XML 25 R6.htm IDEA: XBRL DOCUMENT v3.25.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash Flows from Operating activities:    
Net loss $ (39,338,806) $ (38,724,963)
Adjustments to reconcile net loss to net cash    
Stock-based compensation expense 3,725,484 3,766,629
Depreciation expense 2,185,332 2,323,431
Amortization of mining rights 1,235,932 1,222,686
Accretion expense 991,520 1,015,563
Amortization of finance right-to-use assets - related party 378,888 0
Amortization of issuance costs and debt discount 112,143 59,271
Investment in other entities - Related Parties, net 409,268 562,696
Gain on sale of equipment (400,000) (1,529,408)
Issuance of common shares for services 143,575 100,000
Allowance for losses on due from related party 190,000 0
Allowance for losses on note receivable 99,022 0
Unrealized gain on short-term investments 45,514 (7,472)
Change in current assets and liabilities:    
Interest receivable (85,991) 0
Receivables (6,675) 660,756
Due from related party (530,000) (352,243)
Inventories (829,998) 316,699
Prepaid expenses and other current assets 583,825 (942,557)
Trade and non-trade payable 894,571 (3,118,438)
Accounts payable related party 6,052,168 233,428
Accrued expenses 295,132 311,809
Accrued litigation settlement 240,658 14,103,270
Accrued interest 1,691,551 377,306
Other current liabilities 0 100,000
Accrued interest on finance lease liability - related party 295,499 0
Operating lease assets and liabilities, net 4,755 2,756
Operating lease assets and liabilities, net - related party 373,420 0
Cash used in operating activities (21,243,213) (19,518,781)
Cash Flows from Investing activities:    
Purchase of property and equipment, net of capitalized interest income and (expense) (1,059,062) (3,616,866)
Proceeds from sale of equipment 400,000 1,529,408
Proceeds from short-term investments, net 715,038 641,617
Restricted investments purchased (151,253,539) (30,297,202)
Restricted investments sold 25,797,202 0
Cash used in investing activities (125,400,361) (31,743,043)
Cash Flows from Financing activities:    
Proceeds from tax exempt bonds, net 149,719,203 43,475,888
Proceeds from convertible promissory note 500,250 0
Proceeds from convertible promissory note - related party 142,471 0
Proceeds from the exercise of stock option 156,900 0
Proceeds received from other financing obligation 2,493,819 7,733,231
Cash received from warrant conversions 32,339 0
Proceeds from current portion of long-term debt 0 1,381,250
Repayment on current portion of long-term debt 0 (1,158,428)
Repayments of other financing obligation (7,365,639) (6,083,386)
Cash provided by financing activities 145,679,343 45,348,555
Decrease in cash (964,231) (5,913,269)
Cash and cash equivalents, including restricted cash, beginning of period 5,077,560 10,990,829
Cash and cash equivalents, including restricted cash, end of period 4,113,329 5,077,560
SUPPLEMENTAL CASH FLOW INFORMATION    
Non- cash proceeds from related party convertible notes 1,468,984 486,556
Dividend-in-kind of Novustera, Inc. common stock to shareholders 1,361,788 0
Acquisition of assets through operating leases - related party 1,897,736 0
Acquisition of assets through finance lease - related party 19,786,394  
Conversion of convertible debt into common stock $ 0 $ 9,787,423