Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

NOTE 1.

ORGANIZATION AND BACKGROUND

Boston Omaha was organized on August 11, 2009 with present management taking over operations in February 2015. Our operations include (i) our outdoor advertising business with multiple billboards across Alabama, Arkansas, Florida, Georgia, Illinois, Iowa, Kansas, Missouri, Nebraska, Nevada, Oklahoma, South Dakota, Tennessee, Virginia, West Virginia, and Wisconsin; (ii) our insurance business that specializes in surety bond underwriting and brokerage; (iii) our broadband business that provides high-speed broadband services to its customers, (iv) our asset management business, and (v) our minority investments primarily in real estate, real estate services, private aviation infrastructure, and banking. Our billboard operations are conducted through our subsidiary, Link Media Holdings, LLC, our insurance operations are conducted through our subsidiary, General Indemnity Group, LLC, our broadband operations are conducted through our subsidiary, Boston Omaha Broadband, LLC, and our asset management operations are conducted through our subsidiary, Boston Omaha Asset Management, LLC.

We completed an acquisition of an outdoor advertising business and entered the outdoor advertising industry on June 19, 2015. From 2015 through 2024, we have completed more than twenty additional acquisitions of outdoor advertising businesses.

On April 20, 2016, we completed an acquisition of a surety bond brokerage business. On December 7, 2016, we acquired a fidelity and surety bond insurance company. From 2017 through 2024, we completed four additional acquisitions of surety brokerage businesses.

On March 10, 2020, we completed the acquisition of a rural broadband internet provider located in Arizona. On December 29, 2020, we completed the acquisition of a second broadband internet provider located in Utah. On April 1, 2022, we completed the acquisition of our third broadband internet provider located in Utah.

On September 25, 2020, we filed a Registration Statement on Form S-1 with the Securities and Exchange Commission for a proposed initial public offering of units of a special purpose acquisition company, which we refer to as the “SPAC,” named Yellowstone Acquisition Company, which we refer to as “Yellowstone.” Yellowstone completed its initial public offering on October 26, 2020 and on January 25, 2022 completed a business combination with Sky Harbour Group and Yellowstone changed its name to Sky Harbour Group Corporation (see Note 8 for further discussion).

Note 2 - Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2024

Significant Accounting Policies [Text Block]

NOTE 2.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Consolidation Policy

The financial statements of Boston Omaha Corporation include the accounts of the Company and our consolidated subsidiaries, which are comprised of voting interest entities in which we have a controlling financial interest and variable interest entities for which we have determined that we are the primary beneficiary. All significant intercompany profits, losses, transactions, and balances have been eliminated in consolidation.

Variable Interest Entities (VIEs)

We determine whether an entity is a VIE and, if so, whether it should be consolidated by utilizing judgments and estimates that are inherently subjective. Our determination of whether an entity in which we hold a direct or indirect variable interest is a VIE is based on several factors, including whether the entity’s total equity investment at risk upon inception is sufficient to finance the entity’s activities without additional subordinated financial support. We make judgments regarding the sufficiency of the equity at risk based first on a qualitative analysis, and then a quantitative analysis, if necessary.

We analyze any investments in VIEs to determine if we are the primary beneficiary. In evaluating whether we are the primary beneficiary, we evaluate our direct and indirect economic interests in the entity. A reporting entity is determined to be the primary beneficiary if it holds a controlling financial interest in the VIE. Determining which reporting entity, if any, has a controlling financial interest in a VIE is primarily a qualitative approach focused on identifying which reporting entity has both: (i) the power to direct the activities of a VIE that most significantly impact such entity’s economic performance; and (ii) the obligation to absorb losses or the right to receive benefits from such entity that could potentially be significant to such entity. Performance of that analysis requires the exercise of judgment.

We consider a variety of factors in identifying the entity that holds the power to direct matters that most significantly impact the VIE’s economic performance including, but not limited to, the ability to direct operating decisions and activities. In addition, we consider the rights of other investors to participate in those decisions. We determine whether we are the primary beneficiary of a VIE at the time we become involved with a variable interest entity and reconsider that conclusion continually.

We consolidate any VIE of which we are the primary beneficiary. Such VIEs consist of 24th Street Fund I and 24th Street Fund II, collectively “the 24th Street Funds,” and Fund One Boston Omaha Build for Rent LP, which we refer to as "BFR".

Total assets of the consolidated VIEs included within our Consolidated Balance Sheets were approximately $48,700,000 and $96,500,000 as of December 31, 2024 and December 31, 2023, respectively. Total liabilities of the consolidated VIEs included within our Consolidated Balance Sheets were approximately $27,000 and $132,000 as of December 31, 2024 and December 31, 2023, respectively. As of December 31, 2024 and December 31, 2023, the aggregate fair value of the 24th Street Funds’ and BFR's investments in special purpose entities was approximately $46,900,000 and $64,900,000, respectively. During 2024, the 24th Street Funds’ and BFR's investments in special purpose entities recognized other investment income of approximately $8,000,000 and distributions to the funds of approximately $26,000,000. The assets of the consolidated VIEs may only be used to settle obligations of the same VIE.

Our consolidated subsidiaries include:

Link Media Holdings, LLC which we refer to as “LMH”

Link Media Alabama, LLC which we refer to as “LMA”

Link Media Florida, LLC which we refer to as “LMF”

Link Media Wisconsin, LLC which we refer to as “LMW”

Link Media Georgia, LLC which we refer to as “LMG”

Link Media Midwest, LLC which we refer to as “LMM”

Link Media Omaha, LLC which we refer to as “LMO”

Link Media Properties, LLC which we refer to as “LMP”

Link Media Southeast, LLC which we refer to as “LMSE”

Link Media Services, LLC which we refer to as “LMS”

Link Billboards Oklahoma, LLC which we refer to as “LBO”

General Indemnity Group, LLC which we refer to as “GIG”

United Casualty and Surety Insurance Company which we refer to as “UCS”

BOSS Bonds Insurance Agency, Inc., which we refer to as "BOSS Bonds", formerly known as South Coast Surety Insurance Services, LLC which we refer to as “SCS”

Boston Omaha Investments, LLC which we refer to as “BOIC”

Boston Omaha Asset Management, LLC which we refer to as “BOAM”

Fund One Boston Omaha Build for Rent LP which we refer to as “BFR”

BOAM BFR, LLC which we refer to as “BOAM BFR”

BOC Business Services, LLC which we refer to as “BBS”

BOC Yellowstone, LLC which we refer to as “BOC Yellowstone”

BOC Yellowstone II, LLC which we refer to as “BOC Yellowstone II”

24th Street Asset Management LLC which we refer to as “24th Street”

24th Street Fund I, LLC which we refer to as “24th Street Fund I”

24th Street Fund II, LLC which we refer to as “24th Street Fund II”

Boston Omaha Broadband, LLC which we refer to as “BOB”

FIF AireBeam, LLC which we refer to as “AireBeam”

Fiber Fast Homes, LLC which we refer to as “FFH”

FIF Utah, LLC which we refer to as “FIF Utah”

FIF St George, LLC which we refer to as “FIF St George” or "InfoWest"

Cash and Cash Equivalents

For purposes of the statement of cash flows, we consider all highly liquid investments, with the exception of U.S. Treasury securities, purchased with an original maturity of three months or less to be cash equivalents.

Cash Held by BOAM Funds and Other

Cash held by BOAM Funds and other represents cash and cash equivalents held by consolidated BOAM Funds and other consolidated entities. Such amounts are not available to fund the general liquidity needs of Boston Omaha.

Accounts Receivable

Billboard Rentals

Accounts receivable are recorded at the invoiced amount, net of advertising agency commissions, sales discounts, and allowances for credit losses. We evaluate the collectability of accounts receivable based on our knowledge of our customers and historical experience of credit losses. In circumstances where we are aware of a specific customer’s inability to meet its financial obligations, we record a specific allowance to reduce the amounts recorded to what we believe will be collected. For all other customers, we recognize reserves for credit losses based upon historical experience of credit losses as a percentage of revenue, adjusted for relative improvement or deterioration and changes in current economic conditions.

Insurance

Accounts receivable consists of premiums, anticipated salvage, and reinsurance receivables. All of the receivables have payment terms of less than twelve months.

Anticipated salvage is the amount we expect to receive from principals pursuant to indemnification agreements.

Broadband

Accounts receivable are recorded at the invoiced amount, net of allowances for credit losses. We evaluate the collectability of accounts receivable based on our knowledge of our customers and historical experience of credit losses. In circumstances where we are aware of a specific customer’s inability to meet its financial obligations, we record a specific allowance to reduce the amounts recorded to what we believe will be collected.

Credit Losses

We estimate credit losses on financial instruments based on amounts expected to be collected. The allowance for credit losses is estimated based on historical collections, accounts receivable aging, economic indicators, and expected future trends.

Deferred Policy Acquisition Costs

Policy acquisition costs consist primarily of commissions to agents and brokers and premium taxes, fees, and assessments. Such costs that are directly related to the successful acquisition of new or renewal insurance contracts are deferred and amortized over the related policy period, generally one to three years. The recoverability of these costs is analyzed by management quarterly, and if determined to be impaired, is charged to expense. We do not consider anticipated investment income in determining whether a premium deficiency exists. All other acquisition expenses are charged to operations as incurred.

Property and Equipment

Property and equipment are carried at cost less depreciation. Depreciation is provided principally on the straight-line method over the estimated useful lives of the assets, which range from four years to twenty years as follows:

	*Years*

Structures		15
Digital displays and electrical		10
Static and tri-vision displays		10 to 15
Fiber, towers, and broadband equipment		5 to 20
Vehicles, equipment, and furniture		4 to 7

Maintenance and repair costs are charged against income as incurred. Significant improvements or betterments are capitalized and depreciated over the estimated life of the asset.

Periodic internal reviews are performed to evaluate the reasonableness of the depreciable lives for property and equipment. Actual usage, physical wear and tear, replacement history, and assumptions about technology evolution are reviewed and evaluated to determine the remaining useful lives of the assets. Remaining useful life assessments are made to anticipate the loss in service value that may precede physical retirement, as well as the level of maintenance required for the remaining useful life of the asset.

Property and equipment is reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset or asset group before interest expense. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset or asset group. Assets to be disposed of would be separately presented in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell and would no longer be depreciated. The assets and liabilities of a disposed group classified as held for sale would be presented separately in the appropriate asset and liability sections of the balance sheet.

Acquisitions

For transactions that meet the definition of a business combination, we allocate the purchase price, including any contingent consideration, to the assets acquired and the liabilities assumed at their estimated fair values as of the date of the acquisition with any excess of the purchase price paid over the estimated fair value of net assets acquired recorded as goodwill. The determination of the final purchase price and the acquisition-date fair value of identifiable assets acquired and liabilities assumed may extend over more than one period and result in adjustments to the preliminary estimate recognized in the prior period financial statements. For transactions which meet the definition of asset purchases, we proportionally allocate the purchase price to the assets based on their relative fair values acquired and the liabilities assumed at their estimated fair values as of the date of the acquisition.

The fair value of the assets acquired and liabilities assumed is typically determined by using either estimates of replacement costs or discounted cash flow valuation methods. When determining the fair value of tangible assets acquired, we estimate the cost to replace the asset with a new asset, adjusted for an estimated reduction in fair value due to age of the asset, and the economic useful life. When determining the fair value of intangible assets acquired, we estimate the applicable discount rate and the timing and amount of future cash flows. Key assumptions utilized in estimating the future cash flows expected to be generated by each reporting unit primarily relate to forecasted revenues and premiums earned.

Goodwill

Goodwill represents future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Goodwill is subject to an annual impairment test. We designated October 1 as the date of our annual goodwill impairment test. We are required to identify our reporting units and determine the carrying value of each reporting unit. We analyze financial information of our operations to identify discrete segments that constitute a reporting unit. We assign assets acquired and liabilities assumed in business combinations to those reporting units. We have identified four reporting units: billboard operations, broadband operations, insurance brokerage and insurance carrier operations, and asset management operations. We are required to determine the fair value of each reporting unit and compare it to the carrying amount of the reporting unit. To the extent the carrying amount of a reporting unit exceeds the fair value of the reporting unit, we would be required to book an impairment loss. For our annual review of reporting units, we employ a third party valuation expert.

We conduct a qualitative assessment by examining relevant events and circumstances which could have a negative impact on our goodwill, including macroeconomic conditions, industry and market conditions, cost factors, overall financial performance, reporting unit dispositions and acquisitions, our market capitalization, and other relevant events specific to us. If, after assessing the totality of events or circumstances described above, we determine that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, we will perform a quantitative impairment test. If industry and economic conditions deteriorate, we may be required to assess goodwill impairment before the next annual test, which could result in impairment charges. The fair value of each of our goodwill reporting units is generally estimated using a combination of public company multiples and discounted cash flow methodologies. The discounted cash flow approach that we use for valuing goodwill as part of the impairment testing approach involves estimating future cash flows expected to be generated from the related assets, discounted to their present value using a risk-adjusted discount rate.

We performed our annual measurement for impairment of the goodwill of our reporting units and concluded the fair value of each reporting unit exceeded its carrying amount at its annual impairment test date on October 1, 2024 and 2023; therefore, we were not required to recognize an impairment loss.

During 2023, goodwill of approximately $2,900,000 was recorded in connection with acquisitions in our broadband and asset management segments. We did not complete any acquisitions during 2024.

Purchased Intangibles and Other Long-Lived Assets

We amortize intangible assets with finite lives over their estimated useful lives, which range between five and fifty years as follows:

	*Years*

Customer relationships		10 to 15
Permits, licenses, and lease acquisition costs		10 to 50
Noncompetition and nonsolicitation agreements		5
Technology, trade names, and trademarks		10 to 20
Site location		15
Capitalized contract costs		10

Purchased intangible assets, including long-lived assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. Factors considered in reviewing the asset values include consideration of the use of the asset, the expected life of the asset, and regulatory or contractual provisions related to such assets. Market participation assumptions are compared to our experience and the results of the comparison are evaluated. For finite-lived intangible assets, the period over which the assets are expected to contribute directly to future cash flows is evaluated against our historical experience. Impairment losses are recognized only if the carrying amount exceeds its fair value.

Asset Retirement Obligations

We are required to record the present value of obligations associated with the retirement of tangible long-lived assets in the period in which the obligation is incurred. The liability is capitalized as part of the long-lived asset’s carrying amount. With the passage of time, accretion of the liability is recognized as an operating expense and the capitalized cost is depreciated over the expected useful life of the related asset. Our asset retirement obligations relate to the dismantlement, removal, site reclamation, and similar activities related to the decommissioning of our billboard structures and broadband towers.

Investments, Short-term and Long-term

Investments include U.S Treasury securities, marketable equity securities, and equity investments as discussed below. U.S. Treasury securities held by our insurance entities are classified as held-to-maturity and are accounted for at amortized cost. We have both the intent and ability to hold the securities to maturity. U.S. Treasury securities held by non-insurance entities are classified as trading securities and are accounted for at fair value. Unrealized holding gains and losses during the period are included in earnings. Marketable equity securities are stated at fair value. Dividend and interest income are recognized when earned. Realized investment gains and losses are included in earnings.

Equity Investments

Our equity investments consist of investment in three private companies in which we do not have the ability to exercise significant influence over their operating and financial activities. These investments are carried at cost as there is no market for the capital stock, accordingly, no quoted market price is available. The investments are tested for impairment, at least annually, and more frequently upon the occurrences of certain events. We have adopted the provisions of ASU 2016-01 and use the measurement alternative, defined as cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer.

Investments in Unconsolidated Entities

We account for investments where we have significant influence but do not have a controlling interest, typically ownership of less than 50% and more than 20%, using the equity method of accounting. In accordance with ASC 323-30, we account for investments in limited partnerships and limited liability companies using the equity method of accounting when our investment is more than minimal (greater than 3% to 5%). Our share of income (loss) of such entities is recorded as a single amount as equity in income (loss) of unconsolidated affiliates. Dividends, if any, are recorded as a reduction of the investment.

We monitor our equity method investments for factors indicating other-than-temporary impairment. We consider several factors when evaluating our investments, including, but not limited to, (i) the period of time for which the fair value has been less than the carrying value, (ii) operating and financial performance of the investee, (iii) the investee’s future business plans and projections, (iv) discussions with their management, and (v) our ability and intent to hold the investment until it recovers in value.

Retention of Specialized Accounting

Each of the 24th Street Funds, and Fund One Boston Omaha Build for Rent LP qualify as investment companies and apply specialized industry accounting. We report fund investments on our Consolidated Balance Sheets at their estimated fair value with gains (losses) resulting from changes in fair value reflected within ‘Other investment income’ in the accompanying Consolidated Statements of Operations. Accordingly, the accompanying consolidated financial statements reflect different accounting policies for investments depending on whether or not they are held through a consolidated investment company.

Funds Held as Collateral Assets

Funds held as collateral assets consist principally of cash collateral received from principals to guarantee performance on surety bonds issued by us, as well as all other contractual obligations of the principals to the surety.

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.

The more significant areas requiring the use of management estimates relate to allocation of asset acquisition price between tangible and intangible assets, useful lives for depreciation, amortization, and accretion, impairment of goodwill, valuation of insurance loss reserves, and the valuation of deferred tax assets and liabilities. Accordingly, actual results could differ from those estimates.

Fair Value Measurements

We determine the fair value of our financial instruments using the fair value hierarchy, which requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

Subsequent Events

We have performed an evaluation of subsequent events through the date on which the financial statements are issued.

Revenues

The majority of our advertising revenues are derived from contracts for advertising space on billboard structures and broadband internet services and are accounted for under Financial Accounting Standards Board, which we refer to as the “FASB,” Accounting Standards Codification, which we refer to as “ASC,” 606, Revenue from Contracts with Customers, and under ASC 840, Leases.

Premium revenues derived from our insurance operations are subject to ASC 944, Financial Services – Insurance.

Revenue Recognition

Billboard Rentals

We generate revenue from outdoor advertising through the leasing of advertising space on billboards. The terms of the contracts range from less than one month to three years and are generally billed monthly. Revenue for advertising space rental is recognized on a straight-line basis over the term of the contract. Advertising revenue is reported net of agency commissions. Agency commissions are calculated based on a stated percentage applied to gross billing revenue for operations. Payments received in advance of being earned are recorded as deferred revenue.

Another component of billboard rentals consists of production services which include creating and printing advertising copy. Contract revenues for production services are accounted for under ASC 606, Revenue from Contracts with Customers. Revenues are recognized at a point in time upon satisfaction of the contract, which is typically less than one week.

Practical expedients and exemptions: The Company is utilizing the following practical expedients and exemptions from ASC 606. We generally expense sales commissions when incurred because the amortization period is one year or less. These costs are recorded within costs of billboard revenues exclusive of depreciation and amortization. We do not disclose the value of unsatisfied performance obligations as the majority of our contracts with customers have an original expected length of less than one year. For contracts with customers which exceed one year, the future amount to be invoiced to the customer corresponds directly with the value to be received by the customer.

Deferred Revenues

We record deferred revenues when cash payments are received in advance of being earned or when we have an unconditional right to consideration before satisfying our performance obligation. The term between invoicing and when a payment is due is not significant. For certain services we require payment before the product or services are delivered to the customer. The balance of deferred revenue is considered short-term and will be recognized in revenue within twelve months.

Surety Bond Sales

Premiums and Unearned Premium Reserves

Premiums written are recognized as revenues based on a pro-rata daily calculation over the respective terms of the policies in-force. The cost of reinsurance ceded is initially written as prepaid reinsurance premiums and is amortized over the reinsurance contract period in proportion to the amount of insurance protection provided. Premiums ceded of approximately $4,300,000 and $3,300,000 for the years ended December 31, 2024 and 2023, respectively, are included within “Premiums earned” in our Consolidated Statements of Operations.

Commissions

We generate revenue from commissions on surety bond sales and account for commissions under ASC 606. Insurance commissions are earned from various insurance companies based upon our agency agreements with them. We arrange with various insurance companies for the provision of a surety bond for entities that require a surety bond. The insurance company sets the price of the bond. The contract with the insurance company is fulfilled when the bond is issued by the insurance agency on behalf of the insurance company. The insurance commissions are calculated based upon a stated percentage applied to the gross premiums on bonds. Commissions are recognized at a point in time, on a bond-by-bond basis as of the policy effective date and are generally nonrefundable.

Broadband Revenues

Broadband revenue is derived principally from internet services and is recognized on a straight-line basis over the term of the contract in the period the services are rendered. Revenue received or receivable in advance of the delivery of services is included in deferred revenue.

Right of Use Assets and Lease Liabilities

Right of use, which we refer to as “ROU," assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The present value of lease payments is determined primarily using the incremental borrowing rate based on the information available at the lease commencement date. We have elected not to recognize ROU assets and lease liabilities for short-term leases for all classes of underlying assets. Short-term leases are leases with terms greater than 1 month, but less than 12 months.

Redeemable Noncontrolling Interest

Redeemable noncontrolling interests are interests in subsidiaries that are redeemable outside of our control either for cash or other assets. These interests are classified as mezzanine equity and measured at the estimated redemption value at the end of each reporting period. The resulting increases or decreases in the estimated redemption amount are effected by corresponding charges against retained earnings, or in the absence of retained earnings, additional paid-in capital. Redeemable Noncontrolling Interests recorded within our Consolidated Balance Sheets relate to our Broadband subsidiaries (see Note 17).

