10-Q Filing

Mediaco Holding Inc. CIK: 1784254 Q2 2020

Filing Information

Form Type	10-Q
Accession Number	`0001564590-20-040180`
Period End Date	20200630
Filing Date	20200814
Fiscal Year	2020
Fiscal Period	Q2
XBRL Instance	ck0001784254-20200630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 52 Cash Flow Statement 50 Stockholders Equity 22

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.57M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.08M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$6.81M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$11.10M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.11M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.29M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.80M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$607.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.09M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$13.28M	USD	Point-in-time
PROPERTY AND EQUIPMENT, NET	`PropertyPlantAndEquipmentNet`	$31.56M	USD	Point-in-time
PROPERTY AND EQUIPMENT, NET	`PropertyPlantAndEquipmentNet`	$27.94M	USD	Point-in-time
INTANGIBLE ASSETS, NET	`IntangibleAssetsNetExcludingGoodwill`	$80.78M	USD	Point-in-time
INTANGIBLE ASSETS, NET	`IntangibleAssetsNetExcludingGoodwill`	$78.95M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$13.86M	USD	Point-in-time
Operating lease right of use assets	`OperatingLeaseRightOfUseAsset`	$24.99M	USD	Point-in-time
Operating lease right of use assets	`OperatingLeaseRightOfUseAsset`	$26.34M	USD	Point-in-time
Deposits and other	`DepositsAndOtherNonCurrentAssets`	$117.00K	USD	Point-in-time
Deposits and other	`DepositsAndOtherNonCurrentAssets`	$359.00K	USD	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$25.11M	USD	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$40.56M	USD	Point-in-time
Total assets	`Assets`	$167.17M	USD	Point-in-time
Total assets	`Assets`	$147.10M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$11.18M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$7.22M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$3.67M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$3.67M	USD	Point-in-time
Accrued salaries and commissions	`AccruedSalariesAndCommissionsCurrent`	$728.00K	USD	Point-in-time
Accrued salaries and commissions	`AccruedSalariesAndCommissionsCurrent`	$863.00K	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$1.69M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$1.50M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$3.16M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$3.47M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$346.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.59M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$20.78M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$18.32M	USD	Point-in-time
LONG TERM DEBT, NET OF CURRENT	`LongTermDebtNoncurrent`	$77.67M	USD	Point-in-time
LONG TERM DEBT, NET OF CURRENT	`LongTermDebtNoncurrent`	$81.12M	USD	Point-in-time
OPERATING LEASE LIABILITIES, NET OF CURRENT	`OperatingLeaseLiabilityNoncurrent`	$22.98M	USD	Point-in-time
OPERATING LEASE LIABILITIES, NET OF CURRENT	`OperatingLeaseLiabilityNoncurrent`	$21.31M	USD	Point-in-time
ASSET RETIREMENT OBLIGATIONS	`AssetRetirementObligation`	$5.62M	USD	Point-in-time
ASSET RETIREMENT OBLIGATIONS	`AssetRetirementObligation`	$6.00M	USD	Point-in-time
OTHER NONCURRENT LIABILITIES	`OtherLiabilitiesNoncurrent`	$311.00K	USD	Point-in-time
OTHER NONCURRENT LIABILITIES	`OtherLiabilitiesNoncurrent`	$239.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$127.07M	USD	Point-in-time
Total liabilities	`Liabilities`	$127.29M	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
SERIES A CUMULATIVE CONVERTIBLE PARTICIPATING PREFERRED STOCK, $0.01 PAR VALUE, 10,000,000 SHARES AUTHORIZED; 220,000 SHARES ISSUED AND OUTSTANDING	`RedeemableNoncontrollingInterestEquityPreferredCarryingAmount`	$22.11M	USD	Point-in-time
SERIES A CUMULATIVE CONVERTIBLE PARTICIPATING PREFERRED STOCK, $0.01 PAR VALUE, 10,000,000 SHARES AUTHORIZED; 220,000 SHARES ISSUED AND OUTSTANDING	`RedeemableNoncontrollingInterestEquityPreferredCarryingAmount`	$23.17M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$20.64M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$20.64M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-23.85M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.95M	USD	Point-in-time
Total equity (deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$15.75M	USD	Point-in-time
Total equity (deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$79.81M	USD	Point-in-time
Total equity (deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$76.99M	USD	Point-in-time
Total equity (deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$17.76M	USD	Point-in-time
Total equity (deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.14M	USD	Point-in-time
Total equity (deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$77.16M	USD	Point-in-time
Total liabilities and equity (deficit)	`LiabilitiesAndStockholdersEquity`	$167.17M	USD	Point-in-time
Total liabilities and equity (deficit)	`LiabilitiesAndStockholdersEquity`	$147.10M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
NET REVENUES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$16.33M	USD	1 Quarter
NET REVENUES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$7.00M	USD	1 Quarter
NET REVENUES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$24.48M	USD	2 Qtrs
NET REVENUES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$18.78M	USD	2 Qtrs
Operating expenses excluding depreciation and amortization expense	`OperatingExpensesExcludingDepreciationAndAmortization`	$19.16M	USD	2 Qtrs
Operating expenses excluding depreciation and amortization expense	`OperatingExpensesExcludingDepreciationAndAmortization`	$6.49M	USD	1 Quarter
Operating expenses excluding depreciation and amortization expense	`OperatingExpensesExcludingDepreciationAndAmortization`	$12.28M	USD	1 Quarter
Operating expenses excluding depreciation and amortization expense	`OperatingExpensesExcludingDepreciationAndAmortization`	$15.95M	USD	2 Qtrs
Corporate expenses	`CorporateExpenses`	$932.00K	USD	1 Quarter
Corporate expenses	`CorporateExpenses`	$2.10M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$310.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.19M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$651.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$1.16M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$12.59M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$20.23M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$8.58M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$19.82M	USD	2 Qtrs
OPERATING INCOME (LOSS)	`OperatingIncomeLoss`	$-1.45M	USD	2 Qtrs
OPERATING INCOME (LOSS)	`OperatingIncomeLoss`	$-1.59M	USD	1 Quarter
OPERATING INCOME (LOSS)	`OperatingIncomeLoss`	$3.75M	USD	1 Quarter
OPERATING INCOME (LOSS)	`OperatingIncomeLoss`	$4.66M	USD	2 Qtrs
Interest expense	`InterestExpense`	$2.28M	USD	1 Quarter
Interest expense	`InterestExpense`	$4.52M	USD	2 Qtrs
INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.97M	USD	2 Qtrs
INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.75M	USD	1 Quarter
INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.66M	USD	2 Qtrs
INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.87M	USD	1 Quarter
PROVISION FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$1.23M	USD	1 Quarter
PROVISION FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$13.88M	USD	2 Qtrs
PROVISION FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$1.52M	USD	2 Qtrs
PROVISION FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$14.49M	USD	1 Quarter
CONSOLIDATED NET INCOME (LOSS)	`NetIncomeLoss`	$-18.36M	USD	1 Quarter
CONSOLIDATED NET INCOME (LOSS)	`NetIncomeLoss`	$2.52M	USD	1 Quarter
CONSOLIDATED NET INCOME (LOSS)	`NetIncomeLoss`	$-19.84M	USD	2 Qtrs
CONSOLIDATED NET INCOME (LOSS)	`NetIncomeLoss`	$628.00K	USD	1 Quarter
CONSOLIDATED NET INCOME (LOSS)	`NetIncomeLoss`	$-1.49M	USD	1 Quarter
CONSOLIDATED NET INCOME (LOSS)	`NetIncomeLoss`	$3.15M	USD	2 Qtrs
PREFERRED STOCK DIVIDENDS	`PreferredStockDividendsIncomeStatementImpact`	$1.06M	USD	2 Qtrs
PREFERRED STOCK DIVIDENDS	`PreferredStockDividendsIncomeStatementImpact`	$528.00K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-18.89M	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-20.90M	USD	2 Qtrs
NET INCOME (LOSS)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$3.15M	USD	2 Qtrs
NET INCOME (LOSS)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$2.52M	USD	1 Quarter
Basic and diluted income (loss) per share attributable to common shareholders	`EarningsPerShareBasicAndDiluted`	$1.51	USD	1 Quarter
Basic and diluted income (loss) per share attributable to common shareholders	`EarningsPerShareBasicAndDiluted`	$-2.66	USD	1 Quarter
Basic and diluted income (loss) per share attributable to common shareholders	`EarningsPerShareBasicAndDiluted`	$-2.95	USD	2 Qtrs
Basic and diluted income (loss) per share attributable to common shareholders	`EarningsPerShareBasicAndDiluted`	$1.89	USD	2 Qtrs
Basic and diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7,096.00	shares	1 Quarter
Basic and diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7,090.00	shares	2 Qtrs
Basic and diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1,667.00	shares	1 Quarter
Basic and diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1,667.00	shares	2 Qtrs

