Nuvera Communications (NUVR) 10-Q 14 Aug 18 2018 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Aug. 14, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	NUVERA COMMUNICATIONS, INC.
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		5,175,258
Amendment Flag	false
Entity Central Index Key	71,557
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
OPERATING REVENUES:
Operating Revenues	$ 11,708,441	$ 11,715,992	$ 23,321,627	$ 23,345,121
OPERATING EXPENSES:
Cost of Other Nonregulated Services	572,429	515,832	1,100,305	1,007,720
Depreciation and Amortization	2,280,354	2,433,541	4,536,202	4,867,302
Selling, General and Administrative	2,196,830	1,781,189	4,161,846	3,685,817
Total Operating Expenses	9,998,851	9,312,434	19,464,479	18,797,265
OPERATING INCOME	1,709,590	2,403,558	3,857,148	4,547,856
OTHER (EXPENSE) INCOME
Interest Expense	(286,004)	(313,530)	(572,939)	(621,766)
Interest/Dividend Income	87,656	32,422	141,517	73,118
Interest During Construction	36,913	15,321	68,758	31,422
CoBank Patronage Dividends			290,895	337,137
Other Investment Income	90,680	148,793	145,221	162,116
Total Other Income (Expense)	(70,755)	(116,994)	73,452	(17,973)
INCOME BEFORE INCOME TAXES	1,638,835	2,286,564	3,930,600	4,529,883
INCOME TAXES	458,878	960,359	1,100,570	1,902,555
NET INCOME	$ 1,179,957	$ 1,326,205	$ 2,830,030	$ 2,627,328
BASIC AND DILUTED
NET INCOME PER SHARE (in Dollars per share)	$ 0.23	$ 0.26	$ 0.55	$ 0.51
DIVIDENDS PER SHARE (in Dollars per share)	$ 0.1200	$ 0.1000	$ 0.2200	$ 0.1950
WEIGHTED AVERAGE SHARES OUTSTANDING (in Shares)	5,171,597	5,153,373	5,166,532	5,147,711
Service [Member]
OPERATING REVENUES:
Operating Revenues	$ 1,333,578	$ 1,467,360	$ 2,697,230	$ 2,958,746
Network Access [Member]
OPERATING REVENUES:
Operating Revenues	1,630,637	1,725,545	3,295,652	3,388,189
Video [Member]
OPERATING REVENUES:
Operating Revenues	2,554,549	2,419,062	5,013,505	4,789,637
OPERATING EXPENSES:
Cost	2,277,022	2,044,417	4,428,703	4,101,089
Data [Member]
OPERATING REVENUES:
Operating Revenues	3,195,527	3,057,994	6,311,762	6,091,295
OPERATING EXPENSES:
Cost	588,205	549,764	1,136,508	1,098,176
A-CAM/FUSF [Member]
OPERATING REVENUES:
Operating Revenues	1,958,979	2,018,129	3,907,430	4,050,322
Other Non Regulated [Member]
OPERATING REVENUES:
Operating Revenues	1,035,171	1,027,902	2,096,048	2,066,932
Plant Operations [Member]
OPERATING EXPENSES:
Cost	$ 2,084,011	$ 1,987,691	$ 4,100,915	$ 4,037,161

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net Income	$ 1,179,957	$ 1,326,205	$ 2,830,030	$ 2,627,328
Other Comprehensive Income (Loss):
Unrealized Gains (Losses) on Interest Rate Swaps	(22,579)	15,759	(28,178)	42,928
Income Tax (Expense) Benefit Related to Unrealized Gains/(Losses) on Interest Rate Swaps	6,444	(6,378)	8,043	(17,373)
Other Comprehensive Income (Loss):	(16,135)	9,381	(20,135)	25,555
Comprehensive Income	$ 1,163,822	$ 1,335,586	$ 2,809,895	$ 2,652,883

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
CURRENT ASSETS:
Cash	$ 2,477,678	$ 1,842,092
Receivables, Net of Allowance for Doubtful Accounts of $77,500 and $83,000	1,715,704	1,944,501
Income Taxes Receivable	213,985
Materials, Supplies, and Inventories	1,703,259	2,075,199
Financial Derivative Instruments		28,178
Prepaid Expenses	1,151,560	823,310
Total Current Assets	7,262,186	6,713,280
INVESTMENTS & OTHER ASSETS:
Goodwill	39,805,349	39,805,349
Intangibles	15,079,615	16,257,156
Other Investments	7,562,699	7,521,389
Deferred Charges and Other Assets	77,579	52,596
Total Investments and Other Assets	62,525,242	63,636,490
PROPERTY, PLANT & EQUIPMENT:
Telecommunications Plant	128,731,681	127,634,435
Other Property & Equipment	19,292,523	17,750,364
Video Plant	10,489,634	10,440,379
Total Property, Plant and Equipment	158,513,838	155,825,178
Less Accumulated Depreciation	116,955,100	113,875,345
Net Property, Plant & Equipment	41,558,738	41,949,833
TOTAL ASSETS	111,346,166	112,299,603
CURRENT LIABILITIES:
Current Portion of Long-Term Debt, Net of Unamortized Loan Fees	3,315,822	3,315,822
Accounts Payable	1,331,737	2,079,470
Accrued Income Taxes		676,508
Other Accrued Taxes	168,641	166,249
Deferred Compensation	56,208	57,216
Accrued Compensation	1,789,644	1,825,761
Other Accrued Liabilities	321,768	403,964
Total Current Liabilities	6,983,820	8,524,990
LONG-TERM DEBT, Net of Unamortized Loan Fees	22,702,054	24,022,465
NONCURRENT LIABILITIES:
Loan Guarantees	141,496	158,043
Deferred Income Taxes	10,310,648	10,318,689
Other Accrued Liabilities	176,779	194,458
Deferred Compensation	607,679	632,225
Total Noncurrent Liabilities	11,236,602	11,303,415
COMMITMENTS AND CONTINGENCIES:
STOCKHOLDERS' EQUITY:
Preferred Stock - $1.66 Par Value, 10,000,000 Shares Authorized, None Issued
Common Stock - $1.66 Par Value, 90,000,000 Shares Authorized, 5,175,258 and 5,160,065 Shares Issued and Outstanding	8,625,430	8,600,108
Accumulated Other Comprehensive Income		20,135
Unearned Compensation	45,099	13,620
Retained Earnings	61,753,161	59,814,870
Total Stockholders' Equity	70,423,690	68,448,733
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 111,346,166	$ 112,299,603

CONSOLIDATED BALANCE SHEETS (U5

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parentheticals) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Allowance for Doubtful Accounts (in Dollars)	$ 77,500	$ 83,000
Preferred stock par value (in Dollars per share)	$ 1.66	$ 1.66
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Common stock par value (in Dollars per share)	$ 1.66	$ 1.66
Common stock, shares authorized	90,000,000	90,000,000
Common stock, shares issued	5,175,258	5,160,065
Common stock, shares outstanding	5,175,258	5,160,065

