v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 6,697,591 $ 9,936,783
Accounts receivable, less allowance for credit losses of $2,396,893 in 2025 and $1,408,640 in 2026 37,700,739 45,468,661
Prepaid expenses 3,495,564 3,359,764
Other current assets 1,534,801 1,695,702
Total current assets 49,428,695 60,460,910
Property and equipment, net 40,247,303 43,101,321
Operating lease right-of-use assets 25,778,406 26,463,869
FCC licenses 154,711,200 154,711,200
Other intangibles, net 1,346,355 1,412,901
Gain on disposition 0 7,423,633
Other assets 8,084,796 5,714,142
Total assets 279,596,755 299,287,976
Current liabilities:    
Accounts payable 14,191,971 25,832,681
Operating lease liabilities 7,111,062 6,972,790
Other current liabilities 18,996,087 24,630,287
Current portion of long-term debt 0 2,795,000
Total current liabilities 40,299,120 60,230,758
Long-term debt 144,818,041 235,287,353
Operating lease liabilities 24,855,681 25,635,355
Deferred tax liabilities 18,951,075 19,041,411
Liabilities held for sale 0 1,689,352
Total liabilities 240,769,514 348,618,407
Commitments and contingencies
Stockholders' equity (deficit):    
Preferred stock, $0.001 par value; 10,000,000 shares authorized; none issued
Additional paid-in capital 157,537,497 156,797,847
Treasury stock, Class A common stock; 200,051 shares in 2025; 204,264 shares in 2026 (29,457,661) (29,367,411)
Accumulated deficit (89,885,853) (177,394,073)
Accumulated other comprehensive income 598,351 598,351
Total stockholders' equity (deficit) 38,827,241 (49,330,431)
Total liabilities and stockholders' equity (deficit) 279,596,755 299,287,976
Class A Common Stock [Member]    
Stockholders' equity (deficit):    
Common stock 18,245 18,193
Class B Common Stock [Member]    
Stockholders' equity (deficit):    
Common stock 16,662 16,662
Nonrelated Party [Member]    
Current liabilities:    
Other long-term liabilities $ 11,845,597 $ 6,734,178