Year Ended December 31,

2023

2022

Interest paid in cash

$

21,417

$

14,797

Income taxes paid in cash

$

4,920,912

$

211,000

Non-cash transactions:

Issuance of 13,309 and 9,295, respectively, shares of redeemable preferred stock for services rendered

$

323,275

$

133,197

Issuance of 68,864 and 72,597, respectively, shares of common stock for services rendered

$

1,015,177

$

877,298

Conversion (on a one-to-one basis) of 8,848 and 6,585, respectively, shares of redeemable preferred stock to common stock

$

5,309

$

3,951

Dividends declared but not paid

$

1,502,506

$

1,305,367

Issuance of 368,383 and 0, respectively, shares of common stock for the purchase of non-controlling interest in PERC

$

5,359,973

$

—

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

$

317,853

$

346,024

Transfers from construction in progress to property, plant and equipment

$

7,093,158

$

297,723

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

$

745,078

$

—

Purchase of equipment through issuance of long-term debt

$

—

$

188,645