General and administrative (G&A) expenses for the second quarter of 2012 were $13.7 million, an increase of $5.7 million from the first quarter of 2012, primarily due to Columbus labor force salary, training and related pre-startup expenses, and $1.3 million higher non-cash stock-based compensation. Year-over-year expenses increased $6.6 million from the second quarter of 2011, mainly driven by higher Columbus related expenses, and $1.0 million higher non-cash stock-based compensation expense, partially offset by lower consulting expenses.
Depreciation and amortization expenses for the second quarter of 2012 were $0.7 million, in line with depreciation and amortization expenses recorded in the first quarter of 2012 and $0.1 million higher than the second quarter of 2011.
Capital investment during the second quarter was $28.4 million, substantially all of which was related to KiOR's initial-scale commercial production facility in Columbus.
KiOR had cash and cash equivalents of $107.0 million at June 30, 2012, which represents a $24.6 million decrease from the December 31, 2011 balance. This decrease was primarily driven by capital expenditures, operating uses of cash, and paying off previous business loans, partially offset by funding from the $75.0 million 4-year-term loan announced early this year. Net long-term debt stood at $113.3 million as of quarter-end.Conference Call Information The Company will discuss these results on a conference call scheduled for today at 10:00 a.m. Eastern Time (9:00 a.m. Central Time). Participants may join the call by dialing (877) 468-8808 (for U.S. and Canada), or (832) 412-2302 (International). The conference code for all participants is 14683094. To listen via live webcast, please visit the investor relations section of the Company's website: http://investor.kior.com/events.cfm . An audio replay of the conference call will be available approximately two hours after the conclusion of the call and remain available until Tuesday, August 21, 2012 at 11:59 p.m. Eastern Time (10:59 p.m. Central Time) and can be accessed by dialing (855) 859-2056 (for U.S. and Canada) or (404) 537-3406 (International). The conference call replay access code is 14683094 for all participants. A replay of the webcast will also be available in the investor relations section of the Company's website approximately two hours after the conclusion of the call and remain available for approximately 90 calendar days. About KiOR KiOR is a development stage, next-generation renewable fuels company that has developed a unique two-step proprietary technology platform to convert abundant and sustainable non-food biomass into cellulosic gasoline, diesel and fuel oil. KiOR's cellulosic fuels may be transported using existing distribution networks and are suitable for use in vehicles on the road today. KiOR strives to help ease dependence on foreign oil, reduce lifecycle greenhouse gas emissions and create high-quality jobs and economic benefit across rural communities.