XML 25 R5.htm IDEA: XBRL DOCUMENT v2.3.0.15
Consolidated Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash Flows From Operating Activities:  
Net income$ 839,866$ 206,281
Adjustments to reconcile net income (loss) to net cash provided(used) by operating activities:  
Depreciation expense297,866263,858
Common stock issued to directors for services049,400
Mexico impairment loss0199,302
Deferred income tax expense21,9260
Change in:  
Accounts receivable, net374,298(158,078)
Inventories(1,099,035)(326,390)
Other receivable(279,193)0
Other current assets(88,196)0
Accounts payable627,75283,965
Accrued payroll, taxes and interest(12,302)27,213
Other accrued liabilities(36,324)(46,121)
Deferred revenue0(8,022)
Payables to related parties28,15811,954
Net cash provided (used) by operating activities674,816303,362
Cash Flows From Investing Activities:  
Restricted cash for reclamation bonds(9)(19)
Purchase of properties, plants and equipment(1,744,892)(792,332)
Net cash used by investing activities(1,744,901)(792,351)
Cash Flows From Financing Activities:  
Proceeds from sale of common stock, net of commissions1,160,218281,817
Principal payments of long-term debt(110,487)(41,302)
Payments received on stock subscription agreements82,563126,270
Change in checks issued and payable0(17,142)
Net cash provided by financing activities1,132,294349,643
NET DECREASE IN CASH AND CASH EQUIVALENTS62,209(139,436)
Cash and cash equivalents at beginning of period448,861180,613
Cash and cash equivalents at end of period511,07041,267
Noncash investing and financing activities:  
Properties, plants & equipment acquired with long-term debt239,90030,500
Properties, plants and equipment acquired with accounts payable89,65446,810
Stock issued for subscription receivable$ 0$ 180,000