Company: AMTX
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437749-25-015301
Chunk: 77

Company: AEMETIS, INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1F
Chunk 77
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5, in connection with employment agreements, bonus awards, expense reimbursements, and guarantee fees in connection with guarantees of the Company's indebtedness to Third Eye Capital provided by McAfee Capital and by Mr. McAfee personally.

       20

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

   15. Subsequent Events
    
   On  May 7, 2025, Aemetis Biogas LLC ("ABGL") entered into an agreement entitled Ninth Waiver and Amendment to Series A Preferred Unit Purchase Agreement ("PUPA Ninth Amendment") with an effective date of  April 30, 2025, that provides, among other provisions, the requirement for ABGL to redeem all outstanding Series A Preferred Units by  August 31, 2025, for an aggregate redemption price of $116.8 million or to enter into a credit agreement in the form attached to the PUPA Ninth Amendment. The PUPA Ninth Amendment is described further above in Note 11 Aemetis Biogas LLC - Series A Preferred Financing. 

   16. Liquidity
    
   The accompanying financial statements have been prepared contemplating the realization of assets and satisfaction of liabilities in the normal course of business. As a result of negative capital, negative operating results, and collateralization of a substantial portion of our assets, we have been reliant on our senior secured lender to provide extensions to the maturity dates of its debt and loan facilities, and have been required to remit excess cash, principally from tax credit sales, to our senior secured lender. In order to meet our obligations during the next twelve months, we will need to refinance debt with our senior lender for amounts becoming due in the next twelve months or receive its continued cooperation. While we believe our India biodiesel and California RNG businesses will generate positive cash flow from operations and reduce cash demands and allow payments against other obligations, we will also continue to sell equity through our at-the-market registration and pursue the following strategies to improve liquidity:
    
   For the Keyes Plant, we plan to operate the plant and continue to improve its financial performance by adopting new technologies or process changes that allow for energy efficiency, cost reduction, or revenue enhancements, as well as execute upon awarded grants that improve energy and operational efficiencies resulting in lower cost, lower carbon emissions, and overall margin improvement. As part of this, we are constructing a mechanical vapor recompression project that will reduce the Keyes Plant's natural gas costs and increase revenue