Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v2.4.1.9
Consolidated Statements of Cash Flows (USD $)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Statement of Cash Flows [Abstract]    
Net Income (Loss) $ 4,496,803us-gaap_ProfitLoss $ 2,496,273us-gaap_ProfitLoss
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Deferred income tax, net (115,391)us-gaap_DeferredIncomeTaxesAndTaxCredits (340,561)us-gaap_DeferredIncomeTaxesAndTaxCredits
Depreciation and amortization 4,426,559us-gaap_DepreciationDepletionAndAmortization 3,364,803us-gaap_DepreciationDepletionAndAmortization
Net distributions and dividend income, including recharacterization of income 371,323us-gaap_NetRealizedOrUnrealizedGainLossOnTradingSecurities 1,294,182us-gaap_NetRealizedOrUnrealizedGainLossOnTradingSecurities
Net distributions and dividend income, including recharacterization of income (449,798)us-gaap_UnrealizedGainLossOnInvestments (17,489)us-gaap_UnrealizedGainLossOnInvestments
Unrealized gain on derivative contract (16,880)us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet 0us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
Common stock issued under directors compensation plan 30,000us-gaap_ShareBasedCompensation 0us-gaap_ShareBasedCompensation
Changes in assets and liabilities:    
(Increase) decrease in accounts and other receivables (352,029)us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables 127,323us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables
Increase in financing note accrued interest receivable (200,167)us-gaap_IncreaseDecreaseInAccountsAndNotesReceivable 0us-gaap_IncreaseDecreaseInAccountsAndNotesReceivable
Increase in prepaid expenses and other assets (295,441)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (107,057)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Increase in management fee payable 61,756us-gaap_IncreaseDecreaseInOtherAccountsPayable 92,262us-gaap_IncreaseDecreaseInOtherAccountsPayable
Decrease in accounts payable and other accrued liabilities (821,951)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities (84,245)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Increase in current income tax liability 480,637us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable 1,033,247us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable
Increase (decrease) in unearned revenue (711,230)us-gaap_IncreaseDecreaseInDeferredRevenue 2,844,914us-gaap_IncreaseDecreaseInDeferredRevenue
Net cash provided by operating activities 6,161,545us-gaap_NetCashProvidedByUsedInOperatingActivities 8,115,288us-gaap_NetCashProvidedByUsedInOperatingActivities
Investing Activities    
Acquisition expenditures (2,041,642)us-gaap_PaymentsToAcquireEquipmentOnLease (41,887,644)us-gaap_PaymentsToAcquireEquipmentOnLease
Purchases of property and equipment (16,464)us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment 0us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment
Increase in financing notes receivable (31,442)us-gaap_IncreaseDecreaseInNotesReceivables (4,107,955)us-gaap_IncreaseDecreaseInNotesReceivables
Return of capital on distributions received 29,864us-gaap_PartnersCapitalAccountReturnOfCapital 491,260us-gaap_PartnersCapitalAccountReturnOfCapital
Net cash used in investing activities (2,059,684)us-gaap_NetCashProvidedByUsedInInvestingActivities (45,504,339)us-gaap_NetCashProvidedByUsedInInvestingActivities
Financing Activities    
Debt financing costs (53,705)us-gaap_PaymentsOfFinancingCosts (220,000)us-gaap_PaymentsOfFinancingCosts
Net offering proceeds 54,137,791us-gaap_ProceedsFromIssuanceOfCommonStock 45,624,563us-gaap_ProceedsFromIssuanceOfCommonStock
Dividends paid (5,991,083)us-gaap_PaymentsOfOrdinaryDividends (2,990,215)us-gaap_PaymentsOfOrdinaryDividends
Distributions to non-controlling interest (680,748)us-gaap_PaymentsOfDividendsMinorityInterest 0us-gaap_PaymentsOfDividendsMinorityInterest
Advances on revolving line of credit 1,945,361us-gaap_ProceedsFromLinesOfCredit 1,523,266us-gaap_ProceedsFromLinesOfCredit
Advances on revolving line of credit (33,521,055)us-gaap_RepaymentsOfLinesOfCredit (1,122,096)us-gaap_RepaymentsOfLinesOfCredit
Principal payment on credit facility (882,000)us-gaap_RepaymentsOfLongTermDebt (294,000)us-gaap_RepaymentsOfLongTermDebt
Net cash provided by financing activities 14,954,561us-gaap_NetCashProvidedByUsedInFinancingActivities 42,521,518us-gaap_NetCashProvidedByUsedInFinancingActivities
Net Change in Cash and Cash Equivalents 19,056,422us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 5,132,467us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and Cash Equivalents at beginning of period 7,578,164us-gaap_CashAndCashEquivalentsAtCarryingValue 17,963,266us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and Cash Equivalents at end of period 26,634,586us-gaap_CashAndCashEquivalentsAtCarryingValue 23,095,733us-gaap_CashAndCashEquivalentsAtCarryingValue
Non-Cash Operating Activities    
Change in accounts payable and accrued expenses related to prepaid assets and other expense 19,096us-gaap_IncreaseDecreaseInOtherNoncurrentAssets 0us-gaap_IncreaseDecreaseInOtherNoncurrentAssets
Supplemental Disclosure of Cash Flow Information    
Interest paid 943,101us-gaap_InterestPaid 690,570us-gaap_InterestPaid
Income taxes paid (net of refunds) 295,901us-gaap_IncomeTaxesPaid (179,172)us-gaap_IncomeTaxesPaid
Non-Cash Investing Activities    
Change in accounts payable and accrued expenses related to acquisition expenditures (13,597)corr_IncreaseDecreaseinAccountsPayableandAccruedExpensesRelatedtoAcquisitionExpenditures 78,121corr_IncreaseDecreaseinAccountsPayableandAccruedExpensesRelatedtoAcquisitionExpenditures
Change in accounts payable and accrued expenses related to issuance of financing and other notes receivable (39,248)corr_NoncashorPartNoncashAccruedExpensesfromIssuanceofNotesReceivable 0corr_NoncashorPartNoncashAccruedExpensesfromIssuanceofNotesReceivable
Non-Cash Financing Activities    
Change in accounts payable and accrued expenses related to the issuance of equity (72,685)corr_IncreaseDecreaseinAccountsPayableandAccruedExpensesRelatedtoIssuanceofEquity 0corr_IncreaseDecreaseinAccountsPayableandAccruedExpensesRelatedtoIssuanceofEquity
Change in accounts payable and accrued expenses related to debt financing costs 8,509corr_IncreaseDecreaseinAccountsPayableandAccruedExpensesRelatedtoDebtFinancingCosts (220,000)corr_IncreaseDecreaseinAccountsPayableandAccruedExpensesRelatedtoDebtFinancingCosts
Reinvestment of distributions by common stockholders in additional common shares $ 68,154us-gaap_ProceedsFromIssuanceOfCommonStockDividendReinvestmentPlan $ 29,305us-gaap_ProceedsFromIssuanceOfCommonStockDividendReinvestmentPlan