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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss $ (9,154,632) $ (6,576,038)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 5,062 1,376
Stock-based compensation expense (127,766) 406,488
Noncash lease expense 32,251 37,021
Unrealized gain on investment (20,770) 0
Loss on equity investments in unconsolidated affiliates 3,389,503 0
Changes in operating assets and liabilities:    
Other assets 919,363 (105,661)
Operating lease liabilities (29,945) (37,113)
Accounts payable (539,596) 1,222,404
Accrued expenses and other current liabilities (3,322,479) 1,834,550
Net cash used in operating activities (8,849,009) (3,216,973)
Cash flows from investing activities:    
Capital expenditures (5,619,034) (5,090,488)
Advances on the Ewoyaa Project (3,632,483) 0
Purchase of equity investments in unconsolidated affiliates (2,046,207) (9,316,394)
Net cash used in investing activities (11,297,724) (14,406,882)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 122,059,476 114,087,891
Proceeds from exercise of stock options 0 30,452
Principal payments on long-term debt (247,234) (182,973)
Net cash provided by financing activities 121,812,242 113,935,370
Net increase in cash 101,665,509 96,311,515
Cash and cash equivalents at beginning of period 64,244,983 70,936,994
Cash and cash equivalents at end of period 165,910,492 167,248,509
Supplemental disclosure of cash flow information:    
Noncash capital expenditures in accounts payable and accrued expenses 2,421,433 0
Cash paid for interest 42,397 68,838
Capitalized stock-based compensation $ 41,858 $ 0