AEMETIS, INC — Director's Dealing 2010

Feb 12, 2010

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: AE Biofuels, Inc. (AEBF)
CIK: 0000738214
Period of Report: 2009-12-31

Reporting Person: PETERSON MICHAEL L (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-12-01	Common Stock	J	411233	—	Acquired	611233	Indirect
2008-12-12	Common Stock	A	11557	—	Acquired	4753	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-05-21	Stock Option - NSO (Right to Buy)	$0.16	A	200000	Acquired	2014-05-20	Common Stock (200000)	Direct

Footnotes

F1: A change in form of ownership as a result of the distribution of the Pascal Investment Partners Equity Fund securities, of which the reporting person holds a 41% interest.

F2: Mr. Peterson is Trustee for the Peterson Family Trust dtd 8/16/00.

F3: The Fund was granted an additional 11,557 shares due to a penalty distribution by the Company; the closing price of the shares on the date of distribution was $3.35; Mr. Peterson retains 41% ownership in the Fund.

F4: Mr. Peterson holds 41% interest in the Pascal Investment Partners Equity Fund and 100% of Pascal Management LLC, which is its sole general partner.

F5: Grant of Stock Option pursuant to the Company's 2007 Stock Option Plan; 50% of the options vest at grant date and 1/24th vest every 3 months thereafter.