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Note 12 - Future Minimum Lease Payments | 6 Months Ended
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Jun. 30, 2018
Notes to Financial Statements |
Leases of Lessee Disclosure [Text Block] |
NOTE 1 2 . | FUTURE MINIMUM LEASE PAYMENTS
In connection with the business acquisitions (See Note 6 ), we acquired the leases for over 450 billboard locations. Some of the leases are non-cancelable operating leases having remaining terms ranging from month-to-month to 1,002 months. In many instances, we can cancel the lease with little or no penalty. Ground rents for the three months and six months ended June 30, 2018 were $447,635 and $850,747 respectively; and for the three months and six months ended June 30, 2017 were $350,781 and $637,924, respectively. Contingent rents included in ground rents for the three months and six months ended June 30, 2018 were $92,081 and $116,685, respectively; and for three months and six months ended June 30, 2017 were $9,302 and $20,234, respectively. We lease office space under leases expiring between 2018 and 2022. Rent expense included in general and administrative expense for the three months and six months ended June 30, 2018 was $86,559 and $183,096, respectively; and for the three months and six months ended June 30, 2017 was $50,447 and $95,263, respectively. Future minimum rents are as follows for the twelve months ending June 30:
2019 |  | $ | 1,312,993 |
2020 |  |  | 1,202,230 |
2021 |  |  | 1,104,883 |
2022 |  |  | 947,708 |
2023 |  |  | 886,710 |
Thereafter |  |  | 4,397,508 |
Total |  | $ | 9,852,032 |

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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