CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
|
12 Months Ended |
Dec. 31, 2021 |
Dec. 31, 2020 |
| CASH FLOW FROM OPERATING ACTIVITIES |
|
|
| Net income (loss) |
$ (24,583,620)
|
$ 14,931,970
|
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |
|
|
| Depreciation, amortization and depletion |
522,728
|
1,217,217
|
| Amortization of intangibles |
569,721
|
0
|
| Accretion (reduction) of reclamation liability |
(609,247)
|
20,711
|
| Accretion of discount on MCU Philippines, Inc. note receivable |
(107,238)
|
(5,074)
|
| Gain on sale of mineral rights and properties |
0
|
(152,000)
|
| Amortization of debt discount and other debt-related items |
(38,656)
|
240,219
|
| Employee and director share based compensation |
463,986
|
204,249
|
| Change in fair value of derivatives |
13,155,946
|
(526,788)
|
| Gain on sale of membership interest in Comstock Mining LLC |
0
|
(18,275,846)
|
| Gain (loss) on investments in securities |
2,244,951
|
(3,152,702)
|
| Loss from equity method investments |
2,049,070
|
2,131
|
| Impairment of goodwill and intangible assets |
6,394,610
|
0
|
| Write off LPB note receivable and deposit |
576,258
|
0
|
| Writedown of uncollectible receivable |
300,000
|
0
|
| Change in fair value of Tonogold Resources, Inc. convertible preferred shares |
0
|
2,544,000
|
| Non-cash Tonogold reimbursements and fees |
(2,175,000)
|
0
|
| Change in fair value of Tonogold Resources, Inc. note receivable |
418,500
|
642,997
|
| Change in fair value of contingent forward asset |
0
|
(765,880)
|
| Gain on final settlement of accounts payable |
0
|
(144,473)
|
| Deferred tax benefit |
(5,748,105)
|
0
|
| Changes in operating assets and liabilities: |
|
|
| Prepaid expenses |
(717,822)
|
(60,501)
|
| Deposits |
479,881
|
0
|
| Other assets |
(85,817)
|
192,500
|
| Accounts payable |
(707,004)
|
(464,309)
|
| Accrued expenses, other liabilities and deposits |
104,456
|
(212,996)
|
| Net cash used by operating activities |
(7,492,402)
|
(3,764,575)
|
| CASH FLOW FROM INVESTING ACTIVITIES: |
|
|
| Acquisition-related costs |
(224,948)
|
0
|
| Purchase of mineral rights and properties, plant and equipment |
(78,467)
|
(130,750)
|
| Proceeds from principal payment on note receivable |
9,058
|
2,795
|
| Proceeds from sale of mineral rights and properties, plant and equipment |
0
|
100,000
|
| Proceeds from Tonogold Resources, Inc. related to Comstock Mining LLC |
0
|
240,000
|
| Proceeds from sale of Tonogold Resources, Inc. common shares |
798,313
|
2,944,929
|
| Proceeds from redemption of Tonogold Resources, Inc. convertible preferred shares |
0
|
2,616,000
|
| Payments received on Tonogold Resources, Inc. note receivable |
0
|
900,000
|
| Cash acquired in acquisitions |
219,217
|
0
|
| Change in reclamation bond deposit |
(240)
|
(6,742)
|
| Net cash provided by (used) in investing activities |
(16,097,485)
|
3,207,696
|
| CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
| Principal payments on debt |
(3,568,214)
|
(7,564,586)
|
| Proceeds from issuance of promissory notes payable |
4,550,000
|
5,470,000
|
| Proceeds from the issuance of common stock |
27,399,999
|
4,197,622
|
| Common stock issuance costs |
(1,064,498)
|
(130,070)
|
| Repurchase of employee stock options |
(247,156)
|
0
|
| Net cash provided by financing activities |
27,070,131
|
1,972,966
|
| Net increase in cash |
3,480,244
|
1,416,087
|
| Cash at beginning of year |
2,431,944
