QUARTERLY FINANCIAL DATA (Unaudited)

v3.23.1

QUARTERLY FINANCIAL DATA (Unaudited)	12 Months Ended
	Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY FINANCIAL DATA (Unaudited)	QUARTERLY FINANCIAL DATA (Unaudited) For the Fiscal 2022 Quarters Ended (As Restated) (As Restated) (As Restated) March 31 June 30 September 30 December 31 Total Revenue $ 32,872,351  $ 31,521,436  $ 32,961,686  $ 36,292,134  Total Expenses 25,258,024  25,971,341  45,014,863  31,605,915  Operating Income (Loss) $ 7,614,327  $ 5,550,095  $ (12,053,177) $ 4,686,219  Net Income (Loss) $ 4,364,757  $ 2,170,126  $ (15,501,704) $ (552,849) Less: Net Income attributable to non-controlling interest 809,212  809,212  809,212  809,212  Net Income (Loss) attributable to CorEnergy Infrastructure Trust, Inc. $ 3,555,545  $ 1,360,914  $ (16,310,916) $ (1,362,061) Preferred dividend requirements $ 2,388,130  $ 2,388,130  $ 2,388,130  $ 2,388,130  Net Income (loss) attributable to Common Stockholders $ 1,167,415  $ (1,027,216) $ (18,699,046) $ (3,750,191) Basic net earnings (loss) per share: Common Stock $ 0.08  $ (0.06) $ (1.18) $ (0.23) Class B Common Stock $ 0.03  $ (0.11) $ (1.23) $ (0.28) Diluted net earnings (loss) per share: Common Stock $ 0.08  $ (0.07) $ (1.20) $ (0.24) Class B Common Stock $ 0.03  $ (0.11) $ (1.23) $ (0.28) For the Fiscal 2021 Quarters Ended (As Restated) (As Restated) (As Restated) (As Restated) March 31 June 30 September 30 December 31 Total Revenue $ 23,040,498  $ 32,296,578  $ 37,028,882  $ 35,767,838  Total Expenses 30,003,999  26,717,163  27,654,395  29,384,749  Operating Income (Loss) $ (6,963,501) $ 5,579,415  $ 9,374,487  $ 6,383,089  Net Income (Loss) (10,694,263) 2,427,409  5,919,971  (188,675) Less: Net Income attributable to non-controlling interest —  1,010,951  1,046,304  809,212  Net Income (Loss) attributable to CorEnergy Infrastructure Trust, Inc. $ (10,694,263) $ 1,416,458  $ 4,873,667  $ (997,887) Preferred dividend requirements 2,309,672  2,309,672  2,388,130  2,388,130  Net Income (loss) attributable to Common Stockholders (13,003,935) (893,214) 2,485,537  (3,386,017) Basic net earnings (loss) per share: Common Stock $ (0.95) $ (0.07) $ 0.16  $ (0.21) Class B Common Stock NA NA $ 0.11  $ (0.26) Diluted net earnings (loss) per share: Common Stock $ (0.95) $ (0.07) $ 0.16  $ (0.22) Class B Common Stock NA NA $ 0.11  $ (0.26) Description of Quarterly Restatement Tables In lieu of filing amended quarterly reports on Form 10-Q, the tables below represent our restated unaudited consolidated financial statements for each of the previously completed quarters during the years ended December 31, 2022 and 2021. The following tables present the impact of the restatement on our previously reported consolidated statements of operations, balance sheets, statements of equity, and statements of cash flows for which the values were derived from our Quarterly Reports on Form 10-Q for the interim periods of 2022 and 2021. Certain reclassifications between captions on the statements of cash flows are included in the effect of restatement columns to conform to current reporting. For further information on the restatement, refer to Note 20 ("Restatement Of Prior Period"). As of and For the Three Months Ended March 31, 2021 The effects of the restatement on the consolidated balance sheet as of March 31, 2021 are summarized in the following table: March 31, 2021 As Previously Reported Effect of Restatement As Restated Assets Property and equipment, net of accumulated depreciation of $25,260,543 (Crimson VIE: $335,865,029) $ 441,213,095  $ —  $ 441,213,095  Leased property, net of accumulated depreciation of $227,265 1,298,763  —  1,298,763  Financing notes and related accrued interest receivable, net of reserve of $600,000 1,183,950  —  1,183,950  Cash and cash equivalents (Crimson VIE: $(547,104)) 18,839,994  (1,178,880) 17,661,114  Accounts and other receivables (Crimson VIE: $10,828,844) 15,275,036  —  15,275,036  Due from affiliated companies (Crimson VIE: $827,264) 827,264  —  827,264  Deferred costs, net of accumulated amortization of $60,142 1,082,205  —  1,082,205  Inventory (Crimson VIE: $1,690,158) 1,795,688  —  1,795,688  Prepaid expenses and other assets (Crimson VIE: $6,313,679) 8,424,488  —  8,424,488  Operating right-of-use assets (Crimson VIE: $6,097,344) 6,175,414  —  6,175,414  Deferred tax asset, net 4,308,976  —  4,308,976  Goodwill 1,718,868  —  1,718,868  Total Assets $ 502,143,741  $ (1,178,880) $ 500,964,861  Liabilities and Equity Secured credit facilities, net of debt issuance costs of $1,732,515 $ 103,267,485  $ —  $ 103,267,485  Unsecured convertible senior notes, net of discount and debt issuance costs of $2,877,445 115,172,555  —  115,172,555  Accounts payable and other accrued liabilities (Crimson VIE: $13,046,352) 17,910,708  (1,178,880) 16,731,828  Management fees payable 608,246  —  608,246  Due to affiliated companies (Crimson VIE: $1,637,540) 2,053,170  —  2,053,170  Operating lease liability (Crimson VIE: $5,752,045) 5,800,866  —  5,800,866  Unearned revenue (Crimson VIE $315,000) 6,294,359  —  6,294,359  Total Liabilities $ 251,107,389  $ (1,178,880) $ 249,928,509  Equity Series A Cumulative Redeemable Preferred Stock 7.375%, $125,270,350 liquidation preference ($2,500 per share, $0.001 par value), 69,367,000 authorized; 50,108 issued and outstanding at March 31, 2021 $ 125,270,350  $ —  $ 125,270,350  Common stock, non-convertible, $0.001 par value; 13,651,521 shares issued and outstanding at March 31, 2021 (100,000,000 shares authorized) 13,652  —  13,652  Additional paid-in capital 336,750,132  336,750,132  Retained deficit (327,926,126) 1,605,308  (326,320,818) Total CorEnergy Equity 134,108,008  1,605,308  135,713,316  Non-controlling interest 116,928,344  (1,605,308) 115,323,036  Total Equity 251,036,352  —  251,036,352  Total Liabilities and Equity $ 502,143,741  $ (1,178,880) $ 500,964,861  e The effects of the restatement on the consolidated statement of operations for the three months ended March 31, 2021 are summarized in the following table: For the Three Months Ended March 31, 2021 As Previously Reported Effect of Restatement As Restated Revenue Transportation and distribution revenue $ 21,295,139  $ —  $ 21,295,139  Pipeline loss allowance subsequent sales 1,075,722  —  1,075,722  Lease revenue 474,475  —  474,475  Other revenue 195,162  —  195,162  Total Revenue 23,040,498  —  23,040,498  Expenses —  Transportation and distribution expenses 10,342,597  —  10,342,597  Pipeline loss allowance subsequent sales cost of revenue 948,856  —  948,856  General and administrative 9,836,793  —  9,836,793  Depreciation, amortization and ARO accretion expense 2,898,330  —  2,898,330  Loss on impairment and disposal of leased property 5,811,779  —  5,811,779  Loss on termination of lease 165,644  —  165,644  Total Expenses 30,003,999  —  30,003,999  Operating Loss $ (6,963,501) $ —  $ (6,963,501) Other Income (Expense) —  Other income $ 63,526  $ —  $ 63,526  Interest expense (2,931,007) —  (2,931,007) Loss on extinguishment of debt (861,814) —  (861,814) Total Other Expense (3,729,295) —  (3,729,295) Loss before income taxes (10,692,796) —  (10,692,796) Taxes —  Current tax expense 27,867  —  27,867  Deferred tax benefit (26,400) —  (26,400) Income tax expense, net 1,467  —  1,467  Net Loss $ (10,694,263) $ —  $ (10,694,263) Less: Net income attributable to non-controlling interest 1,605,308  (1,605,308) —  Net Loss attributable to CorEnergy Infrastructure Trust, Inc. $ (12,299,571) $ 1,605,308  $ (10,694,263) Preferred dividend requirements 2,309,672  —  2,309,672  Net Loss attributable to Common Stockholders $ (14,609,243) $ 1,605,308  $ (13,003,935) Common Stock Basic weighted average shares outstanding 13,651,521  —  13,651,521  Basic net loss per share $ (1.07) $ 0.12  $ (0.95) Diluted weighted average shares outstanding 13,651,521  —  13,651,521  Diluted net loss per share $ (1.07) $ 0.12  $ (0.95) Dividends declared per Common share $ 0.050  $ —  $ 0.050  The effects of the restatement on the consolidated statement of equity for the three months ended March 31, 2021 are summarized in the following table: Common Stock Preferred Stock Additional Paid-in Capital Retained Deficit Non-controlling Interest Total Shares Amount Amount As Previously Reported Balance at December 31, 2020 13,651,521  $ 13,652  $ 125,270,350  $ 339,742,380  $ (315,626,555) $ —  $ 149,399,827  Net income (loss) —  —  —  —  (12,299,571) 1,605,308  (10,694,263) Series A preferred stock dividends —  —  —  (2,309,672) —  —  (2,309,672) Common stock dividends —  —  —  (682,576) —  —  (682,576) Equity attributable to non-controlling interest —  —  —  —  —  115,323,036  115,323,036  Balance at March 31, 2021 (Unaudited) 13,651,521  $ 13,652  $ 125,270,350  $ 336,750,132  $ (327,926,126) $ 116,928,344  $ 251,036,352  Restatement Impact Net income (loss) —  $ —  $ —  $ —  $ 1,605,308  $ (1,605,308) $ —  Series A preferred stock dividends —  —  —  —  —  —  —  Common stock dividends —  —  —  —  —  —  —  Equity attributable to non-controlling interest —  —  —  —  —  —  —  Balance at March 31, 2021 (Unaudited) —  $ —  $ —  $ —  $ 1,605,308  $ (1,605,308) $ —  As Restated Balance at December 31, 2020 13,651,521  $ 13,652  $ 125,270,350  $ 339,742,380  $ (315,626,555) —  149,399,827  Net loss —  —  —  —  (10,694,263) —  (10,694,263) Series A preferred stock dividends —  —  —  (2,309,672) —  —  (2,309,672) Common stock dividends —  —  —  (682,576) —  —  (682,576) Equity attributable to non-controlling interest —  —  —  —  —  115,323,036  115,323,036  Balance at March 31, 2021 (Unaudited) 13,651,521  $ 13,652  $ 125,270,350  $ 336,750,132  $ (326,320,818) $ 115,323,036  $ 251,036,352  The effects of the restatement on the consolidated statement of cash flow for the three months ended March 31, 2021 are summarized in the following table: For the Three Months Ended March 31, 2021 As Previously Reported Effect of Restatement As Restated Operating Activities Net loss $ (10,694,263) $ —  $ (10,694,263) Adjustments to reconcile net loss to net cash (used in) provided by operating activities: Deferred income tax (26,400) —  (26,400) Depreciation, amortization and ARO accretion 3,267,034  (368,704) 2,898,330  Amortization of debt issuance costs —  368,704  368,704  Loss on impairment and disposal of leased property 5,811,779  —  5,811,779  Loss on termination of lease 165,644  —  165,644  