Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

v3.23.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Assets    
Property and equipment, net of accumulated depreciation of $52,908,191 and $37,022,035, respectively (Crimson VIE*, net of depreciation: $340,205,058 and $338,452,392, respectively) $ 440,148,967 $ 441,430,193
Leased property, net of accumulated depreciation of $299,463 and $258,207, respectively 1,226,565 1,267,821
Financing notes and related accrued interest receivable, net of reserve of $600,000 and $600,000, respectively 858,079 1,036,660
Cash and cash equivalents (Crimson VIE: $1,874,319 and $2,825,902, respectively) 17,830,482 11,540,576
Accounts and other receivables (Crimson VIE: $10,343,769 and $11,291,749, respectively) 14,164,525 15,367,389
Due from affiliated companies (Crimson VIE: $167,743 and $676,825, respectively) 167,743 676,825
Deferred costs, net of accumulated amortization of $726,619 and $345,775, respectively 415,727 796,572
Inventory (Crimson VIE: $5,804,776 and $3,839,865, respectively) 5,950,051 3,953,523
Prepaid expenses and other assets (Crimson VIE: $3,414,372 and $5,004,566, respectively) 9,478,146 9,075,043
Operating right-of-use assets (Crimson VIE: $5,647,631) 4,722,361 6,075,939
Deferred tax asset, net 0 206,285
Goodwill 0 16,210,020
Total Assets 494,962,646 507,636,846
Liabilities and Equity    
Secured credit facilities, net of debt issuance costs of $665,547 and $1,275,244, respectively 100,334,453 99,724,756
Unsecured convertible senior notes, net of discount and debt issuance costs of $1,726,470 and $2,384,170, respectively 116,323,530 115,665,830
Asset retirement obligation 0 0
Accounts payable and other accrued liabilities (Crimson VIE: $16,889,980 and $10,699,806, respectively) 26,316,216 16,080,162
Income tax liability 174,849 0
Due to affiliated companies (Crimson VIE: $209,750 and $648,316, respectively) 209,750 648,316
Operating lease liability (Crimson VIE: $4,454,196 and $5,647,036, respectively) 4,696,410 6,046,657
Deferred tax liability, net 1,292,300 0
Unearned revenue (Crimson VIE: $203,725 and $199,405, respectively) 5,948,621 5,839,602
Total Liabilities 255,296,129 244,005,323
Commitments and Contingencies (Note 12)
Equity    
Additional paid-in capital 327,016,573 338,302,735
Retained deficit (333,785,097) (321,028,580)
Total CorEnergy Equity 122,773,089 146,815,407
Non-controlling interest 116,893,428 116,816,116
Total Equity 239,666,517 263,631,523
Total Liabilities and Equity 494,962,646 507,636,846
Series A Cumulative Redeemable Preferred Stock    
Equity    
Series A Cumulative Redeemable Preferred Stock 7.375%, $129,525,675 liquidation preference ($2,500 per share, $0.001 par value), 69,367,000 authorized; 51,810 issued and outstanding at December 31, 2022 and December 31, 2021 129,525,675 129,525,675
Non-Convertible Common Stock    
Equity    
Common stock 15,254 14,893
Common Class B    
Equity    
Common stock $ 684 $ 684