Annual report pursuant to Section 13 and 15(d)

RESTATEMENT OF PRIOR PERIOD - Consolidated Balance Sheets (Details)

v3.23.1
RESTATEMENT OF PRIOR PERIOD - Consolidated Balance Sheets (Details) - USD ($)
 3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Jun. 30, 2022
Jun. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Jun. 30, 2020
Dec. 31, 2019
Jan. 27, 2015
Assets                        
Property, plant, and equipment, after accumulated depreciation $ 438,593,056 $ 441,213,095 $ 437,328,908 $ 443,457,382 $ 438,249,633 $ 445,250,237 $ 440,148,967 $ 441,430,193        
Property investment, net of accumulated depreciation 1,257,505 1,298,763 1,247,189 1,288,449 1,236,873 1,278,135 1,226,565 1,267,821        
Financing notes and related accrued interest receivable, net 993,994 1,183,950 950,034 1,149,245 904,743 1,078,072 858,079 1,036,660        
Cash and cash equivalents 11,242,124 17,661,114 16,331,670 17,147,222 20,648,642 14,680,067 17,830,482 11,540,576        
Accounts and other receivables 12,954,640 15,275,036 12,571,130 14,389,085 10,609,744 14,573,047 14,164,525 15,367,389        
Due from affiliates 169,968 827,264 231,105 1,163,633 94,994 953,806 167,743 676,825        
Deferred costs, net of accumulated amortization 701,361 1,082,205 606,150 986,994 510,939 891,783 415,727 796,572        
Inventory 3,968,235 1,795,688 4,540,818 1,625,464 6,004,037 3,342,111 5,950,051 3,953,523        
Prepaid expense and other assets 7,795,241 8,424,488 7,240,815 10,939,625 5,699,079 10,550,792 9,478,146 9,075,043        
Operating lease right-of-use asset 5,730,264 6,175,414 5,374,148 5,914,710 5,082,028 6,433,505 4,722,361 6,075,939        
Deferred tax asset, net 134,072 4,308,976 113,625 4,173,754 111,681 4,060,239 0 206,285        
Goodwill 16,210,020 1,718,868 16,210,020 1,718,868 0 16,210,020 0 16,210,020 $ 1,718,868      
Total Assets 499,750,480 500,964,861 502,745,612 503,954,431 489,152,393 519,301,814 494,962,646 507,636,846        
Liabilities and Equity                        
Secured credit facilities, net of debt issuance cost 96,877,181 103,267,485 96,029,605 104,419,909 99,182,028 102,572,333 100,334,453 99,724,756        
Unsecured convertible senior notes, net of discount and debt issuance costs 115,830,255 115,172,555 115,994,680 115,336,979 116,159,105 115,501,404 116,323,530 115,665,830        
Accounts payable and other accrued liabilities 10,942,452 16,731,828 15,980,616 20,232,095 18,469,049 20,489,468 26,316,216 16,080,162        
Due to affiliated companies 423,491 2,053,170 343,105 979,603 276,428 765,228 209,750 648,316        
Operating lease liability 5,388,922 5,800,866 5,138,409 5,651,002 4,951,891 6,281,014 4,696,410 6,046,657        
Unearned revenue 5,885,621 6,294,359 6,120,397 6,147,990 5,990,897 6,001,622 5,948,621 5,839,602        
Total Liabilities 235,489,148 249,928,509 239,912,017 253,072,348 245,374,028 251,644,096 255,296,129 244,005,323        
Equity                        
Common stock   13,652                    
Additional paid-in capital 335,376,932 336,750,132 332,588,181 333,890,657 329,796,049 341,331,070 327,016,573 338,302,735        
Retained deficit (317,473,035) (326,320,818) (316,112,121) (324,904,359) (332,423,037) (320,030,693) (333,785,097) (321,028,580)        
Total CorEnergy Equity 147,445,216 135,713,316 146,017,479 134,270,321 126,914,548 150,841,602 122,773,089 146,815,407        
Non-controlling Interest 116,816,116 115,323,036 116,816,116 116,611,762 116,863,817 116,816,116 116,893,428 116,816,116        
Total Equity 264,261,332 251,036,352 262,833,595 250,882,083 243,778,365 267,657,718 239,666,517 263,631,523 149,399,827   $ 476,739,439  
Total Liabilities and Equity 499,750,480 500,964,861 502,745,612 503,954,431 489,152,393 519,301,814 494,962,646 507,636,846        
Leased property, accumulated depreciation 268,522   278,838 237,579 289,154 247,893 299,463 258,207        
