x
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
o
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Delaware
|
55-0856151
|
(State or other jurisdiction of
incorporation or organization)
|
(I.R.S. Employer
Identification No.)
|
Large accelerated filer
|
o
|
Accelerated filer
|
x
|
Non-accelerated filer
|
o
|
Smaller reporting company
|
o
|
Class
|
Outstanding at April 30, 2015
|
Common Stock, $0.0001 par value per share
|
79,924,220
|
Page
|
||
PART I - FINANCIAL INFORMATION
|
||
PART II - OTHER INFORMATION
|
||
March 31,
2015
|
December 31,
2014
|
|||||||
Assets
|
||||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
$ | 43,781 | $ | 42,047 | ||||
Restricted cash
|
561 | — | ||||||
Short-term investments
|
1,167 | 1,375 | ||||||
Accounts receivable, net of allowance of $479 and $479, respectively
|
4,674 | 8,687 | ||||||
Related party accounts receivable
|
688 | 455 | ||||||
Inventories, net
|
11,377 | 14,506 | ||||||
Prepaid expenses and other current assets
|
7,052 | 6,534 | ||||||
Total current assets
|
69,300 | 73,604 | ||||||
Property, plant and equipment, net
|
104,509 | 118,980 | ||||||
Restricted cash
|
957 | 1,619 | ||||||
Equity and loans in affiliates
|
1,627 | 2,260 | ||||||
Other assets
|
10,576 | 13,635 | ||||||
Goodwill and intangible assets
|
6,085 | 6,085 | ||||||
Total assets
|
$ | 193,054 | $ | 216,183 | ||||
Liabilities and Deficit
|
||||||||
Current liabilities:
|
||||||||
Accounts payable
|
$ | 4,649 | $ | 3,489 | ||||
Deferred revenue
|
13,552 | 5,303 | ||||||
Accrued and other current liabilities
|
14,978 | 13,565 | ||||||
Capital lease obligation, current portion
|
277 | 541 | ||||||
Debt, current portion
|
18,193 | 17,100 | ||||||
Total current liabilities
|
51,649 | 39,998 | ||||||
Capital lease obligation, net of current portion
|
254 | 275 | ||||||
Long-term debt, net of current portion
|
93,132 | 100,122 | ||||||
Related party debt
|
131,129 | 115,239 | ||||||
Deferred rent, net of current portion
|
10,139 | 10,250 | ||||||
Deferred revenue, net of current portion
|
7,793 | 6,539 | ||||||
Derivative liabilities
|
76,577 | 59,736 | ||||||
Other liabilities
|
8,299 | 9,087 | ||||||
Total liabilities
|
378,972 | 341,246 | ||||||
Commitments and contingencies (Note 6)
|
||||||||
Stockholders’ deficit:
|
||||||||
Preferred stock - $0.0001 par value, 5,000,000 shares authorized, none issued and outstanding
|
— | — | ||||||
Common stock - $0.0001 par value, 300,000,000 shares authorized as of March 31, 2015 and December 31, 2014; 79,222,633 and 79,221,883 shares issued and outstanding as of March 31, 2015 and December 31, 2014, respectively
|
8 | 8 | ||||||
Additional paid-in capital
|
727,321 | 724,669 | ||||||
Accumulated other comprehensive loss
|
(41,489 | ) | (29,977 | ) | ||||
Accumulated deficit
|
(871,392 | ) | (819,152 | ) | ||||
Total Amyris, Inc. stockholders’ deficit
|
(185,552 | ) | (124,452 | ) | ||||
Noncontrolling interest
|
(366 | ) | (611 | ) | ||||
Total stockholders' deficit
|
(185,918 | ) | (125,063 | ) | ||||
Total liabilities and stockholders' deficit
|
$ | 193,054 | $ | 216,183 |
Three Months Ended March 31,
|
||||||||
2015
|
2014
|
|||||||
Revenues
|
||||||||
Renewable product sales
|
$ | 2,095 | $ | 2,842 | ||||
Related party renewable product sales
|
— | 3 | ||||||
Total product sales
|
2,095 | 2,845 | ||||||
Grants and collaborations revenue
|
5,777 | 3,196 | ||||||
Total grants and collaborations revenue
|
5,777 | 3,196 | ||||||
Total revenues
|
7,872 | 6,041 | ||||||
Cost and operating expenses
|
||||||||
Cost of products sold
|
6,643 | 6,236 | ||||||
Loss on purchase commitments and write-off of property, plant and equipment
|
— | 107 | ||||||
Research and development
|
12,010 | 12,986 | ||||||
Sales, general and administrative
|
14,381 | 13,399 | ||||||
Total cost and operating expenses
|
33,034 | 32,728 | ||||||
Loss from operations
|
(25,162 | ) | (26,687 | ) | ||||
Other income (expense):
|
||||||||
Interest income
|
86 | 56 | ||||||
Interest expense
|
(8,482 | ) | (4,750 | ) | ||||
Gain (loss) from change in fair value of derivative instruments
|
(17,412 | ) | 57,400 | |||||
Loss from extinguishment of debt
|
— | (9,430 | ) | |||||
Other expense, net
|
(369 | ) | (122 | ) | ||||
Total other income (expense)
|
(26,177 | ) | 43,154 | |||||
Income (loss) before income taxes and loss from investments in affiliates
|
(51,339 | ) | 16,467 | |||||
Provision for income taxes
|
(115 | ) | (111 | ) | ||||
Net income (loss) before loss from investments in affiliates
|
(51,454 | ) | 16,356 | |||||
Loss from investments in affiliates
|
(808 | ) | — | |||||
Net income (loss)
|
(52,262 | ) | 16,356 | |||||
Net income (loss) attributable to noncontrolling interest
|
22 | 29 | ||||||
Net income (loss) attributable to Amyris, Inc. common stockholders
|
$ | (52,240 | ) | $ | 16,385 | |||
Net income (loss) per share attributable to common stockholders:
|
||||||||
Basic
|
$ | (0.66 | ) | $ | 0.21 | |||
Diluted
|
$ | (0.66 | ) | $ | (0.34 | ) | ||
Weighted-average shares of common stock outstanding used in computing net loss per share of common stock:
|
||||||||
Basic
|
79,222,051 | 76,830,388 | ||||||
Diluted
|
79,222,051 | 117,097,976 |
Three Months Ended March 31,
|
||||||||
2015
|
2014
|
|||||||
Comprehensive income (loss):
|
||||||||
Net income (loss)
|
$ | (52,262 | ) | $ | 16,356 | |||
Foreign currency translation adjustment, net of tax
|
(11,245 | ) | 2,833 | |||||
Total comprehensive income (loss)
|
(63,507 | ) | 19,189 | |||||
Income attributable to noncontrolling interest
|
22 | 29 | ||||||
Foreign currency translation adjustment attributable to noncontrolling interest
|
(267 | ) | 23 | |||||
Comprehensive income (loss) attributable to Amyris, Inc.
|
$ | (63,752 | ) | $ | 19,241 |
Common Stock
|
||||||||||||||||||||||||||||
Shares
|
Amount
|
Additional Paid-in Capital
|
Accumulated Deficit
|
Accumulated Other Comprehensive Loss
|
Noncontrolling Interest
|
Total Deficit
|
||||||||||||||||||||||
December 31, 2014
|
79,221,883 | $ | 8 | $ | 724,669 | $ | (819,152 | ) | $ | (29,977 | ) | $ | (611 | ) | $ | (125,063 | ) | |||||||||||
Issuance of common stock upon exercise of stock options, net of restricted stock
|
750 | — | — | — | — | — | — | |||||||||||||||||||||
Stock-based compensation
|
— | — | 2,652 | — | — | — | 2,652 | |||||||||||||||||||||
Foreign currency translation adjustment, net of tax
|
— | — | — | — | (11,512 | ) | 267 | (11,245 | ) | |||||||||||||||||||
Net loss
|
— | — | — | (52,240 | ) | — | (22 | ) | (52,262 | ) | ||||||||||||||||||
March 31, 2015
|
79,222,633 | $ | 8 | $ | 727,321 | $ | (871,392 | ) | $ | (41,489 | ) | $ | (366 | ) | $ | (185,918 | ) |
Three Months Ended March 31,
|
||||||||
2015
|
2014
|
|||||||
Operating activities
|
||||||||
Net income (loss)
|
$ | (52,262 | ) | $ | 16,356 | |||
Adjustments to reconcile net income (loss) to net cash used in operating activities:
|
||||||||
Depreciation and amortization
|
3,490 | 3,800 | ||||||
Loss on disposal of property, plant and equipment
|
26 | 33 | ||||||
Stock-based compensation
|
2,652 | 3,514 | ||||||
Amortization of debt discount
|
3,222 | 1,599 | ||||||
Loss from extinguishment of debt
|
— | 9,430 | ||||||
Loss on purchase commitments and write-off of property, plant and equipment
|
— | 107 | ||||||
Change in fair value of derivative instruments
|
17,412 | (57,400 | ) | |||||
Loss from investments in affiliates
|
808 | — | ||||||
Other non-cash expenses
|
— | 16 | ||||||
Changes in assets and liabilities:
|
||||||||
Accounts receivable
|
4,405 | 5,095 | ||||||
Related party accounts receivable
|
(196 | ) | (142 | ) | ||||
Inventories, net
|
2,227 | 209 | ||||||
Prepaid expenses and other assets
|
376 | (410 | ) | |||||
Accounts payable
|
382 | (946 | ) | |||||
Accrued and other liabilities
|
4,782 | (732 | ) | |||||
Deferred revenue
|
9,512 | 9,500 | ||||||
Deferred rent
|
(112 | ) | 18 | |||||
Net cash used in operating activities
|
(3,276 | ) | (9,953 | ) | ||||
Investing activities
|
||||||||
Purchase of short-term investments
|
(877 | ) | (881 | ) | ||||
Maturities of short-term investments
|
893 | 1,030 | ||||||
Purchases of property, plant and equipment, net of disposals
|
(1,084 | ) | (1,308 | ) | ||||
Net cash used in investing activities
|
(1,068 | ) | (1,159 | ) | ||||
Financing activities
|
||||||||
Proceeds from issuance of common stock, net of repurchases
|
— | 1,015 | ||||||
Principal payments on capital leases
|
(365 | ) | (256 | ) | ||||
Proceeds from debt issued
|
— | 29,883 | ||||||
Proceeds from debt issued to related party
|
10,850 | 25,000 | ||||||
Principal payments on debt
|
(3,167 | ) | (3,046 | ) | ||||
Net cash provided by financing activities
|
7,318 | 52,596 | ||||||
Effect of exchange rate changes on cash and cash equivalents
|
(1,240 | ) | (554 | ) | ||||
Net increase in cash and cash equivalents
|
1,734 | 40,930 | ||||||
Cash and cash equivalents at beginning of period
|
42,047 | 6,868 | ||||||
Cash and cash equivalents at end of period
|
$ | 43,781 | $ | 47,798 |
Three Months Ended March 31,
|
||||||||
2015
|
2014
|
|||||||
Supplemental disclosures of cash flow information:
|
||||||||
Cash paid for interest
|
$ | 1,519 | $ | 967 | ||||
Supplemental disclosures of non-cash investing and financing activities:
|
||||||||
Acquisitions of property, plant and equipment under accounts payable, accrued liabilities and notes payable
|
$ | (233 | ) | $ | (75 | ) | ||
Financing of equipment
|
$ | 80 | — | |||||
Financing of insurance premium under notes payable
|
$ | (23 | ) | $ | (41 | ) | ||
Interest capitalized to debt
|
$ | 3,451 | $ | — | ||||
Purchase of property, plant and equipment via deposit
|
$ | (392 | ) | — | ||||
Receivable of proceeds for options exercised
|
— | $ | (355 | ) |
•
|
Effect significant headcount reductions, particularly with respect to employees not connected to critical or contracted activities across all functions of the Company, including employees involved in general and administrative, research and development, and production activities.
