Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF EQUITY

v3.23.1
CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
Total
Common Class B
Series A, Internalization
Common Stock, Internalization
Class B Common Stock, Internalization
Common Stock
Common Stock
Common Stock, Internalization
Common Stock
Common Stock
Common 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 Deficit
Non-Controlling Interest
Beginning balance (in shares) at Dec. 31, 2019           13,638,916     0                  
Beginning 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 (loss) (306,067,579)                               (306,067,579)  
Series A preferred stock dividends (9,242,797)                       (9,242,797)          
Preferred stock repurchases (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 Class A-2 Units dividends payment in kind 0                                  
Stock issued due to internalized transaction     $ 0 $ 0 $ 0                          
Ending balance (in shares) at Dec. 31, 2020           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 (loss) (10,694,263)                               (10,694,263)  
Equity attributable to non-controlling interest 115,323,036                                 115,323,036
Series A preferred stock dividends (2,309,672)                       (2,309,672)          
Common Stock dividends $ (682,576)                       (682,576)          
Ending balance (in shares) at Mar. 31, 2021 13,651,521         13,651,521     0                  
Ending balance at Mar. 31, 2021 $ 251,036,352         $ 13,652     $ 0   125,270,350   336,750,132       (326,320,818) 115,323,036
Beginning balance (in shares) at Dec. 31, 2020           13,651,521     0                  
Beginning 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 (loss) (8,266,854)                                  
Crimson Class A-2 Units dividends payment in kind (406,000)                                  
Ending balance (in shares) at Jun. 30, 2021           13,673,326     0                  
Ending balance at Jun. 30, 2021 250,882,083         $ 13,673     $ 0   125,270,350   333,890,657       (324,904,359) 116,611,762
Beginning balance (in shares) at Dec. 31, 2020           13,651,521     0                  
Beginning 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 (loss) (2,346,883)                                  
Crimson Class A-2 Units dividends payment in kind (610,353)                                  
Stock issued due to internalized transaction     4,245,112 7,096,153 3,288,890                          
Ending balance (in shares) at Sep. 30, 2021   683,761       14,866,799     683,761                  
Ending balance at Sep. 30, 2021 267,657,718         $ 14,866     $ 684   129,525,675   341,331,070       (320,030,693) 116,816,116
Beginning balance (in shares) at Dec. 31, 2020           13,651,521     0                  
Beginning 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 (loss) (2,535,558)                               (5,402,025) 2,866,467
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 distribution on Class A-1 Units (2,256,113)                                 (2,256,113)
Crimson Class A-2 Units dividends payment in kind (610,353)                                 (610,353)
Stock issued, internalization transaction (in shares)             1,153,846     683,761                
Stock issued due to internalized 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   14,893,184 683,761                  
Ending balance at Dec. 31, 2021 $ 263,631,523         $ 14,893   $ 14,893 $ 684   129,525,675   338,302,735       (321,028,580) 116,816,116
Beginning balance (in shares) at Mar. 31, 2021 13,651,521         13,651,521     0                  
Beginning balance at Mar. 31, 2021 $ 251,036,352         $ 13,652     $ 0   125,270,350   336,750,132       (326,320,818) 115,323,036
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Net income (loss) 2,427,409                               1,416,458 1,010,951
Equity attributable to non-controlling interest 1,288,726                                 1,288,726
Series A preferred stock dividends (2,309,672)                       (2,309,672)          
Common Stock dividends (682,576)                       (682,576)          
Reinvestment of dividends paid to common stockholders (in shares)           21,805                        
Reinvestment of dividends paid to common stockholders 132,795         $ 21             132,774          
Crimson distribution on Class A-1 Units (604,951)                                 (604,951)
Crimson Class A-2 Units dividends payment in kind (406,000)                                 (406,000)
