AEMETIS, INC. (NASDAQ:AMTX) Files An 8-K Completion of Acquisition or Disposition of Assets
Item 2.01 Completion of Acquisition or Disposition of Assets.
As previously disclosed in the Current Report on Form 8-K filed with the Securities and Exchange Commission on July 14, 2017 by Aemetis, Inc. (the “Company”), on July 10, 2017, the Company entered into an option agreement with Goodland Advanced Fuels, Inc. (“GAFI”) and Michael L. Peterson, the sole shareholder of GAFI (the “Shareholder”), to which the Shareholder granted to the Company an irrevocable option (the “Option”) to purchase all, but not less than all, of the capital stock of GAFI (the “Shares”) owned by the Shareholder for a purchase price equal to $0.01 per share. On December 31, 2019, the Company exercised the Option to its terms, and for aggregate consideration of $10.00, purchased all of the capital stock of GAFI. GAFI’s primary assets consist of a partially completed ethanol plant in Goodland, Kansas. As previously discussed in the Company’s periodic reports, the Company has determined that, even prior to the purchase of the Shares, it had the power to direct the activities, and was the primary beneficiary, of GAFI. Accordingly, the assets, liabilities, and operations of GAFI were consolidated into those of the Company as presented in the financial statements and the accompanying notes filed by the Company with its periodic reports, including its Quarterly Report on Form 10-Q for the quarter ended September 30, 2019 and its Annual Report on Form 10-K for the year ended December 31, 2018.
About AEMETIS, INC. (NASDAQ:AMTX)
Aemetis, Inc. is an international renewable fuels and biochemicals company. The Company is focused on the production of fuels and chemicals through the acquisition, development and commercialization of technologies that replace traditional petroleum-based products by conversion of first-generation ethanol and biodiesel plants into biorefineries. Its segments include North America and India. The North America segment includes the Company’s approximately 60 million gallon per year capacity ethanol manufacturing plant in Keyes, California and its technology lab in College Park, Maryland. The India segment includes the Company’s over 50 million gallon per year capacity biodiesel manufacturing plant in Kakinada, the administrative offices in Hyderabad, India, and the holding companies in Nevada and Mauritius. The Keyes plant produces denatured ethanol, Wet Distillers Grains, corn oil and Condensed Distillers Solubles. It produces biodiesel and refined glycerin at the Kakinada plant.
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