|
•
|
Shift focus to existing products and customers with significantly reduced investment in new product and commercial development efforts.
|
•
|
Reduce production activity at our Brotas manufacturing facility to levels only sufficient to satisfy volumes required for product revenues forecast from existing products and customers.
|
•
|
Reduce expenditures for third party contractors, including consultants, professional advisors and other vendors.
|
•
|
Reduce or delay uncommitted capital expenditures, including non-essential facility and lab equipment, and information technology projects.
|
•
|
Closely monitor the Company working capital position with customers and suppliers, as well as suspend operations at pilot plants and demonstration facilities.
|
•
|
Achieve planned production levels;
|
•
|
Develop and commercialize products within planned timelines or at planned scales; and
|
•
|
Continue other core activities.
|
Level 1
|
Level 2
|
Level 3
|
Balance as of
March 31, 2015
|
|||||||||||||
Financial Assets
|
||||||||||||||||
Money market funds
|
$ | 20,255 | $ | — | $ | — | $ | 20,255 | ||||||||
Certificates of deposit
|
1,167 | — | — | 1,167 | ||||||||||||
Loan to affiliate
|
— | — | 1,559 | 1,559 | ||||||||||||
Total financial assets
|
$ | 21,422 | $ | — | $ | 1,559 | $ | 22,981 | ||||||||
Financial Liabilities
|
||||||||||||||||
Loans payable
(1)
|
$ | — | $ | 11,815 | $ | — | $ | 11,815 | ||||||||
Credit facilities
(1)
|
— | 37,485 | — | 37,485 | ||||||||||||
Convertible notes
(1)
|
— | — | 241,248 | 241,248 | ||||||||||||
Compound embedded derivative liability
|
— | — | 71,952 | 71,952 | ||||||||||||
Currency interest rate swap derivative liability
|
— | 4,625 | — | 4,625 | ||||||||||||
Total financial liabilities
|
$ | — | $ | 53,925 | $ | 313,200 | $ | 367,125 |
Level 1
|
Level 2
|
Level 3
|
Balance as of
December 31, 2014
|
|||||||||||||
Financial Assets
|
||||||||||||||||
Money market funds
|
$ | 20,160 | $ | — | $ | — | $ | 20,160 | ||||||||
Certificates of deposit
|
1,375 | — | — | 1,375 | ||||||||||||
Loans to affiliate
|
— | — | 1,745 | 1,745 | ||||||||||||
Total financial assets
|
$ | 21,535 | $ | — | $ | 1,745 | $ | 23,280 | ||||||||
Financial Liabilities
|
||||||||||||||||
Loans payable
|
$ | — | $ | 16,720 | $ | — | $ | 16,720 | ||||||||
Credit facilities
|
— | 39,332 | — | 39,332 | ||||||||||||
Convertible notes
|
— | — | 222,031 | 222,031 | ||||||||||||
Compound embedded derivative liability
|
— | — | 56,026 | 56,026 | ||||||||||||
Currency interest rate swap derivative liability
|
— | 3,710 | — | 3,710 | ||||||||||||
Total financial liabilities
|
$ | — | $ | 59,762 | $ | 278,057 | $ | 337,819 |
2015
|
||||
Balance at January 1
|
$ | 222,031 | ||
Additions to convertible notes
|
14,301 | |||
Change in fair value of convertible notes
|
4,916 | |||
Balance at March 31
|
$ | 241,248 |
2015
|
||||
Balance at January 1
|
$ | 56,026 | ||
Additions to Level 3
|
229 | |||
Total income (loss) from change in fair value of derivative liability
|
15,697 | |||
Balance at March 31
|
$ | 71,952 |
March 31, 2015
|
March 31, 2014
|
|||||||||
Risk-free interest rate
|
0.53% | - | 1.18% | 0.86% | - | 1.65% | ||||
Risk-adjusted yields
|
21.3% |
and
|
24.4% | 14.7% | ||||||
Stock-price volatility
|
45% | 45% | ||||||||
Probability of change in control
|
5% | 5% | ||||||||
Stock price
|
$2.40 | $3.73 | ||||||||
Credit spread
|
20.20% | - | 23.22% | 13.05% | - | 13.84% |
Liability as of
|
||||||||||||||||
March 31, 2015
|
December 31, 2014
|
|||||||||||||||
Type of Derivative Contract
|
Quantity of
Short
Contracts
|
Fair Value
|
Quantity of
Short
Contracts
|
Fair Value
|
||||||||||||
Currency interest rate swap, included as net liability in derivative liability
|
1 | $ | 4,625 | 1 | $ | 3,710 |
Income |
Three Months Ended March 31,
|
||||||||
Type of Derivative Contract
|
Statement Classification
|
2015
|
2014
|
||||||
Gain (Loss) Recognized
|
|||||||||
Currency interest rate swap
|
Gain (loss) from change in fair value of derivative instruments
|
$ | (1,715 | ) | $ | 191 |
March 31,
2015
|
December 31,
2014
|
|||||||
Raw materials
|
$ | 2,282 | $ | 2,665 | ||||
Work-in-process
|
4,010 | 5,269 | ||||||
Finished goods
|
5,085 | 6,572 | ||||||
Inventories, net
|
$ | 11,377 | $ | 14,506 |
March 31,
2015
|
December 31,
2014
|
|||||||
Maintenance
|
$ | 401 | $ | 399 | ||||
Prepaid insurance
|
760 | 701 | ||||||
Manufacturing catalysts
|
1,286 | 1,166 | ||||||
Recoverable VAT and other taxes
|
2,604 | 2,411 | ||||||
Debt issuance costs
|
1,139 | — | ||||||
Other
|
862 | 1,857 | ||||||
Prepaid expenses and other current assets
|
$ | 7,052 | $ | 6,534 |
March 31,
2015
|
December 31,
2014
|
|||||||
Leasehold improvements
|
$ | 38,815 | $ | 39,132 | ||||
Machinery and equipment
|
80,461 | 90,657 | ||||||
Computers and software
|
8,907 | 8,946 | ||||||
Furniture and office equipment
|
2,328 | 2,445 | ||||||
Buildings
|
5,233 | 6,321 | ||||||
Vehicles
|
302 | 353 | ||||||
Construction in progress
|
36,453 | 38,815 | ||||||
172,499 | 186,669 | |||||||
Less: accumulated depreciation and amortization
|
(67,990 | ) | (67,689 | ) | ||||
Property, plant and equipment, net
|
$ | 104,509 | $ | 118,980 |
March 31,
2015
|
December 31,
2014
|
|||||||
Deposits on property and equipment, including taxes
|
$ | 1,024 | $ | 1,738 | ||||
Recoverable taxes from Brazilian government entities
|
7,412 | 9,747 | ||||||
Debt issuance costs
|
931 | 851 | ||||||
Other
|
1,209 | 1,299 | ||||||
Total other assets
|
$ | 10,576 | $ | 13,635 |
March 31,
2015
|
December 31,
2014
|
|||||||
Professional services
|
$ | 3,335 | $ | 2,015 | ||||
Accrued vacation
|
2,188 | 2,213 | ||||||
Payroll and related expenses
|
3,179 | 5,393 | ||||||
Tax-related liabilities
|
1,421 | 277 | ||||||
Deferred rent, current portion
|
1,111 | 1,111 | ||||||
Accrued interest
|
2,250 | 1,308 | ||||||
Contractual obligations to contract manufacturers
|
425 | 310 | ||||||
Other
|
1,069 | 938 | ||||||
Total accrued and other current liabilities
|
$ | 14,978 | $ | 13,565 |
March 31,
2015
|
December 31,
2014
|
|||||||
Fair market value of swap obligation
|
$ | 4,625 | $ | 3,710 | ||||
Fair value of compound embedded derivative liabilities
(1)
|
71,952 | 56,026 | ||||||
Total derivative liabilities
|
$ | 76,577 | $ | 59,736 |
(1)
|
The compound embedded derivative liabilities represent the fair value of the bifurcated conversion options that contain "make-whole" provisions or down round conversion price adjustment provisions included in the outstanding Total Notes, Tranche I Notes, Tranche II Notes and the Rule 144A Convertible Note Offering (see Note 3, "Fair value of financial instruments" and Note 5, "Debt").
