Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue        
Total Revenue $ 33,044,687 $ 32,961,686 $ 98,040,839 $ 97,355,473
Expenses        
General and administrative 6,601,866 5,743,342 20,820,858 16,162,570
Depreciation and amortization 3,351,238 4,028,800 10,620,391 11,997,781
Loss on impairment of goodwill 0 16,210,020 0 16,210,020
Total Expenses 32,681,277 45,014,863 96,488,285 96,244,228
Operating Income (Loss) 363,410 (12,053,177) 1,552,554 1,111,245
Other Income (expense)        
Other income (expense) (11,586) 76,050 325,905 332,615
Interest expense (4,499,316) (3,483,208) (13,330,232) (9,972,969)
Total Other Expense (4,510,902) (3,407,158) (13,004,327) (9,640,354)
Loss before income taxes (4,147,492) (15,460,335) (11,451,773) (8,529,109)
Taxes        
Current tax expense 2,436 35,187 12,137 343,108
Deferred tax expense (benefit) 160,408 6,182 (785,891) 94,604
Income tax expense (benefit), net 162,844 41,369 (773,754) 437,712
Net Loss (4,310,336) (15,501,704) (10,678,019) (8,966,821)
Less: Net income attributable to non-controlling interest 809,212 809,212 2,427,636 2,427,636
Net Loss attributable to CorEnergy Infrastructure Trust, Inc. (5,119,548) (16,310,916) (13,105,655) (11,394,457)
Preferred dividend requirements 2,388,130 2,388,130 7,164,390 7,164,390
Net Loss attributable to Common Stockholders $ (7,507,678) $ (18,699,046) $ (20,270,045) $ (18,558,847)
Dividends declared per share (in dollars per share) $ 0 $ 0.050 $ 0 $ 0.150
Capital Stock        
Taxes        
Net Loss attributable to Common Stockholders $ (7,187,583) $ (17,855,821) $ (19,404,323) $ (17,651,810)
Weighted average shares outstanding - basic (in shares) 15,353,513 15,089,708 15,325,852 14,999,570
Basic net loss per share (in dollars per share) $ (0.47) $ (1.18) $ (1.27) $ (1.18)
Weighted average common shares - diluted (in shares) 15,818,470 15,554,665 15,790,809 15,464,527
Diluted net loss per share (in dollars per share) $ (0.47) $ (1.20) $ (1.28) $ (1.20)
Common Stock | Class B Common Stock        
Taxes        
Net Loss attributable to Common Stockholders $ (320,095) $ (843,225) $ (865,722) $ (907,037)
Weighted average shares outstanding - basic (in shares) 683,761 683,761 683,761 683,761
Basic net loss per share (in dollars per share) $ (0.47) $ (1.23) $ (1.27) $ (1.33)
Weighted average common shares - diluted (in shares) 683,761 683,761 683,761 683,761
Diluted net loss per share (in dollars per share) $ (0.47) $ (1.23) $ (1.27) $ (1.33)
Transportation and distribution        
Revenue        
Revenue from contracts with customers $ 28,862,539 $ 31,273,493 $ 86,642,286 $ 89,538,121
Expenses        
Cost of revenue 18,921,495 17,647,673 54,189,582 45,857,193
Pipeline loss allowance subsequent sales        
Revenue        
Revenue from contracts with customers 4,077,113 1,477,251 11,087,109 7,283,450
Expenses        
Cost of revenue 3,806,678 1,385,028 10,857,454 6,016,664
Lease and other revenue        
Revenue        
Revenue from contracts with customers $ 105,035 $ 210,942 $ 311,444 $ 533,902