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	$ 2,830,030	$ 2,627,328
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Depreciation and Amortization	4,565,791	4,896,891
Undistributed Earnings of Other Equity Investments	(128,372)	(75,232)
Noncash Patronage Refund	(76,485)	(105,145)
Distributions from Equity Investments	200,000	400,000
Stock Issued in Lieu of Cash Payment	146,251	109,593
Stock-based Compensation	31,479
Changes in Assets and Liabilities:
Receivables	237,184	315,456
Income Taxes Receivable	(213,985)	(418,944)
Inventories	371,940	(39,850)
Prepaid Expenses	(203,881)	236,957
Deferred Charges	(33,370)	10,753
Accounts Payable	(1,035,071)	(1,350,938)
Accrued Income Taxes	(676,508)
Other Accrued Taxes	2,392	6,223
Other Accrued Liabilities	(135,992)	(349,012)
Deferred Compensation	(25,554)	(35,834)
Net Cash Provided by Operating Activities	5,855,849	6,228,246
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to Property, Plant, and Equipment, Net	(3,003,545)	(1,673,908)
Grants Received for Construction of Plant	323,319	108,624
Other, Net	(53,000)	(103,000)
Net Cash Used in Investing Activities	(2,733,226)	(1,668,284)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal Payments of Long-Term Debt	(1,350,000)	(2,025,000)
Changes in Revolving Credit Facility		(1,634,778)
Dividends Paid	(1,137,037)	(1,003,878)
Net Cash Used in Financing Activities	(2,487,037)	(4,663,656)
NET INCREASE (DECREASE) IN CASH	635,586	(103,694)
CASH at Beginning of Period	1,842,092	616,114
CASH at End of Period	2,477,678	512,420
Supplemental cash flow information:
Cash paid for interest	543,491	612,803
Net cash paid for income taxes	$ 1,991,000	$ 2,321,500

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS` EQUITY (Unaudited) - USD ($)	Common Stock [Member]	AOCI Attributable to Parent [Member]	Unearned Compensation [Member]	Retained Earnings [Member]	Total
BALANCE at Dec. 31, 2016	$ 8,565,625	$ (13,580)		$ 51,706,451	$ 60,258,496
BALANCE (in Shares) at Dec. 31, 2016	5,139,375
Director's Stock Plan	$ 21,113			128,840	149,953
Director's Stock Plan (in Shares)	12,668
Employee Stock Plan	$ 13,370			61,235	74,605
Employee Stock Plan (in Shares)	8,022
Restricted Stock Grants			$ 13,620		13,620
Net Income				9,954,236	9,954,236
Dividends				(2,035,892)	(2,035,892)
Unrealized Gain on Interest Rate Swap		33,715			33,715
BALANCE at Dec. 31, 2017	$ 8,600,108	20,135	13,620	59,814,870	68,448,733
BALANCE (in Shares) at Dec. 31, 2017	5,160,065
Director's Stock Plan	$ 18,307			181,602	199,909
Director's Stock Plan (in Shares)	10,984
Employee Stock Plan	$ 7,015			63,696	70,711
Employee Stock Plan (in Shares)	4,209
Restricted Stock Grants			31,479		31,479
Net Income				2,830,030	2,830,030
Dividends				(1,137,037)	(1,137,037)
Unrealized Gain on Interest Rate Swap		$ (20,135)			(20,135)
BALANCE at Jun. 30, 2018	$ 8,625,430		$ 45,099	$ 61,753,161	$ 70,423,690
BALANCE (in Shares) at Jun. 30, 2018	5,175,258