Loss on extinguishment of debt 861,814  —  861,814  Non-cash lease expense 178,542  (178,542) —  Changes in assets and liabilities: Accounts and other receivables (344,371) —  (344,371) Financing note accrued interest receivable (6,714) —  (6,714) Inventory (26,111) —  (26,111) Prepaid expenses and other assets (249,081) —  (249,081) Due to affiliated companies, net 1,225,906  —  1,225,906  Management fee payable (363,380) —  (363,380) Accounts payable and other accrued liabilities (1,611,539) (1,178,880) (2,790,419) Operating lease liability (523,652) 523,652  —  Unearned revenue (146,369) —  (146,369) Other changes, net —  (345,110) (345,110) Net cash (used in) provided by operating activities $ (2,481,161) $ (1,178,880) $ (3,660,041) Investing Activities Acquisition of Crimson Midstream Holdings, net of cash acquired (68,094,324) —  (68,094,324) Purchases of property and equipment, net (4,625,511) —  (4,625,511) Proceeds from sale of property and equipment 79,600  —  79,600  Proceeds from insurance recovery 60,153  —  60,153  Principal payment on financing note receivable 32,500  —  32,500  Net cash (used in) provided by investing activities $ (72,547,582) $ —  $ (72,547,582) Financing Activities Debt financing costs (2,735,922) —  (2,735,922) Dividends paid on Series A preferred stock (2,309,672) —  (2,309,672) Dividends paid on common stock (682,576) —  (682,576) Advances on revolving line of credit 3,000,000  —  3,000,000  Payments on revolving line of credit (3,000,000) —  (3,000,000) Net cash used in financing activities $ (5,728,170) $ —  $ (5,728,170) Net change in Cash and Cash Equivalents $ (80,756,913) $ (1,178,880) $ (81,935,793) For the Three Months Ended March 31, 2021 As Previously Reported Effect of Restatement As Restated Cash and Cash Equivalents at beginning of period 99,596,907  —  99,596,907  Cash and Cash Equivalents at end of period $ 18,839,994  $ (1,178,880) $ 17,661,114  Supplemental Disclosure of Cash Flow Information Interest paid $ 4,254,050  $ —  $ 4,254,050  Income taxes paid (net of refunds) 5,026  —  5,026  Non-Cash Investing Activities In-kind consideration for the Grand Isle Gathering System provided as partial consideration for the Crimson Midstream Holdings acquisition $ 48,873,169  $ —  $ 48,873,169  Crimson Credit Facility assumed and refinanced in connection with the Crimson Midstream Holdings acquisition 105,000,000  —  105,000,000  Equity consideration attributable to non-controlling interest holder in connection with the Crimson Midstream Holdings acquisition 115,323,036  —  115,323,036  Purchases of property, plant and equipment in accounts payable and other accrued liabilities 868,190  —  868,190  Non-Cash Financing Activities Change in accounts payable and accrued expenses related to debt financing costs $ (235,198) $ —  $ (235,198) As of and For the Three and Six Months Ended June 30, 2021 The effects of the restatement on the consolidated balance sheet as of June 30, 2021 are summarized in the following table: June 30, 2021 As Previously Reported Effect of Restatement As Restated Assets Property and equipment, net of accumulated depreciation of $28,973,654 (Crimson VIE: $338,930,724) $ 443,457,382  $ —  $ 443,457,382  Leased property, net of accumulated depreciation of $237,579 1,288,449  —  1,288,449  Financing notes and related accrued interest receivable, net of reserve of $600,000 1,149,245  —  1,149,245  Cash and cash equivalents (Crimson VIE: $2,989,319) 17,695,458  (548,236) 17,147,222  Accounts and other receivables (Crimson VIE: $11,434,113) 14,389,085  —  14,389,085  Due from affiliated companies (Crimson VIE: $1,163,633) 1,163,633  —  1,163,633  Deferred costs, net of accumulated amortization of $155,353 986,994  —  986,994  Inventory (Crimson VIE: $1,512,398) 1,625,464  —  1,625,464  Prepaid expenses and other assets (Crimson VIE: $4,018,467) 10,939,625  —  10,939,625  Operating right-of-use assets (Crimson VIE: $5,844,591) 5,914,710  —  5,914,710  Deferred tax asset, net 4,173,754  —  4,173,754  Goodwill 1,718,868  —  1,718,868  Total Assets $ 504,502,667  $ (548,236) $ 503,954,431  Liabilities and Equity Secured credit facilities, net of debt issuance costs of $1,580,091 $ 104,419,909  $ —  $ 104,419,909  Unsecured convertible senior notes, net of discount and debt issuance costs of $2,713,020 115,336,979  —  115,336,979  Accounts payable and other accrued liabilities (Crimson VIE: $11,454,583) 20,780,331  (548,236) 20,232,095  Management Fees Payable 304,770  —  304,770  Due to affiliated companies (Crimson VIE: $979,603) 979,603  —  979,603  Operating lease liability (Crimson VIE: $5,609,946) 5,651,002  —  5,651,002  Unearned revenue (Crimson VIE $315,000) 6,147,990  —  6,147,990  Total Liabilities $ 253,620,584  $ (548,236) $ 253,072,348  Equity Series A Cumulative Redeemable Preferred Stock 7.375%, $125,270,350 liquidation preference ($2,500 per share, $0.001 par value), 69,367,000 authorized; 50,108 issued and outstanding at June 30, 2021 $ 125,270,350  $ —  $ 125,270,350  Common stock, non-convertible, $0.001 par value; 13,673,326 shares issued and outstanding at June 30, 2021 (100,000,000 shares authorized) 13,673  —  13,673  Additional paid-in capital 333,890,657  —  333,890,657  Retained deficit (327,513,586) 2,609,227  (324,904,359) Total CorEnergy Equity 131,661,094  2,609,227  134,270,321  Non-controlling interest 119,220,989  (2,609,227) 116,611,762  Total Equity 250,882,083  —  250,882,083  Total Liabilities and Equity $ 504,502,667  $ (548,236) $ 503,954,431  The effects of the restatement on the consolidated statement of operations for the three months ended June 30, 2021 are summarized in the following table: For the Three Months Ended June 30, 2021 As Reported Previously Effect of Restatement As Restated Revenue Transportation and distribution revenue $ 28,100,343  $ —  $ 28,100,343  Pipeline loss allowance subsequent sales 2,915,533  —  2,915,533  Lease revenue 701,525  —  701,525  Other revenue 579,177  —  579,177  Total Revenue 32,296,578  —  32,296,578  Expenses Transportation and distribution expenses 15,363,410  —  15,363,410  Pipeline loss allowance subsequent sales cost of revenue 2,223,646  —  2,223,646  General and administrative 5,381,654  —  5,381,654  Depreciation, amortization and ARO accretion expense 3,748,453  —  3,748,453  Total Expenses 26,717,163  —  26,717,163  Operating Income $ 5,579,415  $ —  $ 5,579,415  Other Income (Expense) Other income $ 299,293  —  $ 299,293  Interest expense (3,295,703) —  (3,295,703) Total Other Expense (2,996,410) —  (2,996,410) Income before income taxes 2,583,005  —  2,583,005  Taxes Current tax expense 20,374  —  20,374  Deferred tax expense 135,222  —  135,222  Income tax expense, net 155,596  —  155,596  Net Income $ 2,427,409  $ —  $ 2,427,409  Less: Net income (loss) attributable to non-controlling interest 2,014,870  (1,003,919) 1,010,951  Net Income attributable to CorEnergy Infrastructure Trust, Inc. $ 412,539  $ 1,003,919  $ 1,416,458  Preferred dividend requirements 2,309,672  —  2,309,672  Net Income (Loss) attributable to Common Stockholders $ (1,897,133) $ 1,003,919  $ (893,214) Common Stock Basic weighted average shares outstanding 13,659,667  —  13,659,667  Basic net loss per share $ (0.14) $ 0.07  $ (0.07) Diluted weighted average shares outstanding 13,659,667  —  13,659,667  Diluted net loss per share $ (0.14) $ 0.07  $ (0.07) Dividends declared per Common share $ 0.050  —  $ 0.050  The effects of the restatement on the consolidated statement of operations for the six months ended June 30, 2021 are summarized in the following table: For the Six Months Ended June 30, 2021 As Previously Reported Effect of Restatement As Restated Revenue Transportation and distribution revenue $ 49,395,482  $ —  $ 49,395,482  Pipeline loss allowance subsequent sales 3,991,255  —  3,991,255  Lease revenue 1,176,000  —  1,176,000  Other revenue 774,339  —  774,339  Total Revenue 55,337,076  —  55,337,076  Expenses Transportation and distribution expenses 25,706,007  —  25,706,007  Pipeline loss allowance subsequent sales cost of revenue 3,172,502  —  3,172,502  General and administrative 15,218,447  —  15,218,447  Depreciation, amortization and ARO accretion expense 6,646,783  —  6,646,783  Loss on impairment and disposal of leased property 5,811,779  —  5,811,779  Loss on termination of lease 165,644  —  165,644  Total Expenses 56,721,162  —  56,721,162  Operating Loss $ (1,384,086) $ —  $ (1,384,086) Other Income (Expense) Other income $ 362,819  $ —  $ 362,819  Interest expense (6,226,710) —  (6,226,710) Loss on extinguishment of debt (861,814) —  (861,814) Total Other Expense (6,725,705) —  (6,725,705) Loss before income taxes (8,109,791) —  (8,109,791) Taxes Current tax expense 48,241  —  48,241  Deferred tax expense 108,822  —  108,822  Income tax expense, net 157,063  —  157,063  Net Loss $ (8,266,854) $ —  $ (8,266,854) Less: Net income (loss) attributable to non-controlling interest 3,620,178  (2,609,227) 1,010,951  Net Income (Loss) attributable to CorEnergy Infrastructure Trust, Inc. $ (11,887,032) $ 2,609,227  $ (9,277,805) Preferred dividend requirements 4,619,344  —  4,619,344  Net Income (Loss) attributable to Common Stockholders $ (16,506,376) $ 2,609,227  $ (13,897,149) Common Stock Basic weighted average shares outstanding 13,655,617  —  13,655,617  Basic net loss per share $ (1.21) $ 0.19  $ (1.02) Diluted weighted average shares outstanding 13,655,617  —  13,655,617  Diluted net loss per share $ (1.21) $ 0.19  $ (1.02) Dividends declared per Common share $ 0.050  $ —  $ 0.050  The effects of the restatement on the consolidated statement of equity for the three and six months ended June 30, 2021 are summarized in the following table: Common Stock Preferred Stock Additional Paid-in Capital Retained Deficit Non-controlling Interest Total Shares Amount Amount As Previously Reported Balance at December 31, 2020 13,651,521  $ 13,652  $ 125,270,350  $ 339,742,380  $ (315,626,555) $ —  $ 149,399,827  Net income (loss) —  —  —  —  (12,299,571) 1,605,308  (10,694,263) Series A preferred stock dividends —  —  —  (2,309,672) —  —  (2,309,672) Common Stock dividends —  —  —  (682,576) —  —  (682,576) Equity attributable to non-controlling interest —  —  —  —  —  115,323,036  115,323,036  Balance at March 31, 2021 (Unaudited) 13,651,521  $ 13,652  $ 125,270,350  $ 336,750,132  $ (327,926,126) $ 116,928,344  $ 251,036,352  Net income —  —  —  —  412,539  2,014,870  2,427,409  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 21,805  21  —  132,774  —  —  132,795  Crimson cash distribution on A-1 Units —  —  —  —  —  (604,951) (604,951) Crimson A-2 Units dividends payment in kind —  —  —  —  —  (406,000) (406,000) Equity attributable to non-controlling interest —  —  —  —  —  1,288,726  1,288,726  Balance at June 30, 2021 (Unaudited) 13,673,326  $ 13,673  $ 125,270,350  $ 333,890,657  $ (327,513,587) $ 119,220,989  $ 250,882,083  Restatement Impact Net income (loss) —  $ —  $ —  $ —  $ 1,605,308  $ (1,605,308) $ —  Balance at March 31, 2021 (Unaudited) —  $ —  $ —  $ —  $ 1,605,308  $ (1,605,308) $ —  Net income (loss) —  —  —  1,003,919  (1,003,919) —  Balance at June 30, 2021 (Unaudited) —  $ —  $ —  $ —  $ 2,609,227  $ (2,609,227) $ —  As Restated Balance at December 31, 2020 13,651,521  $ 13,652  $ 125,270,350  $ 339,742,380  $ (315,626,555) $ —  $ 149,399,827  Net loss —  —  —  —  (10,694,263) —  (10,694,263) Series A preferred stock dividends —  —  —  (2,309,672) —  —  (2,309,672) Common Stock dividends —  —  —  (682,576) —  —  (682,576) Equity attributable to non-controlling interest —  —  —  —  —  115,323,036  115,323,036  Balance at March 31, 2021 (Unaudited) 13,651,521  $ 13,652  $ 125,270,350  $ 336,750,132  $ (326,320,818) $ 115,323,036  $ 251,036,352  Net income —  —  —  —  1,416,458  1,010,951  2,427,409  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 21,805  21  —  132,774  —  —  132,795  Crimson cash distribution on A-1 Units —  —  —  —  —  (604,951) (604,951) Crimson A-2 Units dividends payment in kind —  —  —  —  —  (406,000) (406,000) Equity attributable to non-controlling interest —  —  —  —  —  1,288,726  1,288,726  Balance at June 30, 2021 (Unaudited) 13,673,326  $ 13,673  $ 125,270,350  $ 333,890,657  $ (324,904,359) $ 116,611,762  $ 250,882,083  The effects of the restatement on the consolidated statement of cash flow for the six months ended June 30, 2021 are summarized in the following table: For the Six Months Ended June 30, 2021 As Previously Reported Effect of Restatement As Restated Operating Activities Net loss $ (8,266,854) $ —  $ (8,266,854) Adjustments to reconcile net loss to net cash provided by operating activities: Deferred income tax 108,822  —  108,822  Depreciation, amortization and ARO accretion 7,427,544  (780,761) 6,646,783  Amortization of debt issuance costs —  780,761  780,761  Loss on impairment and disposal of leased property 5,811,779  —  5,811,779  Loss on termination of lease 165,644  —  165,644  Loss on extinguishment of debt 861,814  —  861,814  Non-cash lease expense 439,246  (439,246) —  Changes in assets and liabilities: Accounts and other receivables 541,580  122,976  664,556  Financing note accrued interest receivable (9,926) —  (9,926) Inventory 144,113  —  144,113  Prepaid expenses and other assets (2,788,545) (3,882,392) (6,670,937) Due from affiliated companies, net (184,030) —  (184,030) Management fee payable (666,856) —  (666,856) Accounts payable and other accrued liabilities 1,740,265  (117,333) 1,622,932  Operating lease liability (673,516) 673,516  —  Unearned revenue (292,738) —  (292,738) Other changes, net —  (234,270) (234,270) Net cash provided by operating activities $ 4,358,342  $ (3,876,749) $ 481,593  Investing Activities Acquisition of Crimson Midstream Holdings, net of cash acquired (69,002,053) —  (69,002,053) Purchases of property and equipment, net (9,275,334) (709,933) (9,985,267) Proceeds from reimbursable projects —  586,957  586,957  Proceeds from sale of property and equipment 79,600  —  79,600  Proceeds from insurance recovery 60,153  —  60,153  Principal payment on financing note receivable 70,417  —  70,417  Net cash used in investing activities $ (78,067,217) $ (122,976) $ (78,190,193) Financing Activities Debt financing costs (2,735,922) —  (2,735,922) Dividends paid on Series A preferred stock (4,619,344) —  (4,619,344) Dividends paid on Common Stock (1,232,357) —  (1,232,357) Distributions to non-controlling interest (604,951) —  (604,951) Advances on revolving line of credit 8,000,000  —  8,000,000  Payments on revolving line of credit (7,000,000) —  (7,000,000) Proceeds from financing arrangement —  3,882,392  3,882,392  Payments on financing arrangement —  (430,903) (430,903) Net cash used in financing activities $ (8,192,574) $ 3,451,489  $ (4,741,085) Net change in Cash and Cash Equivalents $ (81,901,449) $ (548,236) $ (82,449,685) Cash and Cash Equivalents at beginning of period 99,596,907  —  99,596,907  For the Six Months Ended June 30, 2021 As Previously Reported Effect of Restatement As Restated Cash and Cash Equivalents at end of period $ 17,695,458  $ (548,236) $ 17,147,222  Supplemental Disclosure of Cash Flow Information Interest paid $ 5,750,876  $ —  $ 5,750,876  Income taxes paid (net of refunds) (1,286) —  (1,286) Non-Cash Investing Activities In-kind consideration for the Grand Isle Gathering System provided as partial consideration for the Crimson Midstream Holdings acquisition $ 48,873,169  $ —  $ 48,873,169  Crimson Credit Facility assumed and refinanced in connection with the Crimson Midstream Holdings acquisition 105,000,000  —  105,000,000  Equity consideration attributable to non-controlling interest holder in connection with the Crimson Midstream Holdings acquisition 116,205,762  —  116,205,762  Purchases of property, plant and equipment in accounts payable and other accrued liabilities 386,009  —  386,009  Non-Cash Financing Activities Change in accounts payable and accrued expenses related to debt financing costs $ 235,198  $ —  $ 235,198  Crimson A-2 Units dividends payment in kind 406,000  —  406,000  Assets acquired under financing arrangement —  3,554,952  3,554,952  As of and For the Three and Nine Months Ended September 30, 2021 The effects of the restatement on the consolidated balance sheet as of September 30, 2021 are summarized in the following table: September 30, 2021 As Previously Reported Effect of Restatement As Restated Assets Property and equipment, net of accumulated depreciation of $32,592,641 (Crimson VIE: $341,422,699) $ 445,250,237  $ —  $ 445,250,237  Leased property, net of accumulated depreciation of $247,893 1,278,135  —  1,278,135  Financing notes and related accrued interest receivable, net of reserve of $600,000 1,078,072  —  1,078,072  Cash and cash equivalents (Crimson VIE: $3,717,809) 15,091,957  (411,890) 14,680,067  Accounts and other receivables (Crimson VIE: $11,426,137) 14,573,047  —  14,573,047  Due from affiliated companies (Crimson VIE: $953,806) 953,806  —  953,806  Deferred costs, net of accumulated amortization of $250,564 891,783  —  891,783  Inventory (Crimson VIE: $3,229,161) 3,342,111  —  3,342,111  Prepaid expenses and other assets (Crimson VIE: $5,159,383) 10,550,792  —  10,550,792  Operating right-of-use assets (Crimson VIE: $5,950,501) 6,433,505  —  6,433,505  Deferred tax asset, net 4,060,239  —  4,060,239  Goodwill 16,210,020  —  16,210,020  Total Assets $ 519,713,704  $ (411,890) $ 519,301,814  Liabilities and Equity Secured credit facilities, net of deferred financing costs of $1,427,667 $ 102,572,333  $ —  $ 102,572,333  Unsecured convertible senior notes, net of discount and debt issuance costs of $2,548,595 115,501,404  —  115,501,404  Accounts payable and other accrued liabilities (Crimson VIE: $14,005,086) 20,901,358  (411,890) 20,489,468  Income tax liability 33,027  —  33,027  Due to affiliated companies (Crimson VIE: $765,228) 765,228  —  765,228  Operating lease liability (Crimson VIE: $5,826,885) 6,281,014  —  6,281,014  Unearned revenue (Crimson VIE $315,000) 6,001,622  —  6,001,622  Total Liabilities $ 252,055,986  $ (411,890) $ 251,644,096  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 September 30, 2021 $ 129,525,675  $ —  $ 129,525,675  Common stock, non-convertible, $0.001 par value; 14,866,799 shares issued and outstanding at September 30, 2021 (100,000,000 shares authorized) 14,866  —  14,866  Class B Common Stock, $0.001 par value; 683,761 shares issued and outstanding at September 30, 2021 (11,896,100 shares authorized) 684  —  684  Additional paid-in capital 341,331,070  —  341,331,070  Retained deficit (324,749,301) 4,718,608  (320,030,693) Total CorEnergy Equity 146,122,994  4,718,608  150,841,602  Non-controlling interest 121,534,724  (4,718,608) 116,816,116  Total Equity 267,657,718  —  267,657,718  Total Liabilities and Equity $ 519,713,704  $ (411,890) $ 519,301,814  The effects of the restatement on the consolidated statement of operations for the three months ended September 30, 2021 are summarized in the following table: For the Three Months Ended September 30, 2021 As Previously Reported Effect of Restatement As Restated Revenue Transportation and distribution revenue $ 34,286,394  $ —  $ 34,286,394  Pipeline loss allowance subsequent sales 2,124,581  —  2,124,581  Lease revenue 32,915  —  32,915  Other revenue 584,992  —  584,992  Total Revenue 37,028,882  —  37,028,882  Expenses Transportation and distribution expenses 16,089,414  —  16,089,414  Pipeline loss allowance subsequent sales cost of revenue 2,718,038  —  2,718,038  General and administrative 5,156,087  —  5,156,087  Depreciation, amortization and ARO accretion expense 3,690,856  —  3,690,856  Total Expenses 27,654,395  —  27,654,395  Operating Income $ 9,374,487  $ —  $ 9,374,487  Other Income (expense) Other income $ 4,040  $ —  $ 4,040  Interest expense (3,351,967) —  (3,351,967) Total Other Expense (3,347,927) —  (3,347,927) Income before income taxes 6,026,560  —  6,026,560  Taxes Current tax benefit (6,927) —  (6,927) Deferred tax expense 113,516  —  113,516  Income tax expense, net 106,589  —  106,589  Net Income $ 5,919,971  —  $ 5,919,971  Less: Net income attributable to non-controlling interest 3,155,685  (2,109,381) 1,046,304  Net income attributable to CorEnergy Infrastructure Trust, Inc. $ 2,764,286  $ 2,109,381  $ 4,873,667  Preferred dividend requirements 2,388,130  —  2,388,130  Net income attributable to Common Stockholders $ 376,156  $ 2,109,381  $ 2,485,537  Common Stock Basic weighted average shares outstanding 15,426,226  (646,600) 14,779,625  Basic net income per share $ 0.02  $ 0.14  $ 0.16  Diluted weighted average shares outstanding 15,426,226  181,644  15,244,582  Diluted net income per share $ 0.02  $ 0.14  $ 0.16  Class B Common Stock Basic and diluted weighted average shares outstanding —  