are secured by a first priority lien over all assets of the Guarantors subject to lien existing in connection with the Existing Note Purchase Agreement of Guarantors. Each Guarantor agreed to make the following regulatory and financial covenants: i) maintenance of existence and compliance, ii) payment of obligations; iii) reporting requirements on financials of Guarantors annually, quarterly; iv) delivery of cellulosic ethanol project progress reports within 15 days of the month end, v) the ratio of: (a) the sum of (i) the most recent Mortgaged Property Market Value, and (ii) the most recent AAPK’s cellulosic ethanol project value to (b) the Note Indebtedness, to be less than 2.00:1.00, tested as of the last day of each fiscal quarter, and (iv) permit the amount of trade payables due to exceed the sum of the amount of the GAFI’s Cash Equivalents plus the revolving advances available to be advanced under the Revolving Loan, tested as of the last day of each month. As of December 31, 2017, GAFI had $15.0 million outstanding on the Term Loan and $10.1 million on the Revolving Loan respectively. Scheduled debt repayments for loan obligations adjusted for the subsequent events in Note 15 are as follows: Twelve months ended December 31, Debt Repayments 2018 $ 15,625 2019 48,101 2020 87,360 2021 3,500 2022 824 Total debt 155,410 Discounts (1,624 ) Total debt, net of discounts $ 153,786

5. Commitments and Contingencie

5. Commitments and Contingencies	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Operating Leases As of December 31, 2017, the Company, through its subsidiaries, has non-cancelable future minimum operating lease payments for various office space locations. Future minimum operating lease payments are as follows: Twelve months ended December 31, Future Rent Payments 2018 $ 673 2019 697 2020 419 2021 218 Total $ 2,007 The Company recognized rent expense of $0.6 million and $0.5 million for the years ended December 31, 2017 and 2016, respectively. Property taxes on the Keyes plant have accrued since 2012 and are nearing the five-year term for this process. The company has an option to enter into a payment plan with Stanislaus County to make regular payments over a period of up to five years. During the second quarter of 2018, the company intends to negotiate and enter into such a plan. Legal Proceedings On August 31, 2016, the Company filed a lawsuit in Santa Clara County Superior Court against defendants EdenIQ, Inc. (EdenIQ) and its CEO, Brian D. Thome and Trinity Capital Investments (Trinity). The lawsuit is based on EdenIQ’s wrongful termination of a merger agreement that would have effectuated the merger of the Company and EdenIQ. The lawsuit also asserts that EdenIQ and Mr. Thome fraudulently induced the Company into assisting EdenIQ to obtain EPA approval for a new technology, which the Company would not have done but for the merger agreement. The relief sought includes EdenIQ’s specific performance of the merger agreement and monetary damages, as well as punitive damages, attorneys’ fees, and costs. Trinity was later dismissed from the lawsuit due to jurisdictional issues, but the Company is pursuing Trinity in Arizona where it is domiciled. In response to the Company’s Santa Clara County lawsuit, EdenIQ has filed a cross-complaint asserting causes of action relating to the Company’s alleged inability to consummate the merger, the Company’s interactions with EdenIQ’s business partners, and the Company’s publicity of the status of the merger. EdenIQ seeks monetary damages, punitive damages, injunctive relief, attorneys’ fees and costs. Due to the early stage of the litigation, an estimate as to any Company losses cannot be made at this time. As of February 14, 2018, GS Cleantech resisted the defendants’ (including the Companies) request to maintain the stay and asked that the CAFC enter a briefing schedule of the appeal. Defendants’ purpose for maintaining the stay would be to allow time for briefing and decision at the District Court regarding defendants’ exceptional case motion and motion for legal fees and costs. Proceeding in this manner would allow all issues to be ready for appeal together, avoiding piecemeal litigation and simultaneous pendency of all issues on appeal at the Federal Circuit. No judicial ruling on this issue has been entered as of this date. On March 14, 2018, the Companies filed their exceptional case motions seeking their attorneys’ fees and bills of cost.

6. Variable Interest Entity

6. Variable Interest Entity	12 Months Ended
	Dec. 31, 2017
Variable Interest Entity
Variable Interest Entity	Goodland Advanced Fuels, Inc., (GAFI) was formed to acquire the partially completed Goodland ethanol plant in Goodland, Kansas. GAFI entered into a Note Purchase Agreement with Third Eye Capital Corporation to acquire the plant. GAFI, the Company and its subsidiary AAPK also entered into separate Intercompany Revolving Notes, pursuant to which GAFI may, from time to time, lend a portion of the proceeds of the Revolving Loan incurred under the Note Purchase Agreement. Aemetis, Inc. and AAPK (Guarantors) also agreed to enter into certain Limited Guaranty. Pursuant to the Limited Guaranty, the Guarantors guarantee the prompt payment and performance of all unpaid principal and interest on the Loans and all other obligations and liabilities of GAFI to Noteholders in connection with the Note Purchase Agreement. The obligations of the Guarantors pursuant to the Limited Guaranty are secured by a first priority lien over all assets of the Guarantors pursuant to separate general security agreements entered into by each Guarantor. The aggregate obligations and liabilities of each Guarantor is limited to the sum of (i) the aggregate amount advanced by GAFI to such Guarantor under and in accordance with the Intercompany Revolving Notes and (ii) the obligation of the Guarantor pursuant to its indemnity and expense obligations under the Limited Guaranty prior to the date on which the Option is exercised. Additionally, on July 10, 2017, the Company entered into an Option Agreement by and between GAFI and the sole shareholder of GAFI, pursuant to which Aemetis was granted an irrevocable option to purchase all, but not less than all, of the capital stock of GAFI for an aggregate purchase price equal to $0.01 per share (total purchase price of $10.00). This Option provides for automatic triggering in the event of certain default circumstances. After the automatic exercise upon default, the Limited Guaranty no longer applies and the Guarantors are responsible for the outstanding balances of the GAFI term and revolving loan. Additionally, Third Eye Capital was granted a warrant for the purchase of 250 shares, representing 20% of the outstanding shares of GAFI, for a period of 10 years at an exercise price of $0.01 per share. In consideration for signing the Option, the sole shareholder of GAFI subscribed to the 100,000 common stock of the Aemetis, Inc. On July 10, 2017, the Company issued the 100,000 shares and recognized $0.1 million related stock compensation during the year ended December 31, 2017. After consideration of the above agreements, we concluded that GAFI did not have enough equity to finance its activities without additional subordinated financial support. Additionally, GAFI’s shareholder did not have a controlling financial interest in the entity. Hence, we concluded that GAFI is a VIE. The primary beneficiary of a VIE is the party that has both the power to direct the activities that most significantly affect the economic performance of the VIE and the obligation to absorb losses or receive benefits that could potentially be significant to the VIE. In determining whether Aemetis is the primary beneficiary, a number of factors are considered, including the structure of the entity, contractual provisions that grant any additional rights to influence or control the economic performance of the VIE, and obligation to absorb significant losses. Through providing Limited Guaranty and signing the Option Agreement, the Company took the risks related to operations, financing the Goodland plant, and agreed to meet the financial covenants for GAFI to be in existence. Based upon this assessment, Aemetis has the power to direct the activities of GAFI and has been determined to be the primary beneficiary of GAFI and accordingly, the assets, liabilities, and operations of GAFI are consolidated into those of the Company. The assets and liabilities were initially recognized at fair value. The following are the Balance Sheet and Statement of Operations of GAFI: As of December 31, 2017 Assets Current assets: Cash and cash equivalents $ 184 Prepaid expenses 1,581 Total current assets 1,765 Property, plant and equipment, net 15,408 Promissory note receivable from Aemetis 5,709 Total assets $ 22,882 Liabilities and stockholders' deficit Secured and Revolving notes $ 24,351 Total liabilities $ 24,351 Accumulated deficit (1,469 ) Total liabilities and stockholders' deficit $ 22,882 From July 10, 2017 to December 31, 2017 Selling, general and administrative expenses $ 260 Operating loss $ (260 ) Interest expense Interest rate expense $ 1,249 Amortization expense 250 Other (income) expense (290 ) Net loss $ (1,469 ) As of December 31, 2017, the Company borrowed $5.7 million under the Intercompany Revolving Notes to pay off agent advances and pay costs associated with the testing of cellulosic ethanol production. Aemetis paid GAFI fees of $1.0 million associated with entry into the Note purchase agreement with TEC, and accordingly holds an account receivable from GAFI. In the consolidation process, these intercompany borrowings were eliminated.

7. Stockholders' Equity

7. Stockholders' Equity	12 Months Ended
	Dec. 31, 2017
Stockholders' deficit:
Stockholders' Equity	The Company is authorized to issue up to 40 million shares of common stock, $0.001 par value and 65 million shares of preferred stock, $0.001 par value. Convertible Preferred Stock The following is a summary of the authorized, issued and outstanding convertible preferred stock: Authorized Shares Issued and Shares Outstanding December 31, 2017 2016 Series B preferred stock 7,235 1,323 1,328 Undesignated 57,765 — — 65,000 1,323 1,328 Our Articles of Incorporation authorize the Company’s board to issue up to 65 million shares of preferred stock, $0.001 par value, in one or more classes or series within a class upon authority of the board without further stockholder approval. Significant terms of the designated preferred stock are as follows: Voting. ● Increase or decrease (other than by redemption or conversion) the total number of authorized shares of Series B preferred stock; ● Effect an exchange, reclassification, or cancellation of all or a part of the Series B preferred stock, including a reverse stock split, but excluding a stock split; ● Effect an exchange, or create a right of exchange, of all or part of the shares of another class of shares into shares of Series B preferred stock; or ● Alter or change the rights, preferences or privileges of the shares of Series B preferred stock so as to affect adversely the shares of such series. Dividends Liquidation Preference. Conversion. Mandatorily Redeemable Series B preferred stock.