Basis of Presentation and Conso

Basis of Presentation and Consolidation	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	Note 1 – Basis of Presentation and Consolidation The accompanying unaudited condensed consolidated financial statements of Nuvera Communications, Inc. and its subsidiaries (Nuvera) have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information, rules and regulations of the Securities and Exchange Commission (SEC) and, where applicable, conform to the accounting principles as prescribed by federal and state telephone utility regulatory authorities. Certain information and disclosures normally included in annual financial statements prepared in accordance with GAAP have been omitted or condensed pursuant to such rules and regulations. In the opinion of management, the unaudited condensed consolidated financial statements reflect all adjustments (consisting only of normal and recurring accruals) considered necessary for the fair presentation of the financial statements and present fairly the results of operations, financial position and cash flows for the interim periods presented as required by Regulation S-X, Rule 10-01. These unaudited interim condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements and notes thereto contained in our Annual Report on Form 10-K for the year ended December 31, 2017. The preparation of our financial statements requires our management to make estimates and judgements that affect the reported amounts of assets, liabilities, revenue and expenses, and the related disclosure of contingent assets and liabilities at the date of the financial statements and during the reporting period. Actual results may differ from these estimates. The results of operations for the interim periods presented are not necessarily indicative of the results that may be expected for the fiscal year as a whole or any other interim period. Our consolidated financial statements report the financial condition and results of operations for Nuvera and its subsidiaries in one business segment: the Telecom Segment. Inter-company transactions have been eliminated from the consolidated financial statements. Revenue Recognition See Note 2 – “Revenue Recognition” for a discussion of our revenue recognition policies. Cost of Services (excluding depreciation and amortization) Cost of services includes all costs related to delivery of communication services and products. These operating costs include all costs of performing services and providing related products including engineering, network monitoring and transport cost. Selling, General and Administrative Expenses Selling, general and administrative expenses include direct and indirect selling expenses, customer service, billing and collections, advertising and all other general and administrative costs associated with the operations of the business. Depreciation and Amortization Expense We use the group life method (mass asset accounting) to depreciate the assets of our telephone companies. Telephone plant acquired in a given year is grouped into similar categories and depreciated over the remaining estimated useful life of the group. When an asset is retired, both the asset and the accumulated depreciation associated with that asset are removed from the books. Due to rapid changes in technology, selecting the estimated economic life of telecommunications plant and equipment requires a significant amount of judgment. We periodically review data on expected utilization of new equipment, asset retirement activity and net salvage values to determine adjustments to our depreciation rates. Depreciation expense was $3,358,661 and $3,632,761 for the six months ended June 30, 2018 and 2017. We amortize our definite-lived intangible assets over their estimated useful lives. Identifiable intangible assets that are subject to amortization are evaluated for impairment. Income Taxes The provision for income taxes consists of an amount for taxes currently payable and a provision for tax consequences deferred to future periods. Deferred income taxes are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities, and their respective tax bases. Significant components of our deferred taxes arise from differences (i) in the basis of property, plant and equipment due to the use of accelerated depreciation methods for tax purposes, as well as (ii) in partnership investments and intangible assets due to the difference between book and tax basis. Our effective income tax rate is normally higher than the United States tax rate due to state income taxes and permanent differences. We account for income taxes in accordance with GAAP, which requires an asset and liability approach to financial accounting and reporting for income taxes. As required by GAAP, we recognize the financial statement benefit of tax positions only after determining that the relevant tax authority would more-likely-than-not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. As of June 30, 2018 and December 31, 2017 we had no unrecognized tax benefits. We are primarily subject to United States, Minnesota, Iowa, Nebraska and Wisconsin income taxes. Tax years subsequent to 2013 remain open to examination by federal and state tax authorities. Our policy is to recognize interest and penalties related to income tax matters as income tax expense. As of June 30, 2018 and December 31, 2017 we had no interest or penalties accrued that related to income tax matters. On December 22, 2017, the President of the United States signed into law, the Tax Cuts and Jobs Act tax reform legislation. This legislation makes significant changes in United States tax law including a reduction in the corporate tax rates, changes to net operating loss carryforwards and carrybacks and a repeal of the corporate alternative minimum tax. The legislation reduced the United States corporate tax rate from the current rate of 35% to 21%. As a result of the enacted law, the Company was required to revalue deferred tax assets and liabilities at the 21% rate in the 4 th Recent Accounting Developments In May 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2017-09 (ASU 2017-09), “Scope of Modification Accounting.” ASU 2017-09 clarifies the modification accounting guidance for stock compensation included in Topic 718, “Compensation – Stock Compensation.” ASU 2017-09 provides guidance about which changes to the terms or conditions of a share-based payment award must be accounted for as a modification under Topic 718. The new guidance is effective prospectively for annual and interim periods beginning after December 15, 2017, with early adoption permitted. We adopted this update effective January 1, 2018 and are applying this guidance to applicable transactions. In January 2017, the FASB issued ASU 2017-04, “Intangibles – Goodwill and other (Topic 350).” ASU 2017-04 simplifies the accounting for goodwill impairment and removes Step 2 of the goodwill impairment test. Goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value limited to the total amount of goodwill allocated to that reporting unit. Entities will continue to have the option to perform a qualitative assessment to determine if a quantitative impairment test is necessary. The same one-step impairment test will be applied to goodwill at all reporting units, even those with zero or negative carrying amounts. The amendments in this update should be applied on a prospective basis. ASU 2017-04 is effective for the Company beginning January 1, 2021. Early adoption is permitted. Management is evaluating the impact the adoption of ASU 2017-04 will have on the Company’s financial statements (if any). In June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 requires entities to use a new forward-looking, expected loss model to estimate credit losses. It also requires additional disclosures relating to the credit quality of trade and other receivables, including information relating to management’s estimate of credit allowances. Nuvera is required to adopt ASU 2016-13 on January 1, 2020. Early adoption as of January 1, 2019 is permitted. We are evaluating the effects that adoption of ASU 2016-13 will have on our financial position, results of operations and disclosures. In February 2016, the FASB issued ASU 2016-02, “Leases,” which requires the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous GAAP. This change will result in an increase to recorded assets and liabilities on lessees’ financial statements, as well as changes in the categorization of rental costs, from rent expense to interest and depreciation expense. Other effects may occur depending on the types of leases and the specific terms of them utilized by particular lessees. The ASU is effective for the Company on January 1, 2019, and early application is permitted. Modified retrospective application is required. The Company is evaluating the effect that ASU 2016-02 will have on its consolidated financial statements and related disclosures. We have reviewed all other significant newly issued accounting pronouncements and determined that they are either not applicable to our business or that no material effect is expected on our financial position and results of operations.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Note 2 – Revenue Recognition Change in Accounting Policy In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606) (Accounting Standards Codification (ASC) 606),” which is a comprehensive revenue recognition standard that supersedes nearly all existing revenue recognition guidance under GAAP. ASU 2014-09 provides a single principles-based, five-step model to be applied to all contracts with customers, which steps are to (1) identify the contact(s) with the customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract and (5) recognize revenue when each performance obligation is satisfied. As amended, the new standard was effective for the Company on January 1, 2018, using either a retrospective basis or a modified retrospective basis with early adoption permitted. We adopted ASU 2014-09 as of January 1, 2018 using the modified retrospective method for open contracts. Under this transition method, the accounting change is applied to the current period with a cumulative effect adjustment recorded to opening retained earnings. Previously reported results will not be restated under this transition method. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606, while prior period amounts are not adjusted and continue to be reported in accordance with our historic accounting practices under ASC 605 (legacy GAAP). The adoption of ASU 2014-09 did not have a material impact to our systems, processes, internal controls or our financial position and results of operations. In addition, the Company did not have any material cumulative-effect adjustments that would have affected its January 1, 2018 assets, liabilities or retained earnings. The adoption of this new standard by the Company did result in additional disclosures around the nature and timing of the Company’s performance obligations, deferred revenue contract liabilities, deferred contract cost assets, as well as significant judgements and practical expedients used by the Company in applying the new five-step revenue model. Our revenue contracts with customers may include a promise or promises to deliver services such as broadband, video or voice services. Promised services are considered distinct as the customer can benefit from the services either on their own or together with other resources that are readily available to the customer and the Company’s promise to transfer service to the customer is separately identifiable from other promises in the contract. The Company accounts for services as separate performance obligations. Each service is considered a single performance obligation as it is providing a series of distinct services that are substantially the same and have the same pattern of transfer. The transaction price is determined at contract inception and reflects the amount of consideration to which we expect to be entitled in exchange for transferring service to the customer. This amount is generally equal to the market price of the services promised in the contract and may include promotional discounts. The transaction price excludes amounts collected on behalf of third parties such as sales taxes and regulatory fees. Conversely, nonrefundable up-front fees, such as service activation and set-up fees, which are immaterial to our overall revenues, are included in the transaction price. In determining the transaction price, we consider our enforceable rights and obligations within the contract. We do not consider the possibility of a contract being cancelled, renewed or modified, which is consistent with ASC 606-10-32-4. The transaction price is allocated to each performance obligation based on the standalone selling price of the service, net of the related discount, as applicable. Revenue is recognized when performance obligations are satisfied by transferring service to the customer as described below. Significant Judgements The Company often provides multiple services to a customer. Provision of customer premise equipment (CPE) and additional service tiers may have a significant level of integration and interdependency with the subscription voice, video, Internet, or connectivity services. Judgement is required to determine whether provision of CPE, installation services, and additional service tiers are considered distinct and accounted for separately, or not distinct and accounted for together with the subscription services. Allocation of the transaction price to the distinct performance obligations in bundled service subscriptions requires judgement. The transaction price for a bundle of services is frequently less than the sum of standalone selling prices of each individual service. Standalone selling prices for the Company’s services are directly observable. Disaggregation of Revenue The following table summarizes revenue from contracts with customers for the quarters ended June 30, 2018 and 2017: Three Months Ended June 30, 2018 2017 Voice services¹ $ 1,523,995 $ 1,642,930 Network access¹ 1,789,625 1,809,266 Video ¹ 2,550,179 2,416,000 Data ¹ 2,798,809 2,573,196 Directory² 178,773 178,949 Cellular³ 131,731 106,640 Other contracted revenue 4 461,691 546,211 Other 5 206,325 188,375 Revenue from customers 9,641,128 9,461,567 Subsidy and other revenue outside scope of ASC 606 6 2,067,313 2,254,425 Total revenue $ 11,708,441 $ 11,715,992 ¹ Month-to-Month contracts billed and consumed in the same month. ² Directory revenue is contracted annually, however, this revenue is recognized monthly over the contract period as the advertising is used. ³ Approximately 88.89% of the revenue in this category is earned through a monthly commission from the network provider for a billing and collecting arrangement with the network provider. We do not receive revenue from the end-user customer, but instead receive a monthly commission from the provider. Other revenue in this category includes phone and equipment sales and represents approximately 1.13% of our total revenue. 4 5 6 The following table summarizes revenue from contracts with customers for the six months ended June 30, 2018 and 2017: Six Months Ended June 30, 2018 2017 Voice services¹ $ 3,082,388 $ 3,276,110 Network access¹ 3,512,840 3,601,108 Video ¹ 5,005,346 4,783,124 Data ¹ 5,543,940 5,128,390 Directory² 350,825 357,016 Cellular³ 251,679 214,042 Other contracted revenue 4 898,328 1,086,309 Other 5 423,344 371,721 Revenue from customers 19,068,690 18,817,820 Subsidy and other revenue outside scope of ASC 606 6 4,252,937 4,527,301 Total revenue $ 23,321,627 $ 23,345,121 ¹ Month-to-Month contracts billed and consumed in the same month. ² Directory revenue is contracted annually, however, this revenue is recognized monthly over the contract period as the advertising is used. ³ Approximately 88.29% of the revenue in this category is earned through a monthly commission from the network provider for a billing and collecting arrangement with the network provider. We do not receive revenue from the end-user customer, but instead receive a monthly commission from the provider. Other revenue in this category include phone and equipment sales and represents approximately 1.08% of our total revenue. 4 5 6 For the three months ended June 30, 2018 and 2017, approximately 80.58% of our total revenue is from month-to-month and other contracted revenue from customers. Approximately 17.66% of our total revenue is from revenue sources outside of the scope of ASC 606. The remaining 1.76% of total revenue is from other sources including CPE and equipment sales and installation. For the six months ended June 30, 2018 and 2017, approximately 79.95% of our total revenue is from month-to-month and other contracted revenue from customers. Approximately 18.24% of our total revenue is from revenue sources outside of the scope of ASC 606. The remaining 1.81% of total revenue is from other sources including CPE and equipment sales and installation. A significant portion of our revenue is derived from customers who may generally cancel their subscriptions at any time without penalty. As such, the amount of revenue related to unsatisfied performance obligations is not necessarily indicative of the future revenue to be recognized from our existing customer base. Revenue from customers with a contractually specified term and non-cancelable service period will be recognized over the term of such contracts, which is generally 3 to 10 years for these types of contracts. Nature of Services Revenues are earned from our customers primarily through the connection to our networks, digital and commercial television (TV) programming, Internet services (high-speed broadband), and hosted and managed services. Revenues for these services are billed based on set rates for monthly service or based on the amount of time the customer is utilizing our facilities. The revenue for these services is recognized when the service is rendered. Revenues earned from interexchange carriers (IXCs) accessing our network are based on the utilization of our network by these carriers as measured by minutes of use on the network or special access to the network by the individual carriers. Revenues are billed at tariffed access rates for both interstate and intrastate calls. Revenues for these services are recognized based on the period the access is provided. Voice Services – We receive recurring revenue for basic local services that enable end-user customers to make and receive telephone calls within a defined local calling area for a flat monthly fee. In addition to subscribing to basic local telephone services, our customers may choose from a variety of custom calling features such as call waiting, call forwarding, caller identification and voicemail. Customers may generally cancel their subscriptions at any time without penalty. Each subscription service provided is accounted for as a distinct performance obligation and revenue is recognized over a one month service period as the subscription services are delivered. Other optional services purchased by the customer are generally accounted for as a distinct performance obligation when purchased and revenue is recognized when the service is provided. Network Access – We provide access services to other telecommunication carriers for the use of our facilities to terminate or originate long distance calls on our network. Additionally, we bill monthly subscriber line charges (SLCs) to substantially all of our customers for access to the public switched network. These SLCs are regulated and approved by the Federal Communications Commission (FCC). In addition, network access revenue is derived from several federally administered pooling arrangements designed to provide support and distribute funding to us. Revenues earned from other telecommunication carriers accessing our network are based on the utilization of our network by these carriers as measured by minutes of use on the network or special access to the network by the individual carriers on monthly basis. Revenues are billed at tariffed access rates for both interstate and intrastate calls and are recognized into revenue monthly based on the period the access was provided. The National Exchange Carriers Association (NECA) pools and redistributes the SLCs to various telecommunication providers through the Connect America Fund (CAF). These revenues are earned and recognized into revenue on a monthly basis. Any adjustments to these amounts received by NECA are adjusted for in revenue upon receipt of the adjustment. Video – We provide a variety of enhanced video services on a monthly recurring basis to our customers. We also receive monthly recurring revenue from our subscribers for providing commercial TV programming. Customers may generally cancel their subscriptions at any time without penalty. Each subscription service provided is accounted for as a distinct performance obligation and revenue is recognized over a one month service period as the subscription services are delivered. Other optional services purchased by the customer are generally accounted for as a distinct performance obligation when purchased and revenue is recognized when the service is provided. Data – We provide high speed Internet to business and residential customers. Our revenue is earned based on the offering of various flat packages based on the level of service, data speeds and features. We also provide e-mail, web hosting and design, on-line file back up and on-line file storage. Data customers may generally cancel their subscriptions at any time without penalty. Each subscription service provided is accounted for as a distinct performance obligation and revenue is recognized over a one month service period as the subscription services are delivered. Other optional services purchased by the customer are generally accounted for as a distinct performance obligation when purchased and revenue is recognized when the service is provided. Directory – Our directory publishing revenue in our telephone directories recurs monthly and is recognized into revenue on a monthly basis. Cellular – We provide retail sales and service of cellular phones and accessories through Telespire, a national wireless provider. We resell these wireless services as TechTrends Wireless, our branded product. We receive both recurring revenue for our wireless services, as well as revenue collected for the sale of wireless phones and accessories. The majority of the revenue in this category is earned through a monthly commission from Telespire for a billing and collecting arrangement with Telespire. We do not receive revenue from the end-user customer, but instead receive a monthly commission from Telespire. Other revenue in this category is immaterial to our overall revenues. Other Contracted Revenue - Managed services and certain other