Alto Ingredients, Inc. Annual report pursuant to Section 13 and 15(d)

Parent Company Financials. (Tables)

12 Months Ended

Dec. 31, 2020

	December 31,
ASSETS	2020			2019
Current Assets:
Cash and cash equivalents	$	25,632		$	4,985
Receivables from subsidiaries		15,548			13,057
Other current assets		1,836			2,349
Total current assets		43,016			20,391

Property and equipment, net		142			269

Other Assets:
Investments in subsidiaries		246,518			218,464
Right of use lease assets		2,985			3,253
Alto West LLC receivable		42,649			55,750
Other assets		1,088			1,452
Total other assets		293,240			278,919

Total Assets	$	336,398		$	299,579
Current Liabilities:
Accounts payable and accrued liabilities	$	2,001		$	5,907
Accrued Alto Op Co. purchase		3,829			3,829
Current portion of long-term debt		25,533			10,000
Other current liabilities		473			659
Total current liabilities		31,836			20,395

Long-term debt, net		5,564			56,110
Other liabilities		2,763			3,294
Total Liabilities		40,163			79,799
Stockholders’ Equity:
Preferred stock		1			1
Common and non-voting common stock		72			56
Additional paid-in capital		1,036,638			942,307
Accumulated other comprehensive loss		(3,878	)		(2,370	)
Accumulated deficit		(736,598	)		(720,214	)
Total Alto Ingredients, Inc. stockholders’ equity		296,235			219,780
Total Liabilities and Stockholders’ Equity	$	336,398		$	299,579

	Years Ended December 31,
	2020			2019
Management fees from subsidiaries	$	11,724		$	12,682
Selling, general and administrative expenses		16,990			16,007
Loss from operations		(5,266	)		(3,325	)
Fair value adjustments		(9,959	)		—
Loss on debt extinguishment		—			(6,517	)
Interest income		4,011			4,600
Interest expense		(10,095	)		(9,637	)
Other expense, net		(220	)		(86	)
Loss before benefit for income taxes		(21,529	)		(14,965	)
Benefit for income taxes		17			20
Loss before equity in earnings of subsidiaries		(21,512	)		(14,945	)
Equity in income (losses) of subsidiaries		6,396			(74,004	)
Consolidated net loss	$	(15,116	)	$	(88,949	)

	For the Years Ended December 31,
	2020			2019
Operating Activities:
Net loss	$	(15,116	)	$	(88,949	)
Adjustments to reconcile net loss to cash provided by (used in) operating activities:
Equity in (income) losses of subsidiaries		(6,396	)		74,004
Depreciation		127			267
Fair value adjustments		9,959			—
Loss on debt extinguishment		—			6,517
Amortization of debt discounts		(230	)		689
Changes in operating assets and liabilities:
Other assets		883			3,277
Accounts payable and accrued expenses		(5,378	)		2,673
Accounts receivable with subsidiaries		(2,491	)		2,115
Accounts payable with subsidiaries		—			(49	)
Net cash provided by (used in) operating activities	$	(18,642	)	$	544
Investing Activities:
Additions to property and equipment	$	—		$	(14	)
Investments in subsidiaries		(20,865	)		—
Net cash used in investing activities	$	(20,865	)	$	(14	)
Financing Activities:
Proceeds from issuance of common stock	$	75,829		$	3,670
Proceeds from warrant exercises		5,500			—
Proceeds from CARES Act loans		5,973			—
Proceeds from West receivable		13,101			—
Debt issuances costs		—			(1,280	)
Payments on senior notes		(40,249	)		(3,748	)
Preferred stock dividend payments		—			(946	)
Net cash provided by (used in) financing activities	$	60,154		$	(2,304	)
Net increase (decrease) in cash and cash equivalents		20,647			(1,774	)
Cash and cash equivalents at beginning of period		4,985			6,759
Cash and cash equivalents at end of period	$	25,632		$	4,985