8. Outstanding Warrants

8. Outstanding Warrants	12 Months Ended
	Dec. 31, 2017
Text Block [Abstract]
Outstanding Warrants	During the years ended December 31, 2017 and 2016, the Company granted 227 thousand common stock warrants, for the extension of certain Notes for each period, respectively. The accredited investors received 2-year warrants exercisable at $0.01 per share as part of note agreements. The weighted average fair value calculations for warrants granted are based on the following weighted average assumptions: Description For the year ended December 31 2017 2016 Dividend-yield 0 % 0 % Risk-free interest rate 1.32 % 0.81 % Expected volatility 68.5 % 71.8 % Expected life (years) 2 2 Market value per share on grant date $ 1.43 $ 2.56 Exercise price per share $ 0.01 $ 0.01 Fair value per share on grant date $ 1.42 $ 2.55 For the years ended December 31, 2017 and 2016, Note investors exercised 241 thousand and 233 thousand warrant shares at exercise prices of $0.01 per share, respectively. A summary of historical warrant activity for the years ended December 31, 2017 and 2016 follows: Warrants Outstanding & Exercisable Weighted - Average Exercise Price Average Remaining Term in Years Outstanding December 31, 2015 368 $ 3.36 4.61 Granted 227 0.01 Exercised (233 ) 0.01 Expired (18 ) 0.01 Outstanding December 31, 2016 344 $ 3.33 3.88 Granted 227 0.01 Exercised (241 ) 0.01 Expired - 0.01 Outstanding December 31, 2017 330 $ 3.47 3.02 25 thousand of the above outstanding warrants are not vested and exercisable as of December 31, 2017. As of December 31, 2017, the Company had $37 thousand of total unrecognized compensation expense related to warrants which the Company will amortize over the 0.94 years of weighted remaining term.

9. Stock-Based Compensation

9. Stock-Based Compensation	12 Months Ended
	Dec. 31, 2017
Stockholders' deficit:
Stock-Based Compensation	Plan Stock Options Aemetis authorized the issuance of 2.6 million shares of common stock under its Zymetis 2006 Stock Plan and Amended and Restated 2007 Stock Plan (together, the “Company Stock Plans”), which include both incentive and non-statutory stock options. These options generally expire five to ten years from the date of grant with a general vesting term of 1/12th every three months and are exercisable at any time after vesting subject to continuation of employment. 637 thousand stock option grants were issued on January 19, 2017 for employees and Directors under the Company Stock Plans. 262 thousand stock options were issued on November 16, 2017 under the Company Stock Plans. As of December 31, 2017, 2.2 million options are outstanding under the Company Stock Plans. Inducement Equity Plan Options In March 2015, the Directors of the Company approved an Inducement Equity Plan authorizing the issuance of 100,000 non-statutory options to purchase common stock. As of December 31, 2017, 37 thousand options were outstanding. Common Stock Reserved for Issuance The following is a summary of awards granted under the above Plans: Shares Available for Grant Number of Shares Outstanding Weighted-Average Exercise Price Balance as of December 31, 2016 98 1,632 $ 4.37 Authorized 655 - - Granted (899 ) 899 1.41 Forfeited/expired 342 (342 ) - Balance as of December 31, 2017 196 2,189 $ 2.70 Vested and unvested awards outstanding as of December 31, 2017 and 2016 follow: Number of Shares Weighted Average Exercise Price Remaining Contractual Term (In Years) Average Intrinsic Value (1) 2017 Vested and Exercisable 1,515 $ 2.94 5.83 $ - Unvested 674 2.16 8.62 - Total 2,189 $ 2.70 6.68 $ - 2016 Vested and Exercisable 977 $ 5.45 3.28 $ - Unvested 655 2.76 8.66 - Total 1,632 $ 4.37 5.44 $ - ——————— (1) Intrinsic value based on the $0.55 and $1.39 closing price of Aemetis stock on December 31, 2017 and 2016 respectively, as reported on the NASDAQ Exchange. Stock-based compensation for employees Stock-based compensation is accounted for in accordance with the provisions of ASC 718, Compensation-Stock Compensation, which requires the measurement and recognition of compensation expense for all stock-based awards made to employees and directors based on estimated fair values on the grant date. We estimate the fair value of stock-based awards on the date of grant using the Black-Scholes option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods using the straight-line method. For the years ended December 31, 2017 and 2016 the Company recorded option expense in the amount of $1.1 million and $0.7 million, respectively. Valuation and Expense Information All issuances of stock options or other issuances of equity instruments to employees as the consideration for services received by us are accounted for based on the fair value of the equity instrument issued. The fair value of options granted to employees is estimated on the grant date using the Black-Scholes option valuation model. This valuation model for stock based compensation expense requires us to make assumptions and judgments about the variables used in the calculation, including the fair value of our common stock, the expected term (the period of time that the options granted are expected to be outstanding), the volatility of our common stock, a risk-free interest rate, and expected dividends. Under ASU 2016-09, we have elected to recognize forfeitures as they occur. We use the simplified calculation of expected life described in the SEC’s Staff Accounting Bulletin No. 107, Share-Based Payment, and volatility is based on an average of the historical volatilities of the common stock of four entities with characteristics similar to those of the Company. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option. We use an expected dividend yield of zero, as we do not anticipate paying any dividends in the foreseeable future. Expected forfeitures are assumed to be zero due to the small number of plan participants. The weighted average fair value calculations for options granted during years ended December 31, 2017 and 2016 are based on the following assumptions: For the years ended December 31, Description 2017 2016 Dividend-yield 0 % 0 % Risk-free interest rate 2.22 % 1.66 % Expected volatility 76.96 % 77.69 % Expected life (years) 6.42 6.99 Market value per share on grant date $ 1.41 $ 2.52 Fair value per share on grant date $ 0.99 $ 1.79 As of December 31, 2017, the Company had $0.9 million of total unrecognized compensation expense for employees which the Company will amortize over the weighted remaining term of 1.6 years. In addition, the Company issued 100 thousand shares in the Company’s restricted common stock on July 10, 2017 to the GAFI sole shareholder in consideration for Option agreement at the subscription grant price of $1.18. In addition, Company issued 165 thousand shares in the Company’s restricted common stock to promissory note holder on December 12, 2017 at the subscription grant price of $0.80 per share to pay off a promissory note. Stock-based compensation awards issued to non-employees are recorded in expense and additional paid-in capital in stockholders’ deficit over the applicable service periods based on the fair value of the awards or consideration received at the vesting date.

10. Agreements

10. Agreements	12 Months Ended
	Dec. 31, 2017
Agreements
Agreements	Working Capital Arrangement. The J.D. Heiskell sales activity associated with the Purchasing Agreement, Corn Procurement and Working Capital Agreements during the years ended December 31, 2017 and 2016 were as follows: As of and for the years ended December 31, 2017 2016 Ethanol sales $ $ 100,672 95,556 Wet distiller's grains sales 21,742 22,016 Corn oil sales 3,707 2,995 Corn/milo purchases 101,768 91,234 Accounts receivable 1,171 743 Accounts payable 2,449 1,821 Ethanol and Wet Distillers Grains Marketing Arrangement.

11. Segment Information

11. Segment Information	12 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
Segment Information	Aemetis recognizes two reportable geographic segments: “North America” and “India.” The “North America” operating segment includes the Company’s owned ethanol plant in Keyes, California, Goodland plant in Kansas and its technology research and development lab. As the Company’s technology gains market acceptance, this business segment will initially include its domestic commercial application of cellulosic ethanol technology, its plant construction projects and any acquisitions of ethanol or ethanol related technology facilities in North America. The “India” operating segment includes the Company’s 50 million gallon per year nameplate capacity biodiesel manufacturing plant in Kakinada, 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. Summarized financial information by reportable segment for the years ended December 31, 2017 and 2016 follow: 2017 North America India Total Consolidated Revenues $ 136,739 $ 13,418 $ 150,157 Cost of goods sold 133,606 13,176 146,782 Gross profit 3,133 242 3,375 Expenses Research and development expenses 2,367 - 2,367 Selling, general and administrative expenses 12,134 1,057 13,191 Interest expense 18,991 313 19,304 Other (income) expense 328 (51 ) 277 Loss before income taxes $ (30,687 ) $ (1,077 ) $ (31,764 ) Capital Expenditures $ 802 $ 314 $ 1,116 Depreciation 4,001 621 4,622 Total Assets 80,479 13,852 94,331 2016 North America India Total Consolidated Revenues $ 128,706 $ 14,452 $ 143,158 Cost of goods sold 117,040 14,519 131,559 Gross profit (loss) 11,666 (67 ) 11,599 Expenses Research and development expenses 369 - 369 Selling, general and administrative expenses 10,912 1,099 12,011 Interest expense 16,957 259 17,216 Gain on debt extinguishment - (2,033 ) (2,033 ) Other (income) expense (254 ) (80 ) (334 ) Income (Loss) before income taxes $ (16,318 ) $ 688 $ (15,630 ) Capital Expenditures $ 198 $ 431 $ 629 Depreciation 4,067 603 4,670 Total Assets 67,279 10,531 77,810 North America: India:

12. Related Party Transactions

12. Related Party Transactions	12 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
Related Party Transactions	The Company owes Eric McAfee, the Company’s Chairman and CEO, and McAfee Capital, owned by Eric McAfee, $0.4 million in connection with employment agreements and expense reimbursements previously accrued as salaries expense and accrued liabilities. The balance accrued related to these employment agreements was $0.4 million as of December 31, 2017 and December 31, 2016. For the years ended December 31, 2017 and 2016, the Company expensed $0.1 million each respectively, to reimburse actual expenses incurred by McAfee Capital and related entities. The Company previously prepaid $0.2 million to Redwood Capital, a company controlled by Eric McAfee, for the Company’s use of flight time on a corporate jet. As of December 31, 2017, $0.1 million remained as a prepaid expense related to Redwood Capital. As consideration for the reaffirmation of guaranties required by Amendment No. 13 to the Note Purchase Agreement, which the Company entered into with Third Eye Capital on March 1, 2017, the Company also agreed to pay $0.2 million in consideration to McAfee Capital in exchange for their willingness to provide the guarantees. The balance of $342 thousand and $156 thousand for guarantee fee remained as accrued liability as of December 31, 2017 and December 31, 2016 respectively. The Company owes various former and current Board Members amounts totaling $1.7 million and $1.5 million at both December 31, 2017 and 2016, respectively, in connection with board compensation fees, which are included in accounts payable on the balance sheet. For each of the years ended December 31, 2017 and 2016, the Company expensed $0.4 million each year, in connection with board compensation fees.

