EQUITY INVESTMENTS IN UNCONSOLIDATED AFFILIATES (Tables)

3 Months Ended

Mar. 31, 2022

Equity Method Investments and Joint Ventures [Abstract]

The following table summarizes the carrying amounts, including changes therein, of our equity method investments:


	Three Months Ended March 31, 2022
	Sayona		Sayona Quebec		Atlantic Lithium		Total
Balance at December 31, 2021	$	18,256,488	$	25,215,851	$	15,400,371	$	58,872,710
Additional investments	46,304		1,999,903		—		2,046,207
Loss from equity method investments	(1,421,471)		(1,066,637)		(901,395)		(3,389,503)
Share of income from equity method investments included in other comprehensive income (loss)	64,515		44,760		84,369		193,644
Balance at March 31, 2022	$	16,945,836	$	26,193,877	$	14,583,345	$	57,723,058
Fair value of equity investments where market values from publicly traded entities are readily available	$	221,488,733	Not publicly traded		$	38,678,400

During the three months ended March 31, 2021, we made an investment in Sayona of $9.3 million, including transaction costs. We had no income or loss from Sayona recorded for the three months ended March 31, 2021.

The following tables present summarized financial information for our significant equity investments compiled from information provided to us by the investee and presented in accordance with U.S. GAAP.

Summarized financial information for the three months ended and as of March 31, 2022:


	Sayona		Sayona Quebec		Atlantic Lithium
Summarized statement of operations information:
Revenue	$	—	$	—	$	—
Net loss from operations	(8,588,384)		(4,266,667)		(9,095,808)
Other comprehensive income (loss), net of tax	390,967		179,041		851,351
Comprehensive loss	(8,197,417)		(4,087,626)		(8,244,457)