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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net loss $ (13,735,256) $ (2,877,596)
Adjustments to reconcile net loss to net cash from operating activities:    
Depreciation and amortization 3,776,694 3,884,970
Net unrealized loss on investments 47,165 4,759,639
Realized gain on investments   (5,574,791)
Accreted interest   9,157
Bond amortization (505)  
Deferred taxes 8,392,031 (701,205)
Provision for credit losses 427,487 370,573
Net realizable value inventory adjustment 1,872 143,290
Other income - TIA (2,959,695) (3,031,798)
(Increase) decrease in operating assets:    
Accounts receivable 5,554,005 (2,758,677)
Inventories (4,438,769) (373,901)
Other current assets 75,333 (35,220)
Income taxes receivable 76,960 1,424,723
Other assets 26,082 13,830
Increase (decrease) in operating liabilities:    
Accounts payable (1,664,967) (2,823,502)
Accrued liabilities (302,198) 700,711
Income taxes payable (1,491) (58,396)
Net cash used by operating activities (4,725,252) (6,928,193)
Cash flows from investing activities    
Purchase of property, plant, and equipment (348,100) (556,385)
Purchase of debt and equity securities (476,946) (43,868,141)
Proceeds from the sales of debt and equity securities   34,567,513
Net cash used by investing activities (825,046) (9,857,013)
Cash flows from financing activities    
Repayments of long-term debt (148,963) (139,146)
Proceeds from Technology Investment Agreement (TIA)   2,563,229
Payment of preferred stock repurchase payable   (1,101,110)
Payment of preferred stock dividends (115,222) (116,223)
Net cash provided (used) by financing activities (264,185) 1,206,750
Net decrease in cash and cash equivalents (5,814,483) (15,578,456)
Cash and cash equivalents at:    
Beginning of period 12,667,550 19,721,345
End of period 6,853,067 4,142,889
Supplemental schedule of cash flow information:    
Interest paid 65,300 $ 28,312
Income taxes paid (received) (71,318)  
Supplemental schedule of noncash investing and financing activities:    
Preferred dividends declared, not paid $ 57,611