CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
|
12 Months Ended |
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
|
| Income for the year |
$ 957,521
|
$ 2,002,031
|
$ 2,388,347
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Amortization |
173,667
|
154,939
|
142,323
|
| Stock-based compensation |
2,504
|
196,115
|
10,642
|
| Change in fair value warrant derivative liability |
0
|
(137,313)
|
21,520
|
| Unrealized foreign exchange loss (gain) |
(40,017)
|
(296,022)
|
(49,478)
|
| Purchase of trading securities |
(2,537,144)
|
(1,378,637)
|
(801,932)
|
| Proceeds on sale of trading securities |
2,053,292
|
1,562,517
|
1,921,090
|
| Net loss (gain) on sales of trading securities |
(714,523)
|
(1,346,699)
|
(1,485,100)
|
| Impairment on trading securities |
211,018
|
0
|
0
|
| Changes in non-cash working capital items: |
|
|
|
| (Increase) decrease in receivables and other assets |
(2,599)
|
76,836
|
(105,270)
|
| Decrease (increase) in inventory |
(133,292)
|
(448,944)
|
(242,098)
|
| Change in asset retirement obligation |
(47,054)
|
(18,517)
|
(29,314)
|
| Increase (decrease) in accounts payable and accrued liabilities |
742,718
|
139,110
|
(172,871)
|
| Net cash provided by operating activities |
666,091
|
505,415
|
1,597,859
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
|
| Acquisition of equipment |
(203,419)
|
(319,590)
|
(47,170)
|
| Net cash used in investing activities |
(203,419)
|
(319,590)
|
(47,170)
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
|
| Proceeds from exercise of options and warrants |
94,929
|
406,044
|
0
|
| Repurchase of capital stock |
(333,529)
|
(121,852)
|
(133,575)
|
| Net cash (used in) provided by financing activities |
(238,600)
|
284,192
|
(133,575)
|
| Change in cash and cash equivalents and restricted cash during the year |
224,072
|
470,017
|
1,417,114
|
| Cash and cash equivalents and restricted cash at beginning of year |
4,747,578
|
4,277,561
|
2,860,447
|
| Cash and cash equivalents and restricted cash, end of the year |
4,971,650
|
4,747,578
|
4,277,561
|
| Reconciliation of Cash and Cash Equivalents and Restricted Cash |
|
|
|
| Cash and cash equivalents at beginning of year |
4,451,256
|
3,981,239
|
2,564,125
|
| Restricted cash at beginning of year |
296,322
|
296,322
|
296,322
|
| Cash and cash equivalents and restricted cash at beginning of year |
4,747,578
|
4,277,561
|
2,860,447
|
| Cash and cash equivalents at end of year |
4,675,328
|
4,451,256
|
3,981,239
|
| Restricted cash at end of year |
296,322
|
296,322
|
296,322
|
| Cash and cash equivalents and restricted cash, end of the year |
$ 4,971,650
|
$ 4,747,578
|
$ 4,277,561
|