Reserve for financing notes and related accrued interest receivable 600,000 600,000 600,000 600,000 600,000 600,000 600,000 600,000        
Deferred costs, accumulated amortization 440,986   536,197 155,353 631,408 250,564 726,619 345,775        
Debt issuance costs 1,122,820 1,732,515 970,395 1,580,091 817,972 1,427,667 $ 665,547 1,275,244   $ 132,000    
Unamortized discount and debt issuance costs 2,219,745 $ 2,877,445 2,055,320 2,713,020 1,890,895 2,548,595            
Preferred stock, par value (in dollars per share)             $ 0.001          
Preferred stock, shares authorized             69,367,000,000,000          
Preferred stock, shares outstanding             51,810          
Common stock, par value (in dollars per share)   $ 0.001                    
Common stock, shares issued   13,651,521                    
Common stock, shares outstanding   13,651,521                    
Common stock, shares authorized   100,000,000                    
Convertible Debt                        
Equity                        
Unamortized discount and debt issuance costs             $ 1,726,470 2,384,170        
VIE                        
Assets                        
Property, plant, and equipment, after accumulated depreciation 336,342,641 $ 335,865,029 335,765,423 338,930,724 337,470,077 341,422,699 340,205,058 338,452,392        
Cash and cash equivalents 3,264,738   1,759,070 2,989,319 2,009,787 3,717,809 1,874,319 2,825,902        
Accounts and other receivables 8,871,936 10,828,844 8,577,791 11,434,113 7,654,757 11,426,137 10,343,769 11,291,749        
Due from affiliates 169,968 827,264 231,105 1,163,633 94,994 953,806 167,743 676,825        
Inventory 3,829,532 1,690,158 4,387,216 1,512,398 5,859,262 3,229,161 5,804,776 3,839,865        
Prepaid expense and other assets 5,176,012 6,313,679 3,931,105 4,018,467 3,946,389 5,159,383 3,414,372 5,004,566        
Operating lease right-of-use asset 5,357,343 6,097,344 5,057,314 5,844,591 4,755,606 5,950,501 4,452,210 5,647,631        
Liabilities and Equity                        
Accounts payable and other accrued liabilities 7,686,258 13,046,352 9,854,951 11,454,583 13,819,708 14,005,086 16,889,980 10,699,806        
Due to affiliated companies 423,491 1,637,540 343,105 979,603 276,428 765,228 209,750 648,316        
Operating lease liability 5,044,501 5,752,045 4,849,887 5,609,946 4,653,594 5,826,885 4,454,196 5,647,036        
Unearned revenue 205,790 315,000 205,790 315,000 205,790 315,000 203,725 199,405        
Property, Plant and Equipment, Other Types                        
Equity                        
Property, plant, and equipment, accumulated depreciation 40,964,057   44,870,127 28,973,654 48,864,283 32,592,641 52,908,191 37,022,035        
Series A Cumulative Redeemable Preferred Stock                        
Equity                        
Series A Cumulative Redeemable Preferred Stock 7.375% $ 129,525,675 $ 125,270,350 $ 129,525,675 $ 125,270,350 $ 129,525,675 $ 129,525,675 $ 129,525,675 $ 129,525,675        
Preferred stock interest rate 7.375% 7.375% 7.375% 7.375% 7.375% 7.375% 7.375% 7.375%        
Preferred stock, liquidation preference $ 129,525,675 $ 125,270,350 $ 129,525,675 $ 125,270,350 $ 129,525,675 $ 129,525,675 $ 129,525,675 $ 129,525,675        
Preferred stock, liquidation preference (in dollars per share) $ 2,500 $ 2,500 $ 2,500 $ 2,500 $ 2,500 $ 2,500 $ 2,500 $ 2,500        
Preferred stock, par value (in dollars per share) $ 0.001 $ 0.001 $ 0.001 $ 0.001 $ 0.001 $ 0.001 $ 0.001 $ 0.001        
Preferred stock, shares authorized               69,367,000        
Preferred stock, shares issued 51,810 50,108 51,810 50,108 51,810 51,810 51,810 51,810       22,500
Preferred stock, shares outstanding 51,810 50,108 51,810 50,108 51,810 51,810 51,810 51,810        
Common stock, par value (in dollars per share)             $ 0.001          
