XML 15 R6.htm IDEA: XBRL DOCUMENT v3.23.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating activities:    
Net loss $ (3,928,000) $ (2,367,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Unrealized loss (gain) on marketable equity securities 94,000 (82,000)
Unrealized loss on short-term investments 108,000 102,000
Loss on sale of marketable equity securities 201,000 248,000
Loss on derivative instruments 4,000 38,000
Other income - Paycheck Protection Program loan forgiveness 0 (10,000)
Mineral property impairment 0 17,000
Employee stock option expense 338,000 124,000
Depreciation 29,000 27,000
Amortization of right of use lease asset 40,000 40,000
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 265,000 (277,000)
Accounts payable and other current liabilities (51,000) (17,000)
Net cash used in operating activities (2,900,000) (2,157,000)
Investing activities:    
Sale of short-term investments - net 1,028,000 609,000
Additions to mineral property (340,000) (635,000)
Sale of marketable equity securities 63,000 147,000
Sale of derivative instruments - net 0 8,000
Additions to other assets (50,000) (39,000)
Net cash provided by investing activities 701,000 90,000
Financing activities:    
Issuance of common stock - net of issuance costs 2,023,000 1,841,000
Stock options exercised for cash 30,000 83,000
Net cash provided by financing activities 2,053,000 1,924,000
Net decrease in cash and cash equivalents (146,000) (143,000)
Cash and cash equivalents, beginning of year 462,000 605,000
Cash and cash equivalents, end of year 316,000 462,000
Supplemental Cash Flow information:    
Accrued mineral property acquisition costs included in accounts payable 0 60,000
Acquisition of right to use asset $ 0 $ 99,000