Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Assets    
Property and equipment, net of accumulated depreciation of $87,102 and $52,908,191, respectively (Crimson VIE*, net of accumulated depreciation: $82,085,847 and $340,205,058, respectively) $ 82,085,847 $ 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 606,850 858,079
Cash and cash equivalents (Crimson VIE: $7,761,457 and $1,874,319, respectively) 13,294,728 17,830,482
Accounts and other receivables (Crimson VIE: $10,348,545 and $10,343,769, respectively) 10,357,380 14,164,525
Due from affiliated companies (Crimson VIE: $12,500 and $167,743, respectively) 12,500 167,743
Deferred costs, net of accumulated amortization of $1,039,918 and $726,619, respectively 102,428 415,727
Inventory (Crimson VIE: $2,283,592 and $5,804,776, respectively) 2,283,592 5,950,051
Prepaid expenses and other assets (Crimson VIE: $3,854,310 and $3,414,372, respectively) 8,852,383 9,478,146
Operating right-of-use assets (Crimson VIE: $5,987,186 and $4,452,210, respectively) 6,070,298 4,722,361
Deferred tax asset, net (Crimson VIE:$206,553 and $—, respectively) 206,630 0
Assets held-for-sale 105,230,596 0
Total Assets 229,103,232 494,962,646
Liabilities and Equity    
Secured credit facilities, net of debt issuance costs of $163,980 and $665,547, respectively 105,836,020 100,334,453
Unsecured convertible senior notes, net of discount and debt issuance costs of $1,068,771 and $1,726,470, respectively 116,981,229 116,323,530
Accounts payable and other accrued liabilities (Crimson VIE: $16,394,243 and $16,889,980, respectively) 26,249,602 26,316,216
Income tax payable (Crimson VIE: $— and $85,437, respectively) 21,982 174,849
Due to affiliated companies (Crimson VIE: $118,775 and $209,750, respectively) 118,775 209,750
Operating lease liability (Crimson VIE: $6,397,582 and $4,454,196, respectively) 6,480,693 4,696,410
Deferred tax liability, net 0 1,292,300
Unearned revenue (Crimson VIE: $390,749 and $203,725, respectively) 390,749 5,948,621
Liabilities held-for-sale 5,969,221 0
Total Liabilities 262,048,271 255,296,129
Commitments and Contingencies (Note 12)
Equity    
Additional paid-in capital 327,285,007 327,016,573
Retained deficit (609,902,035) (333,785,097)
Total CorEnergy Equity (Deficit) (153,075,315) 122,773,089
Non-controlling interest 120,130,276 116,893,428
Total Equity (Deficit) (32,945,039) 239,666,517
Total Liabilities and Equity (Deficit) 229,103,232 494,962,646
Series A Cumulative Redeemable Preferred Stock    
Equity    
Series A Cumulative Redeemable Preferred Stock 7.375%, $139,078,195 liquidation preference ($2,500 per share, $0.001 par value), 69,367,000 authorized; 51,810 issued and outstanding at December 31, 2023 and December 31, 2022 129,525,675 129,525,675
Non-Convertible Common Stock    
Equity    
Common stock 15,354 15,254
Common Class B    
Equity    
Common stock $ 684 $ 684