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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Assets    
Cash and cash equivalents $ 133,398 $ 219,444
Accounts receivable, inclusive of the blenders’ tax credit of $3,964 and $11,381, respectively, and net of allowances for expected credit losses of $136 and $55, respectively 15,967 28,406
Accounts receivable – related parties 0 1
Inventory, net 24,878 32,978
Income tax receivable 0 1,940
Prepaid expenses 964 4,346
Prepaid expenses – related parties 12 12
Other current assets 1,018 3,419
Total current assets 176,237 290,546
Property, plant and equipment, net 76,815 72,711
Other assets 3,414 3,824
Total noncurrent assets 80,229 76,535
Total Assets 256,466 367,081
Liabilities and Stockholders’ Equity    
Accounts payable 11,587 22,178
Accounts payable – related parties 124 42
Income tax payable 359 0
Deferred revenue – current 4,135 3,863
Dividends payable 2,626 10,503
Accrued expenses and other current liabilities 10,820 4,758
Total current liabilities 29,651 41,344
Deferred revenue – non-current 9,593 12,570
Noncurrent deferred income taxes 618 0
Other noncurrent liabilities 3,313 3,287
Total noncurrent liabilities 13,524 15,857
Total liabilities 43,175 57,201
Commitments and contingencies (See Note 13)
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, none issued and outstanding 0 0
Common stock, $0.0001 par value, 75,000,000 shares authorized, 43,763,243 shares issued and outstanding as of September 30, 2024 and December 31, 2023 4 4
Additional paid in capital 204,911 282,489
Retained earnings 8,376 27,387
Total stockholders’ equity 213,291 309,880
Total Liabilities and Stockholders’ Equity $ 256,466 $ 367,081