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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (2,787,977) $ 1,190,273
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:    
Depreciation and amortization 714,302 693,990
Accretion of asset retirement obligation 10,103 14,589
Write down of inventory to net realizable value 883,390 409,919
Provision for losses on receivables 43,560 0
Change in fair value of investments 0 119,298
Changes in operating assets and liabilities:    
Accounts receivable, net (649,540) (559,000)
Inventories (1,384,877) (182,457)
Prepaid expenses and other current assets (99,367) (187,937)
IVA receivable and other assets (409,414) (605,047)
Accounts payable (22,503) (923,490)
Accrued liabilities 11,497 530
Accrued liabilities - directors 200,077 52,248
Royalties payable (327,138) 0
Net cash provided (used) by operating activities (3,817,887) 22,916
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of investments 0 (13,500,000)
Proceeds from sales of investments 0 407,149
Purchase of properties, plants and equipment (1,519,720) (592,221)
Net cash used by investing activities (1,519,720) (13,685,072)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal payments of long-term debt (70,049) (42,080)
Dividends paid 787,730 0
Net cash used by financing activities (857,779) (42,080)
NET DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (6,195,386) (13,704,236)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 19,117,666 21,420,329
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 12,922,280 7,716,093
NON-CASH FINANCING AND INVESTING ACTIVITIES:    
Common stock retirement 202,980  
Conversion of Preferred Series D to Common Stock $ 16,927 0
Equipment purchased with note payable 0 161,600
Issuance of common stock for directors fees $ 0 $ 62,501