data customers include fiber-delivered communications and managed information technology solutions to mainly business customers, as well as high-capacity last-mile data connectivity services to wireless and wireline carriers. Services are primarily offered on a subscription basis with a contractually specified and non-cancelable service period. The non-cancelable contract terms for these customers generally range from 3 to 10 years. Each subscription service provided is accounted for as a distinct performance obligation and revenue is recognized ratably over the contract period as the subscription services are delivered. These services are billed as monthly recurring charges to customers. Other – We also generate revenue from the sales, service and installation of CPE and other services. Sales and service of CPE are billed and recognized into revenue once the sale or service is complete or delivered. These sales and services are generally short-term in nature and are completed within one month. Other revenues are immaterial to our total revenues. Subsidy and Other Revenue outside the Scope of ASC 606 – We receive subsidies from governmental entities to operate and expand our networks. In addition, we have revenue from leasing arrangements. Both of these revenue streams are outside of the scope of ASC 606. Interstate access rates are established by a nationwide pooling of companies known as the NECA. The FCC established NECA in 1983 to develop and administer interstate access service rates, terms and conditions. Revenues are pooled and redistributed on the basis of a company's actual or average costs. There has been a change in the composition of interstate access charges in recent years, shifting more of the charges to the end user and reducing the amount of access charges paid by IXC’s. We believe this trend will continue. Intrastate access rates are filed with state regulatory commissions in Minnesota and Iowa. Effective January 1, 2017 we no longer received funding from the Federal Universal Service Fund (FUSF) based on the pooling and redistribution of revenues based on a company's actual or average costs as described above, but has instead, elected to receive funding based on the Alternative Connect America Cost Model (A-CAM) as described below. A-CAM The FUSF was established as part of the Telecommunications Act of 1996 and provides subsidies to telecommunications providers as means of increasing the availability and affordability of advanced telecommunications services. In 2011, significant reform was introduced, including the creation of the CAF, to help modernize the FUSF and promote support of these telecom services in the nation’s high cost areas. In 2016, the FCC announced additional reform to further transition the CAF from supporting the provision of voice services to the provision of broadband services. On March 30, 2016, the FCC issued a Report and Order (2016 Order) that adopts the following changes to the FUSF for rate-of-return carriers: · · · · · · · While the 2011 FUSF Transformation Order established CAF Phase I and CAF Phase II as high cost support mechanisms for the price cap carriers (i.e., the larger, national local exchange carriers (LECs) such as Verizon and AT&T), it was not as specific about how subsidies would change for the rate-of-return carriers (i.e., the smaller LECs, including all rural LECs). In contrast, the 2016 Order focused on the rate-of-return carriers, announced specific changes to existing funding mechanisms as well as a new funding mechanism, and provided rural telecommunications providers with greater certainty about future support. One of the major changes introduced by the 2016 Order was the creation of the A-CAM, a new CAF support mechanism for rate-of-return carriers. Utilization of the A-CAM was voluntary; and rate-of-return carriers may have instead chose to continue relying on the legacy support mechanism known as interstate common line support (ICLS), but then modified and renamed CAF Broadband Loop Support. Each carrier needed to decide which support mechanism to elect, and then choose one or the other, per state. In our Form 10-Q for the quarter ended September 30, 2016, Nuvera disclosed that we had elected the A-CAM for our Minnesota and Iowa operations, replacing our former ICLS. Nuvera will receive A-CAM support for a period of ten years in exchange for meeting defined broadband build-out requirements. At the time of Nuvera’s election, the FCC had not yet determined the final award numbers. Consistent with the stated disclosure in our Form 10-Q, Nuvera notified the FCC that we would continue to elect the A-CAM program. Under the report that accompanied the FCC December 20, 2016 Public Notice, Nuvera would annually receive (i) $391,896 for our Iowa operations and (ii) $6,118,567 for our Minnesota operations. The Company will use the annual $6.5 million that we receive through the A-CAM program to meet our defined broadband build-out obligations. The A-CAM payments will replace the Company’s former ICLS payments. On May 7, 2018, the FCC issued Public Notice DA 18-465, which contained revised offers of A-CAM support and associated revised service deployment obligations. On May 23, 2018, the Company’s Board of Directors (BOD) authorized and directed the Company to accept the FCC’s revised offer of A-CAM support and the revised associated service deployment obligations. Under the revised FCC offer Notice, the Company will be entitled to annually receive (i) $489,870 for its Iowa operations, which is a $97,974 increase per year and (ii) $7,648,208 for its Minnesota operations, which is a $1,529,641 increase per year. The Company will use the additional support that it receives through the A-CAM program to continue to meet its defined broadband build-out obligations. A letter of acceptance to elect the revised A-CAM support was filed by the Company with the FCC on May 24, 2018. The FCC accepted the Company’s letter on May 30, 2018. The revised A-CAM support offer payments are expected to begin in the third quarter of 2018. The following table provides information about our receivables, contracts assets and contract liabilities from revenue contracts with our customers: January 1, 2018 June 30, 2018 Increase/(Decrease) Contract Assets: Short-term contract assets $ - $ - $ - Lont-term contract assets $ - $ - $ - Contract Liabilities: Short-term contract liabilities $ 93,656 $ 116,107 $ 22,451 Long-term contract liabilities $ 194,458 $ 176,780 $ (17,678) Receivables: Receivables accounted for under ASC 606 $ 1,431,558 $ 1,194,374 $ (237,184) Subsidy Receivables not accounted for under ASC 606 $ 542,539 $ 542,539 $ - ¹ The difference is due to the timing of the contract billings. ² The reduction in accounts receivable is due to the timing of receipts. Contract Assets Contract assets arise from costs that are incremental to the acquisition of a contract. Incremental costs are those that result directly from obtaining a contract or costs that would not have been incurred if the contract had not been obtained, which primarily relates to sales commissions. Overall commissions paid to our sales representatives are immaterial based on our current commission structure. Due to the immaterial amount of commissions paid and the fact that most of our customers are billed under month-to-month service agreements that generally have no penalties associated with them if canceled by the customer, the Company has applied the practical expedient that allow customer acquisition costs to be expensed as incurred. Contract Liabilities Short-term contract liabilities include deferred revenues for advanced payments for managed services and other long-term contracts. This includes the current portion of the deferred revenues that will be recognized monthly within one year. Long-term contract liabilities include deferred revenues for advanced payments for managed services and other long-term contracts. This includes the portion longer than one year and the corresponding deferred revenues are recognized into revenue on a monthly basis based of the term of the contract. Receivables A receivable is recognized in the period the Company provides goods and services when the Company’s right to consideration is unconditional. Payment terms on invoiced amounts are generally 30-60 days.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Note 3 – Fair Value Measurements We have adopted the rules prescribed under GAAP for our financial assets and liabilities. GAAP includes a fair value hierarchy that is intended to increase consistency and comparability in fair value measurements and related disclosures. The fair value hierarchy is based on inputs to valuation techniques used to measure fair value that are either observable or unobservable. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources, while unobservable inputs reflect a reporting entity’s pricing based upon its own market assumptions. The fair value hierarchy consists of the following three levels: Level 1: Inputs are quoted prices in active markets for identical assets or liabilities. Level 2: Inputs are quoted prices for similar assets or liabilities in an active market, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable and market-corroborated inputs that are derived principally from or corroborated by observable market data. Level 3: Inputs are derived from valuation techniques where one or more significant inputs or value drivers are unobservable. We have used financial derivative instruments to manage our overall cash flow exposure to fluctuations in interest rates. We accounted for derivative instruments in accordance with GAAP that requires derivative instruments to be recorded on the balance sheet at fair value. Changes in fair value of derivative instruments must be recognized in earnings unless specific hedge accounting criteria are met, in which case, the gains and losses are included in other comprehensive income rather than in earnings. We had entered into an interest rate swap agreement (IRSA) with our lender, CoBank, ACB (CoBank), to manage our cash flow exposure to fluctuations in interest rates. This instrument was designated as a cash flow hedge and is effective at mitigating the risk of fluctuations on interest rates in the market place. Any gains or losses related to changes in the fair value of this derivative were accounted for as a component of accumulated other comprehensive income (loss) for as long as the hedge remained effective. The fair value of our IRSA is discussed in Note 6 – “Interest Rate Swaps”. The fair value of our swap agreement was determined based on Level 2 inputs. Other Financial Instruments Other Investments - It is difficult to estimate a fair value for equity investments in companies carried on the equity or cost basis due to a lack of quoted market prices. We conducted an evaluation of our investments in all of our companies in connection with the preparation of our audited financial statements at December 31, 2017. We believe the carrying value of our investments is not impaired. Debt – We estimate the fair value of our long-term debt based on the discounted future cash flows we expect to pay using current rates of borrowing for similar types of debt. Fair value of the debt approximates carrying value. Other Financial Instruments - Our financial instruments also include cash equivalents, trade accounts receivable and accounts payable where the current carrying amounts approximate fair market value.

