Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF EQUITY

v3.22.0.1
CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
Total
Common Class B
Series A, Internalization
Common Stock, Internalization
Class B Common Stock, Internalization
Capital Stock
Capital Stock
Common Stock, Internalization
Class B Common Stock
Common Class B
Class B Common Stock
Class B Common Stock, Internalization
Preferred Stock
Preferred Stock
Series A, Internalization
Additional Paid-in Capital
Additional Paid-in Capital
Series A, Internalization
Additional Paid-in Capital
Common Stock, Internalization
Additional Paid-in Capital
Class B Common Stock, Internalization
Retained Earnings (Deficit)
Non-Controlling Interest
Beginning balance (in shares) at Dec. 31, 2018 [1]           11,960,225   0                  
Beginning balance at Dec. 31, 2018 [1] $ 455,011,305         $ 11,960   $ 0   $ 125,555,675   $ 320,295,969       $ 9,147,701 $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                  
Net income 4,079,495                             4,079,495 0
Series A preferred stock dividends (9,255,121)                     (4,627,561)       (4,627,560)  
Preferred stock repurchases [2] (60,550)                 (62,500)   2,195       (245)  
Common Stock dividends (39,504,487)                     (21,293,224)       (18,211,263)  
Common stock issued upon exchange of convertible notes (in shares)           1,540,472                      
Common Stock issued upon exchange of convertible notes 61,871,302         $ 1,540           61,869,762          
Common stock issued upon conversion of convertible notes (in shares)           127,143                      
Common Stock issued upon conversion of convertible notes 4,193,664         $ 128           4,193,536          
Reinvestment of dividends paid to common stockholders (in shares)           11,076                      
Reinvestment of dividends paid to common stockholders 403,831         $ 11           403,820          
Crimson A-2 Units dividends payment in kind 0                                
Common stock issued due to internalization transaction     $ 0 $ 0 $ 0                        
Ending balance (in shares) at Dec. 31, 2019           13,638,916   0                  
Ending balance at Dec. 31, 2019 476,739,439         $ 13,639   $ 0   125,493,175   360,844,497       (9,611,872) 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                  
Net income (306,067,579)                             (306,067,579)  
Series A preferred stock dividends (9,242,797)                     (9,242,797)          
Preferred stock repurchases [3] (161,997)                 (222,825)   7,932       52,896  
Common Stock dividends (12,286,368)                     (12,286,368)          
Common stock issued upon exchange of convertible notes (in shares)           12,605                      
Common Stock issued upon exchange of convertible notes 419,129         $ 13           419,116          
Crimson A-2 Units dividends payment in kind 0                                
Common stock issued due to internalization transaction     0 0 0                        
Ending balance (in shares) at Dec. 31, 2020   0       13,651,521   0                  
Ending balance at Dec. 31, 2020 149,399,827         $ 13,652   $ 0   125,270,350   339,742,380       (315,626,555) 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                  
Net income (2,535,558)                             (11,531,081) 8,995,523
Equity attributable to non-controlling interest 116,816,115                               116,816,115
Series A preferred stock dividends (9,395,604)                     (9,395,604)          
Common Stock dividends (2,850,026)                     (2,850,026)          
Reinvestment of dividends paid to common stockholders (in shares)           84,418                      
Reinvestment of dividends paid to common stockholders 410,580         $ 84           410,496          
Common stock issued under director's compensation plan (in shares)           3,399                      
Common stock issued under director's compensation plan 22,500         $ 3           22,497          
Crimson cash distribution on A-1 Units (2,256,113)                               (2,256,113)
Crimson A-2 Units dividends payment in kind (610,353)                               (610,353)
Stock issued, internalization transaction (in shares)             1,153,846   683,761                
Common stock issued due to internalization transaction     $ 4,245,112 $ 7,096,153 $ 3,288,890   $ 1,154   $ 684   $ 4,255,325   $ (10,213) $ 7,094,999 $ 3,288,206    
Ending balance (in shares) at Dec. 31, 2021   683,761       14,893,184   683,761                  
Ending balance at Dec. 31, 2021 $ 263,631,523         $ 14,893   $ 684   $ 129,525,675   $ 338,302,735       $ (327,157,636) $ 122,945,172
[1] The retained earnings balance at December 31, 2018 was generated due to the timing of quarterly dividends and quarterly net income. In the fourth quarter of 2018, net income was greater than dividends due to the gain on sale of leased property, net from the sale of the Portland Terminal Facility resulting in a retained earnings balance as of December 31, 2018.
[2] In connection with the repurchases of Series A Preferred Stock during 2019, the addition to preferred dividends of $245 represents the premium in the repurchase price paid compared to the carrying amount derecognized.
[3] In connection with the repurchases of Series A Preferred Stock during 2020, the deduction to preferred dividends of $52,896 represents the discount in the repurchase price paid compared to the carrying amount derecognized.