XML 34 R20.htm IDEA: XBRL DOCUMENT

Note 14 - Parent Company Financial Statements (Unaudited)

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

14. Parent Company Financial Statements (Unaudited)

We conduct substantially all of our operations through subsidiaries and are dependent on cash distributions, dividends and other intercompany transfers of funds from our operations. Our subsidiaries have not made significant distributions to us and may not have funds available for dividends or distributions in the future. The ability of our subsidiaries to transfer funds to us will be dependent upon their respective abilities to achieve sufficient cash flows after satisfying their respective cash requirements, including subsidiary level debt service on their respective credit agreements. The following is a summary of the Parent Company Financial statements.

Aemetis, Inc. (Parent Company)

Balance Sheets

As of December 31, 2022 and 2021

		*2022*				*2021*
Assets
Current assets
Cash and cash equivalents		$	286			$	-
Receivables due from subsidiaries			98,780				93,571
Prepaid expenses			611				290
Other current assets			7				116
Total current assets			99,684				93,977

Investment in Aemetis Property Keyes, Inc.			1,274				496
Investment in Aemetis International, Inc.			6,659				2,546
Investment in Aemetis Advanced Products Riverbank, Inc.			173				23
Investment in Aemetis Carbon Capture, Inc.			-				54
Total investments in Subsidiaries, net of advances			8,106				3,119

Property, plant and equipment, net			135				36
Other assets			2,377				2,475
Total Assets		$	110,302			$	99,607

Liabilities & stockholders' deficit
Current liabilities
Accounts payable		$	2,934			$	3,024
Mandatorily redeemable Series B convertible preferred			4,082				3,806
Other current liabilities			4,269				9,521
Total current liabilities			11,285				16,351

Long term liabilities:
Operating lease liability			2,047				2,318
Subsidiary obligation in excess of investment
Investment in AE Advanced Fuels, Inc.			177,856				150,424
Investment in Aemetis Americas, Inc			205				205
Investment in Aemetis Biofuels, Inc.			2,738				2,738
Investment in Aemetis Technologies, Inc.			4,716				4,536
Investment in AE Advanced Products Keyes , Inc.			270				383
Investment in Aemetis Health Products, Inc.			2,076				2,137
Investment in Goodland Advanced Fuels, Inc.			16,869				13,587
Investment in Aemetis Biogas LLC			91,292				27,166
Investment in Aemetis Carbon Capture Inc			2,323				-
Investment in Aemetis Properties Riverbank, Inc.			479				-
Total subsidiary obligation in excess of investment			298,824				201,176

Total long term liabilities			300,871				203,494

Stockholders' deficit
Series B Preferred convertible stock			1				1
Common stock			36				33
Additional paid-in capital			232,546				205,305
Accumulated deficit			(428,985	)			(321,227	)
Accumulated other comprehensive loss			(5,452	)			(4,350	)
Total stockholders' deficit			(201,854	)			(120,238	)
Total liabilities & stockholders' deficit		$	110,302			$	99,607

Aemetis, Inc. (Parent Company)

Statements of Operations and Comprehensive Loss

For the Years Ended December 31, 2022 and 2021

		*2022*				*2021*

Equity in subsidiary losses		$	(91,561	)		$	(34,400	)
Selling, general and administrative expenses			15,203				11,806

Operating loss			(106,764	)			(46,206	)

Other (income) expense
Interest expense			806				1,031
Debt related fees and amortization expense			1,581				-
Other income			(1,400	)			(97	)

Loss before income taxes			(107,751	)			(47,140	)

Income tax expense			7				7

Net loss			(107,758	)			(47,147	)

Other comprehensive loss
Foreign currency translation adjustment			(1,102	)			(27	)
Comprehensive loss		$	(108,860	)		$	(47,174	)

Aemetis, Inc. (Parent Company)

Statements of Cash Flows

For the years ended December 31, 2022 and 2021

		*2022*				*2021*
Operating activities:
Net loss			(107,758	)			(47,147	)
Adjustments to reconcile net loss to net cash used in operating activities:

Stock-based compensation			6,410				3,928
Depreciation			29				8
Debt related fees and amortization expense			1,776				-
Subsidiary portion of net losses			91,561				34,400
Gain on debt extinguishment			-				(421	)
Gain on litigation			(1,400	)			-
Changes in assets and liabilities:
Prepaid expenses			111				(38	)
Accounts payable			(90	)			(1,043	)
Accrued interest expense			778				998
Other liabilities			(4,625	)			(902	)
Other assets			207				109
Net cash used in operating activities			(13,001	)			(10,108	)

Investing activities:
Capital expenditures			(128	)			-
Subsidiary advances, net			1,222				(95,105	)
Net cash provided by (used in) investing activities			1,094				(95,105	)

Financing activities:
Proceeds from the exercise of stock options			206				1,304
Proceeds from issuance of common stock in equity offering			11,987				103,591
Net cash provided by financing activities			12,193				104,895

Net increase in cash, cash equivalents, and restricted cash			286				(318	)
Cash, cash equivalents and restricted cash at beginning of period			-				318
Cash, cash equivalents, and restricted cash at end of period		$	286			$	-

Supplemental disclosures of cash flow information, cash paid:
Income taxes paid			7				7

Supplemental disclosures of cash flow information, non-cash transactions:

Fair value of warrants issued to subordinated debt holders			1,939				1,546
Fair value of stock issued to a related party for guarantee fees			2,012				-
Fair value of warrants issued for capital expenditures			-				1,344
Fair value of warrants issued to lender for debt issuance costs			3,158				-
Fair value of stock issued to lender			1,335				-
Issuance of equity to pay off accounts payable			-				893