Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net loss $ (86,841,169) $ (246,495,102)
Adjustments to reconcile net loss to cash provided (used) by operating activities    
Stock-based compensation 123,754 1,536,895
Depreciation, depletion, amortization and accretion 8,461 9,458
Change in fair value of derivative liability 71,846,677 222,688,936
Amortization of debt discount 2,380,143 0
(Equity) deficit in earnings of unconsolidated entity 8,265,256 18,339,293
Changes in operating assets and liabilities    
Accounts receivable 24,389 (2,894)
Prepaid expenses (85,250) (107,872)
Accounts payable and accrued expenses 1,201,345 1,827,527
Net cash used in operating activities (3,076,394) (2,203,759)
Cash flows from investing activities:    
Cash paid for Viking investment 0 (11,000,000)
Loans to Viking (3,922,300) 0
Repayments received from Viking 1,200,000 0
Net cash used in investing activities (2,722,300) (11,000,000)
Cash flows from financing activities:    
Repayment of long-term debt (1,000,000)  
Redemption of Series G preferred stock (2,750,000) 0
Redemption of Series C preferred stock (18,850,000) 0
Proceeds from issuance of Series C Preferred Stock 0 15,000,000
Proceeds from long-term debt 25,000,000 2,500,000
Net cash provided by financing activities 2,400,000 17,500,000
Net increase (decrease) in cash (3,398,694) 4,296,241
Cash, beginning of period 5,854,382 868,548
Cash, end of period 2,455,688 5,164,789
Cash paid for:    
Interest 65,559 0
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