Goodwill and Intangibles

Goodwill and Intangibles	6 Months Ended
	Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	Note 4 – Goodwill and Intangibles We account for goodwill and other intangible assets under GAAP. Under GAAP, goodwill and intangible assets with indefinite useful lives are not amortized, but are instead tested for impairment (i) on at least an annual basis and (ii) when changes in circumstances indicate that the fair value of goodwill may be below its carrying value. Our goodwill totaled $39,805,349 at June 30, 2018 and December 31, 2017. As required by GAAP, we do not amortize goodwill and other intangible assets with indefinite lives, but test for impairment on an annual basis or earlier if an event occurs or circumstances change that would reduce the fair value of a reporting unit below its carrying amount. These circumstances include, but are not limited to (i) a significant adverse change in the business climate, (ii) unanticipated competition or (iii) an adverse action or assessment by a regulator. Determining impairment involves estimating the fair value of a reporting unit using a combination of (i) the income or discounted cash flows approach and (ii) the market approach that utilizes comparable companies’ data. If the carrying amount of a reporting unit exceeds its fair value, the amount of the impairment loss must be measured. The impairment loss is calculated by comparing the implied fair value of the reporting unit’s goodwill to its carrying amount. In calculating the implied fair value of the reporting unit’s goodwill, the fair value of the reporting unit is allocated to all of the assets and liabilities of the reporting unit. The excess of the fair value of a reporting unit over the amount assigned to its other assets and liabilities is the implied value of goodwill. We recognize impairment loss when the carrying amount of goodwill exceeds its implied fair value. In 2017 and 2016, we engaged an independent valuation firm to complete our annual impairment testing for existing goodwill. For 2017 and 2016, the testing results indicated no impairment charge to goodwill as the determined fair value was sufficient to pass the first step of the impairment test. Our intangible assets subject to amortization consist of acquired customer relationships, regulatory rights and trade names. We amortize intangible assets with finite lives over their respective estimated useful lives. Identifiable intangible assets that are subject to amortization are evaluated for impairment. In addition, we periodically reassess the carrying value, useful lives and classifications of our identifiable intangible assets. The components of our identified intangible assets are as follows: June 30, 2018 December 31, 2017 Gross Gross Useful Carrying Accumulated Carrying Accumulated Lives Amount Amortization Amount Amortization Definite-Lived Intangible Assets Customers Relationships 14-15 yrs $ 29,278,445 $ 18,398,855 $ 29,278,445 $ 17,354,646 Regulatory Rights 15 yrs 4,000,000 2,799,975 4,000,000 2,666,643 Trade Name 3-5 yrs 570,000 570,000 570,000 570,000 Indefinitely-Lived Intangible Assets Video Franchise 3,000,000 - 3,000,000 - Total $ 36,848,445 $ 21,768,830 $ 36,848,445 $ 20,591,289 Net Identified Intangible Assets $ 15,079,615 $ 16,257,156 Amortization expense related to the definite-lived intangible assets was $1,177,541 and $1,234,541 for the six months ended June 30, 2018 and 2017. Amortization expense for the remaining six months of 2018 and the five years subsequent to 2018 is estimated to be: ● ( July 1 – December 31 ) $ 1,177,542 ● 2019 $ 2,355,083 ● 2020 $ 2,355,083 ● 2021 $ 2,355,038 ● 2022 $ 983,688 ● 2023 $ 983,688

Secured Credit Facility

Secured Credit Facility	6 Months Ended
	Jun. 30, 2018
Secured Credit Facility [Abstract]
Secured Credit Facility [Text Block]	Note 5 – Secured Credit Facility We have a credit facility with CoBank. Under the credit facility, we entered into a master loan agreement (MLA) and a series of supplements to the respective MLA. Nuvera and its respective subsidiaries also have entered into security agreements under which substantially all the assets of Nuvera and its respective subsidiaries have been pledged to CoBank as collateral. In addition, Nuvera and its respective subsidiaries have guaranteed all the obligations under the credit facility. These mortgage notes are required to be paid in quarterly installments covering principal and interest, beginning in the year of issue and maturing on December 31, 2021. Our loan agreements include restrictions on our ability to pay cash dividends to our stockholders. However, we are allowed to pay dividends (a) (i) in an amount up to $2,100,000 in any year if our “Total Leverage Ratio,” that is, the ratio of our “Indebtedness” to “EBITDA” (earnings before interest, taxes, depreciation and amortization – as defined in the loan documents) is greater than 2.50 to 1.00, and (ii) in any amount if our Total Leverage Ratio is less than 2.50 to 1.00, and (b) in either case, if we are not in default or potential default under the loan agreements. On March 31, 2016 our Total Leverage Ratio fell below 2.50, thus eliminating any restrictions on our ability to pay cash dividends to our stockholders. Our current Total Leverage Ratio at June 30, 2018 is 1.48. Our credit facility requires us to comply with specified financial ratios and tests. These financial ratios include total leverage ratio, debt service coverage ratio, equity to total assets ratio and fixed coverage ratio. At June 30, 2018 we were in compliance with all the stipulated financial ratios in our loan agreements. There are security and loan agreements underlying our current CoBank credit facility that contain restrictions on our distributions to stockholders and investment in, or loans, to others. Also, our credit facility contains restrictions that, among other things, limits or restricts our ability to enter into guarantees and contingent liabilities, incur additional debt, issue stock, transact asset sales, transfers or dispositions, and engage in mergers and acquisitions, without CoBank approval. As described in Note 6 – “Interest Rate Swaps,” we had previously entered into an IRSA that effectively fixed our interest rates and covered $14.0 million that matured on June 18, 2018. Our debt of $35.2 million ($9.0 million available under the revolving credit facilities and $26.2 million currently outstanding) remains subject to variable interest rates at an effective weighted average interest rate of 4.61%, as of June 30, 2018.

Interest Rate Swaps

Interest Rate Swaps	6 Months Ended
	Jun. 30, 2018
Disclosure Text Block Supplement [Abstract]
Financial Instruments Disclosure [Text Block]	Note 6 – Interest Rate Swaps We assess interest rate cash flow risk by continually identifying and monitoring changes in interest rate exposures that may adversely affect expected future cash flows and by evaluating hedging opportunities. We generally use variable-rate debt to finance our operations, capital expenditures and acquisitions. These variable-rate debt obligations expose us to variability in interest payments due to changes in interest rates. The terms of our credit facility with CoBank required that we enter into interest rate agreements designed to protect us against fluctuations in interest rates, in an aggregate principal amount and for a duration determined under the credit facility. To meet this objective, on June 18, 2015 we entered into an IRSA with CoBank covering $14.0 million of our aggregate indebtedness to CoBank. This swap effectively locked in the interest rate on $14.0 million of variable-rate debt through June 2018. Under this IRSA, we had changed the variable-rate cash flow exposure on the debt obligations to fixed cash flows. Under the terms of the IRSA, we paid a fixed contractual interest rate and (i) made an additional payment if the LIBOR variable rate payment was below a contractual rate or ( ii) receive d a payment if the LIBOR variable rate payment was above the contractual rate. Each month, we made interest payments to CoBank under its loan agreements based on the current applicable LIBOR Rate plus the contractual LIBOR margin then in effect with respect to the loan, without reflecting our IRSA. At the end of each calendar month , CoBank adjust ed our aggregate interest payments based on the difference, if any, between the amounts paid by us during the month and the current effective interest rate . N et interest payments were reported in our consolidated income statement as interest expense. Our IRSA under our credit facilities qualified as a cash flow hedge for accounting purposes under GAAP. We reflected the effect of this hedging transaction in the financial statements. The unrealized gain/loss was reported in other comprehensive income. If we would have terminated our IRSA, the cumulative change in fair value at the date of termination would have been reclassified from accumulated other comprehensive income, which was classified in stockholders’ equity, into earnings on the consolidated statements of income. The fair value of the Company’s IRSA was determined based on valuations received from CoBank and was based on the present value of expected future cash flows using discount rates appropriate with the terms of the IRSA. The fair value indicated an estimated amount we would have been required to pay if the contracts were canceled or transferred to other parties. Our interest rate swap matured on June 18, 2018, at which point the Company no longer had any IRSAs in effect.

