XML 16 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Net cash provided by operating activities $ 5,388,005 $ 13,529,071
Cash flows from investing activities    
Additions to property, plant and equipment and construction in progress (13,709,598) (3,016,713)
Proceeds from sale of equipment 51,590 18,827
Collections on loans receivable 1,041,787 1,297,419
Payment for land and rights of way held for development (2,168,180) (665,270)
Net cash used in investing activities (14,784,401) (2,365,737)
Cash flows from financing activities    
Dividends paid to common shareholders (3,818,499) (3,346,477)
Dividends paid to non-controlling interests 0 0
Dividends paid to preferred shareholders (2,846) (8,665)
Issuance (repurchase) of redeemable preferred stock 10,258 12,456
Proceeds received from exercise of stock options 0 0
Repayment of note payable to related party (392,000) (490,000)
Issuance of note payable to related party 784,000 392,000
Net cash used in financing activities (3,419,087) (3,440,686)
Net increase (decrease) in cash and cash equivalents (12,815,483) 7,722,648
Cash and cash equivalents at beginning of period 47,182,966 39,254,116
Cash and cash equivalents at end of period 34,367,483 46,976,764
Interest paid in cash 6,539 7,062
Non-cash investing and financing activities    
Conversion (on a one-to-one basis) of 5,426 and 12,214, respectively, shares of redeemable preferred stock to common stock 3,256 7,328
Dividends declared but not paid 1,275,066 1,120,176
Transfers from inventory to property, plant and equipment and construction in progress 304,279 228,549
Transfers from construction in progress to property, plant and equipment 492,252 2,109,960
Transfers from other assets to construction in progress 1,253,299 0
Common Stock [Member]    
Non-cash investing and financing activities    
Stock Issued 441,161 203,551
Preferred Stock [Member]    
Non-cash investing and financing activities    
Stock Issued $ 96,317 $ 118,485