Annual report pursuant to Section 13 and 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2020
Dec. 31, 2019
CURRENT ASSETS    
Cash and cash equivalents $ 3,370,519 $ 457,331
Accounts receivable 143,823
Restricted cash 12,943,222
Inventory 846,197 22,942
Investment in farming activities 404,258
Prepaid expenses and other current assets 5,027,294
Total Current Assets 22,735,313 480,273
RESTRICTED CASH, net of current portion 22,668,984
DEBT ISSUANCE COSTS 840,211 500,000
RIGHT-OF-USE ASSET 51,611 82,450
INTANGIBLE ASSETS, NET 4,180,746 2,501,592
LONG TERM DEPOSITS 628,382 3,253,253
PROPERTY, PLANT AND EQUIPMENT, NET 138,972,675 2,588,441
ADVANCES TO CONTRACTORS 16,000,000
TOTAL ASSETS 206,077,922 9,406,009
CURRENT LIABILITIES    
Accounts payable and accrued liabilities 22,597,951 5,568,128
Lease liabilities 52,653 82,882
Notes payable including current portion of long-term debt, net 4,198,113 1,369,856
Convertible notes payable 1,697,000 1,697,000
Derivative Liability 24,767,000
Total Current Liabilities 28,545,717 33,484,866
LONG-TERM LIABILITIES    
Mandatorily redeemable equity instruments of subsidiary 5,123,000
Long-term debt, net 16,155,138
Long-term debt, net (credit facility) 146,769,225
Asset retirement obligations, net of current portion 17,762,977
Environmental liabilities, net of current portion 20,455,938
TOTAL LIABILITIES 234,811,995 33,484,866
STOCKHOLDERS' DEFICIT    
Preferred stock - $0.001 par value; 50,000,000 shares authorized Series B, convertible; 13,000 shares issued and outstanding (aggregate liquidation preference of $1,300,000) 13 13
Common stock, $0.001 par value; 500,000,000 shares authorized; 35,850,089 and 34,402,943 shares issued and outstanding, respectively 358,499 344,029
Additional paid-in capital 37,139,854 31,259,365
Accumulated deficit (66,232,439) (55,682,264)
Total Stockholders' Deficit (28,734,073) (24,078,857)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 206,077,922 $ 9,406,009