Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

v3.22.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Assets    
Property and equipment, net of accumulated depreciation of $37,022,035 and $22,580,810 (Crimson VIE: $338,452,392 and $0, respectively) $ 441,430,193 $ 106,224,598
Leased property, net of accumulated depreciation of $258,207 and $6,832,167 1,267,821 64,938,010
Financing notes and related accrued interest receivable, net of reserve of $600,000 and $600,000 1,036,660 1,209,736
Cash and cash equivalents (Crimson VIE: $1,870,000 and $0, respectively) 12,496,478 99,596,907
Accounts and other receivables (Crimson VIE: $11,291,749 and $0, respectively) 15,367,389 3,675,977
Due from affiliated companies (Crimson VIE: $676,825 and $0, respectively) 676,825 0
Deferred costs, net of accumulated amortization of $345,775 and $2,130,334 796,572 1,077,883
Inventory (Crimson VIE: $3,839,865 and $0, respectively) 3,953,523 87,940
Prepaid expenses and other assets (Crimson VIE: $5,004,566 and $0, respectively) 9,075,043 2,054,804
Operating right-of-use assets (Crimson VIE: $5,647,631 and $0, respectively) 6,075,939 85,879
Deferred tax asset, net 206,285 4,282,576
Goodwill 16,210,020 1,718,868
Total Assets 508,592,748 284,953,178
Liabilities and Equity    
Secured credit facilities, net of debt issuance costs of $1,275,244 and $0 99,724,756 0
Unsecured convertible senior notes, net of discount and debt issuance costs of $2,384,170 and $3,041,870 115,665,830 115,008,130
Asset retirement obligation 0 8,762,579
Accounts payable and other accrued liabilities (Crimson VIE: $9,743,904 and $0, respectively) 17,036,064 4,628,847
Management fees payable 0 971,626
Due to affiliated companies (Crimson VIE: $648,316 and $0, respectively) 648,316 0
Operating lease liability (Crimson VIE: $5,647,036 and $0, respectively) 6,046,657 56,441
Unearned revenue (Crimson VIE: $199,405 and $0, respectively) 5,839,602 6,125,728
Total Liabilities 244,961,225 135,553,351
Commitments and Contingencies (Note 12)
Equity    
Additional paid-in capital 338,302,735 339,742,380
Retained deficit (327,157,636) (315,626,555)
Total CorEnergy Equity 140,686,351 149,399,827
Non-controlling Interest (Crimson) 122,945,172 0
Total Equity 263,631,523 149,399,827
Total Liabilities and Equity 508,592,748 284,953,178
Series A Cumulative Redeemable Preferred Stock    
Equity    
Series A Cumulative Redeemable Preferred Stock 7.375%, $129,525,675 and $125,270,350 liquidation preference ($2,500 per share, $0.001 par value), 10,000,000 authorized; 51,810 and 50,108 issued and outstanding at December 31, 2021 and December 31, 2020, respectively 129,525,675 125,270,350
Non-Convertible Common Stock    
Equity    
Common stock 14,893 13,652
Common Class B    
Equity    
Common stock $ 684 $ 0