we received approximately $ 6.6 million in gross proceeds from this offering , not including any future proceeds from the exercise of the warrants . ● in april 2015 , we completed a 1-for-15 reverse stock split that was previously approved by our stockholders at a special meeting held on april 13 , 2015. the reverse stock split was intended to increase the market price per share of our common stock to allow us to maintain the listing of our common stock on the nasdaq capital market . ● in may 2015 , we completed the sale of 4,300,000 common stock units and warrants . we received approximately $ 17.2 million in gross proceeds from the offering , not including any future proceeds from the exercise of the warrants . ● in june 2015 , we entered into an agreement with fcstone merchant services , llc to originate and supply corn for the our production facility in luverne , minnesota ( the “ agri-energy facility ” ) . engaging fcstone to conduct our corn purchasing at luverne is expected to free up more than $ 1 million of working capital , which had previously been tied up in corn inventory . ● in august 2015 , we announced that we entered into worldwide patent cross-license and settlement agreements with butamax advanced biofuels llc ( “ butamax ” ) , e.i . du pont de nemours & company ( “ dupont ” ) and bp biofuels north america llc ( “ bp ” and , together with butamax and dupont , the “ butamax parties ” ) , ending a patent dispute related to technologies for the production of bio-based isobutanol . the settlement ends all of the lawsuits and creates a new relationship between the companies , aimed at leveraging each other 's strengths and accelerating development of 54 competitive supply for bio-based isobutanol . for m ore information regarding the settlement agreement and the cross-license agreement , see item 1 “ business— butamax advanced biofuels llc and item 3 legal proceedings ” . ● in november 2015 , we entered into a license agreement and a joint development agreement with praj industries limited ( `` praj `` ) to enable the licensing of our isobutanol technology to processors of non-corn based sugars , including the majority of praj 's global customer base of ethanol plant owners . ● in december 2015 , we completed the sale of 2,050,000 series a units and 8,000,000 series b units . we received gross proceeds of approximately $ 10 million , not including any future proceeds from the exercise of the warrants . subsequent events ● on january 26 , 2016 , we filed a current report on form 8-k , stating that it had received a letter from the staff of the nasdaq stock market llc ( “ nasdaq ” ) providing notification that , for the previous 30 consecutive business days , the bid price for the company 's common stock had closed below the minimum $ 1.00 per share requirement for continued listing on the nasdaq capital market under nasdaq listing rule 5550 ( a ) ( 2 ) . in accordance with nasdaq listing rule 5810 ( c ) ( 3 ) ( a ) , we have been provided an initial period of 180 calendar days , or until july 25 , 2016 , to regain compliance . we intend to monitor the bid price of our common stock and our minimum market value of listed securities and will consider options available to us to achieve compliance . ● in february 2016 , we announced that we had entered into a license agreement and a joint development agreement with porta hnos s.a. ( “ porta ” ) to construct multiple isobutanol plants in argentina using corn as a feedstock . ● on march 21 , 2016 , a fire occurred in the dryer portion of the agri-energy facility which is used to dry distiller 's grains which we sell as an animal co-product . the damage was limited to the dryer portion of the agri-energy facility and no persons were injured in the fire . as a result of the fire , the agri-energy facility was shut-down for approximately one week . the agri-energy facility recommenced production on monday , march 28 , 2016. the fire was not a result of the new equipment that was recently installed at the agri-energy facility . we do not expect that the recent fire at the agri-energy facility will have a material adverse effect on the company 's production of isobutanol or financial condition . ● on march 28 , 2016 , we announced that astm international committee d02 on petroleum products , liquid fuels , and lubricants and subcommittee d02.j on aviation fuel passed a concurrent ballot this week approving the revision of astm d7566 ( standard specification for aviation turbine fuel containing synthesized hydrocarbons ) to include alcohol to jet synthetic paraffinic kerosene ( atj-spk ) derived from renewable isobutanol ( the “ d02.j ballot ” ) . as previously announced , alaska airlines has indicated that it is now poised to fly the first-ever commercial test flight using gevo 's renewable alcohol to jet fuel ( atj ) . gevo is preparing the shipment of atj to alaska airlines for this first flight . alaska airlines has indicated that it will work with the federal aviation administration to schedule the flight using gevo 's atj . the d02.j ballot passed two levels of astm technical scrutiny : subcommittee and main committee ballot and is in the final stages of society review . the astm