Losses and Loss Adjustment Expenses

Unpaid losses and loss adjustment expenses represent estimates for the ultimate cost of unpaid reported and unreported claims incurred and related expenses. We involve an independent, third-party actuary to assist us in the estimation of reserves for losses and loss adjustment expenses. Estimates are based on paid and incurred loss development factors and expected loss ratios, which are primarily driven by historical claims paid and incurred data and consideration of the level of premiums written during the current and prior year. Since the reserves are based on estimates, the ultimate liability may differ from the estimated reserve. The effects of changes in estimated reserves are included within cost of insurance revenues in our consolidated results of operations in the period in which the estimates are updated. The reserves are included within accounts payable and accrued expenses in our Consolidated Balance Sheets.

Segment Information

Operating segments are defined as the components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision makers in deciding how to allocate resources and in assessing performance. Our chief operating decision makers direct the allocation of resources to operating segments based on the profitability, cash flows, and growth opportunities of each respective segment.

Our current operations for the years ended December 31, 2024 and 2023 include the outdoor advertising industry, the broadband services industry, the insurance industry, and the asset management industry.

Earnings Per Share

Basic income (loss) per common share is computed by dividing the net income (loss) available to Class A common stockholders and Class B common stockholders by the weighted average number of Class A common and Class B common shares outstanding during the year. Diluted earnings per share reflect the potential dilution of securities that could share in earnings of an entity. In a loss year, dilutive common equivalent shares are excluded from the loss per share calculation as the effect would be anti-dilutive. For the years ended December 31, 2024 and 2023, we had potentially dilutive securities in the form of stock warrants.

Income Taxes

We account for income taxes in accordance with ASC Topic 740 which requires us to provide a net deferred tax asset or liability equal to the expected future tax benefit or expense of temporary reporting differences between book and tax accounting and any available operating loss or tax credit carry forwards. Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due plus deferred taxes related primarily to differences between the bases of certain assets and liabilities for financial and income tax reporting. Deferred tax assets and liabilities represent the future tax return consequences of those differences, which will either be taxable or deductible when the assets and liabilities are recovered or settled. Deferred taxes also are recognized for operating losses that are available to offset future federal income taxes. Valuation allowances are established when necessary to reduce deferred tax assets to amounts expected to be realized.

Our policy is to recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. During the years ended December 31, 2024 and 2023, we recognized no interest and penalties. As of December 31, 2024 and 2023, we had no accruals for interest and penalties.

Recent Accounting Pronouncement

In November 2023, the FASB issued ASU 2023- 07, Improvements to Reportable Segment Disclosures, which requires companies to disclose significant segment expenses and other segment items that impact each reported measure of segment income or loss. This guidance is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. We adopted this guidance effective for the year ended December 31, 2024 (see Note 15).

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires companies to disclose disaggregated information related to the effective tax rate reconciliation and income taxes paid. This guidance is effective for public entities for fiscal years beginning after December 15, 2024. We do not anticipate the adoption of this guidance will have a material impact on our consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses, which requires disclosures about specific types of expenses included in expense captions presented on the face of the Consolidated Statement of Operations. This guidance is effective for public entities for fiscal years beginning after December 15, 2026. We are currently reviewing this guidance and its impact on our consolidated financial statements.

Note 3 - Cash, Cash Equivalents, and Restricted Cash

12 Months Ended

Dec. 31, 2024

Cash and Cash Equivalents Disclosure [Text Block]

NOTE 3.

CASH, CASH EQUIVALENTS, AND RESTRICTED CASH

The following table sets forth a reconciliation of cash, cash equivalents, and restricted cash reported in the Consolidated Statements of Cash Flows that agrees to the total of those amounts as presented in the Consolidated Statements of Cash Flows.

	*December 31,*

	*2024*		*2023*

Cash and cash equivalents	$	28,289,712	$	21,946,884
Funds held as collateral		9,973,991		14,101,531
Cash held by BOAM funds and other		2,933,723		3,364,789

Total Cash, Cash Equivalents, and Restricted Cash as Presented in the Consolidated Statements of Cash Flows	$	41,197,426	$	39,413,204

Note 4 - Accounts Receivable

12 Months Ended

Dec. 31, 2024

Financing Receivables [Text Block]

NOTE 4.

ACCOUNTS RECEIVABLE

Accounts receivable consist of the following:

	*December 31,*
	*2024*			*2023*

Trade accounts	$	6,696,413		$	6,117,359
Premiums		3,778,050			2,911,119
Recoverables from reinsurers		2,166,939			3,283,071
Allowance for doubtful accounts		(207,815	)		(170,305	)

Total Accounts Receivable, net	$	12,433,587		$	12,141,244

Note 5 - Property and Equipment

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment Disclosure [Text Block]

NOTE 5.

PROPERTY AND EQUIPMENT

Property and equipment consist of the following:

	*December 31,*
	*2024*			*2023*

Structures and displays	$	67,161,287		$	65,736,121
Fiber, towers, and broadband equipment		126,808,205			97,974,753
Land		583,892			583,892
Vehicles and equipment		11,255,755			10,699,920
Office furniture and equipment		5,594,698			5,384,720
Accumulated depreciation		(49,810,164	)		(36,112,643	)

Total Property and Equipment, net	$	161,593,673		$	144,266,763

Depreciation expense for the years ended December 31, 2024 and 2023 was $14,495,747, and $12,155,096, respectively.

Note 6 - Business Acquisitions

12 Months Ended

Dec. 31, 2024

Mergers, Acquisitions and Dispositions Disclosures [Text Block]

NOTE 6. BUSINESS ACQUISITIONS

2024 Acquisitions

We did not complete any acquisitions during fiscal 2024.

2023 Acquisitions

During the year ended December 31, 2023, we completed the acquisition of two broadband service providers and their related assets and an asset management business. These acquisitions were accounted for as business combinations under the provisions of ASC 805. A summary of the acquisitions is provided below.

24th Street Asset Management

On May 1, 2023, Boston Omaha Asset Management, LLC, our wholly owned subsidiary, acquired 100% of the membership interests in 24th Street Asset Management LLC, from the members of 24th Street for cash and BOC Class A common stock valued at $5,016,494 in the aggregate. Prior to the transaction, BOAM indirectly owned 48% of the membership interests of 24th Street. The consideration consisted of $2,759,072 in cash paid at closing, an additional $1,254,102 in cash subject to holdback, and 45,644 shares of BOC Class A common stock. Our purchase price allocation related to 24th Street Asset Management includes carried interest and goodwill of $9,110,478 and $536,626, respectively.

Broadband Acquisitions

On June 16, 2023, our subsidiary, FIF St. George, acquired from Pro Communication and Construction Services, LLC, which we refer to as “ProComm,” broadband construction equipment and related assets for a purchase price of $2,881,000 paid in cash. The acquisition was completed for the purpose of expanding our broadband presence in the Western United States. Our final purchase price allocation related to ProComm includes property, plant and equipment, intangibles, and goodwill of $844,500, $1,046,000 and $990,500, respectively. The intangible assets primarily include customer relationships which have a useful life of fifteen years.

On October 24, 2023, our subsidiary, FIF St. George, acquired from Cable Systems, LLC, which we refer to as “Cable Systems”, substantially all of the business assets and related assets for a purchase price of $4,375,000. The consideration consisted of $3,937,500 in cash paid at closing, and an additional $437,500 in cash subject to holdback. The acquisition was completed for the purpose of expanding our broadband presence in the Western United States. Our final purchase price allocation related to Cable Systems includes property, plant and equipment, intangibles, and goodwill of $1,664,240, $1,797,000 and $913,760, respectively. The intangible assets include customer relationships which have a useful life of fifteen years.

Pro Forma Information

The following is the unaudited pro forma information assuming all business acquisitions occurred on January 1, 2023. For all the business acquisitions, depreciation and amortization have been included in the calculation of the pro forma information provided below, based upon the actual or preliminary acquisition costs. Depreciation is computed on the straight-line method over the estimated remaining economic lives of the assets, ranging from five years to forty years. Amortization is computed on the straight-line method over the estimated useful lives of the assets ranging from five to fifty years.

	*For the Year Ended*
	*December 31,*

	*2024*			*2023*

Revenue	$	108,274,901		$	97,693,127

Net Loss Attributable to Common Stockholders	$	(1,292,450	)	$	(6,371,174	)

Basic Net Loss per Share	$	(0.04	)	$	(0.20	)

Basic Weighted Average Class A and Class B Common Shares Outstanding		31,496,857			31,092,850

Diluted Net Loss per Share	$	(0.04	)	$	(0.20	)

Diluted Weighted Average Class A and Class B Common Shares Outstanding		31,496,857			31,092,850

The information included in the pro forma amounts is derived from historical information obtained from the sellers of the businesses.

Note 7 - Intangible Assets

12 Months Ended

Dec. 31, 2024

Intangible Assets Disclosure [Text Block]

NOTE 7.

INTANGIBLE ASSETS

Intangible assets consist of the following:

	*December 31, 2024*							*December 31, 2023*
			*Accumulated*							*Accumulated*
	*Cost*		*Amortization*			*Balance*		*Cost*		*Amortization*			*Balance*

Customer relationships	$	72,028,493	$	(38,854,986	)	$	33,173,507	$	72,028,493	$	(33,426,898	)	$	38,601,595
Permits, licenses, and lease acquisition costs		11,926,773		(6,656,353	)		5,270,420		11,793,354		(5,562,205	)		6,231,149
Site location		849,347		(419,955	)		429,392		849,347		(363,332	)		486,015
Noncompetition agreements		626,000		(626,000	)		-		626,000		(624,600	)		1,400
Technology		1,128,000		(608,250	)		519,750		1,128,000		(509,250	)		618,750
Trade names and trademarks		11,152,200		(2,271,025	)		8,881,175		11,152,200		(1,680,459	)		9,471,741
Nonsolicitation agreement		353,000		(176,611	)		176,389		103,000		(40,500	)		62,500
Capitalized contract costs		2,800,576		(624,175	)		2,176,401		2,974,125		(387,990	)		2,586,135
Indefinite lived intangibles		7,705,591		-			7,705,591		7,473,016		-			7,473,016

Total	$	108,569,980	$	(50,237,355	)	$	58,332,625	$	108,127,535	$	(42,595,234	)	$	65,532,301

The future amortization associated with the intangible assets is as follows:

	*December 31,*
	*2025*		*2026*		*2027*		*2028*		*2029*		*Thereafter*		*Total*

Customer relationships	$	5,428,084	$	5,428,084	$	5,398,077	$	4,719,106	$	3,364,583	$	8,835,573	$	33,173,507
Permits, licenses and lease acquisition costs		1,087,249		1,060,760		1,027,373		764,887		255,686		1,074,465		5,270,420
Site location		56,623		56,623		56,623		56,623		56,623		146,277		429,392
Noncompetition agreements		-		-		-		-		-		-		-
Technology		99,000		99,000		99,000		99,000		99,000		24,750		519,750
Trade names and trademarks		590,567		590,567		525,667		525,667		525,667		6,123,040		8,881,175
Nonsolicitation agreement		163,889		12,500		-		-		-		-		176,389
Capitalized contract costs		280,058		280,058		280,058		280,058		280,058		776,111		2,176,401

Total	$	7,705,470	$	7,527,592	$	7,386,798	$	6,445,341	$	4,581,617	$	16,980,216	$	50,627,034

Amortization expense for the years ended December 31, 2024 and 2023 was $7,683,952 and $7,409,939, respectively.

Future Amortization

The weighted average amortization period, in months, for intangible assets is as follows:

Customer relationships			73
Permits, licenses, and lease acquisition costs			58
Site location			91
Noncompetition agreements			12
Technology			63
Trade names and trademarks			180
Nonsolicitation agreement			18
Capitalized contract costs			93

BOSTON OMAHA CORPORATION
and SUBSIDIARIES

Notes to Consolidated Financial Statements

For the Years Ended December 31, 2024 and 2023

Note 8 - Investments, Including Investments Accounted for Using the Equity Method

12 Months Ended

Dec. 31, 2024

Investment [Text Block]

NOTE 8.

INVESTMENTS, INCLUDING INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD

Short-term Investments

Short-term investments consist of U.S. Treasury securities and common stock warrants. The U.S. Treasury securities are held by UCS, classified as held to maturity, mature in less than twelve months, and are reported at amortized cost which approximates fair value. Our common stock warrants of Sky Harbour Group Corporation are measured at fair value, with any unrealized holding gains and losses during the period included in earnings.

	*December 31,*
	*2024*		*2023*

U.S. Treasury notes held to maturity	$	22,411,583	$	19,195,228
Common stock warrants of Sky Harbour Group Corporation		22,541,754		5,558,241

Total	$	44,953,337	$	24,753,469

Marketable Equity Securities

Our marketable equity securities are publicly traded stocks measured at fair value using quoted prices for identical assets in active markets and classified as Level 1 within the fair value hierarchy. Our marketable equity securities are held by UCS. Marketable equity securities as of December 31, 2024 and 2023 are as follows:

			*Gross*
			*Unrealized*			*Fair*
	*Cost*		*Gain (Loss)*			*Value*

Marketable equity securities, December 31, 2024	$	2,455,024	$	(61,764	)	$	2,393,260

Marketable equity securities, December 31, 2023	$	2,279,723	$	(69,686	)	$	2,210,037

U.S. Treasury Trading Securities

We classify our investments in debt securities that are bought and held principally for the purpose of selling them in the near term as trading securities. Our debt securities classified as trading are carried at fair value in the Consolidated Balance Sheets, with the change in fair value during the period included in earnings. Interest income is recognized at the coupon rate. Debt securities classified as trading as of December 31, 2024 and 2023 are as follows:

			*Gross*
			*Unrealized*			*Fair*
	*Cost*		*Gain (Loss)*			*Value*

U.S. Treasury trading securities, December 31, 2024	$	10,949,883	$	27,086		$	10,976,969

U.S. Treasury trading securities, December 31, 2023	$	47,162,564	$	(49,905	)	$	47,112,659

Long-term Investments

Long-term investments consist of U.S. Treasury securities held to maturity, investments in special purpose entities, and equity investments in three private companies. We have the intent and the ability to hold the U.S. Treasury securities to maturity. Treasury securities are stated at amortized cost which approximates fair value and are held by UCS.

24th Street Fund I & 24th Street Fund II

On May 1, 2023, our subsidiary, Boston Omaha Asset Management, LLC, acquired 100% of the membership interests in 24th Street Asset Management LLC, from the members of 24th Street other than BOAM, for cash and BOC Class A common stock for a total purchase price of $5,016,494 in the aggregate. Prior to the transaction, BOAM indirectly owned 48% of the membership interests of 24th Street. The consideration consisted of $2,759,072 in cash at closing, an additional $1,254,102 in cash subject to holdback, and 45,644 shares of BOC Class A common stock.

As a result of the transaction, we began consolidating 24th Street and the 24th Street Funds, for which 24th Street serves as general partner. Also, in connection with the acquisition, we recognized a non-cash gain of approximately $4,600,000 related to the remeasurement of our previously-held interest in 24th Street Asset Management. The gain is included within ‘Equity in loss of unconsolidated affiliates’ in our Consolidated Statements of Operations.

Each of the 24th Street Funds’ hold investments in special purpose entities whose primary assets are real estate property. We include the 24th Street Funds’ investments in special purpose entities within long-term investments in our Consolidated Balance Sheets.

Equity Investments

During May 2018, we invested $19,058,485 in voting common stock of CB&T Holding Corporation, which we refer to as “CB&T,” the privately held parent company of Crescent Bank & Trust. Our investment represents 15.60% of CB&T’s outstanding common stock. CB&T is a closely held corporation, whose majority ownership rests with one family.

In July 2023, we invested approximately $3,000,000 in voting preferred stock of MyBundle.TV Inc., which we refer to as “MyBundle.” The preferred stock has one vote per share and is convertible into whole shares of common stock, determined according to the conversion formula contained in MyBundle’s amended and restated articles of incorporation.

	*December 31,*

	*2024*		*2023*

U.S. Treasury securities held to maturity	$	4,736,409	$	-
Investments in special purpose entities		46,936,743		64,697,093
Preferred stock		348,694		348,694
Voting preferred stock of MyBundle TV Inc.		3,000,000		3,000,000
Voting common stock of CB&T Holding Corporation		19,058,485		19,058,485

Total	$	74,080,331	$	87,104,272

We reviewed our investments as of December 31, 2024 and 2023 and concluded that no impairment to the carrying value was required.

Investment in Unconsolidated Affiliates

We have various investments in equity method affiliates, whose businesses are in real estate, real estate services, and private aviation infrastructure. One of the investments in affiliates, Logic Real Estate Companies, LLC, which we refer to as “Logic,” is managed by an entity controlled by a member of our board of directors.

Sky Harbour Group Corporation

In October 2020, our subsidiary BOC Yellowstone LLC, served as sponsor for the underwritten initial public offering of a special purpose acquisition company named Yellowstone Acquisition Company, which we refer to as "Yellowstone". Yellowstone sold in its public offering 13,598,898 units at a price of $10.00 per unit, each unit consisting of one share of Class A common stock and a redeemable warrant to purchase one-half of a share of Class A common stock at an exercise price of $11.50 per share. Between August and November 2020, we invested, through BOC Yellowstone, approximately $7.8 million through the purchase of 3,399,724 shares of Class B common stock and 7,719,779 non-redeemable private placement warrants, each warrant entitling us to purchase one share of Class A common stock at $11.50 per share. BOC Yellowstone, as the sponsor of Yellowstone and under the terms of the public offering, owned approximately 20% of Yellowstone’s issued and outstanding common stock. The purpose of the offering was to pursue a business combination in an industry other than the three industries in which we owned and operated businesses at that time: outdoor advertising, surety insurance, and broadband services businesses.

On August 1, 2021, Yellowstone entered into a business combination agreement with Sky Harbour LLC (“SHG”), a developer of private aviation infrastructure focused on building, leasing and managing business aviation hangars. On September 14, 2021, our subsidiary BOC YAC Funding LLC completed the previously-announced investment of $55 million in Series B Preferred Units of SHG. In addition to our $55 million investment, we also agreed to provide SHG an additional $45 million through the purchase of additional shares of Yellowstone Class A common stock at a price of $10 per share through a private placement investment (“PIPE”).

On January 25, 2022, Yellowstone completed the previously announced proposed business combination with SHG following stockholder approval. As a result, SHG became a consolidated subsidiary of Yellowstone and Yellowstone was renamed Sky Harbour Group Corporation, which we refer to as “Sky Harbour.” In connection with the business combination, our Series B Preferred Units of SHG converted into 5,500,000 shares of Sky Harbour Group Class A common stock at a price of $10 per share. Also, in connection with the business combination, we entered into a subscription agreement with Sky Harbour, pursuant to which Sky Harbour sold to us 4,500,000 shares of Class A common stock at a price of $10 per share, for total cash consideration of $45 million.

On November 2, 2023, Sky Harbour entered into a securities purchase agreement with certain investors, pursuant to which Sky Harbour agreed to sell and issue to the Investors at an initial closing an aggregate of 6,586,154 shares of the Company’s Class A common stock, par value $0.0001 per share and accompanying warrants to purchase up to an aggregate of 1,141,600 shares of Class A Common Stock, for an aggregate purchase price of $42,810,000. On November 29, 2023, Sky Harbour sold and issued to the Investors an aggregate of 2,307,692 PIPE Shares of the Company's Class A common stock, par value $0.0001 per share and accompanying PIPE Warrants to purchase an aggregate of 400,000 shares of Class A Common Stock for an aggregate purchase price of $15,000,000. Together with the first closing on November 2, 2023, the aggregate PIPE financing through the Purchase Agreement totaled $57,810,000. In connection with Sky Harbour's financing transactions occurring in November 2023, we recorded a dilution loss of approximately $2,200,000 within ‘Equity in income of unconsolidated affiliates’ to reflect the change in our ownership of Sky Harbour's net assets.

On October 25, 2024, Sky Harbour entered into a securities purchase agreement with certain investors, pursuant to which Sky Harbour agreed to sell and issue to the Investors at an initial closing an aggregate of 3,955,790 PIPE shares of its Class A Common stock for an aggregate purchase price of approximately $37,600,000. On December 20, 2024, Sky Harbour issued an additional 3,955,790 PIPE shares of its Class A Common Stock in connection with the exercise of all the rights to purchase additional shares provided to PIPE investors who participated in the October 2024 closing for net proceeds of approximately $37,600,000, at a sale price of $9.50 per share. Aggregate proceeds from both closings were approximately $75,200,000, representing the full capacity of the equity raise. In connection with Sky Harbour's financing transactions occurring during the fourth quarter of fiscal 2024, we recorded a dilution gain of approximately $5,100,000 within ‘Equity in income of unconsolidated affiliates’ to reflect the change in our ownership of Sky Harbour's net assets.

All the shares of Sky Harbour Class A common stock and Sky Harbour Warrants to purchase Class A common stock that we hold have been registered under the Securities Act. However, our ability to resell any significant portion of these shares is limited by both the large number of shares and warrants we hold relative to the average trading volume of these securities. Additionally, we retain one seat on Sky Harbour’s Board of Directors. The terms of the Sky Harbour business combination prohibited us from selling any of our securities in Sky Harbour prior to January 25, 2023 and has since expired. If our 16.4% equity interest in Sky Harbour, comprised of 12,401,589 shares of Class A common stock, was accounted for at fair value based on its quoted market price as of December 31, 2024, it would be valued at approximately $148,000,000.

