Year Ended December 31,

2022

2021

Interest paid in cash

$

14,797

$

10,248

Income taxes paid in cash

$

211,000

$

160,000

Non-cash transactions:

Issuance of 9,295 and 8,632, respectively, shares of redeemable preferred stock for services rendered

$

133,197

$

102,203

Issuance of 72,597 and 88,488, respectively, shares of common stock for services rendered

$

521,016

$

745,468

Conversion (on a one-to-one basis) of 6,585 and 11,522, respectively, shares of redeemable preferred stock to common stock

$

3,951

$

6,913

Dividends declared but not paid

$

1,305,367

$

1,298,148

Transfers from inventory to property, plant and equipment and construction in progress

$

346,024

$

189,924

Transfers from construction in progress to property, plant and equipment

$

297,723

$

644,224

Right-of-use assets obtained in exchange for new operating lease liabilities

$

—

$

1,852,608

Purchase of equipment through issuance of long-term debt

$

188,645

$

95,707