Company: AMTX
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437749-25-025271
Chunk: 98

Company: AEMETIS, INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1F
Chunk 98
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 activities to fluctuate in future periods primarily because of changes in the prices for corn, ethanol, WDG, DCO, CDS, biodiesel, waste fats and oils, glycerin, non-refined palm oil, natural gas, LCFS credits, and D3 RINs. To the extent that we experience periods in which the spread between ethanol prices and corn and energy costs narrow or the value of environmental attributes or tax credits is reduced, we require additional working capital to fund operations.

We are implementing several strategies to improve our cash flow from operations, as described in more detail in Note 16 Liquidity of our Consolidated Financial Statements in Item 1 of Part 1 above.

Senior Secured Debt

As of June 30, 2025, the outstanding balance of principal, interest and fees, net of discounts, on all Third Eye Capital Notes totals $225.7 million.  The maturity dates for the debts to Third Eye Capital are as follows:

 ● Due on demand: $45.6 million

 ● March 1, 2026: $27.7 million

 ● April 1, 2026: $152.4 million 

Third Eye Capital has provided a series of accommodating amendments to our debt facilities as described in further detail in Note 5. Debt of the Notes to Consolidated Financial Statements in this Form 10-Q. However, future amendments or accommodations will continue to be at the discretion of the lender. In the event our senior lender does not extend our debt, we would likely not have sufficient cash to pay the debt when due unless we are able to obtain alternative financing.

Change in Debt, Working Capital and Cash Flows

The following table describes the changes in current and long-term debt (in thousands) during the six months ended June 30, 2025:

      Increases to debt: 

      Accrued interest 
      
     $
     22,121

      Maturity date extension fee and other fees added to senior debt 

     2,410

      Sub debt extension fees 

     680

      Construction Loan draw 

     482

      Secured loans and Working capital loan draw 

     17,166

      TEC short term promissory note 

     3,800

      Total increases to debt 

     $
     46,659

      Decreases to debt: 

      Principal, fees, and interest payments to senior lender