XML 12 R2.htm IDEA: XBRL DOCUMENT v3.22.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2022
Dec. 31, 2021
ASSETS    
Cash, cash equivalents and restricted cash $ 23,483,187 $ 44,286,105
Accounts receivable, net of allowance for doubtful accounts of $817,395, and $786,830, respectively 67,522,346 60,213,807
Prepaid expenses and other current assets 2,591,236 1,904,273
Operating lease right-of-use assets 10,900,297  
Content assets, net 114,880,908 63,645,396
Intangible assets, net 17,827,323 18,035,091
Indefinite lived intangible assets 12,163,943 12,163,943
Goodwill 45,463,240 39,986,530
Other assets, net 5,441,580 5,190,954
Total assets 300,274,060 245,426,099
LIABILITIES AND EQUITY    
Accounts payable and accrued other expenses 49,373,363 34,984,226
Due to affiliated companies 3,145,536 489,959
Programming obligations 17,547,500 1,641,250
Film library acquisition obligations 38,738,033 24,673,866
Accrued participation costs 19,689,040 12,323,329
Film acquisition advances 19,121,686 6,196,909
Revolving loan 22,993,443 17,585,699
9.50% Notes due 2025, net of deferred issuance costs of $2,005,118 and $1,402,880, respectively 42,850,782 31,493,020
Contingent consideration 4,709,556 9,764,256
Put option obligation 11,400,000 11,400,000
Operating lease liabilities 12,724,357  
Other liabilities 5,046,142 3,274,432
Total liabilities 247,339,438 153,826,946
Commitments and contingencies (Note 15)
Stockholders' Equity:    
Series A cumulative redeemable perpetual preferred stock, $.0001 par value, liquidation preference of $25.00 per share, 10,000,000 shares authorized; 3,943,148 and 3,698,318 shares issued and outstanding, respectively; redemption value of $98,578,700 and $92,457,950, respectively 394 370
Additional paid-in capital 250,874,126 240,609,345
Deficit (171,372,394) (136,462,244)
Accumulated other comprehensive loss (11,314) 571
Class A common stock held in treasury, at cost (2,354,538 and 944,502 shares, respectively) (27,158,429) (13,202,407)
Total stockholders' equity 52,334,113 90,947,300
Noncontrolling interests 600,509 651,853
Total equity 52,934,622 91,599,153
Total liabilities and equity 300,274,060 245,426,099
Common Class A    
Stockholders' Equity:    
Common stock value 964 899
Common Class B    
Stockholders' Equity:    
Common stock value $ 766 $ 766