CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
|
3 Months Ended |
12 Months Ended |
Mar. 31, 2022 |
Mar. 31, 2021 |
Dec. 31, 2021 |
Dec. 31, 2020 |
| CASH FLOW FROM OPERATING ACTIVITIES |
|
|
|
|
| Net income (loss) |
$ (6,547,023)
|
$ 8,188,231
|
$ (24,583,620)
|
$ 14,931,970
|
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |
|
|
|
|
| Depreciation and amortization |
264,257
|
114,906
|
|
|
| Amortization of intangibles |
580,274
|
0
|
569,721
|
0
|
| Accretion (reduction) of reclamation liability |
82,316
|
(790,950)
|
(609,247)
|
20,711
|
| Accretion of discount on MCU Philippines, Inc. note receivable |
(30,093)
|
(20,267)
|
(107,238)
|
(5,074)
|
| Amortization of debt discount and other debt-related items |
42,812
|
(45,791)
|
(38,656)
|
240,219
|
| Employee and director share based compensation |
108,599
|
97,010
|
463,986
|
204,249
|
| Change in fair value of derivatives |
(3,065,000)
|
(7,487,249)
|
13,155,946
|
(526,788)
|
| Gain (loss) on investments in securities |
(407,393)
|
900,575
|
2,244,951
|
(3,152,702)
|
| Loss from equity method investments |
266,903
|
31,454
|
2,049,070
|
2,131
|
| Impairment of MCU-P and MCU note receivable and investments |
4,084,268
|
0
|
|
|
| Writedown of uncollectible receivable |
338,034
|
0
|
300,000
|
0
|
| Change in fair value of Tonogold Resources, Inc. convertible preferred shares |
55,769
|
(193,664)
|
0
|
2,544,000
|
| Change in fair value of Tonogold Resources, Inc. note receivable |
605,000
|
(1,008,000)
|
418,500
|
642,997
|
| Impairment of LPB investment |
54,587
|
0
|
|
|
| Non-cash Tonogold reimbursements and fees |
0
|
(812,500)
|
(2,175,000)
|
0
|
| Changes in operating assets and liabilities: |
|
|
|
|
| Prepaid expenses |
(139,979)
|
(194,019)
|
(717,822)
|
(60,501)
|
| Deposits |
58,848
|
0
|
479,881
|
0
|
| Other assets |
33,451
|
(8,073)
|
(85,817)
|
192,500
|
| Accounts payable |
(327,140)
|
(91,883)
|
(707,004)
|
(464,309)
|
| Accrued expenses, other liabilities and deposits |
80,272
|
(887,078)
|
104,456
|
(212,996)
|
| Net cash used by operating activities |
(3,861,238)
|
(2,207,298)
|
(7,492,402)
|
(3,764,575)
|
| CASH FLOW FROM INVESTING ACTIVITIES: |
|
|
|
|
| Payments to acquire intangible assets |
500,000
|
0
|
|
|
| Proceeds from Lucerne's mineral properties option |
750,000
|
0
|
|
|
| Purchase of mineral rights and properties, plant and equipment |
(553,200)
|
(40,750)
|
(78,467)
|
(130,750)
|
| Purchases related to construction in progress |
(95,214)
|
0
|
|
|
| Proceeds from principal payment on note receivable |
2,502
|
144
|
9,058
|
2,795
|
| Proceeds from sale of Tonogold Resources, Inc. common shares |
169,701
|
502,951
|
798,313
|
2,944,929
|
| Change in reclamation bond deposit |
(64)
|
(65)
|
(240)
|
(6,742)
|
| Net cash provided by (used) in investing activities |
(226,275)
|
(3,245,343)
|
(16,097,485)
|
3,207,696
|
| CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
|
|
| Principal payments on debt |
(8,389)
|
(3,511,914)
|
(3,568,214)
|
(7,564,586)
|
| Proceeds from the issuance of common stock |
0
|
18,020,000
|
27,399,999
|
4,197,622
|
| Sale of treasury stock |
2,721
|
0
|
|
|
| Investment in LINICO by Aqua Metals |
500,000
|
0
|
|
|
| Common stock issuance costs |
(70,000)
|
(997,999)
|
(1,064,498)
|
(130,070)
|
| Repurchase of employee stock options |
0
|
(194,581)
|
(247,156)
|
0
|
| Net cash provided by financing activities |
424,332
|
13,315,506
|
27,070,131
|
1,972,966
|
| Net increase in cash |
(3,663,181)
|
7,862,865
|
3,480,244
|
1,416,087
|
| Cash at beginning of year |
5,912,188
|
2,431,944
|
2,431,944
|
1,015,857
|
| Cash at end of year |
2,249,007
|
10,294,809
|
5,912,188
|
2,431,944
|
| NON-CASH INVESTING AND FINANCING ACTIVITIES: |
|
|
|
|
| Increase in Tonogold note receivable in exchange for non-cash reimbursements |
5,110,000
|
0
|
1,812,500
|
0
|
| Note receivable exchanged for investment in Comstock Mining LLC |
(6,650,000)
|
0
|
|
|
| Issuance of common shares for stock issuance costs |
0
|
250,003
|
500,002
|
125,000
|
| Issuance of common shares for Mercury Clean Up, LLC make whole liability |
0
|
6,250,000
|
0
|
314,687
|
| Investment in Pelen LLC |
0
|
500,000
|
0
|
585,000
|
| Mercury Clean Up LLC |
|
|
|
|
| CASH FLOW FROM INVESTING ACTIVITIES: |
|
|
|
|
| Proceeds from Mercury Clean Up, LLC derivative asset settlement |
0
|
762,377
|
762,377
|
0
|
| Payments to acquire investments |
|
|
(820,000)
|
(413,093)
|
| M C U Philippines Inc |
|
|
|
|
| CASH FLOW FROM INVESTING ACTIVITIES: |
|
|
|
|
| Addition to MCU Philippines, Inc. note receivable |
0
|
820,000
|
|
|
| Payments to acquire investments |
|
|
(1,000)
|
(1,180,000)
|
| LINICO Corporation |
|
|
|
|
| CASH FLOW FROM INVESTING ACTIVITIES: |
|
|
|
|
| Payments to acquire investments |
0
|
(1,500,000)
|
(6,025,034)
|
0
|
| LP Biosciences LLC |
|
|
|
|
| CASH FLOW FROM INVESTING ACTIVITIES: |
|
|
|
|
| Payments to acquire investments |
|
|
(576,258)
|
0
|
| Sierra Springs Opportunity Fund, Inc. |
|
|
|
|
| CASH FLOW FROM INVESTING ACTIVITIES: |
|
|
|
|
| Proceeds from Mercury Clean Up, LLC derivative asset settlement |
1,300,000
|
0
|
|
|
| Payments for advance to affiliate |
$ (1,300,000)
|
$ (2,150,000)
|
$ (3,285,000)
|
$ (1,650,000)
|