XML 17 R6.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows From Operating Activities:    
Net income (loss) $ 1,653 $ (583,165)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:    
Depreciation and amortization 442,408 449,648
Accretion of asset retirement obligation 1,732 4,386
Common stock payable for directors fees 56,250 61,733
Gain on settlement of Hillgrove advance (113,422) 0
Gain on forgiveness of Cares Act debt (443,400) 0
Write-down of inventory to net realizable value 66,054 0
Other non-cash items 0 (48)
Change in:    
Accounts receivable (362,681) 50,817
Inventories 17,448 39,890
IVA receivable and other assets (15,402) (43,952)
Accounts payable (519,570) (256,368)
Accrued liabilities (92,927) (23,668)
Export tax assessment payable (1,120,730) 0
Payables to related parties (154,022) 21,405
Net cash (used) by operating activities (2,236,609) (279,322)
Cash Flows From Investing Activities:    
Proceeds from redemption of certificates of deposit 210,184 0
Purchase of properties, plants and equipment (115,127) (200,166)
Net cash provided (used) by investing activities 95,057 (200,166)
Cash Flows From Financing Activities:    
Change in checks issued and payable (86,685) 142,530
Payments on advances from related party (56,416) (46,160)
Proceeds from note payable-SBA 0 443,400
Proceeds from issuance of common stock, net of issuance costs 23,342,180 0
Proceeds from exercise of warrants 1,790,703 0
Payments on Hillgrove advances payable (1,020,799) 0
Borrowing on notes payable to bank 0 (31,135)
Principal paid on notes payable to bank (100,000) (21,238)
Principal payments of long-term debt (27,926) 0
Net cash provided by financing activities 23,841,057 487,397
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH 21,699,505 7,909
Cash and cash equivalents and restricted cash at beginning of period 722,377 172,767
Cash and cash equivalents and restricted cash at end of period 22,421,882 180,676
NONCASH INVESTING AND FINANCING ACTIVITIES:    
Common stock payable issued to directors 0 130,483
Payable to related party satisfied with exercise of stock $ 0 $ 62,500