AMTX Aemetis

Aemetis, Inc. operates as a renewable fuels and biochemicals company. The firm focuses on the acquisition, development, and commercialization of technologies that replace traditional petroleum-based products by the conversion of ethanol and biodiesel plants into biorefineries. It operates through the North America and India segments. The North America segment comprises of the Keyes Plant in California, the cellulosic ethanol facility in Riverbank, the cluster of biogas digesters on dairies near Keyes, the Goodland Plant, and the research and development facility in Minnesota. The India segment includes the Kakinada plant, administrative offices in Hyderabad, and holding companies in Nevada and Mauritius. Its products include glycerin, ethanol, food and feed, biodiesel, and edible oils. The company was founded by Eric Armstrong McAfee in 2005 and is headquartered in Cupertino, CA.
Company profile
Ticker
AMTX
Exchange
Website
CEO
Eric McAfee
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
AE Biofuels, Inc., AE BIOFUELS, INC., MARWICH II LTD
SEC CIK
Corporate docs
IRS number
261407544
AMTX stock data
()
News
12 Energy Stocks Moving In Monday's After-Market Session
5 Apr 21
Aemetis Reports Board Approved Establishment Of New Subsidiary Named Aemetis Carbon Capture
1 Apr 21
71 Biggest Movers From Yesterday
1 Apr 21
40 Stocks Moving In Wednesday's Mid-Day Session
31 Mar 21
Aemetis Receives California Air Resources Board Approval Certification For LCFS Tier 2 Fuel Pathway For Aemetis Advanced Fuels Keyes Ethanol Production Plant Utilizing Dairy Biogas
31 Mar 21
Press releases
Thinking about buying stock in Westport Fuel Systems, Galectin Therapeutics, eMagin Corp, Aemetis, or BioLineRx?
19 Apr 21
Thinking about trading options or stock in Silicon Motion Technology, Apple, Aemetis, Advanced Micro Devices, or Square?
8 Apr 21
Thinking about buying stock in Arbutus Biopharma, Aemetis, FuboTV, Rubius Therapeutics, or Lithium Americas Corp?
1 Apr 21
Aemetis Establishes Carbon Capture Subsidiary for CO2 Sequestration to Further Reduce the Carbon Intensity of Dairy RNG and Renewable Fuels
1 Apr 21
Aemetis Receives LCFS Pathway Approval Utilizing Dairy Biogas For Production of Renewable Transportation Fuel
31 Mar 21
Investment data
Securities sold
Number of investors
Calendar
15 Mar 21
21 Apr 21
31 Dec 21
Financial summary
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Dec 20 | Dec 19 | Dec 18 | Dec 17 | |
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Financial data from Aemetis earnings reports.
Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 592K | 592K | 592K | 592K | 592K | 592K |
Cash burn (monthly) | (positive/no burn) | 5.33K | 5.1M | 2.48M | 1.53M | (positive/no burn) |
Cash used (since last report) | n/a | 19.74K | 18.87M | 9.19M | 5.65M | n/a |
Cash remaining | n/a | 572.26K | -18.28M | -8.59M | -5.05M | n/a |
Runway (months of cash) | n/a | 107.3 | -3.6 | -3.5 | -3.3 | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
8 Apr 21 | Block John R | Common Stock | Grant | Aquire A | No | No | 0 | 18,865 | 0 | 18,865 |
8 Apr 21 | Barton Francis P | Common Stock | Grant | Aquire A | No | No | 0 | 12,152 | 0 | 12,152 |
8 Apr 21 | Lydia I Beebe | Common Stock | Grant | Aquire A | No | No | 0 | 3,097 | 0 | 3,097 |
17 Mar 21 | Waltz Todd | Option Common stock and Series B Preferred | Sale back to company | Dispose D | No | No | 18.9162 | 46,900 | 887.17K | 12,645 |
17 Mar 21 | Gupta Sanjeev | Option Common stock and Series B Preferred | Sale back to company | Dispose D | No | No | 18.9162 | 49,346 | 933.44K | 3,361 |
17 Mar 21 | Gupta Sanjeev | Option Common stock and Series B Preferred | Sale back to company | Dispose D | No | No | 18.9162 | 26,101 | 493.73K | 3,899 |
17 Mar 21 | Gupta Sanjeev | Option Common stock and Series B Preferred | Sale back to company | Dispose D | No | No | 18.9162 | 15,823 | 299.31K | 4,177 |
16 Mar 21 | Waltz Todd | Option Common stock and Series B Preferred | Sale back to company | Dispose D | No | No | 19.5437 | 455 | 8.89K | 59,545 |
16 Mar 21 | Waltz Todd | Option Common stock and Series B Preferred | Sale back to company | Dispose D | No | No | 19.5437 | 29,045 | 567.65K | 4,955 |
16 Mar 21 | Gupta Sanjeev | Common stock - Founders stock | Sale back to company | Dispose D | No | No | 19.5437 | 10,035 | 196.12K | 0 |
Institutional ownership Q4 2020
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
5.5% owned by funds/institutions
13F holders |
Current |
---|---|
Total holders | 1 |
Opened positions | 1 |
Closed positions | 24 |
Increased positions | 0 |
Reduced positions | 0 |
13F shares |
Current |
---|---|
Total value | 3.7M |
Total shares | 1.49M |
Total puts | 0 |
Total calls | 0 |
Total put/call ratio | – |
Largest owners |
Shares | Value |
---|---|---|
Portolan Capital Management | 1.49M | $3.7M |
Financial report summary
?Risks
- We are currently not profitable and historically, we have incurred significant losses. If we incur continued losses, we may have to curtail our operations, which may prevent us from successfully operating and expanding our business.
