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5. Operating Leases

3 Months Ended

Mar. 31, 2012

Commitments and Contingencies Disclosure [Abstract]

The Company, through its subsidiaries, has non-cancelable operating leases for office space in Cupertino and India. Future minimum operating lease payments as of March 31, 2012 as adjusted for the elimination of the inter-company Keyes lease payments through merger discussed in Note 10. Subsequent Events are approximately $1,047,661 through the year ended December 31, 2012. Future rent payments through 2015, when our corporate lease expires, follows:

For the twelve months ended March 31,	Future Rent Payments

2013		1,150,596
2014		398,877
2015		360,282
Total	$	1,909,755

For the three months ended March 31, 2012 and 2011, the Company recognized lease and rent expense of $828,219 and $818,693, respectively, under existing operating leases.

On December 1, 2009, the Company entered into a lease for a 55 million gallon nameplate ethanol facility located in Keyes, CA for a term of 36 months at a monthly lease payment of $250,000. The Lease term and rental began upon substantial completion of the repair and retrofit of the plant on April 1, 2011, which was amended in April 2012 to a 60 month term ending March 2016. On July 6, 2012, Aemetis, Inc. acquired the Keyes, CA ethanol plant. As a result, no additional lease obligations remain for the ethanol plant lease after the acquisition date. See Note 10. Subsequent Events.

- Definition

The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights.

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