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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:        
Net loss $ 16,664,881 $ (10,861,359) $ (2,071,054) $ (25,070,369)
Adjustments to reconcile net loss to net cash used in operating activities:        
Stock-based compensation expense     2,643,433 1,851,805
Loss from equity method investments in unconsolidated affiliates 2,002,617 410,538 6,547,499 475,164
Gain on dilution of equity method investments in unconsolidated affiliates (29,367,281) 0 (29,367,281) 0
Deferred taxes     3,422,219 0
Depreciation 21,267 3,733 32,475 6,485
Noncash lease expense     72,253 113,914
Loss on sale of property, plant and mine development     11,542 0
Unrealized loss on investment     51,969 0
Changes in operating assets and liabilities:        
Other assets     (959,175) (2,374,222)
Operating lease liabilities     (68,819) (115,551)
Accounts payable     270,493 576,344
Accrued expenses and other current liabilities     (2,627,020) 2,547,983
Net cash used in operating activities     (22,041,466) (21,988,447)
Cash flows from investing activities:        
Capital expenditures     (21,891,950) (22,352,553)
Advances on Ewoyaa Lithium project (Ghana)     (9,815,418) 0
Purchases of equity investments in unconsolidated affiliates (4,032,068) (42,582,106) (14,086,972) (58,940,518)
Net cash used in investing activities     (45,794,340) (81,293,071)
Cash flows from financing activities:        
Proceeds from issuances of common stock, net of issuance costs     122,059,476 114,087,891
Proceeds from exercise of stock options     93,326 773,251
Principal payments on long-term debt     (973,064) (563,466)
Net cash provided by financing activities     121,179,738 114,297,676
Net increase in cash     53,343,932 11,016,158
Cash and cash equivalents at beginning of period     64,244,983 70,936,994
Cash and cash equivalents at end of period 117,588,915 81,953,152 117,588,915 81,953,152
Supplemental disclosure of cash flow information:        
Noncash capital expenditures in accounts payable and accrued expenses     2,226,692 0
Cash paid for interest     97,250 191,966
Capitalized stock-based compensation $ 89,975 $ 0 212,393 0
Noncash acquisitions of mining interests financed by sellers     $ 0 $ 241,002