Non-Convertible Common Stock                        
Equity                        
Common stock $ 14,960   $ 15,060 $ 13,673 $ 15,177 $ 14,866 $ 15,254 $ 14,893        
Common stock, par value (in dollars per share) $ 0.001   $ 0.001 $ 0.001 $ 0.001 $ 0.001 $ 0.001 $ 0.001        
Common stock, shares issued 14,960,628   15,060,857 13,673,326 15,176,911 14,866,799 15,253,958 14,893,184        
Common stock, shares outstanding 14,960,628   15,060,857 13,673,326 15,176,911 14,866,799 15,253,958 14,893,184        
Common stock, shares authorized 100,000,000   100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000        
Common Class B                        
Equity                        
Common stock $ 684   $ 684   $ 684 $ 684 $ 684 $ 684        
Common stock, par value (in dollars per share) $ 0.001   $ 0.001   $ 0.001 $ 0.001 $ 0.001 $ 0.001        
Common stock, shares issued 683,761   683,761   683,761 683,761 683,761 683,761        
Common stock, shares outstanding 683,761   683,761   683,761 683,761 683,761 683,761        
Common stock, shares authorized 11,896,100   11,896,100   11,896,100 11,896,100 11,896,100 11,896,100        
As Previously Reported                        
Assets                        
Property, plant, and equipment, after accumulated depreciation $ 438,593,056 $ 441,213,095 $ 437,328,908 $ 443,457,382 $ 438,249,633 $ 445,250,237   $ 441,430,193        
Property investment, net of accumulated depreciation 1,257,505 1,298,763 1,247,189 1,288,449 1,236,873 1,278,135   1,267,821        
Financing notes and related accrued interest receivable, net 993,994 1,183,950 950,034 1,149,245 904,743 1,078,072   1,036,660        
Cash and cash equivalents 13,286,081 18,839,994 17,750,255 17,695,458 21,776,263 15,091,957   12,496,478        
Accounts and other receivables 12,954,640 15,275,036 12,571,130 14,389,085 10,609,744 14,573,047   15,367,389        
Due from affiliates 169,968 827,264 231,105 1,163,633 94,994 953,806   676,825        
Deferred costs, net of accumulated amortization 701,361 1,082,205 606,150 986,994 510,939 891,783   796,572        
Inventory 3,968,235 1,795,688 4,540,818 1,625,464 6,004,037 3,342,111   3,953,523        
Prepaid expense and other assets 7,795,241 8,424,488 7,240,815 10,939,625 5,699,079 10,550,792   9,075,043        
Operating lease right-of-use asset 5,730,264 6,175,414 5,374,148 5,914,710 5,082,028 6,433,505   6,075,939        
Deferred tax asset, net 134,072 4,308,976 113,625 4,173,754 111,681 4,060,239   206,285        
Goodwill 16,210,020 1,718,868 16,210,020 1,718,868 0 16,210,020   16,210,020        
Total Assets 501,794,437 502,143,741 504,164,197 504,502,667 490,280,014 519,713,704   508,592,748        
Liabilities and Equity                        
Secured credit facilities, net of debt issuance cost 96,877,181 103,267,485 96,029,605 104,419,909 99,182,028 102,572,333   99,724,756        
Unsecured convertible senior notes, net of discount and debt issuance costs 115,830,255 115,172,555 115,994,680 115,336,979 116,159,105 115,501,404   115,665,830        
Accounts payable and other accrued liabilities 12,986,409 17,910,708 17,399,201 20,780,331 19,596,670 20,901,358   17,036,064        
Due to affiliated companies 423,491 2,053,170 343,105 979,603 276,428 765,228   648,316        
Operating lease liability 5,388,922 5,800,866 5,138,409 5,651,002 4,951,891 6,281,014   6,046,657        
Unearned revenue 5,885,621 6,294,359 6,120,397 6,147,990 5,990,897 6,001,622   5,839,602        
Total Liabilities 237,533,105 251,107,389 241,330,602 253,620,584 246,501,649 252,055,986   244,961,225        
Equity                        
Common stock   13,652                    
Additional paid-in capital 335,376,932 336,750,132 332,588,181 333,890,657 329,796,049 341,331,070   338,302,735        