The following table is a reconciliation of our investments in equity affiliates as presented in investments in unconsolidated affiliates on our Consolidated Balance Sheets, together with combined summarized financial data related to the unconsolidated affiliates:

	*December 31,*

	*2024*			*2023*

Beginning of year	$	94,244,788		$	118,218,389
Additional investments in unconsolidated affiliates		21,000			19,500
Distributions received		-			(271,355	)
Transfer of interest		(2,748,292	)		-
Sale of interest		(1,798,348	)		-
Reclassification to consolidated subsidiaries		-			(15,832,981	)
Equity in loss of unconsolidated affiliates		(17,283,281	)		(7,888,765	)

End of year	$	72,435,867		$	94,244,788

Combined summarized financial data for these affiliates is as follows:

	*December 31,*

	*2024*			*2023*

Revenue	$	19,281,724		$	14,925,054
Gross profit		16,006,913			11,232,952
Loss from continuing operations		(20,534,728	)		(17,414,314	)
Net loss	$	(53,800,324	)	$	(22,349,383	)

Note 9 - Fair Value

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Text Block]

NOTE 9.

FAIR VALUE

The fair value hierarchy prioritizes inputs to valuation techniques used to measure fair value into three broad levels:

Level 1 — Observable inputs such as unadjusted quoted prices in active markets for identical assets or liabilities.

Level 2 — Inputs other than quoted prices in active markets that are observable either directly or indirectly, including: quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active or other inputs that are observable or can be corroborated by observable market data.

Level 3 — Unobservable inputs that are supported by little or no market data and require the reporting entity to develop its own assumptions.

At December 31, 2024 and 2023, our financial instruments included cash, cash equivalents, receivables, marketable securities, investments, accounts payable, and long-term debt. The carrying value of cash, cash equivalents, receivables, and accounts payable approximates fair value due to the short-term nature of the instruments. The carrying value of borrowings, if any, under our billboard revolving line of credit facility as well as our broadband term loan facility approximates fair value because of the variable market interest rate charged to us for these borrowings. The fair value of borrowings under our billboard term loan facility is estimated using quoted prices for similar debt (level 2 in the fair value hierarchy). At December 31, 2024, the estimated fair value of our billboard term loan borrowings included within long-term debt was $24,500,000, which is less than the approximate carrying amount of $26,500,000.

Warrants

Our Private Placement warrants related to Sky Harbour are considered level 2 and measured at fair value using observable inputs for similar assets in an active market. Our re-measurement of the Private Placement Warrants for the years ended December 31, 2024 and 2023, resulted in gains of approximately $17,000,000 and $4,000,000, respectively, which are included within Other investment income within our Consolidated Statements of Operations.

Fund I, Fund II and BFR Special Purpose Entities

We report fund investments on our Consolidated Balance Sheets at their estimated fair value, with gains (losses) resulting from changes in fair value reflected within ‘Other investment income’ in the accompanying Consolidated Statements of Operations. Each of the 24th Street Funds’ and BFR's investments in special purpose entities invested in real estate are categorized in Level 3 of the fair value hierarchy. The primary asset held by each special purpose entity is real estate property, for which third-party appraisals were obtained. Appraisals of the investments in special purpose entities used an income capitalization and/or comparable sales approach to value the underlying real estate property. The income capitalization approach used capitalization rates ranging from 6.25% to 6.75%. The comparable sales approach used observable market transactions to value the underlying real estate property. As of December 31, 2024, the aggregate fair value of the 24th Street Funds’ and BFR's investments in special purpose entities was approximately $46,900,000.

Marketable Equity Securities

On an investment life-to-date basis, we have realized net gains on the sale of equity securities within the marketable equity portfolio held at Boston Omaha of approximately $84,000,000. These amounts exclude any realized gains on equity securities held within the marketable equity portfolio managed by UCS.

Sky Harbour Group Corporation Class A common stock

We account for our 16.4% equity interest in Sky Harbour, comprised of 12,401,589 shares of Class A common stock, under the equity method. If our investment in Sky Harbour’s Class A common stock was accounted for at fair value based on its quoted market price as of December 31, 2024 it would be valued at approximately $148,000,000.

Marketable Equity Securities and U.S. Treasury Trading Securities

Marketable equity securities and U.S. Treasury trading securities are reported at fair values. Substantially all of the fair value is determined using observed prices of publicly traded securities, level 1 in the fair value hierarchy.


			*Quoted Prices*		*Realized Gains*		*Total Changes*
	*Total Carrying*		*in Active*		*and (Losses)*		*in Fair Values*
	*Amount in*		*Markets for*		*Included in*		*Included in*
	*Consolidated*		*Identical*		*Current Period*		*Current Period*
	*Balance Sheet*		*Assets*		*Earnings (Loss)*		*Earnings (Loss)*

Marketable equity securities and U.S. Treasury trading securities at December 31, 2024	$	13,370,229	$	13,370,229	$	1,063,730	$	1,029,051

Marketable equity securities and U.S. Treasury trading securities at December 31, 2023	$	49,322,696	$	49,322,696	$	740,892	$	4,411,489

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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Note 10 - Income Taxes

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Text Block]

NOTE 10.

INCOME TAXES

We are subject to taxation in all jurisdictions in which we operate that impose an income tax on our business activities.

The components of the income tax expense for the years ended December 31, and the tax effects of temporary differences that give rise to deferred taxes at December 31, are as follows:

	*December 31,*
	*2024*			*2023*

Income tax (benefit) provision:
Current federal income tax expense	$	-		$	-
Current state income tax expense		2,992			166,223
Deferred federal income tax benefit		272,435			(2,138,204	)
Deferred state income tax benefit		(550,248	)		(1,006,757	)

Total income tax benefit	$	(274,821	)	$	(2,978,738	)

Deferred tax assets:
Net operating loss carryforwards	$	21,943,518		$	18,672,782
Tax credits		643,945			643,945
Lease liabilities		13,228,639			14,555,615
Premium adjustments and IBNR		440,447			580,373
Long-term investments		4,768,942			-
Disallowed interest expense carryforwards		78,388			1,204
Other		103,687			70,452
Total deferred tax assets		41,207,566			34,524,371
Valuation allowance		(862,510	)		(846,633	)

Net deferred tax assets	$	40,345,056		$	33,677,738

Deferred tax liabilities:
Property and equipment	$	(22,263,046	)	$	(19,504,745	)
Intangibles		(11,510,781	)		(8,269,752	)
Right of use assets		(13,224,225	)		(14,684,988	)
Long-term investments		-			(2,570,253	)
Unrealized gain on securities		(5,272,973	)		(759,812	)

Total deferred tax liabilities		(52,271,025	)		(45,789,550	)

Net deferred tax liabilities	$	(11,925,969	)	$	(12,111,812	)

The realization of deferred tax assets, including net operating loss carryforwards, is dependent on the generation of future taxable income sufficient to realize the tax deductions, carryforwards and credits. Valuation allowances on deferred tax assets are recognized if it is determined that it is more likely than not that the asset will not be realized. As of December 31, 2024, the Company has only recorded a valuation allowance against certain state net operating loss deferred tax assets that it has determined to be more-likely-than-not not realizable.

As of December 31, 2024, we have available federal tax operating loss carry forwards of approximately $91.1 million. Of the $91.1 million, $7.1 million arose in tax years beginning before December 31, 2017 and may be carried forward 20 years. The remaining tax net operating losses were generated in years beginning after December 31, 2017. Tax net operating loss carry forwards generated in years beginning after December 31, 2017 may be carried forward indefinitely but are only available to offset 80% of future taxable income. We have available state tax operating loss carry forwards of approximately $61.6 million, which are available to reduce future state taxable income and expire at various times and amounts.

Pursuant to Section 382 of the Internal Revenue Code of 1986, as amended, annual use of our net operating losses may be limited if it is determined that an ownership shift has occurred. An ownership shift is generally defined as a cumulative change in equity ownership by ‘‘5% shareholders’’ that exceeds 50 percentage points over a rolling three-year period. We have determined that through December 31, 2024, two ownership shifts occurred; however, we do not anticipate that these shifts would result in any permanent limitation on our ability to utilize our net operating loss and credit carryforward amounts.

The reconciliation of our total income tax expense (benefit) at the federal statutory income tax rate and our actual effective income tax rate is as follows:

	*For the Year Ended December 31,*
	*2024*			*2023*

Federal income tax at statutory rate	$	644,659		$	(1,941,583	)
State tax income taxes, net of federal benefit		(138,994	)		(1,118,721	)
Non-controlling interest		(1,126,491	)		(213,753	)
Provision to return adjustments		(1,092,238	)		129,405
Limitation on deduction for officer compensation		539,138			-
Permanent differences		60,886			137,649
State rate change		719,612			-
Valuation allowance		15,877			14,510
Other		102,730			13,755
Total income tax benefit	$	(274,821	)	$	(2,978,738	)

Uncertain Tax Positions

We believe that there are no tax positions taken or expected to be taken that would significantly increase or decrease unrecognized tax benefits within 12 months of the reporting date.

As of December 31, 2024 we do not have any open or ongoing exams by any taxing authorities. The federal and state statutes of limitation for assessment of tax liability generally lapse three and four years, respectively, after the date the tax returns are filed. However, income tax attributes that are carried forward, such as net operating loss carryforwards, may be challenged and adjusted by taxing authorities at any time prior to the expiration of the statute of limitations for the tax year in which they are utilized.

The entire disclosure for income tax.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Note 11 - Asset Retirement Obligations

12 Months Ended

Dec. 31, 2024

Asset Retirement Obligation Disclosure [Text Block]

NOTE 11.

ASSET RETIREMENT OBLIGATIONS

Our asset retirement obligations include the costs associated with the removal of structures, resurfacing of the land and retirement cost, if applicable, related to our outdoor advertising and broadband assets. The following table reflects information related to our asset retirement obligations:

Balance, January 1, 2023	$	3,569,580
Additions		8,904
Accretion expense		216,501
Liabilities settled		-
Balance, December 31, 2023	$	3,794,985
Additions		-
Accretion expense		218,472
Liabilities settled		-
Balance, December 31, 2024	$	4,013,457

Note 12 - Capital Stock

12 Months Ended

Dec. 31, 2024

Equity [Text Block]

NOTE 12.

CAPITAL STOCK

On April 25, 2022, we filed a new shelf registration statement on Form S-3 (File No. 333-264470) that was declared effective on May 11, 2022, relating to the offering of Class A common stock, preferred stock, par value $0.001 per share, which we refer to as “preferred stock,” debt securities and warrants of the Company for up to $500,000,000 (the "2022 Shelf Registration Statement"). Additionally, in the 2022 Shelf Registration Statement, we have registered for resale up to 8,297,093 shares of Class A common stock acquired in 2018 or earlier in private placements in accordance with the terms of a 2018 registration rights agreement. We will not receive any proceeds from the sale of Class A common stock by the selling shareholders. The selling stockholders are the Massachusetts Institute of Technology, or “MIT,” as well as 238 Plan Associates LLC, an MIT pension and benefit fund and a limited partnership holding our Class A common stock for the economic benefit of MIT. In May 2022, we also registered 1,018,660 shares of Class A common stock held by Magnolia and Boulderado and their affiliates. All the shares held by Boulderado were repurchased by the Company in May 2024 and, as a result, 522,231 shares of our Class A common stock are available for resale under that registration statement. As of December 31, 2024, certain of our stockholders still hold 8,555,957 registered shares of our Class A common stock. We may, from time to time, in one or more offerings, offer and sell Class A common stock or preferred stock, various series of debt securities and/or warrants. We or any selling security holders may offer these securities from time to time in amounts, at prices and on terms determined at the time of offering. We may sell these securities to or through one or more underwriters, dealers or agents, or directly to purchasers on a delayed or continuous basis. Unless otherwise set forth in an applicable prospectus supplement, we intend to use the net proceeds from the sale of the securities that we offer for general corporate purposes, including, but not limited to, financing our existing businesses and operations, and expanding our businesses and operations through additional hires, strategic alliances, and acquisitions. Unless otherwise set forth in a prospectus supplement, we will not receive any proceeds from the sale of securities by any selling stockholders.

On December 8, 2022, we entered into an “at the market” equity offering program (the “ATM Program”) pursuant to a Sales Agreement (the “Sales Agreement”) by and between us and Wells Fargo Securities, LLC (“WFS”). This ATM Program is consistent with our historical practice of having available to management the option to issue stock from time to time in order to continue to fund the growth of our fiber-to-the-home broadband business, acquire additional billboards, and make other such investments in assets as needed to seek to grow intrinsic value per share. Our general preference is always to have options available to us from a capital allocation perspective which includes, but is not limited to, having a regularly filed ATM program. Pursuant to the terms of the Sales Agreement, we may sell, from time to time, shares of our Class A common stock, with an aggregate sales price of up to $100,000,000 through WFS, in transactions that are deemed to be “at the market” offerings as defined in Rule 415 of the Securities Act of 1933, as amended (the “Securities Act”).

Upon delivery of a placement notice (a “Placement Notice”) and upon the terms and subject to the conditions of the Sales Agreement, WFS will use reasonable efforts consistent with its normal trading and sales practices, applicable laws and the rules of the New York Stock Exchange (“NYSE”) to sell the shares of Class A common stock from time to time based upon our instructions for the sales, including price, time, or size limits specified, and otherwise in accordance with, the terms of such Placement Notice. Pursuant to the Sales Agreement, WFS may sell shares of Class A common stock by any method permitted by law deemed to be an “at the market” offering as defined in Rule 415 of the Securities Act, including without limitation sales made through the NYSE or on any other existing trading market for the Class A common stock. Notwithstanding the foregoing, WFS may not purchase shares of Class A common stock for its own account as principal unless expressly authorized to do so by the Company.

We intend to use the net proceeds, if any, from any future offering under the ATM Program, after deducting WFS’ commissions and our offering expenses, for general corporate purposes, which may include financing our existing businesses and operations, and expanding our businesses and operations through additional acquisitions and minority investments, and additional hires. Such expansion may include future billboard acquisitions, broadband acquisitions, acquisitions of surety insurance companies and other growth of the Company’s insurance activities, additional investments in real estate management and other real estate service businesses, additional investments in subprime automobile lending, and acquisitions of other businesses. We have not determined the amount of net proceeds to be used for any specific purpose, and management will retain broad discretion over the allocation of net proceeds. While the Company has no current agreements, commitments or understandings for any specific acquisitions at this time, it may use a portion of the net proceeds for these purposes.

From January 1, 2023 through December 31, 2023, we sold 1,532,065 shares of our Class A common stock under the ATM Program for gross proceeds of $37,526,663. For sales of Class A common stock by WFS, we paid WFS a commission at a rate of 3% of the gross sales price per share. In addition, we have agreed to pay certain expenses incurred by WFS in connection with the offering. We did not sell any shares of our Class A common stock under the ATM program during fiscal 2024. We have no obligation to sell any shares under the Sales Agreement and may at any time suspend the offering of the ATM Program under the Sales Agreement. The Sales Agreement contains customary representations and warranties of the parties and indemnification and contribution provisions under which we and WFS have agreed to indemnify each other against certain liabilities, including liabilities under the Securities Act. The ATM Program pursuant to the Sales Agreement will automatically terminate upon the issuance and sale of all the shares through WFS in an aggregate amount of $100,000,000. We also have the right to terminate the ATM Program with WFS upon notice to WFS without penalty.

On July 23, 2024, the Board approved and authorized a share repurchase program (the “Share Repurchase Program”), pursuant to which the Company intends to repurchase up to $20 million of its Class A common stock, from time to time, in the open market, privately negotiated transactions, or otherwise in compliance with Rule 10b- 18 under the Securities Exchange Act of 1934. The Board also authorized the Company, in its discretion, to establish “Rule 10b5- 1 trading plans” for these share repurchases. The Share Repurchase Program went into effect on or about August 15, 2024, following the release of the quarterly report on Form 10-Q for the quarter ended June 30, 2024 and will terminate on September 30, 2025, unless earlier terminated in the discretion of the Board. The actual timing, number, and value of shares repurchased under the Share Repurchase Program will depend on a number of factors, including constraints specified in applicable SEC regulations, price, general business and market conditions, and alternative investment opportunities. Pursuant to the Share Repurchase Program, the Company is not obligated to repurchase any specific number of shares of its Class A common stock and shall not repurchase more than 25% of the average daily volume of its stock over the previous 20 trading days. During 2024, we repurchased 111,323 shares of our Class A common stock for a total cost of $1,589,322.

At December 31, 2024, there were 52,778 outstanding warrants for our Class B common stock and 784 outstanding warrants for our Class A common stock. Each share of Class B common stock is identical to the Class A common stock in liquidation, dividend and similar rights. The only differences between our Class B common stock and our Class A common stock is that each share of Class B common stock has 10 votes for each share held, while the Class A common stock has a single vote per share, and certain actions cannot be taken without the approval of the holders of the Class B common stock.

A summary of warrant activity for the years ended December 31, 2024 and 2023, is presented in the following table:

	*Shares Under Warrants*			*Weighted Average Exercise Price*		*Weighted Average Remaining Contractual Life (in years)*		*Aggregate Intrinsic Value of Vested Warrants*

Outstanding as of January 1, 2023		105,556		$	9.95		2.5	$	1,746,952
Issued		-
Exercised		-
Expired		-

Outstanding as of December 31, 2023		105,556		$	9.95		1.5	$	610,114

Issued		-
Exercised		-
Redeemed		(51,994	)
Expired		-

Outstanding as of December 31, 2024		53,562		$	9.95		0.5	$	226,567

Separation Agreement with Alex Rozek

On May 9, 2024, the Company, Alex B. Rozek, and certain other parties set forth therein, entered into a Separation and Stock Repurchase Agreement (the “Separation Agreement”). Effective as of May 9, 2024, Mr. Rozek resigned as an officer and director of the Company and all its direct and indirect subsidiaries. Mr. Rozek continues to serve as a member of the board of directors of Sky Harbour.

Securities Repurchase

Pursuant to the Separation Agreement, the Company repurchased from Mr. Rozek and Boulderado Partners, LLC, an entity controlled by Mr. Rozek, in the aggregate, 210,000 shares of Company Class A Common Stock, 527,780 shares of Company Class B Common Stock, and 51,994 warrants to acquire 51,994 shares of Company Class B Common Stock.

The price of the Class A shares repurchased was based on the 30-trading day volume-weighted average price of the Class A Common Stock for the 30 trading days ending two trading days prior to the execution of the Separation Agreement. The price of the Class B shares repurchased was based on the 30-trading day volume-weighted average price of the Class A Common Stock for the 30 trading days ending two trading days prior to the execution of the Separation Agreement plus a blocking/control premium, for which management employed a third-party valuation expert.

The aggregate purchase price paid to Mr. Rozek was $9,175,605, comprised of cash payments of $8,800,480 and 36,705 shares of Class A Common Stock of Sky Harbour. The aggregate purchase price paid to Boulderado was $9,951,113, comprised of cash payments of $7,960,891 and 194,738 shares of Class A Common Stock of Sky Harbour.

Separation and Benefits

Pursuant to the Separation Agreement, (a) we transferred to Mr. Rozek 200,000 shares of Class A Common Stock, par value $0.0001 of Sky Harbour, as consideration for his efforts in connection with the successful launch of Sky Harbour, (b) Mr. Rozek received severance of $960,000, to be paid in equal monthly installments for a period of 18 months, and (c) Mr. Rozek received employee benefits of $75,000, to be paid in equal monthly installments for a period of 18 months, each of which are included within "Employee costs" within our Consolidated Statements of Operations.

Mr. Rozek agreed to customary non-solicitation, non-competition, confidentiality, cooperation, and return of property covenants. As consideration for entering into a non-competition agreement, we paid Mr. Rozek $250,000.

In addition, Mr. Rozek and the named executive officers and board of directors of the Company agreed to a mutual non-disparagement covenant, and the Company agreed, subject to certain conditions, to retain Mr. Rozek as its representative on the board of directors of Sky Harbour until December 31, 2026.

The entire disclosure for equity.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Note 13 - Long-term Debt

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Text Block]

NOTE 13.

LONG-TERM DEBT

Link Credit Facility

On August 12, 2019, Link Media Holdings, Inc., (“Link”), a wholly owned subsidiary of Boston Omaha Corporation (“BOC”), which owns and operates BOC’s billboard businesses, entered into a Credit Agreement (the “Credit Agreement”) with First National Bank of Omaha (the “Lender”) under which Link could borrow up to $40,000,000 (the “Credit Facility”). The Credit Agreement provided for an initial term loan (“Term Loan 1”), an incremental term loan (“Term Loan 2”) and a revolving line of credit. Link initially borrowed approximately $18,000,000 under Term Loan 1 and $5,500,000 under Term Loan 2. These loans are secured by all assets of Link and its operating subsidiaries, including a pledge of equity interests of each of Link’s subsidiaries. In addition, each of Link’s subsidiaries has joined as a guarantor to the obligations under the Credit Agreement. These loans are not guaranteed by BOC or any of BOC’s non-billboard businesses.

On December 6, 2021, Link entered into a Fourth Amendment to the Credit Agreement with the Lender which modified the original Credit Agreement by merging all outstanding principal amounts under both Term Loan 1 and Term Loan 2 into one term loan (the “Term Loan”) having a fixed interest rate of 4.00% per annum, and increasing the total Term Loan borrowing limit to $30,000,000.

On May 31, 2022, Link entered into a Fifth Amendment to the Credit Agreement with the Lender which modified the Credit Agreement by extending the period of time under which Link may issue to BOC a cash dividend from January 31, 2022 to June 30, 2022 in an amount up to $8,125,000 in the aggregate.