process is substantially complete as it relates to the approval of the d02.j ballot . story_separator_special_tag during the year ended december 31 , 2014 , the estimated fair value of the derivative warrant liability decreased primarily associated with the decline in the price of our common stock between december 31 , 2013 and december 31 , 2014 , resulting in the recognition of a $ 6.5 million unrealized gain for the year ended december 31 , 2014. during the year ended december 31 , 2013 , the estimated fair value of the derivative warrant liability increased primarily associated with the increase in the price of our common stock between the issuance date of the warrants and december 31 , 2013 , resulting in the recognition of a $ 3.2 million unrealized loss for the year ended december 31 , 2013. gain from change in fair value of 2017 notes . during the year ended december 31 , 2014 , we reported a $ 0.6 million gain associated with the decrease in fair value of the 2017 notes , primarily a result of a decline in the price of our common stock between december 31 , 2013 and december 31 , 2014. revenues , cost of goods sold and operating expenses revenues during 2015 and 2014 , we generated revenue primarily from : ( i ) the sale of ethanol , isobutanol and related products ; ( ii ) hydrocarbon sales consisting primarily of the sale of biojet fuel , iso-octane and bio-px derived from our isobutanol for purposes of certification and testing ; and ( iii ) government grants and research and development programs . during the year ended december 31 , 2013 , we derived revenue primarily from ( i ) hydrocarbon sales consisting primarily of the sale of biojet fuel , ( ii ) government grants and research and development programs , and ( iii ) sales of excess corn inventory . cost of goods sold and gross loss our cost of goods sold during the years ended december 31 , 2015 and 2014 primarily includes costs directly associated with ethanol production and initial operations for the production of isobutanol at the agri-energy facility such as costs for direct materials , direct labor , depreciation , other operating costs and certain plant overhead costs . direct materials include corn feedstock , denaturant and process chemicals . direct labor includes compensation of personnel directly involved in production operations at the agri-energy facility . other operating costs include utilities and natural gas usage . 60 our cost of goods sold during the year e nded december 31 , 2013 primarily includes : ( i ) costs incurred in conjunction with the initial operations for the production of isobutanol at the agri-energy facility ; ( ii ) costs associated with the sale of excess corn inventory ; and ( iii ) depreciation expe nse . our gross loss is defined as our total revenues less our cost of goods sold . research and development our research and development costs consist of expenses incurred to identify , develop and test our technologies for the production of isobutanol and the development of downstream applications thereof . research and development expenses include personnel costs ( including stock-based compensation ) , consultants and related contract research , facility costs , supplies , depreciation and amortization expense on property , plant and equipment used in product development , license fees paid to third parties for use of their intellectual property and patent rights and other overhead expenses incurred to support our research and development programs . research and development expenses also include upfront fees and milestone payments made under licensing agreements and payments for sponsored research and university research gifts to support research at academic institutions . selling , general and administrative selling , general and administrative expenses consist of personnel costs ( including stock-based compensation ) , consulting and service provider expenses ( including patent counsel-related costs ) , legal fees , marketing costs , corporate insurance costs , occupancy-related costs , depreciation and amortization expenses on property , plant and equipment not used in our product development programs or recorded in cost of goods sold , travel and relocation expenses and hiring expenses . we also record selling , general and administrative expenses for the operations of the agri-energy facility that include administrative and oversight expenses , certain personnel-related expenses , insurance and other operating expenses . story_separator_special_tag style= `` margin-bottom:0pt ; margin-top:0pt ; text-indent:0 % ; font-size:12pt ; font-family : times new roman ; font-weight : normal ; font-style : normal ; text-transform : none ; font-variant : normal ; `` > replace_table_token_7_th operating activities our primary uses of cash from operating activities are personnel-related expenses and research and development-related expenses including costs incurred under development agreements , costs for licensing of technology , legal-related costs and expenses for the production of isobutanol , ethanol and related products , logistics and further processing of ethanol and isobutanol at the agri-energy facility and for the operation of our hydrocarbon demonstration production facility . during the year ended december 31 , 2015 , we used $ 28.2 million in cash for operating activities resulting in a net loss of $ 36.2 million , excluding the impact of $ 9.0 million in non-cash expenses , and $ 1.0 million associated with a decrease in working capital primarily a result of an increase in accounts payable and decrease in accounts receivable . during the year ended december 31 , 2014 , we used $ 39.0 million in cash for operating activities resulting in a net loss of $ 41.1 million , excluding the impact of $ 5.0 million in non-cash expenses , and $ 2.9 million associated with an increase in working capital , primarily a result of a decrease in accounts payable and an increase in accounts receivable . 