Company: AMTX
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437749-25-015301
Chunk: 6

Company: AEMETIS, INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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Investment Tax Credits   In the first quarter of 2025 the Company sold to third-party purchasers certain transferrable Investment Tax Credits (ITCs) that had been generated by the Company from its investments in the California Dairy Renewable Natural Gas segment. The Company accounted for the ITC sales in accordance with ASC 740 by electing the flow-through method. For the three months ended  March 31, 2025, the contractual net proceeds of the tax credits sales of $7.0 million are recorded as an income tax benefit.   

   2.  Cash, Cash Equivalents, and Restricted Cash
    
   The following table reconciles cash, cash equivalents, and restricted cash reported in the consolidated balance sheet to the total of the same amounts shown in the statement of cash flows. 

        As of 

        March 31, 2025 

        December 31, 2024 

        Cash and cash equivalents 
        
       $
       499

       $
       898

        Restricted cash included in other current assets 

       2

       31

        Restricted cash included in other assets 

       2,923

       2,902

        Total cash, cash equivalents, and restricted cash shown in the statement of cash flows 
        
       $
       3,424

       $
       3,831

   Restricted cash shown in the table above includes amounts set aside pursuant to the Aemetis Biogas 1 LLC Term Loan Agreement and the Aemetis Biogas 2 LLC Construction and Term Loan Agreement for financing reserves and construction contingencies.

   3. Inventories
    
   Inventories consist of the following:

        As of 

        March 31, 2025 

        December 31, 2024 

        Raw materials 
        
       $
       10,044

       $
       12,529

        Work-in-progress 

       1,440

       1,683

        Finished goods 

       11,446

       11,230

        Total inventories 
        
       $
       22,930

       $
       25,442

    As of 
     March 31, 2025
    , and 
     December 31, 2024
    , the Company recognized a lower of cost or net realizable value adjustment 
    of $43