Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v3.22.1
Consolidated Statements of Operations - USD ($)
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Revenue    
Lease $ 34,225 $ 474,475
Total Revenue 32,872,351 23,040,498
Expenses    
General and administrative 5,142,865 9,836,793
Depreciation, amortization and ARO accretion 3,976,667 2,898,330
Loss on impairment and disposal of leased property 0 5,811,779
Loss on termination of lease 0 165,644
Total Expenses 25,258,024 30,003,999
Operating Income (loss) 7,614,327 (6,963,501)
Other Income (expense)    
Other income 120,542 63,526
Interest expense (3,146,855) (2,931,007)
Loss on extinguishment of debt 0 (861,814)
Total Other Expense (3,026,313) (3,729,295)
Income (Loss) before income taxes 4,588,014 (10,692,796)
Taxes    
Current tax expense 151,044 27,867
Deferred tax expense (benefit) 72,213 (26,400)
Income tax expense, net 223,257 1,467
Net Income (loss) 4,364,757 (10,694,263)
Less: Net income attributable to non-controlling interest 2,060,294 1,605,308
Net income (loss) attributable to CorEnergy 2,304,463 (12,299,571)
Preferred stock dividends 2,388,130 2,309,672
Net loss attributable to Common Stockholders $ (83,667) $ (14,609,243)
Net Loss Per Common Share:    
Basic (in dollars per share) $ (0.01) $ (1.07)
Diluted (in dollars per share) $ (0.01) $ (1.07)
Weighted Average Shares of Common Stock Outstanding:    
Basic (in shares) 15,600,926 13,651,521
Diluted (in shares) 15,600,926 13,651,521
Dividends declared per share (in dollars per share) $ 0.050 $ 0.050
Transportation and distribution    
Revenue    
Revenue from contracts with customers $ 29,761,354 $ 21,295,139
Expenses    
Cost of revenue 13,945,843 10,342,597
Pipeline loss allowance subsequent sales    
Revenue    
Revenue from contracts with customers 2,731,763 1,075,722
Expenses    
Cost of revenue 2,192,649 948,856
Other    
Revenue    
Revenue from contracts with customers $ 345,009 $ 195,162