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Consolidated Balance Sheets - USD ($)
Sep. 30, 2019
Dec. 31, 2018
ASSETS    
Cash and cash equivalents $ 6,194,964 $ 6,451,758
Restricted cash 0 750,000
Accounts receivable, net 27,731,931 12,841,099
Prepaid expenses 1,117,969 218,736
Inventory, net 291,917 262,068
Goodwill 17,466,681 2,537,079
Indefinite lived intangible assets 12,163,943 12,163,943
Intangible assets, net 47,081,028 2,971,637
Film library, net 31,997,384 25,338,502
Due from affiliated companies 7,010,065 1,213,436
Programming costs, net 13,961,506 12,790,489
Program rights 826,567 0
Deferred tax asset 0 452,000
Other assets, net 316,878 356,221
Total assets 166,160,833 78,346,968
LIABILITIES AND EQUITY    
Current maturities of commercial loan 3,200,000 1,000,000
Commercial loan and revolving line of credit, net of unamortized deferred finance cost of $188,803 and $334,554, respectively 12,611,197 6,582,113
Accounts payable and accrued expenses 19,792,234 5,078,805
Ad Representation fees payable 8,421,104 0
Film library acquisition obligations 5,735,100 2,715,600
Programming Obligations 6,005,154 0
Accrued participation costs 1,308,575 1,539,139
Other liabilities 5,142,105 414,506
Deferred revenue 0 6,469
Total liabilities 62,215,469 17,336,632
Commitments and contingencies (Note 16)
Stockholder's Equity:    
Series A cumulative redeemable perpetual preferred stock, $.0001 par value, liquidation preference of $25.00 per share, 10,000,000 shares authorized; 1,599,002 and 918,497 shares issued and outstanding, respectively, redemption value of $39,975,050 and $22,962,425, respectively 160 92
Additional paid-in capital 88,077,143 59,360,583
Retained (deficit) earnings (20,335,402) 2,281,187
Class A common stock held in treasury, at cost (74,235 shares) (632,729) (632,729)
Total stockholders’ equity 67,110,379 61,010,336
Subsidiary convertible preferred stock (Note 17) 36,350,000 0
Noncontrolling interests (Note 17) 484,985 0
Total Equity 103,945,364 61,010,336
Total liabilities and equity 166,160,833 78,346,968
Common Class A    
Stockholder's Equity:    
Common stock value 425 421
Total Equity 425 421
Common Class B    
Stockholder's Equity:    
Common stock value 782 782
Total Equity $ 782 $ 782