Company: AMTX
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001437749-25-033667
Chunk: 109

Company: AEMETIS, INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1F
Chunk 109
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 available cash resources will be generated from operations, sales of equity, sales of tax credits, and new debt. Incurrence of new debt and the associated use of proceeds from future debt financings are subject to approval by our senior lender.

Liquidity

Cash and cash equivalents, current assets, current liabilities, and debt at the end of each period were as follows (in thousands):

      As of 

      September 30, 2025 

      December 31, 2024 

      Cash and cash equivalents 
      
     $
     5,584

     $
     898

      Current assets (including cash, cash equivalents, and deposits) 

     15,554

     44,696

      Current and long-term liabilities (excluding all debt) 

     192,468

     185,169

      Current & long-term debt 

     353,503

     338,061

Our principal sources of liquidity have been cash provided by the sale of equity, operations, and borrowings under various debt arrangements.

       26

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

We operate in a volatile market in which we have limited control over major components of input costs and product revenues. We are making investments in future facilities and facility upgrades that improve overall margins while lessening the impact of volatile markets. As such, we expect cash provided by operating 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. 

The India Biodiesel segment utilized its receivables financing facility during the quarter to support short-term liquidity needs. Although the facility was fully repaid by quarter-end, it remains available for future use. The Company believes this arrangement provides flexibility in managing cash flows while maintaining prudent risk oversight.

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 September 30, 2025, the outstanding balance