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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net loss $ (196,549,741) $ (5,887,258)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 202,802 893,292
Provision for credit losses 2,709,123 899,669
Depreciation and amortization 6,331,852 7,236,060
FCC licenses impairment losses 224,815,149 0
FCC licenses termination losses 356,162 630,086
Goodwill impairment losses 0 922,000
Gain on dispositions (2,116,709) (799,377)
Gain on sale of investment 0 (6,026,776)
Amortization of premium and debt issuance costs (7,535,364) (704,298)
Gain on repurchases of long-term debt (525,000) 0
Deferred income taxes (44,655,757) (8,464,890)
Equity in earnings of unconsolidated affiliates (16,831) (64,790)
Change in operating assets and liabilities:    
Accounts receivable 3,374,161 972,582
Prepaid expenses (220,086) 1,198,825
Other assets (1,424,775) 361,407
Accounts payable 4,794,884 6,738,749
Other liabilities 1,023,045 (2,530,716)
Other operating activities 968,190 913,650
Net cash used in operating activities (8,468,895) (3,711,785)
Cash flows from investing activities:    
Capital expenditures (4,835,724) (3,013,668)
Proceeds from dispositions 10,473,213 1,308,968
Proceeds from sale of investment 0 6,026,776
Net cash provided by investing activities 5,637,489 4,322,076
Cash flows from financing activities:    
Issuance of debt, net of issuance costs 0 29,999,000
Repurchase of long-term debt (975,000) (42,500,000)
Payment of debt issuance expenses 0 (1,671,791)
Issuance of common stock 0 700,000
Purchase of treasury stock (29,531) (98,701)
Net cash used in financing activities (1,004,531) (13,571,492)
Net decrease in cash and cash equivalents (3,835,937) (12,961,201)
Cash and cash equivalents at beginning of period 13,772,720 26,733,921
Cash and cash equivalents at end of period 9,936,783 13,772,720
Cash paid for interest 16,955,280 27,246,716
Cash paid for income taxes $ 3,870,086 $ 2,911,875