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Liquidity and Capital Resources As of December 31, 2015, our aggregate cash, short term investments, and long term investments totaled $1.2 million compared to $3.9 million at December 31, 2014. The net cash used in operating activities during 2015 was $4.3 million compared with $5.6 million utilized in operating activities in 2014. Operating activities for both years consisted primarily of permitting, environmental and engineering expenses for the Montanore Project, general and administrative expenses, legal, accounting, and consulting expenses. Net cash flows utilized by financing activities consisted of $0.2 million paid in cumulative preferred stock dividends during 2015 compared to an insignificant amount paid during 2014. Net cash flows provided by financing activities included proceeds of $3.5 million from the sale of preferred stock and $0.2 million in proceeds from stock options exercised during 2014 compared to $0 in 2015. Net cash provided by investing activities during 2015 was primarily proceeds from the sale of equipment in the amount of $1.8 million.
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