|
March 31,
2015
|
December 31,
2014
|
|||||||
FINEP credit facility
|
$ | 1,258 | $ | 1,614 | ||||
BNDES credit facility
|
3,275 | 4,314 | ||||||
Hercules loan facility
|
29,805 | 29,779 | ||||||
Total credit facilities
|
34,338 | 35,707 | ||||||
Convertible notes
|
61,795 | 60,418 | ||||||
Related party convertible notes
|
131,129 | 115,239 | ||||||
Loans payable
|
15,192 | 21,097 | ||||||
Total debt
|
242,454 | 232,461 | ||||||
Less: current portion
|
(18,193 | ) | (17,100 | ) | ||||
Long-term debt
|
$ | 224,261 | $ | 215,361 |
•
|
the Company was required to share with FINEP the costs associated with the FINEP Project. At a minimum, the Company was required to contribute from its own funds approximately R$14.5 million (approximately US$4.5 million based on the exchange rate as of March 31, 2015) of which R$11.1 million was contributed prior to the release of the second disbursement. All four disbursements were completed and the Company has fulfilled all of its cost sharing obligations;
|
•
|
after the release of the first disbursement, prior to any subsequent drawdown from the FINEP Credit Facility, the Company was required to provide bank letters of guarantee of up to R$3.3 million in aggregate (approximately US$1.0 million based on the exchange rate as of March 31, 2015). On December 17, 2012 and prior to release of the second disbursement on December 26, 2012, the Company obtained the required bank letter of guarantees from Banco ABC Brasil S.A. (or "ABC"); and
|
•
|
amounts disbursed under the FINEP Credit Facility were required to be used towards the FINEP Project within 30 months after the contract execution.
|
•
|
As part of an initial closing under the Total Purchase Agreement (which was completed in two installments), (i) on July 30, 2012, the Company sold a Total Note with a principal amount of $38.3 million, including $15.0 million in new funds and $23.3 million in previously-provided diesel research and development funding by Total, and (ii) on September 14, 2012, the Company sold another Total Note for $15.0 million in new funds from Total.
|
•
|
At a second closing under the Total Purchase Agreement (also completed in two installments) the Company sold additional Total Notes for an aggregate of $30.0 million in new funds from Total ($10.0 million in June 2013 and $20.0 million in July 2013).
|
•
|
At a third closing under the Total Purchase Agreement (also completed in two installments) the Company sold additional Total Notes for an aggregate of $21.7 million in new funds from Total ($10.85 million in July 2014 and $10.85 million in January 2015) (or the “Third Closing Notes”).
|
•
|
reduce the conversion price for the $30.0 million in principal amount of Total Notes to be issued in connection with the second closing of the Total Notes (as described above) from $7.0682 per share to a price per share equal to the greater of (i) the consolidated closing bid price of the Company's common stock on the date of the March 2013 Letter Agreement, plus $0.01, and (ii) $3.08 per share, provided that the conversion price would not be reduced by more than the maximum possible amount permitted under the rules of The NASDAQ Stock Market (or “NASDAQ”) such that the new conversion price would require the Company to obtain stockholder consent; and
|
•
|
grant Total a senior security interest in the Company's intellectual property, subject to certain exclusions and subject to release by Total when the Company and Total enter into final documentation regarding the establishment of the Fuels JV.
|
Years ending December 31:
|
Related Party
Convertible Debt
|
Convertible
Debt
|
Loans
Payable
|
Credit
Facility
|
Total
|
|||||||||||||||
2015 (remaining nine months)
|
$ | 1,610 | $ | 3,645 | $ | 2,434 | $ | 13,470 | $ | 21,159 | ||||||||||
2016
|
1,606 | 4,020 | 2,702 | 19,538 | 27,866 | |||||||||||||||
2017
|
81,321 | 28,715 | 2,590 | 7,124 | 119,750 | |||||||||||||||
2018
|
74,485 | 15,685 | 2,480 | 324 | 92,974 | |||||||||||||||
2019
|
75,825 | 56,798 | 2,370 | 88 | 135,081 | |||||||||||||||
Thereafter
|
— | — | 5,613 | — | 5,613 | |||||||||||||||
Total future minimum payments
|
234,847 | 108,863 | 18,189 | 40,544 | 402,443 | |||||||||||||||
Less: amount representing interest
(1)
|
(103,718 | ) | (47,068 | ) | (2,997 | ) | (6,206 | ) | (159,989 | ) | ||||||||||
Present value of minimum debt payments
|
131,129 | 61,795 | 15,192 | 34,338 | 242,454 | |||||||||||||||
Less: current portion
|
— | — | (2,360 | ) | (15,833 | ) | (18,193 | ) | ||||||||||||
Noncurrent portion of debt
|
$ | 131,129 | $ | 61,795 | $ | 12,832 | $ | 18,505 | $ | 224,261 |
(1)
|
Including debt discount of $77.2 million related to the embedded derivatives associated with the related party and non-related party convertible debt which will be accreted to interest expense under the effective interest method over the term of the convertible debt.
|
Years ending December 31:
|
Capital
Leases
|
Operating
Leases
|
Total Lease
Obligations
|
|||||||||
2015 (remaining nine months)
|
$ | 237 | $ | 5,508 | $ | 5,745 | ||||||
2016
|
301 | 6,687 | 6,988 | |||||||||
2017
|
44 | 6,693 | 6,737 | |||||||||
2018
|
— | 6,744 | 6,744 | |||||||||
2019
|
— | 6,771 | 6,771 | |||||||||
Thereafter
|
— | 25,193 | 25,193 | |||||||||
Total future minimum lease payments
|
582 | $ | 57,596 | $ | 58,178 | |||||||
Less: amount representing interest
|
(51 | ) | ||||||||||
Present value of minimum lease payments
|
531 | |||||||||||
Less: current portion
|
(277 | ) | ||||||||||
Long-term portion
|
$ | 254 |
March 31,
|
||||||||
(In thousands)
|
2015
|
2014
|
||||||
Balance at January 1
|
$ | 2,192 | $ | — | ||||
Share in net loss offset to equity investment
|
(447 | ) | — | |||||
Share in net loss offset to loans to affiliate
|
(361 | ) | — | |||||
Accretion of imputed interest
|
175 | — | ||||||
Balance at March 31
|
$ | 1,559 | $ | — |
(In thousands)
|
March 31,
2015
|
December 31,
2014
|
||||||
Assets
|
$ | 19,260 | $ | 22,812 | ||||
Liabilities
|
578 | 290 |
2015
|
2014
|
|||||||
Balance at January 1
|
$ | 611 | $ | 584 | ||||
Foreign currency translation adjustment
|
(267 | ) | 23 | |||||
Income attributable to noncontrolling interest
|
22 | 29 | ||||||
Balance at March 31
|
$ | 366 | $ | 636 |
March 31, 2015
|
December 31, 2014
|
||||||||||||||||||||||||||
Useful Life
in Years
|
Gross Carrying Amount
|
Accumulated Amortization
|
Net Carrying Value
|
Gross Carrying Amount
|
Accumulated Amortization/
Impairment
|
Net Carrying Value
|
|||||||||||||||||||||
In-process research and development
|
Indefinite
|
$ | 5,525 | $ | — | $ | 5,525 | $ | 8,560 | $ | (3,035 | ) | $ | 5,525 | |||||||||||||
Acquired licenses and permits
|
2 | — | — | — | 772 | (772 | ) | — | |||||||||||||||||||
Goodwill
|
Indefinite
|
560 | — | 560 | 560 | — | 560 | ||||||||||||||||||||
$ | 6,085 | $ | — | $ | 6,085 | $ | 9,892 | $ | (3,807 | ) | $ | 6,085 |
Number
Outstanding
|
Weighted-
Average
Exercise
Price
|
Weighted-
Average
Remaining
Contractual
Life (Years)
|
Aggregate
Intrinsic
Value
|
|||||||||||||
(in thousands)
|
||||||||||||||||
Outstanding - December 31, 2014
|
10,539,978 | $ | 6.10 | 7.22 | $ | 50 | ||||||||||
Options granted
|
690,470 | $ | 2.07 | |||||||||||||
Options exercised
|
(750 | ) | $ | 0.28 | ||||||||||||
Options cancelled
|
(526,967 | ) | $ | 4.77 | ||||||||||||
Outstanding - March 31, 2015
|
10,702,731 | $ | 5.91 | 7.15 | $ | 338 | ||||||||||
Vested and Expected to vest after March 31, 2015
|
10,044,763 | $ | 6.08 | 7.03 | $ | 290 | ||||||||||
Exercisable at March 31, 2015
|
5,270,940 | $ | 8.39 | 5.53 | $ | 78 |
RSUs
|
Weighted-Average
Grant-Date Fair
Value
|
Weighted Average
Remaining
Contractual Life
(Years)
|
||||||||||
Outstanding - December 31, 2014
|
1,975,503 | $ | 3.59 | 0.93 | ||||||||
Awarded
|
300,000 | $ | 1.92 | — | ||||||||
Vested
|
— | $ | — | — | ||||||||
Forfeited
|
(172,432 | ) | $ | 3.27 | — | |||||||
Outstanding - March 31, 2015
|
2,103,071 | $ | 3.18 | 1.36 | ||||||||
Expected to vest after March 31, 2015
|
1,922,632 | $ | 3.18 | 0.78 |
Options Outstanding
|
Options Exercisable
|
||||||||||||||||||||
Exercise Price
|
Number of Options
|
Weighted-
Average
Remaining
Contractual Life
(Years)
|
Weighted-Average
Exercise Price
|
Number of Options
|
Weighted-Average
Exercise Price
|
||||||||||||||||
$ 0.10—$2.68 | 1,141,556 | 8.43 | $ | 2.20 | 298,495 | $ | 2.30 | ||||||||||||||
$ 2.70—$2.85 | 1,115,745 | 8.01 | $ | 2.77 | 566,649 | $ | 2.77 | ||||||||||||||
$ 2.87—$3.04 | 1,105,362 | 7.41 | $ | 2.91 | 556,563 | $ | 2.90 | ||||||||||||||
$ 3.05—$3.44 | 946,013 | 7.48 | $ | 3.15 | 343,894 | $ | 3.13 | ||||||||||||||
$ 3.51—$3.51 | 2,144,202 | 9.10 | $ | 3.51 | — | $ | — | ||||||||||||||
$ 3.55—$3.93 | 1,875,162 | 5.76 | $ | 3.87 | 1,298,849 | $ | 3.89 | ||||||||||||||
$ 4.06—$16.00 | 1,385,513 | 4.94 | $ | 9.69 | 1,285,410 | $ | 9.90 | ||||||||||||||
