v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 6,425,546 $ 9,936,783
Accounts receivable, less allowance for credit losses of $2,396,893 in 2025 and $1,605,007 in 2026 40,067,427 45,468,661
Prepaid expenses 2,743,935 3,359,764
Other current assets 1,692,973 1,695,702
Total current assets 50,929,881 60,460,910
Property and equipment, net 41,035,339 43,101,321
Operating lease right-of-use assets 26,401,473 26,463,869
FCC licenses 154,711,200 154,711,200
Other intangibles, net 1,379,628 1,412,901
Assets held for sale 0 7,423,633
Other assets 7,050,858 5,714,142
Total assets 281,508,379 299,287,976
Current liabilities:    
Accounts payable 21,409,989 25,832,681
Operating lease liabilities 6,913,962 6,972,790
Other current liabilities 17,935,660 24,630,287
Current portion of long-term debt 0 2,795,000
Total current liabilities 46,259,611 60,230,758
Long-term debt 217,504,512 235,287,353
Operating lease liabilities 25,450,595 25,635,355
Deferred tax liabilities 20,284,188 19,041,411
Liabilities held for sale 0 1,689,352
Total liabilities 327,574,967 348,618,407
Commitments and contingencies
Stockholders' deficit:    
Preferred stock, $0.001 par value; 10,000,000 shares authorized; none issued
Additional paid-in capital 156,848,634 156,797,847
Treasury stock, Class A common stock; 200,051 shares in 2025; 200,400 shares in 2026 (29,369,146) (29,367,411)
Accumulated deficit (174,179,283) (177,394,073)
Accumulated other comprehensive income 598,351 598,351
Total stockholders' deficit (46,066,588) (49,330,431)
Total liabilities and stockholders' deficit 281,508,379 299,287,976
Class A Common Stock [Member]    
Stockholders' deficit:    
Common stock 18,194 18,193
Class B Common Stock [Member]    
Stockholders' deficit:    
Common stock 16,662 16,662
Nonrelated Party [Member]    
Current liabilities:    
Other long-term liabilities $ 18,076,061 $ 6,734,178