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Note 6 - Business Acquisitions (Tables)

9 Months Ended

Sep. 30, 2019

Notes Tables

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

						Key
		Sep. 30, 2019				Adjustments				Dec. 31, 2018
Assets Acquired
Property and Equipment:
Structures and displays		$	6,927,808			$	(2,676,030	)		$	9,603,838
Intangible Assets:
Customer relationships			8,627,000				935,000				7,692,000
Permits, licenses, and lease acquisition costs			1,167,000				(17,000	)			1,184,000
Easements			-				-				-
Favorable leases			-				-				-
Noncompetition and non-solicitation agreements			100,000				-				100,000
Goodwill			21,257,030				1,758,030				19,499,000
Total Intangible Assets			31,151,030				2,676,030				28,475,000
Other Assets:
Accounts receivable			-				-				-
Prepaid expenses			233,894				-				233,894
Total Other Assets			233,894				-				233,894
Total Assets Acquired			38,312,732				-				38,312,732
Liabilities Assumed
Accounts payable and accrued expenses			-				-				-
Asset retirement obligations			(78,838	)			-				(78,838	)
Other long-term liabilities			-				-				-
Total Liabilities Assumed			(78,838	)			-				(78,838	)
Total		$	38,233,894			$	-			$	38,233,894

						Waitt
		Sep. 30, 2019				Adjustments				Dec. 31, 2018
Assets Acquired
Property and Equipment:
Structures and displays		$	16,220,375			$	(3,503,529	)		$	19,723,904
Intangible Assets:
Customer relationships			13,984,000				1,288,000				12,696,000
Permits, licenses, and lease acquisition costs			5,288,000				(53,000	)			5,341,000
Easements			454,563				-				454,563
Favorable leases			-				-				-
Noncompetition and non-solicitation agreements			219,000				-				219,000
Goodwill			48,650,475				2,268,529				46,381,946
Total Intangible Assets			68,596,038				3,503,529				65,092,509
Other Assets:
Accounts receivable			1,239,457				-				1,239,457
Prepaid expenses			1,551,084				-				1,551,084
Total Other Assets			2,790,541				-				2,790,541
Total Assets Acquired			87,606,954				-				87,606,954
Liabilities Assumed
Accounts payable and accrued expenses			(761,779	)			-				(761,779	)
Asset retirement obligations			(1,497,913	)			-				(1,497,913	)
Other long-term liabilities			(1,316,000	)			-				(1,316,000	)
Total Liabilities Assumed			(3,575,692	)			-				(3,575,692	)
Total		$	84,031,262			$	-			$	84,031,262

Business Acquisition, Pro Forma Information [Table Text Block]

		For the Three Months Ended								For the Nine Months Ended
		September 30,								September 30,
		2019				2018				2019				2018
Revenue		$	11,037,522			$	8,699,175			$	30,931,950			$	25,705,507
Net Income (Loss) Attributable to Common Stockholders		$	487,184			$	(3,399,022	)		$	(6,148,998	)		$	(10,045,212	)
Basic and Diluted Income (Loss) per Share		$	0.02			$	(0.15	)		$	(0.27	)		$	(0.52	)
Basic and Diluted Weighted Average Class A and Class B Common Shares Outstanding			22,833,411				22,094,087				22,594,263				19,313,588

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.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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X

- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472

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