XML 28 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash Flows From Operating Activities:      
Net income $ 636,920 $ 805,213 $ (294,843)
Adjustments to reconcile net income (loss) to net cash provided(used) by operating activities:      
Depreciation expense 405,746 355,876 262,452
Allowance for doubtful accounts 0 (272) (2,128)
Common stock issued to directors for services 230,004 117,000 39,000
Gain on sale of properties, plant and equipment 0 0 (49,100)
Impairment of properties, plant and equipment 0 199,302 0
Deferred income tax expense (96,442) 493,000 0
Extinguishment of payables 0 0 (37,072)
Change in:      
Accounts receivable, net (546,557) (583,381) (92,876)
Inventories (923,522) 54,145 (88,219)
Other current assets (37,953) (18,255) 0
Other assets 40,000 (94,766) 0
Accounts payable 584,698 32,467 (116,729)
Accrued payroll, taxes and interest 51,425 6,646 4,429
Other accrued liabilities (100,836) (8,357) 31,764
Deferred revenue 43,760 (73,022) 7,581
Payables to related parties 83,914 7,754 (22,446)
Net cash provided (used) by operating activities 564,041 307,350 (358,187)
Cash Flows From Investing Activities:      
Restricted cash for reclamation bonds (466) (395) 6,748
Purchase of properties, plants and equipment (2,238,975) (965,524) (597,563)
Net cash used by investing activities (2,239,441) (965,919) (590,815)
Cash Flows From Financing Activities:      
Proceeds from sale of common stock, net of commissions 1,160,217 799,522 1,122,243
Principal payments of long-term debt (124,722) (59,270) (57,901)
Proceeds from long term debt 0 0 1,232
Payments received on stock subscription agreements 82,563 203,707 13,333
Change in checks issued and payable 113,908 (17,142) (3,140)
Net cash provided by financing activities 1,231,966 926,817 1,075,767
NET DECREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (443,434) 268,248 126,765
Cash and cash equivalents at beginning of period 448,861 180,613 53,848
Cash and cash equivalents at end of period 5,427 448,861 180,613
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION      
Interest paid in cash (net of amount capitailzed) 0 5,796 5,605
Noncash investing and financing activities:      
Properties, plants & equipment acquired with long-term debt 234,775 30,500 106,300
Stock issued for subscription receivable 0 180,000 0
Write-off of uncollectible stock subscriptions 0 163,730 0
Stock issued for conversion of note payable to related party and warrants exercised forgiveness of payable to related party 0 0 300,000
Payment of long-term debt with equipment $ 0 $ 0 $ 55,000