v3.22.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income (loss) $ (63,560,442) $ 18,060,420
Adjustments to reconcile net loss to cash provided (used) by operating activities    
Stock-based compensation 123,754 1,328,005
Depreciation, depletion, amortization and accretion 5,737 7,552
Change in fair value of derivative liability 57,602,973 (34,166,784)
Amortization of debt discount 1,569,131 0
Deficit in earnings of unconsolidated entity 2,004,560 12,078,513
Changes in operating assets and liabilities    
Accounts receivable 18,005 7,077
Prepaid expenses and other assets (170,500) (193,122)
Accounts payable and accrued expenses 274,278 1,562,865
Net cash used in operating activities (2,132,504) (1,315,474)
Cash flows from investing activities:    
Loan to Viking (3,922,300) 0
Net cash used in investing activities (3,922,300) 0
Cash flows from financing activities:    
Repayment of long-term debt (1,000,000) 0
Redemption of Series G preferred stock (2,750,000) 0
Redemption of Series C preferred stock (18,850,000)  
Proceeds from long-term debt 25,000,000 2,500,000
Net cash provided in financing activities 2,400,000 2,500,000
Net increase (decrease) in cash (3,654,804) 1,184,526
Cash, beginning of period 5,854,382 868,548
Cash, end of period 2,199,578 2,053,074
Cash paid for:    
Interest 63,368 2,848
Taxes 0 0
Supplemental disclosure of Non-Cash Investing and Financing Activities:    
Issuance of series C Preferred Stock as investment in Viking $ 0 $ 18,900,000

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