• Filing Date: 2019-02-14
  • Form Type: S-1/A
  • Description: General form for registration of securities under the Securities Act of 1933 (Amendment)
v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended 12 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Dec. 31, 2017
Dec. 31, 2016
Cash Flows from Operating activities:        
Net loss $ (7,990,153) $ (8,702,703) $ (14,025,466) $ (22,089,282)
Adjustments to reconcile net income (loss) to net cash        
Depreciation 1,779,539 1,856,442 2,557,714 2,262,855
Amortization of mining rights 181,385 0 0 0
Accretion expense 1,435,295 1,181,055 1,791,051 1,664,774
Cancelation of debt (315,000) 0 0 0
Loss on reclamation settlements 0 281,907 0 71,245
Assumption of note payable in reverse merger 0 50,000 50,000 0
Gain on disposition (807,591) 0    
Recovery of previously impaired receipts (92,573) (241,574) (387,427) 510,902
Amortization of debt discount 420,134 284,406 477,056 9,406
Warrant expense 234,067 0 0 0
Option expense 13,410 0 0 0
Impairment of related party note receivable 0 0 250,000 0
Stock compensation expense 201,250 10,000 50,000 88,675
Change in current assets and liabilities:        
Accounts receivable (930,478) 2,123,881 882,637 (2,753,199)
Inventory 188,371 0 (615,096) 0
Prepaid expenses and other assets (147,826) 0 0 920
Restricted cash used to pay interest expense 0 0 14,981 13,984
Accounts payable 973,057 2,824,351 3,096,351 2,196,060
Funds held for others (19,061) 0 0 0
Due to affiliates 512,378 0 0 0
Accrued expenses 0 0 0 12,340,615
Accrued interest 287,639 90,000 213,625 122,945
Reclamation liability settlements 0 (709,132) 0 (256,892)
Cash used in operating activities (4,076,157) (951,367) (5,644,574) (5,816,992)
Cash Flows from Investing activities:        
Note receivable 0 0 0 (4,117,139)
Increase in restricted cash 0 0 (57,841) (116,115)
Restricted cash used to pay down debt 0 0 65,604 54,421
Advances made in connection with management agreement (99,582) (75,000) (77,800) (1,845,902)
Advance repayment in connection with management agreement 222,304 469,645 625,227 1,175,000
Cash paid for PPE, net (127,957) (176,597) (173,432) (34,200)
Cash received from acquisitions, net of $0 and $100 cash paid 0 0 0 5,315,700
Cash (used in) provided by investing activities (5,235) 218,048 381,758 431,765
Cash Flows from Financing activities:        
Principal payments on long term debt (2,064,902) (318,576) (392,002) (303,706)
Proceeds from long term debt 5,316,977 1,670,000 4,440,000 4,857,391
Proceeds from related party 0 50,000 50,000  
Net proceeds from (payments to) factoring agreement 787,434 (1,521,577) (32,985) 1,616,067
Proceeds from sale of series B preferred equity 0 600,000 0 0
Proceeds from private placements 0 0 600,000 0
Cash provided by financing activities 4,039,509 479,847 4,665,013 6,169,752
(Decrease) increase in cash and restricted cash (41,883) (253,472) (597,803) 784,525
Cash and restricted cash, beginning of period 385,665 784,525 784,525  
Cash and restricted cash, end of period 343,782 531,053 385,665 784,525
Cash, beginning of year 186,722 784,525 784,525 0
Cash, end of year     186,722 784,525
Non-cash investing and financing activities        
Assumption of net assets and liabilities for asset acquisitions 2,217,952 0 0 2,745,582
Equipment for notes payable 906,660 1,222,500 1,419,650 904,425
Purchase of related party note receivable in exchange for Series B Equity 0 250,000 250,000 0
Preferred Series B Dividends 104,157 0 0 0
Affiliate note for equipment 0 0 0 63,000
Conversion of note payable to common stock 0 50,000 50,000 0
Beneficial conversion feature on note payable 0 50,000 50,000 0
Forgiveness of accrued management fee 17,840,615 0 0 0
Relative fair value debt discount on warrant issue 0 300,000 440,000 0
Cash paid for interest 156,331 193,564 345,147 160,619
Cash paid for income taxes $ 0 $ 0 $ 0 $ 0