646,600  646,600  Basic and diluted net income per share $ —  $ 0.11  $ 0.11  Dividends declared per Common share $ 0.050  $ —  $ 0.050  The effects of the restatement on the consolidated statement of operations for the nine months ended September 30, 2021 are summarized in the following table: For the Nine Months Ended September 30, 2021 As Previously Reported Effect of Restatement As Restated Revenue Transportation and distribution revenue $ 83,681,876  $ —  $ 83,681,876  Pipeline loss allowance subsequent sales 6,115,836  —  6,115,836  Lease revenue 1,208,915  —  1,208,915  Other revenue 1,359,331  —  1,359,331  Total Revenue 92,365,958  —  92,365,958  Expenses Transportation and distribution expenses 41,795,421  —  41,795,421  Pipeline loss allowance subsequent sales cost of revenue 5,890,540  —  5,890,540  General and administrative 20,374,534  —  20,374,534  Depreciation, amortization and ARO accretion expense 10,337,639  —  10,337,639  Loss on impairment and disposal of leased property 5,811,779  —  5,811,779  Loss on termination of lease 165,644  —  165,644  Total Expenses 84,375,557  —  84,375,557  Operating Income $ 7,990,401  $ —  $ 7,990,401  Other Income (expense) Other income $ 366,859  —  $ 366,859  Interest expense (9,578,677) —  (9,578,677) Loss on extinguishment of debt (861,814) —  (861,814) Total Other Expense (10,073,632) —  (10,073,632) Loss before income taxes (2,083,231) —  (2,083,231) Taxes Current tax expense 41,313  —  41,313  Deferred tax expense 222,339  —  222,339  Income tax expense, net 263,652  —  263,652  Net Loss $ (2,346,883) —  $ (2,346,883) Less: Net income attributable to non-controlling interest 6,775,863  (4,718,608) 2,057,255  Net Loss attributable to CorEnergy Infrastructure Trust, Inc. $ (9,122,746) $ 4,718,608  $ (4,404,138) Preferred dividend requirements 7,007,474  —  7,007,474  Net Loss attributable to Common Stockholders $ (16,130,220) $ 4,718,608  $ (11,411,612) Common Stock Basic weighted average shares outstanding 14,252,305  (217,902) 14,034,403  Basic net loss per share $ (1.13) $ 0.33  $ (0.80) Diluted weighted average shares outstanding 14,252,305  (217,902) 14,034,403  Diluted net loss per share $ (1.13) $ 0.33  $ (0.80) Class B Common Stock Basic and diluted weighted average shares outstanding —  217,902  217,902  Basic and diluted net loss per share $ —  $ (0.95) $ (0.95) Dividends declared per Common share $ 0.150  $ —  $ 0.150  The effects of the restatement on the consolidated statement of equity for the three and nine months ended September 30, 2021 are summarized in the following table: Common Stock Class B Common Stock Preferred Stock Additional Paid-in Capital Retained Deficit Non-controlling Interest Total Shares Amount Shares Amount Amount As Previously Reported Balance at December 31, 2020 13,651,521  $ 13,652  —  $ —  $ 125,270,350  $ 339,742,380  $ (315,626,555) $ —  $ 149,399,827  Net income (loss) —  —  —  —  —  —  (12,299,571) 1,605,308  (10,694,263) Series A preferred stock dividends —  —  —  —  —  (2,309,672) —  —  (2,309,672) Common Stock dividends —  —  —  —  —  (682,576) —  —  (682,576) Equity attributable to non-controlling interest —  —  —  —  —  —  —  115,323,036  115,323,036  Balance at March 31, 2021 (Unaudited) 13,651,521  $ 13,652  —  $ —  $ 125,270,350  $ 336,750,132  $ (327,926,126) $ 116,928,344  $ 251,036,352  Net income —  —  —  —  —  —  412,539  2,014,870  2,427,409  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 21,805  21  —  —  —  132,774  —  —  132,795  Crimson cash distribution on A-1 Units —  —  —  —  —  —  —  (604,951) (604,951) Crimson A-2 Units dividends payment in kind —  —  —  —  —  —  —  (406,000) (406,000) Equity attributable to non-controlling interest —  —  —  —  —  —  —  1,288,726  1,288,726  Balance at June 30, 2021 (Unaudited) 13,673,326  $ 13,673  —  $ —  $ 125,270,350  $ 333,890,657  $ (327,513,587) $ 119,220,989  $ 250,882,083  Net income —  —  —  —  —  —  2,764,286  3,155,685  5,919,971  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 36,228  36  —  —  —  174,583  —  —  174,619  Common stock issued under director's compensation plan 3,399  3  —  —  —  22,497  —  —  22,500  Crimson cash distribution on A-1 Units —  —  —  —  —  —  —  (841,950) (841,950) Crimson A-2 Units dividends payment in kind —  —  —  —  —  —  —  (204,353) (204,353) Equity attributable to non-controlling interest —  —  —  —  —  —  —  204,353  204,353  Series A preferred stock issued due to internalization transaction —  —  —  —  4,255,325  (10,213) —  —  4,245,112  Common Stock issued due to internalization transaction 1,153,846  1,154  —  —  —  7,094,999  —  —  7,096,153  Class B Common Stock issued due to internalization transaction —  —  683,761  684  —  3,288,206  —  —  3,288,890  Balance at September 30, 2021 (Unaudited) 14,866,799  $ 14,866  683,761  $ 684  $ 129,525,675  $ 341,331,070  $ (324,749,302) $ 121,534,724  $ 267,657,718  Restatement Impact Net income (loss) —  $ —  —  $ —  $ —  $ —  $ 1,605,308  $ (1,605,308) $ —  Balance at March 31, 2021 (Unaudited) —  $ —  —  $ —  $ —  $ —  $ 1,605,308  $ (1,605,308) $ —  Net income (loss) —  —  —  —  —  —  1,003,919  (1,003,919) —  Balance at June 30, 2021 (Unaudited) —  $ —  —  $ —  $ —  $ —  $ 2,609,227  $ (2,609,227) $ —  Net income (loss) —  —  —  —  —  —  2,109,381  (2,109,381) —  Balance at September 30, 2021 (Unaudited) —  $ —  —  $ —  $ —  $ —  $ 4,718,608  $ (4,718,608) $ —  —  As Restated —  Balance at December 31, 2020 13,651,521  $ 13,652  —  $ —  $ 125,270,350  $ 339,742,380  $ (315,626,555) $ —  $ 149,399,827  Net loss —  —  —  —  —  —  (10,694,263) —  (10,694,263) Series A preferred stock dividends —  —  —  —  —  (2,309,672) —  —  (2,309,672) Common Stock dividends —  —  —  —  —  (682,576) —  —  (682,576) Equity attributable to non-controlling interest —  —  —  —  —  —  —  115,323,036  115,323,036  Balance at March 31, 2021 (Unaudited) 13,651,521  $ 13,652  —  $ —  $ 125,270,350  $ 336,750,132  $ (326,320,818) $ 115,323,036  $ 251,036,352  Net income —  —  —  —  —  —  1,416,458  1,010,951  2,427,409  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 21,805  21  —  —  —  132,774  —  —  132,795  Crimson cash distribution on A-1 Units —  —  —  —  —  —  —  (604,951) (604,951) Crimson A-2 Units dividends payment in kind —  —  —  —  —  —  —  (406,000) (406,000) Equity attributable to non-controlling interest —  —  —  —  —  —  —  1,288,726  1,288,726  Balance at June 30, 2021 (Unaudited) 13,673,326  $ 13,673  —  $ —  $ 125,270,350  $ 333,890,657  $ (324,904,359) $ 116,611,762  $ 250,882,083  Net income —  —  —  —  —  —  4,873,667  1,046,304  5,919,971  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 36,228  36  —  —  —  174,583  —  —  174,619  Common stock issued under director's compensation plan 3,399  3  —  —  —  22,497  —  —  22,500  Crimson cash distribution on A-1 Units —  —  —  —  —  —  —  (841,950) (841,950) Crimson A-2 Units dividends payment in kind —  —  —  —  —  —  —  (204,353) (204,353) Equity attributable to non-controlling interest —  —  —  —  —  —  —  204,353  204,353  Series A preferred stock issued due to internalization transaction —  —  —  —  4,255,325  (10,213) —  —  4,245,112  Common Stock issued due to internalization transaction 1,153,846  1,154  —  —  —  7,094,999  —  —  7,096,153  Class B Common Stock issued due to internalization transaction —  —  683,761  684  —  3,288,206  —  —  3,288,890  Balance at September 30, 2021 (Unaudited) 14,866,799  $ 14,866  683,761  $ 684  $ 129,525,675  $ 341,331,070  $ (320,030,693) $ 116,816,116  $ 267,657,718  The effects of the restatement on the consolidated statement of cash flow for the nine months ended September 30, 2021 are summarized in the following table: For the Nine Months Ended September 30, 2021 As Previously Reported Effect of Restatement As Restated Operating Activities Net loss $ (2,346,883) $ —  $ (2,346,883) Adjustments to reconcile net loss to net cash provided by operating activities: Deferred income tax 222,337  —  222,337  Depreciation, amortization and ARO accretion 11,530,460  (1,192,821) 10,337,639  Amortization of debt issuance costs —  1,192,821  1,192,821  Loss on impairment and disposal of leased property 5,811,779  —  5,811,779  Loss on termination of lease 165,644  —  165,644  Loss on extinguishment of debt 861,814  —  861,814  Non-cash lease expense 373,847  (373,847) —  Gain on sale of equipment (16,508) —  (16,508) Stock-based compensation —  22,500  22,500  Changes in assets and liabilities: Accounts and other receivables 702,251  (586,957) 115,294  Financing note accrued interest receivable (8,780) —  (8,780) Inventory (1,572,534) —  (1,572,534) Prepaid expenses and other assets (2,409,857) (3,882,392) (6,292,249) Due from affiliated companies, net (188,578) —  (188,578) Management fee payable (971,626) —  (971,626) Accounts payable and other accrued liabilities 987,899  881,766  1,869,665  Income tax liability 33,027  —  33,027  Operating lease liability (496,900) 496,900  —  Unearned revenue (439,106) —  (439,106) Other changes, net —  (123,053) (123,053) Net cash provided by operating activities $ 12,238,286  $ (3,565,083) $ 8,673,203  Investing Activities Acquisition of Crimson Midstream Holdings, net of cash acquired (69,002,053) —  (69,002,053) Acquisition of Corridor InfraTrust Management, net of cash acquired 952,487  —  952,487  Purchases of property and equipment, net (15,024,412) (709,933) (15,734,345) Proceeds from Reimbursable projects —  1,296,890  1,296,890  Proceeds from sale of property and equipment 97,210  —  97,210  Proceeds from insurance recovery 60,153  —  60,153  Principal payment on financing note receivable 113,595  —  113,595  Decrease in financing note receivable 26,849  —  26,849  Net cash used in investing activities $ (82,776,171) $ 586,957  $ (82,189,214) Financing Activities Debt financing costs (2,735,922) —  (2,735,922) Dividends paid on Series A preferred stock (7,007,474) —  (7,007,474) Dividends paid on Common Stock (1,799,268) —  (1,799,268) Common stock issued under director's compensation plan 22,500  (22,500) —  Distributions to non-controlling interest (1,446,901) —  (1,446,901) Advances on revolving line of credit 19,000,000  —  19,000,000  Payments on revolving line of credit (16,000,000) —  (16,000,000) For the Nine Months Ended September 30, 2021 As Previously Reported Effect of Restatement As Restated Principal payments on Crimson secured credit facility (4,000,000) —  (4,000,000) Proceeds from financing arrangement —  3,882,392  3,882,392  Payments on financing arrangement —  (1,293,656) (1,293,656) Net cash used in financing activities $ (13,967,065) $ 2,566,236  $ (11,400,829) Net change in Cash and Cash Equivalents $ (84,504,950) $ (411,890) $ (84,916,840) Cash and Cash Equivalents at beginning of period 99,596,907  —  99,596,907  Cash and Cash Equivalents at end of period $ 15,091,957  $ (411,890) $ 14,680,067  Supplemental Disclosure of Cash Flow Information Interest paid $ 10,206,280  —  $ 10,206,280  Income taxes paid (net of refunds) (635,730) —  (635,730) Non-Cash Investing Activities In-kind consideration for the Grand Isle Gathering System provided as partial consideration for the Crimson Midstream Holdings acquisition $ 48,873,169  —  $ 48,873,169  Crimson Credit Facility assumed and refinanced in connection with the Crimson Midstream Holdings acquisition 105,000,000  —  105,000,000  Equity consideration attributable to non-controlling interest holder in connection with the Crimson Midstream Holdings acquisition 116,205,762  —  116,205,762  Series A preferred stock issued due to internalization transaction 4,245,112  —  4,245,112  Common Stock issued due to internalization transaction 7,096,153  —  7,096,153  Class B Common Stock issued due to internalization transaction 3,288,890  —  3,288,890  Non-Cash Financing Activities Change in accounts payable and accrued expenses related to debt financing costs $ 235,198  —  $ 235,198  Crimson A-2 Units dividends payment in kind 610,353  —  610,353  Assets acquired under financing arrangement —  2,588,520  2,588,520  As of and For the Three Months Ended March 31, 2022 The effects of the restatement on the consolidated balance sheet as of March 31, 2022 are summarized in the following table: March 31, 2022 As Previously Reported Effect of Restatement As Restated Assets Property and equipment, net of accumulated depreciation of $40,964,057 (Crimson VIE: $336,342,641) $ 438,593,056  $ —  $ 438,593,056  Leased property, net of accumulated depreciation of $268,522 1,257,505  —  1,257,505  Financing notes and related accrued interest receivable, net of reserve of $600,000 993,994  —  993,994  Cash and cash equivalents (Crimson VIE: $3,264,738) 13,286,081  (2,043,957) 11,242,124  Accounts and other receivables (Crimson VIE: $8,871,936) 12,954,640  —  12,954,640  Due from affiliated companies (Crimson VIE: $169,968) 169,968  —  169,968  Deferred costs, net of accumulated amortization of $440,986 701,361  —  701,361  Inventory (Crimson VIE: $3,829,532) 3,968,235  —  3,968,235  Prepaid expenses and other assets (Crimson VIE: $5,176,012) 7,795,241  —  7,795,241  Operating right-of-use assets (Crimson VIE: $5,357,343) 5,730,264  —  5,730,264  Deferred tax asset, net 134,072  —  134,072  Goodwill 16,210,020  —  16,210,020  Total Assets $ 501,794,437  $ (2,043,957) $ 499,750,480  Liabilities and Equity Secured credit facilities, net of deferred financing costs of $1,122,820 $ 96,877,181  $ —  $ 96,877,181  Unsecured convertible senior notes, net of discount and debt issuance costs of $2,219,745 115,830,255  —  115,830,255  Accounts payable and other accrued liabilities (Crimson VIE: $7,686,258) 12,986,409  (2,043,957) 10,942,452  Income tax liability 141,226  —  141,226  Due to affiliated companies (Crimson VIE: $423,491 ) 423,491  —  423,491  Operating lease liability (Crimson VIE: $5,044,501) 5,388,922  —  5,388,922  Unearned revenue (Crimson VIE $205,790) 5,885,621  —  5,885,621  Total Liabilities $ 237,533,105  $ (2,043,957) $ 235,489,148  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 March 31, 2022 $ 129,525,675  —  $ 129,525,675  Common stock, non-convertible, $0.001 par value; 14,960,628 shares issued and outstanding at March 31, 2022 (100,000,000 shares authorized) 14,960  —  14,960  Class B Common Stock, $0.001 par value; 683,761 shares issued and outstanding at March 31, 2022 (11,896,100 shares authorized) 684  —  684  Additional paid-in capital 335,376,932  —  335,376,932  Retained deficit (324,853,173) 7,380,138  (317,473,035) Total CorEnergy Equity 140,065,078  7,380,138  147,445,216  Non-controlling interest 124,196,254  (7,380,138) 116,816,116  Total Equity 264,261,332  —  264,261,332  Total Liabilities and Equity $ 501,794,437  $ (2,043,957) $ 499,750,480  The effects of the restatement on the consolidated statement of operations for the three months ended March 31, 2022 are summarized in the following table: For the Three Months Ended March 31, 2022 As Previously Reported Effect of Restatement As Restated Revenue Transportation and distribution $ 29,761,354  $ —  $ 29,761,354  Pipeline loss allowance subsequent sales 2,731,763  —  2,731,763  Lease 34,225  —  34,225  Other 345,009  —  345,009  Total Revenue 32,872,351  —  32,872,351  Expenses Transportation and distribution 13,945,843  —  13,945,843  Pipeline loss allowance subsequent sales cost of revenue 2,192,649  —  2,192,649  General and administrative 5,142,865  —  5,142,865  Depreciation, amortization and ARO accretion 3,976,667  —  3,976,667  Total Expenses 25,258,024  —  25,258,024  Operating Income $ 7,614,327  $ —  $ 7,614,327  Other Income (expense) Other income $ 120,542  $ —  $ 120,542  Interest expense (3,146,855) —  (3,146,855) Total Other Expense (3,026,313) —  (3,026,313) Income before income taxes 4,588,014  —  4,588,014  Taxes Current tax expense 151,044  —  151,044  Deferred tax expense 72,213  —  72,213  Income tax expense, net 223,257  —  223,257  Net Income $ 4,364,757  $ —  $ 4,364,757  Less: Net income attributable to non-controlling interest 2,060,294  (1,251,082) 809,212  Net income attributable to CorEnergy Infrastructure Trust, Inc. $ 2,304,463  $ 1,251,082  $ 3,555,545  Preferred dividend requirements 2,388,130  —  2,388,130  Net income (loss) attributable to Common Stockholders $ (83,667) $ 1,251,082  $ 1,167,415  Common Stock Basic weighted average shares outstanding 15,600,926  (683,761) 14,917,165  Basic net income (loss) per share $ (0.01) $ 0.09  $ 0.08  Diluted weighted average shares outstanding 15,600,926  (218,804) 15,382,122  Diluted net income (loss) per share $ (0.01) $ 0.09  $ 0.08  Class B Common Stock Basic and diluted weighted average shares outstanding —  683,761  683,761  Basic and diluted net income per share $ —  $ 0.03  $ 0.03  Dividends declared per Common share $ 0.050  $ 0.050  The effects of the restatement on the consolidated statement of equity for the three months ended March 31, 2022 are summarized in the following table: Series A Cumulative Redeemable Preferred Stock Common Stock Class B Common Stock Additional Paid-in Capital Retained Deficit Non-controlling Interest Total Amount Shares Amount Shares Amount As Previously Reported Balance at December 31, 2021 $ 129,525,675  14,893,184  $ 14,893  683,761  $ 684  $ 338,302,735  $ (327,157,636) $ 122,945,172  $ 263,631,523  Net income —  —  —  —  —  —  2,304,463  2,060,294  4,364,757  Series A preferred stock dividends —  —  —  —  —  (2,388,130) —  —  (2,388,130) Common Stock dividends —  —  —  —  —  (744,659) —  —  (744,659) Reinvestment of dividends paid to common stockholders —  67,444  67  —  —  206,986  —  —  207,053  Crimson cash dividends on A-1 units —  —  —  —  —  —  —  (809,212) (809,212) Balance at March 31, 2022 (Unaudited) $ 129,525,675  14,960,628  $ 14,960  683,761  $ 684  $ 335,376,932  $ (324,853,173) $ 124,196,254  $ 264,261,332  Restatement Impact Adjustments to 2021 Net Income $ —  —  $ —  —  $ —  $ —  $ 6,129,056  $ (6,129,056) $ —  Net income (loss) —  —  —  —  —  —  1,251,082  (1,251,082) —  Balance at March 31, 2022 (Unaudited) $ —  —  $ —  —  $ —  $ —  $ 7,380,138  $ (7,380,138) $ —  As Restated Balance at December 31, 2021 $ 129,525,675  14,893,184  $ 14,893  683,761  $ 684  $ 338,302,735  $ (321,028,580) $ 116,816,116  $ 263,631,523  Net income —  —  —  —  —  —  3,555,545  809,212  4,364,757  Series A preferred stock dividends —  —  —  —  —  (2,388,130) —  —  (2,388,130) Common Stock dividends —  —  —  —  —  (744,659) —  —  (744,659) Reinvestment of dividends paid to common stockholders —  67,444  67  —  —  206,986  —  —  207,053  Crimson cash dividends on A-1 units —  —  —  —  —  —  —  (809,212) (809,212) Balance at March 31, 2022 (Unaudited) $ 129,525,675  14,960,628  $ 14,960  683,761  $ 684  $ 335,376,932  $ (317,473,035) $ 116,816,116  $ 264,261,332  The effects of the restatement on the consolidated statement of cash flow for the three months ended March 31, 2022 are summarized in the following table: For the Three Months Ended March 31, 2022 As Previously Reported Effect of Restatement As Restated Operating Activities Net income $ 4,364,757  $ —  $ 4,364,757  Adjustments to reconcile net income to net cash provided by (used in) operating activities: Deferred income tax 72,213  —  72,213  Depreciation, amortization and ARO accretion 4,388,927  (412,260) 3,976,667  Amortization of debt issuance costs —  412,260  412,260  Changes in assets and liabilities: —  Accounts and other receivables 2,412,748  (1,391,763) 1,020,985  Inventory (14,712) —  (14,712) Prepaid expenses and other assets 1,601,150  (345,675) 1,255,475  Due from affiliated companies, net 282,032  —  282,032  Accounts payable and other accrued liabilities (4,056,041) (218,915) (4,274,956) Income tax liability 141,226  —  141,226  Operating lease liability (657,735) 657,735  —  Unearned revenue 46,019  —  46,019  Other changes, net —  (312,060) (312,060) Net cash provided by (used in) operating activities $ 8,580,584  $ (1,610,678) $ 6,969,906  Investing Activities Purchases of property and equipment, net (1,098,698) (92,666) (1,191,364) Proceeds from reimbursable projects —  1,478,042  1,478,042  Principal payment on financing note receivable 42,666  —  42,666  Net cash provided by (used in) investing activities $ (1,056,032) $ 1,385,376  $ 329,344  Financing Activities Dividends paid on Series A preferred stock (2,388,130) —  (2,388,130) Dividends paid on Common Stock (744,659) —  (744,659) Reinvestment of Dividends Paid to Common Stockholders 207,053  —  207,053  Distributions to non-controlling interest (809,212) —  (809,212) Advances on revolving line of credit 2,000,000  —  2,000,000  Payments on revolving line of credit (3,000,000) —  (3,000,000) Principal payments on Crimson secured credit facility (2,000,000) —  (2,000,000) Payments on financing arrangement —  (862,754) (862,754) Net cash used in financing