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5. Operating Leases

6 Months Ended

Jun. 30, 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 June 30, 2012 are adjusted for the elimination of the inter-company Keyes lease payments through merger discussed in Note 10. Subsequent Events. See following for future minimum lease payments.

For the twelve months ended June 30	Future Rent Payments
2013	$	401,916
2014		386,012
2015		371,368
Total	$	1,159,296

For the three and six months ended June 30, 2012, the Company recognized rent expense of $852,431 and $1,667,483, respectively, under existing operating leases. For the three and six months ended June 30, 2011, the Company recognized rent expense of $817,648 and $1,632,700, 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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