13. Income Tax

13. Income Tax	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income Tax	The Company files a consolidated federal income tax return including all its domestic subsidiaries. State tax returns are filed on a consolidated, combined or separate basis depending on the applicable laws relating to the Company and its subsidiaries. Income tax expense for each of the years ended December 31, 2017 and 2016 consisted of $6 thousand of state and local taxes. During the years ended December 31, 2017 and 2016, there is minimal tax expense recognized. The deferred tax liability existing at December 31 2017 and 2016 is reducing the valuation allowance needed, as the Company believes the reversal of the deferred tax liability will occur prior to the expiration of the NOL carryforward. U.S. loss and foreign loss before income taxes are as follows: Year Ended December 31, 2017 2016 United States (30,687 ) (16,318 ) Foreign (1,077 ) 688 Pretax Income (31,764 ) (15,630 ) Income tax benefit differs from the amounts computed by applying the statutory U.S. federal income tax rate (34%) to loss before income taxes as a result of the following: Year Ended December 31, 2017 2016 Income tax expense (benefit) at the federal statutory rate (10,799 ) (5,314 ) Tax Rate Re-measurement - 2017 Tax Cut 19,600 - State tax expense (benefit) (1,689 ) (775 ) Foreign tax differential 1,154 (401 ) Stock-based compensation 299 152 Interest expense 33 26 Other (24 ) 127 Credits (24 ) (24 ) Valuation allowance (8,544 ) 6,215 Income Tax Expense 6 6 Effective Tax Rate -0.02 % -0.04 % The components of the net deferred tax asset or (liability) are as follows: Year Ended December 31, 2017 2016 Org, Start-up and Intangible Assets 5,045 7,435 Stock Based Comp 223 185 Prop., Plant, and Equip. (14,551 ) (21,639 ) NOLs and R&D Credits 53,874 66,698 Convertible Debt - (5 ) Ethanol Credits 1,500 1,500 Debt Extinguishment 91 612 Other, net 545 620 Subtotal 46,727 55,406 Valuation Allowance (46,727 ) (55,406 ) Deferred tax assets (liabilities) - - Based on the Company’s evaluation of current and anticipated future taxable income, the Company believes it is more likely than not that insufficient taxable income will be generated to realize the net deferred tax assets, and accordingly, a valuation allowance has been set against these net deferred tax assets. The Company does not provide for U.S. income taxes for any undistributed earnings of the Company’s foreign subsidiaries, as the Company considers these permanently reinvested in the operations of such subsidiaries and have a cumulative foreign loss. At December 31, 2017 and 2016, these undistributed losses totaled $12.0 million, and $10.9 million, respectively. If any earnings were distributed, some countries may impose withholding taxes. Following the passage of the 2017 U.S. Tax Cuts and Jobs Act, the U.S. imposed a transition tax on the accumulated earnings of the Company’s foreign subsidiaries through December 31, 2017. Since the foreign subsidiaries have a cumulative loss, there was no U.S. federal tax impact related to the transition tax. All future earnings of the foreign subsidiaries will not be subject to U.S. income taxes as the U.S. has moved to a modified territorial system for tax years beginning after December 31, 2017. Finally, due to the Company’s overall deficit in foreign cumulative earnings and its U.S. loss position, the Company does not believe a material net unrecognized U.S. state deferred tax liability exists. ASC 740 Income Taxes We conduct business globally and, as a result, one or more of the Company’s subsidiaries file income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. In the normal course of business, the Company is subject to examination by taxing authorities throughout the world, including such major jurisdictions as India, Mauritius, and the United States. The Company files a U.S. federal income tax return and tax returns in three U.S. states, as well as in two foreign jurisdictions. Penalties and interest are classified as general and administrative expenses. The following describes the open tax years, by major tax jurisdiction, as of December 31, 2017: United States — Federal 2007 – present United States — State 2008– present India 2010 – present Mauritius 2010 – present As of December 31, 2017, the Company had federal net operating loss carryforwards of approximately $188.0 million and state net operating loss carryforwards of approximately $178.0 million. The Company also has approximately $1.5 million of alcohol and cellulosic biofuel credit carryforwards. The federal net operating loss and other tax credit carryforwards expire on various dates between 2027 and 2037. The state net operating loss carryforwards expire on various dates between 2027 through 2037. Under the current tax law, net operating loss and credit carryforwards available to offset future income in any given year may be limited by U.S. or India statute regarding net operating loss carryforwards and timing of expirations or upon the occurrence of certain events, including significant changes in ownership interests. The Company’s India subsidiary also will have net operating loss carryforwards as of March 31, 2018, its tax fiscal year end, of approximately $9.0 million in U.S. dollars, which expire from March 30, 2018 to March 30, 2025.

14. Parent Company Financial St

14. Parent Company Financial Statements (Unaudited)	12 Months Ended
	Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Parent Company Financial Statements (Unaudited)	The following is a summary of the Parent Company financial statements for the years ended December 31, 2017 and 2016: Aemetis, Inc. (Parent Company) Balance Sheets As of December 31, 2017 and 2016 Assets 2017 2016 Current assets Cash and cash equivalents $ 29 $ - Receivables due from subsidiaries 6,946 12,244 Prepaid expenses 251 270 Total current assets 7,226 12,514 Property, plant and equipment, net 15 27 Other assets 54 54 Total Assets $ 7,295 $ 12,595 Liabilities & stockholders' deficit Current liabilities Accounts payable $ 3,568 $ 3,039 Mandatorily redeemable Series B convertible preferred 2,946 2,844 GAFI- payables 3,357 - Other current liabilities 1,679 1,419 Total current liabilities 11,550 7,302 Subsidiary obligation in excess of investment Investment in AE Advanced Fuels, Inc. 69,273 49,694 Investment in Aemetis Americas, Inc 205 205 Investment in Aemetis Biofuels, Inc. 2,738 2,738 Investment in Aemetis Technologies, Inc. 2,947 2,405 Investment in AE Advanced Fuels Goodland , Inc. 100 51 Investment in AE Advanced Products Keyes , Inc. (1,617 ) 113 Investment in Biofuels Marketing, Inc. 349 349 Investment in Aemetis International, Inc. 142 (449 ) Total subsidiary obligation in excess of investment 74,137 55,106 Total long term liabilities 74,137 55,106 Stockholders' deficit Series B Preferred convertible stock 1 1 Common stock 20 20 Additional paid-in capital 84,679 83,441 Accumulated deficit (160,188 ) (129,887 ) Accumulated other comprehensive loss (2,904 ) (3,388 ) Total stockholders' deficit (78,392 ) (49,813 ) Total liabilities & stockholders' deficit $ 7,295 $ 12,595 Aemetis, Inc. (Parent Company) Statements of Operations and Comprehensive Loss For the Years Ended December 31, 2017 and 2016 2017 2016 Equity in subsidiary losses $ (22,341 ) $ (10,272 ) Selling, general and administrative expenses 7,317 4,818 Operating loss (29,658 ) (15,090 ) Other expense Interest expense 503 278 Other expense 134 262 Loss before income taxes (30,295 ) (15,630 ) Income tax expense 6 6 Net loss (30,301 ) (15,636 ) Other comprehensive loss Foreign currency translation adjustment 484 (209 ) Comprehensive loss $ (29,817 ) $ (15,845 ) Aemetis, Inc. (Parent Company) Statements of Cash Flows For the years ended December 31, 2017 and 2016 2017 2016 Operating activities: Net loss (30,301 ) (15,636 ) Adjustments to reconcile net loss to net cash used in operating activities: Stock-based compensation 1,101 747 Stock issued for services 118 - Depreciation 6 (25 ) Subsidiary portion of net losses 22,341 10,272 Changes in assets and liabilities: Prepaid expenses 19 45 Accounts payable 529 293 Accrued interest expense 503 284 Other liabilities 64 104 Net cash used in operating activities (5,620 ) (3,916 ) Investing activities: Subsidiary advances, net 5,149 3,916 Net cash provided by investing activities 5,149 3,916 Financing activities: Proceeds from borrowings under secured debt facilities 500 - Net cash provided by financing activities 500 - Net increase in cash and cash equivalents 29 - Cash and cash equivalents at beginning of period - - Cash and cash equivalents at end of period $ 29 $ - Supplemental disclosures of cash flow information, cash paid: Interest payments - - Income tax expense 6 6 Supplemental disclosures of cash flow information, non-cash transactions: Fair value of warrants issued to subordinated debt holders 321 579 Repurchase of common stock added to TEC promissory note 451 - Settlement of accounts payable through transfer of equipment - 66 Settlement of subordinated debt through issuing stock 132 - Payment of TEC bridge loan added to GAFI Revolving loan 3,669 -

