Revenue Recognition . We derive revenue primarily from sales of ethanol and related co-products in North America, and biodiesel and refined glycerin in India pursuant to supply agreements and purchase order contracts. We assessed the following criteria under the ASC 606 guidance: (i) identify the contracts with customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations, and (v) recognize revenue when the entity satisfies the performance obligations. North America: In North America, we sell the majority of our production to one customer, J.D. Heiskell &amp; Co. (J.D. Heiskell), under a supply contract, with individual sales transactions occurring under this contract. Given the similarity of these transactions, we have assessed them as a portfolio of similar contracts. The performance obligation is satisfied by delivery of the physical product to the tank of J.D. Heiskell or to one of their contracted trucking companies. At this point in time, the customer has the ability to direct the use of the product and receive substantially all of its benefits. The transaction price is determined based on daily market prices negotiated by Kinergy Marketing (Kinergy) for ethanol and by A.L. Gilbert Company (A.L. Gilbert) on WDG and DCO. There is no transaction price allocation needed. During the first quarter of 2020, certain Tobacco and Alcohol Tax and Trade Bureau (TTB) prohibitions were lifted, allowing for the sale of high proof alcohol by ethanol producers. Accordingly, during the last week of March 2020, Aemetis obtained the necessary permits and began selling high proof alcohol for industrial and commercial applications directly to customers in the West Coast on prepayment terms. The agreements and terms were evaluated according to ASC 606 guidance and revenue was recognized upon satisfaction of the performance obligation by delivery of the product based on the terms of the agreement. Sales of high proof alcohol represented less than 3% of quarterly revenue, and as such aggregated with ethanol sales. The below table shows our sales in North America by product category: North America (in thousands) For the three months ended March 31, 2020 2019 Ethanol sales $ 25,322 $ 27,189 Wet distillers' grains sales 8,374 8,603 Other sales 2,176 844 $ 35,872 $ 36,636 We have elected to adopt the practical expedient that allows for ignoring the significant financing component of a contract when estimating the transaction price when the transfer of promised goods to the customer and customer payment for such goods are expected to be within one year of contract inception. Further, we have elected to adopt the practical expedient in which incremental costs of obtaining a contract are expensed when the amortization period would otherwise be less than one year. We also assessed principal versus agent criteria as we buy our feedstock from our customers and process and sell finished goods to those customers in certain contractual agreements. In North America, we assessed principal versus agent criteria as we buy corn as feedstock in producing ethanol from our working capital partner J.D. Heiskell and sell all ethanol, WDG, and corn oil produced in this process to J.D. Heiskell. Our finished goods tank is leased by J.D. Heiskell and they require us to transfer legal title to the product upon transfer of our finished ethanol to this location. We consider the purchase of corn as a cost of goods sold and the sale of ethanol upon transfer to the finished goods tank as revenue on the basis that (i) we control and bear the risk of gain or loss on the processing of corn which is purchased at market prices into ethanol and (ii) we have legal title to the goods during the processing time. The pricing for both corn and ethanol is set independently. Revenues from sales of ethanol and its co-products are billed net of the related transportation and marketing charges. Transportation charges are accounted for in cost of goods sold and marketing charges are accounted for in sales, general and administrative expense. Transportation and marketing charges are known within days of the transaction and are recorded at the actual amounts. The Company has elected to adopt an accounting policy under which these charges have been treated as fulfillment activities provided after control has transferred. As a result, these charges are recognized in cost of goods sold and selling, general and administrative expenses, respectively, when revenue is recognized. Revenues are recorded at the gross invoiced amount. Hence, we are the principal in North America sales scenarios where our customer and vendor may be the same. We have a contract liability of $0.3 million as of March 31, 2020, in connection with a contract with a customer to sell LCFS credits. However, the control of the LCFS credits was not transferred to the customer until April 2, 2020 while we received cash in advance. We have a contract liability of $1.9 million as of March 31, 2020, in connection with shipments to several customers for which we received cash in advance while shipments were fulfilled in April 2020. India: In India, we sell products pursuant to purchase orders (written or verbal) or by contract with governmental or international parties, in which performance is satisfied by delivery and acceptance of the physical product. Given that the contracts are sufficiently similar in nature, we have assessed these contracts as a portfolio of similar contracts as allowed under the practical expedient. Doing so does not result in a materially different outcome compared to individually accounting for each contract. All domestic and international deliveries are subject to certain specifications as identified in contracts. The transaction price is determined daily based on reference market prices for biodiesel, refined glycerin, and Palm Fatty Acid Distillers (PFAD) net of taxes. There is no transaction price allocation needed. The below table shows our sales in India by product category: India (in thousands) For the three months ended March 31, 2020 2019 Biodiesel sales $ 2,793 $ 4,347 Refined Glycerin sales 90 899 PFAD sales 712 - Other sales 13 6 $ 3,608 $ 5,252 In India, we also assessed principal versus agent criteria as we buy our feedstock from our customers and process and sell finished goods to those same customers in certain contractual agreements. In those cases, we receive the legal title to feedstock from our customers once it is on our premises. We control the processing and production of biodiesel based on contract terms and specifications. The pricing for both feedstock and biodiesel is set independently. We hold the title and risk to biodiesel according to agreements we enter into in these situations. Hence, we are the principal in India sales scenarios where our customer and vendor may be the same.