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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:        
Net loss $ (9,581,303) $ (7,632,972) $ (18,735,935) $ (14,209,010)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation 6,146 1,376 11,208 2,752
Stock-based compensation expense     1,382,905 1,018,296
Noncash lease expense     60,919 74,979
Loss on sale of property, plant and mine development     11,542 0
Unrealized loss on investment     23,824 0
Loss on equity investments in unconsolidated affiliates 1,155,379 64,626 4,544,882 64,626
Changes in operating assets and liabilities:        
Other assets     (1,969,142) (1,172,736)
Accounts payable     (486,145) 305,200
Accrued expenses and other current liabilities     (2,697,909) 1,192,448
Net cash used in operating activities     (17,853,851) (12,723,445)
Cash flows from investing activities:        
Capital expenditures     (11,533,913) (13,136,824)
Advances Paid On Equity Method Investment     7,099,355 0
Equity investments in unconsolidated affiliates (8,008,697) (7,042,018) (10,054,904) (16,358,412)
Net cash used in investing activities     (28,688,172) (29,495,236)
Cash flows from financing activities:        
Proceeds from issuances of common stock, net of issuance costs     122,059,476 114,087,891
Proceeds from exercise of stock options     93,326 216,151
Principal payments on long-term debt     (822,066) (370,707)
Net cash provided by financing activities     121,330,736 113,933,335
Net increase in cash     74,788,713 71,714,654
Cash and cash equivalents at beginning of period     64,244,983 70,936,994
Cash and cash equivalents at end of period 139,033,696 142,651,648 139,033,696 142,651,648
Supplemental disclosure of cash flow information:        
Noncash capital expenditures in accounts payable and accrued expenses     2,004,734 0
Cash paid for interest     76,612 68,838
Capitalized stock-based compensation $ 80,560 $ 0 $ 122,418 $ 0