|
1,015,857
|
| Cash at end of year |
5,912,188
|
2,431,944
|
| SUPPLEMENTAL CASH FLOW INFORMATION: |
|
|
| Cash paid for interest |
107,499
|
783,325
|
| Cash paid for income taxes |
0
|
0
|
| NON-CASH INVESTING AND FINANCING ACTIVITIES: |
|
|
| Increase in Tonogold note receivable in exchange for non-cash reimbursements |
1,812,500
|
0
|
| Issuance of common shares for Northern Comstock LLC mineral rights payments |
482,500
|
482,500
|
| Issuance of common shares for stock issuance costs |
500,002
|
125,000
|
| Asset held for sale transferred to property, plant and equipment |
6,328,338
|
0
|
| Conversion of Tonogold convertible preferred stock to Tonogold common stock |
0
|
3,920,000
|
| Issuance of common shares for Mercury Clean Up, LLC make whole liability |
0
|
314,687
|
| Investment in Pelen LLC |
0
|
585,000
|
| LINICO Corporation |
|
|
| CASH FLOW FROM INVESTING ACTIVITIES: |
|
|
| Payments to acquire investments |
(6,025,034)
|
0
|
| NON-CASH INVESTING AND FINANCING ACTIVITIES: |
|
|
| Issuance of common stock for acquisitions |
7,255,831
|
0
|
| Issuance of common shares for investments |
6,250,000
|
0
|
| Issuance of common shares for derivative assets |
500,000
|
0
|
| Quantum Generative Materials LLC |
|
|
| CASH FLOW FROM INVESTING ACTIVITIES: |
|
|
| Payments to acquire investments |
(4,250,000)
|
0
|
| NON-CASH INVESTING AND FINANCING ACTIVITIES: |
|
|
| Issuance of common shares for investments |
10,000,000
|
0
|
| Issuance of common shares for derivative assets |
530,000
|
0
|
| Plain Sight Innovations Corporation |
|
|
| CASH FLOW FROM INVESTING ACTIVITIES: |
|
|
| Payments to acquire investments |
(1,875,503)
|
0
|
| NON-CASH INVESTING AND FINANCING ACTIVITIES: |
|
|
| Issuance of common stock for acquisitions |
14,952,806
|
0
|
| Mercury Clean Up LLC |
|
|
| CASH FLOW FROM INVESTING ACTIVITIES: |
|
|
| Payments to acquire investments |
(820,000)
|
(413,093)
|
| Proceeds from Mercury Clean Up, LLC derivative asset settlement |
762,377
|
0
|
| M C U Philippines Inc |
|
|
| CASH FLOW FROM INVESTING ACTIVITIES: |
|
|
| Payments to acquire investments |
(1,000)
|
(1,180,000)
|
| Pelen LLC |
|
|
| CASH FLOW FROM INVESTING ACTIVITIES: |
|
|
| Payments to acquire investments |
0
|
(17,500)
|
| Payments on Pelen LLC option and obligations |
(100,000)
|
(297,943)
|
| LP Biosciences LLC |
|
|
| CASH FLOW FROM INVESTING ACTIVITIES: |
|
|
| Payments to acquire investments |
(576,258)
|
0
|
| NON-CASH INVESTING AND FINANCING ACTIVITIES: |
|
|
| Issuance of common shares for investments |
4,173,000
|
0
|
| Issuance of common shares for derivative assets |
6,642,000
|
0
|
| Sierra Springs Opportunity Fund, Inc. |
|
|
| CASH FLOW FROM INVESTING ACTIVITIES: |
|
|
| Payments for advance to affiliate |
(3,285,000)
|
(1,650,000)
|
| Deposits received on the sale of properties to Sierra Springs Opportunity Fund, Inc. |
0
|
100,000
|
| Solid Carbon Products |
|
|
| CASH FLOW FROM INVESTING ACTIVITIES: |
|
|
| Payments for advance to affiliate |
(300,000)
|
0
|
| FPC |
|
|
| CASH FLOW FROM INVESTING ACTIVITIES: |
|
|
| Payments to acquire investments |
(350,000)
|
0
|
| Renewable Process Solutions, Inc. |
|
|
| NON-CASH INVESTING AND FINANCING ACTIVITIES: |
|
|
| Issuance of common stock for acquisitions |
2,304,806
|
0
|
| MANA Corporation |
|
|
| NON-CASH INVESTING AND FINANCING ACTIVITIES: |
|
|
| Issuance of common stock for acquisitions |
$ 6,528,453
|
$ 0
|