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Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income (loss) $ (8,946,163) $ 1,353,263
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Stock-based compensation 266,439 584,574
Provision for bad debts 1,013,038 (114,395)
Depreciation and amortization 2,576,475 1,768,787
Gain on dispositions   (3,545,755)
Impairment losses 6,804,412  
Amortization of loan fees 483,983 483,983
Deferred income taxes (2,417,780) 452,144
Equity in earnings of unconsolidated affiliates 61,527  
Change in operating assets and liabilities:    
Accounts receivable 6,870,703 11,155,406
Prepaid expenses (1,148,083) (1,577,726)
Other assets (854,721) (2,884,940)
Accounts payable 1,481,571 (1,265,637)
Other liabilities (3,968,917) 846,902
Other operating activities (268,761) 154,380
Net cash provided by operating activities 1,953,723 7,410,986
Cash flows from investing activities:    
Capital expenditures (3,443,430) (1,841,132)
Proceeds from dispositions 0 3,800,000
Payments for investments (750,000) (2,500,000)
Net cash used in investing activities (4,193,430) (541,132)
Cash flows from financing activities:    
Issuance of debt 7,500,000  
Payments on debt (4,000,000) (2,500,000)
Reduction of finance lease liabilities (16,205) (16,776)
Dividends paid (1,397,183) (1,373,511)
Purchase of treasury stock (15,875) (19,826)
Net cash provided by (used in) financing activities 2,070,737 (3,910,113)
Net increase (decrease) in cash and cash equivalents (168,970) 2,959,741
Cash and cash equivalents at beginning of period 18,648,171 13,433,828
Cash and cash equivalents at end of period 18,479,201 16,393,569
Cash paid for interest 3,777,582 4,112,206
Cash paid for income taxes 115,400 1,013,900
Supplement disclosure of non-cash investing and financing activities:    
Dividends declared but unpaid 1,398,321 1,387,832
Media advertising exchanged for investment 0 1,000,000
Class A Common Stock [Member]    
Supplement disclosure of non-cash investing and financing activities:    
Class A common stock issued for acquisition 0 198,500
Class A common stock issued for investment $ 0 $ 974,125