XML 22 R5.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Statements of Cash Flows (Unaudited) (USD $)
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash Flows From Operating Activities:    
Net income (loss) $ 131,791 $ 120,466
Adjustments to reconcile net income (loss) to net cash provided(used) by operating activities:    
Depreciation expense 192,503 161,268
Common stock issued to directors for services 0 49,400
Deferred tax expense 21,926 0
Change in:    
Accounts receivable, net (349,421) (195,176)
Inventories (621,558) (381,926)
Other current assets (23,770) 0
Other assets (5,183) 0
Accounts payable 428,132 261,258
Accrued payroll, taxes and interest 12,839 28,625
Other accrued liabilities (44,330) (53,844)
Deferred revenue 0 (8,022)
Payables to related parties 24,203 10,494
Net cash provided (used) by operating activities (232,868) (7,457)
Cash Flows From Investing Activities:    
Restricted cash for reclamation bonds 0 (7)
Purchase of properties, plants and equipment (1,037,912) (370,156)
Net cash used by investing activities (1,037,912) (370,163)
Cash Flows From Financing Activities:    
Proceeds from sale of common stock, net of commissions 1,163,248 193,317
Principal payments of long-term debt (86,958) (31,849)
Payments received on stock subscription agreements 59,907 66,270
Change in checks issued and payable 0 7,787
Net cash provided by financing activities 1,136,197 235,525
NET DECREASE IN CASH AND CASH EQUIVALENTS (134,583) (142,095)
Cash and cash equivalents at beginning of period 448,861 180,613
Cash and cash equivalents at end of period 314,278 38,518
Noncash investing and financing activities:    
Properties, plants & equipment acquired with long-term debt 229,100 30,500
Properties, plants and equipment acquired with accounts payable 89,654 26,309
Stock issued for subscription receivable $ 0 $ 90,000