15. Subsequent Events

15. Subsequent Events	12 Months Ended
	Dec. 31, 2017
Subsequent Events [Abstract]
Subsequent Events	Subordinated Notes On January 1, 2018, the two accredited investors Subordinated Notes’ maturity was extended until the earlier of (i) June 30, 2018; (ii) completion of an equity financing by AAFK or Aemetis in an amount of not less than $25 million; (iii) the completion of an Initial Public Offering by AAFK or Aemetis; or (iv) after the occurrence of an Event of Default, including failure to pay interest or principal when due and breaches of note covenants. A 10 percent cash extension fee was paid by adding the fee to the balance of the new Note and 113 thousand in common stock warrants were granted with a term of two years and an exercise price of $0.01 per share. Third Eye Capital Advance On February 27, 2018, a Promissory Note (the “Feb 2018 Note”, and together with the Original Third Eye Capital Notes, the “Third Eye Capital Notes”) for $2.1 million was advanced by Third Eye Capital to Aemetis, Inc., as a short-term credit facility for working capital and other general corporate purposes with an interest rate of 14% per annum maturing on the earliest of (a) closing of any new debt or equity financing, refinancing, or other similar transaction, (b) receipt of proceeds from any sale, merger, equity, or debt financing, refinancing, or other similar transaction from any third party, and (c) April 30, 2018. Third Eye Amendment On March 27, 2018, Third Eye Capital agreed to Limited Waiver and Amendment No. 14 to the Note Purchase Agreement, to: (i) extend the maturity date of the Third Eye Capital Notes two years to April 1, 2020 in exchange for an amendment fee consisting of 6% (3% per year) of the outstanding note balance as an increase in the fee payable in the event of a redemption of the Notes (as defined in the Note Purchase Agreement); (ii) provide that the maturity date may be further extended at our election to April 1, 2021 in exchange for an extension fee of 5%; (iii) provide for an optional waiver of the ratio of note indebtedness covenant until January 1, 2019 with the payment of a waiver fee of $0.25 million; and (iv) and remove the redemption fee described in (i) above from the calculation of the ratio of note indebtedness covenant. As consideration for such amendment and waiver, the borrowers agreed to pay Third Eye Capital an amendment and waiver fee of $0.5 million to be added to the outstanding principal balance of the Revolving Credit Facility. Third Eye Reserve Liquidity Facility On March 27, 2018, Third Eye agreed to a one-year reserve liquidity facility governed by a promissory note, payable in the principal amount of up to six million dollars. Borrowings under the facility are available from March 27, 2018 until maturity on April 1, 2019. Interest on borrowed amounts accrues at a rate of 30% per annum, paid monthly in arrears, or 40% if an event of default has occurred and continues. The outstanding principal balance of the indebtedness evidenced by the promissory note, plus any accrued but unpaid interest and any other sums due thereunder, shall be due and payable in full at the earlier to occur of (a) the closing of any new debt or equity financing, refinancing or other similar transaction between Third Eye Capital or any fund or entity arranged by them and the Company or its affiliates, (b) receipt by the Company or its affiliates of proceeds from any sale, merger, equity or debt financing, refinancing or other similar transaction from any third party and (c) April 1, 2019. The promissory note is secured by liens and security interests upon the property and assets of the Company. If any amounts are drawn under the facility, the Company will pay a non-refundable fee in the amount of $0.2 million, payable from the proceeds of the first drawing under the facility.

16. Management's Plan

16. Management's Plan	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Management's Plan	The accompanying financial statements have been prepared contemplating the realization of assets and satisfaction of liabilities in the normal course of business. The Company has been reliant on their senior secured lender to provide additional funding and has been required to remit substantially all excess cash from operations to the senior secured lender. As of December 31, 2017, the Company did not have any additional borrowings to fund future cash flow requirements. Management believes that through the following actions, the company will have the ability to generate capital liquidity to carry out the business plan for 2018: Operate the Keyes plant and continue to improve operational performance, including the adoption of new technologies or process changes that allow for energy efficiency, cost reduction or revenue enhancements to the current operations. Expand the ethanol sold at the Keyes plant to include the cellulosic ethanol to be generated at Riverbank, California, and to utilize lower -cost, non--food advanced feedstocks to significantly increase margins. Monetize the CO2 produced at the Keyes plant by executing on the agreement with Linde for the delivery of gas to their neighboring facility to be built during 2018. Rely on the approval of a $125M USDA loan guarantee to raise the funds necessary to construct and operate a cellulosic ethanol plant in Riverbank, California using the licensed technology from LanzaTech and InEnTec to generate federal and state carbon credits available for ultra--low carbon fuels. Secure higher volumes of shipments of fuels at the India plant by developing the sales channels, including, expanding the existing domestic markets, extending international sales by supplying large oil companies (primarily the BP Singapore Agreement during 2017), and exporting fuel into the European Union and United States biodiesel markets to capture valuable low carbon fuel credits. Continue to locate funding for existing and new business opportunities through a combination of working with our senior lender, restructuring existing loan agreements, selling the current offering for $50 million from the Phase II EB-5 program, or by vendor financing arrangements. Management believes that a combination of the above--mentioned actions as well as the subsequent debt financing described in Note 15, will provide the funding necessary to alleviate substantial doubt about the company’s ability to continue as a going concern.

