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7. Operating Leases
 12 Months Ended
Dec. 31, 2012
Commitments and Contingencies Disclosure [Abstract]  
7. Operating Leases

7. Operating Leases

 

As of December 31, 2012, 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:

 

For the twelve months ended December 31,
2013    $  421,089  
2014      366,749  
2015      154,737  
Total   $  942,575  

 

In July 2009, the Company entered into a sublease agreement with Nevo Energy, Inc. (formerly known as Solargen Energy, Inc.) for approximately 3,000 square feet of leased space. For the years ending December 31, 2012 and 2011, the Company invoiced Nevo Energy $35,696 and $86,291, respectively in rents due, but reserved all the payments due to Nevo Energy’s inability to pay. See Note 16 Related Party Transactions.

 

On December 1, 2009, the Company entered into a lease for a 55 million gallon nameplate ethanol facility located in Keyes, California 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, California ethanol plant. As a result, no additional lease obligations remain on the ethanol plant lease after the acquisition date.

 

For the years ended December 31, 2012 and 2011, the Company recognized rent expense of $2,170,824 and $3,314,712, respectively.