Other Investments

Other Investments	6 Months Ended
	Jun. 30, 2018
Other Investments [Abstract]
Other Investments [Text Block]	Note 7 – Other Investments We are a co-investor with other rural telephone companies in several partnerships and limited liability companies. These joint ventures make it possible to offer services to customers, including digital video services and fiber-optic transport services that we would have difficulty offering on our own. These joint ventures also make it possible to invest in new technologies with a lower level of financial risk. We recognize income and losses from these investments on the equity method of accounting. For a listing of our investments, see Note 11 – “Segment Information”.

Guarantees

Guarantees	6 Months Ended
	Jun. 30, 2018
Guarantees [Abstract]
Guarantees [Text Block]	Note 8 – Guarantees Nuvera has guaranteed a ten-year loan owed by FiberComm, LC, maturing on September 30, 2021. As of June 30, 2018, we have recorded a liability of $141,496 in connection with the guarantee on this loan. This guarantee may be exercised if FiberComm, LC does not make its required payments on this note.

Deferred Compensation

Deferred Compensation	6 Months Ended
	Jun. 30, 2018
Disclosure Text Block Supplement [Abstract]
Compensation and Employee Benefit Plans [Text Block]	Note 9 – Deferred Compensation As of June 30, 2018 and December 31, 2017, we have recorded other deferred compensation relating to executive compensation payable to certain former executives of past acquisitions.

Restricted Stock Units (RSU)

Restricted Stock Units (RSU)	6 Months Ended
	Jun. 30, 2018
Restricted Stock Unit [Abstract]
Restricted Stock Unit [Text Block]	Note 10 – Restricted Stock Units (RSU) On February 24, 2017, our BOD adopted the 2017 Omnibus Stock Plan (2017 Plan) effective May 25, 2017. The shareholders of the Company approved the 2017 Plan at the May 25, 2017 Annual Meeting of Shareholders. The purpose of the 2017 Plan was to enable Nuvera and its subsidiaries to attract and retain talented and experienced people, closely link employee compensation with performance realized by shareholders, and reward long-term results with long-term compensation. The 2017 Plan enables us to grant stock incentive awards to current and new employees, including officers, and to Board members and service providers. The 2017 Plan permits stock incentive awards in the form of options (incentive and non-qualified), stock appreciation rights, restricted stock, RSUs, performance stock, performance units, and other awards in stock or cash. The 2017 Plan permits the issuance of up to 625,000 shares of our Common Stock in any of the above stock awards. On July 25, 2017, our BOD granted 6,077 shares of RSUs in the Common Stock of the Company to its executive officers under the 2017 Plan. We recognize share-based compensation expense for these RSUs over the vesting period of the RSUs, which was determined by our BOD. The 2017 RSUs will vest on December 31, 2019, at which point, the executives will be able to receive Common Stock in the Company in exchange for the RSUs. On March 23, 2018, our BOD and Compensation Committee granted awards to the Company’s executive officers under the 2017 Plan. We recognize share-based compensation expense for these RSU’s over the vesting period of the RSUs’ which was determined by our BOD. Each executive officer received a time-based RSU and a performance-based RSU. The time-based RSUs were computed as a percentage of the executive officer’s base salary based on the closing price of Company common stock of $17.00 on March 26, 2018. 4,044 RSU’s were granted and the RSU’s will vest 100% on December 31, 2020, at which point, the executive officers will be able to receive Common Stock in the Company in exchange for the RSUs. The performance-based RSUs were computed as a percentage of the executive officer’s base salary based on the closing price of Company common stock of $17.00 on March 26, 2018. The RSU’s will vest based on the Company’s average Return on Invested Capital (ROIC) for the three years ended December 31, 2020. 5,750 RSU’s were granted as a target and the RSU’s will vest 100% on December 31, 2020 if ROIC levels are attained, at which point, the executive officers will be able to receive Common Stock in the Company in exchange for the RSUs. The executive officers may earn more or less RSU’s based on if the actual ROIC over the time period is more or less than target.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	Note 11 – Segment Information We operate in the Telecom Segment and have no other significant business segments. The Telecom Segment consists of voice, data and video communication services delivered to the customer over our local communications network. No single customer accounted for a material portion of our consolidated revenues. The Telecom Segment operates the following incumbent local exchange carriers (ILECs) and competitive local exchange carriers (CLECs) and has investment ownership interests as follows: Telecom Segment ● ▪ ▪ ▪ ▪ ▪ ● ▪ ▪ ● ▪ ▪ ▪ ▪

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Note 12 – Commitments and Contingencies We are involved in certain contractual disputes in the ordinary course of business. We do not believe the ultimate resolution of any of these existing matters will have a material adverse effect on our financial position, results of operations or cash flows. We did not experience any changes to material contractual obligations in the first six months of 2018. Refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 for the discussion relating to commitments and contingencies.

