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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (6,348,287) $ 428,661
Adjustments to reconcile net income (loss) to net cash used by operating activities:    
Depreciation and amortization 959,445 909,220
Accretion of asset retirement obligation 13,471 17,766
Changes in asset retirement obligation estimates 324,984 0
Stock payable to directors (22,917) 61,459
Loss on disposal of property, plant & equipment 217,921 0
Write down of inventory to net realizable value 2,073,404 277,146
Allowance for doubtful accounts on accounts receivable 239,772 59,350
Reserve on IVA receivable 687,534 0
Change in fair value of investments 0 59,246
Other non-cash items (7,500) (647)
Change in:    
Accounts receivable, net (80,571) 47,507
Inventories, net (2,084,445) (596,794)
Prepaid expenses and other current assets 45,230 (137,599)
IVA receivable and other assets, net (299,092) (654,958)
Accounts payable (171,868) (756,949)
Accrued liabilities (67,308) (72,636)
Accrued liabilities - directors 51,847 21,118
Royalties payable (281,646) 88,833
Net cash used by operating activities (4,750,026) (249,277)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from redemption of certificates of deposit 186,959 0
Purchase of investments 0 (16,184,893)
Proceeds from sale of investments 0 16,125,647
Purchases of properties, plants and equipment (1,528,672) (1,726,415)
Net cash used by investing activities (1,341,713) (1,785,661)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments on Dividends Payable (787,730) 0
Principal payments on long-term debt (283,562) (64,745)
Repurchase of common stock 0 (202,980)
Net cash used by financing activities (1,071,292) (267,725)
NET DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (7,163,031) (2,302,663)
|CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF YEAR 19,117,666 21,420,329
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF YEAR 11,954,635 19,117,666
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest paid in cash 10,521 15,141
NON-CASH FINANCING AND INVESTING ACTIVITIES:    
Equipment purchased with note payable 0 161,600
Issuance of common stock for directors 0 62,501
Preferred Series D dividends payable declared $ 0 787,730
Common stock buyback and retirement 202,980  
Conversion of Preferred Series D to Common Stock $ 16,926 $ 0