1. Nature of Activities and S23

1. Nature of Activities and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2017
Schedule of Notes Payable
Nature of Activities	Nature of Activities ● Aemetis Americas, Inc., a Nevada corporation, and its subsidiary AE Biofuels, Inc., a Delaware corporation; ● Biofuels Marketing, Inc., a Delaware corporation; ● Aemetis International, Inc., a Nevada corporation, and its subsidiary International Biofuels, Ltd., a Mauritius corporation, and its subsidiary Universal Biofuels Private, Ltd., an India company; ● Aemetis Technologies, Inc., a Delaware corporation; ● Aemetis Biochemicals, Inc., a Nevada corporation; ● Aemetis Biofuels, Inc., a Delaware corporation, and its subsidiary Energy Enzymes, Inc., a Delaware corporation; ● AE Advanced Fuels, Inc., a Delaware corporation, and its subsidiaries Aemetis Advanced Fuels Keyes, Inc., a Delaware corporation, and Aemetis Facility Keyes, Inc., a Delaware corporation; ● Aemetis Advanced Fuels, Inc., a Nevada corporation; ● Aemetis Advanced Products Keyes, Inc., a Delaware corporation; ● Aemetis Property Keyes, Inc., a Delaware corporation; and, ● Aemetis Advanced Biorefinery Keyes, Inc., a Delaware corporation. Headquartered in Cupertino, California, Aemetis is an advanced renewable fuels and biochemicals company focused on the acquisition, development and commercialization of innovative technologies that replace traditional petroleum-based products through the conversion of second-generation ethanol and biodiesel plants into advanced biorefineries. Founded in 2006, we own and operate a 60 million gallon per year ethanol plant in the California Central Valley near Modesto where we manufacture and produce ethanol, wet distillers’ grains (“WDG”), condensed distillers solubles (“CDS”), and distillers’ corn oil (“DCO”). We also own and operate a 50 million gallon per year renewable chemical and advanced fuel production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe. We operate a research and development laboratory and hold a portfolio of patents and related technology licenses for the production of renewable fuels and biochemicals.
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation In July 2017, we closed on a transaction with Goodland Advanced Fuels, Inc. (GAFI). GAFI was formed to acquire the partially completed Goodland plant in Goodland, Kansas. GAFI has a sole shareholder with only 1000 shares. GAFI is a VIE since it does not have enough equity to support its own activities. GAFI entered into a Note Purchase Agreement with Third Eye Capital Corporation. GAFI, the Company and its subsidiary AAPK also entered into separate Intercompany Revolving Notes, pursuant to which GAFI may lend a portion of the proceeds of the Revolving Loan incurred under the Note Purchase Agreement. Aemetis, Inc. and AAPK (Guarantors) also agreed to provide certain Limited Guaranty on the Note Purchase Agreement terms and also entered into Option Agreement with GAFI shareholder to purchase all shares of GAFI at $0.01 per share ($10.00). Given acceptance of more risk and direct and indirect benefits received through the Note Purchase Agreement and providing guarantees on repayment of debt of GAFI, Aemetis has the power to direct the activities of GAFI and has future plans to apply cellulosic ethanol technology to the Goodland plant. Upon application of consolidation guidance in ASC 810 Consolidation, we determined that GAFI is a variable interest entity and Aemetis, Inc. is the primary beneficiary. Accordingly, the consolidated financial statements include the accounts of GAFI (see Note 6). All intercompany balances and transactions have been eliminated in consolidation including any transactions between GAFI and Aemetis, Inc.
Use of Estimates	Use of Estimates
Revenue recognition	Revenue Recognition
Cost of Goods Sold	Cost of Goods Sold
Shipping and Handling Costs	Shipping and Handling Costs
Research and Development	Research and Development.
Cash and Cash Equivalents	Cash and Cash Equivalents
Accounts Receivable	Accounts Receivable. 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 including 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 receivable 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 be required. We did not reserve any balance for allowance for doubtful accounts in the years ended December 31, 2017 and 2016.
Inventories	Inventories
Property, Plant and Equipment	Property, Plant and Equipment The Company evaluates the recoverability of long-lived assets with finite lives in accordance with ASC Subtopic 360-10-35 Property Plant and Equipment –Subsequent Measurements,
Income Taxes	Income Taxes. Income Taxes ASC 740 provides for recognition of deferred tax assets if the realization of such assets is more likely than not to occur. Otherwise, a valuation allowance is established for the deferred tax assets, which may not be realized. As of December 31, 2017 and 2016, the Company recorded a full valuation allowance against its net deferred tax assets due to operating losses incurred since inception. Realization of deferred tax assets is dependent upon future earnings, if any, the timing and amount of which are uncertain. Accordingly, the net deferred tax assets were fully offset by a valuation allowance. The Company is subject to income tax audits by the respective tax authorities in all of the jurisdictions in which it operates. The determination of tax liabilities in each of these jurisdictions requires the interpretation and application of complex and sometimes uncertain tax laws and regulations. The recognition and measurement of current taxes payable or refundable and deferred tax assets and liabilities requires that the Company make certain estimates and judgments. Changes to these estimates or a change in judgment may have a material impact on the Company’s tax provision in a future period. 2017 U.S. Tax Cuts and Jobs Act On December 22, 2017, the United States enacted tax reform legislation through the Tax Cuts and Jobs Act (the “Tax Act”), which significantly changes the existing U.S. tax laws, including, but not limited to, (1) a reduction in the corporate federal tax rate from 35% to 21%, (2) requiring companies to pay a one-time transition tax on certain un-repatriated earnings of foreign subsidiaries, (3) a move from a worldwide tax system to a territorial system, (4) eliminating the corporate alternative minimum tax (AMT) and changing how existing AMT credits can be realized, (5) bonus depreciation that will allow for full expensing of qualified property, (6) creating a new limitation on deductible interest expense and (7) changing rules related to uses and limitations of net operating loss carryforwards created in tax years beginning after December 31, 2017. The SEC staff issued Staff Accounting Bulletin (“SAB 118”), which provides guidance on accounting for the tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the accounting under ASC 740. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Tax Act for which the accounting under ASC 740 is complete. To the extent that a company’s accounting for certain income tax effects of the Tax Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provisions of the tax law that were in effect immediately before the enactment of the Tax Act. In connection with our initial provisional analysis of the impact of the Tax Act, the Company revalued its tax-effected deferred tax assets, resulting in a $19.6 million reduction in the Company’s tax-effected deferred tax assets, with a corresponding reduction in the Company’s valuation allowance. The Company continues to evaluate the impact that the Tax Act will have on these consolidated financial statements, including the tax provisions that apply beginning in 2018, including, but not limited to, (a) the potential impact of the new global intangible low-taxed income and (b) the deduction for foreign derived intangible income. The new rules on interest expense limitation may result in the Company having a new category of loss carryover based upon the Company’s current level of debt and the new limits on deductibility of interest expense. In addition, the new limits on net operating losses generated after 2017 are only allowed up to 80% of taxable income, but are allowed an indefinite carryover.
Basic and Diluted Net Income (Loss) per Share	Basic and Diluted Net Income (Loss) per Share. The following table shows the number of potentially dilutive shares excluded from the diluted net loss per share calculation as of December 31, 2017 and 2016: As of December 31, 2017 December 31, 2016 Series B preferred (post split basis) 132 133 Common stock options and warrants 2,519 1,975 Debt with conversion feature at $30 per share of common stock 1,201 1,168 Total number of potentially dilutive shares excluded from the diluted net loss per share calculation 3,852 3,276
Comprehensive Loss	Comprehensive Loss. Comprehensive Income
Foreign Currency Translation/Transactions	Foreign Currency Translation/Transactions.
Operating Segments	Operating Segments. The “North America” operating segment includes the Company’s 60 million gallons per year capacity Keyes plant in Keyes, California, GAFI plant, Kansas and the research and development facility. The “India” operating segment encompasses the Company’s 50 million gallon per year capacity Kakinada plant in Kakinada, India, the administrative offices in Hyderabad, India, and the holding companies in Nevada and Mauritius.
Fair Value of Financial Instruments	Fair Value of Financial Instruments.
Share-Based Compensation	Share-Based Compensation. Stock Compensation
Commitments and Contingencies	Commitments and Contingencies. Contingencies
Convertible Instruments	Convertible Instruments
Debt Modification Accounting	Debt Modification Accounting Debt – Modification and Extinguishments
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In May 2014, the FASB issued new guidance on the recognition of revenue. The guidance stated that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The Company’s adoption of this accounting standard begins with the first quarter of fiscal year 2018. In March and April 2016, the FASB issued further revenue recognition guidance amending principal vs. agent considerations regarding whether an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The Company adopted this guidance on January 1, 2018 using the modified retrospective approach. The cumulative impact to retained earnings was not material. We assessed all of our revenue streams to identify any differences in the timing, measurement or presentation of revenue recognition. The adoption of the new guidance will result in additional disclosures for the period ended in 2018. We derive revenue primarily from sales of ethanol and related co-products in North America, biodiesel and refined glycerin in India based on the agreements and PO contracts. We assessed the following criteria under the guidance. 1) Identify the contracts with customer, 2) identify the performance obligation in the contract, 3) determine the transaction price, 4) allocate the transaction price to the performance obligations in the contract, 5) recognize revenue when the entity satisfies performance obligation. We have contract with J.D. Heiskell and most of our biodiesel and refined glycerin sales are based on raising the purchase order by customer in addition to tender contracts with government and international customers. The performance obligation is to produce ethanol and sell all ethanol to J.D. Heiskell. For biodiesel and refined glycerin, we produce and sell based on purchase order requirements and in case of tender contracts, we need to produce biodiesel with certain identified specifications. Sometimes, commitments can be offered either verbally or in written form in India. The transaction price is determined based on reference market prices for ethanol every day by Kinergy Marketing and for WDG monthly by A.L. Gilbert. The transaction price is determined based on reference market prices for biodiesel and refined glycerin every day. We did not find any other performance obligations other than produce and delivery of ethanol, WDG, biodiesel, and refined glycerin based on the contract or purchase order requirements. Hence there is no transaction price allocation needed. Once delivery of the products happened to the satisfaction of purchase order and contract requirements, we recognize the revenue. We also assessed principal versus agent criteria as we buy our feedstock from our customers and sell our ethanol to J.D. Heiskell and biodiesel to our customers in some contractual agreements. Revenues from sales of ethanol and its co-products 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. Revenues are recorded at the gross invoiced amount. Additionally, our working capital partner leases our finished goods tank and requires us to transfer legal title to the product upon transfer of our finished ethanol to this location. We consider the purchase of corn as a cost of goods sold and the sale of ethanol upon transfer to the finished goods tank as revenue on the basis that (i) we bear the risk of gain or loss on the processing of corn into ethanol and (ii) we have legal title to the goods during the processing time. For biodiesel, we hold the legal title to feedstock came from our customers once it is in our premises. We control the process of it to produce biodiesel based on contract terms and specifications. The pricing for both feedstock and biodiesel set independently. We hold the title and risk to biodiesel as long as it resides on premises. Hence, we are the principal in both scenarios. In February 2016, the FASB issued guidance that amends the existing accounting standards for leases. Consistent with existing guidance, the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification. Under the new guidance, a lessee will be required to recognize right-of-use assets and lease liabilities on the balance sheet. The new guidance is effective for us beginning January 1, 2019, and for interim periods within that year. Early adoption is permitted and we will be required to adopt using a modified retrospective approach. We are evaluating the timing of adoption and the impact of this guidance on our consolidated financial statements and disclosures. In August 2016, the FASB issued amendments to address eight specific cash flow issues with the objective of reducing the existing diversity in practice. The amendments are effective for us beginning January 1, 2018, and for interim periods within that year. Early adoption is permitted. We evaluated the amendments and noted that these amendments will not have a significant impact on the Company’s consolidated financial statements. In November 2016, the FASB issued amendments to require amounts generally described as restricted cash and restricted cash equivalents be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The amendments are effective for us beginning January 1, 2018, and for interim periods within that year. Early adoption is permitted. We evaluated the amendments and noted that these amendments will not have a significant impact on the Company’s consolidated financial statements.

1. Nature of Activities and S24

1. Nature of Activities and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2017
Statement of Operations Data
Schedule of dilutive securities	As of December 31, 2017 December 31, 2016 Series B preferred (post split basis) 132 133 Common stock options and warrants 2,519 1,975 Debt with conversion feature at $30 per share of common stock 1,201 1,168 Total number of potentially dilutive shares excluded from the diluted net loss per share calculation 3,852 3,276

2. Inventories (Tables)

2. Inventories (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure 2.Inventory Tables Abstract
Schedule of Inventories	December 31, 2017 December 31, 2016 Raw materials $ 2,829 $ 1,044 Work-in-progress 1,605 1,360 Finished goods 1,303 837 Total inventories $ 5,737 $ 3,241

3. Property, Plant and Equipm26

3. Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure 3.Property Plant And Equipment Tables Abstract
Schedule of Property, plant and equipment	December 31, 2017 December 31, 2016 Land $ 2,747 $ 2,713 Plant and buildings 82,652 81,755 Furniture and fixtures 1,003 572 Machinery and equipment 3,972 4,308 Construction in progress 941 88 GAFI property, plant & equipment 15,408 - Total gross property, plant & equipment 106,723 89,436 Less accumulated depreciation (27,886 ) (23,066 ) Total net property, plant & equipment $ 78,837 $ 66,370
Depreciation of property, plant, and equipment	Years Plant and buildings 20 - 30 Machinery and equipment 5 - 7 Furniture and fixtures 3 - 5

4. Debt (Tables)

4. Debt (Tables)	12 Months Ended
	Dec. 31, 2017
Wet distiller's grains sales
Schedule of Notes Payable	December 31, 2017 December 31, 2016 Third Eye Capital term notes $ 6,931 $ 6,577 Third Eye Capital revolving credit facility 35,371 24,927 Third Eye Capital revenue participation term notes 11,636 11,042 Third Eye Capital acquisition term notes 20,048 19,085 Cilion shareholder seller notes payable 5,824 5,674 Subordinated notes 8,725 7,565 EB-5 long term promissory notes 36,039 35,027 Unsecured working capital loans 4,861 1,817 GAFI Term and Revolving loans 24,351 - Total debt 153,786 111,714 Less current portion of debt 15,625 11,409 Total long term debt $ 138,161 $ 100,305
Maturities of Long-term Debt	Twelve months ended December 31, Debt Repayments 2018 $ 15,625 2019 48,101 2020 87,360 2021 3,500 2022 824 Total debt 155,410 Discounts (1,624 ) Total debt, net of discounts $ 153,786

5. Commitments and Contingenc28

5. Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2017
Commitments And Contingencies Tables
Schedule of minimum operating lease payments	Twelve months ended December 31, Future Rent Payments 2018 $ 673 2019 697 2020 419 2021 218 Total $ 2,007

