XML 18 R7.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net income (loss) before adjustment for non-controlling interest $ (2,346,808) $ (8,453,392)
Income (loss) from discontinued operations, net of tax 12,464,445 (5,323,630)
Income (loss) from continuing operations (14,811,253) (3,129,762)
  Adjustments to reconcile net loss from continuing operations to cash   used in operating activities, net of acquisitions    
Stock based compensation expense 612,626 490,958
Depreciation and amortization 439,653 375,790
Income tax benefit 0 0
Gain on forgiveness of debt (4,222,000) 0
Loss on sale of assets 1,927 124,090
Bad debt expense 629,791 (9,875)
Increase (decrease) in fair value of derivative warrant liability 11,380,122 (1,844,369)
Loss (gain) on commodity derivative contracts 2,204,606 (4,489,355)
Net cash settlements on commodity derivatives (1,998,707) 5,484,734
Amortization of debt discount and deferred costs 37,500 47,826
Changes in operating assets and liabilities, net of effect of acquisition    
Accounts receivable and other receivables (1,513,058) 206,352
Inventory (911,980) 1,008,343
Prepaid expenses and other current assets (3,232,253) (1,186,023)
Accounts payable 3,184,965 1,729,129
Accrued expenses 1,203,283 (1,207,230)
Other assets (699,999) (581,534)
Net cash used by operating activities (7,694,777) (2,980,926)
Cash flows from investing activities    
Acquisition of business, net of cash 2,058 (1,822,690)
Internally developed software 0 (49,229)
Purchase of fixed assets (1,060,039) (642,186)
Deposit for Refinery Purchase (10,000,000) 0
Proceeds from sale of fixed assets 74,991 36,465
Net cash used in investing activities (10,982,990) (2,477,640)
Cash flows from financing activities    
Payments on finance leases (91,893) (93,438)
Proceeds from exercise of options and warrants to common stock 6,492,759 0
Distributions to noncontrolling interest (169,368) 0
Contributions received from noncontrolling interest and redeemable noncontrolling interest 2,260 21,000,000
Line of credit (payments) proceeds, net (166,129) 0
Proceeds from note payable (includes proceeds from PPP note) 10,078,115 7,992,346
Payments on note payable (3,778,589) (12,601,976)
Net cash provided by financing activities 12,367,155 16,296,932
Discontinued operations:    
Net cash provided (used) by operation activities 11,014,236 4,370,152
Net cash used in investing activities (3,168,865) (3,527,980)
Net cash provided (used) by financing activities (317,226) (227,259)
Net cash provided by discontinued operations 7,528,145 614,913
Net change in cash, cash equivalents and restricted cash 1,217,533 11,453,279
Cash, cash equivalents, and restricted cash at beginning of the period 10,995,169 4,199,825
Cash, cash equivalents, and restricted cash at end of period 12,212,702 15,653,104
SUPPLEMENTAL INFORMATION    
Cash paid for interest 843,523 812,887
Cash paid for taxes 0 0
NON-CASH INVESTING AND FINANCING TRANSACTIONS    
Exchanges of Series B Preferred Stock into common stock 4,747,250 0
Accretion of discount on Series B and B1 Preferred Stock 507,282 1,500,395
Dividends-in-kind accrued on Series B and B1 Preferred Stock (258,138) 1,296,493
Option exercised 650 0
Equipment acquired under finance leases 0 1,017,638
Initial adjustment of carrying amount redeemable noncontrolling interests 0 9,091,068
Accretion of redeemable noncontrolling interest to redemption value 1,176,683 13,635,797
Series A Preferred Stock    
NON-CASH INVESTING AND FINANCING TRANSACTIONS    
Conversion of Series A, B and B1 Preferred Stock into Common Stock 34 0
Series B Preferred Stock    
NON-CASH INVESTING AND FINANCING TRANSACTIONS    
Conversion of Series A, B and B1 Preferred Stock into Common Stock 8,446,836 0
Series B1 Preferred Stock    
NON-CASH INVESTING AND FINANCING TRANSACTIONS    
Conversion of Series A, B and B1 Preferred Stock into Common Stock $ 12,046,441 $ 3,368,474