$ 16.50—$25.43 | 561,116 | 5.33 | $ | 20.53 | 543,018 | $ | 20.53 | ||||||||||||||
$ 26.84—$26.84 | 368,062 | 5.89 | $ | 26.84 | 318,062 | $ | 26.84 | ||||||||||||||
$ 30.17—$30.17 | 60,000 | 5.96 | $ | 30.17 | 60,000 | $ | 30.17 | ||||||||||||||
$ 0.10—$30.17 | 10,702,731 | 7.15 | $ | 5.91 | 5,270,940 | $ | 8.39 |
Three Months Ended March 31,
|
||||||||
2015
|
2014
|
|||||||
Research and development
|
$ | 716 | $ | 798 | ||||
Sales, general and administrative
|
1,936 | 2,716 | ||||||
Total stock-based compensation expense
|
$ | 2,652 | $ | 3,514 |
Three Months Ended March 31,
|
||||||||
2015
|
2014
|
|||||||
Expected dividend yield
|
— | % | — | % | ||||
Risk-free interest rate
|
1.6 | % | 2.0 | % | ||||
Expected term (in years)
|
5.96 | 6.2 | ||||||
Expected volatility
|
74 | % | 76 | % |
Three Months Ended March 31,
|
||||||||
2015
|
2014
|
|||||||
United States
|
$ | 5,222 | $ | 1,974 | ||||
Brazil
|
983 | 648 | ||||||
Europe
|
832 | 3,353 | ||||||
Asia
|
835 | 66 | ||||||
Total
|
$ | 7,872 | $ | 6,041 |
March 31, 2015
|
December 31, 2014
|
|||||||
United States
|
$ | 42,704 | $ | 44,418 | ||||
Brazil
|
61,455 | 74,197 | ||||||
Europe
|
350 | 365 | ||||||
Total
|
$ | 104,509 | $ | 118,980 |
March 31, 2015
|
December 31, 2014
|
|||||||
Foreign currency translation adjustment, net of tax
|
$ | (41,489 | ) | $ | (29,977 | ) | ||
Total accumulated other comprehensive loss
|
$ | (41,489 | ) | $ | (29,977 | ) |
Three Months Ended March 31,
|
||||||||
2015
|
2014
|
|||||||
Numerator:
|
||||||||
Net income (loss) attributable to Amyris, Inc. common stockholders
|
$ | (52,240 | ) | $ | 16,385 | |||
Interest on convertible debt
|
— | 1,657 | ||||||
Accretion of debt discount
|
— | 1,588 | ||||||
Gain (loss) from change in fair value of derivative instruments
|
— | (59,272 | ) | |||||
Net income (loss) attributable to Amyris, Inc. common stockholders after assumed conversion
|
$ | (52,240 | ) | $ | (39,642 | ) | ||
Denominator:
|
||||||||
Weighted average shares of common stock outstanding for basic EPS
|
79,222,051 | 76,830,388 | ||||||
Basic earnings (loss) per share
|
$ | (0.66 | ) | $ | 0.21 | |||
Weighted average shares of common stock outstanding
|
79,222,051 | 76,830,388 | ||||||
Effect of dilutive securities:
|
||||||||
Convertible promissory notes
|
— | 40,267,588 | ||||||
Weighted common stock equivalents
|
— | 40,267,588 | ||||||
Diluted weighted-average common shares
|
79,222,051 | 117,097,976 | ||||||
Diluted earnings (loss) per share
|
$ | (0.66 | ) | $ | (0.34 | ) |
Three Months Ended March 31,
|
||||||||
2015
|
2014
|
|||||||
Period-end stock options to purchase common stock
|
10,702,731 | 8,177,593 | ||||||
Convertible promissory notes
|
78,500,456 | 13,293,065 | ||||||
Period-end common stock subject to repurchase
|
— | — | ||||||
Period-end common stock warrants
|
1,021,087 | 1,021,087 | ||||||
Period-end restricted stock units
|
2,103,071 | 2,142,774 | ||||||
Total
|
92,327,345 | 24,634,519 |
Three Months Ended March 31,
|
Year-to-Year
|
Percentage
|
||||||||||||
2015
|
2014
|
Change
|
Change
|
|||||||||||
(Dollars in thousands)
|
||||||||||||||
Revenues
|
||||||||||||||
Renewable product sales
|
$
|
2,095
|
$
|
2,842
|
$
|
(747)
|
(26)%
|
|||||||
Related party renewable product sales
|
—
|
3
|
(3)
|
(100)%
|
||||||||||
Total product sales
|
2.095
|
2,845
|
(750)
|
(26)%
|
||||||||||
Grants and collaborations revenue
|
5,777
|
3,196
|
2,581
|
81%
|
||||||||||
Total grants and collaborations revenue
|
5,777
|
3,196
|
2,581
|
81%
|
||||||||||
Total revenues
|
$
|
7,872
|
$
|
6,041
|
$
|
1,831
|
30%
|
Three Months Ended March 31,
|
Year-to-Year
|
Percentage
|
||||||||||||
2015
|
2014
|
Change
|
Change
|
|||||||||||
(Dollars in thousands)
|
||||||||||||||
Cost of products sold
|
$
|
6,643
|
$
|
6,236
|
$
|
407
|
7%
|
|||||||
Loss on purchase commitments and write-off of production assets
|
—
|
107
|
(107)
|
(100)%
|
||||||||||
Research and development
|
12,010
|
12,986
|
(976)
|
(8)%
|
||||||||||
Sales, general and administrative
|
14,381
|
13,399
|
982
|
7%
|
||||||||||
Total cost and operating expenses
|
$
|
33,034
|
$
|
32,728
|
$
|
306
|
1%
|
Three Months Ended March 31,
|
Year-to-Year
|
Percentage
|
||||||||||||
2015
|
2014
|
Change |
Change
|
|||||||||||
(Dollars in thousands)
|
||||||||||||||
Other income (expense):
|
||||||||||||||
Interest income
|
$
|
86
|
$
|
56
|
$
|
30
|
54%
|
|||||||
Interest expense
|
(7,360
|
)
|
(4,750
|
)
|
(2,610
|
)
|
55%
|
|||||||
Gain (loss) from change in fair value of derivative instruments
|
(17,412
|
)
|
57,400
|
(74,812
|
)
|
(130)%
|
||||||||
Income (loss) from extinguishment of debt
|
—
|
(9,430)
|
9,430
|
(100)%
|
||||||||||
Other income (expense), net
|
(1,491
|
)
|
(122
|
)
|
(1,369
|
)
|
1122%
|
|||||||
Total other income (expense)
|
$
|
(26,177
|
)
|
$
|
43,154
|
$
|
(69,331
|
)
|
(161)%
|
March 31,
2015
|
December 31,
2014
|
|||||||
(Dollars in thousands)
|
||||||||
Working capital deficit, excluding cash and cash equivalents
|
$
|
(
26,130
|
) |
$
|
(8,441
|
)
|
||
Cash and cash equivalents and short-term investments
|
$
|
44,948
|
$
|
43,422
|
||||
Debt and capital lease obligations
|
$
|
242,985
|
$
|
233,277
|
||||
Accumulated deficit
|
$
|
(871,392
|
)
|
$
|
(819,152
|
)
|
Three Months Ended March 31,
|
||||||||
2015
|
2014
|
|||||||
(Dollars in thousands)
|
||||||||
Net cash used in operating activities
|
$ | (3,276 | ) | $ | (9,953 | ) | ||
Net cash used in investing activities
|
$ | (1,068 | ) | $ | (1,159 | ) | ||
Net cash provided by financing activities
|
$ | 7,318 | $ | 52,596 |
•
|
Effect significant headcount reductions, particularly with respect to employees not connected to critical or contracted activities across all functions of the Company, including employees involved in general and administrative, research and development, and production activities.
|
•
|
Shift focus to existing products and customers with significantly reduced investment in new product and commercial development efforts.
|
•
|
Reduce production activity at our Brotas manufacturing facility to levels only sufficient to satisfy volumes required for product revenues forecast from existing products and customers.
|
•
|
Reduce expenditures for third party contractors, including consultants, professional advisors and other vendors.
|
•
|
Reduce or delay uncommitted capital expenditures, including non-essential facility and lab equipment, and information technology projects.
|
•
|
Closely monitor the Company’s working capital position with customers and suppliers, as well as suspend operations at pilot plants and demonstration facilities.
|
•
|
Achieve planned production levels;
|
•
|
Develop and commercialize products within planned timelines or at planned scales; and
|
•
|
Continue other core activities.
|
•
|
We are required to share with FINEP the costs associated with the FINEP Project. At a minimum, we are required to contribute approximately R$14.5 million (US$ 4.5 million based on the exchange rate as of March 31, 2015) of which R$11.1 million was contributed prior to the release of the second disbursement. All four disbursements have been completed and we have fulfilled all of our cost sharing obligations,
|
•
|
After the release of the first disbursement, prior to any subsequent drawdown from the FINEP Credit Facility, we were required to provide bank letters of guarantee of up to R$3.3 million in aggregate (approximately US$1.0 million based on the exchange rate as of March 31, 2015) before receiving the second installment in December 2012. We obtained the bank letters of guarantee from ABC,
|
•
|
Amounts disbursed under the FINEP Credit Facility were required to be used towards the FINEP Project within 30 months after the contract execution.
|
Total
|
2015
|
2016
|
2017
|
2018
|
2019
|
Thereafter
|
||||||||||||||||||||||
Principal payments on long-term debt
|
$
|
319.699
|
$
|
13,276
|
$
|
20,240
|
$
|
106,591
|
$
|
59,750
|
$
|
114,607
|
$
|
5,235
|
||||||||||||||
Interest payments on long-term debt, fixed rate
(1)
|
82,745
|
7,883
|
7,625
|
13,160
|
33,224
|
20,474
|
379
|
|||||||||||||||||||||
Operating leases
|
57,596
|
5,508
|
6,687
|
6,693
|
6,744
|
6,771
|
25,193
|
|||||||||||||||||||||
Principal payments on capital leases
|
531
|
205
|
283
|
43
|
—
|
—
|
—
|
|||||||||||||||||||||
Interest payments on capital leases
|
51
|
32
|
18
|
1
|
—
|
—
|
—
|
|||||||||||||||||||||
Terminal storage costs
|
85
|
51
|
34
|
—
|
—
|
—
|
—
|
|||||||||||||||||||||
Purchase obligations
(2)
|
2,375
|
1,066
|
422
|
856
|
31
|
—
|
—
|
|||||||||||||||||||||
Total
|
$
|
463,082
|
$
|
28,021
|
$
|
35,309
|
$
|
127,344
|
$
|
99,749
|
$
|
141,852
|
$
|
30,807
|
(1)
|
Does not include any obligations related to make-whole interest or downround provisions. The fixed interest rates are more fully described in Note 5, "Debt" of our condensed consolidated financial statements.