6. Variable Interest Entity (Ta

6. Variable Interest Entity (Tables)	12 Months Ended
	Dec. 31, 2017
Variable Interest Entity Tables
Variable interest entity, balance sheet and operations	As of December 31, 2017 Assets Current assets: Cash and cash equivalents $ 184 Prepaid expenses 1,581 Total current assets 1,765 Property, plant and equipment, net 15,408 Promissory note receivable from Aemetis 5,709 Total assets $ 22,882 Liabilities and stockholders' deficit Secured and Revolving notes $ 24,351 Total liabilities $ 24,351 Accumulated deficit (1,469 ) Total liabilities and stockholders' deficit $ 22,882 From July 10, 2017 to December 31, 2017 Selling, general and administrative expenses $ 260 Operating loss $ (260 ) Interest expense Interest rate expense $ 1,249 Amortization expense 250 Other (income) expense (290 ) Net loss $ (1,469 )

7. Stockholders' Equity (Tables

7. Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2017
Stockholders' deficit:
Convertible Preferred Stock	Authorized Shares Issued and Shares Outstanding December 31, 2017 2016 Series B preferred stock 7,235 1,323 1,328 Undesignated 57,765 — — 65,000 1,323 1,328

8. Outstanding Warrants (Tables

8. Outstanding Warrants (Tables)	12 Months Ended
	Dec. 31, 2017
Outstanding Warrants Tables
Weighted average assumptions	Description For the year ended December 31 2017 2016 Dividend-yield 0 % 0 % Risk-free interest rate 1.32 % 0.81 % Expected volatility 68.5 % 71.8 % Expected life (years) 2 2 Market value per share on grant date $ 1.43 $ 2.56 Exercise price per share $ 0.01 $ 0.01 Fair value per share on grant date $ 1.42 $ 2.55
Schedule of warrant activity	Warrants Outstanding & Exercisable Weighted - Average Exercise Price Average Remaining Term in Years Outstanding December 31, 2015 368 $ 3.36 4.61 Granted 227 0.01 Exercised (233 ) 0.01 Expired (18 ) 0.01 Outstanding December 31, 2016 344 $ 3.33 3.88 Granted 227 0.01 Exercised (241 ) 0.01 Expired - 0.01 Outstanding December 31, 2017 330 $ 3.47 3.02

9. Stock-Based Compensation (Ta

9. Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2017
Weighted average dilutive share equivalents from common warrants
Schedule of options granted under employee stock plans	Shares Available for Grant Number of Shares Outstanding Weighted-Average Exercise Price Balance as of December 31, 2016 98 1,632 $ 4.37 Authorized 655 - - Granted (899 ) 899 1.41 Forfeited/expired 342 (342 ) - Balance as of December 31, 2017 196 2,189 $ 2.70
Schedule of weighted average fair value calculations for options	Number of Shares Weighted Average Exercise Price Remaining Contractual Term (In Years) Average Intrinsic Value (1) 2017 Vested and Exercisable 1,515 $ 2.94 5.83 $ - Unvested 674 2.16 8.62 - Total 2,189 $ 2.70 6.68 $ - 2016 Vested and Exercisable 977 $ 5.45 3.28 $ - Unvested 655 2.76 8.66 - Total 1,632 $ 4.37 5.44 $ - ——————— (1) Intrinsic value based on the $0.55 and $1.39 closing price of Aemetis stock on December 31, 2017 and 2016 respectively, as reported on the NASDAQ Exchange.
Schedule of assumptions for weighted-average fair value calculations for options granted	For the years ended December 31, Description 2017 2016 Dividend-yield 0 % 0 % Risk-free interest rate 2.22 % 1.66 % Expected volatility 76.96 % 77.69 % Expected life (years) 6.42 6.99 Market value per share on grant date $ 1.41 $ 2.52 Fair value per share on grant date $ 0.99 $ 1.79

10. Agreements (Tables)

10. Agreements (Tables)	12 Months Ended
	Dec. 31, 2017
Agreements Tables
Schedule of working capital agreement activity	As of and for the years ended December 31, 2017 2016 Ethanol sales $ $ 100,672 95,556 Wet distiller's grains sales 21,742 22,016 Corn oil sales 3,707 2,995 Corn/milo purchases 101,768 91,234 Accounts receivable 1,171 743 Accounts payable 2,449 1,821

11. Segment Information (Tables

11. Segment Information (Tables)	12 Months Ended
	Dec. 31, 2017
Segment Information Tables
Schedule of segment information	2017 North America India Total Consolidated Revenues $ 136,739 $ 13,418 $ 150,157 Cost of goods sold 133,606 13,176 146,782 Gross profit 3,133 242 3,375 Expenses Research and development expenses 2,367 - 2,367 Selling, general and administrative expenses 12,134 1,057 13,191 Interest expense 18,991 313 19,304 Other (income) expense 328 (51 ) 277 Loss before income taxes $ (30,687 ) $ (1,077 ) $ (31,764 ) Capital Expenditures $ 802 $ 314 $ 1,116 Depreciation 4,001 621 4,622 Total Assets 80,479 13,852 94,331 2016 North America India Total Consolidated Revenues $ 128,706 $ 14,452 $ 143,158 Cost of goods sold 117,040 14,519 131,559 Gross profit (loss) 11,666 (67 ) 11,599 Expenses Research and development expenses 369 - 369 Selling, general and administrative expenses 10,912 1,099 12,011 Interest expense 16,957 259 17,216 Gain on debt extinguishment - (2,033 ) (2,033 ) Other (income) expense (254 ) (80 ) (334 ) Income (Loss) before income taxes $ (16,318 ) $ 688 $ (15,630 ) Capital Expenditures $ 198 $ 431 $ 629 Depreciation 4,067 603 4,670 Total Assets 67,279 10,531 77,810

13. Income Tax (Tables)

13. Income Tax (Tables)	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
U.S. loss and foreign loss before income taxes	Year Ended December 31, 2017 2016 United States (30,687 ) (16,318 ) Foreign (1,077 ) 688 Pretax Income (31,764 ) (15,630 )
Effective tax rate	Year Ended December 31, 2017 2016 Income tax expense (benefit) at the federal statutory rate (10,799 ) (5,314 ) Tax Rate Re-measurement - 2017 Tax Cut 19,600 - State tax expense (benefit) (1,689 ) (775 ) Foreign tax differential 1,154 (401 ) Stock-based compensation 299 152 Interest expense 33 26 Other (24 ) 127 Credits (24 ) (24 ) Valuation allowance (8,544 ) 6,215 Income Tax Expense 6 6 Effective Tax Rate -0.02 % -0.04 %
Components of the net deferred tax asset or (liability)	Year Ended December 31, 2017 2016 Org, Start-up and Intangible Assets 5,045 7,435 Stock Based Comp 223 185 Prop., Plant, and Equip. (14,551 ) (21,639 ) NOLs and R&D Credits 53,874 66,698 Convertible Debt - (5 ) Ethanol Credits 1,500 1,500 Debt Extinguishment 91 612 Other, net 545 620 Subtotal 46,727 55,406 Valuation Allowance (46,727 ) (55,406 ) Deferred tax assets (liabilities) - -
Open tax years, by major tax jurisdiction	United States — Federal 2007 – present United States — State 2008– present India 2010 – present Mauritius 2010 – present

14. Parent Company Financial 36

14. Parent Company Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Parent Balance Sheets	Assets 2017 2016 Current assets Cash and cash equivalents $ 29 $ - Receivables due from subsidiaries 6,946 12,244 Prepaid expenses 251 270 Total current assets 7,226 12,514 Property, plant and equipment, net 15 27 Other assets 54 54 Total Assets $ 7,295 $ 12,595 Liabilities & stockholders' deficit Current liabilities Accounts payable $ 3,568 $ 3,039 Mandatorily redeemable Series B convertible preferred 2,946 2,844 GAFI- payables 3,357 - Other current liabilities 1,679 1,419 Total current liabilities 11,550 7,302 Subsidiary obligation in excess of investment Investment in AE Advanced Fuels, Inc. 69,273 49,694 Investment in Aemetis Americas, Inc 205 205 Investment in Aemetis Biofuels, Inc. 2,738 2,738 Investment in Aemetis Technologies, Inc. 2,947 2,405 Investment in AE Advanced Fuels Goodland , Inc. 100 51 Investment in AE Advanced Products Keyes , Inc. (1,617 ) 113 Investment in Biofuels Marketing, Inc. 349 349 Investment in Aemetis International, Inc. 142 (449 ) Total subsidiary obligation in excess of investment 74,137 55,106 Total long term liabilities 74,137 55,106 Stockholders' deficit Series B Preferred convertible stock 1 1 Common stock 20 20 Additional paid-in capital 84,679 83,441 Accumulated deficit (160,188 ) (129,887 ) Accumulated other comprehensive loss (2,904 ) (3,388 ) Total stockholders' deficit (78,392 ) (49,813 ) Total liabilities & stockholders' deficit $ 7,295 $ 12,595
Schedule Parent Statements of Operations and Comprehensive Loss	2017 2016 Equity in subsidiary losses $ (22,341 ) $ (10,272 ) Selling, general and administrative expenses 7,317 4,818 Operating loss (29,658 ) (15,090 ) Other expense Interest expense 503 278 Other expense 134 262 Loss before income taxes (30,295 ) (15,630 ) Income tax expense 6 6 Net loss (30,301 ) (15,636 ) Other comprehensive loss Foreign currency translation adjustment 484 (209 ) Comprehensive loss $ (29,817 ) $ (15,845 )
Parent Statements of Cash Flows	2017 2016 Operating activities: Net loss (30,301 ) (15,636 ) Adjustments to reconcile net loss to net cash used in operating activities: Stock-based compensation 1,101 747 Stock issued for services 118 - Depreciation 6 (25 ) Subsidiary portion of net losses 22,341 10,272 Changes in assets and liabilities: Prepaid expenses 19 45 Accounts payable 529 293 Accrued interest expense 503 284 Other liabilities 64 104 Net cash used in operating activities (5,620 ) (3,916 ) Investing activities: Subsidiary advances, net 5,149 3,916 Net cash provided by investing activities 5,149 3,916 Financing activities: Proceeds from borrowings under secured debt facilities 500 - Net cash provided by financing activities 500 - Net increase in cash and cash equivalents 29 - Cash and cash equivalents at beginning of period - - Cash and cash equivalents at end of period $ 29 $ - Supplemental disclosures of cash flow information, cash paid: Interest payments - - Income tax expense 6 6 Supplemental disclosures of cash flow information, non-cash transactions: Fair value of warrants issued to subordinated debt holders 321 579 Repurchase of common stock added to TEC promissory note 451 - Settlement of accounts payable through transfer of equipment - 66 Settlement of subordinated debt through issuing stock 132 - Payment of TEC bridge loan added to GAFI Revolving loan 3,669 -

