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Note 10 - Warrants to Purchase Common Stock
 9 Months Ended
Sep. 30, 2025
Notes to Financial Statements  
Outstanding Warrants [Text Block]

10. Warrants to Purchase Common Stock

 

On June 30, 2025, the maturity dates on two accredited investor's Subordinated Notes were extended to December 31, 2025. In connection with the extension, we issued the noteholders warrants exercisable for the purchase of 113 thousand shares of Aemetis, Inc. common stock with a term of two years and an exercise price of $0.01 per share. The warrants were fully exercised in July 2025.

 

The following table summarizes warrant activity during the nine months ending September 30, 2025:

 

  

Warrants Outstanding & Exercisable

  

Weighted - Average Exercise Price

  

Average Remaining Term in Years

 

Outstanding December 31, 2024

  530  $11.70   4.78 

Granted

  226   0.01     

Exercised

  (226)  0.01     

Outstanding September 30, 2025

  530  $11.70   4.03 

 

All of the above outstanding warrants are fully vested and exercisable as of September 30, 2025.

 

The fair value calculations for issued warrants are based on the following weighted average factors:

 

  

For the nine months ended September 30,

 

Description

 

2025

  

2024

 

Dividend-yield

  -%  -%

Risk-free interest rate

  3.99%  4.50%

Expected volatility

  90.48%  99.85%

Expected life (years)

  2.00   2.00 

Exercise price per share

 $0.01  $0.01 

Market value per share on grant date

 $2.59  $4.05 

Fair value per share on grant date

 $2.58  $4.04