v3.21.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2021
Dec. 31, 2020
Assets    
Property and equipment, net of accumulated depreciation of $25,260,543 and $22,580,810 (Crimson VIE: $335,865,029, and $0, respectively) $ 441,213,095 $ 106,224,598
Leased property, net of accumulated depreciation of $227,265 and $6,832,167 1,298,763 64,938,010
Financing notes and related accrued interest receivable, net of reserve of $600,000 and $600,000 1,183,950 1,209,736
Cash and cash equivalents (Crimson VIE: $631,776 and $0, respectively) 18,839,994 99,596,907
Accounts and other receivables (Crimson VIE: $10,828,844 and $0, respectively) 15,275,036 3,675,977
Due from affiliated companies (Crimson VIE: $827,264 and $0, respectively) 827,264 0
Deferred costs, net of accumulated amortization of $60,142 and $2,130,334 1,082,205 1,077,883
Inventory (Crimson VIE: $1,690,158 and $0, respectively) 1,795,688 87,940
Prepaid expenses and other assets (Crimson VIE: $6,313,679 and $0, respectively) 8,424,488 2,054,804
Operating right-of-use assets (Crimson VIE: $6,097,344 and $0, respectively) 6,175,414 85,879
Deferred tax asset, net 4,308,976 4,282,576
Goodwill 1,718,868 1,718,868
Total Assets 502,143,741 284,953,178
Liabilities and Equity    
Secured credit facilities, net of debt issuance costs of $1,732,515 and $0 103,267,485 0
Unsecured convertible senior notes, net of discount and debt issuance costs of $2,877,445 and $3,041,870 115,172,555 115,008,130
Asset retirement obligation 0 8,762,579
Accounts payable and other accrued liabilities (Crimson VIE: $14,225,232 and $0, respectively) 17,910,708 4,628,847
Management fees payable 608,246 971,626
Due to affiliated companies (Crimson VIE: $1,637,540 and $0, respectively) 2,053,170 0
Operating lease liability (Crimson VIE: $5,752,045 and $0, respectively) 5,800,866 56,441
Unearned revenue (Crimson VIE $315,000 and $0, respectively) 6,294,359 6,125,728
Total Liabilities 251,107,389 135,553,351
Commitments and Contingencies (Note 10)
Equity    
Series A Cumulative Redeemable Preferred Stock 7.375%, $125,270,350 and $125,270,350 liquidation preference ($2,500 per share, $0.001 par value), 10,000,000 authorized; 50,108 and 50,108 issued and outstanding at March 31, 2021 and December 31, 2020, respectively 125,270,350 125,270,350
Common stock, non-convertible, $0.001 par value; 13,651,521 and 13,651,521 shares issued and outstanding at March 31, 2021 and December 31, 2020 (100,000,000 shares authorized) 13,652 13,652
Additional paid-in capital 336,750,132 339,742,380
Retained deficit (327,926,126) (315,626,555)
Total CorEnergy Equity 134,108,008 149,399,827
Non-controlling interest (Crimson) 116,928,344 0
Total Equity 251,036,352 149,399,827
Total Liabilities and Equity 502,143,741 284,953,178
Variable Interest Entity, Primary Beneficiary    
Assets    
Property and equipment, net of accumulated depreciation of $25,260,543 and $22,580,810 (Crimson VIE: $335,865,029, and $0, respectively) 335,865,029 0
Cash and cash equivalents (Crimson VIE: $631,776 and $0, respectively) 631,776 0
Accounts and other receivables (Crimson VIE: $10,828,844 and $0, respectively) 10,828,844 0
Due from affiliated companies (Crimson VIE: $827,264 and $0, respectively) 827,264 0
Inventory (Crimson VIE: $1,690,158 and $0, respectively) 1,690,158 0
Prepaid expenses and other assets (Crimson VIE: $6,313,679 and $0, respectively) 6,313,679 0
Operating right-of-use assets (Crimson VIE: $6,097,344 and $0, respectively) 6,097,344 0
Liabilities and Equity    
Accounts payable and other accrued liabilities (Crimson VIE: $14,225,232 and $0, respectively) 14,225,232 0
Due to affiliated companies (Crimson VIE: $1,637,540 and $0, respectively) 1,637,540 0
Operating lease liability (Crimson VIE: $5,752,045 and $0, respectively) 5,752,045 0
Unearned revenue (Crimson VIE $315,000 and $0, respectively) $ 315,000 $ 0

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