activities $ (6,734,948) $ (862,754) $ (7,597,702) Net change in Cash and Cash Equivalents $ 789,604  $ (1,088,056) $ (298,452) Cash and Cash Equivalents at beginning of period 12,496,478  (955,902) 11,540,576  Cash and Cash Equivalents at end of period $ 13,286,082  $ (2,043,958) $ 11,242,124  Supplemental Disclosure of Cash Flow Information Interest paid $ 4,500,333  $ —  $ 4,500,333  Income taxes paid (net of refunds) (716) —  (716) Non-Cash Investing Activities Purchases of property, plant and equipment in accounts payable and other accrued liabilities $ 1,178,271  $ —  $ 1,178,271  Non-Cash Financing Activities Assets acquired under financing arrangement $ —  $ 647,130  $ 647,130  As of and For the Three and Six Months Ended June 30, 2022 The effects of the restatement on the consolidated balance sheet as of June 30, 2022 are summarized in the following table: June 30, 2022 As Previously Reported Effect of Restatement As Restated Assets Property and equipment, net of accumulated depreciation of $44,870,127 (Crimson VIE*: $335,765,423) $ 437,328,908  $ —  $ 437,328,908  Leased property, net of accumulated depreciation of $278,838 1,247,189  —  1,247,189  Financing notes and related accrued interest receivable, net of reserve of $600,000 950,034  —  950,034  Cash and cash equivalents (Crimson VIE: $1,759,070) 17,750,255  (1,418,585) 16,331,670  Accounts and other receivables (Crimson VIE: $8,577,791) 12,571,130  —  12,571,130  Due from affiliated companies (Crimson VIE: $231,105) 231,105  —  231,105  Deferred costs, net of accumulated amortization of $536,197 606,150  —  606,150  Inventory (Crimson VIE: $4,387,216) 4,540,818  —  4,540,818  Prepaid expenses and other assets (Crimson VIE: $3,931,105) 7,240,815  —  7,240,815  Operating right-of-use assets (Crimson VIE: $5,057,314) 5,374,148  —  5,374,148  Deferred tax asset, net 113,625  —  113,625  Goodwill 16,210,020  —  16,210,020  Total Assets $ 504,164,197  $ (1,418,585) $ 502,745,612  Liabilities and Equity Secured credit facilities, net of deferred financing costs of $970,395 $ 96,029,605  $ —  $ 96,029,605  Unsecured convertible senior notes, net of discount and debt issuance costs of $2,055,320 115,994,680  —  115,994,680  Accounts payable and other accrued liabilities (Crimson VIE: $9,854,951) 17,399,201  (1,418,585) 15,980,616  Income tax payable 305,205  —  305,205  Due to affiliated companies (Crimson VIE: $343,105) 343,105  —  343,105  Operating lease liability (Crimson VIE: $4,849,887) 5,138,409  —  5,138,409  Unearned revenue (Crimson VIE $205,790) 6,120,397  —  6,120,397  Total Liabilities $ 241,330,602  $ (1,418,585) $ 239,912,017  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 June 30, 2022 $ 129,525,675  $ —  $ 129,525,675  Common stock, non-convertible, $0.001 par value; 15,060,857 shares issued and outstanding at June 30, 2022 (100,000,000 shares authorized) 15,060  —  15,060  Class B Common Stock, $0.001 par value; 683,761 shares issued and outstanding at June 30, 2022 (11,896,100 shares authorized) 684  —  684  Additional paid-in capital 332,588,181  —  332,588,181  Retained deficit (323,649,718) 7,537,597  (316,112,121) Total CorEnergy Equity 138,479,882  7,537,597  146,017,479  Non-controlling interest 124,353,713  (7,537,597) 116,816,116  Total Equity 262,833,595  —  262,833,595  Total Liabilities and Equity $ 504,164,197  $ (1,418,585) $ 502,745,612  The effects of the restatement on the consolidated statement of operations for the three months ended June 30, 2022 are summarized in the following table: For the Three Months Ended June 30, 2022 As Previously Reported Effect of Restatement As Restated Revenue Transportation and distribution $ 28,112,834  $ —  $ 28,112,834  Pipeline loss allowance subsequent sales 3,074,436  —  3,074,436  Lease 30,825  —  30,825  Other 303,341  —  303,341  Total Revenue 31,521,436  —  31,521,436  Expenses Transportation and distribution 14,263,677  —  14,263,677  Pipeline loss allowance subsequent sales cost of revenue 2,438,987  —  2,438,987  General and administrative 5,276,363  —  5,276,363  Depreciation, amortization and ARO accretion 3,992,314  —  3,992,314  Total Expenses 25,971,341  —  25,971,341  Operating Income $ 5,550,095  $ —  $ 5,550,095  Other Income (expense) Other income $ 136,023  $ —  $ 136,023  Interest expense (3,342,906) —  (3,342,906) Total Other Expense (3,206,883) —  (3,206,883) Income before income taxes 2,343,212  —  2,343,212  Taxes Current tax expense 156,877  —  156,877  Deferred tax expense 16,209  —  16,209  Income tax expense, net 173,086  —  173,086  Net Income $ 2,170,126  $ —  $ 2,170,126  Less: Net income attributable to non-controlling interest 966,671  (157,459) 809,212  Net income attributable to CorEnergy Infrastructure Trust, Inc. $ 1,203,455  $ 157,459  $ 1,360,914  Preferred dividend requirements 2,388,130  —  2,388,130  Net Income (loss) attributable to Common Stockholders $ (1,184,675) $ 157,459  $ (1,027,216) Common Stock Basic weighted average shares outstanding 15,673,703  (683,761) 14,989,942  Basic net loss per share $ (0.08) $ 0.02  $ (0.06) Diluted weighted average shares outstanding 15,673,703  (218,804) 15,454,899  Diluted net loss per share $ (0.08) $ 0.01  $ (0.07) Class B Common Stock Basic and diluted weighted average shares outstanding —  683,761  683,761  Basic and diluted net loss per share $ —  $ (0.11) $ (0.11) Dividends declared per Common share $ 0.050  $ —  $ 0.050  The effects of the restatement on the consolidated statement of operations for the six months ended June 30, 2022 are summarized in the following table: For the Six Months Ended June 30, 2022 As Previously Reported Effect of Restatement As Restated Revenue Transportation and distribution $ 57,874,188  $ —  $ 57,874,188  Pipeline loss allowance subsequent sales 5,806,199  —  5,806,199  Lease 65,050  —  65,050  Other 648,350  —  648,350  Total Revenue 64,393,787  —  64,393,787  Expenses Transportation and distribution 28,209,520  —  28,209,520  Pipeline loss allowance subsequent sales cost of revenue 4,631,636  —  4,631,636  General and administrative 10,419,228  —  10,419,228  Depreciation, amortization and ARO accretion 7,968,981  —  7,968,981  Total Expenses 51,229,365  —  $ 51,229,365  Operating Income $ 13,164,422  $ —  13,164,422  Other Income (expense) Other income $ 256,565  $ —  $ 256,565  Interest expense (6,489,761) —  (6,489,761) Total Other Expense (6,233,196) —  (6,233,196) Income before income taxes 6,931,226  —  6,931,226  Taxes Current tax expense 307,921  —  307,921  Deferred tax expense 88,422  —  88,422  Income tax expense, net 396,343  —  396,343  Net Income $ 6,534,883  $ —  $ 6,534,883  Less: Net income attributable to non-controlling interest 3,026,965  (1,408,541) 1,618,424  Net income attributable to CorEnergy Infrastructure Trust, Inc. $ 3,507,918  $ 1,408,541  $ 4,916,459  Preferred dividend requirements 4,776,260  —  4,776,260  Net Income (loss) attributable to Common Stockholders $ (1,268,342) $ 1,408,541  $ 140,199  Common Stock Basic weighted average shares outstanding 15,637,515  (683,761) 14,953,754  Basic net income (loss) per share $ (0.08) $ 0.09  $ 0.01  Diluted weighted average shares outstanding 15,637,515  (177,468) 15,460,047  Diluted net income (loss) per share $ (0.08) $ 0.09  $ 0.01  Class B Common Stock Basic and diluted weighted average shares outstanding —  683,761  683,761  Basic and diluted net loss per share —  $ (0.09) $ (0.09) Dividends declared per Common share $ 0.100  $ —  $ 0.100  The effects of the restatement on the consolidated statement of equity for the three and nine months ended September 30, 2022 are summarized in the following tables: Series A Cumulative Redeemable Preferred Stock Common Stock Class B Common Stock Additional Paid-in Capital Retained Deficit Non-controlling Interest Total Amount Shares Amount Shares Amount As Previously Reported Balance at June 30, 2022 (Unaudited) $ 129,525,675  15,060,857  $ 15,060  683,761  $ 684  $ 332,588,181  $ (323,649,718) $ 124,353,713  $ 262,833,595  Net income (loss) —  —  —  —  —  —  (16,102,752) 601,048  (15,501,704) Series A preferred stock dividends —  —  —  —  —  (2,388,130) —  —  (2,388,130) Common Stock dividends —  —  —  —  —  (753,043) —  —  (753,043) Reinvestment of dividends paid to common stockholders —  84,606  85  —  —  197,895  —  —  197,980  Common Stock, accrued dividend equivalent —  —  —  —  —  (34,145) —  —  (34,145) Crimson cash distribution on Class A-1 Units —  —  —  —  —  —  —  (809,212) (809,212) Stock-based compensation —  31,448  32  —  —  185,291  —  47,701  233,024  Balance at September 30, 2022 (Unaudited) $ 129,525,675  15,176,911  $ 15,177  683,761  $ 684  $ 329,796,049  $ (339,752,470) $ 124,193,250  $ 243,778,365  Restatement Impact Adjustments to 2021 Net Income (loss) $ —  —  $ —  —  $ —  $ —  $ 6,129,056  $ (6,129,056) —  Adjustments to Q1 - Q2 2022 Net Income (loss) —  —  —  —  —  —  1,408,541  (1,408,541) —  Net income (loss) —  —  —  —  —  —  (208,164) 208,164  —  Balance at September 30, 2022 (Unaudited) $ —  —  $ —  —  $ —  $ —  $ 7,329,433  $ (7,329,433) $ —  As Restated Balance at June 30, 2022 (Unaudited) $ 129,525,675  15,060,857  $ 15,060  683,761  $ 684  $ 332,588,181  $ (316,112,121) $ 116,816,116  $ 262,833,595  Net income (loss) —  —  —  —  —  —  (16,310,916) 809,212  (15,501,704) Series A preferred stock dividends —  —  —  —  —  (2,388,130) —  —  (2,388,130) Common Stock dividends —  —  —  —  —  (753,043) —  —  (753,043) Reinvestment of dividends paid to common stockholders —  84,606  85  —  —  197,895  —  —  197,980  Common Stock, accrued dividend equivalent —  —  —  —  —  (34,145) —  —  (34,145) Crimson cash distribution on Class A-1 Units —  —  —  —  —  —  —  (809,212) (809,212) Stock-based compensation —  31,448  32  —  —  185,291  —  47,701  233,024  Balance at September 30, 2022 (Unaudited) $ 129,525,675  15,176,911  $ 15,177  683,761  $ 684  $ 329,796,049  $ (332,423,037) $ 116,863,817  $ 243,778,365  Series A Cumulative Redeemable Preferred Stock Common Stock Class B Common Stock Additional Paid-in Capital Retained Deficit Non-controlling Interest Total Amount Shares Amount Shares Amount As Previously Reported Balance at December 31, 2021 $ 129,525,675  14,893,184  $ 14,893  683,761  $ 684  $ 338,302,735  $ (327,157,636) $ 122,945,172  $ 263,631,523  Net income (loss) —  —  —  —  —  —  (12,594,834) 3,628,013  (8,966,821) Series A preferred stock dividends —  —  —  —  —  (7,164,390) —  —  (7,164,390) Common stock dividends —  —  —  —  —  (2,245,733) —  —  (2,245,733) Reinvestment of dividends paid to common stockholders —  221,362  221  —  —  600,963  —  —  601,184  Common Stock, accrued dividend equivalent —  —  —  —  —  (34,145) —  —  (34,145) Crimson cash dividends on Class A-1 units —  —  —  —  —  —  —  (2,427,636) (2,427,636) Stock-based Compensation —  62,365  63  —  —  336,619  —  47,701  384,383  Balance at September 30, 2022 (Unaudited) $ 129,525,675  15,176,911  $ 15,177  683,761  $ 684  $ 329,796,049  $ (339,752,470) $ 124,193,250  $ 243,778,365  Restatement Impact Adjustments to 2021 Net Income (loss) $ —  —  $ —  —  $ —  $ —  $ 6,129,056  $ (6,129,056) $ —  Net income (loss) —  —  —  —  —  —  1,200,377  (1,200,377) —  Balance at September 30, 2022 (Unaudited) $ —  —  $ —  —  $ —  $ —  $ 7,329,433  $ (7,329,433) $ —  As Restated Balance at December 31, 2021 $ 129,525,675  14,893,184  $ 14,893  683,761  $ 684  $ 338,302,735  $ (321,028,580) $ 116,816,116  $ 263,631,523  Net income (loss) —  —  —  —  —  —  (11,394,457) 2,427,636  (8,966,821) Series A preferred stock dividends —  —  —  —  —  (7,164,390) —  —  (7,164,390) Common Stock dividends —  —  —  —  —  (2,245,733) —  —  (2,245,733) Reinvestment of dividends paid to common stockholders —  221,362  221  —  —  600,963  —  —  601,184  Common Stock, accrued dividend equivalent —  —  —  —  —  (34,145) —  —  (34,145) Crimson cash distribution on Class A-1 Units —  —  —  —  —  —  —  (2,427,636) (2,427,636) Stock-based compensation —  62,365  63  —  —  336,619  —  47,701  384,383  Balance at September 30, 2022 (Unaudited) $ 129,525,675  15,176,911  $ 15,177  683,761  $ 684  $ 329,796,049  $ (332,423,037) $ 116,863,817  $ 243,778,365  The effects of the restatement on the consolidated statement of cash flow for the nine months ended September 30, 2022 are summarized in the following table: For the Nine Months Ended September 30, 2022 As Previously Reported Effect of Restatement As Restated Operating Activities Net loss $ (8,966,821) $ —  $ (8,966,821) Adjustments to reconcile net loss to net cash provided by operating activities: Deferred income tax 94,604  —  94,604  Depreciation, amortization and ARO accretion 11,997,781  —  11,997,781  Amortization of debt issuance costs 1,236,178  —  1,236,178  Loss on impairment of goodwill 16,210,020  —  16,210,020  Gain on sale of equipment (39,678) —  (39,678) Stock-based compensation 384,383  —  384,383  Changes in assets and liabilities: Accounts and other receivables 2,715,207  —  2,715,207  Inventory (2,050,514) —  (2,050,514) Prepaid expenses and other assets 4,296,890  (2,514,429) 1,782,460  Due from affiliated companies, net 209,943  —  209,943  Accounts payable and other accrued liabilities 1,213,961  1,815,664  3,029,625  Income tax liability 344,630  —  344,630  Operating lease liability (1,094,766) 1,094,766  —  Unearned revenue 151,295  —  151,295  Other changes, net —  (100,855) (100,855) Net cash provided by operating activities $ 26,703,113  $ 295,146  $ 26,998,258  Investing Activities Purchases of property and equipment (7,759,603) —  (7,759,603) Proceeds from reimbursable projects 2,385,858  —  2,385,858  Proceeds from sale of property and equipment 55,075  —  55,075  Principal payment on financing note receivable 131,917  —  131,917  Net cash used in investing activities $ (5,186,753) $ —  $ (5,186,753) Financing Activities Dividends paid on Series A preferred stock (7,164,390) —  (7,164,390) Dividends paid on Common Stock (1,644,549) —  (1,644,549) For the Nine Months Ended September 30, 2022 As Previously Reported Effect of Restatement As Restated Distributions to non-controlling interest (2,427,636) —  (2,427,636) Advances on revolving line of credit 9,000,000  —  9,000,000  Payments on revolving line of credit (4,000,000) —  (4,000,000) Principal payments on Crimson secured credit facility (6,000,000) —  (6,000,000) Proceeds from financing arrangement —  1,520,517  1,520,517  Payments on financing arrangement —  (1,987,382) (1,987,382) Net cash used in financing activities $ (12,236,575) $ (466,865) $ (12,703,440) Net change in Cash and Cash Equivalents 9,279,785  (171,719) 9,108,065  Cash and Cash Equivalents at beginning of period 12,496,478  (955,902) 11,540,576  Cash and Cash Equivalents at end of period $ 21,776,263  $ (1,127,621) $ 20,648,641  Supplemental Disclosure of Cash Flow Information Interest paid $ 8,802,697  $ —  $ 8,802,697  Income taxes paid (net of refunds) (12,055) —  (12,055) Non-Cash Investing Activities Purchases of property, plant and equipment in accounts payable and other accrued liabilities $ 2,249,585  $ —  $ 2,249,585  Non-Cash Financing Activities Reinvestment of Dividends Paid to Common Stockholders $ 601,184  $ —  $ 601,184  Dividend equivalents accrued on RSUs 34,145  —  34,145  Assets acquired under financing arrangement —  307,312  307,312  As described in Note 20 ("Restatement Of Prior Period"), the Company previously reported earnings per share for its Common Stock and Class B Common Stock on a combined basis, however, beginning with the quarter ended September 30, 2021 when the Class B Common Stock was first issued it should have reported earnings per share using the two-class method, under which earnings per share for its Common Stock and Class B Common Stock should have been separately calculated and reported, during these periods. Additionally, due to the error in calculating net income allocable to non-controlling interest that is further described in Note 20 ("Restatement Of Prior Period"), the numerator used in calculating earnings per share was incorrect beginning with the quarter ended March 31, 2021. The tables below present the restated basic and diluted earnings (loss) per share for the impacted interim periods for the years 2022 and 2021. RESTATED LOSS PER SHARE FOR THE THREE MONTHS ENDED MARCH 31, 2021 LOSS PER SHARE For the Three Months Ended March 31, 2021 Net Loss (10,694,263) Less: Preferred dividend requirements(1) 2,309,672  Net Loss attributable to Common Stockholders $ (13,003,935) Numerator for basic and diluted net loss per Common Stock share $ (13,003,935) Weighted average shares - basic and diluted 13,651,521  Basic and diluted loss per share $ (0.95) (1) For the three months ended March 31, 2021, 2,361,000 shares of Common Stock are excluded from the computation of diluted net earnings per share because their effect would be antidilutive. These shares are related to the 5.875% Convertible Debt. RESTATED LOSS PER SHARE FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2021 LOSS PER SHARE For the Three Months Ended For the Six Months Ended June 30, 2021 June 30, 2021 Net Income (Loss) 2,427,409  (8,266,854) Less: Net income attributable to non-controlling interest 1,010,951  1,010,951  Less: Preferred dividend requirements(1) 2,309,672  4,619,344  Net Loss attributable to Common Stockholders $ (893,214) $ (13,897,149) Numerator for basic and diluted net loss per Common Stock share $ (893,214) $ (13,897,149) Weighted average shares - basic and diluted 13,659,667  13,655,617  Basic and diluted Loss per share $ (0.07) $ (1.02) (1) For the three and six months ended June 30, 2021, 2,361,000 shares of Common Stock are excluded from the computation of diluted net earnings per share because their effect would be antidilutive. These shares are related to the 5.875% Convertible Debt. RESTATED EARNINGS (LOSS) PER SHARE FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2021 EARNINGS (LOSS) PER SHARE For the Three Months Ended For the Nine Months Ended September 30, 2021 September 30, 2021 Numerator for basic and diluted earnings per Common Stock and Class B Common Stock share: Net Income (Loss) $ 5,919,971  $ (2,346,883) Less: Net Income attributable to non-controlling interests 1,046,304  2,057,255  Net Income (Loss) attributable to CorEnergy Infrastructure Trust, Inc. 4,873,667  (4,404,138) Less dividends / distributions: Preferred dividend requirements 2,388,130  7,007,474  Common Stock dividends 741,530  2,106,681  Total undistributed earnings (losses) $ 1,744,007  $ (13,518,293) Common Stock undistributed earnings (losses) - basic $ 1,670,907  $ (13,311,613) Class B Common Stock undistributed earnings (losses) - basic 73,100  (206,680) Total undistributed earnings (losses) - basic $ 1,744,007  $ (13,518,293) Common Stock undistributed earnings (losses) - diluted $ 1,744,007  $ (13,311,613) Class B Common Stock undistributed earnings (losses) - diluted 73,100  (206,680) Total undistributed earnings (losses) - diluted $ 1,817,107  $ (13,518,293) Common Stock dividends $ 741,530  $ 2,106,681  Common Stock undistributed earnings (loss) - basic 1,670,907  (13,311,613) Numerator for basic net earnings (loss) per Common Stock share $ 2,412,437  $ (11,204,932) Class B Common Stock dividends $ —  $ —  Class B Common Stock undistributed earnings (loss) - basic 73,100  (206,680) Numerator for basic net earnings (loss) per Class B Common Stock share $ 73,100  $ (206,680) Common Stock dividends $ 741,530  $ 2,106,681  Common Stock undistributed earnings (loss) - diluted 1,744,007  (13,311,613) Numerator for diluted net earnings (loss) per Common Stock share $ 2,485,537  $ (11,204,932) Class B Common Stock dividends $ —  $ —  Class B Common Stock undistributed earnings - diluted 73,100  (206,680) Numerator for diluted net earnings (loss) per Class B Common Stock share $ 73,100  $ (206,680) Denominator for basic net earnings (loss) per Common Stock and Class B Common Stock share: Common Stock weighted average shares outstanding - basic 14,779,625  14,034,403  Class B Common Stock weighted average shares outstanding - basic 646,600  217,902  Denominator for diluted net earnings (loss) per Common Stock and Class B Common Stock share: Common Stock weighted average shares outstanding - diluted(1)(2) 15,244,582  14,034,403  Class B Common Stock weighted average shares outstanding - diluted(3) 646,600  217,902  Basic net earnings (loss) per share: Common Stock $ 0.16  $ (0.80) Class B Common Stock $ 0.11  $ (0.95) Diluted net earnings (loss) per share: Common Stock $ 0.16  $ (0.80) Class B Common Stock $ 0.11  $ (0.95) NOTES TO TABLE (1) For purposes of the diluted net loss per share computation for Common Stock, all shares of Class B Common Stock are assumed to be converted at a ratio of 1 Class B Common Stock share to .68 Common Stock share; therefore, 100% of