XML 13 R6.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:      
Net Income (Loss) $ (67,536,837) $ (3,828,626) $ (81,504,032)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation   773,258 533,421
Provision for credit losses   742,185 1,006,830
Depreciation and amortization 2,201,664 5,455,622 6,626,974
FCC licenses impairment losses 78,204,065   88,245,065
Goodwill impairment losses 10,582,360 922,000 10,582,360
Amortization of loan fees   1,006,916 1,097,214
Gain on sale of investment   (6,026,776)  
Gain on repurchases of long-term debt     (973,208)
Deferred income taxes   (3,253,871) (26,977,992)
Equity in earnings of unconsolidated affiliates 18,744 (60,036) 135,877
Change in operating assets and liabilities:      
Accounts receivable   3,570,476 7,989,945
Prepaid expenses   (4,395,972) (5,558,093)
Other assets   (3,939,082) 2,572,946
Accounts payable   4,838,615 (3,964,866)
Other liabilities   1,120,813 (4,887,810)
Other operating activities   833,136 70,484
Net cash used in operating activities   (2,241,342) (5,004,885)
Cash flows from investing activities:      
Capital expenditures   (2,627,040) (3,060,716)
Proceeds from dispositions     250,000
Proceeds from sale of investment   6,026,776  
Net cash provided by (used in) investing activities   3,399,736 (2,810,716)
Cash flows from financing activities:      
Payments on debt     (1,983,750)
Purchase of treasury stock   (90,136) (69,838)
Net cash used in financing activities   (90,136) (2,053,588)
Net increase (decrease) in cash and cash equivalents   1,068,258 (9,869,189)
Cash and cash equivalents at beginning of period   26,733,921 39,534,653
Cash and cash equivalents at end of period $ 29,665,464 27,802,179 29,665,464
Cash paid for interest   23,028,749 24,946,655
Cash paid for income taxes   $ 351,975 $ 1,353,057