- Our indebtedness, preference payments, and interest expense could limit cash flow and adversely affect operations and our ability to make full payment on outstanding debt.
- Our business is dependent on external financing and cash from operations to service debt and provide future growth.
- We may be unable to repay or refinance our Third Eye Capital Notes upon maturity.
- The price of ethanol is volatile and subject to large fluctuations, and increased ethanol production may cause a decline in ethanol prices or prevent ethanol prices from rising, either of which could adversely impact our results of operations, cash flows and financial condition.
- We may be unable to execute our business plan.
- We may not be able to recover the costs of our substantial investments in capital improvements and additions, and the actual cost of such improvements and additions may be significantly higher than we anticipate.
- We are dependent on, and vulnerable to any difficulties of, our principal suppliers and customers.
- We face competition for our bio-chemical and transportation fuels products from providers of petroleum-based products and from other companies seeking to provide alternatives to these products, many of whom have greater resources and experience than we do, and if we cannot compete effectively against these companies, we may not be successful.
- The high concentration of our sales within the ethanol production industry could result in a significant reduction in sales and negatively affect our profitability if demand for ethanol declines.
- Our operations are subject to environmental, health, and safety laws, regulations, and liabilities.
- Our business is affected by greenhouse gas and climate change regulation.
- A change in government policies may cause a decline in the demand for our products.
- Concerns regarding the environmental impact of biofuel production could affect public policy which could impair our ability to operate at a profit and substantially harm our revenues and operating margins.
- We may encounter unanticipated difficulties in converting the Keyes Plant to accommodate alternative feedstocks, new chemicals used in the fermentation and distillation process or new mechanical production equipment.
- Aemetis has entered into new markets for alcohol, including the sanitizer market and other industrial alcohol segments. These new markets, along with existing transportation/energy markets Aemetis already serves, are highly volatile and have significant risk associated with current market conditions.
- We could be adversely affected by violations of the U.S. Foreign Corrupt Practices Act.
- A substantial portion of our assets and operations are located in India, and we are subject to regulatory, economic and political uncertainties in India.
- Currency fluctuations between the Indian rupee and the U.S. dollar could have a material adverse effect on our results of operations.
- We could be subject to strict restrictions on the movement of cash and the exchange of foreign currencies which could limit our access to cash held in our Indian subsidiary to fund our U.S. operations or otherwise make investments where needed.
- We are a holding company and there are significant limitations on our ability to receive distributions from our subsidiaries.
- Our Chief Executive Officer has outside business interests that could require time and attention.
- Our ability to utilize our NOL carryforwards may be limited.
- Non-U.S. stockholders of our common stock, in certain situations, could be subject to U.S. federal income tax on the gain from the sale, exchange or other disposition of our common stock.
- We are subject to covenants and other operating restrictions under the terms of our debt, which may restrict our ability to engage in some business transactions.
- We may be subject to liabilities and losses that may not be covered by insurance.
- The widespread outbreak of an illness, pandemic (such as COVID-19) or any other public health crisis may have material adverse effects on our financial position, results of operations or cash flows.
- Our mergers, acquisitions, partnerships, and joint ventures may not be as beneficial as we anticipate.
- EdenIQ’s attempt to terminate and failure to close the EdenIQ Merger, and litigation pertaining to the EdenIQ Merger, may negatively impact our business and operations.
- Our business may be significantly disrupted upon the occurrence of a catastrophic event or cyberattack.
- Adverse weather conditions, including as a result of climate change, may adversely affect the availability, quality and price of agricultural commodities and agricultural commodity products, as well as our operations and operating results.
- We may be unable to protect our intellectual property.