On April 6, 2023, Link entered into a Sixth Amendment to Credit Agreement (the “Sixth Amendment”) with the Lender. The Sixth Amendment modifies the Credit Agreement to provide additional flexibility for Link in making “Investment Capital Expenditures” by no longer deducting expenditures which qualify as Investment Capital Expenditures from EBITDA in calculating the Consolidated Fixed Charge Coverage Ratio. As a result, only “Maintenance Capital Expenditures” shall be deducted from EBITDA in testing the Consolidated Fixed Charge Coverage Ratio. The amount of unfunded Investment Capital Expenditures (Investment Capital Expenditures other than expenditures funded by BOC) allowable during any test period shall not exceed the Investment Capital Expenditure Available Amount during such test period.

On September 22, 2023, Link entered into a Seventh Amendment to the Credit Agreement with the Lender which modified the Credit Agreement by increasing the maximum availability under the revolving line of credit loan facility from $5,000,000 to $10,000,000.

On February 14, 2024, Link entered into an Eighth Amendment to the Credit Agreement with the Lender which modified the Credit Agreement to provide additional flexibility for Link to issue dividends to BOC.

On May 30, 2024, Link entered into a Ninth Amendment to the Credit Agreement with the Lender which modified the Credit Agreement by increasing the maximum availability under the revolving line of credit loan facility from $10,000,000 to $15,000,000.

As of December 31, 2024, Link has borrowed $30,000,000 through the Term Loan under the Credit Facility. Principal amounts under the Term Loan are payable in monthly installments according to a 25-year amortization schedule. Principal payments commenced on July 1, 2020 for amounts previously borrowed under Term Loan 1 and October 1, 2020 for amounts previously borrowed under Term Loan 2. The Term Loan is payable in full on December 6, 2028.

The revolving line of credit loan facility has a $15,000,000 maximum availability. Interest payments are based on the 30-day U.S. Prime Rate minus an applicable margin ranging between 0.65% and 1.15% dependent on Link’s consolidated leverage ratio. The revolving line of credit is due and payable on August 12, 2026.

Long-term debt included within our Consolidated Balance Sheets as of December 31, 2024 and 2023 consists of Term Loan borrowings of approximately $26,500,000 and $27,300,000, respectively, of which approximately $900,000 and $800,000 are classified as current, respectively. As of December 31, 2024, there was $9,600,000 outstanding related to the revolving line of credit, which is included within long-term debt in our Consolidated Balance Sheets. There were no amounts outstanding related to the revolving line of credit as of December 31, 2023.

During the term of the Credit Facility, Link is required to comply with the following financial covenants: A consolidated leverage ratio for any test period ending on the last day of any fiscal quarter of Link (a) beginning with the fiscal quarter ended June 30, 2024 of not greater than 3.50 to 1.00, (b) beginning with the fiscal quarter ending December 31, 2026 of not greater than 3.25 to 1.00, and (c) beginning with the fiscal quarter ending December 31, 2027 and thereafter, of not greater than 3.00 to 1.0, and a minimum consolidated fixed charge coverage ratio of not less than 1.15 to 1.00 measured quarterly, based on a rolling four quarters. The Company was in compliance with these covenants as of December 31, 2024.

The Credit Agreement includes representations and warranties, reporting covenants, affirmative covenants, negative covenants, financial covenants, and events of default customary for financings of this type. Upon the occurrence of an event of default the Lender may accelerate the loans. Upon the occurrence of certain insolvency and bankruptcy events of default the loans will automatically accelerate.

The aggregate minimum principal payments required on long-term debt as of December 31, 2024 were as follows: $851,444 in 2025, $886,624 in 2026, $923,257 in 2027, $23,861,813 in 2028.

Boston Omaha Broadband Credit Facility

On September 17, 2024, three operating subsidiaries of Boston Omaha Broadband, LLC (“BOB”) entered into a Credit Agreement (the “BOB Credit Agreement”) with First National Bank of Omaha (the “Lender”) under which certain subsidiaries of BOB can borrow up to $20,000,000 in the aggregate in term loans (the “BOB Credit Facility”). The three operating subsidiaries which are the borrowers under the BOB Credit Agreement are FIF AireBeam, LLC, FIF St. George, LLC, and FIF Utah, LLC (collectively, the “Borrowers”). The loan is guaranteed by BOB but is not guaranteed by BOC or any other businesses owned by BOC and its other subsidiaries. The loans under the BOB Credit Facility are secured by all assets of each of the Borrowers. Funds available under the BOB Credit Facility are to be used for capital expenditures associated with capital acquisition and leasing of capital equipment for expansion of the Borrowers’ businesses and must be drawn by September 16, 2025.

The BOB Credit Agreement provides for incremental drawdowns of the term loan in minimum increments of $1,000,000. Each term loan is due five years following the borrowing date of such term loan. Principal under each term loan is amortized in equal monthly payments over a 10-year period from the date of each term loan. Interest under each term loan accrues at the “Applicable Margin,” which is set at (a) 2.75% per annum with respect to any SOFR Loan, and (b) 1.75% per annum with respect to any Base Rate Loan. There is a fee during the first year of the Credit Facility equal to 0.25% of any unused portion of the $20 million loan commitment.

Pursuant to the BOB Credit Agreement, BOB is required to comply with the following financial covenants: A consolidated leverage ratio for any test period ending on the last day of any fiscal quarter of BOB of not greater than 3.50 to 1.00, a minimum consolidated fixed charge coverage ratio of not less than 1.15 to 1.00 measured quarterly, based on rolling four quarters, and maximum capital expenditures not exceeding Consolidated Adjusted EBITDA less dividends and distributions paid to BOB, the cash portion of taxes, unfinanced maintenance capital expenditures, principal amortization payments or redemptions on indebtedness to be paid in cash, cash payments made with respect to capital lease obligations during the period, and cash interest expense for the period.

The BOB Credit Agreement includes representations and warranties, reporting covenants, affirmative covenants, negative covenants, financial covenants, and events of default customary for financings of this type. Upon the occurrence of an event of default the Lender may accelerate the loan. Upon the occurrence of certain insolvency and bankruptcy events of default the loan will automatically accelerate. All assets of the Borrowers, their Subsidiaries and BOB are secured by the grant of a security interest in substantially all their assets to the Lender. The Company was in compliance with these covenants as of December 31, 2024.

As of December 31, 2024, there was approximately $3,400,000 outstanding under the BOB Credit Agreement. The aggregate minimum principal payments required on long-term debt as of December 31, 2024 were as follows: $350,000 in 2025, $350,000 in 2026, $350,000 in 2027, $350,000 in 2028, and $2,041,666 in 2029.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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Note 14 - Leases

12 Months Ended

Dec. 31, 2024

Lessee, Operating Leases [Text Block]

NOTE 14.

LEASES

We enter into operating lease contracts primarily for land and office space. Agreements are evaluated at inception to determine whether such arrangements contain a lease. Operating leases include land lease contracts and contracts for the use of office space.

Right of use assets, which we refer to as “ROU assets,” represent the right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the respective lease term. Lease expense is recognized on a straight-line basis over the lease term.

Certain of our operating lease agreements include rental payments based on a percentage of revenue and others include rental payments adjusted periodically for inflationary changes. Percentage rent contracts, in which lease expense is calculated as a percentage of advertising revenue, and payments due to changes in inflationary adjustments are included within variable rent expense, which is accounted for separately from periodic straight-line lease expense.

Many of our leases entered into in connection with land provide options to extend the terms of the agreements. Generally, renewal periods are included in minimum lease payments when calculating the lease liabilities as, for most leases, we consider exercise of such options to be reasonably certain. As a result, optional terms and payments are included within the lease liability. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The implicit rate within our lease agreements is generally not determinable. As such, we use the incremental borrowing rate, which we refer to as “IBR,” to determine the present value of lease payments at the commencement of the lease. The IBR, as defined in ASC 842, is “the rate of interest that a lessee would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment.”

Operating Lease Cost

Operating lease cost for the years ended December 31, 2024 and 2023 is as follows:

	*Year Ended*		*Year Ended*
	*Ended*		*Ended*
	*December 31, 2024*		*December 31, 2023*		*Statement of Operations Classification*

Lease cost	$	8,644,098	$	8,615,322	Cost of billboard revenues and general and administrative
Variable and short-term lease cost		2,854,938		2,429,724	Cost of billboard revenues and general and administrative

Total Lease Cost	$	11,499,036	$	11,045,046

Supplemental cash flow information related to operating leases was as follows:

	*Year Ended*		*Year Ended*
	*Ended*		*Ended*
	*December 31, 2024*		*December 31, 2023*

Cash payments for operating leases	$	8,402,005	$	8,312,237
New operating lease assets obtained in exchange for operating lease liabilities	$	3,911,148	$	1,843,316

Operating Lease Assets and Liabilities

	*December 31, 2024*		*December 31, 2023*		*Balance Sheet Classification*

Lease assets	$	59,742,166	$	61,399,460	Other Assets: Right of use assets

Current lease liabilities	$	5,333,611	$	5,085,221	Current Liabilities: Lease liabilities
Noncurrent lease liabilities		54,994,879		56,438,308	Long-term Liabilities: Lease liabilities

Total Lease Liabilities	$	60,328,490	$	61,523,529

Maturity of Operating Lease Liabilities

	*December 31, 2024*

2025	$	8,302,957
2026		7,864,961
2027		7,550,960
2028		7,175,906
2029		6,336,586
Thereafter		53,849,888

Total lease payments		91,081,258
Less imputed interest		(30,752,768	)

Present Value of Lease Liabilities	$	60,328,490

As of December 31, 2024 our operating leases have a weighted-average remaining lease term of 16.04 years and a weighted-average discount rate of 5.1%.

Note 15 - Industry Segments

12 Months Ended

Dec. 31, 2024

Segment Reporting Disclosure [Text Block]

NOTE 15.

INDUSTRY SEGMENTS

This summary presents our current segments, as described below.

General Indemnity Group, LLC

GIG conducts our insurance operations through its subsidiaries, UCS and BOSS Bonds Insurance Agency, LLC, formerly known as South Coast Surety Insurance Services, LLC. Both BOSS Bonds and UCS clients are nationwide. Revenue consists of surety bond sales and insurance commissions. GIG’s corporate resources are used to support BOSS Bonds and UCS, and to make additional business acquisitions in the insurance industry.

Link Media Holdings, LLC

LMH conducts our billboard rental operations. LMH billboards are located in Alabama, Arkansas, Florida, Georgia, Illinois, Iowa, Kansas, Missouri, Nebraska, Nevada, Oklahoma, South Dakota, Tennessee, Virginia, West Virginia, and Wisconsin.

Boston Omaha Broadband, LLC

BOB conducts our broadband operations. BOB provides high-speed broadband services to its customers located mainly in Arizona, Florida, Nevada, and Utah.

Boston Omaha Asset Management, LLC

BOAM conducts our asset management operations. BOAM’s primary objective is to achieve long-term returns while seeking to limit the risk of capital and purchasing power loss in our investments in other companies and our real estate activities. We commenced reporting BOAM as a separate segment based on our acquisition of 24th Street Asset Management on May 1, 2023 and are in the process of winding down its operations.

The accounting policies of the above segments are the same as those described within Footnote 2 “Summary of Significant Accounting Policies”.

Resources are allocated and performance is assessed by our CEO, whom we have determined to be our Chief Operating Decision Maker (CODM). The CODM evaluates the performance of our segments and allocates resources to them based on segment operating income and segment adjusted EBITDA. We define adjusted EBITDA as net income (loss) before income tax expense (benefit), noncontrolling interest in subsidiary income (loss), interest expense, interest and dividend income, depreciation, amortization, accretion, gain or loss on disposition of assets, and other investment income (loss).

The cost and expense information provided below is based on the information regularly provided to the CODM. Given the diversity of our operating segments and the differences in revenue streams and cost structures, there are variances in the form, content, and levels of such expense information significant to the business. Expenses considered significant for one operating segment may not be significant in others.

The table below presents information about reported segments for the years ending December 31:

															*Total*
Year Ended December 31, 2024	*GIG*		*LMH*			*BOB*			*BOAM*			*Unallocated*			*Consolidated*

Operating Revenues	$	23,851,450	$	45,153,076		$	39,098,228		$	172,147		$	-		$	108,274,901
Cost of Revenues		9,400,691		15,496,805			9,444,030			-						34,341,526
Gross Margin		14,450,759		29,656,271			29,654,198			172,147			-			73,933,375
Other Operating Expenses
Employee costs		8,499,669		7,812,497			15,541,832			766,064			5,526,131			38,146,193
Professional fees		487,447		223,165			850,528			754,253			2,582,751			4,898,144
General and administrative		2,647,495		4,033,121			7,418,184			562,824			1,576,030			16,237,654
Depreciation		154,897		5,151,286			9,078,651			-			110,913			14,495,747
Amortization		160,247		3,902,738			3,509,856			-			111,111			7,683,952
Accretion		-		204,659			13,813			-			-			218,472
Loss on disposition of assets		-		63,455			657,236			-			-			720,691
Total expenses		11,949,755		21,390,921			37,070,100			2,083,141			9,906,936			82,400,853
Segment Income (Loss) from Operations		2,501,004		8,265,350			(7,415,902	)		(1,910,994	)		(9,906,936	)		(8,467,478	)

Interest expense		-		(1,547,124	)		(51,124	)		-			-			(1,598,248	)
Interest and dividend income		-		136,908			19,105			536,524			693,347			1,385,884
Equity in loss of unconsolidated affiliates		-		-			-			-			(17,283,281	)		(17,283,281	)
Other investment income		218,015		-			-			7,815,912			21,025,790			29,059,717
Noncontrolling interest in subsidiary income		-		-			-			(4,599,100	)		(64,765	)		(4,663,865	)
Income tax benefit		-		-			-			-			274,821			274,821
Net Income (Loss) Attributable to Common Stockholders	$	2,719,019	$	6,855,134		$	(7,447,921	)	$	1,842,342		$	(5,261,024	)	$	(1,292,450	)

Segment adjusted EBITDA	$	2,816,148	$	17,587,488		$	5,843,654		$	(1,910,994	)	$	(9,684,912	)	$	14,651,384

Capital expenditures	$	28,951	$	2,462,001		$	29,460,239		$	-		$	250,000		$	32,201,191

															*Total*
Year Ended December 31, 2023	*GIG*		*LMH*			*BOB*			*BOAM*			*Unallocated*			*Consolidated*

Operating Revenues	$	17,705,891	$	42,940,369		$	35,340,502		$	266,974		$	-		$	96,253,736
Cost of Revenues		6,808,167		15,136,817			9,955,518			-						31,900,502
Gross Margin		10,897,724		27,803,552			25,384,984			266,974			-			64,353,234
Other Operating Expenses																-
Employee costs		6,500,480		7,072,960			14,527,407			1,574,332			2,886,750			32,561,929
Professional fees		596,245		804,203			823,969			321,363			2,119,735			4,665,515
General and administrative		1,970,121		3,902,279			7,093,277			753,320			2,393,246			16,112,243
Depreciation		152,388		5,075,358			6,816,929			-			110,421			12,155,096
Amortization		160,246		3,933,290			3,316,403			-						7,409,939
Accretion		-		199,211			17,290			-			-			216,501
Loss (gain) on disposition of assets		-		206,832			(122,418	)		-			-			84,414
Total expenses		9,379,480		21,194,133			32,472,857			2,649,015			7,510,152			73,205,637
Segment Income (Loss) from Operations		1,518,244		6,609,419			(7,087,873	)		(2,382,041	)		(7,510,152	)		(8,852,403	)

Interest expense		-		(1,126,538	)		(20,696	)		-			-			(1,147,234	)
Interest and dividend income		-		170,287			38,360			1,058,527			1,341,974			2,609,148
Equity in income (loss) of unconsolidated affiliates		-		-			-			4,630,610			(12,519,375	)		(7,888,765	)
Other investment income		538,621		-			-			980,410			4,613,760			6,132,791
Noncontrolling interest in subsidiary loss (income)		-		-			75,008			(911,292	)		-			(836,284	)
Income tax benefit		-		-			-			-			2,978,738			2,978,738
Net Income (Loss) Attributable to Common Stockholders	$	2,056,865	$	5,653,168		$	(6,995,201	)	$	3,376,214		$	(11,095,055	)	$	(7,004,009	)

Segment adjusted EBITDA	$	1,830,878	$	16,024,110		$	2,940,331		$	(2,382,041	)	$	(7,399,731	)	$	11,013,547

Capital expenditures	$	176,499	$	3,535,306		$	56,743,382		$	5,016,494		$	6,536		$	65,478,217

											*Total*
As of December 31, 2024	*GIG*		*LMH*		*BOB*		*BOAM*		*Unallocated*		*Consolidated*

Accounts receivable, net	$	7,224,005	$	4,132,055	$	893,476	$	184,051	$	-	$	12,433,587
Goodwill		11,325,138		130,903,950		39,614,422		536,626		-		182,380,136
Total assets		86,670,669		260,220,162		198,226,268		52,593,429		130,635,201		728,345,729

											*Total*
As of December 31, 2023	*GIG*		*LMH*		*BOB*		*BOAM*		*Unallocated*		*Consolidated*

Accounts receivable, net	$	7,124,471	$	4,060,259	$	689,817	$	251,154	$	15,543	$	12,141,244
Goodwill		11,325,138		130,903,950		39,614,422		536,626		-		182,380,136
Total assets		71,723,355		267,205,346		183,151,741		100,739,644		145,387,006		768,207,092

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Note 16 - Reserves for Losses and Loss Adjustment Expenses

12 Months Ended

Dec. 31, 2024

Insurance Disclosure [Text Block]

NOTE 16.

RESERVES FOR LOSSES AND LOSS ADJUSTMENT EXPENSES

The following table provides a reconciliation of the beginning and ending reserve balances at UCS for losses and loss adjustment expenses ("LAE") for the years ended December 31:

	*2024*			*2023*
Gross reserve for unpaid losses and loss adjustment expenses, beginning of year	$	5,733,444		$	2,105,579
Less: reinsurance recoverable on unpaid losses		3,283,071			415,000
Net reserve for unpaid losses and loss adjustment expenses, beginning of year		2,450,373			1,690,579

Incurred losses and loss adjustment expenses:
Current year		3,924,202			2,411,846
Prior year		(750,747	)		(367,411	)
Total net losses and loss adjustment expense incurred		3,173,455			2,044,435

Payments:
Current Year		1,193,187			532,062
Prior Year		361,314			752,579
Total Payments:		1,554,501			1,284,641

Net reserves for unpaid losses and loss adjustment expenses, end of year		4,069,327			2,450,373
Reinsurance recoverable on unpaid losses, net of allowance		1,803,865			3,283,071

Gross reserves for unpaid losses and loss adjustment expenses, end of year	$	5,873,192		$	5,733,444

During the years ended December 31, 2024 and 2023, there was a favorable loss development for the current year and a favorable prior year’s loss development which was the result of a re-estimation of amounts ultimately to be paid on prior year losses and loss adjustment expense. Original estimates are increased or decreased as additional information becomes known regarding individual claims.

Note 17 - Redeemable Noncontrolling Interest

12 Months Ended

Dec. 31, 2024

Noncontrolling Interest Disclosure [Text Block]

NOTE 17.

REDEEMABLE NONCONTROLLING INTEREST

On April 2, 2024, we entered into agreements with the minority members of each of FIF Utah, LLC and FIF St. George, LLC, entities controlled by us as majority member. Under these agreements, the minority members of each of the entities exchanged their membership interests in the LLCs for unregistered shares of Boston Omaha Class A common stock. Under the securities exchange agreements, Alpine Networks, Inc., a company owned by Steven McGhie, the then Chief Executive Officer of Boston Omaha Broadband, and the sole owner of the minority interest in FIF Utah, LLC, exchanged its approximate 17% interest in FIF Utah, LLC for 275,611 shares of Boston Omaha Class A common stock, which for purposes of the transaction was valued at approximately $4,400,000. The two owners of the minority interests in FIF St. George, LLC exchanged their combined 20% interest in FIF St. George, LLC for 563,750 shares of Boston Omaha Class A common stock, which for purposes of the transaction was valued at approximately $9,000,000. As a result, Boston Omaha Broadband, LLC, our wholly owned subsidiary, now owns 100% of the membership interests in each of FIF Utah, LLC and FIF St. George, LLC.

In each transaction, the value for the unregistered Boston Omaha Class A common stock was calculated based on the volume weighted average trading price of a share of Boston Omaha Class A common stock for the 30 trading days ended March 28, 2024 as reported on the New York Stock Exchange. The difference between the fair value of the Class A shares issued and the carrying balance of the noncontrolling interests at the date of the transaction is recorded within additional paid in capital within our Consolidated Balance Sheets.

Note 18 - Custodial Risk

12 Months Ended

Dec. 31, 2024

Custodial Risk Disclosure [Text Block]

NOTE 18.

CUSTODIAL RISK

As of December 31, 2024, we had approximately $32,000,000 in excess of federally insured limits on deposit with financial institutions.

Note 19 - Subsequent Events

12 Months Ended

Dec. 31, 2024

Subsequent Events [Text Block]

NOTE 19.

SUBSEQUENT EVENTS

Subsequent to December 31, 2024, we sold 190,692 shares of Sky Harbour for gross proceeds of approximately $2,159,732.

