Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income

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Consolidated Statements of Income (USD $)
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Revenue    
Lease revenue $ 6,762,408 $ 5,638,244
Sales revenue 3,259,530 2,515,573
Financing revenue 25,619 0
Total Revenue 10,047,557 8,153,817
Expenses    
Cost of sales (excluding depreciation expense) 2,707,358 2,003,639
Management fees 783,868 643,814
Asset acquisition expenses 16,217 31,817
Professional fees 399,128 454,183
Depreciation expense 3,131,637 2,857,036
Amortization expense 15,341 15,279
Operating expenses 222,741 206,904
Directors’ fees 65,034 18,000
Other expenses 168,708 122,706
Total Expenses 7,510,032 6,353,378
Operating Income 2,537,525 1,800,439
Other Income (Expense)    
Net distributions and dividend income 0 13,124
Net realized and unrealized gain on trading securities 0 316,063
Net realized and unrealized gain on other equity securities 1,294,182 2,425,986
Interest expense (821,921) (737,381)
Total Other Income 472,261 2,017,792
Income before income taxes 3,009,786 3,818,231
Taxes    
Current tax expense 854,075 285,891
Deferred tax expense (benefit) (340,562) 735,053
Income tax expense, net 513,513 1,020,944
Net Income 2,496,273 2,797,287
Less: Net Income attributable to non-controlling interest 391,114 384,534
Net Income attributable to CORR Stockholders 2,105,159 2,412,753
Other comprehensive income:    
Changes in fair value of qualifying hedges attributable to CORR Stockholders (70,620) 0
Changes in fair value of qualifying hedges attributable to non-controlling interest (16,511) 0
Net Change in Other Comprehensive Income (87,131) 0
Total Comprehensive Income 2,409,142 2,797,287
Less: Comprehensive income attributable to non-controlling interest 374,603 384,534
Comprehensive Income attributable to CORR Stockholders $ 2,034,539 $ 2,412,753
Earnings Per Common Share:    
Basic and Diluted (in dollars per share) $ 0.07 $ 0.10
Weighted Average Shares of Common Stock Outstanding:    
Basic and Diluted (in dollars per share) 29,973,357 [1] 24,141,720 [1]
Dividends declared per share (in dollars per share) $ 0.125 $ 0.125
[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.