Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

v3.23.3
CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2023
Dec. 31, 2022
Assets    
Property and equipment, net of accumulated depreciation of $33,417,433 and $52,908,191, respectively (Crimson VIE*: $342,285,452, and $340,205,058, respectively) $ 342,291,489 $ 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 659,432 858,079
Cash and cash equivalents (Crimson VIE: $2,185,021 and $1,874,319, respectively) 3,048,354 17,830,482
Accounts and other receivables (Crimson VIE: $11,958,653 and $10,343,769, respectively) 11,961,369 14,164,525
Due from affiliated companies (Crimson VIE: $6,250 and $167,743, respectively) 6,250 167,743
Deferred costs, net of accumulated amortization of $964,971 and $726,619, respectively 177,376 415,727
Inventory (Crimson VIE: $1,938,569 and $5,804,776, respectively) 1,938,569 5,950,051
Prepaid expenses and other assets (Crimson VIE: $5,647,976 and $3,414,372, respectively) 6,374,432 9,478,146
Operating right-of-use assets (Crimson VIE: $5,879,124 and $4,452,210, respectively) 6,010,439 4,722,361
Deferred tax asset, net (Crimson VIE: $148,742 and $—, respectively) 148,742 0
Assets held-for-sale 110,306,421 0
Total Assets 482,922,873 494,962,646
Liabilities and Equity    
Secured credit facilities, net of deferred financing costs of $283,965 and $665,547, respectively 103,716,035 100,334,453
Unsecured convertible senior notes, net of discount and debt issuance costs of $1,233,197 and $1,726,470, respectively 116,816,803 116,323,530
Accounts payable and other accrued liabilities (Crimson VIE: $16,480,857 and $16,889,980, respectively) 19,276,291 26,316,216
Income tax payable (Crimson VIE: $— and $85,437, respectively) 10,965 174,849
Due to affiliated companies (Crimson VIE: $137,525 and $209,750, respectively) 137,525 209,750
Operating lease liability (Crimson VIE: $6,069,038 and $4,454,196, respectively) 6,200,354 4,696,410
Deferred tax liability, net 0 1,292,300
Unearned revenue (Crimson VIE: $498,721 and $203,725, respectively) 498,721 5,948,621
Liabilities held-for-sale 7,160,793 0
Total Liabilities 253,817,487 255,296,129
Commitments and Contingencies (Note 9)
Equity    
Additional paid-in capital 327,183,361 327,016,573
Retained deficit (346,940,752) (333,785,097)
Total CorEnergy Equity 109,784,322 122,773,089
Non-controlling interest 119,321,064 116,893,428
Total Equity 229,105,386 239,666,517
Total Liabilities and Equity 482,922,873 494,962,646
Series A Cumulative Redeemable Preferred Stock    
Equity    
Series A Cumulative Redeemable Preferred Stock 7.375%, $136,690,065 liquidation preference at September 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 September 30, 2023 and December 31, 2022 129,525,675 129,525,675
Non-Convertible Common Stock    
Equity    
Common stock 15,354 15,254
Class B Common Stock    
Equity    
Common stock $ 684 $ 684