Company: AMTX
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437749-25-025271
Chunk: 4

Company: AEMETIS, INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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, and other investment and production tax credits.
    
   Basis of Presentation and Consolidation
    
   These consolidated financial statements include the accounts of Aemetis, Inc. and its subsidiaries. We consolidate all entities in which we have a controlling financial interest. A controlling financial interest is usually obtained through ownership of a majority of the voting interests. However, an enterprise must consolidate a variable interest entity (“VIE”) if the enterprise is the primary beneficiary of the VIE, even if the enterprise does not own a majority of the voting interests. The primary beneficiary is the party that has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, and the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. We consider Aemetis Biogas LLC ("ABGL") to be a VIE because Aemetis, Inc. owns all of the outstanding common units of ABGL and is the primary beneficiary of ABGL's operations; accordingly, the assets, liabilities, and operations of ABGL and its subsidiaries are consolidated in these financial statements.
    
   All intercompany balances and transactions have been eliminated in consolidation.
    
   The accompanying consolidated condensed balance sheet as of  June 30, 2025, the consolidated condensed statements of operations and comprehensive income (loss) for the three and six months ended  June 30, 2025 and 2024, the consolidated condensed statements of cash flows for the six months ended  June 30, 2025 and 2024, and the consolidated statements of stockholders’ deficit for the three and six months ended  June 30, 2025 and 2024, are unaudited. The consolidated condensed balance sheet as of  December 31, 2024, is derived from the 2024 audited consolidated financial statements and notes thereto.
    
   The financial statements in this report should be read in conjunction with the 2024 audited consolidated financial statements and notes thereto included in our annual report on Form 10-K for the year ended  December 31, 2024. There have been no material changes to our significant accounting policies disclosed in Note 1 - Nature of Activities and Summary of Significant Accounting Policies and other Notes to the Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended  December 31, 2024.