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Note 6 - Business Acquisitions (Tables)

9 Months Ended

Sep. 30, 2018

Notes Tables

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

		Billboards
		Tammy Lynn				Key Outdoor				Waitt Outdoor				Total
Assets Acquired
Property and Equipment:
Structures, displays, and equipment		$	2,147,305			$	9,565,481			$	20,101,630			$	31,814,416
Intangible Assets:
Customer relationships			4,432,000				7,692,000				12,696,000				24,820,000
Permits, licenses, and lease acquisition costs			893,000				1,184,000				5,341,000				7,418,000
Easements			-				-				454,563				454,563
Favorable leases			1,425,000				-				-				1,425,000
Noncompetition and nonsolicitation agreements			10,000				100,000				219,000				329,000
Goodwill			7,592,688				19,499,000				46,381,946				73,473,634
Total Intangible Assets			14,352,688				28,475,000				65,092,509				107,920,197
Other Assets:
Accounts receivable			188,261				-				1,239,457				1,427,718
Prepaid expenses			-				233,894				1,551,084				1,784,978
Total Other Assets			188,261				233,894				2,790,541				3,212,696
Total Assets Acquired			16,688,254				38,274,375				87,984,680				142,947,309
Liabilities Assumed
Accounts payable and accrued expenses			-				-				(761,779	)			(761,779	)
Asset retirement obligations			-				(40,481	)			(1,875,639	)			(1,916,120	)
Other long-term liabilities			-				-				(1,316,000	)			(1,316,000	)
Total Liabilities Assumed			-				(40,481	)			(3,953,418	)			(3,993,899	)
Total		$	16,688,254			$	38,233,894			$	84,031,262			$	138,953,410

Business Combination, Separately Recognized Transactions [Table Text Block]

		Billboards
		Tammy Lynn				Key Outdoor				Waitt Outdoor				Total
Amortization of intangible assets acquired for the three months ended September 30, 2018		$	285,189			$	225,200			$	400,825			$	911,214
Revenues since the acquisition date included in the consolidated statement of operations for the three months ended September 30, 2018		$	340,006			$	555,992			$	1,117,509			$	2,013,507
Earnings since the acquisition date included in the consolidated statement of operations for the three months ended September 30, 2018		$	(54,969	)		$	(6,756	)		$	32,312			$	(29,413	)
Costs of acquisition included in professional fees in the consolidated statement of operations for the three months ended September 30, 2018		$	113,679			$	121,469			$	140,165			$	375,313
Amortization of intangible assets acquired for the nine months ended September 30, 2018		$	285,189			$	225,200			$	400,825			$	911,214
Revenues since the acquisition date included in the consolidated statement of operations for the nine months ended September 30, 2018		$	340,006			$	555,992			$	1,117,509			$	2,013,507
Earnings since the acquisition date included in the consolidated statement of operations for the nine months ended September 30, 2018		$	(54,969	)		$	(6,756	)		$	32,312			$	(29,413	)
Costs of acquisition included in professional fees in the consolidated statement of operations for the nine months ended September 30, 2018		$	113,679			$	121,469			$	140,165			$	375,313

		Billboards
		CCO				Hartlind				Southeastern US				Subtotal
Amortization of intangible assets acquired for the three months ended September 30, 2017		$	70,846			$	45,770			$	129,649			$	246,265
Revenues since the acquisition date included in the consolidated statement of operations for the three months ended September 30, 2017		$	264,001			$	85,178			$	238,746			$	587,925
Earnings since the acquisition date included in the consolidated statement of operations for the three months ended September 30, 2017		$	24,293			$	21,281			$	(30,404	)		$	15,170
Costs of acquisition included in professional fees in the consolidated statement of operations for the three months ended September 30, 2017		$	-			$	-			$	27,587			$	27,587
Amortization of intangible assets acquired for the nine months ended September 30, 2017		$	212,539			$	122,054			$	167,830			$	502,423
Revenues since the acquisition date included in the consolidated statement of operations for the nine months ended September 30, 2017		$	623,077			$	237,954			$	244,066			$	1,105,097
Earnings since the acquisition date included in the consolidated statement of operations for the nine months ended September 30, 2017		$	(17,462	)		$	77,010			$	(84,447	)		$	(24,899	)
Costs of acquisition included in professional fees in the consolidated statement of operations for the nine months ended September 30, 2017		$	14,468			$	8,645			$	49,150			$	72,263

		Insurance
		SSS				SCS				Freestate				Subtotal				Total
Amortization of intangible assets acquired for the three months ended September 30, 2017		$	13,749			$	-			$	-			$	13,749			$	260,014
Revenues since the acquisition date included in the consolidated statement of operations for the three months ended September 30, 2017		$	78,065			$	-			$	-			$	78,065			$	665,990
Earnings since the acquisition date included in the consolidated statement of operations for the three months ended September 30, 2017		$	(44,913	)		$	-			$	-			$	(44,913	)		$	(29,743	)
Costs of acquisition included in professional fees in the consolidated statement of operations for the three months ended September 30, 2017		$	28,293			$	-			$	-			$	28,293			$	55,880
Amortization of intangible assets acquired for the nine months ended September 30, 2017		$	13,749			$	-			$	-			$	13,749			$	516,172
Revenues since the acquisition date included in the consolidated statement of operations for the nine months ended September 30, 2017		$	78,065			$	-			$	-			$	78,065			$	1,183,162
Earnings since the acquisition date included in the consolidated statement of operations for the nine months ended September 30, 2017		$	(44,913	)		$	-			$	-			$	(44,913	)		$	(69,812	)
Costs of acquisition included in professional fees in the consolidated statement of operations for the nine months ended September 30, 2017		$	28,293			$	-			$	-			$	28,293			$	100,556

Business Acquisition, Pro Forma Information [Table Text Block]

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2018				2017				2018				2017
Revenue		$	8,363,233			$	8,359,105			$	24,697,680			$	24,379,048
Net Loss		$	(3,180,120	)		$	(2,720,307	)		$	(9,388,507	)		$	(8,027,154	)
Basic and Diluted Loss per Share		$	(0.14	)		$	(0.19	)		$	(0.49	)		$	(0.83	)
Basic and Diluted Weighted Average Class A and Class B Common Shares Outstanding			22,059,414				14,379,041				19,278,915				9,707,540

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

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