On January 10, 2025, Magnolia Capital Fund, LP ("MCF") exercised, in full, Class B warrants issued in 2015 and expiring in June 2025 to purchase shares of our Class B common stock. Under the terms of the warrants, MCF purchased 52,778 shares of Class B common stock at an exercise price of approximately $525,000 paid in cash. Following this transaction, there are no other warrants outstanding issued by BOC to purchase Class B common stock.

Also, during January 2025, Boston Omaha Broadband borrowed an additional $3,500,000 pursuant to the BOB Credit Agreement established with First National Bank of Omaha during the third quarter of fiscal 2024.

Subsequent to December 31, 2024, we transferred an additional 1,162,000 shares of Sky Harbour Class A common stock to our UCS subsidiary. UCS now holds 2,673,831 shares of Sky Harbour Class A common stock.

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Consolidation, Policy [Policy Text Block]

Consolidation Policy

The financial statements of Boston Omaha Corporation include the accounts of the Company and our consolidated subsidiaries, which are comprised of voting interest entities in which we have a controlling financial interest and variable interest entities for which we have determined that we are the primary beneficiary. All significant intercompany profits, losses, transactions, and balances have been eliminated in consolidation.

Variable Interest Entities (VIEs)

We determine whether an entity is a VIE and, if so, whether it should be consolidated by utilizing judgments and estimates that are inherently subjective. Our determination of whether an entity in which we hold a direct or indirect variable interest is a VIE is based on several factors, including whether the entity’s total equity investment at risk upon inception is sufficient to finance the entity’s activities without additional subordinated financial support. We make judgments regarding the sufficiency of the equity at risk based first on a qualitative analysis, and then a quantitative analysis, if necessary.

We analyze any investments in VIEs to determine if we are the primary beneficiary. In evaluating whether we are the primary beneficiary, we evaluate our direct and indirect economic interests in the entity. A reporting entity is determined to be the primary beneficiary if it holds a controlling financial interest in the VIE. Determining which reporting entity, if any, has a controlling financial interest in a VIE is primarily a qualitative approach focused on identifying which reporting entity has both: (i) the power to direct the activities of a VIE that most significantly impact such entity’s economic performance; and (ii) the obligation to absorb losses or the right to receive benefits from such entity that could potentially be significant to such entity. Performance of that analysis requires the exercise of judgment.

We consider a variety of factors in identifying the entity that holds the power to direct matters that most significantly impact the VIE’s economic performance including, but not limited to, the ability to direct operating decisions and activities. In addition, we consider the rights of other investors to participate in those decisions. We determine whether we are the primary beneficiary of a VIE at the time we become involved with a variable interest entity and reconsider that conclusion continually.

We consolidate any VIE of which we are the primary beneficiary. Such VIEs consist of 24th Street Fund I and 24th Street Fund II, collectively “the 24th Street Funds,” and Fund One Boston Omaha Build for Rent LP, which we refer to as "BFR".

Total assets of the consolidated VIEs included within our Consolidated Balance Sheets were approximately $48,700,000 and $96,500,000 as of December 31, 2024 and December 31, 2023, respectively. Total liabilities of the consolidated VIEs included within our Consolidated Balance Sheets were approximately $27,000 and $132,000 as of December 31, 2024 and December 31, 2023, respectively. As of December 31, 2024 and December 31, 2023, the aggregate fair value of the 24th Street Funds’ and BFR's investments in special purpose entities was approximately $46,900,000 and $64,900,000, respectively. During 2024, the 24th Street Funds’ and BFR's investments in special purpose entities recognized other investment income of approximately $8,000,000 and distributions to the funds of approximately $26,000,000. The assets of the consolidated VIEs may only be used to settle obligations of the same VIE.

Our consolidated subsidiaries include:

Link Media Holdings, LLC which we refer to as “LMH”

Link Media Alabama, LLC which we refer to as “LMA”

Link Media Florida, LLC which we refer to as “LMF”

Link Media Wisconsin, LLC which we refer to as “LMW”

Link Media Georgia, LLC which we refer to as “LMG”

Link Media Midwest, LLC which we refer to as “LMM”

Link Media Omaha, LLC which we refer to as “LMO”

Link Media Properties, LLC which we refer to as “LMP”

Link Media Southeast, LLC which we refer to as “LMSE”

Link Media Services, LLC which we refer to as “LMS”

Link Billboards Oklahoma, LLC which we refer to as “LBO”

General Indemnity Group, LLC which we refer to as “GIG”

United Casualty and Surety Insurance Company which we refer to as “UCS”

BOSS Bonds Insurance Agency, Inc., which we refer to as "BOSS Bonds", formerly known as South Coast Surety Insurance Services, LLC which we refer to as “SCS”

Boston Omaha Investments, LLC which we refer to as “BOIC”

Boston Omaha Asset Management, LLC which we refer to as “BOAM”

Fund One Boston Omaha Build for Rent LP which we refer to as “BFR”

BOAM BFR, LLC which we refer to as “BOAM BFR”

BOC Business Services, LLC which we refer to as “BBS”

BOC Yellowstone, LLC which we refer to as “BOC Yellowstone”

BOC Yellowstone II, LLC which we refer to as “BOC Yellowstone II”

24th Street Asset Management LLC which we refer to as “24th Street”

24th Street Fund I, LLC which we refer to as “24th Street Fund I”

24th Street Fund II, LLC which we refer to as “24th Street Fund II”

Boston Omaha Broadband, LLC which we refer to as “BOB”

FIF AireBeam, LLC which we refer to as “AireBeam”

Fiber Fast Homes, LLC which we refer to as “FFH”

FIF Utah, LLC which we refer to as “FIF Utah”

FIF St George, LLC which we refer to as “FIF St George” or "InfoWest"

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and Cash Equivalents

For purposes of the statement of cash flows, we consider all highly liquid investments, with the exception of U.S. Treasury securities, purchased with an original maturity of three months or less to be cash equivalents.

Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]

Cash Held by BOAM Funds and Other

Cash held by BOAM Funds and other represents cash and cash equivalents held by consolidated BOAM Funds and other consolidated entities. Such amounts are not available to fund the general liquidity needs of Boston Omaha.

Receivable [Policy Text Block]

Accounts Receivable

Billboard Rentals

Accounts receivable are recorded at the invoiced amount, net of advertising agency commissions, sales discounts, and allowances for credit losses. We evaluate the collectability of accounts receivable based on our knowledge of our customers and historical experience of credit losses. In circumstances where we are aware of a specific customer’s inability to meet its financial obligations, we record a specific allowance to reduce the amounts recorded to what we believe will be collected. For all other customers, we recognize reserves for credit losses based upon historical experience of credit losses as a percentage of revenue, adjusted for relative improvement or deterioration and changes in current economic conditions.

Insurance

Accounts receivable consists of premiums, anticipated salvage, and reinsurance receivables. All of the receivables have payment terms of less than twelve months.

Anticipated salvage is the amount we expect to receive from principals pursuant to indemnification agreements.

Broadband

Accounts receivable are recorded at the invoiced amount, net of allowances for credit losses. We evaluate the collectability of accounts receivable based on our knowledge of our customers and historical experience of credit losses. In circumstances where we are aware of a specific customer’s inability to meet its financial obligations, we record a specific allowance to reduce the amounts recorded to what we believe will be collected.

Credit Losses

We estimate credit losses on financial instruments based on amounts expected to be collected. The allowance for credit losses is estimated based on historical collections, accounts receivable aging, economic indicators, and expected future trends.

Deferred Policy Acquisition Costs

Policy acquisition costs consist primarily of commissions to agents and brokers and premium taxes, fees, and assessments. Such costs that are directly related to the successful acquisition of new or renewal insurance contracts are deferred and amortized over the related policy period, generally one to three years. The recoverability of these costs is analyzed by management quarterly, and if determined to be impaired, is charged to expense. We do not consider anticipated investment income in determining whether a premium deficiency exists. All other acquisition expenses are charged to operations as incurred.

Property, Plant and Equipment, Policy [Policy Text Block]

Property and Equipment

Property and equipment are carried at cost less depreciation. Depreciation is provided principally on the straight-line method over the estimated useful lives of the assets, which range from four years to twenty years as follows:

	*Years*

Structures		15
Digital displays and electrical		10
Static and tri-vision displays		10 to 15
Fiber, towers, and broadband equipment		5 to 20
Vehicles, equipment, and furniture		4 to 7

Maintenance and repair costs are charged against income as incurred. Significant improvements or betterments are capitalized and depreciated over the estimated life of the asset.

Periodic internal reviews are performed to evaluate the reasonableness of the depreciable lives for property and equipment. Actual usage, physical wear and tear, replacement history, and assumptions about technology evolution are reviewed and evaluated to determine the remaining useful lives of the assets. Remaining useful life assessments are made to anticipate the loss in service value that may precede physical retirement, as well as the level of maintenance required for the remaining useful life of the asset.

Property and equipment is reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset or asset group before interest expense. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset or asset group. Assets to be disposed of would be separately presented in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell and would no longer be depreciated. The assets and liabilities of a disposed group classified as held for sale would be presented separately in the appropriate asset and liability sections of the balance sheet.

Business Combinations Policy [Policy Text Block]

Acquisitions

For transactions that meet the definition of a business combination, we allocate the purchase price, including any contingent consideration, to the assets acquired and the liabilities assumed at their estimated fair values as of the date of the acquisition with any excess of the purchase price paid over the estimated fair value of net assets acquired recorded as goodwill. The determination of the final purchase price and the acquisition-date fair value of identifiable assets acquired and liabilities assumed may extend over more than one period and result in adjustments to the preliminary estimate recognized in the prior period financial statements. For transactions which meet the definition of asset purchases, we proportionally allocate the purchase price to the assets based on their relative fair values acquired and the liabilities assumed at their estimated fair values as of the date of the acquisition.

The fair value of the assets acquired and liabilities assumed is typically determined by using either estimates of replacement costs or discounted cash flow valuation methods. When determining the fair value of tangible assets acquired, we estimate the cost to replace the asset with a new asset, adjusted for an estimated reduction in fair value due to age of the asset, and the economic useful life. When determining the fair value of intangible assets acquired, we estimate the applicable discount rate and the timing and amount of future cash flows. Key assumptions utilized in estimating the future cash flows expected to be generated by each reporting unit primarily relate to forecasted revenues and premiums earned.

Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]

Goodwill

Goodwill represents future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Goodwill is subject to an annual impairment test. We designated October 1 as the date of our annual goodwill impairment test. We are required to identify our reporting units and determine the carrying value of each reporting unit. We analyze financial information of our operations to identify discrete segments that constitute a reporting unit. We assign assets acquired and liabilities assumed in business combinations to those reporting units. We have identified four reporting units: billboard operations, broadband operations, insurance brokerage and insurance carrier operations, and asset management operations. We are required to determine the fair value of each reporting unit and compare it to the carrying amount of the reporting unit. To the extent the carrying amount of a reporting unit exceeds the fair value of the reporting unit, we would be required to book an impairment loss. For our annual review of reporting units, we employ a third party valuation expert.

We conduct a qualitative assessment by examining relevant events and circumstances which could have a negative impact on our goodwill, including macroeconomic conditions, industry and market conditions, cost factors, overall financial performance, reporting unit dispositions and acquisitions, our market capitalization, and other relevant events specific to us. If, after assessing the totality of events or circumstances described above, we determine that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, we will perform a quantitative impairment test. If industry and economic conditions deteriorate, we may be required to assess goodwill impairment before the next annual test, which could result in impairment charges. The fair value of each of our goodwill reporting units is generally estimated using a combination of public company multiples and discounted cash flow methodologies. The discounted cash flow approach that we use for valuing goodwill as part of the impairment testing approach involves estimating future cash flows expected to be generated from the related assets, discounted to their present value using a risk-adjusted discount rate.

We performed our annual measurement for impairment of the goodwill of our reporting units and concluded the fair value of each reporting unit exceeded its carrying amount at its annual impairment test date on October 1, 2024 and 2023; therefore, we were not required to recognize an impairment loss.

During 2023, goodwill of approximately $2,900,000 was recorded in connection with acquisitions in our broadband and asset management segments. We did not complete any acquisitions during 2024.

Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]

Purchased Intangibles and Other Long-Lived Assets

We amortize intangible assets with finite lives over their estimated useful lives, which range between five and fifty years as follows:

	*Years*

Customer relationships		10 to 15
Permits, licenses, and lease acquisition costs		10 to 50
Noncompetition and nonsolicitation agreements		5
Technology, trade names, and trademarks		10 to 20
Site location		15
Capitalized contract costs		10

Purchased intangible assets, including long-lived assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. Factors considered in reviewing the asset values include consideration of the use of the asset, the expected life of the asset, and regulatory or contractual provisions related to such assets. Market participation assumptions are compared to our experience and the results of the comparison are evaluated. For finite-lived intangible assets, the period over which the assets are expected to contribute directly to future cash flows is evaluated against our historical experience. Impairment losses are recognized only if the carrying amount exceeds its fair value.

Asset Retirement Obligation [Policy Text Block]

Asset Retirement Obligations

We are required to record the present value of obligations associated with the retirement of tangible long-lived assets in the period in which the obligation is incurred. The liability is capitalized as part of the long-lived asset’s carrying amount. With the passage of time, accretion of the liability is recognized as an operating expense and the capitalized cost is depreciated over the expected useful life of the related asset. Our asset retirement obligations relate to the dismantlement, removal, site reclamation, and similar activities related to the decommissioning of our billboard structures and broadband towers.

Investment, Policy [Policy Text Block]

Investments, Short-term and Long-term

Investments include U.S Treasury securities, marketable equity securities, and equity investments as discussed below. U.S. Treasury securities held by our insurance entities are classified as held-to-maturity and are accounted for at amortized cost. We have both the intent and ability to hold the securities to maturity. U.S. Treasury securities held by non-insurance entities are classified as trading securities and are accounted for at fair value. Unrealized holding gains and losses during the period are included in earnings. Marketable equity securities are stated at fair value. Dividend and interest income are recognized when earned. Realized investment gains and losses are included in earnings.

Equity Investments

Our equity investments consist of investment in three private companies in which we do not have the ability to exercise significant influence over their operating and financial activities. These investments are carried at cost as there is no market for the capital stock, accordingly, no quoted market price is available. The investments are tested for impairment, at least annually, and more frequently upon the occurrences of certain events. We have adopted the provisions of ASU 2016-01 and use the measurement alternative, defined as cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer.

Investments in Unconsolidated Entities

We account for investments where we have significant influence but do not have a controlling interest, typically ownership of less than 50% and more than 20%, using the equity method of accounting. In accordance with ASC 323-30, we account for investments in limited partnerships and limited liability companies using the equity method of accounting when our investment is more than minimal (greater than 3% to 5%). Our share of income (loss) of such entities is recorded as a single amount as equity in income (loss) of unconsolidated affiliates. Dividends, if any, are recorded as a reduction of the investment.

We monitor our equity method investments for factors indicating other-than-temporary impairment. We consider several factors when evaluating our investments, including, but not limited to, (i) the period of time for which the fair value has been less than the carrying value, (ii) operating and financial performance of the investee, (iii) the investee’s future business plans and projections, (iv) discussions with their management, and (v) our ability and intent to hold the investment until it recovers in value.

Retention of Specialized Accounting

Each of the 24th Street Funds, and Fund One Boston Omaha Build for Rent LP qualify as investment companies and apply specialized industry accounting. We report fund investments on our Consolidated Balance Sheets at their estimated fair value with gains (losses) resulting from changes in fair value reflected within ‘Other investment income’ in the accompanying Consolidated Statements of Operations. Accordingly, the accompanying consolidated financial statements reflect different accounting policies for investments depending on whether or not they are held through a consolidated investment company.

Funds Held as Collateral Assets [Policy Text Block]

Funds Held as Collateral Assets

Funds held as collateral assets consist principally of cash collateral received from principals to guarantee performance on surety bonds issued by us, as well as all other contractual obligations of the principals to the surety.

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.

The more significant areas requiring the use of management estimates relate to allocation of asset acquisition price between tangible and intangible assets, useful lives for depreciation, amortization, and accretion, impairment of goodwill, valuation of insurance loss reserves, and the valuation of deferred tax assets and liabilities. Accordingly, actual results could differ from those estimates.

Fair Value Measurement, Policy [Policy Text Block]

Fair Value Measurements

We determine the fair value of our financial instruments using the fair value hierarchy, which requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

Subsequent Events, Policy [Policy Text Block]

Subsequent Events

We have performed an evaluation of subsequent events through the date on which the financial statements are issued.

Revenue [Policy Text Block]

Revenues

The majority of our advertising revenues are derived from contracts for advertising space on billboard structures and broadband internet services and are accounted for under Financial Accounting Standards Board, which we refer to as the “FASB,” Accounting Standards Codification, which we refer to as “ASC,” 606, Revenue from Contracts with Customers, and under ASC 840, Leases.

Premium revenues derived from our insurance operations are subject to ASC 944, Financial Services – Insurance.

Revenue Recognition

Billboard Rentals

We generate revenue from outdoor advertising through the leasing of advertising space on billboards. The terms of the contracts range from less than one month to three years and are generally billed monthly. Revenue for advertising space rental is recognized on a straight-line basis over the term of the contract. Advertising revenue is reported net of agency commissions. Agency commissions are calculated based on a stated percentage applied to gross billing revenue for operations. Payments received in advance of being earned are recorded as deferred revenue.

Another component of billboard rentals consists of production services which include creating and printing advertising copy. Contract revenues for production services are accounted for under ASC 606, Revenue from Contracts with Customers. Revenues are recognized at a point in time upon satisfaction of the contract, which is typically less than one week.

Practical expedients and exemptions: The Company is utilizing the following practical expedients and exemptions from ASC 606. We generally expense sales commissions when incurred because the amortization period is one year or less. These costs are recorded within costs of billboard revenues exclusive of depreciation and amortization. We do not disclose the value of unsatisfied performance obligations as the majority of our contracts with customers have an original expected length of less than one year. For contracts with customers which exceed one year, the future amount to be invoiced to the customer corresponds directly with the value to be received by the customer.

Deferred Revenues

We record deferred revenues when cash payments are received in advance of being earned or when we have an unconditional right to consideration before satisfying our performance obligation. The term between invoicing and when a payment is due is not significant. For certain services we require payment before the product or services are delivered to the customer. The balance of deferred revenue is considered short-term and will be recognized in revenue within twelve months.

Surety Bond Sales

Premiums and Unearned Premium Reserves

Premiums written are recognized as revenues based on a pro-rata daily calculation over the respective terms of the policies in-force. The cost of reinsurance ceded is initially written as prepaid reinsurance premiums and is amortized over the reinsurance contract period in proportion to the amount of insurance protection provided. Premiums ceded of approximately $4,300,000 and $3,300,000 for the years ended December 31, 2024 and 2023, respectively, are included within “Premiums earned” in our Consolidated Statements of Operations.

Commissions

We generate revenue from commissions on surety bond sales and account for commissions under ASC 606. Insurance commissions are earned from various insurance companies based upon our agency agreements with them. We arrange with various insurance companies for the provision of a surety bond for entities that require a surety bond. The insurance company sets the price of the bond. The contract with the insurance company is fulfilled when the bond is issued by the insurance agency on behalf of the insurance company. The insurance commissions are calculated based upon a stated percentage applied to the gross premiums on bonds. Commissions are recognized at a point in time, on a bond-by-bond basis as of the policy effective date and are generally nonrefundable.

Broadband Revenues

Broadband revenue is derived principally from internet services and is recognized on a straight-line basis over the term of the contract in the period the services are rendered. Revenue received or receivable in advance of the delivery of services is included in deferred revenue.

Right of Use Assets and Lease Liabilities [Policy Text Block]

Right of Use Assets and Lease Liabilities

Right of use, which we refer to as “ROU," assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The present value of lease payments is determined primarily using the incremental borrowing rate based on the information available at the lease commencement date. We have elected not to recognize ROU assets and lease liabilities for short-term leases for all classes of underlying assets. Short-term leases are leases with terms greater than 1 month, but less than 12 months.

Redeemable Noncontrolling Interest [Policy Text Block]

Redeemable Noncontrolling Interest

Redeemable noncontrolling interests are interests in subsidiaries that are redeemable outside of our control either for cash or other assets. These interests are classified as mezzanine equity and measured at the estimated redemption value at the end of each reporting period. The resulting increases or decreases in the estimated redemption amount are effected by corresponding charges against retained earnings, or in the absence of retained earnings, additional paid-in capital. Redeemable Noncontrolling Interests recorded within our Consolidated Balance Sheets relate to our Broadband subsidiaries (see Note 17).

Liability Reserve Estimate, Policy [Policy Text Block]

Losses and Loss Adjustment Expenses

Unpaid losses and loss adjustment expenses represent estimates for the ultimate cost of unpaid reported and unreported claims incurred and related expenses. We involve an independent, third-party actuary to assist us in the estimation of reserves for losses and loss adjustment expenses. Estimates are based on paid and incurred loss development factors and expected loss ratios, which are primarily driven by historical claims paid and incurred data and consideration of the level of premiums written during the current and prior year. Since the reserves are based on estimates, the ultimate liability may differ from the estimated reserve. The effects of changes in estimated reserves are included within cost of insurance revenues in our consolidated results of operations in the period in which the estimates are updated. The reserves are included within accounts payable and accrued expenses in our Consolidated Balance Sheets.

Segment Reporting, Policy [Policy Text Block]

Segment Information

Operating segments are defined as the components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision makers in deciding how to allocate resources and in assessing performance. Our chief operating decision makers direct the allocation of resources to operating segments based on the profitability, cash flows, and growth opportunities of each respective segment.

