Midwest Energy Emissions Corp
For the period ended Dec 31, 2023. Filed Apr 16, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Apr 16, 2024
BCHT$1.10-3.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| For the year Ended December 31, 2023 · For the year Ended December 31, 2022 | ||||
|---|---|---|---|---|
| Cash flows from operating activities | ||||
| Net income (loss) | $5,904,013 | $(1,581,476) | ||
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||
| Stock-based compensation – amortization of prepaid services | 486,667 | 263,646 | ||
| Stock-based compensation | 33,782 | 408,034 | ||
| Amortization of discount of notes payable | 1,336,171 | 1,438,615 | ||
| Amortization of debt issuance costs | - | 79,188 | ||
| Amortization of right to use assets | 40,924 | 338,535 | ||
| Amortization of patent rights | 205,534 | 204,600 | ||
| Depreciation expense | 12,927 | 11,679 | ||
| Impairment loss | 219,707 | - | ||
| Loss on change in fair value of profit share | 11,209,677 | 801,517 | ||
| Changes in operating assets and liabilities | ||||
| Accounts receivable | 544,396 | (1,762,554) | ||
| Inventory | 195,967 | 84,270 | ||
| Prepaid expenses and other assets | 88,772 | (59,030) | ||
| Accrued salaries | (58,542) | (494,952) | ||
| Accounts payable and accrued liabilities | (950,564) | 679,124 | ||
| Operating lease liability | (43,394) | (340,207) | ||
| Net cash provided by operating activities | 19,226,037 | 70,989 | ||
| Cash flows from investing activities | ||||
| Purchase of property and equipment | - | (10,727) | ||
| Net cash used in investing activities | - | (10,727) | ||
| Cash flows from financing activities | ||||
| Proceeds from exercise of stock options | 209,500 | 58,333 | ||
| Payments of equipment notes payable | - | (2,677) | ||
| Net cash provided by financing activities | 209,500 | 55,656 | ||
| Net increase in cash and cash equivalents | 19,435,537 | 115,918 | ||
| Cash and cash equivalents - beginning of period | 1,504,225 | 1,388,307 | ||
| Cash and cash equivalents - end of period | $20,939,762 | $1,504,225 | ||
| SUPPLEMENTAL CASH FLOW INFORMATION: | ||||
| Cash paid during the period for: | ||||
| Interest | $19,721 | $52,643 | ||
| Income taxes | $ | - | $ | - |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH TRANSACTIONS | ||||
| Common stock issued for prepaid services | $ | - | $53,333 | |
| Common stock issued for consulting services | $ | - | $106,667 | |
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