XML 18 R6.htm IDEA: XBRL DOCUMENT v3.24.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income (Loss) $ (3,214,694) $ 7,196,702
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:    
Depreciation and Amortization 15,649,902 14,294,377
Gain on Sale of Investments (4,062,759)
Impairment of Goodwill 9,300,000
Unrealized (Gains) Losses on Investments 92,263 (217,876)
Undistributed Earnings of Other Equity Investment (280,000) (515,963)
Noncash Patronage Refund (123,745) (133,467)
Stock Issued in Lieu of Cash Payment 471,092 398,424
Distributions from Equity Investments 128,048 210,917
Stock-based Compensation 221,749 64,301
Changes in Assets and Liabilities:    
Receivables (190,494) 34,677
Income Taxes Receivable 283,665 1,121,957
Inventories for Resale 41,522 10,238
Prepaid Expenses (358,652) 89,882
Other Assets (458,211) (40,627)
Accounts Payable 49,249 199,257
Checks Written in Excess of Cash Balance 2,270,832
Accrued Income Taxes 581,098
Other Accrued Taxes 9,525 (16,048)
Other Accrued Liabilities (1,833,079) 1,524,133
Deferred Income Tax 520,086 2,349,440
Deferred Compensation (111,916) (46,059)
Net Cash Provided by Operating Activities 18,985,481 26,524,265
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to Property, Plant, and Equipment, Net (55,547,283) (37,977,118)
Materials and Supplies for Construction (13,404,354) (15,651,923)
Proceeds from Sale of Equity Investments 5,876,305
Other, Net 229,854 4,804
Net Cash Used in Investing Activities (62,845,478) (53,624,237)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal Payments of Long-Term Debt (57,330,775)
Loan Proceeds 40,000,000 56,063,223
Loan Origination Fees (151,237) (1,165,859)
Changes in Revolving Credit Facility 4,281,191 33,172,860
Grants Received for Construction of Plant 2,110,162 396,360
Repurchase of Common Stock (3,187,500)
Dividends Paid (1,430,771) (2,843,930)
Net Cash Used in Financing Activities 44,809,345 25,104,379
NET CHANGE IN CASH 949,348 (1,995,593)
CASH at Beginning of Period 310,556 2,306,149
CASH at End of Period 1,259,904 310,556
Supplemental cash flow information:    
Cash paid for interest 7,131,224 1,505,687
Net cash paid (received) for income taxes $ 930,807 $ (770,934)