Retained deficit (324,853,173) (327,926,126) (323,649,718) (327,513,586) (339,752,470) (324,749,301)   (327,157,636)        
Total CorEnergy Equity 140,065,078 134,108,008 138,479,882 131,661,094 119,585,115 146,122,994   140,686,351        
Non-controlling Interest 124,196,254 116,928,344 124,353,713 119,220,989 124,193,250 121,534,724   122,945,172        
Total Equity 264,261,332 251,036,352 262,833,595 250,882,083 243,778,365 267,657,718   263,631,523 $ 149,399,827      
Total Liabilities and Equity 501,794,437 502,143,741 504,164,197 504,502,667 490,280,014 519,713,704   508,592,748        
As Previously Reported | Series A Cumulative Redeemable Preferred Stock                        
Equity                        
Series A Cumulative Redeemable Preferred Stock 7.375% 129,525,675 125,270,350 129,525,675 125,270,350 129,525,675 129,525,675   129,525,675        
As Previously Reported | Non-Convertible Common Stock                        
Equity                        
Common stock 14,960   15,060 13,673 15,177 14,866   14,893        
As Previously Reported | Common Class B                        
Equity                        
Common stock 684   684   684 684   684        
Effect of Restatement                        
Assets                        
Property, plant, and equipment, after accumulated depreciation 0 0 0 0 0 0   0        
Property investment, net of accumulated depreciation 0 0 0 0 0 0   0        
Financing notes and related accrued interest receivable, net 0 0 0 0 0 0   0        
Cash and cash equivalents (2,043,957) (1,178,880) (1,418,585) (548,236) (1,127,621) (411,890)   (955,902)        
Accounts and other receivables 0 0 0 0 0 0   0        
Due from affiliates 0 0 0 0 0 0   0        
Deferred costs, net of accumulated amortization 0 0 0 0 0 0   0        
Inventory 0 0 0 0 0 0   0        
Prepaid expense and other assets 0 0 0 0 0 0   0        
Operating lease right-of-use asset 0 0 0 0 0 0   0        
Deferred tax asset, net 0 0 0 0 0 0   0        
Goodwill 0 0 0 0 0 0   0        
Total Assets (2,043,957) (1,178,880) (1,418,585) (548,236) (1,127,621) (411,890)   (955,902)        
Liabilities and Equity                        
Secured credit facilities, net of debt issuance cost 0 0 0 0 0 0   0        
Unsecured convertible senior notes, net of discount and debt issuance costs 0 0 0 0 0 0   0        
Accounts payable and other accrued liabilities (2,043,957) (1,178,880) (1,418,585) (548,236) (1,127,621) (411,890)   (955,902)        
Due to affiliated companies 0 0 0 0 0 0   0        
Operating lease liability 0 0 0 0 0 0   0        
Unearned revenue 0 0 0 0 0 0   0        
Total Liabilities (2,043,957) (1,178,880) (1,418,585) (548,236)   (411,890)   (955,902)        
Equity                        
Common stock   0                    
Additional paid-in capital 0 0 0 0 0   0        
Retained deficit 7,380,138 1,605,308 7,537,597 2,609,227 7,329,433 4,718,608   6,129,056        
Total CorEnergy Equity 7,380,138 1,605,308 7,537,597 2,609,227 7,329,433 4,718,608   6,129,056        
Non-controlling Interest (7,380,138) (1,605,308) (7,537,597) (2,609,227) (7,329,433) (4,718,608)   (6,129,056)        
Total Equity 0 0 0 0 0 0 $ 0 0        
Total Liabilities and Equity (2,043,957) (1,178,880) (1,418,585) (548,236) (1,127,621) (411,890)   (955,902)        
Effect of Restatement | VIE                        
Assets                        
Cash and cash equivalents   (547,104)                    
Effect of Restatement | Series A Cumulative Redeemable Preferred Stock                        
Equity                        
Series A Cumulative Redeemable Preferred Stock 7.375% 0 $ 0 0 0 0 0   0        
Effect of Restatement | Non-Convertible Common Stock                        
Equity                        
Common stock 0   0 $ 0 0 0   0        
Effect of Restatement | Common Class B                        
Equity                        
Common stock $ 0   $ 0   $ 0 $ 0   $ 0