Boston Omaha Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Boston Omaha Corp. has filed its 2023 10-K report, detailing financial performance and business operations.</b>

AI Summary

BOSTON OMAHA Corp (BOC) filed a Annual Report (10-K) with the SEC on March 27, 2024. Boston Omaha Corp. reported its 2023 fiscal year-end results on March 27, 2024. The company's primary business segments include billboard rentals and broadband services. Financial data for the fiscal year ending December 31, 2023, is detailed in the filing. The filing includes information on common stock, additional paid-in capital, and retained earnings. Key dates related to the filing and reporting periods are provided.

Why It Matters

For investors and stakeholders tracking BOSTON OMAHA Corp, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Boston Omaha Corp.'s financial health and operational activities for the fiscal year 2023, crucial for investors assessing the company's performance and future prospects. The detailed segment information on billboard rentals and broadband services allows stakeholders to understand the revenue drivers and strategic focus areas of the company.

Risk Assessment

Risk Level: low — BOSTON OMAHA Corp shows low risk based on this filing. The filing is a standard annual report (10-K) with no immediate red flags, indicating routine disclosure.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-K to understand the company's operational and financial trajectory.

Financial Highlights

revenue

38,838,884

total Assets

38,838,884

total Debt

1,055,560

net Income

30,255,739

cash Position

1,161,116

Revenue Breakdown

Key Numbers

• 105 — Public Document Count (Total number of documents in the filing)
• 20231231 — Fiscal Year End (End date of the fiscal year reported)
• 20240327 — Filing Date (Date the 10-K was filed)
• 6510 — SIC Code (Standard Industrial Classification code for Real Estate Operators)

Key Players & Entities

• BOSTON OMAHA Corp (company) — Filer name
• 1601 DODGE STREET (location) — Business and mailing address
• OMAHA (location) — City for business and mailing address
• NE (location) — State for business and mailing address
• 68102 (location) — ZIP code for business and mailing address
• REO PLUS, INC. (company) — Former company name
• 20100618 (date) — Date of name change
• 20231231 (date) — Conformed period of report

FAQ

Risk Factors

• Regulatory Compliance [medium — regulatory]: The company must comply with various federal, state, and local regulations.
• Market Conditions [medium — market]: Changes in economic conditions or market demand could impact revenue.
• Operational Risks [medium — operational]: Risks related to the operation and maintenance of billboard and broadband infrastructure.
• Financial Risks [medium — financial]: Risks associated with financing, debt, and investment activities.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.

Key Financial Figures

• $0.001 — hich Registered Class A common stock, $0.001 par value per share BOC The New York
• $5,016,494 — and BOC Class A common stock valued at $5,016,494 in the aggregate. Prior to the transact
• $2,759,072 — Street. The consideration consisted of $2,759,072 in cash at closing, an additional $1,25
• $1,254,102 — 9,072 in cash at closing, an additional $1,254,102 in cash subject to holdback, and 45,644
• $6 million — ne of our subsidiaries, an aggregate of $6 million in the 24th Street Funds. These funds a
• $10 million — estate. In December 2017, we invested $10 million in common units of Dream Finders Holdin
• $81 million — ock for gross proceeds of approximately $81 million. In May 2018, through one of our subsi
• $19 million — subsidiaries, we invested approximately $19 million through the purchase of common stock of
• $10.00 — offering 13,598,898 units at a price of $10.00 per unit, each unit consisting of one s
• $11.50 — A common stock at an exercise price of $11.50 per share. Between August and November
• $7.8 million — through BOC Yellowstone, approximately $7.8 million through the purchase of 3,399,724 share
• $55 million — gh one of our subsidiaries, we invested $55 million directly into SHG and received Series B
• $45 million — ed to provide Sky Harbour an additional $45 million through the purchase of 4,500,000 share
• $15 million — term rentals. We invested approximately $15 million of capital to finance the initial acqui
• $3 million — In July 2023, we invested approximately $3 million in voting preferred stock of MyBundle.T

Filing Documents

• bomn20231231_10k.htm (10-K) — 2612KB
• ex_644168.htm (EX-4.7) — 20KB
• ex_642326.htm (EX-10.26) — 88KB
• ex_598393.htm (EX-21.1) — 17KB
• ex_598394.htm (EX-23.1) — 3KB
• ex_598395.htm (EX-23.2) — 3KB
• ex_598396.htm (EX-31.1) — 16KB
• ex_598397.htm (EX-31.2) — 12KB
• ex_598398.htm (EX-31.3) — 12KB
• ex_598399.htm (EX-32.1) — 4KB
• ex_598400.htm (EX-32.2) — 4KB
• ex_598401.htm (EX-32.3) — 4KB
• ex_634317.htm (EX-97.1) — 38KB
• kpmglogo.jpg (GRAPHIC) — 3KB
• 0001437749-24-009605.txt (&nbsp;) — 11425KB
• boc-20231231.xsd (EX-101.SCH) — 89KB
• boc-20231231_cal.xml (EX-101.CAL) — 79KB
• boc-20231231_def.xml (EX-101.DEF) — 587KB
• boc-20231231_lab.xml (EX-101.LAB) — 522KB
• boc-20231231_pre.xml (EX-101.PRE) — 638KB
• bomn20231231_10k_htm.xml (XML) — 1865KB

Business

Item 1. Business. 1

Risk Factors

Item 1A. Risk Factors. 13

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments. 39

Cybersecurity Risk Management, Strategy, Governance and Incident Disclosure

Item 1C. Cybersecurity Risk Management, Strategy, Governance and Incident Disclosure 39

Properties

Item 2. Properties. 40

Legal Proceedings

Item 3. Legal Proceedings. 40

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. 40 Part II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. 40

Selected Financial Data

Item 6. Selected Financial Data. 41

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations. 42

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk. 61

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data. 61

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure. 61

Controls and Procedures

Item 9A. Controls and Procedures. 62

Other Information

Item 9B. Other Information. 63

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 63 Part III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance. 63

Executive Compensation

Item 11. Executive Compensation. 63

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 63

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence. 63

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services. 63 Part IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules. 64

Form 10-K Summary

Item 16. Form 10-K Summary. 64 Exhibit Index 65

Signatures

Signatures 68 Table of Contents CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS This Report contains certain statements that are, or may be deemed to be, "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or by Public Law 104-67. All statements included in this Report, other than statements that relate solely to historical fact, are "forward-looking statements." Such statements include, but are not limited to, any statement that may predict, forecast, indicate or imply future results, performance, achievements or events, including the impact of the COVID-19 pandemic, or any statement that may relate to strategies, plans or objectives for, or potential results of, future operations, financial results, financial condition, business prospects, growth strategy or liquidity, and are based upon management's current plans and beliefs or current estimates of future results or trends. Forward-looking statements can generally be identified by phrases such as "believes," "expects," "potential," "continues," "may," "should," "seeks," "predicts," "anticipates," "intends," "projects," "estimates," "plans," "could," "designed," "should be" and other similar expressions that denote expectations of future or conditional events rather than statements of fact. Forward-looking statements include certain statements made under the caption, "Management's Discussion and Analysis of Financial Condition and Results of Operations," under Item 7 of this Report, but also forward-looking statements that appear in other parts of this Report. Forward-looking statements reflect our current views with respect to future events and are based on certain assumptions and are subject to risks and uncertainties that could cause our actual results to differ materially from trends, plans, or expectations set forth in the forward-looking statements. The

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View this 10-K filing on SEC EDGAR