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$3.15M	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$-19.84M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$310.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.19M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$651.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$1.16M	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$291.00K	USD	2 Qtrs
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$103.00K	USD	2 Qtrs
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$390.00K	USD	2 Qtrs
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$382.00K	USD	2 Qtrs
Provision for deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.29M	USD	2 Qtrs
Provision for deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$13.65M	USD	2 Qtrs
Noncash compensation	`ShareBasedCompensation`	$132.00K	USD	2 Qtrs
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-82.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.92M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-820.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.04M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.10M	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.60M	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-528.00K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$609.00K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-3.87M	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-176.00K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$58.00K	USD	2 Qtrs
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$221.00K	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-478.00K	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-87.00K	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.99M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-430.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$148.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$246.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-148.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-246.00K	USD	2 Qtrs
Payments of long-term debt	`RepaymentsOfLongTermDebt`	$1.84M	USD	2 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$5.18M	USD	2 Qtrs
Payments for debt-related costs	`PaymentsOfFinancingCosts`	$181.00K	USD	2 Qtrs
Net transactions with Emmis Communications Corp.	`TransactionsWithFormerParentNet`	$5.84M	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.16M	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.84M	USD	2 Qtrs
INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.49M	USD	2 Qtrs
INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	-	USD	2 Qtrs
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.57M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.08M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.57M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.08M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$2.95M	USD	2 Qtrs

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$15.75M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$79.81M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$76.99M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$17.76M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.14M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$77.16M	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$-18.36M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.52M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-19.84M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$628.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.49M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$3.15M	USD	2 Qtrs
Net distributions to Emmis Communications Corp.	`NetDistributionsToParentCompany`	$-3.45M	USD	1 Quarter
Net distributions to Emmis Communications Corp.	`NetDistributionsToParentCompany`	$-2.35M	USD	1 Quarter
Preferred stock dividends	`DividendsPreferredStockStock`	$529.00K	USD	1 Quarter
Preferred stock dividends	`DividendsPreferredStockStock`	$528.00K	USD	1 Quarter
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$15.75M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$79.81M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$76.99M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$17.76M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.14M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$77.16M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.