|
(2)
|
Purchase obligations include noncancellable contractual obligations and construction commitments of $1.3 million, of which zero have been accrued as loss on purchase commitments.
|
•
|
Effect significant headcount reductions, particularly with respect to employees not connected to critical or contracted activities across all functions of the Company, including employees involved in general and administrative, research and development, and production activities.
|
•
|
Shift focus to existing products and customers with significantly reduced investment in new product and commercial development efforts.
|
•
|
Reduce production activity at our Brotas manufacturing facility to levels only sufficient to satisfy volumes required for product revenues forecast from existing products and customers.
|
•
|
Reduce expenditures for third party contractors, including consultants, professional advisors and other vendors.
|
•
|
Reduce or delay uncommitted capital expenditures, including non-essential facility and lab equipment, and information technology projects.
|
•
|
Closely monitor the Company working capital position with customers and suppliers, as well as suspend operations at pilot plants and demonstration facilities.
|
•
|
Achieve planned production levels;
|
•
|
Develop and commercialize products within planned timelines or at planned scales; and
|
•
|
Continue other core activities.
|
•
|
$48.3 million of convertible promissory notes with a conversion price of $7.0682 per share, which were issued under agreements signed in 2012, including the arrangement with Total for research and development-related funding,
|
•
|
$30.0 million of convertible promissory notes with a conversion price of $3.08 per share and, $21.70 million of convertible promissory notes with a conversion price of $4.11 per share, all of which were issued pursuant to our arrangement with Total for research and development-related funding,
|
•
|
$57.4 million in convertible promissory notes that are convertible into common stock at an initial conversion price of $2.44 per share issued under the first tranche of the August 2013 Financing (or Tranche I Notes),
|
•
|
$37.5 million in convertible promissory notes that are convertible into common stock at an initial conversion price of $2.87 per share issued under the second tranche of the August 2013 Financing (or Tranche II Notes), and
|
•
|
$75.0 million in convertible promissory notes that are convertible into common stock at a conversion price of $3.74 per share issued in the 144A Offering.
|
•
|
we will be required to use a substantial portion of our cash flow from operations to pay principal and interest on our indebtedness, thereby reducing the availability of our cash flow to fund working capital, capital expenditures, product development efforts, acquisitions, investments and strategic alliances and other general corporate requirements;
|
•
|
our substantial leverage increases our vulnerability to economic downturns and adverse competitive and industry conditions and could place us at a competitive disadvantage compared to those of our competitors that are less leveraged;
|
•
|
our debt service obligations could limit our flexibility in planning for, or reacting to, changes in our business and our industry and could limit our ability to pursue other business opportunities, borrow more money for operations or capital in the future and implement our business strategies;
|
•
|
our level of indebtedness and the covenants within our debt instruments may restrict us from raising additional financing on satisfactory terms to fund working capital, capital expenditures, product development efforts, strategic acquisitions, investments and alliances, and other general corporate requirements; and
|
•
|
and our substantial leverage may make it difficult for us to attract additional financing when needed.
|
•
|
we will generate sufficient cash inflows from collaborations;
|
•
|
our business will generate sufficient cash flow from operations;
|
•
|
we will realize cost savings, revenue growth and operating improvements resulting from the execution of our long-term plan; or
|
•
|
future sources of funding will be available to us in amounts sufficient to enable us to fund our liquidity needs.
|
•
|
product price;
|
•
|
product performance and other measures of quality;
|
•
|
infrastructure compatibility of products;
|
•
|
sustainability; and
|
•
|
dependability of supply.
|
•
|
because our research methodology, including our screening technology, may not successfully identify medically relevant product candidates;
|
•
|
we may identify and select from our discovery platform novel, untested classes of product candidates for the particular disease indication we are pursuing, which may be challenging to validate because of the novelty of the product candidates or we may fail to validate at all after further research work;
|
•
|
our product candidates may cause adverse effects in patients or subjects, even after successful initial toxicology studies, which may make the product candidates unmarketable;
|
•
|
our product candidates may not demonstrate a meaningful benefit to patients or subjects; and
|
•
|
collaboration partners may change their development profiles or plans for potential product candidates or abandon a therapeutic area or the development of a partnered product.
|
•
|
delays or failures in securing licenses, permits or other governmental approvals necessary to build and operate facilities and use our yeast strains to produce products;
|
•
|
rapid consolidation in the sugar and ethanol industries in Brazil, which could result in a decrease in competition;
|
•
|
political, economic, diplomatic or social instability in or affecting Brazil;
|
•
|
changing interest rates;
|
•
|
tax burden and policies;
|
•
|
effects of changes in currency exchange rates;
|
•
|
exchange controls and restrictions on remittances abroad;
|
•
|
inflation;
|
•
|
land reform or nationalization movements;
|
•
|
changes in labor related policies;
|
•
|
export or import restrictions that limit our ability to move our products out of Brazil or interfere with the import of essential materials into Brazil;
|
•
|
changes in, or interpretations of foreign regulations that may adversely affect our ability to sell our products or repatriate profits to the United States;
|
•
|
tariffs, trade protection measures and other regulatory requirements;
|
•
|
compliance with United States and foreign laws that regulate the conduct of business abroad;
|
•
|
an inability, or reduced ability, to protect our intellectual property in Brazil including any effect of compulsory licensing imposed by government action; and
|
•
|
difficulties and costs of staffing and managing foreign operations.
|
•
|
achievement, or failure, with respect to technology, product development or manufacturing milestones needed to allow us to enter identified markets on a cost effective basis;
|
•
|
delays or greater than anticipated expenses associated with the completion or commissioning of new production facilities, or the time to ramp up and stabilize production following completion of a new production facility or the transition to, and ramp up of, producing new molecules at our existing facilities;
|
•
|
impairment of assets based on shifting business priorities and working capital limitations;
|
•
|
disruptions in the production process at any manufacturing facility, including disruptions due to seasonal or unexpected downtime at our facilities as a result of feedstock availability, contamination, safety or other issues or other technical difficulties or the scheduled downtime at our facilities as a result of transitioning our equipment to the production of different molecules;
|
•
|
losses of, or the inability to secure new, major customers, suppliers, distributors or collaboration partners;
|
•
|
losses associated with producing our products as we ramp to commercial production levels;
|
•
|
failure to recover value added tax (or VAT) that we currently reflect as recoverable in our financial statements (e.g., due to failure to meet conditions for reimbursement of VAT under local law);
|
•
|
the timing, size and mix of sales to customers for our products;
|
•
|
increases in price or decreases in availability of feedstock;
|
•
|
the unavailability of contract manufacturing capacity altogether or at reasonable cost;
|
•
|
exit costs associated with terminating contract manufacturing relationships;
|
•
|
fluctuations in foreign currency exchange rates;
|
•
|
gains or losses associated with our hedging activities;
|
•
|
change in the fair value of derivative instruments;
|
•
|
fluctuations in the price of and demand for sugar, ethanol, and petroleum-based and other products for which our products are alternatives;
|
•
|
seasonal variability in production and sales of our products;
|
•
|
competitive pricing pressures, including decreases in average selling prices of our products;
|
•
|
unanticipated expenses associated with changes in governmental regulations and environmental, health, labor and safety requirements;
|
•
|
reductions or changes to existing fuel and chemical regulations and policies;
|
•
|
departure of executives or other key management employees resulting in transition and severance costs;
|
•
|
our ability to use our net operating loss carryforwards to offset future taxable income;
|
•
|
business interruptions such as earthquakes, tsunamis and other natural disasters;
|
•
|
our ability to integrate businesses that we may acquire;
|
•
|
our ability to successfully collaborate with business venture partners;
|
•
|
risks associated with the international aspects of our business; and
|
•
|
changes in general economic, industry and market conditions, both domestically and in our foreign markets.
|
•
|
manage multiple research and development programs;
|
•
|
operate multiple manufacturing facilities around the world;
|
•
|
develop and improve our operational, financial and management controls;
|
•
|
enhance our reporting systems and procedures;
|
•
|
recruit, train and retain highly skilled personnel;
|
•
|
develop and maintain our relationships with existing and potential business partners;
|
•
|
maintain our quality standards; and
|
•
|
maintain customer satisfaction.
|
•
|
we or our licensors were the first to make the inventions covered by each of our issued patents and pending patent applications;
|
•
|
we or our licensors were the first to file patent applications for these inventions;
|
•
|
others will independently develop similar or alternative technologies or duplicate any of our technologies;
|
•
|
any of our or our licensors' patents will be valid or enforceable;
|
•
|
any patents issued to us or our licensors will provide us with any competitive advantages, or will be challenged by third parties;
|
•
|
we will develop additional proprietary products or technologies that are patentable; or
|
•
|
the patents of others will have an adverse effect on our business.
|
•
|
infringement and other intellectual property claims, which could be costly and time consuming to litigate, whether or not the claims have merit, and which could delay getting our products to market and divert management attention from our business;
|
•
|
substantial damages for past infringement, which we may have to pay if a court determines that our product candidates or technologies infringe a third party's patent or other proprietary rights;
|
•
|
a court prohibiting us from selling or licensing our technologies or future products unless the holder licenses the patent or other proprietary rights to us, which it is not required to do; and
|
•
|
if a license is available from a third party, such third party may require us to pay substantial royalties or grant cross licenses to our patents or proprietary rights.
|
•
|
fluctuations in our financial results or outlook or those of companies perceived to be similar to us;
|
•
|
changes in estimates of our financial results or recommendations by securities analysts;
|
•
|
changes in market valuations of similar companies;
|
•
|
changes in the prices of commodities associated with our business such as sugar, ethanol and petroleum or changes in the prices of commodities that some of our products may replace, such as oil and other petroleum sourced products;
|
•
|
changes in our capital structure, such as future issuances of securities or the incurrence of debt;
|
•
|
announcements by us or our competitors of significant contracts, acquisitions or strategic alliances;
|
•
|
regulatory developments in the United States, Brazil, and/or other foreign countries;
|
•
|
litigation involving us, our general industry or both;
|
•
|
additions or departures of key personnel;
|
•
|
investors' general perception of us; and
|
•
|
changes in general economic, industry and market conditions.