62 during the year ended december 31 , 2013 , we used $ 47.0 million in cash for operating activities resulting in a net loss of $ 66.8 million , excluding the impact

liquidity and capital resources since our inception in 2005 , we have devoted most of our cash resources to manufacturing , research and development and selling , general and administrative activities related to the commercialization of isobutanol , as well as related products from renewable feedstocks . we have incurred losses since inception and expect to incur losses through at least 2016. we have financed our operations primarily with proceeds from multiple sales of equity and debt securities , borrowings under debt facilities and product sales . the continued operation of our business is dependent upon raising additional capital through future public and private equity offerings , debt financings or through other alternative financing arrangements . in addition , successful completion of our research and development programs and the attainment of profitable operations are dependent upon future events , including completion of our development activities resulting in sales of isobutanol or isobutanol-derived products and or technology , achieving market acceptance and demand for our products and services and attracting and retaining qualified personnel . in december 2015 , we issued and sold 10,050,000 units of common stock shares and warrants in a firm commitment underwritten public offering . the series a units included 2,050,000 common shares and 2,050,000 series d warrants to purchase shares of our common stock ( the “ series d warrants ” ) . the shares of common stock and series d warrants were sold together as units for a purchase price of $ 1.00 per unit but were immediately separable and issued separately . the series d warrants have an exercise price of $ 1.40 per share , are exercisable from the date of original issuance and will expire on december 11 , 2020. the series b units included 8,000,000 series d warrants and 8,000,000 series e warrants to purchase shares of our common stock ( the “ series e warrants ” ) . the series d warrants and series e warrants were sold together as a unit for a purchase price of $ 0.99 per unit but were immediately separable and issued separately .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources since our inception in 2005 , we have devoted most of our cash resources to manufacturing , research and development and selling , general and administrative activities related to the commercialization of isobutanol , as well as related products from renewable feedstocks . we have incurred losses since inception and expect to incur losses through at least 2016. we have financed our operations primarily with proceeds from multiple sales of equity and debt securities , borrowings under debt facilities and product sales . the continued operation of our business is dependent upon raising additional capital through future public and private equity offerings , debt financings or through other alternative financing arrangements . in addition , successful completion of our research and development programs and the attainment of profitable operations are dependent upon future events , including completion of our development activities resulting in sales of isobutanol or isobutanol-derived products and or technology , achieving market acceptance and demand for our products and services and attracting and retaining qualified personnel . in december 2015 , we issued and sold 10,050,000 units of common stock shares and warrants in a firm commitment underwritten public offering . the series a units included 2,050,000 common shares and 2,050,000 series d warrants to purchase shares of our common stock ( the “ series d warrants ” ) . the shares of common stock and series d warrants were sold together as units for a purchase price of $ 1.00 per unit but were immediately separable and issued separately . the series d warrants have an exercise price of $ 1.40 per share , are exercisable from the date of original issuance and will expire on december 11 , 2020. the series b units included 8,000,000 series d warrants and 8,000,000 series e warrants to purchase shares of our common stock ( the “ series e warrants ” ) . the series d warrants and series e warrants were sold together as a unit for a purchase price of $ 0.99 per unit but were immediately separable and issued separately .
