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10-Q
GEVO, INC. filed this Form 10-Q on 11/05/2013
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PART I. FINANCIAL INFORMATION

Item 1. Financial Statements.

GEVO, INC.

Consolidated Balance Sheets

(in thousands, except share and per share amounts)

(unaudited)

   

 

   

September 30, 2013

   

      

December 31, 2012

   

Assets

   

   

   

      

   

   

   

Current assets:

   

   

   

      

   

   

   

Cash and cash equivalents

$

25,661

      

      

$

66,744

      

Accounts receivable

   

867

      

      

   

698

      

Inventories

   

4,196

      

      

   

6,659

      

Prepaid expenses and other current assets

   

1,269

      

      

   

1,508

      

Derivative assets

   

95

      

      

   

271

      

Total current assets

   

32,088

      

      

   

75,880

      

Property, plant and equipment, net

   

82,697

      

      

   

77,093

      

Debt issue costs, net

   

942

      

      

   

1,736

      

Deposits and other assets

   

1,402

      

      

   

1,402

      

Total assets

$

117,129

      

      

$

156,111

      

Liabilities

   

   

   

      

   

   

   

Current liabilities:

   

   

   

      

   

   

   

Accounts payable and accrued liabilities

$

19,218

      

      

$

8,244

      

Current portion of secured debt, net of $665 and $856 discount at September 30, 2013 and December 31, 2012, respectively

   

10,477

      

      

   

8,513

      

Derivative liabilities

   

11

      

      

   

12

      

Total current liabilities

   

29,706

      

      

   

16,769

      

Long-term portion of secured debt, net of $309 and $784 discount at September 30, 2013 and December 31, 2012, respectively

   

7,432

      

      

   

15,445

      

Convertible notes, net

   

14,815

      

      

   

25,554

      

Other long-term liabilities

   

413

      

      

   

512

      

Total liabilities

   

52,366

      

      

   

58,280

      

Commitments and Contingencies

   

   

   

      

   

   

   

Stockholders' Equity

   

   

   

      

   

   

   

Preferred stock, $0.01 par value per share; 10,000,000 shares authorized; none issued and outstanding at September 30, 2013 and December 31, 2012

   

—  

      

      

   

—  

      

Common stock, $0.01 par value per share; 150,000,000 shares authorized; 47,184,896 and 39,606,668 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively

   

472

      

      

   

396

      

Additional paid-in capital

   

309,115

      

      

   

292,782

      

Deficit accumulated during development stage

   

(244,824

      

   

(195,347

Total stockholders' equity

   

64,763

      

      

   

97,831

      

Total liabilities and stockholders' equity

$

117,129

      

      

$

156,111

      

   

   

   

   

   

   

   

   

   

See notes to unaudited consolidated financial statements.

   

   

   

 

 3 


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