Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

v3.23.2
CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Assets    
Property and equipment, net of accumulated depreciation of $30,066,195 and $52,908,191, respectively (Crimson VIE*: $339,790,197, and $340,205,058, respectively) $ 339,805,290 $ 440,148,967
Leased property, net of accumulated depreciation of $— and $299,463, respectively 0 1,226,565
Financing notes and related accrued interest receivable, net of reserve of $50,000 and $600,000, respectively 710,467 858,079
Cash and cash equivalents (Crimson VIE: $2,118,199 and $1,874,319, respectively) 9,237,764 17,830,482
Accounts and other receivables (Crimson VIE: $9,026,092 and $10,343,769, respectively) 9,028,808 14,164,525
Due from affiliated companies (Crimson VIE: $5,416 and $167,743, respectively) 5,416 167,743
Deferred costs, net of accumulated amortization of $910,220 and $726,619, respectively 303,322 415,727
Inventory (Crimson VIE: $3,579,851 and $5,804,776, respectively) 3,579,851 5,950,051
Prepaid expenses and other assets (Crimson VIE: $3,091,963 and $3,414,372, respectively) 5,178,308 9,478,146
Operating right-of-use assets (Crimson VIE: $6,012,534 and $4,452,210, respectively) 6,096,799 4,722,361
Deferred tax asset, net (Crimson VIE: $217,430 and $—, respectively) 217,430 0
Assets held-for-sale 108,670,305 0
Total Assets 482,833,760 494,962,646
Liabilities and Equity    
Secured credit facilities, net of deferred financing costs of $403,951 and $665,547, respectively 102,596,049 100,334,453
Unsecured convertible senior notes, net of discount and debt issuance costs of $1,397,620 and $1,726,470, respectively 116,652,380 116,323,530
Accounts payable and other accrued liabilities (Crimson VIE: $11,181,628 and $16,889,980, respectively) 16,244,763 26,316,216
Income tax payable (Crimson VIE: $— and $85,437, respectively) 8,529 174,849
Due to affiliated companies (Crimson VIE: $156,274 and $209,750, respectively) 156,274 209,750
Operating lease liability (Crimson VIE: $5,983,720 and $4,454,196, respectively) 6,067,985 4,696,410
Deferred tax liability, net 0 1,292,300
Unearned revenue (Crimson VIE: $566,154 and $203,725, respectively) 566,154 5,948,621
Liabilities held-for-sale 7,234,513 0
Total Liabilities 249,526,647 255,296,129
Commitments and Contingencies (Note 9)
Equity    
Additional paid-in capital 327,074,755 327,016,573
Retained deficit (341,821,204) (333,785,097)
Total CorEnergy Equity 114,795,261 122,773,089
Non-controlling interest 118,511,852 116,893,428
Total Equity 233,307,113 239,666,517
Total Liabilities and Equity 482,833,760 494,962,646
Series A Cumulative Redeemable Preferred Stock    
Equity    
Series A Cumulative Redeemable Preferred Stock 7.375%, $134,301,935 liquidation preference at June 30, 2023 and $129,525,675 liquidation preference at December 31, 2022 ($2,500 per share, $0.001 par value); 69,367,000 authorized; 51,810 issued and outstanding at June 30, 2023 and December 31, 2022 129,525,675 129,525,675
Non-Convertible Common Stock    
Equity    
Common stock 15,351 15,254
Class B Common Stock    
Equity    
Common stock $ 684 $ 684