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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Net cash provided by operating activities - continuing operations $ 9,245,264 $ 16,926,429
Net cash used in operating activities - discontinued operations (849,639) (1,123,193)
Net cash provided by operating activities 8,395,625 15,803,236
Cash flows from investing activities    
Purchase of certificate of deposit   (2,518,493)
Maturity of certificate(s) of deposit   5,018,493
Additions to property, plant and equipment and construction in progress (4,123,770) (2,947,937)
Proceeds from asset dispositions 21,410 31,181
Purchase of non-controlling interest in PERC (2,440,027)  
Net cash used in investing activities (6,542,387) (416,756)
Cash flows from financing activities    
Dividends paid to common shareholders (3,977,676) (3,841,842)
Dividends paid to preferred shareholders (9,933) (8,154)
Dividends paid to non-controlling interests   (1,102,475)
Buyback of redeemable preferred stock (1,830)  
Proceeds received from exercise of stock options 99,764 26,739
Principal repayments on long-term debt (82,347) (51,564)
Net cash used in financing activities (3,972,022) (4,977,296)
Net increase (decrease) in cash and cash equivalents (2,118,784) 10,409,184
Cash and cash equivalents at beginning of period 50,711,751 40,358,059
Cash and cash equivalents at beginning of period - discontinued operations 442,252 750,048
Less: cash and cash equivalents at end of period - discontinued operations (189,613) (432,002)
Cash and cash equivalents at end of period 48,845,606 51,085,289
Non-cash transactions:    
Dividends declared but not paid 1,500,218 1,302,754
Conversion (on a one-to-one basis) of 7,936 and 6,585, respectively, shares of redeemable preferred stock to common stock 4,762 3,951
Transfers from inventory to property, plant and equipment and construction in progress 224,952 246,238
Transfers from construction in progress to property, plant and equipment 525,673 413,416
Right-of-use assets obtained in exchange for new operating lease liabilities 249,145  
Purchase of equipment through issuance of long-term debt   68,422
Transfers from prepaids to property, plant and equipment 255,379  
Transfers from prepaids to inventory 238,032  
Redeemable preferred stock [Member]    
Non-cash transactions:    
Issuance of shares of common stock for services rendered 287,922 133,197
Common stock [Member]    
Non-cash transactions:    
Issuance of shares of common stock for services rendered 621,811 $ 521,016
Issuance of 368,383 and 0, respectively, shares of common stock for the purchase of non-controlling interests in PERC $ 5,359,973