- We may not be able to successfully develop and commercialize our technologies, which may require us to curtail or cease our research and development activities.
- Technological advances and changes in production methods in the biomass-based biofuel industry and renewable chemical industry could render our plants obsolete and adversely affect our ability to compete.
- We do not intend to pay dividends.
- Our principal shareholders hold a substantial amount of our common stock.
- The conversion of convertible securities and the exercise of outstanding options and warrants to purchase our common stock could substantially dilute your investment and reduce the voting power of your shares, impede our ability to obtain additional financing and cause us to incur additional expenses.
- Our stock price is highly volatile, which could result in substantial losses for investors purchasing shares of our common stock and in litigation against us.
- Our success depends in part on recruiting and retaining key personnel and, if we fail to do so, it may be more difficult for us to execute our business strategy.
- Our operations subject us to risks associated with foreign laws, policies, regulations, and markets.
- Operational difficulties at our facilities may negatively impact our business.
- Our success depends on our ability to manage the growth of our operations.
- Our business may be subject to natural forces beyond our control.
- U.S. tax law changes could materially affect the tax aspects of our business and the industries in which we compete.
- Future sales and issuances of rights to purchase common stock by us could result in additional dilution of the percentage ownership of our stockholders and could cause our stock price to fall.
Management Discussion
- Our revenues are derived primarily from sales of ethanol and WDG in North America and biodiesel and refined glycerin in India.
- North America. The 3% decrease in revenue was due to a decrease in sales of ethanol and WDG. Gallons of ethanol sold decreased to 55.9 million gallons during the year ended December 31, 2020 compared to 64.7 million gallons during the year ended December 31, 2019. The average price of ethanol decreased by 11% to $1.57 per gallon during the year ended December 31, 2020 compared to $1.77 per gallon during the year month ended December 31, 2019, primarily due to change in demand from COVID-19 shelter-in-place orders that reduced demand of gasoline. This reduction in demand for ethanol was partially offset by our entrance into the high-grade alcohol market in 2020 due to COVID-19 sanitizer alcohol demand. In addition, the sales volume of WDG decreased by 8% to 393 thousand tons during the year ended December 31, 2020 compared to 428 thousand tons during the year ended December 31, 2019 while the average sales price increased by 1% to $81.49 per ton. For the year ended December 31, 2020, we generated 59% of our revenues from sales of ethanol, 21% from sales of WDG, 15% from sales of high-grade alcohol, and 5% from sales of corn oil, CDS, and CO2 compared to 74% of our revenues from sales of ethanol, 23% from sales of WDG, and 3% from sales of corn oil and CDS for the year ended December 31, 2019. During the year ended December 31, 2020, plant production averaged 112% of the 55 million gallon per year nameplate capacity compared to 118% during the year ended December 31, 2019.
- India. For the year ended December 31, 2020, we generated 87% of our sales from biodiesel, and 8% of our sales from refined glycerin, and 5% from other sales compared to 89% of our sales from biodiesel, 6% of our sales from refined glycerin, and 5% from other sales for the year ended December 31, 2019. The decrease in revenues was due to delays in the government tender contracts bidding and general slowness of sales due to COVID-19 in 2020, resulting in a decrease in biodiesel volumes by 66% to 15,987 metric tons during the year ended December 31, 2020 compared to 46,971 metric tons during the year ended December 31, 2019. The average price of biodiesel decreased to $863 per metric ton during the year ended December 31, 2020 compared to $904 per metric during the year ended December 31, 2019. In addition, the refined glycerin volumes decreased by 72% to 1,440 metric tons during the year ended December 31, 2020 compared to 5,173 metric tons during the year ended December 31, 2019 while the average price increased by 50% to $814 per metric ton during the year ended December 31, 2020 compared to $543 per metric ton in the same period in 2019.