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 Suspicious Activity Report : we received approximately $ 6.6 million in gross proceeds from this offering , not including any future proceeds from the exercise of the warrants . ● in april 2015 , we completed a 1-for-15 reverse stock split that was previously approved by our stockholders at a special meeting held on april 13 , 2015. the reverse stock split was intended to increase the market price per share of our common stock to allow us to maintain the listing of our common stock on the nasdaq capital market . ● in may 2015 , we completed the sale of 4,300,000 common stock units and warrants . we received approximately $ 17.2 million in gross proceeds from the offering , not including any future proceeds from the exercise of the warrants . ● in june 2015 , we entered into an agreement with fcstone merchant services , llc to originate and supply corn for the our production facility in luverne , minnesota ( the “ agri-energy facility ” ) . engaging fcstone to conduct our corn purchasing at luverne is expected to free up more than $ 1 million of working capital , which had previously been tied up in corn inventory . ● in august 2015 , we announced that we entered into worldwide patent cross-license and settlement agreements with butamax advanced biofuels llc ( “ butamax ” ) , e.i . du pont de nemours & company ( “ dupont ” ) and bp biofuels north america llc ( “ bp ” and , together with butamax and dupont , the “ butamax parties ” ) , ending a patent dispute related to technologies for the production of bio-based isobutanol . the settlement ends all of the lawsuits and creates a new relationship between the companies , aimed at leveraging each other 's strengths and accelerating development of 54 competitive supply for bio-based isobutanol . for m ore information regarding the settlement agreement and the cross-license agreement , see item 1 “ business— butamax advanced biofuels llc and item 3 legal proceedings ” . ● in november 2015 , we entered into a license agreement and a joint development agreement with praj industries limited ( `` praj `` ) to enable the licensing of our isobutanol technology to processors of non-corn based sugars , including the majority of praj 's global customer base of ethanol plant owners . ● in december 2015 , we completed the sale of 2,050,000 series a units and 8,000,000 series b units . we received gross proceeds of approximately $ 10 million , not including any future proceeds from the exercise of the warrants . subsequent events ● on january 26 , 2016 , we filed a current report on form 8-k , stating that it had received a letter from the staff of the nasdaq stock market llc ( “ nasdaq ” ) providing notification that , for the previous 30 consecutive business days , the bid price for the company 's common stock had closed below the minimum $ 1.00 per share requirement for continued listing on the nasdaq capital market under nasdaq listing rule 5550 ( a ) ( 2 ) . in accordance with nasdaq listing rule 5810 ( c ) ( 3 ) ( a ) , we have been provided an initial period of 180 calendar days , or until july 25 , 2016 , to regain compliance . we intend to monitor the bid price of our common stock and our minimum market value of listed securities and will consider options available to us to achieve compliance . ● in february 2016 , we announced that we had entered into a license agreement and a joint development agreement with porta hnos s.a. ( “ porta ” ) to construct multiple isobutanol plants in argentina using corn as a feedstock . ● on march 21 , 2016 , a fire occurred in the dryer portion of the agri-energy facility which is used to dry distiller 's grains which we sell as an animal co-product . the damage was limited to the dryer portion of the agri-energy facility and no persons were injured in the fire . as a result of the fire , the agri-energy facility was shut-down for approximately one week . the agri-energy facility recommenced production on monday , march 28 , 2016. the fire was not a result of the new equipment that was recently installed at the agri-energy facility . we do not expect that the recent fire at the agri-energy facility will have a material adverse effect on the company 's production of isobutanol or financial condition . ● on march 28 , 2016 , we announced that astm international committee d02 on petroleum products , liquid fuels , and lubricants and subcommittee d02.j on aviation fuel passed a concurrent ballot this week approving the revision of astm d7566 ( standard specification for aviation turbine fuel containing synthesized hydrocarbons ) to include alcohol to jet synthetic paraffinic kerosene ( atj-spk ) derived from renewable isobutanol ( the “ d02.j ballot ” ) . as previously announced , alaska airlines has indicated that it is now poised to fly the first-ever commercial test flight using gevo 's renewable alcohol to jet fuel ( atj ) . gevo is preparing the shipment of atj to alaska airlines for this first flight . alaska airlines has indicated that it will work with the federal aviation administration to schedule the flight using gevo 's atj . the d02.j ballot passed two levels of astm technical scrutiny : subcommittee and main committee ballot and is in the final stages of society review . the astm process is substantially complete as it relates to the approval of the d02.j ballot . story_separator_special_tag during the year ended december 31 , 2014 , the estimated fair value of the derivative warrant liability decreased primarily associated with the decline in the price of our common stock between december 31 , 2013 and december 31 , 2014 , resulting in the recognition of a $ 6.5 million unrealized gain for the year