Alto Ingredients, Inc. Quarterly report pursuant to Section 13 or 15(d)

Parent Company Financials. (Tables)

6 Months Ended

Jun. 30, 2021

	June 30, 2021			December 31, 2020
ASSETS
Current Assets:
Cash and cash equivalents	$	15,128		$	25,632
Receivables from subsidiaries		13,460			15,548
Other current assets		2,588			1,836
Total current assets		31,176			43,016

Property and equipment, net		108			142
Other Assets:
Investments in subsidiaries		264,645			246,518
Alto West, LLC receivable		27,592			42,649
Right of use operating lease assets, net		2,844			2,985
Other assets		796			1,088
Total other assets		295,877			293,240
Total Assets	$	327,161		$	336,398
Current Liabilities:
Accounts payable and accrued liabilities	$	5,439		$	2,001
Accrued Alto Op Co. purchase		3,829			3,829
Current portion of long-term debt		6,696			25,533
Other current liabilities		329			473
Total current liabilities		16,293			31,836

Long-term debt, net of current portion		—			5,564
Other liabilities		2,849			2,763
Total Liabilities		19,142			40,163
Stockholders’ Equity:
Preferred stock		1			1
Common and non-voting common stock		73			72
Additional paid-in capital		1,035,980			1,036,638
Accumulated other comprehensive loss		(3,878	)		(3,878	)
Accumulated deficit		(724,157	)		(736,598	)
Total Alto Ingredients, Inc. stockholders’ equity		308,019			296,235
Total Liabilities and Stockholders’ Equity	$	327,161		$	336,398

	Three Months Ended June 30,						Six Months Ended June 30,
	2021			2020			2021			2020

Management fees from subsidiaries	$	2,486		$	2,873		$	5,012		$	6,126
Selling, general and administrative expenses		4,393			4,308			9,044			9,685
Income (loss) from operations		(1,907	)		(1,435	)		(4,032	)		(3,559	)
Fair value adjustments		—			(1,314	)		—			(641	)
Interest expense, net		(704	)		(1,721	)		(1,731	)		(3,297	)
Other income (expense)		410			(140	)		1,218			(162	)
Loss before benefit for income taxes		(2,201	)		(4,610	)		(4,545	)		(7,659	)
Benefit for income taxes		—			—			—			—
Net loss		(2,201	)		(4,610	)		(4,545	)		(7,659	)
Equity in income (losses) of subsidiaries		10,591			19,574			17,613			(2,477	)
Net income (loss) attributed to Alto Ingredients, Inc.	$	8,390		$	14,964		$	13,068		$	(10,136	)

	For the Six Months Ended June 30,
	2021			2020
Operating Activities:
Net income (loss)	$	13,068		$	(10,136	)
Adjustments to reconcile net income (loss) to cash used in operating activities:
Equity in (income) losses of subsidiaries		(17,613	)		2,477
Fair value adjustments		—			(641	)
Depreciation		33			67
Amortization of debt (premiums) discounts		409			(115	)
Changes in operating assets and liabilities:
Accounts receivable		2,088			(1,207	)
Other assets		(319	)		714
Accounts payable and accrued expenses		(2,416	)		—
Accounts payable with subsidiaries		37			475
Net cash used in operating activities		(4,713	)		(8,366	)
Investing Activities:
Additions to property and equipment		—			—
Net cash used in investing activities		—			—
Financing Activities:
Proceeds from issuances of common stock		462			282
Proceeds from plant receivables		15,057			5,813
Proceeds from long-term debt		—			5,973
Payments on senior notes		(24,810	)		—
Dividend from subsidiary		3,500			—
Net cash provided by (used in) financing activities		(5,791	)		12,068
Net change in cash and cash equivalents		(10,504	)		3,702
Cash and cash equivalents at beginning of period		25,632			4,985
Cash and cash equivalents at end of period	$	15,128		$	8,687