Our current operations for the years ended December 31, 2024 and 2023 include the outdoor advertising industry, the broadband services industry, the insurance industry, and the asset management industry.

Earnings Per Share, Policy [Policy Text Block]

Earnings Per Share

Basic income (loss) per common share is computed by dividing the net income (loss) available to Class A common stockholders and Class B common stockholders by the weighted average number of Class A common and Class B common shares outstanding during the year. Diluted earnings per share reflect the potential dilution of securities that could share in earnings of an entity. In a loss year, dilutive common equivalent shares are excluded from the loss per share calculation as the effect would be anti-dilutive. For the years ended December 31, 2024 and 2023, we had potentially dilutive securities in the form of stock warrants.

Income Tax, Policy [Policy Text Block]

Income Taxes

We account for income taxes in accordance with ASC Topic 740 which requires us to provide a net deferred tax asset or liability equal to the expected future tax benefit or expense of temporary reporting differences between book and tax accounting and any available operating loss or tax credit carry forwards. Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due plus deferred taxes related primarily to differences between the bases of certain assets and liabilities for financial and income tax reporting. Deferred tax assets and liabilities represent the future tax return consequences of those differences, which will either be taxable or deductible when the assets and liabilities are recovered or settled. Deferred taxes also are recognized for operating losses that are available to offset future federal income taxes. Valuation allowances are established when necessary to reduce deferred tax assets to amounts expected to be realized.

Our policy is to recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. During the years ended December 31, 2024 and 2023, we recognized no interest and penalties. As of December 31, 2024 and 2023, we had no accruals for interest and penalties.

New Accounting Pronouncements, Policy [Policy Text Block]

Recent Accounting Pronouncement

In November 2023, the FASB issued ASU 2023- 07, Improvements to Reportable Segment Disclosures, which requires companies to disclose significant segment expenses and other segment items that impact each reported measure of segment income or loss. This guidance is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. We adopted this guidance effective for the year ended December 31, 2024 (see Note 15).

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires companies to disclose disaggregated information related to the effective tax rate reconciliation and income taxes paid. This guidance is effective for public entities for fiscal years beginning after December 15, 2024. We do not anticipate the adoption of this guidance will have a material impact on our consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses, which requires disclosures about specific types of expenses included in expense captions presented on the face of the Consolidated Statement of Operations. This guidance is effective for public entities for fiscal years beginning after December 15, 2026. We are currently reviewing this guidance and its impact on our consolidated financial statements.

Note 2 - Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment, Useful Life [Table Text Block]

	*Years*

Structures		15
Digital displays and electrical		10
Static and tri-vision displays		10 to 15
Fiber, towers, and broadband equipment		5 to 20
Vehicles, equipment, and furniture		4 to 7

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	*Years*

Customer relationships		10 to 15
Permits, licenses, and lease acquisition costs		10 to 50
Noncompetition and nonsolicitation agreements		5
Technology, trade names, and trademarks		10 to 20
Site location		15
Capitalized contract costs		10

Note 3 - Cash, Cash Equivalents, and Restricted Cash (Tables)

12 Months Ended

Dec. 31, 2024

Restrictions on Cash and Cash Equivalents [Table Text Block]

	*December 31,*

	*2024*		*2023*

Cash and cash equivalents	$	28,289,712	$	21,946,884
Funds held as collateral		9,973,991		14,101,531
Cash held by BOAM funds and other		2,933,723		3,364,789

Total Cash, Cash Equivalents, and Restricted Cash as Presented in the Consolidated Statements of Cash Flows	$	41,197,426	$	39,413,204

Note 4 - Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Receivables with Imputed Interest [Table Text Block]

	*December 31,*
	*2024*			*2023*

Trade accounts	$	6,696,413		$	6,117,359
Premiums		3,778,050			2,911,119
Recoverables from reinsurers		2,166,939			3,283,071
Allowance for doubtful accounts		(207,815	)		(170,305	)

Total Accounts Receivable, net	$	12,433,587		$	12,141,244

Note 5 - Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Table Text Block]

	*December 31,*
	*2024*			*2023*

Structures and displays	$	67,161,287		$	65,736,121
Fiber, towers, and broadband equipment		126,808,205			97,974,753
Land		583,892			583,892
Vehicles and equipment		11,255,755			10,699,920
Office furniture and equipment		5,594,698			5,384,720
Accumulated depreciation		(49,810,164	)		(36,112,643	)

Total Property and Equipment, net	$	161,593,673		$	144,266,763

Note 6 - Business Acquisitions (Tables)

12 Months Ended

Dec. 31, 2024

Business Acquisition, Pro Forma Information [Table Text Block]

	*For the Year Ended*
	*December 31,*

	*2024*			*2023*

Revenue	$	108,274,901		$	97,693,127

Net Loss Attributable to Common Stockholders	$	(1,292,450	)	$	(6,371,174	)

Basic Net Loss per Share	$	(0.04	)	$	(0.20	)

Basic Weighted Average Class A and Class B Common Shares Outstanding		31,496,857			31,092,850

Diluted Net Loss per Share	$	(0.04	)	$	(0.20	)

Diluted Weighted Average Class A and Class B Common Shares Outstanding		31,496,857			31,092,850

Note 7 - Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Intangible Assets and Goodwill [Table Text Block]

	*December 31, 2024*							*December 31, 2023*
			*Accumulated*							*Accumulated*
	*Cost*		*Amortization*			*Balance*		*Cost*		*Amortization*			*Balance*

Customer relationships	$	72,028,493	$	(38,854,986	)	$	33,173,507	$	72,028,493	$	(33,426,898	)	$	38,601,595
Permits, licenses, and lease acquisition costs		11,926,773		(6,656,353	)		5,270,420		11,793,354		(5,562,205	)		6,231,149
Site location		849,347		(419,955	)		429,392		849,347		(363,332	)		486,015
Noncompetition agreements		626,000		(626,000	)		-		626,000		(624,600	)		1,400
Technology		1,128,000		(608,250	)		519,750		1,128,000		(509,250	)		618,750
Trade names and trademarks		11,152,200		(2,271,025	)		8,881,175		11,152,200		(1,680,459	)		9,471,741
Nonsolicitation agreement		353,000		(176,611	)		176,389		103,000		(40,500	)		62,500
Capitalized contract costs		2,800,576		(624,175	)		2,176,401		2,974,125		(387,990	)		2,586,135
Indefinite lived intangibles		7,705,591		-			7,705,591		7,473,016		-			7,473,016

Total	$	108,569,980	$	(50,237,355	)	$	58,332,625	$	108,127,535	$	(42,595,234	)	$	65,532,301

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

	*December 31,*
	*2025*		*2026*		*2027*		*2028*		*2029*		*Thereafter*		*Total*

Customer relationships	$	5,428,084	$	5,428,084	$	5,398,077	$	4,719,106	$	3,364,583	$	8,835,573	$	33,173,507
Permits, licenses and lease acquisition costs		1,087,249		1,060,760		1,027,373		764,887		255,686		1,074,465		5,270,420
Site location		56,623		56,623		56,623		56,623		56,623		146,277		429,392
Noncompetition agreements		-		-		-		-		-		-		-
Technology		99,000		99,000		99,000		99,000		99,000		24,750		519,750
Trade names and trademarks		590,567		590,567		525,667		525,667		525,667		6,123,040		8,881,175
Nonsolicitation agreement		163,889		12,500		-		-		-		-		176,389
Capitalized contract costs		280,058		280,058		280,058		280,058		280,058		776,111		2,176,401

Total	$	7,705,470	$	7,527,592	$	7,386,798	$	6,445,341	$	4,581,617	$	16,980,216	$	50,627,034

Customer relationships			73
Permits, licenses, and lease acquisition costs			58
Site location			91
Noncompetition agreements			12
Technology			63
Trade names and trademarks			180
Nonsolicitation agreement			18
Capitalized contract costs			93

Note 8 - Investments, Including Investments Accounted for Using the Equity Method (Tables)

12 Months Ended

Dec. 31, 2024

Investment [Table Text Block]

	*December 31,*
	*2024*		*2023*

U.S. Treasury notes held to maturity	$	22,411,583	$	19,195,228
Common stock warrants of Sky Harbour Group Corporation		22,541,754		5,558,241

Total	$	44,953,337	$	24,753,469

Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block]

			*Gross*
			*Unrealized*			*Fair*
	*Cost*		*Gain (Loss)*			*Value*

Marketable equity securities, December 31, 2024	$	2,455,024	$	(61,764	)	$	2,393,260

Marketable equity securities, December 31, 2023	$	2,279,723	$	(69,686	)	$	2,210,037

Schedule of Available-for-Sale Securities Reconciliation [Table Text Block]

			*Gross*
			*Unrealized*			*Fair*
	*Cost*		*Gain (Loss)*			*Value*

U.S. Treasury trading securities, December 31, 2024	$	10,949,883	$	27,086		$	10,976,969

U.S. Treasury trading securities, December 31, 2023	$	47,162,564	$	(49,905	)	$	47,112,659

	*December 31,*

	*2024*		*2023*

U.S. Treasury securities held to maturity	$	4,736,409	$	-
Investments in special purpose entities		46,936,743		64,697,093
Preferred stock		348,694		348,694
Voting preferred stock of MyBundle TV Inc.		3,000,000		3,000,000
Voting common stock of CB&T Holding Corporation		19,058,485		19,058,485

Total	$	74,080,331	$	87,104,272

Investments in and Advances to Affiliates [Table Text Block]

	*December 31,*

	*2024*			*2023*

Beginning of year	$	94,244,788		$	118,218,389
Additional investments in unconsolidated affiliates		21,000			19,500
Distributions received		-			(271,355	)
Transfer of interest		(2,748,292	)		-
Sale of interest		(1,798,348	)		-
Reclassification to consolidated subsidiaries		-			(15,832,981	)
Equity in loss of unconsolidated affiliates		(17,283,281	)		(7,888,765	)

End of year	$	72,435,867		$	94,244,788

Equity Method Investments [Table Text Block]

	*December 31,*

	*2024*			*2023*

Revenue	$	19,281,724		$	14,925,054
Gross profit		16,006,913			11,232,952
Loss from continuing operations		(20,534,728	)		(17,414,314	)
Net loss	$	(53,800,324	)	$	(22,349,383	)

Note 9 - Fair Value (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block]


			*Quoted Prices*		*Realized Gains*		*Total Changes*
	*Total Carrying*		*in Active*		*and (Losses)*		*in Fair Values*
	*Amount in*		*Markets for*		*Included in*		*Included in*
	*Consolidated*		*Identical*		*Current Period*		*Current Period*
	*Balance Sheet*		*Assets*		*Earnings (Loss)*		*Earnings (Loss)*

Marketable equity securities and U.S. Treasury trading securities at December 31, 2024	$	13,370,229	$	13,370,229	$	1,063,730	$	1,029,051

Marketable equity securities and U.S. Treasury trading securities at December 31, 2023	$	49,322,696	$	49,322,696	$	740,892	$	4,411,489

Note 10 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	*December 31,*
	*2024*			*2023*

Income tax (benefit) provision:
Current federal income tax expense	$	-		$	-
Current state income tax expense		2,992			166,223
Deferred federal income tax benefit		272,435			(2,138,204	)
Deferred state income tax benefit		(550,248	)		(1,006,757	)

Total income tax benefit	$	(274,821	)	$	(2,978,738	)

Deferred tax assets:
Net operating loss carryforwards	$	21,943,518		$	18,672,782
Tax credits		643,945			643,945
Lease liabilities		13,228,639			14,555,615
Premium adjustments and IBNR		440,447			580,373
Long-term investments		4,768,942			-
Disallowed interest expense carryforwards		78,388			1,204
Other		103,687			70,452
Total deferred tax assets		41,207,566			34,524,371
Valuation allowance		(862,510	)		(846,633	)

Net deferred tax assets	$	40,345,056		$	33,677,738

Deferred tax liabilities:
Property and equipment	$	(22,263,046	)	$	(19,504,745	)
Intangibles		(11,510,781	)		(8,269,752	)
Right of use assets		(13,224,225	)		(14,684,988	)
Long-term investments		-			(2,570,253	)
Unrealized gain on securities		(5,272,973	)		(759,812	)

Total deferred tax liabilities		(52,271,025	)		(45,789,550	)

Net deferred tax liabilities	$	(11,925,969	)	$	(12,111,812	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	*For the Year Ended December 31,*
	*2024*			*2023*

Federal income tax at statutory rate	$	644,659		$	(1,941,583	)
State tax income taxes, net of federal benefit		(138,994	)		(1,118,721	)
Non-controlling interest		(1,126,491	)		(213,753	)
Provision to return adjustments		(1,092,238	)		129,405
Limitation on deduction for officer compensation		539,138			-
Permanent differences		60,886			137,649
State rate change		719,612			-
Valuation allowance		15,877			14,510
Other		102,730			13,755
Total income tax benefit	$	(274,821	)	$	(2,978,738	)

Note 11 - Asset Retirement Obligations (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Change in Asset Retirement Obligation [Table Text Block]

Balance, January 1, 2023	$	3,569,580
Additions		8,904
Accretion expense		216,501
Liabilities settled		-
Balance, December 31, 2023	$	3,794,985
Additions		-
Accretion expense		218,472
Liabilities settled		-
Balance, December 31, 2024	$	4,013,457

Note 12 - Capital Stock (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement, Option, Activity [Table Text Block]

	*Shares Under Warrants*			*Weighted Average Exercise Price*		*Weighted Average Remaining Contractual Life (in years)*		*Aggregate Intrinsic Value of Vested Warrants*

Outstanding as of January 1, 2023		105,556		$	9.95		2.5	$	1,746,952
Issued		-
Exercised		-
Expired		-

Outstanding as of December 31, 2023		105,556		$	9.95		1.5	$	610,114

Issued		-
Exercised		-
Redeemed		(51,994	)
Expired		-

Outstanding as of December 31, 2024		53,562		$	9.95		0.5	$	226,567

Note 14 - Leases (Tables)

12 Months Ended

Dec. 31, 2024

Lease, Cost [Table Text Block]

	*Year Ended*		*Year Ended*
	*Ended*		*Ended*
	*December 31, 2024*		*December 31, 2023*		*Statement of Operations Classification*

Lease cost	$	8,644,098	$	8,615,322	Cost of billboard revenues and general and administrative
Variable and short-term lease cost		2,854,938		2,429,724	Cost of billboard revenues and general and administrative

Total Lease Cost	$	11,499,036	$	11,045,046

Supplemental Cash Flow Information Related to Operating Leases [Table Text Block]

	*Year Ended*		*Year Ended*
	*Ended*		*Ended*
	*December 31, 2024*		*December 31, 2023*

Cash payments for operating leases	$	8,402,005	$	8,312,237
New operating lease assets obtained in exchange for operating lease liabilities	$	3,911,148	$	1,843,316

Operating Lease Assets and Liabilities [Table Text Block]

	*December 31, 2024*		*December 31, 2023*		*Balance Sheet Classification*

Lease assets	$	59,742,166	$	61,399,460	Other Assets: Right of use assets

Current lease liabilities	$	5,333,611	$	5,085,221	Current Liabilities: Lease liabilities
Noncurrent lease liabilities		54,994,879		56,438,308	Long-term Liabilities: Lease liabilities

Total Lease Liabilities	$	60,328,490	$	61,523,529

Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]

	*December 31, 2024*

2025	$	8,302,957
2026		7,864,961
2027		7,550,960
2028		7,175,906
2029		6,336,586
Thereafter		53,849,888

Total lease payments		91,081,258
Less imputed interest		(30,752,768	)

Present Value of Lease Liabilities	$	60,328,490

Note 15 - Industry Segments (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Segment Reporting Information, by Segment [Table Text Block]

															*Total*
Year Ended December 31, 2024	*GIG*		*LMH*			*BOB*			*BOAM*			*Unallocated*			*Consolidated*

Operating Revenues	$	23,851,450	$	45,153,076		$	39,098,228		$	172,147		$	-		$	108,274,901
Cost of Revenues		9,400,691		15,496,805			9,444,030			-						34,341,526
Gross Margin		14,450,759		29,656,271			29,654,198			172,147			-			73,933,375
Other Operating Expenses
Employee costs		8,499,669		7,812,497			15,541,832			766,064			5,526,131			38,146,193
Professional fees		487,447		223,165			850,528			754,253			2,582,751			4,898,144
General and administrative		2,647,495		4,033,121			7,418,184			562,824			1,576,030			16,237,654
Depreciation		154,897		5,151,286			9,078,651			-			110,913			14,495,747
Amortization		160,247		3,902,738			3,509,856			-			111,111			7,683,952
Accretion		-		204,659			13,813			-			-			218,472
Loss on disposition of assets		-		63,455			657,236			-			-			720,691
Total expenses		11,949,755		21,390,921			37,070,100			2,083,141			9,906,936			82,400,853
Segment Income (Loss) from Operations		2,501,004		8,265,350			(7,415,902	)		(1,910,994	)		(9,906,936	)		(8,467,478	)

Interest expense		-		(1,547,124	)		(51,124	)		-			-			(1,598,248	)
Interest and dividend income		-		136,908			19,105			536,524			693,347			1,385,884
Equity in loss of unconsolidated affiliates		-		-			-			-			(17,283,281	)		(17,283,281	)
Other investment income		218,015		-			-			7,815,912			21,025,790			29,059,717
Noncontrolling interest in subsidiary income		-		-			-			(4,599,100	)		(64,765	)		(4,663,865	)
Income tax benefit		-		-			-			-			274,821			274,821
Net Income (Loss) Attributable to Common Stockholders	$	2,719,019	$	6,855,134		$	(7,447,921	)	$	1,842,342		$	(5,261,024	)	$	(1,292,450	)

Segment adjusted EBITDA	$	2,816,148	$	17,587,488		$	5,843,654		$	(1,910,994	)	$	(9,684,912	)	$	14,651,384

Capital expenditures	$	28,951	$	2,462,001		$	29,460,239		$	-		$	250,000		$	32,201,191

															*Total*
Year Ended December 31, 2023	*GIG*		*LMH*			*BOB*			*BOAM*			*Unallocated*			*Consolidated*

Operating Revenues	$	17,705,891	$	42,940,369		$	35,340,502		$	266,974		$	-		$	96,253,736
Cost of Revenues		6,808,167		15,136,817			9,955,518			-						31,900,502
Gross Margin		10,897,724		27,803,552			25,384,984			266,974			-			64,353,234
Other Operating Expenses																-
Employee costs		6,500,480		7,072,960			14,527,407			1,574,332			2,886,750			32,561,929
Professional fees		596,245		804,203			823,969			321,363			2,119,735			4,665,515
General and administrative		1,970,121		3,902,279			7,093,277			753,320			2,393,246			16,112,243
Depreciation		152,388		5,075,358			6,816,929			-			110,421			12,155,096
Amortization		160,246		3,933,290			3,316,403			-						7,409,939
Accretion		-		199,211			17,290			-			-			216,501
Loss (gain) on disposition of assets		-		206,832			(122,418	)		-			-			84,414
Total expenses		9,379,480		21,194,133			32,472,857			2,649,015			7,510,152			73,205,637
Segment Income (Loss) from Operations		1,518,244		6,609,419			(7,087,873	)		(2,382,041	)		(7,510,152	)		(8,852,403	)

Interest expense		-		(1,126,538	)		(20,696	)		-			-			(1,147,234	)
Interest and dividend income		-		170,287			38,360			1,058,527			1,341,974			2,609,148
Equity in income (loss) of unconsolidated affiliates		-		-			-			4,630,610			(12,519,375	)		(7,888,765	)
Other investment income		538,621		-			-			980,410			4,613,760			6,132,791
Noncontrolling interest in subsidiary loss (income)		-		-			75,008			(911,292	)		-			(836,284	)
Income tax benefit		-		-			-			-			2,978,738			2,978,738
Net Income (Loss) Attributable to Common Stockholders	$	2,056,865	$	5,653,168		$	(6,995,201	)	$	3,376,214		$	(11,095,055	)	$	(7,004,009	)

Segment adjusted EBITDA	$	1,830,878	$	16,024,110		$	2,940,331		$	(2,382,041	)	$	(7,399,731	)	$	11,013,547

Capital expenditures	$	176,499	$	3,535,306		$	56,743,382		$	5,016,494		$	6,536		$	65,478,217

											*Total*
As of December 31, 2024	*GIG*		*LMH*		*BOB*		*BOAM*		*Unallocated*		*Consolidated*

Accounts receivable, net	$	7,224,005	$	4,132,055	$	893,476	$	184,051	$	-	$	12,433,587
Goodwill		11,325,138		130,903,950		39,614,422		536,626		-		182,380,136
Total assets		86,670,669		260,220,162		198,226,268		52,593,429		130,635,201		728,345,729

											*Total*
As of December 31, 2023	*GIG*		*LMH*		*BOB*		*BOAM*		*Unallocated*		*Consolidated*

Accounts receivable, net	$	7,124,471	$	4,060,259	$	689,817	$	251,154	$	15,543	$	12,141,244
Goodwill		11,325,138		130,903,950		39,614,422		536,626		-		182,380,136
Total assets		71,723,355		267,205,346		183,151,741		100,739,644		145,387,006		768,207,092

Note 16 - Reserves for Losses and Loss Adjustment Expenses (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]