1. Nature of Activities and S37

1. Nature of Activities and Summary of Significant Accounting Policies (Details) - shares	Dec. 31, 2017	Dec. 31, 2016
Nature Of Activities And Summary Of Significant Accounting Policies Details
Series B preferred (1:10 post split basis)	132	133
Common stock options and warrants	2,519	1,975
EB-5 debt convertible to Common stock at $30 per share	1,201	1,168
Total number of potentially dilutive shares excluded from the basic and diluted net loss per share calculation	3,852	3,276

2. Inventories (Details)

2. Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Inventories Details
Raw materials	$ 2,829	$ 1,044
Work-in-progress	1,605	1,360
Finished goods	1,303	837
Total inventory	$ 5,737	$ 3,241

3. Property, Plant and Equipm39

3. Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Property Plant And Equipment Details
Land	$ 2,747	$ 2,713
Plant and Buildings	82,652	81,755
Furniture and fixtures	1,003	572
Machinery and equipment	3,972	4,308
Construction in progress	941	88
GAFI property, plant & equipment	15,408	0
Total gross property, plant & equipment	106,723	89,436
Less accumulated depreciation	(27,886)	(23,066)
Total net property, plant & equipment	$ 78,837	$ 66,370

3. Property, Plant and Equipm40

3. Property, Plant and Equipment (Details 1)	12 Months Ended
	Dec. 31, 2017
Plant and buildings | Minimum
Useful life	20 years
Plant and buildings | Maximum
Useful life	30 years
Machinery & Equipment | Minimum
Useful life	5 years
Machinery & Equipment | Maximum
Useful life	7 years
Furniture & Fixtures | Minimum
Useful life	3 years
Furniture & Fixtures | Maximum
Useful life	5 years

3. Property, Plant and Equipm41

3. Property, Plant and Equipment (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Property Plant And Equipment Details Narrative
Depreciation expense	$ 4,622	$ 4,670

4. Debt (Details)

4. Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Total revenues
Third Eye Capital term note	$ 6,931	$ 6,577
Third Eye Capital revolving credit facility	35,371	24,927
Third Eye Capital revenue participation term note	11,636	11,042
Third Eye Capital acquisition term note	20,048	19,085
Cilion shareholder Seller note payable	5,824	5,674
Subordinated notes	8,725	7,565
EB-5 long term promissory notes	36,039	35,027
Unsecured working capital loans	4,861	1,817
GAFI Term and Revolving loans	24,351	0
Total debt	153,786	111,714
Less current portion of debt	15,625	11,409
Total long term debt	$ 138,161	$ 100,305

4. Debt (Details 1)

4. Debt (Details 1) $ in Thousands	Dec. 31, 2017USD ($)
For the twelve months ending
2,018	$ 15,625
2,019	48,101
2,020	87,360
2,021	2,400
2,022	824
Total debt	155,410
Discounts	(1,624)
Total debt, net of discounts	$ 153,786

4. Debt (Details Narrative)

4. Debt (Details Narrative) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Cilion shareholder Seller note payable
Principal and interest outstanding	$ 5,800
Third Eye Capital Term Notes
Principal and interest outstanding	6,900
Third Eye Capital Revolving Credit Facility
Principal and interest outstanding	35,400
Third Eye Capital Revenue Participation Term Notes
Principal and interest outstanding	11,600
Third Eye Capital Acquisition Term Notes
Principal and interest outstanding	20,000
Subordinated Notes
Principal and interest outstanding	8,700	$ 7,600
EB-5 long-term promissory notes
Principal Outstanding	34,500
Interest Outstanding	1,500
Secunderabad Oils
Principal and interest outstanding	$ 1,300	$ 300

5. Commitments and Contingenc45

5. Commitments and Contingencies (Details) $ in Thousands	Dec. 31, 2017USD ($)
Commitments And Contingencies Details
2,018	$ 673
2,019	697
2,020	419
2,021	218
Total	$ 2,007

5. Commitments and Contingenc46

5. Commitments and Contingencies (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Commitments And Contingencies Details Narrative
Rent expense	$ 600	$ 500

6. Variable Interest Entity (De

6. Variable Interest Entity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 428	$ 1,486	$ 283
Prepaid expenses	2,435	555
Total current assets	11,462	7,045
Property, plant and equipment, net	78,837	66,370
Total assets	94,331	77,810
Liabilities and stockholder's deficit
Accumulated deficit	(160,188)	(129,887)
Total liabilities and stockholder's deficit	94,331	77,810
Selling, general and administrative expenses	13,191	12,011
Operating loss	(12,183)	(781)
Interest expense
Interest rate expense	19,304	17,216
Other (income) expense	277	(334)
Net loss	(31,770)	$ (15,636)
GAFI
Current assets:
Cash and cash equivalents	184
Prepaid expenses	1,581
Total current assets	1,765
Property, plant and equipment, net	15,408
Promissory note receivable from Aemetis	5,709
Total assets	22,882
Liabilities and stockholder's deficit
Secured and Revolving notes	24,351
Total liabilities	24,351
Accumulated deficit	(1,469)
Total liabilities and stockholder's deficit	22,882
Selling, general and administrative expenses	260
Operating loss	(260)
Interest expense
Interest rate expense	1,249
Amortization expense	250
Other (income) expense	(290)
Net loss	$ (1,469)

7. Stockholders Equity' (Detail

7. Stockholders Equity' (Details) - shares	Dec. 31, 2017	Dec. 31, 2016
Authorized Shares	65,000
Shares Issued and Outstanding December 31,	1,323	1,328
Undesignated
Authorized Shares	57,765
Shares Issued and Outstanding December 31,	0	0
Series B Preferred Stock
Authorized Shares	7,235
Shares Issued and Outstanding December 31,	1,323	1,328

8. Outstanding Warrants (Detail

8. Outstanding Warrants (Details) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Outstanding Warrants Details
Dividend yield	0.00%	0.00%
Risk-free interest rate	1.32%	0.81%
Expected volatility	68.50%	71.80%
Expected life (years)	2 years	2 years
Market value per share on grant date	$ 1.43	$ 2.56
Exercise price per share	.01	.01
Fair value per share on grant date	$ 1.42	$ 2.55

8. Outstanding Warrants (Deta50

8. Outstanding Warrants (Details 1) - Warrants - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Number Outstanding, Beginning	344	368
Number of Warrants Granted	227	277
Number of Warrants Exercised	(241)	(233)
Number of Warrants Expired	0	(18)
Number of Outstanding, Ending	330	344
Weighted Average Exercise Price Outstanding, Beginning	$ 3.33	$ 3.36
Weighted Average Exercise Price Granted	.01	0.01
Weighted Average Exercise Price Exercised	.01	0.01
Weighted Average Exercise Price Expired	.01	0.01
Weighted Average Exercise Price Outstanding, Ending	$ 3.47	$ 3.33
Weighted Average Remaining Contractual Life (in years) Outstanding, Beginning	3 years 10 months 17 days	4 years 7 months 10 days
Weighted Average Remaining Contractual Life (in years) Outstanding, Ending	3 years 7 days	3 years 10 months 17 days

9. Stock-Based Compensation (De

9. Stock-Based Compensation (Details) - Options	12 Months Ended
	Dec. 31, 2017$ / sharesshares
Number of Shares Available, Beginning	98
Number of Share Authorized	655
Number of Shares Granted	(899)
Number of Shares Forfeited/Expired	342
Number of Shares Available, Ending	196
Number Outstanding, Beginning	1,632
Number of Shares Granted	899
Number of Shares Forfeited/Expired	(342)
Number of Shares Outstanding, Ending	2,189
Weighted Average Exercise Price Outstanding, Beginning | $ / shares	$ 4.37
Weighted Average Exercise Price Granted | $ / shares	1.41
Weighted Average Exercise Price Forfeited/Expired | $ / shares	0
Weighted Average Exercise Price Outstanding, Ending | $ / shares	$ 2.70

9. Stock-Based Compensation (52

9. Stock-Based Compensation (Details 1) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016
Options
Number of Outstanding, Ending		2,189	1,632
Weighted Average Exercise Price Outstanding, Ending		$ 2.70	$ 4.37
Remaining Contractual Term (In Years)		6 years 8 months 5 days	5 years 5 months 8 days
Average Intrinsic Value	[1]	$ 0	$ 0
Vested Options
Number of Outstanding, Ending		1,515	977
Weighted Average Exercise Price Outstanding, Ending		$ 2.94	$ 5.45
Remaining Contractual Term (In Years)		5 years 9 months 29 days	3 years 3 months 11 days
Average Intrinsic Value	[1]	$ 0	$ 0
Unvested Options
Number of Outstanding, Ending		674	655
Weighted Average Exercise Price Outstanding, Ending		$ 2.16	$ 2.76
Remaining Contractual Term (In Years)		8 years 7 months 13 days	8 years 7 months 28 days
Average Intrinsic Value	[1]	$ 0	$ 0
[1]	Intrinsic value based on the $0.55 and $1.39 closing price of Aemetis stock on December 31, 2017 and 2016 respectively, as reported on the NASDAQ Exchange.