Content analysis
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Legalese | ||
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Readability |
H.S. freshman Avg
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New words:
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Removed:
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Financial reports
10-K
2020 FY
Annual report
15 Mar 21
10-Q
2020 Q3
Quarterly report
12 Nov 20
10-Q
2020 Q2
Quarterly report
13 Aug 20
10-Q
2020 Q1
Quarterly report
14 May 20
10-K
2019 FY
Annual report
12 Mar 20
10-Q
2019 Q3
Quarterly report
14 Nov 19
10-Q
2019 Q2
Quarterly report
8 Aug 19
10-Q
2019 Q1
Quarterly report
9 May 19
10-K
2018 FY
Annual report
14 Mar 19
10-Q
2018 Q3
Quarterly report
7 Nov 18
Current reports
8-K
Regulation FD Disclosure
21 Apr 21
8-K
Aemetis Reports 2020 Fourth Quarter and Year-End Results
11 Mar 21
8-K
Regulation FD Disclosure
1 Mar 21
8-K
Entry into a Material Definitive Agreement
27 Jan 21
8-K
Aemetis, Inc. Reports Third Quarter 2020 Financial Results
12 Nov 20
8-K
Entry into a Material Definitive Agreement
1 Oct 20
8-K
Other Events
17 Aug 20
8-K
Aemetis, Inc. Reports Second Quarter 2020 Financial Results
13 Aug 20
8-K
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard
9 Jun 20
8-K
Aemetis, Inc. Reports First Quarter 2020 Financial Results
14 May 20
Registration and prospectus
S-8
Registration of securities for employees
15 Mar 21
424B5
Prospectus supplement for primary offering
26 Jan 21
S-8
Registration of securities for employees
1 Oct 20
424B5
Prospectus supplement for primary offering
1 Oct 20
S-3
Shelf registration
28 Aug 20
S-8
Registration of securities for employees
28 Aug 20
S-8
Registration of securities for employees
12 Mar 20
S-8
Registration of securities for employees
14 Mar 19
S-3
Shelf registration
14 May 18
S-8
Registration of securities for employees
28 Mar 18
Proxies
DEFA14A
Additional proxy soliciting materials
28 Apr 20
DEF 14A
Definitive proxy
28 Apr 20
DEF 14A
Definitive proxy
14 Mar 19
DEFA14A
Additional proxy soliciting materials
14 Mar 19
DEF 14A
Definitive proxy
3 Apr 18
DEFA14A
Additional proxy soliciting materials
3 Apr 18
DEFA14A
Additional proxy soliciting materials
20 Mar 17
DEF 14A
Definitive proxy
16 Mar 17
DEFA14A
Additional proxy soliciting materials
3 Mar 16
DEF 14A
Definitive proxy
3 Mar 16
Other
EFFECT
Notice of effectiveness
25 Sep 20
CORRESP
Correspondence with SEC
20 Sep 20
UPLOAD
Letter from SEC
3 Sep 20
UPLOAD
Letter from SEC
14 Feb 17
CORRESP
Correspondence with SEC
2 Jan 17
UPLOAD
Letter from SEC
14 Dec 16
UPLOAD
Letter from SEC
25 Mar 15
CORRESP
Correspondence with SEC
23 Mar 15
UPLOAD
Letter from SEC
16 Mar 15
UPLOAD
Letter from SEC
2 Nov 14
Ownership
4
AEMETIS / Lydia I Beebe ownership change
12 Apr 21
4
AEMETIS / FRANCIS P BARTON ownership change
12 Apr 21
4
AEMETIS / JOHN R BLOCK ownership change
12 Apr 21
4
AEMETIS / ANDREW B FOSTER ownership change
18 Mar 21
4
AEMETIS / Todd Waltz ownership change
18 Mar 21
4
AEMETIS / Sanjeev Gupta ownership change
18 Mar 21
4
AEMETIS / Sanjeev Gupta ownership change
16 Mar 21
4
AEMETIS / Todd Waltz ownership change
16 Mar 21
4
AEMETIS / JOHN R BLOCK ownership change
16 Mar 21
4
AEMETIS / ANDREW B FOSTER ownership change
16 Mar 21
Transcripts
2020 Q4
Earnings call transcript
12 Mar 21
2020 Q3
Earnings call transcript
12 Nov 20
2020 Q2
Earnings call transcript
13 Aug 20
2020 Q1
Earnings call transcript
14 May 20
2019 Q4
Earnings call transcript
12 Mar 20
2019 Q3
Earnings call transcript
14 Nov 19
2019 Q2
Earnings call transcript
11 Aug 19
2019 Q1
Earnings call transcript
13 May 19
2018 Q4
Earnings call transcript
14 Mar 19
2018 Q3
Earnings call transcript
9 Nov 18
Reddit threads
Daily General Discussion and spitballin thread - April 20, 2021
20 Apr 21
Its Time to Buy DGLY $1.95
12 Apr 21
Anyone notice how most of the top DD posted on here this year, came around the peak of the stock and the stock has only fallen since?
8 Apr 21
Live Technical Analysis Tonight 6:30pm CST + VISL trade
6 Apr 21
Do people genuinely believe in the stocks they're posting here, or is every single mention of a stock an amateur attempt at a pump and dump?
2 Apr 21
Looking for green stocks
31 Mar 21
What ticker made your 2020? And what stock are you counting on for 2021?
30 Mar 21
$AMTX Gains
28 Mar 21
My true penny stock lesson- Read and learn from my mistake
26 Mar 21
am i doing it right?
26 Mar 21