Note 12 - Future Minimum Lease Payments

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

Leases of Lessee Disclosure [Text Block]

NOTE

FUTURE MINIMUM LEASE PAYMENTS

In connection with the business acquisitions (See Note

), 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

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