Ending balance (in shares) at Jun. 30, 2021           13,673,326     0                  
Ending balance at Jun. 30, 2021 250,882,083         $ 13,673     $ 0   125,270,350   333,890,657       (324,904,359) 116,611,762
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Net income (loss) 5,919,971                               4,873,667 1,046,304
Equity attributable to non-controlling interest 204,353                                 204,353
Series A preferred stock dividends (2,388,130)                       (2,388,130)          
Common Stock dividends (741,530)                       (741,530)          
Reinvestment of dividends paid to common stockholders (in shares)           36,228                        
Reinvestment of dividends paid to common stockholders 174,619         $ 36             174,583          
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 distribution on Class A-1 Units (841,950)                                 (841,950)
Crimson Class A-2 Units dividends payment in kind (204,353)                                 (204,353)
Stock issued, internalization transaction (in shares)             1,153,846     683,761                
Stock issued due to internalized 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 Sep. 30, 2021   683,761       14,866,799     683,761                  
Ending balance at Sep. 30, 2021 267,657,718         $ 14,866     $ 684   129,525,675   341,331,070       (320,030,693) 116,816,116
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Net income (loss) (188,675)                                  
Ending balance (in shares) at Dec. 31, 2021   683,761       14,893,184   14,893,184 683,761                  
Ending balance at Dec. 31, 2021 263,631,523         $ 14,893   $ 14,893 $ 684   129,525,675   338,302,735       (321,028,580) 116,816,116
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Net income (loss) 4,364,757                               3,555,545 809,212
Series A preferred stock dividends (2,388,130)                       (2,388,130)          
Reinvestment of dividends paid to common stockholders (in shares)           67,444                        
Reinvestment of dividends paid to common stockholders 207,053         $ 67             206,986          
Crimson distribution on Class A-1 Units (809,212)                                 (809,212)
Ending balance (in shares) at Mar. 31, 2022   683,761       14,960,628     683,761                  
Ending balance at Mar. 31, 2022 264,261,332         $ 14,960     $ 684       335,376,932       (317,473,035) 116,816,116
Beginning balance (in shares) at Dec. 31, 2021   683,761       14,893,184   14,893,184 683,761                  
Beginning balance at Dec. 31, 2021 263,631,523         $ 14,893   $ 14,893 $ 684   129,525,675   338,302,735       (321,028,580) 116,816,116
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Net income (loss) 6,534,883                               4,916,459 1,618,424
Series A preferred stock dividends     (4,776,260)                     $ (4,776,260)        
Common Stock dividends (1,492,690)                       (1,492,690)          
Reinvestment of dividends paid to common stockholders (in shares)           136,756                        
Reinvestment of dividends paid to common stockholders 403,204         $ 136             403,068          
Common stock issued under director's compensation plan (in shares)           30,917                        
Crimson distribution on Class A-1 Units (1,618,424)                                 (1,618,424)
Stock-based compensation 151,359         $ 31             151,328          
Ending balance (in shares) at Jun. 30, 2022   683,761       15,060,857   15,060,857 683,761                  
Ending balance at Jun. 30, 2022 262,833,595         $ 15,060   $ 15,060 $ 684   129,525,675   332,588,181       (316,112,121) 116,816,116
Beginning balance (in shares) at Dec. 31, 2021   683,761       14,893,184   14,893,184 683,761                  
Beginning balance at Dec. 31, 2021 263,631,523         $ 14,893   $ 14,893 $ 684   129,525,675   338,302,735       (321,028,580) 116,816,116
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Net income (loss) (8,966,821)                               (11,394,457) 2,427,636
Series A preferred stock dividends (7,164,390)                       (7,164,390)          
Reinvestment of dividends paid to common stockholders (in shares)               221,362                    
Reinvestment of dividends paid to common stockholders 601,184             $ 221         600,963          
Common Stock, accrued dividend equivalent (34,145)                       (34,145)          