|
•
|
our executive officers and directors and their affiliates (including Total) together held approximately 40.2% of our outstanding common stock;
|
•
|
Temasek (who has a designee on our Board of Directors) held approximately 13.0% of our outstanding common stock;
|
•
|
Total held approximately 17.0% of our outstanding common stock; and
|
•
|
Biolding Investment SA held approximately 9.4% of our outstanding common stock.
|
•
|
a staggered board of directors;
|
•
|
authorizing the board of directors to issue, without stockholder approval, preferred stock with rights senior to those of our common stock;
|
•
|
authorizing the board of directors to amend our bylaws and to fill board vacancies until the next annual meeting of the stockholders;
|
•
|
prohibiting stockholder action by written consent;
|
•
|
limiting the liability of, and providing indemnification to, our directors and officers;
|
•
|
eliminating the ability of our stockholders to call special meetings; and
|
•
|
requiring advance notification of stockholder nominations and proposals.
|
(b)
|
Exhibits.
|
Exhibit
|
Previously Filed
|
Filed
|
|||||||||
No.
|
Description
|
Form
|
File No.
|
Filing Date
|
Exhibit
|
Herewith
|
|||||
3.01
|
Restated Certificate of Incorporation
|
10-Q
|
001-34885
|
November 10, 2010
|
3.01
|
||||||
3.02
|
Certificate of Amendment to Restated Certificate of Incorporation dated May 12, 2014
|
10-Q
|
001-34885
|
August 8, 2014
|
3.02
|
||||||
3.03
|
Restated Bylaws
|
10-Q
|
001-34885
|
November 10, 2010
|
3.02
|
||||||
4.01
a
|
1.5% Senior Secured Convertible Note due 2017 dated January 27, 2014 issued by registrant to Total Energies Nouvelles Activités USA
|
X
|
|||||||||
4.02
|
Registration Rights Agreement, dated as of February 24, 2015, by and between Amyris, Inc. and Nomis Bay Ltd.
|
8-K
|
001-34885
|
February 26, 2015
|
4.01
|
||||||
10.01
a
|
Modification No. 15, dated as of February 6, 2015, to Technology Investment Agreement between registrant and The Defense Advanced Research Project Agency (DARPA)
|
X
|
|||||||||
10.02
|
Common Stock Purchase Agreement, dated as of February 24, 2015, by and between registrant and Nomis Bay Ltd.
|
8-K
|
001-34885
|
February 26, 2015
|
10.01
|
||||||
10.03
|
Engagement Letter, dated as of February 24, 2015, by and between registrant and Financial West Group
|
8-K
|
001-34885
|
February 26, 2015
|
10.02
|
||||||
10.04
|
Securities Purchase Agreement, dated as of March 30, 2015, by and between registrant and Naxyris, S.A.
|
X
|
|||||||||
10.05
|
Second Amendment to Loan and Security Agreement, dated as of March 31, 2015, by and among registrant, Hercules Technology Growth Capital Inc., and the other parties joined thereto
|
X
|
|||||||||
10.06
ab
|
Third Amendment, dated as of January 27, 2015, to the Agreement for the Supply of Sugar Cane Juice and Other Utilities, by and between Amyris Brasil Ltda. and Tonon Bioenergia S.A.
|
X
|
|||||||||
10.07
ab
|
Fourth Amendment, dated as of March 3, 2015, to the Private Instrument of Non-Residential Real Estate Lease Agreement, by and among Amyris Brasil Ltda., Lucius Tomasiello and Mauricio Tomasiello
|
X
|
|||||||||
31.01
|
Certification of Chief Executive Officer pursuant to Securities Exchange Act Rules 13a-14(c) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
X
|
|||||||||
31.02
|
Certification of Chief Financial Officer pursuant to Securities Exchange Act Rules 13a-14(c) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
X
|
|||||||||
32.01
c
|
Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
X
|
|||||||||
32.02
c
|
Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
X
|
|||||||||
101
d
|
The following materials from Registrant's Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2015, formatted in XBRL (Extensible Business Reporting Language): (i) the Consolidated Statements of Operations; (ii) the Consolidated Balance Sheets; (iii) the Consolidated Statements of Comprehensive Income; (iv) the Consolidated Statements of Convertible Preferred Stock, Redeemable Noncontrolling Interest and Equity (Deficit); (v) the Consolidated Statements of Cash Flows; and (vi) Notes to Consolidated Financial Statements
|
X
|
a
|
Portions of this exhibit have been omitted pending a determination by the Securities and Exchange Commission as to whether these portions should be granted confidential treatment.
|
b
|
Translation to English from Portuguese in accordance with Rule 12b-12(d) of the regulations promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended (the "Exchange Act").
|
c
|
This certification shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liability of that Section, nor shall it be deemed incorporated by reference into any filing under the Securities Act or the Exchange Act.
|
d
|
Pursuant to applicable securities laws and regulations, registrant is deemed to have complied with the reporting obligation relating to the submission of interactive data files in such exhibits and is not subject to liability under any anti-fraud provisions of the federal securities laws as long as registrant has made a good faith attempt to comply with the submission requirements and promptly amends the interactive data files after becoming aware that the interactive data files fails to comply with the submission requirements. These interactive data files are deemed not filed or part of a registration statement or prospectus for purposes of sections 11 or 12 of the Securities Act, are deemed not filed for purposes of section 18 of the Exchange Act and otherwise are not subject to liability under these sections.
|
(c)
|
Financial statements and schedules.
|
Dated:
May
7
, 2015
|
AMYRIS, INC.
|
/s/ JOHN G. MELO
|
|
John G. Melo
|
|
Director, President and Chief Executive Officer
|
|
(Principal Executive Officer)
|
Dated: May
7
, 2015
|
|
/s/ RAFFI ASADORIAN
|
|
Raffi Asadorian
|
|
Chief Financial Officer
|
|
(Principal Financial Officer)
|
Previously Filed
|
Filed
|
||||||||||
No.
|
Description
|
Form
|
File No.
|
Filing Date
|
Exhibit
|
Herewith
|
|||||
3.01
|
Restated Certificate of Incorporation
|
10-Q
|
001-34885
|
November 10, 2010
|
3.01
|
||||||
3.02
|
Certificate of Amendment to Restated Certificate of Incorporation dated May 12, 2014
|
10-Q
|
001-34885
|
August 8, 2014
|
3.02
|
||||||
3.03
|
Restated Bylaws
|
10-Q
|
001-34885
|
November 10, 2010
|
3.02
|
||||||
4.01
a
|
1.5% Senior Secured Convertible Note due 2017 dated January 27, 2014 issued by registrant to Total Energies Nouvelles Activités USA
|
X
|
|||||||||
4.02
|
Registration Rights Agreement, dated as of February 24, 2015, by and between Amyris, Inc. and Nomis Bay Ltd.
|
8-K
|
001-34885
|
February 26, 2015
|
4.01
|
||||||
10.01
a
|
Modification No. 15, dated as of February 6, 2015, to Technology Investment Agreement between registrant and The Defense Advanced Research Project Agency (DARPA)
|
X
|
|||||||||
10.02
|
Common Stock Purchase Agreement, dated as of February 24, 2015, by and between registrant and Nomis Bay Ltd.
|
8-K
|
001-34885
|
February 26, 2015
|
10.01
|
||||||
10.03
|
Engagement Letter, dated as of February 24, 2015, by and between registrant and Financial West Group
|
8-K
|
001-34885
|
February 26, 2015
|
10.02
|
||||||
10.04
|
Securities Purchase Agreement, dated as of March 30, 2015, by and between registrant and Naxyris, S.A.
|
X
|
|||||||||
10.05
|
Second Amendment to Loan and Security Agreement, dated as of March 31, 2015, by and among registrant, Hercules Technology Growth Capital Inc., and the other parties joined thereto
|
X
|
|||||||||
10.06
ab
|
Third Amendment, dated as of January 27, 2015, to the Agreement for the Supply of Sugar Cane Juice and Other Utilities, by and between Amyris Brasil Ltda. and Tonon Bioenergia S.A.
|
X
|
|||||||||
10.07
ab
|
Fourth Amendment, dated as of March 3, 2015, to the Private Instrument of Non-Residential Real Estate Lease Agreement, by and among Amyris Brasil Ltda., Lucius Tomasiello and Mauricio Tomasiello
|
X
|
|||||||||
31.01
|
Certification of Chief Executive Officer pursuant to Securities Exchange Act Rules 13a-14(c) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
X
|
|||||||||
31.02
|
Certification of Chief Financial Officer pursuant to Securities Exchange Act Rules 13a-14(c) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
X
|
|||||||||
32.01
c
|
Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
X
|
|||||||||
32.02
c
|
Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
X
|
|||||||||
101
d
|
The following materials from Registrant's Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2015, formatted in XBRL (Extensible Business Reporting Language): (i) the Consolidated Statements of Operations; (ii) the Consolidated Balance Sheets; (iii) the Consolidated Statements of Comprehensive Income; (iv) the Consolidated Statements of Convertible Preferred Stock, Redeemable Noncontrolling Interest and Equity (Deficit); (v) the Consolidated Statements of Cash Flows; and (vi) Notes to Consolidated Financial Statements
|
X
|
a
|
Portions of this exhibit have been omitted pending a determination by the Securities and Exchange Commission as to whether these portions should be granted confidential treatment.
|
b
|
Translation to English from Portuguese in accordance with Rule 12b-12(d) of the regulations promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended (the "Exchange Act").
|
c
|
This certification shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liability of that Section, nor shall it be deemed incorporated by reference into any filing under the Securities Act or the Exchange Act.
|
d
|
Pursuant to applicable securities laws and regulations, registrant is deemed to have complied with the reporting obligation relating to the submission of interactive data files in such exhibits and is not subject to liability under any anti-fraud provisions of the federal securities laws as long as registrant has made a good faith attempt to comply with the submission requirements and promptly amends the interactive data files after becoming aware that the interactive data files fails to comply with the submission requirements. These interactive data files are deemed not filed or part of a registration statement or prospectus for purposes of sections 11 or 12 of the Securities Act, are deemed not filed for purposes of section 18 of the Exchange Act and otherwise are not subject to liability under these sections.
|
CONFIDENTIAL TREATMENT REQUESTED. CERTAIN PORTIONS OF THIS DOCUMENT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND, WHERE APPLICABLE, HAVE BEEN MARKED WITH AN ASTERISK TO DENOTE WHERE OMISSIONS HAVE BEEN MADE. THE CONFIDENTIAL MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.
