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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
OPERATING ACTIVITIES:    
Net income (loss) $ (4,527,690) $ (8,262,325)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation, amortization and depletion 5,789,517 5,058,532
Stock payments and stock-based compensation 152,431 1,705,160
Accretion of reclamation liability 192,880 257,915
(Gain) loss on sale of properties, plant, and equipment 77,579 45,499
Amortization of debt discounts and issuance costs 464,391 474,297
Net change in fair values of derivatives (5,451) 635,355
Changes in operating assets and liabilities:    
Accounts receivable 322,406 436
Inventories 119,242 (196,766)
Stockpiles and mineralized material on leach pads 1,037,984 (183,350)
Prepaid expenses (654,724) (116,132)
Other assets 19,411 19,411
Accounts payable (650,075) (441,281)
Accrued expenses and other liabilities (1,909,098) (1,591,031)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 428,803 (2,594,280)
INVESTING ACTIVITIES:    
Proceeds from sale of properties, plant and equipment 117,065 150,415
Purchase of mineral rights and properties, plant and equipment (4,861,914) (1,856,628)
Increase in reclamation bond deposit (100,000) (750,000)
NET CASH USED IN INVESTING ACTIVITIES (4,844,849) (2,456,213)
FINANCING ACTIVITIES:    
Principal payments on long-term debt and capital lease obligations (7,828,660) (3,684,252)
Proceeds from long-term debt obligations 9,419,392 4,626,289
Proceeds from the issuance of common stock 0 10,993,283
Common stock issuance costs 0 (32,019)
NET CASH PROVIDED BY FINANCING ACTIVITIES 1,590,732 11,903,301
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (2,825,314) 6,852,808
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 5,308,804 2,409,446
CASH AND CASH EQUIVALENTS, END OF PERIOD 2,483,490 9,262,254
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 995,292 567,824
Supplemental disclosure of non-cash investing and financing activities:    
Conversion of convertible preferred stock to common stock (par value) 35,723 1
Reclamation bond deposit included in accrued expenses and other liabilities 0 150,000
Additions to reclamation liability and retirement obligation asset 659,295 0
Issuance of common stock for properties, plant and equipment 966,819 814,956
Dividends paid in common stock (par value) 7,887 1,502
Issuance of long-term debt obligations for purchase of mineral rights and properties, plant and equipment 2,046,745 3,006,094
Vested restricted common stock (par value) 40 1,183
Properties, plant and equipment purchases in accounts payable $ 24,268 $ 135,020