Company: AMTX
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001437749-25-033667
Chunk: 95

Company: AEMETIS, INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1F
Chunk 95
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 the percentage of biodiesel used in India as a percentage of total diesel uses.
    
   Expand Operations and Plan for IPO. We have hired a new executive team in India to help develop plans for additional growth of our India business and to execute on a potential public stock offering of our India subsidiary.
    
   Maintain Self-Sustaining Cash Flow. Notably, our India business has been self-sustaining from a cash and liquidity perspective for several years, and we expect this to continue.
    
   Financing
    
   While we are implementing our plans to improve liquidity, we have been raising cash for operations by selling equity through our at-the-market stock registration, and we expect to continue to do so. We also plan to seek additional funding for existing and new business opportunities through a combination of working with our senior lender, restructuring or refinancing existing loan agreements, entering into additional debt agreements for specific projects, obtaining project specific equity and debt for development projects, and obtaining additional debt from the current EB-5 Phase II offering.
    
   Summary
    
   As discussed above, there have been several events in the last nine months that are expected to improve our ability to execute on the strategies for improving liquidity, including, for example, recent approval of biogas LCFS pathways, effectiveness of the new LCFS rule amendments, availability of Section 45Z tax credits for both ethanol and RNG production, and hiring of a new CFO in India to help manage an expected IPO.
    
   Notwithstanding our plans to improve liquidity and these favorable recent events, the extent of our debt and reliance on our senior secured lender, along with expected near-term shortfalls in cash flow from operations, require us to state that there is substantial doubt about our ability to continue as a going concern over the next twelve months.

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

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Our Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A) is provided in addition to the accompanying consolidated condensed financial statements and notes to assist readers in understanding our results of operations, financial condition, and cash flows. MD&A is organized as follows:

      ●  
      Overview. Discussion of our business and overall analysis of financial and other highlights affecting us to provide context for the remainder of MD&A. 

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      Results of