Common stock issued under director's compensation plan (in shares)               62,365                    
Crimson distribution on Class A-1 Units (2,427,636)                                 (2,427,636)
Stock-based compensation 384,383             $ 63         336,619         47,701
Ending balance (in shares) at Sep. 30, 2022   683,761           15,176,911 683,761                  
Ending balance at Sep. 30, 2022 243,778,365             $ 15,177 $ 684   129,525,675   329,796,049       (332,423,037) 116,863,817
Beginning balance (in shares) at Dec. 31, 2021   683,761       14,893,184   14,893,184 683,761                  
Beginning balance at Dec. 31, 2021 263,631,523         $ 14,893   $ 14,893 $ 684   129,525,675   338,302,735       (321,028,580) 116,816,116
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Net income (loss) (9,519,669)                               (12,756,517) 3,236,848
Series A preferred stock dividends (9,552,519)                       (9,552,519)          
Common Stock dividends (3,004,579)                       (3,004,579)          
Reinvestment of dividends paid to common stockholders (in shares)           279,957                        
Reinvestment of dividends paid to common stockholders 803,923         $ 280             803,643          
Common Stock, accrued dividend equivalent (67,431)                       (67,431)          
Common stock issued under director's compensation plan (in shares)           80,817                        
Crimson distribution on Class A-1 Units (3,236,848)                                 (3,236,848)
Stock-based compensation 612,117         $ 81             534,724         77,312
Crimson Class A-2 Units dividends payment in kind 0                                  
Stock issued due to internalized transaction     $ 0 $ 0 $ 0                          
Ending balance (in shares) at Dec. 31, 2022   683,761       15,253,958     683,761                  
Ending balance at Dec. 31, 2022 239,666,517         $ 15,254     $ 684   129,525,675   327,016,573       (333,785,097) 116,893,428
Beginning balance (in shares) at Mar. 31, 2022   683,761       14,960,628     683,761                  
Beginning balance at Mar. 31, 2022 264,261,332         $ 14,960     $ 684       335,376,932       (317,473,035) 116,816,116
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Net income (loss) 2,170,126                               1,360,914 809,212
Series A preferred stock dividends (2,388,130)                       (2,388,130)          
Reinvestment of dividends paid to common stockholders (in shares)           69,312                        
Reinvestment of dividends paid to common stockholders 196,151         $ 69             196,082          
Common stock issued under director's compensation plan (in shares)           30,917                        
Crimson distribution on Class A-1 Units (809,212)                                 (809,212)
Stock-based compensation 151,359         $ 31             151,328          
Ending balance (in shares) at Jun. 30, 2022   683,761       15,060,857   15,060,857 683,761                  
Ending balance at Jun. 30, 2022 262,833,595         $ 15,060   $ 15,060 $ 684   129,525,675   332,588,181       (316,112,121) 116,816,116
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Net income (loss) (15,501,704)                               (16,310,916) 809,212
Series A preferred stock dividends (2,388,130)                       (2,388,130)          
Reinvestment of dividends paid to common stockholders (in shares)               84,606                    
Reinvestment of dividends paid to common stockholders 197,980             $ 85         197,895          
Common Stock, accrued dividend equivalent (34,145)                       (34,145)          
Common stock issued under director's compensation plan (in shares)               31,448                    
Crimson distribution on Class A-1 Units (809,212)                                 (809,212)
Stock-based compensation 233,024             $ 32         185,291         47,701
Ending balance (in shares) at Sep. 30, 2022   683,761           15,176,911 683,761                  
Ending balance at Sep. 30, 2022 243,778,365             $ 15,177 $ 684   129,525,675   329,796,049       (332,423,037) 116,863,817
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Net income (loss) (552,849)                                  
Ending balance (in shares) at Dec. 31, 2022   683,761       15,253,958     683,761                  
Ending balance at Dec. 31, 2022 $ 239,666,517         $ 15,254     $ 684   $ 129,525,675   $ 327,016,573       $ (333,785,097) $ 116,893,428