Company: AMTX
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437749-25-025271
Chunk: 97

Company: AEMETIS, INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1F
Chunk 97
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, 2025. 

    Other expenses consist primarily of interest and amortization expense attributable to our debt and to accretion of biogas Series A Preferred Units. The cost of debt includes issuance of warrants as renewal fees. The fair value of stock and warrants are amortized as expenses, except when the extinguishment accounting method is applied, in which case refinanced debt costs are recorded as extinguishment expense. Interest expense and debt related fees and amortization increased in the
   six months ended
   June 30, 2025, due to higher variable interest rates and higher debt balances.

Liquidity and Capital Resources

Cash and Cash Equivalents

Cash and cash equivalents were $1.6 million at June 30, 2025, with $0.6 million held in our North American entities and $1.0 million in our India entity. Our current ratio was 0.06 at June 30, 2025, compared to 0.31 at December 31, 2024. We expect that our future 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 

      June 30, 2025 

      December 31, 2024 

      Cash and cash equivalents 
      
     $
     1,645

     $
     898

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

     20,086

     44,696

      Current and long-term liabilities (excluding all debt) 

     185,039

     185,169

      Current & long-term debt 

     344,232

     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