9. Stock-Based Compensation (53

9. Stock-Based Compensation (Details 2) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Market value per share on grant date	$ 1.43	$ 2.56
Equity Option [Member]
Dividend-yield	0.00%	0.00%
Risk-free interest rate	2.22%	1.66%
Expected volatility	76.96%	77.69%
Expected life (years)	6 years 5 months 1 day	6 years 11 months 26 days
Market value per share on grant date	$ 1.41	$ 2.52
Weighted average fair value per share of common stock	$ .99	$ 1.79

10. Agreements (Details)

10. Agreements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Agreements Details
Ethanol sales	$ 100,672	$ 95,556
Wet distiller's grains sales	21,742	22,016
Corn oil sales	3,707	2,995
Corn/Milo purchases	101,768	91,234
Accounts receivable	1,171	743
Accounts payable	$ 2,449	$ 1,821

11. Segment Information (Detail

11. Segment Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Revenues	$ 150,157	$ 143,158
Cost of goods sold	146,782	131,559
Gross profit	3,375	11,599
Expenses
Research and development expenses	2,367	369
Selling, general and administrative expenses	13,191	12,011
Interest expense	19,304	17,216
Gain on debt extinguishment	0	(2,033)
Other (income) expense	277	(334)
Loss before income taxes	(31,764)	(15,630)
Capital Expenditures	1,116	629
Depreciation	4,622	4,670
Total Assets	94,331	77,810
North America
Revenues	136,739	128,706
Cost of goods sold	133,606	117,040
Gross profit	3,133	11,666
Expenses
Research and development expenses	2,367	369
Selling, general and administrative expenses	12,134	10,912
Interest expense	18,991	16,957
Gain on debt extinguishment		0
Other (income) expense	328	(254)
Loss before income taxes	(30,687)	(16,318)
Capital Expenditures	802	198
Depreciation	4,001	4,067
Total Assets	80,479	67,279
India
Revenues	13,418	14,452
Cost of goods sold	13,176	14,519
Gross profit	242	(67)
Expenses
Research and development expenses	0	0
Selling, general and administrative expenses	1,057	1,099
Interest expense	313	259
Gain on debt extinguishment		(2,033)
Other (income) expense	(51)	(80)
Loss before income taxes	(1,077)	688
Capital Expenditures	314	431
Depreciation	621	603
Total Assets	$ 13,852	$ 10,531

12. Related Party Transactions

12. Related Party Transactions (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Eric McAfee and McAfee Capital
Related party debt	$ 400	$ 400
Related party transaction	100	100
Board Members
Related party debt	1,700	1,500
Related party transaction	$ 400	$ 400

13. Income Tax (Details)

13. Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
United States	$ (30,687)	$ (16,316)
Foreign	(1,077)	688
Pretax Income	$ (31,764)	$ (15,630)

13. Income Tax (Details 1)

13. Income Tax (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income tax expense (benefit) at the federal statutory rate	$ (10,799)	$ (5,314)
Tax Rate Re-measurement - 2017 Tax Cut	19,600	0
State tax expense (benefit)	(1,689)	(775)
Foreign tax rate differential	1,154	(401)
Stock-based compensation	299	152
Interest Expense	33	26
Other	(24)	127
Credits	(24)	(24)
Valuation Allowance	(8,544)	6,215
Income Tax Expense	$ 6	$ 6
Effective Tax Rate	(0.02%)	(0.04%)

13. Income Tax (Details 2)

13. Income Tax (Details 2) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Deferred Tax Assets & (Liabilities):
Organization, start-up costs & intangible assets	$ 5,045	$ 7,435
Stock-based compensation	223	185
Property, plant and equipment	(14,551)	(21,639)
Net operating loss carryforward and Credits	53,874	66,698
Convertible debt	0	(5)
Ethanol Credits	1,500	1,500
Debt extinguishment	91	612
Other, net	545	620
Subtotal	46,727	55,406
Valuation Allowance	(46,727)	(55,406)
Deferred tax assets (liabilities)	$ 0	$ 0

13. Income Tax (Details Narrati

13. Income Tax (Details Narrative) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Undistributed earnings of the Company's foreign subsidiaries	$ 12,000	$ 10,900
Federal
Operating loss carryforwards	188,000
State
Operating loss carryforwards	$ 178,000

14. Parent Company Financial 61

14. Parent Company Financial Statements (Unaudited) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current assets
Prepaid expenses	$ 2,435	$ 555
Total current assets	11,462	7,045
Property, plant and equipment, net	78,837	66,370
Other assets	4,032	4,395
Total Assets	94,331	77,810
Liabilities & stockholders' deficit
Accounts payable	10,457	7,842
GAFI- payables	24,351	0
Other current liabilities	3,311	2,473
Total current liabilities	36,016	27,216
Subsidiary obligation in excess of investment
Total long term liabilities	138,161	100,305
Stockholders' deficit
Series B Preferred convertible stock	1	1
Common stock	20	20
Additional paid-in capital	84,679	83,441
Accumulated deficit	(160,188)	(129,887)
Accumulated other comprehensive loss	(2,904)	(3,388)
Total stockholders' deficit	(78,392)	(49,813)
Total liabilities & stockholders' deficit	94,331	77,810
Parent Company Financial Statements
Current assets
Cash and cash equivalents	29	0
Receivables due from subsidiaries	6,946	12,244
Prepaid expenses	251	270
Total current assets	7,226	12,514
Property, plant and equipment, net	15	27
Other assets	54	54
Total Assets	7,295	12,595
Liabilities & stockholders' deficit
Accounts payable	3,568	3,039
Mandatorily redeemable Series B convertibe preferred	2,946	2,844
GAFI- payables	3,357	0
Other current liabilities	1,679	1,419
Total current liabilities	11,550	7,302
Subsidiary obligation in excess of investment
Investment in AE Advanced Fuels, Inc.	69,273	49,694
Investment in Aemetis Americas, Inc	205	205
Investment in Aemetis Biofuels, Inc.	2,738	2,738
Investment in Aemetis Technologies, Inc.	2,947	2,405
Investment in AE Advanced Fuels Goodland , Inc.	100	51
Investment in AE Advanced Products Keyes , Inc.	(1,617)	113
Investment in Biofuels Marketing, Inc.	349	349
Investment in Aemetis International, Inc.	142	(449)
Total subsidiary obligation in excess of investment	74,137	55,106
Total long term liabilities	74,137	55,106
Stockholders' deficit
Series B Preferred convertible stock	1	1
Common stock	20	20
Additional paid-in capital	84,679	83,441
Accumulated deficit	(160,188)	(129,887)
Accumulated other comprehensive loss	(2,904)	(3,388)
Total stockholders' deficit	(78,392)	(49,813)
Total liabilities & stockholders' deficit	$ 7,295	$ 12,595

14. Parent Company Financial 62

14. Parent Company Financial Statements (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Selling, general and administrative expenses	$ 13,191	$ 12,011
Operating loss	(12,183)	(781)
Other expense
Interest expense	19,304	17,216
Other income (expense)	(277)	334
Loss before income taxes	(31,764)	(15,630)
Income tax expense	(6)	(6)
Other comprehensive loss
Foreign currency translation adjustment	484	(209)
Comprehensive loss	(31,286)	(15,845)
Parent Company Financial Statements
Equity in subsidiary losses	(22,341)	(10,272)
Selling, general and administrative expenses	737	4,818
Operating loss	(29,658)	(15,090)
Other expense
Interest expense	503	278
Other income (expense)	134	262
Loss before income taxes	(30,295)	(15,630)
Income tax expense	6	6
Net loss	(30,301)	(15,636)
Other comprehensive loss
Foreign currency translation adjustment	484	(209)
Comprehensive loss	$ (29,817)	$ (15,845)

14. Parent Company Financial 63

14. Parent Company Financial Statements (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Operating activities:
Net loss	$ (31,770)	$ (15,636)
Adjustments to reconcile net loss to net cash provided by (used in) operating activitites:
Stock-based compensation	1,101	747
Stock issued for services	118	0
Depreciation	4,622	4,670
Changes in operating assets and liabilities:
Prepaid expenses	371	(28)
Accounts payable	2,580	(2,097)
Accrued interest expense	10,812	6,448
Other liabilities	1,497	474
Net cash used in operating activities	(8,688)	371
Investing activities:
Net cash used in investing activities	(1,116)	(629)
Financing activities:
Net cash provided by financing activities	8,375	1,627
Net cash and cash equivalents increase (decrease) for period	(1,058)	1,203
Cash and cash equivalents at beginning of period	1,486	283
Cash and cash equivalents at end of period	428	1,486
Supplemental disclosures of cash flow information, cash paid:
Interest payments	3,092	4,894
Income tax expense	6	6
Supplemental disclosures of cash flow information, non-cash transactions:
Fair value of warrants issued to subordinated debt holders	321	579
Repurchase of common stock added to TEC promissory note	451	0
Settlement of accounts payable through transfer of equipment	0	66
Settlement of subordinated debt through issuing stock	132	0
Payment of TEC bridge loan added to GAFI Revolving loan	3,669	0
Parent Company Financial Statements
Operating activities:
Net loss	(30,301)	(15,636)
Adjustments to reconcile net loss to net cash provided by (used in) operating activitites:
Stock-based compensation	1,101	747
Stock issued for services	118	0
Depreciation	6	(25)
Subsidiary portion of net losses	22,341	10,272
Changes in operating assets and liabilities:
Prepaid expenses	19	45
Accounts payable	529	293
Accrued interest expense	503	284
Other liabilities	64	104
Net cash used in operating activities	(5,620)	(3,916)
Investing activities:
Subsidiary advances, net	5,149	3,916
Net cash used in investing activities	5,149	3,916
Financing activities:
Proceeds from borrowings under secured debt facilities	500	0
Net cash provided by financing activities	500	0
Net cash and cash equivalents increase (decrease) for period	29	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	29	0
Supplemental disclosures of cash flow information, cash paid:
Interest payments	0	0
Income tax expense	6	6
Supplemental disclosures of cash flow information, non-cash transactions:
Fair value of warrants issued to subordinated debt holders	321	579
Repurchase of common stock added to TEC promissory note	451	0
Settlement of accounts payable through transfer of equipment	0	66
Settlement of subordinated debt through issuing stock	132	0
Payment of TEC bridge loan added to GAFI Revolving loan	$ 3,669	$ 0