v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (5,542,344) $ (6,025,023)
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity    
Share based compensation 309,354 459,968
Depreciation and amortization 557,454 369,521
Amortization of debt issuance costs 807,636 1,540,875
Amortization of right-of-use asset 48,842 34,528
Fair Value Adjustment of Warrants (100,626) 0
Loss on extinguishment of debt 56,660 108,887
Loss (gain) on sale of assets (3,920) 25,075
Changes in operating assets and liabilities    
Accounts receivable 501,376 2,683,467
Prepaid expenses and other assets (64,541) (265,732)
Inventory 1,149,885 (771,672)
Accounts payable and accrued expenses 1,589,955 (728,797)
Operating lease liability (39,132) (33,472)
Net cash used in operating activities (729,401) (2,602,375)
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sale of assets 14,060 0
Purchase of exploration and evaluation assets (352,973) (656,964)
Purchase of property, plant, and equipment (42,383) (714,752)
Net cash used in investing activities (381,296) (1,371,716)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds on lines of credit 8,338,455 16,377,043
Payments on lines of credit (8,465,550) (18,426,517)
Proceeds from note payable 574,380 15,054,104
Payments on note payable (1,670,741) (8,847,174)
Payment of debt issuance costs 0 (1,043,187)
Payments on finance lease (3,474) 0
Proceeds on issuance of preferred Stock 0 307,921
Preferred stock offering costs   (40,874)
Proceeds on issuance of common stock 0 1,138,077
Common stock offering costs 0 (340,885)
Net cash provided by (used in) financing activities (1,226,930) 4,178,508
Effect of exchange rate on cash (1,675) (8,134)
Increase (decrease) in cash and restricted cash (2,339,302) 196,283
Cash and restricted cash, beginning of the period 3,314,913 4,680,836
Cash and restricted cash, end of the period $ 975,611 $ 4,877,119