Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income and Comprehensive Income

v2.4.0.8
Consolidated Statements of Income and Comprehensive Income (USD $)
 1 Months Ended 12 Months Ended
Dec. 31, 2012
Dec. 31, 2013
Nov. 30, 2012
Nov. 30, 2011
Revenue        
Lease revenue $ 857,909 $ 22,552,976 $ 2,552,975 $ 1,063,740
Sales revenue 868,992 8,733,044 8,021,022 2,161,723
Total Revenue 1,726,901 31,286,020 10,573,997 3,225,463
Expenses        
Cost of sales (excluding depreciation expense) 686,976 6,734,665 6,078,102 1,689,374
Management fees, net of expense reimbursements 155,242 2,637,265 1,046,796 968,163
Asset acquisition expenses 64,733 806,083 377,834 638,185
Professional fees 333,686 1,678,137 1,141,045 548,759
Depreciation expense 499,357 11,429,980 1,118,269 364,254
Amortization expense 1,967 61,305 0 0
Operating expenses 48,461 924,571 739,519 196,775
Directors’ fees 8,500 178,196 85,050 70,192
Other expenses 27,500 580,183 231,086 183,674
Total Expenses 1,826,422 25,030,385 10,817,701 4,659,376
Operating Income (Loss) (99,521) 6,255,635 (243,704) (1,433,913)
Other Income (Expense)        
Net distributions and dividend income 2,325 584,814 (279,395) 651,673
Net realized and unrealized gain (loss) on trading securities (1,769,058) (251,213) 4,009,933 2,299,975
Net realized and unrealized gain (loss) on other equity securities (159,495) 5,617,766 16,171,944 2,283,773
Other Income 0 0 0 40,000
Interest expense (416,137) (3,288,378) (81,123) (36,508)
Total Other Income (Expense) (2,342,365) 2,662,989 19,821,359 5,238,913
Income (Loss) before income taxes (2,441,886) 8,918,624 19,577,655 3,805,000
Taxes        
Current tax expense 3,855,947 13,474 29,265 253,650
Deferred tax expense (benefit) (4,776,090) 2,936,044 7,199,669 629,207
Income tax expense (benefit), net (920,143) 2,949,518 7,228,934 882,857
Net Income (Loss) (1,521,743) 5,969,106 12,348,721 2,922,143
Less: Net Income (Loss) attributable to non-controlling interest (18,347) 1,466,767 0 0
Net Income (Loss) attributable to CORR Stockholders (1,503,396) 4,502,339 12,348,721 2,922,143
Other comprehensive income:        
Changes in fair value of qualifying hedges attributable to CORR Stockholders 0 777,403 0 0
Changes in fair value of qualifying hedges attributable to non-controlling interest 0 181,762 0 0
Net Change in Other Comprehensive Income 0 959,165 0 0
Total Comprehensive Income (Loss) (1,521,743) 6,928,271 12,348,721 2,922,143
Less: Comprehensive income attributable to non-controlling interest 0 1,648,529 0 0
Comprehensive Income (Loss) attributable to CORR Stockholders $ (1,521,743) $ 5,279,742 $ 12,348,721 $ 2,922,143
Earnings (Loss) Per Common Share:        
Basic and Diluted (in dollars per share) $ (0.10) $ 0.19 $ 1.34 $ 0.32
Weighted Average Shares of Common Stock Outstanding:        
Basic and Diluted (in dollars per share) 15,564,861 [1] 24,149,396 [1] 9,182,425 [1] 9,159,809 [1]
Dividends declared per share (in dollars per share) $ 0.000 $ 0.375 $ 0.440 $ 0.410
[1] Warrants to purchase shares of common stock were outstanding during the periods reflected in the table above, but were not included in the computation of diluted earnings per share because the warrants’ exercise price was greater than the average market value of the common shares and, therefore, the effect would be anti-dilutive.