	*2024*			*2023*
Gross reserve for unpaid losses and loss adjustment expenses, beginning of year	$	5,733,444		$	2,105,579
Less: reinsurance recoverable on unpaid losses		3,283,071			415,000
Net reserve for unpaid losses and loss adjustment expenses, beginning of year		2,450,373			1,690,579

Incurred losses and loss adjustment expenses:
Current year		3,924,202			2,411,846
Prior year		(750,747	)		(367,411	)
Total net losses and loss adjustment expense incurred		3,173,455			2,044,435

Payments:
Current Year		1,193,187			532,062
Prior Year		361,314			752,579
Total Payments:		1,554,501			1,284,641

Net reserves for unpaid losses and loss adjustment expenses, end of year		4,069,327			2,450,373
Reinsurance recoverable on unpaid losses, net of allowance		1,803,865			3,283,071

Gross reserves for unpaid losses and loss adjustment expenses, end of year	$	5,873,192		$	5,733,444

Note 2 - Summary of Significant Accounting Policies (Details Textual)	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Assets	$ 728,345,729	$ 768,207,092
Liabilities	165,626,276	151,754,831
Other Investment Income (Loss)	$ 29,059,717	6,132,791
Number of Reporting Units	4
Goodwill	$ 182,380,136	182,380,136
Ceded Premiums Earned	4,300,000	3,300,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	0	0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	$ 0	0
Broadband and Asset Management Acquisitions [Member]
Goodwill		2,900,000
Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	4 years
Finite-Lived Intangible Asset, Useful Life (Year)	5 years
Lessor, Operating Lease, Term of Contract (Month)	1 month
Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	20 years
Finite-Lived Intangible Asset, Useful Life (Year)	50 years
Lessor, Operating Lease, Term of Contract (Month)	3 years
The 24th Street Funds, Special Purpose Entities [Member]
Investment Owned, Fair Value	$ 46,900,000	64,900,000
Other Investment Income (Loss)	8,000,000
Fund Distributions	26,000,000
Variable Interest Entity, Primary Beneficiary [Member]
Assets	48,700,000	96,500,000
Liabilities	$ 27,000	$ 132,000

Note 2 - Summary of Significant Accounting Policies - Property and Equipment (Details)	Dec. 31, 2024
Minimum [Member]
Property and equipment, useful life (Year)	4 years
Maximum [Member]
Property and equipment, useful life (Year)	20 years
Structures [Member]
Property and equipment, useful life (Year)	15 years
Digital Displays and Electrical [Member]
Property and equipment, useful life (Year)	10 years
Static and Tri-vision Displays [Member] \| Minimum [Member]
Property and equipment, useful life (Year)	10 years
Static and Tri-vision Displays [Member] \| Maximum [Member]
Property and equipment, useful life (Year)	15 years
Fiber, Towers, and Broadband Equipment [Member] \| Minimum [Member]
Property and equipment, useful life (Year)	5 years
Fiber, Towers, and Broadband Equipment [Member] \| Maximum [Member]
Property and equipment, useful life (Year)	20 years
Vehicles, Equipment and Furniture [Member] \| Minimum [Member]
Property and equipment, useful life (Year)	4 years
Vehicles, Equipment and Furniture [Member] \| Maximum [Member]
Property and equipment, useful life (Year)	7 years

Note 2 - Summary of Significant Accounting Policies - Intangible Assets (Details)	Dec. 31, 2024
Minimum [Member]
Finite-lived intangible assets, useful life (Year)	5 years
Maximum [Member]
Finite-lived intangible assets, useful life (Year)	50 years
Customer Relationships [Member] \| Minimum [Member]
Finite-lived intangible assets, useful life (Year)	10 years
Customer Relationships [Member] \| Maximum [Member]
Finite-lived intangible assets, useful life (Year)	15 years
Permits, Licenses and Lease Acquisition Costs [Member] \| Minimum [Member]
Finite-lived intangible assets, useful life (Year)	10 years
Permits, Licenses and Lease Acquisition Costs [Member] \| Maximum [Member]
Finite-lived intangible assets, useful life (Year)	50 years
Noncompetition and Nonsolicitation Agreements [Member]
Finite-lived intangible assets, useful life (Year)	5 years
Technology, Trade Names and Trademarks [Member] \| Minimum [Member]
Finite-lived intangible assets, useful life (Year)	10 years
Technology, Trade Names and Trademarks [Member] \| Maximum [Member]
Finite-lived intangible assets, useful life (Year)	20 years
Site Location [Member]
Finite-lived intangible assets, useful life (Year)	15 years
Capitalized Contract Costs [Member]
Finite-lived intangible assets, useful life (Year)	10 years

Note 3 - Cash, Cash Equivalents, and Restricted Cash - Schedule of Restricted Cash and Cash Equivalents (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash and cash equivalents	$ 28,289,712	$ 21,946,884
Funds held as collateral	9,973,991	14,101,531
Cash held by BOAM funds and other	2,933,723	3,364,789
Total Cash, Cash Equivalents, and Restricted Cash as Presented in the Consolidated Statements of Cash Flows	$ 41,197,426	$ 39,413,204	$ 54,666,512

Note 4 - Accounts Receivable - Schedule of Receivables (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Allowance for doubtful accounts	$ (207,815)	$ (170,305)
Accounts receivable, net	12,433,587	12,141,244
Trade Accounts Receivable [Member]
Accounts receivable, gross	6,696,413	6,117,359
Premium [Member]
Accounts receivable, gross	3,778,050	2,911,119
Recoverables From Reinsurers [Member]
Accounts receivable, gross	$ 2,166,939	$ 3,283,071

Note 5 - Property and Equipment (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Depreciation	$ 14,495,747	$ 12,155,096

Note 5 - Property and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Accumulated depreciation	$ (49,810,164)	$ (36,112,643)
Total Property and Equipment, net	161,593,673	144,266,763
Structures and Displays [Member]
Property, plant and equipment, gross	67,161,287	65,736,121
Fiber, Towers, and Broadband Equipment [Member]
Property, plant and equipment, gross	126,808,205	97,974,753
Land [Member]
Property, plant and equipment, gross	583,892	583,892
Vehicles and Equipment [Member]
Property, plant and equipment, gross	11,255,755	10,699,920
Office Furniture and Equipment [Member]
Property, plant and equipment, gross	$ 5,594,698	$ 5,384,720

Note 6 - Business Acquisitions (Details Textual) - USD ($)				9 Months Ended	12 Months Ended
	Oct. 24, 2023	Jun. 16, 2023	May 01, 2023	Sep. 30, 2024	Dec. 31, 2024	Dec. 31, 2023	May 31, 2023
Goodwill					$ 182,380,136	$ 182,380,136
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)					5 years
Acquired Property, Plant and Equipment, Weighted Average Useful Life (Year)					5 years
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life (Year)				5 years
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)					50 years
Acquired Property, Plant and Equipment, Weighted Average Useful Life (Year)					40 years
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life (Year)				50 years
Customer Relationships [Member] \| Minimum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)					10 years
Customer Relationships [Member] \| Maximum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)					15 years
The 24th Street Asset Management, LLC [Member] \| Boston Omaha Asset Management, LLC [Member]
Business Acquisition, Percentage of Voting Interests Acquired			100.00%
Business Combination, Consideration Transferred			$ 5,016,494
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage							48.00%
Payments to Acquire Businesses, Gross			$ 2,759,072
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares)			45,644
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value			$ 9,110,478
Goodwill, Acquired During Period			536,626
The 24th Street Asset Management, LLC [Member] \| Boston Omaha Asset Management, LLC [Member] \| Holdback Cash Consideration [Member]
Payments to Acquire Businesses, Gross			$ 1,254,102
Broadband [Member}
Payments to Acquire Businesses, Gross		$ 2,881,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		844,500
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		1,046,000
Goodwill		$ 990,500
Broadband [Member} \| Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life (Year)		15 years
Cable Systems [Member]
Business Combination, Consideration Transferred	$ 4,375,000
Payments to Acquire Businesses, Gross	3,937,500
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	1,664,240
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	1,797,000
Goodwill	913,760
Business Combination, Consideration Transferred, Other	$ 437,500
Cable Systems [Member] \| Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	15 years

Note 6 - Business Acquisitions - Pro Forma Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Revenue	$ 108,274,901	$ 97,693,127
Net Loss Attributable to Common Stockholders	$ (1,292,450)	$ (6,371,174)
Basic Net Loss per Share (in dollars per share)	$ (0.04)	$ (0.2)
Basic Weighted Average Class A and Class B Common Shares Outstanding (in shares)	31,496,857	31,092,850
Diluted Net Loss per Share (in dollars per share)	$ (0.04)	$ (0.2)
Diluted Weighted Average Class A and Class B Common Shares Outstanding (in shares)	31,496,857	31,092,850

Note 7 - Intangible Assets (Details Textual) - USD ($)	12 Months Ended
Note 7 - Intangible Assets (Details Textual) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Amortization	$ 7,683,952	$ 7,409,939

Note 7 - Intangible Assets - Schedule of Intangible Assets (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Accumulated amortization	$ (50,237,355)	$ (42,595,234)
Balance	50,627,034
Balance	7,705,591	7,473,016
Total, cost	108,569,980	108,127,535
Intangible assets, net	58,332,625	65,532,301
Customer Relationships [Member]
Cost	72,028,493	72,028,493
Accumulated amortization	(38,854,986)	(33,426,898)
Balance	33,173,507	38,601,595
Permits, Licenses and Lease Acquisition Costs [Member]
Cost	11,926,773	11,793,354
Accumulated amortization	(6,656,353)	(5,562,205)
Balance	5,270,420	6,231,149
Site Location [Member]
Cost	849,347	849,347
Accumulated amortization	(419,955)	(363,332)
Balance	429,392	486,015
Noncompete Agreements [Member]
Cost	626,000	626,000
Accumulated amortization	(626,000)	(624,600)
Balance	0	1,400
Technology-Based Intangible Assets [Member]
Cost	1,128,000	1,128,000
Accumulated amortization	(608,250)	(509,250)
Balance	519,750	618,750
Trademarks and Trade Names [Member]
Cost	11,152,200	11,152,200
Accumulated amortization	(2,271,025)	(1,680,459)
Balance	8,881,175	9,471,741
Nonsolicitation Agreement [Member]
Cost	353,000	103,000
Accumulated amortization	(176,611)	(40,500)
Balance	176,389	62,500
Capitalized Contract Costs [Member]
Cost	2,800,576	2,974,125
Accumulated amortization	(624,175)	(387,990)
Balance	$ 2,176,401	$ 2,586,135

Note 7 - Intangible Assets - Schedule of Future Amortization, Intangible Assets (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
2025	$ 7,705,470
2026	7,527,592
2027	7,386,798
2028	6,445,341
2029	4,581,617
Thereafter	16,980,216
Total	50,627,034
Customer Relationships [Member]
2025	5,428,084
2026	5,428,084
2027	5,398,077
2028	4,719,106
2029	3,364,583
Thereafter	8,835,573
Total	$ 33,173,507	$ 38,601,595
Customer Relationships [Member] \| Weighted Average [Member]
Finite-lived intangible assets, useful life (Year)	73 months
Permits, Licenses and Lease Acquisition Costs [Member]
2025	$ 1,087,249
2026	1,060,760
2027	1,027,373
2028	764,887
2029	255,686
Thereafter	1,074,465
Total	$ 5,270,420	6,231,149
Permits, Licenses and Lease Acquisition Costs [Member] \| Weighted Average [Member]
Finite-lived intangible assets, useful life (Year)	58 months
Site Location [Member]
2025	$ 56,623
2026	56,623
2027	56,623
2028	56,623
2029	56,623
Thereafter	146,277
Total	$ 429,392	486,015
Finite-lived intangible assets, useful life (Year)	15 years
Site Location [Member] \| Weighted Average [Member]
Finite-lived intangible assets, useful life (Year)	91 months
Noncompete Agreements [Member]
2025	$ 0
2026	0
2027	0
2028	0
2029	0
Thereafter	0
Total	$ 0	1,400
Noncompete Agreements [Member] \| Weighted Average [Member]
Finite-lived intangible assets, useful life (Year)	12 months
Technology-Based Intangible Assets [Member]
2025	$ 99,000
2026	99,000
2027	99,000
2028	99,000
2029	99,000
Thereafter	24,750
Total	$ 519,750	618,750
Technology-Based Intangible Assets [Member] \| Weighted Average [Member]
Finite-lived intangible assets, useful life (Year)	63 months
Trademarks and Trade Names [Member]
2025	$ 590,567
2026	590,567
2027	525,667
2028	525,667
2029	525,667
Thereafter	6,123,040
Total	$ 8,881,175	9,471,741
Trademarks and Trade Names [Member] \| Weighted Average [Member]
Finite-lived intangible assets, useful life (Year)	180 months
Nonsolicitation Agreement [Member]
2025	$ 163,889
2026	12,500
2027	0
2028	0
2029	0
Thereafter	0
Total	$ 176,389	62,500
Nonsolicitation Agreement [Member] \| Weighted Average [Member]
Finite-lived intangible assets, useful life (Year)	18 months
Capitalized Contract Costs [Member]
2025	$ 280,058
2026	280,058
2027	280,058
2028	280,058
2029	280,058
Thereafter	776,111
Total	$ 2,176,401	$ 2,586,135
Finite-lived intangible assets, useful life (Year)	10 years
Capitalized Contract Costs [Member] \| Weighted Average [Member]
Finite-lived intangible assets, useful life (Year)	93 months

Note 8 - Investments, Including Investments Accounted for Using the Equity Method (Details Textual) - USD ($)							1 Months Ended			2 Months Ended	3 Months Ended		4 Months Ended	12 Months Ended
	Dec. 20, 2024	Oct. 25, 2024	Nov. 02, 2023	May 01, 2023	Jan. 25, 2022	Sep. 14, 2021	Jul. 31, 2023	Oct. 31, 2020	May 31, 2018	Dec. 20, 2024	Dec. 31, 2024	Dec. 31, 2023	Nov. 30, 2020	Dec. 31, 2024	Dec. 31, 2023	Nov. 29, 2023	May 31, 2023	Dec. 31, 2022	Apr. 25, 2022
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)											$ 9.95	$ 9.95		$ 9.95	$ 9.95			$ 9.95
Payments to Acquire Equity Method Investments														$ 21,000	$ 3,019,500
Common Stock, Par or Stated Value Per Share (in dollars per share)																			$ 0.001
Stock Issued During Period, Value, New Issues															$ 37,526,663
Common Class A [Member]
Common Stock, Par or Stated Value Per Share (in dollars per share)											$ 0.001	$ 0.001		$ 0.001	$ 0.001
CB&T Holding Corporation [Member]
Equity Method Investment, Ownership Percentage									15.60%
Yellowstone Acquisition Company [Member]
Equity Method Investment, Ownership Percentage													20.00%
Sky Harbour Group Corporation [Member]
Payments to Acquire Equity Method Investments						$ 55,000,000
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic											$ 5,100,000
Sky Harbour Group Corporation Class A Common Stock [Member]
Equity Method Investment, Ownership Percentage											16.40%			16.40%
Payments to Acquire Equity Method Investments					$ 45,000,000
Equity Method Investment, Shares, Converted from Other Equity (in shares)					5,500,000
Equity Method Investment, Price Per Share (in dollars per share)					$ 10
Equity Method Investment, Shares (in shares)					4,500,000						12,401,589			12,401,589
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic												$ 2,200,000
Equity Method Investment, Quoted Market Value											$ 148,000,000			$ 148,000,000
Yellowstone Acquisition Company [Member] \| IPO [Member]
Units Issued During Period, Number (in shares)								13,598,898
Units Issued During Period, Price Per Unit (in dollars per share)								$ 10
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)								$ 11.5
Yellowstone Acquisition Company [Member] \| IPO [Member] \| Common Class A [Member]
Units Issued During Period, Number of Common Stock, Shares (in shares)								1
Yellowstone Acquisition Company Warrants [Member] \| IPO [Member]
Units Issued During Period, Number of Warrants (in shares)								0.5
BOC Yellowstone LLC [Member] \| Non-redeemable Private Placement Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)													$ 11.5
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)													7,719,779
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares)													1
BOC Yellowstone LLC [Member] \| Class B Common Stock of Yellowstone Acquisition Company [Member]
Payments to Acquire Investments, Total													$ 7,800,000
Investment Owned, Balance, Shares (in shares)													3,399,724
Sky Harbour Group Corporation [Member] \| Private Placement [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)			1,141,600
Stock Issued During Period, Shares, New Issues (in shares)	3,955,790	3,955,790	6,586,154
Common Stock, Par or Stated Value Per Share (in dollars per share)			$ 0.0001
Proceeds from Issuance or Sale of Equity			$ 42,810,000							$ 75,200,000
Stock Issued During Period, Value, New Issues	$ 37,600,000	$ 37,600,000
Shares Issued, Price Per Share (in dollars per share)	$ 9.5									$ 9.5
Sky Harbour Group Corporation [Member] \| Additional PIPE Offering [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)																400,000
Common Stock, Par or Stated Value Per Share (in dollars per share)																$ 0.0001
Proceeds from Issuance or Sale of Equity			$ 57,810,000
Equity Offering, Maximum Shares (in shares)																2,307,692
Equity Offering, Maximum Amount																$ 15,000,000
The 24th Street Asset Management, LLC [Member] \| Boston Omaha Asset Management, LLC [Member]
Business Acquisition, Percentage of Voting Interests Acquired				100.00%
Business Combination, Consideration Transferred				$ 5,016,494
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage																	48.00%
Payments to Acquire Businesses, Gross				$ 2,759,072
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares)				45,644
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain				$ 4,600,000
The 24th Street Asset Management, LLC [Member] \| Boston Omaha Asset Management, LLC [Member] \| Holdback Cash Consideration [Member]
Payments to Acquire Businesses, Gross				$ 1,254,102
CB&T Holding Corporation [Member]
Payments to Acquire Businesses, Gross									$ 19,058,485
My Bundle TV Inc. [Member]
Payments to Acquire Businesses, Gross							$ 3,000,000
Business Combination Agreement with SHG [Member]
Payments to Acquire Businesses, Gross						55,000,000
Business Acquisition, Backstop Agreed to Be Provided to Acquiree, Maximum Value						$ 45,000,000
Business Acquisition, Backstop Agreed to Be Provided to Acquiree, Price Per Share (in dollars per share)						$ 10

Note 8 - Investments, Including Investments Accounted for Using the Equity Method - Schedule of Investments (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Short-term Investments	$ 44,953,337	$ 24,753,469
U.S. Treasury Notes and Corporate Bonds [Member]
Short-term Investments	22,411,583	19,195,228
Common Stock Warrants of Sky Harbour Group Corporation [Member]
Short-term Investments	$ 22,541,754	$ 5,558,241

Note 8 - Investments, Including Investments Accounted for Using the Equity Method - Marketable Equity Securities and Trading Securities (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Marketable equity securities, Cost	$ 2,455,024	$ 2,279,723
Marketable equity securities, Gross Unrealized Gain (Loss)	(61,764)	(69,686)
Marketable equity securities	$ 2,393,260	$ 2,210,037

Note 8 - Investments, Including Investments Accounted for Using the Equity Method - Available for Sale Securities (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Long-term investments	$ 74,080,331	$ 87,104,272
US Treasury Notes Securities [Member]
U.S. Treasury notes, Cost	10,949,883	47,162,564
U.S. Treasury notes, Gross Unrealized Gain (Loss)	27,086	(49,905)
U.S. Treasury notes, Fair Value	10,976,969	47,112,659
U.S. Treasury Securities Held To Maturity [Member]
Long-term investments	4,736,409	0
Special Purpose Entities [Member]
Long-term investments	46,936,743	64,697,093
Preferred Stock [Member]
Long-term investments	348,694	348,694
My Bundle TV Inc. [Member]
Long-term investments	3,000,000	3,000,000
Voting Common Stock of Privately Held Company CB&T Holding Corporation [Member]
Long-term investments	$ 19,058,485	$ 19,058,485

Note 8 - Investments, Including Investments Accounted for Using the Equity Method (As Restated) - Reconciliation of the Company's Investments in Equity Affiliates (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Beginning of year	$ 94,244,788	$ 118,218,389
Additional investments in unconsolidated affiliates	21,000	19,500
Distributions received	0	(271,355)
Transfer of interest	(2,748,292)	0
Sale of interest	(1,798,348)	0
Reclassification to consolidated subsidiaries	0	15,832,981
Equity in loss of unconsolidated affiliates	(17,283,281)	(7,888,765)
End of year	$ 72,435,867	$ 94,244,788

Amount of income (loss) for proportionate share of equity method investee's income (loss).

