XML 17 R4.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Premiums earned $ 2,031,575 $ 2,880,544 $ 5,554,297 $ 9,538,183
Insurance commissions 584,082 382,493 1,642,962 1,065,013
Investment and other income 85,696 77,499 226,986 338,953
Total Revenues 14,498,147 11,606,836 41,883,047 34,509,580
Costs and Expenses:        
Cost of insurance revenues (exclusive of depreciation and amortization) 1,029,576 1,758,451 3,031,391 5,367,231
Employee costs 4,544,796 3,311,885 13,312,992 9,542,845
Professional fees 2,552,762 630,604 4,670,926 2,582,961
General and administrative 2,497,301 1,649,056 7,136,217 4,978,443
Amortization 1,137,736 1,031,805 3,508,445 3,012,641
Depreciation 1,668,984 978,672 4,066,451 2,744,376
Loss on disposition of assets 61,478 20,751 119,904 89,685
Accretion 32,179 36,462 96,717 105,964
Total Costs and Expenses 17,259,145 12,327,459 47,223,295 37,275,484
Net Loss from Operations (2,760,998) (720,623) (5,340,248) (2,765,904)
Other Income (Expense):        
Interest income 24,839 104,125 645,741 884,125
Dividend income 106,815 106,716 322,785 967,864
Equity in income of unconsolidated affiliates 359,203 1,342,826 935,488 2,406,151
Other investment income (loss) (32,990,929) 2,845,323 85,694,668 (18,717,680)
Remeasurement of warrant liability (1,019,917) 0 2,039,835 0
Interest expense (233,561) (212,196) (702,546) (600,631)
Net Income (Loss) Before Income Taxes (36,514,548) 3,466,171 83,595,723 (17,826,075)
Income tax benefit (provision) 7,735,913 0 (14,230,999) 0
Net Income (Loss) (28,778,635) 3,466,171 69,364,724 (17,826,075)
Noncontrolling interest in subsidiary loss (income) 2,502,541 (2,500) (2,565,628) (42,184)
Net Income (Loss) Attributable to Common Stockholders $ (26,276,094) $ 3,463,671 $ 66,799,096 $ (17,868,259)
Basic Net Income (Loss) per Share (in dollars per share) $ (0.89) $ 0.13 $ 2.32 $ (0.71)
Diluted Net Income (Loss) per Share (in dollars per share) $ (0.89) $ 0.13 $ 2.32 $ (0.71)
Basic Weighted Average Class A and Class B Common Shares Outstanding (in shares) 29,576,115 27,231,115 28,751,500 25,145,700
Diluted Weighted Average Class A and Class B Common Shares Outstanding (in shares) 29,576,115 27,271,014 28,825,428 25,145,700
Billboard Rentals [Member]        
Revenues:        
Revenues $ 8,023,065 $ 7,121,957 $ 23,129,582 $ 20,991,755
Costs and Expenses:        
Cost of revenues (exclusive of depreciation and amortization) 2,992,251 2,780,359 8,927,528 8,472,265
Broadband Services [Member]        
Revenues:        
Revenues 3,773,729 1,144,343 11,329,220 2,575,676
Costs and Expenses:        
Cost of revenues (exclusive of depreciation and amortization) $ 742,082 $ 129,414 $ 2,352,724 $ 379,073