Company: AMTX
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001437749-25-033667
Chunk: 64

Company: AEMETIS, INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1F
Chunk 64
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 such rules and regulations. In the opinion of Company’s management, the unaudited interim consolidated condensed financial statements as of and for the three and nine months ended  September 30, 2025 and 2024, have been prepared on the same basis as the audited consolidated statements as of and for the year ended  December 31, 2024, and reflect all adjustments, consisting primarily of normal recurring adjustments, necessary for the fair presentation of its statement of financial position, results of operations and cash flows. The results of operations for the three and nine months ended  September 30, 2025, are not necessarily indicative of the operating results for any subsequent quarter, for the full fiscal year, or any future periods. 
    
   Investment Tax Credits
    
   We sell certain transferable Investment Tax Credits ("ITCs") that we generate from qualifying investments to third-party purchasers. We account for ITC sales in accordance with ASC 740 by electing the flow-through method. For the nine months ended  September 30, 2025, the contractual net proceeds of ITC sales of $7.0 million are recorded as an income tax benefit. There were no ITC sales during the three months ended  September 30, 2025.

   2.  Cash, Cash Equivalents, and Restricted Cash
    
   The following table reconciles cash, cash equivalents, and restricted cash reported in the consolidated balance sheet to the total of the same amounts shown in the statement of cash flows. 

       As of  
   September 30, 2025    December 31, 2024  
 Cash and cash equivalents  $5,584  $898 
 Restricted cash included in other current assets   2   31 
 Restricted cash included in other assets   2,966   2,902 
 Total cash, cash equivalents, and restricted cash shown in the statement of cash flows  $8,552  $3,831 

   Restricted cash shown in the table above includes amounts set aside pursuant to the Aemetis Biogas 1 LLC Term Loan Agreement and the Aemetis Biogas 2 LLC Construction and Term Loan Agreement for financing reserves and construction contingencies.

   3. Inventories
    
   Inventories consist of the following:
   
       As of  
   September 30, 202