+ References + Details

Note 8 - Investments, Including Investments Accounted for Using the Equity Method - Summarized Financial Data (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Revenue	$ 108,274,901	$ 96,253,736
Gross profit	73,933,375	64,353,234
Net loss	3,371,415	(6,167,725)
Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
Revenue	19,281,724	14,925,054
Gross profit	16,006,913	11,232,952
Loss from continuing operations	(20,534,728)	(17,414,314)
Net loss	$ (53,800,324)	$ (22,349,383)

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

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Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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Note 9 - Fair Value (Details Textual) - USD ($)	12 Months Ended
Note 9 - Fair Value (Details Textual) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Jan. 25, 2022
Long-Term Debt	$ 26,500,000
Boston Omaha [Member]
Equity Securities, FV-NI	84,000,000
The 24th Street Funds, Special Purpose Entities [Member]
Investment Owned, Fair Value	$ 46,900,000	$ 64,900,000
The 24th Street Funds, Special Purpose Entities [Member] \| Measurement Input, Cap Rate [Member] \| Minimum [Member]
Investment Company, Investment Owned, Measurement Input	6.25
The 24th Street Funds, Special Purpose Entities [Member] \| Measurement Input, Cap Rate [Member] \| Maximum [Member]
Investment Company, Investment Owned, Measurement Input	0.0675
Sky Harbour Group Corporation Class A Common Stock [Member]
Equity Method Investment, Ownership Percentage	16.40%
Equity Method Investment, Shares (in shares)	12,401,589		4,500,000
Equity Method Investment, Quoted Market Value	$ 148,000,000
Private Placement Warrants [Member]
Fair Value Adjustment of Warrants	17,000,000	$ 4,000,000
Fair Value, Inputs, Level 2 [Member]
Long-Term Debt, Fair Value	$ 24,500,000

Note 9 - Fair Value - Fair Values for Investments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Realized gains (losses)	$ 1,063,730	$ 740,892
Changes in fair values	1,029,051	4,411,489
Reported Value Measurement [Member]
Carrying amount	13,370,229	49,322,696
Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 1 [Member]
Carrying amount	$ 13,370,229	$ 49,322,696

Amount of realized gain (loss) on investment in debt and equity securities.

+ References + Details

Note 10 - Income Taxes (Details Textual) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2018
Domestic Tax Jurisdiction [Member]
Operating Loss Carryforwards	$ 91.1	$ 7.1
State and Local Jurisdiction [Member]
Operating Loss Carryforwards	$ 61.6

Note 10 - Income Taxes - Components of Income Tax (Provision) Benefit (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Current federal income tax expense	$ 0	$ 0
Current state income tax expense	2,992	166,223
Deferred federal income tax benefit	272,435	(2,138,204)
Deferred state income tax benefit	(550,248)	(1,006,757)
Total income tax benefit	(274,821)	(2,978,738)
Net operating loss carryforwards	21,943,518	18,672,782
Tax credits	643,945	643,945
Lease liabilities	13,228,639	14,555,615
Premium adjustments and IBNR	440,447	580,373
Long-term investments	4,768,942	0
Disallowed interest expense carryforwards	78,388	1,204
Other	103,687	70,452
Total deferred tax assets	41,207,566	34,524,371
Valuation allowance	(862,510)	(846,633)
Net deferred tax assets	40,345,056	33,677,738
Property and equipment	(22,263,046)	(19,504,745)
Intangibles	(11,510,781)	(8,269,752)
Right of use assets	(13,224,225)	(14,684,988)
Long-term investments	0	(2,570,253)
Unrealized gain on securities	(5,272,973)	(759,812)
Total deferred tax liabilities	(52,271,025)	(45,789,550)
Net deferred tax liabilities	$ (11,925,969)	$ (12,111,812)

Note 10 - Income Taxes - Reconciliation of Income Tax Provision (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Federal income tax at statutory rate	$ 644,659	$ (1,941,583)
State tax income taxes, net of federal benefit	(138,994)	(1,118,721)
Non-controlling interest	(1,126,491)	(213,753)
Provision to return adjustments	(1,092,238)	129,405
Limitation on deduction for officer compensation	539,138	0
Permanent differences	60,886	137,649
State rate change	719,612	0
Valuation allowance	15,877	14,510
Other	102,730	13,755
Total income tax benefit	$ (274,821)	$ (2,978,738)

Note 11 - Asset Retirement Obligations - Asset Retirement Obligations (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Balance	$ 3,794,985	$ 3,569,580
Additions	0	8,904
Accretion expense	218,472	216,501
Liabilities settled	0	0
Balance	$ 4,013,457	$ 3,794,985

Note 12 - Capital Stock (Details Textual)			1 Months Ended	12 Months Ended
Note 12 - Capital Stock (Details Textual)	Jul. 23, 2024 USD ($)	May 09, 2024 USD ($) $ / shares shares	May 31, 2024 shares	Dec. 31, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 shares	Dec. 08, 2022 USD ($)	May 31, 2022 shares	Apr. 25, 2022 $ / shares shares
Common Stock, Par or Stated Value Per Share (in dollars per share) \| $ / shares									$ 0.001
Offering of Debt Securities and Warrants, Maximum (in shares)									500,000,000
Proceeds from Issuance of Common Stock \| $				$ 0	$ 37,526,663
Treasury Stock, Value, Acquired, Cost Method \| $				$ 1,589,322
Class of Warrant or Right, Outstanding (in shares)				53,562	105,556	105,556
Payments for Repurchase of Equity \| $				$ 18,350,693	$ (0)
Separation Agreement [Member]
Common Stock, Par or Stated Value Per Share (in dollars per share) \| $ / shares		$ 0.0001
Securities Repurchase Agreement, Consideration Transferred \| $		$ 9,175,605
Payments for Repurchase of Equity \| $		$ 8,800,480
Stock Issued During Period, Shares, Repurchase of Equity (in shares)		36,705
Deferred Compensation Arrangement with Individual, Shares Issued (in shares)		200,000
Severance Costs \| $		$ 960,000
Deferred Compensation Arrangement with Individual, Recorded Liability \| $		75,000
Compensation Expense, Excluding Cost of Good and Service Sold \| $		$ 250,000
Warrants for Common Class B Stock [Member]
Class of Warrant or Right, Outstanding (in shares)				52,778
Warrants for Common Class B Stock [Member] \| Separation Agreement [Member]
Class of Warrant or Right, Repurchased During the Period (in shares)		51,994
Warrants for Common Class A Stock [Member]
Class of Warrant or Right, Outstanding (in shares)				784
Boulderado [Member] \| Separation Agreement [Member]
Securities Repurchase Agreement, Consideration Transferred \| $		$ 9,951,113
Payments for Repurchase of Equity \| $		$ 7,960,891
Common Class A [Member]
Common Stock, Par or Stated Value Per Share (in dollars per share) \| $ / shares				$ 0.001	$ 0.001
Maximum Shares of Common Stock Registered by Certain Selling Shareholders (in shares)									8,297,093
Shares of Common Stock Registered by Certain Selling Shareholders (in shares)				8,555,957
Common Class A [Member] \| Separation Agreement [Member]
Stock Repurchased During Period, Shares (in shares)		210,000
Common Class A [Member] \| At The Market Offering [Member]
Stock Issued During Period, Shares, New Issues (in shares)					1,532,065
Proceeds from Issuance of Common Stock \| $					$ 37,526,663
Commission, Percent of Gross Sales Price Per Share					3.00%
Common Class A [Member] \| At The Market Offering [Member] \| Maximum [Member]
Equity Offering Program, Aggregate Share Price \| $				$ 100,000,000			$ 100,000,000
Common Class A [Member] \| Share Repurchase Program [Member]
Treasury Stock, Shares, Acquired (in shares)				111,323
Share Repurchase Program, Authorized, Amount \| $	$ 20,000,000
Share Repurchase Program, Authorized, Percentage of Outstanding Shares	25.00%
Treasury Stock, Value, Acquired, Cost Method \| $				$ 1,589,322
Common Class A [Member] \| Boulderado and Magnolia [Member]
Maximum Shares of Common Stock Registered by Certain Selling Shareholders (in shares)								1,018,660
Treasury Stock, Shares, Acquired (in shares)			522,231
Common Class B [Member]
Common Stock, Par or Stated Value Per Share (in dollars per share) \| $ / shares				$ 0.001	$ 0.001
Common Stock, Voting Rights Per Share				10
Common Class B [Member] \| Separation Agreement [Member]
Stock Repurchased During Period, Shares (in shares)		527,780
Sky Harbour Group Corporation Class A Common Stock [Member] \| Boulderado [Member] \| Separation Agreement [Member]
Securities Repurchase Agreement, Equity Issued (in shares)		194,738

Note 12 - Capital Stock - Summary of Warrant Activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Outstanding (in shares)	105,556	105,556
Outstanding, weighted average exercise price (in dollars per share)	$ 9.95	$ 9.95
Outstanding, weighted average remaining contractual life (Year)	6 months	1 year 6 months	2 years 6 months
Outstanding, aggregate intrinsic value of vested warrants	$ 226,567	$ 610,114	$ 1,746,952
Issued (in shares)	0	0
Exercised (in shares)	0	0
Expired (in shares)	0	0
Redeemed (in shares)	(51,994)
Outstanding (in shares)	53,562	105,556	105,556
Outstanding, weighted average exercise price (in dollars per share)	$ 9.95	$ 9.95	$ 9.95

Note 13 - Long-term Debt (Details Textual)		6 Months Ended
Note 13 - Long-term Debt (Details Textual)	Sep. 17, 2024 USD ($)	Jun. 24, 2024 USD ($)	Dec. 31, 2027	Dec. 31, 2026	Dec. 31, 2024 USD ($)	Jun. 30, 2024	May 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Sep. 22, 2023 USD ($)	Sep. 21, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 06, 2021 USD ($)	Aug. 12, 2019 USD ($)
Long-Term Debt					$ 26,500,000
Long-Term Debt, Current Maturities					1,201,448			$ 814,667
First National Bank of Omaha [Member] \| Link Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 15,000,000					$ 15,000,000		$ 10,000,000	$ 5,000,000			$ 40,000,000
Credit Agreement, Maximum Dividend Amount											$ 8,125,000
Long-Term Line of Credit					$ 9,600,000			0
Minimum Consolidated Leverage Ratio Requirement						3.5
Consolidated Fixed Charge Ratio Requirement					1.15
Long-Term Debt, Maturity, Year One					$ 851,444
Long-Term Debt, Maturity, Year Two					886,624
Long-Term Debt, Maturity, Year Three					923,257
Long-Term Debt, Maturity, Year Four					23,861,813
First National Bank of Omaha [Member] \| Link Credit Facility [Member] \| Forecast [Member]
Minimum Consolidated Leverage Ratio Requirement			3	3.25
First National Bank of Omaha [Member] \| Link Credit Facility [Member] \| Revolving Credit Facility [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate		0.65%
First National Bank of Omaha [Member] \| Link Credit Facility [Member] \| Revolving Credit Facility [Member] \| Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate		1.15%
First National Bank of Omaha [Member] \| Link Credit Facility [Member] \| Term Loan 1 [Member]
Debt Instrument, Face Amount												$ 30,000,000	18,000,000
Debt Instrument, Interest Rate, Stated Percentage												4.00%
Long-Term Debt, Gross		$ 30,000,000
Long-Term Debt					26,500,000			27,300,000
Long-Term Debt, Current Maturities					900,000			$ 800,000
First National Bank of Omaha [Member] \| Link Credit Facility [Member] \| Term Loan 2 [Member]
Debt Instrument, Face Amount													$ 5,500,000
First National Bank of Omaha [Member] \| Boston Omaha Broadband Credit Facility [Member]
Minimum Consolidated Leverage Ratio Requirement	3.5
Consolidated Fixed Charge Ratio Requirement	1.15
Long-Term Debt, Maturity, Year One					350,000
Long-Term Debt, Maturity, Year Two					350,000
Long-Term Debt, Maturity, Year Three					350,000
Long-Term Debt, Maturity, Year Four					350,000
Long-Term Debt, Maturity, Year Five					2,041,666
First National Bank of Omaha [Member] \| Boston Omaha Broadband Credit Facility [Member] \| Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 20,000,000
Long-Term Line of Credit					$ 3,400,000
Number of Operating Subsidiaries	3
Debt Instrument, Term (Year)	5 years
Debt Instrument, Term, Principle Payments (Year)	10 years
Unused Portion of Debt, Fee, Percent	0.25%
First National Bank of Omaha [Member] \| Boston Omaha Broadband Credit Facility [Member] \| Credit Facility [Member] \| Secured Overnight Financing Rate (SOFR) [Member]
Debt Instrument, Basis Spread on Variable Rate	2.75%
First National Bank of Omaha [Member] \| Boston Omaha Broadband Credit Facility [Member] \| Credit Facility [Member] \| Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	1.75%
First National Bank of Omaha [Member] \| Boston Omaha Broadband Credit Facility [Member] \| Credit Facility [Member] \| Minimum [Member]
Debt Instrument, Incremental Drawdowns	$ 1,000,000

Note 14 - Leases (Details Textual)	Dec. 31, 2024
Operating Lease, Weighted Average Remaining Lease Term (Year)	16 years 14 days
Operating Lease, Weighted Average Discount Rate, Percent	5.10%

Note 14 - Leases - Operating Lease Cost (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Lease cost	$ 8,644,098	$ 8,615,322
Variable and short-term lease cost	2,854,938	2,429,724
Total Lease Cost	$ 11,499,036	$ 11,045,046

Note 14 - Leases - Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Cash payments for operating leases	$ 8,402,005	$ 8,312,237
New operating lease assets obtained in exchange for operating lease liabilities	$ 3,911,148	$ 1,843,316

Note 14 - Leases - Operating Lease Assets and Liabilities (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Lease assets	$ 59,742,166	$ 61,399,460
Current lease liabilities	5,333,611	5,085,221
Noncurrent lease liabilities	54,994,879	56,438,308
Total Lease Liabilities	$ 60,328,490	$ 61,523,529

Note 14 - Leases - Maturity of Operating Lease Liabilities (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
2025	$ 8,302,957
2026	7,864,961
2027	7,550,960
2028	7,175,906
2029	6,336,586
Thereafter	53,849,888
Total lease payments	91,081,258
Less imputed interest	(30,752,768)
Present Value of Lease Liabilities	$ 60,328,490	$ 61,523,529

Note 15 - Industry Segments - Schedule of Segment Reporting Information, by Segment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Operating Revenues	$ 108,274,901	$ 96,253,736
Cost of Revenues	34,341,526	31,900,502
Gross Margin	73,933,375	64,353,234
Employee costs	38,146,193	32,561,929
Professional fees	4,898,144	4,665,515
General and administrative	16,237,654	16,112,243
Depreciation	14,495,747	12,155,096
Amortization	7,683,952	7,409,939
Accretion	218,472	216,501
Loss on disposition of assets	720,691	84,414
Total expenses	82,400,853	73,205,637
Segment Income (Loss) from Operations	(8,467,478)	(8,852,403)
Interest expense	(1,598,248)	(1,147,234)
Interest and dividend income	1,385,884	2,609,148
Equity in loss of unconsolidated affiliates	(17,283,281)	(7,888,765)
Other investment income	29,059,717	6,132,791
Noncontrolling interest in subsidiary income	(4,663,865)	(836,284)
Income tax benefit	274,821	2,978,738
Net Income (Loss) Attributable to Common Stockholders	(1,292,450)	(7,004,009)
Segment adjusted EBITDA	14,651,384	11,013,547
Capital expenditures	32,201,191	65,478,217
Accounts receivable, net	12,433,587	12,141,244
Goodwill	182,380,136	182,380,136
Total assets	728,345,729	768,207,092
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment [Member]
Operating Revenues	0	0
Cost of Revenues
Gross Margin	0	0
Employee costs	5,526,131	2,886,750
Professional fees	2,582,751	2,119,735
General and administrative	1,576,030	2,393,246
Depreciation	110,913	110,421
Amortization	111,111
Accretion	0	0
Loss on disposition of assets	0	0
Total expenses	9,906,936	7,510,152
Segment Income (Loss) from Operations	(9,906,936)	(7,510,152)
Interest expense	0	0
Interest and dividend income	693,347	1,341,974
Equity in loss of unconsolidated affiliates	(17,283,281)	(12,519,375)
Other investment income	21,025,790	4,613,760
Noncontrolling interest in subsidiary income	(64,765)	0
Income tax benefit	274,821	2,978,738
Net Income (Loss) Attributable to Common Stockholders	(5,261,024)	(11,095,055)
Segment adjusted EBITDA	(9,684,912)	(7,399,731)
Capital expenditures	250,000	6,536
Accounts receivable, net	0	15,543
Goodwill	0	0
Total assets	130,635,201	145,387,006
GIG [Member] \| Operating Segments [Member]
Operating Revenues	23,851,450	17,705,891
Cost of Revenues	9,400,691	6,808,167
Gross Margin	14,450,759	10,897,724
Employee costs	8,499,669	6,500,480
Professional fees	487,447	596,245
General and administrative	2,647,495	1,970,121
Depreciation	154,897	152,388
Amortization	160,247	160,246
Accretion	0	0
Loss on disposition of assets	0	0
Total expenses	11,949,755	9,379,480
Segment Income (Loss) from Operations	2,501,004	1,518,244
Interest expense	0	0
Interest and dividend income	0	0
Equity in loss of unconsolidated affiliates	0	0
Other investment income	218,015	538,621
Noncontrolling interest in subsidiary income	0	0
Income tax benefit	0	0
Net Income (Loss) Attributable to Common Stockholders	2,719,019	2,056,865
Segment adjusted EBITDA	2,816,148	1,830,878
Capital expenditures	28,951	176,499
Accounts receivable, net	7,224,005	7,124,471
Goodwill	11,325,138	11,325,138
Total assets	86,670,669	71,723,355
LMH [Member] \| Operating Segments [Member]
Operating Revenues	45,153,076	42,940,369
Cost of Revenues	15,496,805	15,136,817
Gross Margin	29,656,271	27,803,552
Employee costs	7,812,497	7,072,960
Professional fees	223,165	804,203
General and administrative	4,033,121	3,902,279
Depreciation	5,151,286	5,075,358
Amortization	3,902,738	3,933,290
Accretion	204,659	199,211
Loss on disposition of assets	63,455	206,832
Total expenses	21,390,921	21,194,133
Segment Income (Loss) from Operations	8,265,350	6,609,419
Interest expense	(1,547,124)	(1,126,538)
Interest and dividend income	136,908	170,287
Equity in loss of unconsolidated affiliates	0	0
Other investment income	0	0
Noncontrolling interest in subsidiary income	0	0
Income tax benefit	0	0
Net Income (Loss) Attributable to Common Stockholders	6,855,134	5,653,168
Segment adjusted EBITDA	17,587,488	16,024,110
Capital expenditures	2,462,001	3,535,306
Accounts receivable, net	4,132,055	4,060,259
Goodwill	130,903,950	130,903,950
Total assets	260,220,162	267,205,346
BOB [Member] \| Operating Segments [Member]
Operating Revenues	39,098,228	35,340,502
Cost of Revenues	9,444,030	9,955,518
Gross Margin	29,654,198	25,384,984
Employee costs	15,541,832	14,527,407
Professional fees	850,528	823,969
General and administrative	7,418,184	7,093,277
Depreciation	9,078,651	6,816,929
Amortization	3,509,856	3,316,403
Accretion	13,813	17,290
Loss on disposition of assets	657,236	(122,418)
Total expenses	37,070,100	32,472,857
Segment Income (Loss) from Operations	(7,415,902)	(7,087,873)
Interest expense	(51,124)	(20,696)
Interest and dividend income	19,105	38,360
Equity in loss of unconsolidated affiliates	0	0
Other investment income	0	0
Noncontrolling interest in subsidiary income	0	75,008
Income tax benefit	0	0
Net Income (Loss) Attributable to Common Stockholders	(7,447,921)	(6,995,201)
Segment adjusted EBITDA	5,843,654	2,940,331
Capital expenditures	29,460,239	56,743,382
Accounts receivable, net	893,476	689,817
Goodwill	39,614,422	39,614,422
Total assets	198,226,268	183,151,741
BOAM [Member] \| Operating Segments [Member]
Operating Revenues	172,147	266,974
Cost of Revenues	0	0
Gross Margin	172,147	266,974
Employee costs	766,064	1,574,332
Professional fees	754,253	321,363
General and administrative	562,824	753,320
Depreciation	0	0
Amortization	0	0
Accretion	0	0
Loss on disposition of assets	0	0
Total expenses	2,083,141	2,649,015
Segment Income (Loss) from Operations	(1,910,994)	(2,382,041)
Interest expense	0	0
Interest and dividend income	536,524	1,058,527
Equity in loss of unconsolidated affiliates	0	4,630,610
Other investment income	7,815,912	980,410
Noncontrolling interest in subsidiary income	(4,599,100)	(911,292)
Income tax benefit	0	0
Net Income (Loss) Attributable to Common Stockholders	1,842,342	3,376,214
Segment adjusted EBITDA	(1,910,994)	(2,382,041)
Capital expenditures	0	5,016,494
Accounts receivable, net	184,051	251,154
Goodwill	536,626	536,626
Total assets	$ 52,593,429	$ 100,739,644

Note 16 - Reserves for Losses and Loss Adjustment Expenses - Reserves Balance for Losses and Loss Adjustment Expenses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Gross reserve for unpaid losses and loss adjustment expenses, beginning of year	$ 5,733,444	$ 2,105,579
Less: reinsurance recoverable on unpaid losses	3,283,071	415,000
Net reserve for unpaid losses and loss adjustment expenses, beginning of year	2,450,373	1,690,579
Provision for losses and LAE claims arising in current year	3,924,202	2,411,846
Provision for losses and LAE claims arising in prior year	(750,747)	(367,411)
Total net losses and loss adjustment expense incurred	3,173,455	2,044,435
Losses and LAE payments for claims arising in current year	1,193,187	532,062
Losses and LAE payments for claims arising in prior years	361,314	752,579
Losses and LAE payments for claims arising in total payments	1,554,501	1,284,641
Net reserves for unpaid losses and loss adjustment expenses, end of year	4,069,327	2,450,373
Reinsurance recoverable on unpaid losses, net of allowance	1,803,865	3,283,071
Gross reserves for unpaid losses and loss adjustment expenses, end of year	$ 5,873,192	$ 5,733,444