Company profile

Ticker
AMTX
Exchange
Website
CEO
Eric Armstrong McAfee
Employees
Incorporated in
Location
Fiscal year end
Former names
AE Biofuels, Inc., Ae Biofuels, Inc., Marwich Ii LTD
SEC CIK
IRS number
261407544

AMTX stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

14 May 20
12 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 39.48M 52.1M 57.39M 50.62M
Net income -12.05M -7.65M -7.23M -13.93M
Diluted EPS -0.58 -0.33 -0.31 -0.63
Net profit margin -30.53% -14.69% -12.59% -27.52%
Operating income -4.49M 1.04M -584K -762K
Net change in cash -353K -263K 569K 307K
Cash on hand 303K 656K 919K 350K
Cost of revenue 39.91M 46.31M 53.41M 47.35M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 202M 171.53M 150.16M 143.16M
Net income -39.48M -36.29M -31.77M -15.64M
Diluted EPS -1.75 -1.63 -1.53 -0.79
Net profit margin -19.54% -21.16% -21.16% -10.92%
Operating income -4.93M -10.93M -12.18M -781K
Net change in cash -532K 760K -1.06M 1.2M
Cash on hand 656K 1.19M 428K 1.49M
Cost of revenue 189.3M 166.12M 146.78M 131.56M

Financial data from Aemetis earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
28 Mar 20 Barton Francis P Option Common stock and Series B Preferred Grant Aquire A No 0.6 60,000 36K 60,000
28 Mar 20 Waltz Todd Option Common stock and Series B Preferred Grant Aquire A No 0.6 150,000 90K 150,000
28 Mar 20 Block John R Option Common stock and Series B Preferred Grant Aquire A No 0.6 109,000 65.4K 109,000
28 Mar 20 Lydia I Beebe Option Common stock and Series B Preferred Grant Aquire A No 0.6 5,000 3K 5,000
7.0% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 19 18 +5.6%
Opened positions 3 1 +200.0%
Closed positions 2 2
Increased positions 2 2
Reduced positions 4 4
13F shares
Current Prev Q Change
Total value 14.99M 1.4M +974.3%
Total shares 1.45M 1.75M -17.2%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
CIBC Private Wealth 883.43K $459K -10.2%
Vanguard 220.14K $115K -5.0%
STT State Street 86.9K $45K 0.0%
Highbridge Capital Management 70.77K $37K 0.0%
Geode Capital Management 63.18K $32K +3.5%
Nwam 27.4K $14.25M 0.0%
Board of Trustees of The Leland Stanford Junior University 25K $12K 0.0%
NTRS Northern Trust 23.21K $12K 0.0%
BLK BlackRock 16.46K $8K +3.6%
BK Bank Of New York Mellon 13K $7K 0.0%
Largest transactions
Shares Bought/sold Change
AWM Investment 0 -178.94K EXIT
CIBC Private Wealth 883.43K -100.73K -10.2%
UBS UBS 2.1K -13.47K -86.5%
Vanguard 220.14K -11.57K -5.0%
Advisor 0 -5K EXIT
Advisor 5K +5K NEW
Geode Capital Management 63.18K +2.16K +3.5%
BLK BlackRock 16.46K +570 +3.6%
BAC Bank of America 200 +200 NEW
WFC Wells Fargo & Company 100 +100 NEW

Financial report summary

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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 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.
  • Disruptions in ethanol production infrastructure may adversely affect our business, results of operations and financial condition.
  • Our results from operations are primarily dependent on the spread between the feedstock and energy we purchase and the fuel, animal feed and other products we sell.
  • 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.
  • We may be subject to liabilities and losses that may not be covered by insurance.
  • 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.
  • 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 business may be subject to natural forces beyond our control.
  • Our ability to utilize our NOL carryforwards may be limited.
  • U.S. tax law changes could materially affect the tax aspects of our business and the industries in which we compete.
  • 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.
  • Operational difficulties at our facilities may negatively impact our business.
  • The spread of the Coronavirus (COVID-19) could negatively impact our operations.
  • Our success depends on our ability to manage the growth of our operations.
  • 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.
  • 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.
  • 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.
  • 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.
  • 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.
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 increase in revenues by 3% in the North America segment was due to increases in the average sales price of WDG by 6% to $80.65 per ton and the average sales price of ethanol by 2% to $1.77 per gallon during the year ended December 31, 2019 compared to $76.38 per ton and $1.74 per gallon, respectively during the year ended December 31, 2018. Sales volume of WDG increased by 1% to 428 thousand tons compared to 424 thousand tons during the year ended December 31, 2018. Sales volume of ethanol decreased slightly to 64.7 million gallons for the year ended December 31, 2019 compared to 65.6 million gallons in the year ended December 31, 2018. For the year ended December 31, 2019, we generated approximately 74% of revenues from sales of ethanol, 23% of revenues from sales of WDG and 3% of revenues from DCO, CDS, and other sales, compared to 76% of revenues from sales of ethanol, 22% of revenues from sales of WDG and 2% of revenues from DCO, CDS and other sales for the year ended December 31, 2018. For the year ended December 31, 2019 and 2018, the Keyes Plant operations averaged 118% and 119% of the 55 million gallon per year nameplate capacity.
  • India. The increase in revenues by 123% in the India segment for the year ended December 31, 2019 reflects an increase in sales volume of biodiesel due to obtaining and supplying Government Oil Market Companies tender contracts in addition to retail, mining and bulk customer sales. Biodiesel sales volume increased by 137% to 47.0 thousand metric tons while the average price increased by 5% to $904 per metric ton. Refined glycerin sales volumes increased by 9% to 5.2 thousand metric tons while the average price per metric ton decreased by 42% to $543 per metric ton. For the year ended December 31, 2019, we generated approximately 89% of revenue from sales of biodiesel, 6% of revenue from sales of glycerin, and 5% of revenues from PFAD and other sales compared to 79% of revenue from sales of biodiesel and 21% of revenue from sales of glycerin for the year ended December 31, 2018.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
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