v3.21.1
Consolidated Statements of Operations - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenue    
Lease revenue $ 474,475 $ 15,746,504
Deferred rent receivable write-off 0 (30,105,820)
Total Revenue (Loss) 23,040,498 (9,132,509)
Expenses    
General and administrative 9,836,793 3,076,143
Depreciation, amortization and ARO accretion expense 2,898,330 5,647,067
Loss on impairment of leased property 0 140,268,379
Loss on impairment and disposal of leased property 5,811,779 0
Loss on termination of lease 165,644 0
Total Expenses 30,003,999 150,366,818
Operating Loss (6,963,501) (159,499,327)
Other Income (Expense)    
Other income 63,526 317,820
Interest expense (2,931,007) (2,885,583)
Loss on extinguishment of debt (861,814) 0
Total Other Expense (3,729,295) (2,567,763)
Loss before income taxes (10,692,796) (162,067,090)
Taxes    
Current tax expense (benefit) 27,867 (394,643)
Deferred tax expense (benefit) (26,400) 369,921
Income tax expense (benefit), net 1,467 (24,722)
Net loss (10,694,263) (162,042,368)
Less: Net income attributable to non-controlling interest 1,605,308 0
Net loss attributable to CorEnergy Stockholders (12,299,571) (162,042,368)
Preferred dividend requirements 2,309,672 2,260,793
Net loss attributable to Common Stockholders $ (14,609,243) $ (164,303,161)
Loss Per Common Share:    
Basic (in dollars per share) $ (1.07) $ (12.04)
Diluted (in dollars per share) $ (1.07) $ (12.04)
Weighted Average Shares of Common Stock Outstanding:    
Basic (in shares) 13,651,521 13,648,293
Diluted (in shares) 13,651,521 13,648,293
Dividends declared per share (in dollars per share) $ 0.050 $ 0.750
Transportation and distribution revenue    
Revenue    
Revenue from contracts with customers $ 21,295,139 $ 5,200,500
Expenses    
Cost of revenue 10,342,597 1,375,229
Pipeline loss allowance subsequent sales    
Revenue    
Revenue from contracts with customers 1,075,722 0
Expenses    
Cost of revenue 948,856 0
Other revenue    
Revenue    
Revenue from contracts with customers $ 195,162 $ 26,307

Source