XML 17 R3.htm IDEA: XBRL DOCUMENT v3.22.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash and cash equivalents $ 6,121 $ 4,171
Accounts receivable, net of allowance for doubtful accounts of $313 and $503, respectively 13,756 8,508
Prepaid expenses 1,238 1,247
Other 526 1,274
Total current assets 21,641 15,200
PROPERTY AND EQUIPMENT:    
Land and buildings 1,736 1,669
Leasehold improvements 8,479 8,479
Broadcasting equipment 5,989 5,927
Outdoor advertising structures 27,344 26,390
Office equipment, computer equipment, software and automobiles 2,566 2,210
Construction in progress 88 37
Total property and equipment 46,202 44,712
Less accumulated depreciation and amortization (19,669) (17,062)
Total property and equipment, net 26,533 27,650
INTANGIBLE ASSETS:    
Indefinite-lived intangibles 63,999 63,999
Goodwill 13,102 13,102
Other intangibles 5,060 5,060
Total intangible assets 82,161 82,161
Less accumulated amortization (4,131) (2,944)
Total intangible assets, net 78,030 79,217
OTHER ASSETS:    
Operating lease right of use assets 21,663 23,953
Deposits and other 343 331
Total other assets 22,006 24,284
Total assets 148,210 146,351
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 2,710 2,557
Current maturities of long-term debt 2,754 1,836
Accrued salaries and commissions 1,284 709
Deferred revenue 2,022 1,535
Operating lease liabilities 3,801 3,573
Other 1,412 549
Total current liabilities 13,983 10,759
LONG-TERM DEBT, NET OF CURRENT PORTION 97,527 93,918
OPERATING LEASE LIABILITIES, NET OF CURRENT 16,909 20,176
ASSET RETIREMENT OBLIGATION 7,267 6,316
DEFERRED INCOME TAXES 2,069 1,711
OTHER NONCURRENT LIABILITIES 16 221
Total liabilities 137,771 133,101
COMMITMENTS AND CONTINGENCIES (NOTE 12)
SERIES A CUMULATIVE CONVERTIBLE PARTICIPATING PREFERRED STOCK, $0.01 PAR VALUE, 10,000,000 SHARES AUTHORIZED; 220,000 SHARES ISSUED AND OUTSTANDING 27,010 24,258
RETAINED DEFICIT:    
Additional paid-in capital 24,030 20,772
Accumulated deficit (40,686) (31,852)
Total deficit (16,571) (11,008)
Total liabilities and deficit 148,210 146,351
Class A Common Stock    
RETAINED DEFICIT:    
Common Stock 31 18
Class B Common Stock    
RETAINED DEFICIT:    
Common Stock $ 54 $ 54