Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues        
Total revenues $ 21,261,308 $ 11,181,891 $ 32,631,645 $ 16,875,625
Cost of revenues        
Total cost of revenues 12,925,488 5,007,368 19,515,026 7,703,701
Gross profit 8,335,820 6,174,523 13,116,619 9,171,924
Operating expenses        
Compensation, taxes and benefits 3,494,692 2,123,783 6,049,728 3,896,864
General and administrative 1,776,981 1,530,729 3,417,873 2,781,244
Total operating expenses 5,271,673 3,654,512 9,467,601 6,678,108
Income from operations 3,064,147 2,520,011 3,649,018 2,493,816
Other income (expense)        
Other income   527 47,982 19,186
Forgiveness of Paycheck Protection Program loan 287,143   287,143 10,000
Gain from revaluation and settlement of seller notes and earnout liability   21,232   21,232
Loss on redemption of non-participating preferred units     (590,689)  
Interest expense (650,251) (828,410) (1,364,038) (1,640,167)
Total other expense (363,108) (806,651) (1,619,602) (1,589,749)
Income before taxes 2,701,039 1,713,360 2,029,416 904,067
Tax expense 86,676 54,000 86,676 54,000
Net income $ 2,614,363 $ 1,659,360 $ 1,942,740 $ 850,067
Net income per common share / unit:        
Basic $ 0.18 $ 48.54 $ 0.18 $ 24.87
Diluted $ 0.18 $ 48.54 $ 0.18 $ 24.87
Weighted-average number of shares of common stock / units outstanding:        
Basic 14,257,827 34,182 10,701,715 34,182
Diluted 14,257,827 34,182 10,701,715 34,182
Buy-side advertising        
Revenues        
Total revenues $ 9,321,267 $ 9,113,304 $ 15,152,308 $ 13,941,352
Cost of revenues        
Total cost of revenues 3,154,471 3,351,655 5,223,817 5,306,295
Sell-side advertising        
Revenues        
Total revenues 11,940,041 2,068,587 17,479,337 2,934,273
Cost of revenues        
Total cost of revenues $ 9,771,017 $ 1,655,713 $ 14,291,209 $ 2,397,406