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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities:    
Net income $ 1,773,913 $ 551,493
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 745,949 689,585
Stock-based compensation expense 104,927 103,130
Stock-based employee match contribution 156,710 90,407
Loss from equity investment 239,522 637,704
Changes in operating assets and liabilities:    
Accounts receivable (237,486) (90,880)
TIF receivable (165,266) (150,123)
Inventory and prepaid expenses (70,963) (291,132)
Income taxes receivable/payable (212,228) 474,706
Accounts payable 237,324 (1,084,383)
Deferred revenue 212,386 47,288
Card Casino accruals (201,651) 561,291
Accrued wages and payroll taxes 5,249 996,379
Accrued property taxes 202,168 193,318
Payable to horsepersons 146,264 (1,035,350)
Net cash provided by operating activities 2,936,818 1,693,433
Investing Activities:    
Additions to land, buildings, and equipment (778,041) (129,251)
Additions for TIF eligible improvements 0 (2,464)
Equity investment contributions (340,026) 0
(Increase) decrease in related party receivable (5,554) 77,327
Net cash used in investing activities (1,123,621) (54,388)
Financing Activities:    
Proceeds from issuance of common stock 0 48,598
Cash dividend paid to shareholders (336,198) (494)
Payments for taxes related to net share settlement of equity awards (211,859) (25,948)
Principal payments on finance lease (6,641) (6,318)
Net cash (used in) provided by financing activities (554,698) 15,838
Net increase in cash, cash equivalents, and restricted cash 1,258,499 1,654,883
Cash, cash equivalents, and restricted cash at beginning of period 15,598,753 4,471,712
Cash, cash equivalents, and restricted cash at end of period 16,857,252 6,126,595
Schedule of non-cash investing and financing activities    
Additions to land, buildings, and equipment funded through accounts payable 119,000 68,000
Dividend declared but not yet paid 340,000 0
Transfer of future TIF reimbursed costs from land, buildings, and equipment 0 2,000
Change in investee losses in excess of equity investments 515,000 647,000
Supplemental disclosure of cash flow information:    
Income taxes paid, net of refunds 818,000 100,000
Interest paid $ 1,000 $ 1,000