Company: AMTX
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001437749-25-033667
Chunk: 14

Company: AEMETIS, INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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 December 31, 2024, $4.5 million was outstanding on the notes under the EB-5 Phase II funding, respectively.
    
   In  July 2024, in connection with settlement of litigation initiated by a broker previously engaged by Advanced BioEnergy, LP, we entered into an agreement to pay the broker certain of its claimed fees. In  April 2025, that broker initiated litigation against Aemetis, Inc. to collect $2.3 million (plus interest and fees) under the agreement. The liability previously accrued for the amount at issue in the litigation has been reclassified from debt as of  December 31, 2024, to other current liabilities as of  September 30, 2025.

       11

        (Tabular data in thousands, except par value and per share data)

   India Biodiesel Secured and Unsecured Loans. On  November 13, 2023, the Company's subsidiary Universal Biofuels Private Limited ("UBPL") entered into a secured loan agreement with a trade partner in an amount not to exceed $3.6 million that is secured by the fixed and currents assets of the Kakinada Plant. On  November 6, 2023, UBPL entered into a short-term loan agreement with a different trade partner in an amount not to exceed $1.27 million. Each loan bears interest at 18% that is payable monthly. The loans are repayable on demand by the lenders, or by the extended maturity date in  November 2025. As of  September 30, 2025, and  December 31, 2024, UBPL had outstanding balances under these agreements totaling $0.0 million and $5.1 million, respectively.
    
   The India biodiesel segment maintains a factoring arrangement under which we leverage certain trade receivables to receive short-term funding from a third-party financial institution. We retain the risk of nonpayment on the transferred receivables, so the arrangement does not meet the criteria for sale accounting under ASC 860, and we account for the funding as secured borrowing. Under this arrangement, the company receives cash advances which are recorded as debt, and the funds received are net of 8.1% interest which is recorded as interest expense. We retain our accounts receivable balances in the balance sheet. During the nine months ended  September 30, 2025, we