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Note 6 - Business Acquisitions (Tables)

3 Months Ended

Mar. 31, 2021

Notes Tables

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

		December 31, 2020
Assets Acquired
Property, plant and equipment		$	3,112,459
Customer relationships			1,480,000
Permits			260,000
Trade names and trademarks			970,000
Goodwill			7,124,158
Software			990,000
Right of use assets			337,966
Other			184,737
Total Assets Acquired			14,459,320
Liabilities Assumed
Accounts payable and deferred revenue			317,768
Lease liabilities			337,966
Other			91,095
Total Liabilities Assumed			746,829
Total		$	13,712,491

AireBeam's results of operations for the three month period ended March 31, 2020 are recognized from March 10, 2020, the date of acquisition, through March 31, 2020.  During this period, revenues and earnings were $267,251 and $65,410, respectively. Acquisition costs of $287,934 were expensed in professional fees during the same period.   Included in our property, plant, and equipment caption are fiber, tower, and broadband equipment assets acquired in the transaction which have useful lives ranging from five to twenty years. The intangible assets include customer relationships and permits (ten year useful life) and trade names and trademarks (twenty year useful life).

		December 31, 2020
Assets Acquired
Property, plant and equipment		$	6,170,000
Customer relationships			7,400,000
Permits			330,000
Trade names and trademarks			1,910,000
Goodwill			11,030,000
Right of use assets			3,226,355
Other			201,000
Total Assets Acquired			30,267,355
Liabilities Assumed
Accounts payable and deferred revenue			437,300
Lease liabilities			3,226,355
Total Liabilities Assumed			3,663,655
Total		$	26,603,700

Business Acquisition, Pro Forma Information [Table Text Block]

		For the Three Months Ended
		March 31,
		2021				2020
Revenue		$	13,285,225			$	14,992,668
Net Income (Loss) Attributable to Common Stockholders		$	84,462,282			$	(23,861,040	)
Basic and Diluted Earnings (Loss) per Share		$	3.09			$	(1.01	)
Basic and Diluted Weighted Average Class A and Class B Common Shares Outstanding			27,299,946				23,510,660

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=121647850&loc=d3e4845-128472

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- References

No definition available.

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