|
RS-8 | January 27, 2015 |
AMYRIS, INC.
|
|||
By:
|
/s/ John Melo | ||
Name:
John Melo
|
|||
Title:
President and Chief Executive Officer
|
Conversion Information:
|
TOTAL ENERGIES NOUVELLES
ACTIVITÉS USA:
|
|
By:
|
||
Print Name:
|
||
Print Title:
|
||
Address:
|
||
24 Cours Michelet
92800 Puteaux, France
Attn: *
Fax. No.: *
|
||
Issue Common Stock:
|
at:
|
||
Date of Conversion
|
||
Applicable Conversion Price
|
||
Page 2 to Conversion Notice for:
|
Total Energies Nouvelles Activités USA
|
Face Amount converted:
|
$
|
||
Conversion Price
|
$
|
||
Number of shares of Common Stock =
|
Total dollar amount converted
=
|
$
|
|
Conversion Price
|
|||
Number of shares of Common Stock =
|
|||
Please issue and deliver ___ certificate(s) for shares of Common Stock in the following amount(s):
|
|||
Please issue and deliver ______ new Note(s) in the following amounts:
|
|||
CONFIDENTIAL TREATMENT REQUESTED. CERTAIN PORTIONS OF THIS DOCUMENT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND, WHERE APPLICABLE, HAVE BEEN MARKED WITH AN ASTERISK TO DENOTE WHERE OMISSIONS HAVE BEEN MADE. THE CONFIDENTIAL MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.
|
1.
|
Article II(A), “Term of this Agreement,” is hereby revised to reflect the below change:
|
2.
|
Article II(C), “Term of this Agreement,” is hereby revised to reflect the below change:
|
3.
|
The Attachment No. 3, “Schedule of Payments and Payable Milestones,” is modified to reflect a change to the due date (“Month”) as noted below:
|
4.
|
A fully conformed version of Agreement No. HR0011-12-3-0006 through P00015, reflecting the changes summarized above, is provided as Enclosure 1 to this modification. All changes to the Modification No. P00015 conformed Agreement are highlighted in yellow.
|
5.
|
Except as modified above, the terms and conditions of Agreement No. HR0011-12-3-0006 shall remain unchanged and in full force and effect.
|
FOR AMYRIS INC
|
FOR THE DEFENSE ADVANCED
RESEARCH PRODUCTS AGENCY
|
|
/s/ Nicholas Khadder
|
/s/ Michael D. Blackstone 2015.02.06
|
|
(Signature & Date)
|
(Signature & Date)
|
|
Nicholas Khadder
|
Michael D. Blackstone
|
|
Vice President & General Counsel
|
Agreements Officer
|
FOR AMYRIS INC
|
FOR THE DEFENSE ADVANCED
RESEARCH PRODUCTS AGENCY
|
|
//See Modification No. P00015//
|
||
(Signature & Date)
|
(Signature & Date)
|
|
Michael D. Blackstone
|
||
Agreements Officer
|
||
(Name, Title)
|
(Name, Title)
|
ARTICLES
|
PAGE
|
|
ARTICLE I
|
Scope of the Agreement
|
4
|
ARTICLE II
|
Term
|
7
|
ARTICLE III
|
Management of the Project
|
8
|
ARTICLE IV
|
Agreement Administration
|
9
|
ARTICLE V
|
Obligation and Payment
|
10
|
ARTICLE VI
|
Disputes
|
13
|
ARTICLE VII
|
Patent Rights
|
14
|
ARTICLE VIII
|
Data Rights
|
17
|
ARTICLE IX
|
Foreign Access to Technology
|
18
|
ARTICLE X
|
Title to and Disposition of Property
|
20
|
ARTICLE XI
|
Civil Rights Act
|
20
|
ARTICLE XII
|
Security
|
20
|
ARTICLE XIII
|
Subcontractors
|
21
|
ARTICLE XIV
|
Key Personnel
|
21
|
ARTICLE XV
|
Export Control
|
21
|
ARTICLE XVI
|
Order of Precedence
|
22
|
ARTICLE XVII
|
Execution
|
22
|
ARTICLE XVIII
|
Applicable Law
|
22
|
ARTICLE XIX
|
Severability
|
22
|
ARTICLE XX
|
Force Majeure
|
23
|
ATTACHMENTS
|
||
ATTACHMENT 1
|
Statement of Work
|
|
ATTACHMENT 2
|
Report Requirements
|
|
ATTACHMENT 3
|
Schedule of Payments and Payable Milestones
|
|
ATTACHMENT 4
|
Funding Schedule
|
|
ATTACHMENT 5
|
List of Intellectual Property Assertions
|
|
a.
|
For the Issue By DoDAAC enter HR0011
|
|
b.
|
For the Admin DoDAAC and Ship To fields, enter S0507A.
|
|
c.
|
For the Service Acceptor field, enter HR0011, Extension 01.
|
|
d.
|
Leave the Inspect by DoDAAC, Ship From Code DoDAAC and LPO DoDAAC fields blank unless otherwise directed by the Agreements Officer or Administrative Agreements Officer.
|
|
e.
|
The following guidance is provided for invoicing processed under this Agreement through WAWF:
|
•
|
The AOR identified at Article IV "Agreement Administration" shall continue to formally inspect and accept the deliverables/payable milestones. To the maximum extent practicable, the AOR shall review the deliverable(s)/payable milestone report(s) and either: 1) provide a written notice of rejection to the Performer which includes feedback
|
•
|
Acceptance within the WAWF system shall be performed by the Agreements Officer upon receipt of a confirmation email, or other form of transmittal, from the AOR.
|
•
|
The Performer shall send an email notice to the AOR and Agreements Officer upon submission of an invoice in WAWF (this can be done from within WAWF).
|
•
|
Payments shall be made by DFAS-CO/WEST (HQ0339)
|
•
|
The Performer agrees, when entering invoices entered in WAWF to utilize the CLINs associated with each payable milestone as delineated at Attachment 3. The description of the CLIN shall include reference to the associated milestone number along with other necessary descriptive information. The Performer agrees that the Government may reject invoices not submitted in accordance with this provision.
|
•
|
Cage Code: 47QN9
|
•
|
DUNS: 185930182
|
•
|
TIN:
55-0856151
|
|
1.
|
The Performer agrees to submit, during the term of the Agreement, an annual report on the general subject matter research at Performer or its Collaborators, licensees or assignees in connection with utilization of a Subject Invention or on efforts at obtaining such utilization that is being made by the Performer or its Collaborators, licensees or assignees. Such reports shall include information regarding the general fields of potential products where such Subject Inventions may ultimately assist in commercial sales. The Performer also agrees to provide additional reports as may be requested by DARPA in connection with any march-in proceedings undertaken by DARPA in accordance with paragraph J of this Article. Consistent with 35 U.S.C. § 202(c)(5), DARPA agrees it shall not disclose such information to persons outside the Government without permission of the Performer.
|
|
2
|
All required reporting shall be accomplished, to the extent possible, using the i-Edison reporting website:
https://s-edison.info.nih.gov/iEdison/
. To the extent any such reporting cannot be
|
A.
|
The Performer shall notify the Agreements Officer in writing prior to making any change in key personnel. The following individuals are designated as key personnel for the purposes of this Agreement:
|
Name
|
Role/Title
|
% of time
|
Jack Newman
|
Chief Science Officer
|
60%
|
Sunil Chandran
|
Team Leader
|
100%
|
B.
|
When replacing any of the personnel identified above, the Performer must demonstrate that the qualifications of the prospective personnel are acceptable to the Government as reasonably determined by the Program Manager. Substitution of key personnel shall be documented by modification to the Agreement made in accordance with the procedures outlined in Article III, paragraph C.
|
•
|
DNA ligase cycling parameters and the complexity, size, and success rate of the assembled full length DNA constructs.
|
•
|
Reaction parameters and the success and cost of performing sequencing QC on DNA assemblies.
|
•
|
Designer nuclease number, type, and targeting site and the integration efficiency in to the chassis genome.
|
MILESTONE
|
Task
|
Month
|
Payable Milestones
|
Exit Criteria
|
Performer Payment
|
DARPA Payment
|
SUBLCIN/
ACRN
|
Phase I
|
|||||||
1
|
*
|
*
|
*
|
*
|
*
|
*
|
00101/AA
|
2
|
*
|
*
|
*
|
*
|
*
|
*
|
00201/AA
|
3
|
*
|
*
|
*
|
*
|
*
|
*
|
00301/AA
|
4
|
*
|
*
|
*
|
*
|
*
|
*
|
00401/AA
|
5
|
*
|
*
|
*
|
*
|
*
|
*
|
00501/AA
|
Total
|
$ 335,834
|
$ 3,022,501
|
|||||
Phase 2
|
|||||||
6
|
*
|
*
|
*
|
*
|
*
|
*
|
00601/AB
|
7
|
*
|
*
|
*
|
*
|
*
|
*
|
00701/AB
|
8
|
*
|
*
|
*
|
*
|
*
|
*
|
00801/AB
|
9
|
*
|
*
|
*
|
*
|
*
|
*
|
00901/AB
|
10
|
*
|
*
|
*
|
*
|
*
|
*
|
01001/AB
|
11
|
*
|
*
|
*
|
*
|
*
|
*
|
001101/AC
|
12
|
*
|
*
|
*
|
*
|
*
|
*
|
001201/AC
|
13
|
*
|
*
|
*
|
*
|
*
|
*
|
001301/AD
|
14
|
*
|
*
|
*
|
*
|
*
|
*
|
001401/AD
@ $76,747
001402/AC
@ $351,946
|
15
|
*
|
*
|
*
|
*
|
*
|
*
|
001501/AC
|
16
|
*
|
*
|
*
|
*
|
*
|
*
|
001601/AD
|
Total
|
$
583,461
|
$
4,711,808
|
|||||
Phase 1 & Phase 2
|
|||||||
Total
|
$
919,295
|
$
7,734,309
|
DARPA
Performer
|
Funding
Contribution
|
||
Base (Phase I)
|
|||
FY 12 (At time of award)
|
$3,595,518
|
$399,501
|
|
FY 13 (on or about November 2012)
|
$ 370,411
|
$ 41,158
|
|
Modification P00007 Reduction
|
($943,428)
|
($104,825)
|
|
Phase 1 Totals
|
$3,022,501
|
$335,834
|
|
Option (Phase 2)
|
|||
FY 13 (At time of Exercise)
|
$2,079,497
|
$231,055
|
|
FY 13 (Modification P00008)
|
$ 552,931
|
$ 61,437
|
|
FY13 (Modification P00009)
|
$ 645,890
|
$ 71,765
|
|
FY 14 (
Modification P00011
)
|
$
1,353.490
|
$
150,388
|
|
FY 14 (
Modification P00013
)
|
$ 80,000
|
$68,816
|
|
Phase 2 Totals
|
$4,711,808
|
$583,461
|
|
AGREEMENT TOTALS
|
$ 7,734,309
|
$919,295
|
Total Contribution
|
Cash*
|
In-kind**
|
|
Phase 1
|
$335,834
|
$335,834
|
$0
|
Phase 2
|
$583,461
|
$583,461
|
$0
|
Total
|
$919,295
|
$919,295
|
$0
|
Technical Data Computer Software to be Furnished with Restrictions
|
Basis for Assertion
|
Asserted
Rights
Category
|
Name of
Person
Asserting
Restrictions
|
Production of Isoprenoids, Application US 11/754,235, Patent No. US 7,659,097
(US 20080274523)
|
Developed
exclusively at private
expense
|
Restricted
Rights
|
Amyris, Inc.
