XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.2.2
Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net loss $ (18,045,647) $ (10,496,947)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Stock-based compensation 606,080 923,000
Provision for bad debts 588,751 (1,779,188)
Depreciation and amortization 4,967,002 5,802,824
Impairment losses 10,476,323 0
Gain on disposition 0 (191,988)
Amortization of loan fees 754,085 791,574
Loss on extinguishment of long-term debt 0 4,996,731
Deferred income taxes (2,747,810) (3,902,280)
Equity in earnings of unconsolidated affiliates (163,226) 56,024
Change in operating assets and liabilities:    
Accounts receivable 7,160,917 4,835,493
Prepaid expenses (2,286,447) (2,320,101)
Other assets (2,176,152) (1,684,017)
Accounts payable 2,641,981 (5,837,685)
Other liabilities 5,003,953 13,446,861
Other operating activities (28,264) 208,725
Net cash provided by operating activities 6,751,546 4,849,026
Cash flows from investing activities:    
Payment for acquisition (2,000,000) 0
Capital expenditures (6,486,902) (2,553,787)
Proceeds from dispositions 1,185,312 362,500
Net cash used in investing activities (7,301,590) (2,191,287)
Cash flows from financing activities:    
Issuance of debt 0 310,000,000
Payments on debt (4,802,500) (268,500,000)
Payment of debt issuance costs 0 (7,604,215)
Reduction of finance lease liabilities (1,945) (35,086)
Purchase of treasury stock (105,707) (136,779)
Net cash provided by (used in) financing activities (4,910,152) 33,723,920
Net increase (decrease) in cash and cash equivalents (5,460,196) 36,381,659
Cash and cash equivalents at beginning of period 51,378,642 20,759,432
Cash and cash equivalents at end of period 45,918,446 57,141,091
Cash paid for interest 12,921,869 1,837,493
Cash paid for income taxes 1,546,500 1,526,303
Supplemental disclosure of non-cash investing and financing activities:    
Acquisition of noncontrolling interest 0 4,490,130
Extinguishment of trade sales payable 0 934,500
Class A Common Stock [Member]    
Supplemental disclosure of non-cash investing and financing activities:    
Class A common stock returned to treasury stock $ 0 $ 670,594