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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION Washington, D.C. 20549
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FORM
8K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of the Securities Exchange Act of
1934
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Date of Report
(Date of earliest event reported): March 29, 2018
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Aemetis,
Inc.
(Exact
name of registrant as specified in its charter)
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Nevada
(State
or other jurisdiction ofincorporation)
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00051354
(Commission File
Number)
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261407544
(IRS
Employer IdentificationNo.)
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20400
Stevens Creek Blvd., Suite 700
Cupertino,
CA 95014
(Address of
principal executive offices) (Zip Code)
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Registrant's
telephone number, including area code: (408) 2130940
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(Former
name or former address, if changed since last report.)
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AEMETIS,
INC.
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March 29,
2017
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By:
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/s/
Eric A.
McAfee
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Eric A.
McAfee
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Chief
Executive Officer
(Principal
Executive Officer)
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External Investor Relations Contact:
Kirin Smith
PCG Advisory Group
(646) 863-6519
ksmith@pcgadvisory.com
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Company Contact:
Todd
Waltz
Chief
Financial Officer
(408)
213-0925
twaltz@aemetis.com
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Three
months ended
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Year
ended
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December
31,
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December
31,
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2017
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2016
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2017
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2016
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Revenues
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$38,884
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$37,396
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$150,157
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$143,158
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Cost of goods
sold
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38,582
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33,493
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146,782
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131,559
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Gross
profit
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302
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3,903
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3,375
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11,599
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Research and
development expenses
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295
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79
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2,367
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369
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Selling, general
and administrative expenses
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3,452
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2,888
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13,191
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12,011
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Operating
income/(loss)
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3,445
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936
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(12,183)
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(781)
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Interest rate
expense
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4,033
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2,814
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13,906
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11,493
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Amortization
expense
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1,286
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1,454
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5,398
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5,723
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Loss/(gain) on debt
extinguishment
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-
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(2,033)
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-
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(2,033)
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Loss on impairment
of goodwill and intangibles
Other
expense/(income)
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-275
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-146
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-277
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-(334)
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Income/(loss)
before income taxes
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(9,039)
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(1,445)
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(31,764)
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(15,630)
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Income tax
expense
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-
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-
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(6)
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(6)
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Net
income/(loss)
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$(9,039)
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$(1,445)
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$(31,770)
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$(15,636)
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Non controlling
interest
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(762)
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(1,469)
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Net loss
attributable to Aemetis
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$(8,277)
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$(1,445)
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$(30,301)
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$(15,636)
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Net Income/(loss)
per common share
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Basic
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$(0.41)
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$(0.07)
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$(1.53)
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$(0.79)
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Diluted
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$(0.41)
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$(0.07)
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$(1.53)
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$(0.79)
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Weighted average
shares outstanding
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Basic
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19,759
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19,858
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19,833
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19,771
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Diluted
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19,759
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19,858
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19,833
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19,771
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Year
ended December 31,
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2017
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2016
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Assets
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Current
assets:
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Cash and cash
equivalents
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$428
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$1,486
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Accounts
receivable
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2,219
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1,557
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Inventories
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5,737
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3,241
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Prepaid and Other
Assets
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3,078
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761
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Total current
assets
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11,462
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7,045
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Property, plant and
equipment, net
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78,837
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66,370
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Other
assets
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4,032
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4,395
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Total
assets
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$94,331
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$77,810
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Liabilities
and stockholders' deficit
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Current
Liabilities:
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Accounts
payable
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$10,457
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$7,842
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Current portion of
long term debt
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2,039
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2,027
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Short term
borrowings
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13,586
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9,382
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Mandatorily
redeemable Series B convertible preferred stock
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2,946
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2,844
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Accrued property
taxes and other liabilities
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6,988
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5,121
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Total current
liabilities
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36,016
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27,216
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Total long term
liabilities
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138,176
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100,407
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Stockholders'
deficit:
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Series B
convertible preferred stock
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1
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1
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Common
stock
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20
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20
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Additional paid-in
capital
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84,679
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83,441
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Accumulated
deficit
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(160,188)
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(129,887)
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Accumulated other
comprehensive loss
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(2,904)
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(3,388)
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Total stockholders'
deficit
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(78,392)
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(49,813)
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Total
liabilities and stockholders' deficit
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$94,331
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$77,810
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Three
months ended
December
31,
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Year
ended
December
31,
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2017
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2016
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2017
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2016
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Net
income/(loss)
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$(9,039)
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$(1,445)
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$(31,770)
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$(15,636)
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Adjustments:
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Interest
expense
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4,033
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2,814
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13,906
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11,493
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Amortization
expense
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1,286
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1,454
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5,398
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5,723
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Loss on debt
extinguishment
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-
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(2,033)
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-
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(2,033)
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Income tax
expense
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-
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-
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6
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6
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Intangibles and
other
amortization
expense
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94
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31
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392
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126
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Depreciation
expense
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1,151
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1,147
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4,622
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4,670
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Share-based-compensation
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419
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174
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1,219
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747
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Total
adjustments
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6,869
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3,587
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25,425
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20,732
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Adjusted
EBITDA
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$(2,170)
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$2,142
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$(6,345)
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$5,096
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Three
months ended
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Year
ended
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December
31,
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December
31,
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2017
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2016
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2017
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2016
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Ethanol
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Gallons Sold (in
millions)
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16.3
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14.6
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60.8
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55.6
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Average Sales
Price/Gallon
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$1.65
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$1.90
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$1.75
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$1.78
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WDG
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Tons Sold (in
thousands)
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107
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95
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407
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372
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Average Sales
Price/Ton
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$70
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$65
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$65
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$71
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Delivered
Cost of Corn
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Bushels ground (in
millions)
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5.7
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5.1
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21.5
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19.5
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Average delivered
cost / bushel
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$4.58
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$4.59
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$4.73
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$4.58
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Biodiesel
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Metric tons sold
(in thousands)
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3.7
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2.1
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12.2
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16.1
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Average Sales
Price/Metric ton
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$800
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$778
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$851
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$739
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Refined
Glycerin
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Metric tons sold
(in thousands)
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0.7
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1.8
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3.8
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4.4
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Average Sales
Price/Metric ton
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$997
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$567
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$810
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$582
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