|
Production of Isoprenoids, ApplicationUS 12/638,771, Patent No. (US2011/0287476)
|
Developed
exclusively at private
expense
|
Restricted
Rights
|
Amyris, Inc.
|
Production of Isoprenoids, Application PCT/US2007/069807, Patent No. (WO2007/140339)
|
Developed
exclusively at private
expense
|
Restricted
Rights
|
Amyris, Inc.
|
Nucleic Acids, Compositions and Methods for the Excision of Target Nucleic Acids, Application US 12/978,061, Patent No. US 7,919,605
|
Developed
exclusively at private
expense
|
Restricted
Rights
|
Amyris, Inc.
|
Nucleic Acids, Compositions and Methods for the Excision of Target Nucleic Acids, Application US
13/220,553, Patent No. (US 2012/0052582)
|
Developed
exclusively at private
expense
|
Restricted
Rights
|
Amyris, Inc.
|
Nucleic Acids, Compositions and Methods for the Excision of Target Nucleic Acids, Application PCT/US2011/049615, Patent No. (WO 2012/030747)
|
Developed
exclusively at private
expense
|
Restricted
Rights
|
Amyris, Inc.
|
Compositions and Methods for the Rapid Assembly of Polynucleotides, Developed exclusively at private expense Application US 12/622,401, Patent No. (US 2010/0136633)
|
Developed
exclusively at private
expense
|
Restricted
Rights
|
Amyris, Inc.
|
Compositions and Methods for the Rapid Assembly of Polynucleotides, Application US 12/684,874, Patent No. US 8,110,360 (US 2010/0124768)
|
Developed
exclusively at private
expense
|
Restricted
Rights
|
Amyris, Inc.
|
*
|
Developed
exclusively at private
expense
|
Restricted
Rights
|
Amyris, Inc.
|
*
|
Developed
exclusively at private
expense
|
Restricted
Rights
|
Amyris, Inc.
|
Technical Data Computer Software to be Furnished with Restrictions
|
Basis for Assertion
|
Asserted
Rights
Category
|
Name of
Person
Asserting
Restrictions
|
*
|
|||
*
|
Developed exclusively at private expense
|
Restricted
Rights
|
Amyris, Inc.
|
*
|
Developed exclusively at private expense
|
Restricted
Rights
|
Amyris, Inc.
|
*
|
Developed exclusively at private expense
|
Restricted
Rights
|
Amyris, Inc.
|
*
|
Developed exclusively at private expense
|
Restricted
Rights
|
Amyris, Inc.
|
*
|
Developed exclusively at private expense
|
Restricted
Rights
|
Amyris, Inc.
|
*
|
Developed exclusively at private expense
|
Restricted
Rights
|
Amyris, Inc.
|
*
|
Software suites were developed exclusively with private funding.
|
Limited Rights
|
Amyris, Inc.
|
*
|
Software suites were Developed exclusively with private funding
|
Limited Rights
|
Amyris, Inc.
|
Technical Data Computer Software to be Furnished with Restrictions
|
Basis for Assertion
|
Asserted
Rights
Category
|
Name of
Person
Asserting
Restrictions
|
*
|
|||
*
|
Amyris has generated extensive information related to the isoprenoid pathways which will be used as a benchmark to assess performance of this proposal but the underlying comparative data was developed exclusively with private funding.
|
Restricted
Rights
|
Amyris, Inc.
|
CONFIDENTIAL TREATMENT REQUESTED. CERTAIN PORTIONS OF THIS DOCUMENT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND, WHERE APPLICABLE, HAVE BEEN MARKED WITH AN ASTERISK TO DENOTE WHERE OMISSIONS HAVE BEEN MADE. THE CONFIDENTIAL MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.
|
THE COMPANY:
|
|||
AMYRIS, INC.
|
|||
By: |
/s/ John Melo
|
||
(Signature)
|
|||
Name: |
John Melo
|
||
Title: |
President & CEO
|
||
Address:
5885 Hollis Street, Suite 100
Emeryville, CA 94608
Attention: General Counsel
Facsimile:
(510) 899-0165
Email:
|
PURCHASER:
|
|||
NAXYRIS S.A.
|
|||
/s/ Christoph Piel
/s/ Jacques Reckinger
|
|||
(Signature)
|
|||
Name: Christoph PIEL Jacques RECKINGER
|
|||
Director Director | |||
Title:
|
|||
Address:
40, Boulevard Joseph II
L-1840 Luxembourg
Attention: Sam Reckinger and Christoph Piel
Facsimile:
00 352 45 31 33
Email:
Sam.Reckinger@bdl.lu
and
Christoph.PIEL@bdl.lu
|
1.
|
Common Stock Purchase Agreement, dated as of February 24, 2015 between Nomis Bay Ltd and the Company.
|
2.
|
Loan and Security Agreement, dated as of March 29, 2014, as amended by that certain First Amendment to Loan and Security Agreement on June 12, 2014, and further amended by that certain Second Amendment to Loan and Security Agreement on March 30, 2015, among Hercules Technology Growth Capital and the Company (and the other subsidiaries of the Company joined as parties thereto).
|
Parent:
|
||||
Amyris, Inc.
|
||||
By: |
/s/ R Asadorian
|
|||
Print Name: |
R. Asdorian
|
|||
Title: |
CFO
|
Accepted in Palo Alto, California:
|
Agent:
|
|||
Hercules Technology Growth Capital, Inc.
|
||||
By: | ||||
Print Name: | ||||
Title: |
Lender:
|
|||
Hercules Technology Growth Capital, Inc.
|
|||
By: | |||
Print Name: | |||
Title: |
Parent:
|
||||
Amyris, Inc.
|
||||
By: | ||||
Print Name: | ||||
Title: |
|
Accepted in Palo Alto, California:
|
Agent:
|
|||
Hercules Technology Growth Capital, Inc.
|
||||
By: | /s/ Christine Fera | |||
Print Name: | Christine Fera | |||
Title: | Director of Contract Originations |
Lender:
|
||||
Hercules Technology Growth Capital, Inc.
|
||||
By: | /s/ Christine Fera | |||
Print Name: | Christine Fera | |||
Title: | Director of Contract Originations |
Subsidiary Guarantor:
|
||||
Amyris Fuels, LLC
|
||||
By: | /s/ Nicholas Khadder | |||
Print Name: | Nicholas Khadder | |||
Title: |
Secretary
|
$25,000,000
|
Advance Date: [______]
|
Maturity Date: March 31, 2016
|
AMYRIS, INC. | |||
By: | |||
Name: | John G. Melo | ||
Title: | President and Chief Executive Officer |
CONFIDENTIAL TREATMENT REQUESTED. CERTAIN PORTIONS OF THIS DOCUMENT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND, WHERE APPLICABLE, HAVE BEEN MARKED WITH AN ASTERISK TO DENOTE WHERE OMISSIONS HAVE BEEN MADE. THE CONFIDENTIAL MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.
|
1) /s/ Antonio Carlos Wiesser | 2) /s/ Mayrara Muniz de Freitas |
Name: Antonio Carlos Wiesser | Name: Mayrara Muniz de Freitas |
RG: | RG: |
1.
Identification
|
2.
Description
|
3.
Specifications
|
PR
|
Parameters
|
Methodologies
|
Specification
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
*
|
4.
Storage
|
5.
' Observations
|
CONFIDENTIAL TREATMENT REQUESTED. CERTAIN PORTIONS OF THIS DOCUMENT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND, WHERE APPLICABLE, HAVE BEEN MARKED WITH AN ASTERISK TO DENOTE WHERE OMISSIONS HAVE BEEN MADE. THE CONFIDENTIAL MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.
|
1. | / s/ Edison Souza | 2. | /s/ (ILLEGIBLE) | ||
Name: Edison Souza | Name: ILLEGIBLE | ||||
RG: | RG: | ||||
CPF/MF: | CPF/MF: |
|
1.
|
I have reviewed this Quarterly Report on Form 10-Q of Amyris, Inc.;
|
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
|
4.
|
The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
|
c)
|
Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
|
d)
|
Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
|
|
5.
|
The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
|
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
|
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
|
Date: May 7, 2015
|
/s/ JOHN G. MELO
|
||
John Melo
|
|||
President and Chief Executive Officer
|
|
1.
|
I have reviewed this Quarterly Report on Form 10-Q of Amyris, Inc.;
|
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
|
4.
|
The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
|
c)
|
Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
|
d)
|
Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
|
|
5.
|
The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
|
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
|
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
|
Date: May 7, 2015
|
/s/ RAFFI ASADORIAN
|
||
Raffi Asadorian
|
|||
Chief Financial Officer
|
Date:
May 7, 2015
|
|
/s/ JOHN G. MELO
|
|||
John Melo
|
|||||
President and Chief Executive Officer
|
|||||
(Principal Executive Officer)
|
Date: May 7, 2015
|
/s/ RAFFI ASADORIAN
|
|||
Raffi Asadorian
|
||||
Chief Financial Officer
|
||||
(Principal Financial Officer)
|