ended december 31 , 2014. during the year ended december 31 , 2013 , the estimated fair value of the derivative warrant liability increased primarily associated with the increase in the price of our common stock between the issuance date of the warrants and december 31 , 2013 , resulting in the recognition of a $ 3.2 million unrealized loss for the year ended december 31 , 2013. gain from change in fair value of 2017 notes . during the year ended december 31 , 2014 , we reported a $ 0.6 million gain associated with the decrease in fair value of the 2017 notes , primarily a result of a decline in the price of our common stock between december 31 , 2013 and december 31 , 2014. revenues , cost of goods sold and operating expenses revenues during 2015 and 2014 , we generated revenue primarily from : ( i ) the sale of ethanol , isobutanol and related products ; ( ii ) hydrocarbon sales consisting primarily of the sale of biojet fuel , iso-octane and bio-px derived from our isobutanol for purposes of certification and testing ; and ( iii ) government grants and research and development programs . during the year ended december 31 , 2013 , we derived revenue primarily from ( i ) hydrocarbon sales consisting primarily of the sale of biojet fuel , ( ii ) government grants and research and development programs , and ( iii ) sales of excess corn inventory . cost of goods sold and gross loss our cost of goods sold during the years ended december 31 , 2015 and 2014 primarily includes costs directly associated with ethanol production and initial operations for the production of isobutanol at the agri-energy facility such as costs for direct materials , direct labor , depreciation , other operating costs and certain plant overhead costs . direct materials include corn feedstock , denaturant and process chemicals . direct labor includes compensation of personnel directly involved in production operations at the agri-energy facility . other operating costs include utilities and natural gas usage . 60 our cost of goods sold during the year e nded december 31 , 2013 primarily includes : ( i ) costs incurred in conjunction with the initial operations for the production of isobutanol at the agri-energy facility ; ( ii ) costs associated with the sale of excess corn inventory ; and ( iii ) depreciation expe nse . our gross loss is defined as our total revenues less our cost of goods sold . research and development our research and development costs consist of expenses incurred to identify , develop and test our technologies for the production of isobutanol and the development of downstream applications thereof . research and development expenses include personnel costs ( including stock-based compensation ) , consultants and related contract research , facility costs , supplies , depreciation and amortization expense on property , plant and equipment used in product development , license fees paid to third parties for use of their intellectual property and patent rights and other overhead expenses incurred to support our research and development programs . research and development expenses also include upfront fees and milestone payments made under licensing agreements and payments for sponsored research and university research gifts to support research at academic institutions . selling , general and administrative selling , general and administrative expenses consist of personnel costs ( including stock-based compensation ) , consulting and service provider expenses ( including patent counsel-related costs ) , legal fees , marketing costs , corporate insurance costs , occupancy-related costs , depreciation and amortization expenses on property , plant and equipment not used in our product development programs or recorded in cost of goods sold , travel and relocation expenses and hiring expenses . we also record selling , general and administrative expenses for the operations of the agri-energy facility that include administrative and oversight expenses , certain personnel-related expenses , insurance and other operating expenses . story_separator_special_tag style= `` margin-bottom:0pt ; margin-top:0pt ; text-indent:0 % ; font-size:12pt ; font-family : times new roman ; font-weight : normal ; font-style : normal ; text-transform : none ; font-variant : normal ; `` > replace_table_token_7_th operating activities our primary uses of cash from operating activities are personnel-related expenses and research and development-related expenses including costs incurred under development agreements , costs for licensing of technology , legal-related costs and expenses for the production of isobutanol , ethanol and related products , logistics and further processing of ethanol and isobutanol at the agri-energy facility and for the operation of our hydrocarbon demonstration production facility . during the year ended december 31 , 2015 , we used $ 28.2 million in cash for operating activities resulting in a net loss of $ 36.2 million , excluding the impact of $ 9.0 million in non-cash expenses , and $ 1.0 million associated with a decrease in working capital primarily a result of an increase in accounts payable and decrease in accounts receivable . during the year ended december 31 , 2014 , we used $ 39.0 million in cash for operating activities resulting in a net loss of $ 41.1 million , excluding the impact of $ 5.0 million in non-cash expenses , and $ 2.9 million associated with an increase in working capital , primarily a result of a decrease in accounts payable and an increase in accounts receivable . 62 during the year ended december 31 , 2013 , we used $ 47.0 million in cash for operating activities resulting in a net loss of $ 66.8 million , excluding the impact

