Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenue      
Lease revenue $ 1,246,090 $ 21,351,123 $ 67,050,506
Deferred rent receivable write-off 0 (30,105,820) 0
Total Revenue 128,133,796 11,338,071 85,945,570
Expenses      
General and administrative 26,641,161 12,231,922 10,596,848
Depreciation, amortization and ARO accretion expense 14,801,676 13,654,429 22,581,942
Loss on impairment of leased property 0 140,268,379 0
Loss on impairment and disposal of leased property 5,811,779 146,537,547 0
Loss on termination of lease 165,644 458,297 0
Total Expenses 113,760,306 319,210,281 38,421,034
Operating Income (Loss) 14,373,490 (307,872,210) 47,524,536
Other Income (Expense)      
Other income 769,682 471,449 1,328,853
Interest expense (12,742,157) (10,301,644) (10,578,711)
Gain (loss) on extinguishment of debt (861,814) 11,549,968 (33,960,565)
Total Other Income (Expense) (12,834,289) 1,719,773 (43,210,423)
Income (loss) before income taxes 1,539,201 (306,152,437) 4,314,113
Taxes      
Current tax expense (benefit) (1,531) (395,843) (120,024)
Deferred tax expense 4,076,290 310,985 354,642
Income tax expense (benefit), net 4,074,759 (84,858) 234,618
Net income (2,535,558) (306,067,579) 4,079,495
Less: Net Income attributable to non-controlling interest 8,995,523 0 0
Net Loss attributable to CorEnergy Stockholders (11,531,081) (306,067,579) 4,079,495
Preferred dividend requirements 9,395,604 9,189,809 9,255,468
Net Loss attributable to Common Stockholders $ (20,926,685) $ (315,257,388) $ (5,175,973)
Loss Per Common Share:      
Basic (in dollars per share) $ (1.44) $ (23.09) $ (0.40)
Diluted (in dollars per share) $ (1.44) $ (23.09) $ (0.40)
Weighted Average Shares of Common Stock Outstanding:      
Basic (in shares) 14,581,850 13,650,718 13,041,613
Diluted (in shares) 14,581,850 13,650,718 13,041,613
Dividends declared per share (in dollars per share) $ 0.200 $ 0.900 $ 3.000
Transportation and distribution revenue      
Revenue      
Revenue from contracts with customers $ 116,536,612 $ 19,972,351 $ 18,778,237
Expenses      
Cost of revenue 58,146,006 6,059,707 5,242,244
Pipeline loss allowance subsequent sales      
Revenue      
Revenue from contracts with customers 8,606,850 0 0
Expenses      
Cost of revenue 8,194,040 0 0
Other revenue      
Revenue      
Revenue from contracts with customers $ 1,744,244 $ 120,417 $ 116,827