undistributed earnings (losses) is allocated to Common Stock. (2) For the three months ended September 30, 2021, 2,361,000 shares of Common Stock are excluded from the computation of diluted net earnings per share because their effect would be antidilutive. These shares are related to the 5.875% Convertible Debt. For the nine months ended September 30, 2021, 2,825,957 shares of Common Stock are excluded from the computation of diluted net loss per share because their effect would be antidilutive. This is comprised of 464,957 shares of converted Class B Common Stock and 2,361,000 shares of the converted 5.875% convertible debt. (3) For purposes of the diluted net earnings (loss) per share computation for Class B Common Stock, weighted average shares of Class B Common Stock are assumed not converted to Common Stock. RESTATED EARNINGS PER SHARE FOR THE THREE MONTHS ENDED MARCH 31, 2022 EARNINGS PER SHARE For the Three Months Ended March 31, 2022 Numerator for basic and diluted earnings per Common Stock and Class B Common Stock share: Net Income $ 4,364,757  Less: Net income attributable to non-controlling interests 809,212  Net income attributable to CorEnergy Infrastructure Trust, Inc. 3,555,545  Less dividends / distributions: Preferred dividend requirements 2,388,130  Common Stock dividends 744,659  Total undistributed earnings $ 422,756  Common Stock undistributed earnings - basic $ 404,227  Class B Common Stock undistributed earnings - basic 18,529  Total undistributed earnings - basic $ 422,756  Common Stock undistributed earnings - diluted $ 422,756  Class B Common Stock undistributed earnings - diluted 18,529  Total undistributed earnings - diluted $ 441,285  Common Stock dividends $ 744,659  Common Stock undistributed earnings - basic 404,227  Numerator for basic net earnings per Common Stock share $ 1,148,886  Class B Common Stock dividends $ —  Class B Common Stock undistributed earnings - basic 18,529  Numerator for basic net earnings per Class B Common Stock share $ 18,529  Common Stock dividends $ 744,659  Common Stock undistributed earnings - diluted 422,756  Numerator for diluted net earnings per Common Stock share $ 1,167,415  Class B Common Stock dividends $ —  Class B Common Stock undistributed earnings - diluted 18,529  Numerator for diluted net earnings per Class B Common Stock share $ 18,529  Denominator for basic net earnings per Common Stock and Class B Common Stock share: Common Stock weighted average shares outstanding - basic 14,917,165  Class B Common Stock weighted average shares outstanding - basic 683,761  Denominator for diluted net earnings per Common Stock and Class B Common Stock share: Common Stock weighted average shares outstanding - diluted(1)(2) 15,382,122  Class B Common Stock weighted average shares outstanding - diluted(3) 683,761  Basic net earnings per share: Common Stock $ 0.08  Class B Common Stock $ 0.03  Diluted net earnings per share: Common Stock $ 0.08  Class B Common Stock $ 0.03  NOTES TO TABLE (1) For purposes of the diluted net earnings per share computation for Common Stock, all shares of Class B Common Stock are assumed to be converted at a ratio of 1 Class B Common Stock share to .68 Common Stock share; therefore, 100% of undistributed earnings is allocated to Common Stock. (2) For the three months ended March 31, 2022, 2,361,000 shares of Common Stock are excluded from the computation of diluted net earnings per share because their effect would be antidilutive. These shares are related to the 5.875% Convertible Debt. (3) For purposes of the diluted net earnings per share computation for Class B Common Stock, weighted average shares of Class B Common Stock are assumed not converted to Common Stock. RESTATED EARNINGS (LOSS) PER SHARE FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2022 EARNINGS (LOSS) PER SHARE For the Three Months Ended For the Six Months Ended June 30, 2022 June 30, 2022 Numerator for basic and diluted earnings per Common Stock and Class B Common Stock share: Net Income $ 2,170,126  $ 6,534,883  Less: Net income attributable to non-controlling interests 809,212  1,618,424  Net income attributable to CorEnergy Infrastructure Trust, Inc. 1,360,914  4,916,459  Less dividends / distributions: Preferred dividend requirements 2,388,130  4,776,260  Common Stock dividends 748,031  1,492,690  Total undistributed earnings $ (1,775,247) $ (1,352,491) Common Stock undistributed earnings - basic $ (1,697,802) $ (1,293,352) Class B Common Stock undistributed earnings - basic (77,445) (59,139) Total undistributed earnings - basic $ (1,775,247) $ (1,352,491) Common Stock undistributed earnings - diluted $ (1,775,247) $ (1,352,491) Class B Common Stock undistributed earnings - diluted (77,445) (59,139) Total undistributed earnings - diluted $ (1,852,692) $ (1,411,630) Common Stock dividends $ 748,031  $ 1,492,690  Common Stock undistributed earnings - basic (1,697,802) (1,293,352) Numerator for basic net earnings per Common Stock share $ (949,771) $ 199,338  Class B Common Stock dividends $ —  $ —  Class B Common Stock undistributed earnings - basic (77,445) (59,139) Numerator for basic net earnings per Class B Common Stock share $ (77,445) $ (59,139) Common Stock dividends $ 748,031  $ 1,492,690  Common Stock undistributed earnings - diluted (1,775,247) (1,352,491) Numerator for diluted net earnings per Common Stock share $ (1,027,216) $ 140,199  Class B Common Stock dividends $ —  $ —  Class B Common Stock undistributed earnings - diluted (77,445) (59,139) Numerator for diluted net earnings per Class B Common Stock share $ (77,445) $ (59,139) Denominator for basic net earnings per Common Stock and Class B Common Stock share: Common Stock weighted average shares outstanding - basic 14,989,942  14,953,754  Class B Common Stock weighted average shares outstanding - basic 683,761  683,761  Denominator for diluted net earnings per Common Stock and Class B Common Stock share: Common Stock weighted average shares outstanding - diluted(1)(2) 15,454,899  15,460,047  Class B Common Stock weighted average shares outstanding - diluted(3) 683,761  683,761  Basic net earnings (loss) per share: Common Stock $ (0.06) $ 0.01  Class B Common Stock $ (0.11) $ (0.09) Diluted net earnings (loss) per share: Common Stock $ (0.07) $ 0.01  Class B Common Stock $ (0.11) $ (0.09) NOTES TO TABLE (1) For purposes of the diluted net earnings (loss) per share computation for Common Stock, all shares of Class B Common Stock are assumed to be converted at a ratio of 1 Class B Common Stock share to .68 Common Stock share; therefore, 100% of undistributed earnings (losses) is allocated to Common Stock. (2) For the three and sixth months ended June 30, 2022, 2,361,000 shares of Common Stock are excluded from the computation of diluted net loss per share because their effect would be antidilutive. These shares are related to the 5.875% Convertible Debt. (3) For purposes of the diluted net loss per share computation for Class B Common Stock, weighted average shares of Class B Common Stock are assumed not converted to Common Stock. RESTATED LOSS PER SHARE FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2022 LOSS PER SHARE For the Three Months Ended For the Nine Months Ended September 30, 2022 September 30, 2022 Numerator for basic and diluted earnings per Common Stock and Class B Common Stock share: Net Loss $ (15,501,704) $ (8,966,821) Less: Net income attributable to non-controlling interests 809,212  2,427,636  Net Loss attributable to CorEnergy Infrastructure Trust, Inc. (16,310,916) (11,394,457) Less dividends / distributions: Preferred dividend requirements 2,388,130  7,164,390  Common Stock dividends 753,043  2,245,733  Total undistributed earnings $ (19,452,089) $ (20,804,580) Common Stock undistributed earnings - basic $ (18,608,864) $ (19,897,543) Class B Common Stock undistributed earnings - basic (843,225) (907,037) Total undistributed earnings - basic $ (19,452,089) $ (20,804,580) Common Stock undistributed earnings - diluted $ (19,452,089) $ (20,804,580) Class B Common Stock undistributed earnings - diluted (843,225) (907,037) Total undistributed earnings - diluted $ (20,295,314) $ (21,711,617) Common Stock dividends $ 753,043  $ 2,245,733  Common Stock undistributed earnings - basic (18,608,864) (19,897,543) Numerator for basic net earnings per Common Stock share $ (17,855,821) $ (17,651,810) Class B Common Stock dividends $ —  $ —  Class B Common Stock undistributed earnings - basic (843,225) (907,037) Numerator for basic net earnings per Class B Common Stock share $ (843,225) $ (907,037) Common Stock dividends $ 753,043  $ 2,245,733  Common Stock undistributed earnings - diluted (19,452,089) (20,804,580) Numerator for diluted net earnings per Common Stock share $ (18,699,046) $ (18,558,847) Class B Common Stock dividends $ —  $ —  Class B Common Stock undistributed earnings - diluted (843,225) (907,037) Numerator for diluted net earnings per Class B Common Stock share $ (843,225) $ (907,037) Denominator for basic net earnings per Common Stock and Class B Common Stock share: Common Stock weighted average shares outstanding - basic 15,089,708  14,999,570  Class B Common Stock weighted average shares outstanding - basic 683,761  683,761  Denominator for diluted net earnings per Common Stock and Class B Common Stock share: Common Stock weighted average shares outstanding - diluted(1)(2) 15,554,665  15,464,527  Class B Common Stock weighted average shares outstanding - diluted(3) 683,761  683,761  Basic net loss per share: Common Stock $ (1.18) $ (1.18) Class B Common Stock $ (1.23) $ (1.33) Diluted net loss per share: Common Stock $ (1.20) $ (1.20) Class B Common Stock $ (1.23) $ (1.33) NOTES TO TABLE (1) For purposes of the diluted net loss per share computation for Common Stock, all shares of Class B Common Stock are assumed to be converted at a ratio of 1 Class B Common Stock share to .68 Common Stock share; therefore, 100% of undistributed earnings (losses) is allocated to Common Stock. (2) For the three and nine months ended September 30, 2022, 2,361,000 shares of Common Stock are excluded from the computation of diluted net loss per share because their effect would be antidilutive. These shares are related to the 5.875% Convertible Debt. (3) For purposes of the diluted net earnings (loss) per share computation for Class B Common Stock, weighted average shares of Class B Common Stock are assumed not converted to Common Stock.