Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 11,151,387 $ 1,731,364
Accounts receivable 2,720,830 2,865,707
Inventory 2,123,477 2,047,163
Prepaids 3,068,063 1,918,875
Other assets 42,710 31,664
Total current assets 19,106,467 8,594,773
Property, plant and equipment, net 40,583,977 38,382,391
Other non-current assets 488,633 325,756
Total assets 60,179,077 47,302,920
Current liabilities:    
Accounts payable 3,320,398 2,453,551
Accrued expenses 3,365,128 4,503,180
Short-term notes payable 170,167 2,000,000
Current portion of capital lease payable 817,111 789,166
Total current liabilities 7,672,804 9,745,897
Non-current liabilities:    
Long-term notes payable 40,802,640 21,737,404
Long-term capital lease payable 569,169 766,687
Total non-current liabilities 41,371,809 22,504,091
Stockholders’ equity    
Preferred stock, $0.001 par value, 50,000,000 shares authorized, none issued
Common stock, $0.001 par value, 200,000,000 shares authorized, 15,049,690 issued and 15,027,840 outstanding at March 31, 2017 and 14,485,937 issued and 14,464,087 outstanding at December 31, 2016 15,049 14,485
Additional paid-in capital 60,666,498 59,556,505
Treasury stock, at cost; 21,850 common shares at March 31,2017 and at December 31, 2016 (57,469) (57,469)
Accumulated deficit (49,489,614) (44,460,589)
Total stockholders’ equity 11,134,464 15,052,932
Total liabilities and stockholders’ equity $ 60,179,077 $ 47,302,920