Broadband Grants

Broadband Grants	6 Months Ended
	Jun. 30, 2018
Broadband Grants [Abstract]
Broadband Grants [Text Block]	Note 13 – Broadband Grants In January 2017, the Company was awarded a broadband grant from the Minnesota Department of Employment and Economic Development (DEED). The grant provided up to 45% of the total cost of building fiber connections to homes and businesses for improved high-speed internet in unserved or underserved communities and businesses in the Company’s service area. The Company will receive $850,486 of the $1,889,968 total project costs. The Company will provide the remaining 55% matching funds. At June 30, 2018, the Company has received $374,543. These projects will be completed in 2018. In November 2017, the Company was awarded a broadband grant from the DEED. The grant provided up to 42.6% of the total cost of building fiber connections to homes and businesses for improved high-speed internet in unserved or underserved communities and businesses in the Company’s service area. The Company will receive $736,598 of the $1,727,998 total project costs. The Company will provide the remaining 57.4% matching funds. Construction and expenditures for these projects will begin in 2018.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2018
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Note 14 – Subsequent Events On July 31, 2018, the Company announced that it had completed its acquisition of Scott-Rice Telephone Company (Scott-Rice) from Allstream Business U.S., LLC, an affiliate of Zayo Group Holdings, Inc. (Zayo) for $42 million in cash. Scott-Rice provides phone, video and internet services with over 18,000 connections, serving the communities of Prior Lake, Savage, Elko and New Market, Minnesota. The combined Nuvera-Scott-Rice company will have approximately 66,000 connections. Nuvera financed the acquisition with its principal lender, CoBank. Further information regarding the CoBank loan terms and amounts can be found on the Company’s 8-K filed with the SEC on August 3, 2018. We have evaluated and disclosed subsequent events through the filing date of this Quarterly Report on Form 10-Q.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition See Note 2 – “Revenue Recognition” for a discussion of our revenue recognition policies.
Cost of Sales, Policy [Policy Text Block]	Cost of Services (excluding depreciation and amortization) Cost of services includes all costs related to delivery of communication services and products. These operating costs include all costs of performing services and providing related products including engineering, network monitoring and transport cost.
Selling, General and Administrative Expenses, Policy [Policy Text Block]	Selling, General and Administrative Expenses Selling, general and administrative expenses include direct and indirect selling expenses, customer service, billing and collections, advertising and all other general and administrative costs associated with the operations of the business.
Depreciation, Depletion, and Amortization [Policy Text Block]	Depreciation and Amortization Expense We use the group life method (mass asset accounting) to depreciate the assets of our telephone companies. Telephone plant acquired in a given year is grouped into similar categories and depreciated over the remaining estimated useful life of the group. When an asset is retired, both the asset and the accumulated depreciation associated with that asset are removed from the books. Due to rapid changes in technology, selecting the estimated economic life of telecommunications plant and equipment requires a significant amount of judgment. We periodically review data on expected utilization of new equipment, asset retirement activity and net salvage values to determine adjustments to our depreciation rates. Depreciation expense was $3,358,661 and $3,632,761 for the six months ended June 30, 2018 and 2017. We amortize our definite-lived intangible assets over their estimated useful lives. Identifiable intangible assets that are subject to amortization are evaluated for impairment.
Income Tax, Policy [Policy Text Block]	Income Taxes The provision for income taxes consists of an amount for taxes currently payable and a provision for tax consequences deferred to future periods. Deferred income taxes are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities, and their respective tax bases. Significant components of our deferred taxes arise from differences (i) in the basis of property, plant and equipment due to the use of accelerated depreciation methods for tax purposes, as well as (ii) in partnership investments and intangible assets due to the difference between book and tax basis. Our effective income tax rate is normally higher than the United States tax rate due to state income taxes and permanent differences. We account for income taxes in accordance with GAAP, which requires an asset and liability approach to financial accounting and reporting for income taxes. As required by GAAP, we recognize the financial statement benefit of tax positions only after determining that the relevant tax authority would more-likely-than-not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. As of June 30, 2018 and December 31, 2017 we had no unrecognized tax benefits. We are primarily subject to United States, Minnesota, Iowa, Nebraska and Wisconsin income taxes. Tax years subsequent to 2013 remain open to examination by federal and state tax authorities. Our policy is to recognize interest and penalties related to income tax matters as income tax expense. As of June 30, 2018 and December 31, 2017 we had no interest or penalties accrued that related to income tax matters. On December 22, 2017, the President of the United States signed into law, the Tax Cuts and Jobs Act tax reform legislation. This legislation makes significant changes in United States tax law including a reduction in the corporate tax rates, changes to net operating loss carryforwards and carrybacks and a repeal of the corporate alternative minimum tax. The legislation reduced the United States corporate tax rate from the current rate of 35% to 21%. As a result of the enacted law, the Company was required to revalue deferred tax assets and liabilities at the 21% rate in the 4 th
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Developments In May 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2017-09 (ASU 2017-09), “Scope of Modification Accounting.” ASU 2017-09 clarifies the modification accounting guidance for stock compensation included in Topic 718, “Compensation – Stock Compensation.” ASU 2017-09 provides guidance about which changes to the terms or conditions of a share-based payment award must be accounted for as a modification under Topic 718. The new guidance is effective prospectively for annual and interim periods beginning after December 15, 2017, with early adoption permitted. We adopted this update effective January 1, 2018 and are applying this guidance to applicable transactions. In January 2017, the FASB issued ASU 2017-04, “Intangibles – Goodwill and other (Topic 350).” ASU 2017-04 simplifies the accounting for goodwill impairment and removes Step 2 of the goodwill impairment test. Goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value limited to the total amount of goodwill allocated to that reporting unit. Entities will continue to have the option to perform a qualitative assessment to determine if a quantitative impairment test is necessary. The same one-step impairment test will be applied to goodwill at all reporting units, even those with zero or negative carrying amounts. The amendments in this update should be applied on a prospective basis. ASU 2017-04 is effective for the Company beginning January 1, 2021. Early adoption is permitted. Management is evaluating the impact the adoption of ASU 2017-04 will have on the Company’s financial statements (if any). In June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 requires entities to use a new forward-looking, expected loss model to estimate credit losses. It also requires additional disclosures relating to the credit quality of trade and other receivables, including information relating to management’s estimate of credit allowances. Nuvera is required to adopt ASU 2016-13 on January 1, 2020. Early adoption as of January 1, 2019 is permitted. We are evaluating the effects that adoption of ASU 2016-13 will have on our financial position, results of operations and disclosures. In February 2016, the FASB issued ASU 2016-02, “Leases,” which requires the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous GAAP. This change will result in an increase to recorded assets and liabilities on lessees’ financial statements, as well as changes in the categorization of rental costs, from rent expense to interest and depreciation expense. Other effects may occur depending on the types of leases and the specific terms of them utilized by particular lessees. The ASU is effective for the Company on January 1, 2019, and early application is permitted. Modified retrospective application is required. The Company is evaluating the effect that ASU 2016-02 will have on its consolidated financial statements and related disclosures. We have reviewed all other significant newly issued accounting pronouncements and determined that they are either not applicable to our business or that no material effect is expected on our financial position and results of operations.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	Three Months Ended June 30, 2018 2017 Voice services¹ $ 1,523,995 $ 1,642,930 Network access¹ 1,789,625 1,809,266 Video ¹ 2,550,179 2,416,000 Data ¹ 2,798,809 2,573,196 Directory² 178,773 178,949 Cellular³ 131,731 106,640 Other contracted revenue 4 461,691 546,211 Other 5 206,325 188,375 Revenue from customers 9,641,128 9,461,567 Subsidy and other revenue outside scope of ASC 606 6 2,067,313 2,254,425 Total revenue $ 11,708,441 $ 11,715,992 ¹ Month-to-Month contracts billed and consumed in the same month. ² Directory revenue is contracted annually, however, this revenue is recognized monthly over the contract period as the advertising is used. ³ Approximately 88.89% of the revenue in this category is earned through a monthly commission from the network provider for a billing and collecting arrangement with the network provider. We do not receive revenue from the end-user customer, but instead receive a monthly commission from the provider. Other revenue in this category includes phone and equipment sales and represents approximately 1.13% of our total revenue. 4 5 6 Six Months Ended June 30, 2018 2017 Voice services¹ $ 3,082,388 $ 3,276,110 Network access¹ 3,512,840 3,601,108 Video ¹ 5,005,346 4,783,124 Data ¹ 5,543,940 5,128,390 Directory² 350,825 357,016 Cellular³ 251,679 214,042 Other contracted revenue 4 898,328 1,086,309 Other 5 423,344 371,721 Revenue from customers 19,068,690 18,817,820 Subsidy and other revenue outside scope of ASC 606 6 4,252,937 4,527,301 Total revenue $ 23,321,627 $ 23,345,121 ¹ Month-to-Month contracts billed and consumed in the same month. ² Directory revenue is contracted annually, however, this revenue is recognized monthly over the contract period as the advertising is used. ³ Approximately 88.29% of the revenue in this category is earned through a monthly commission from the network provider for a billing and collecting arrangement with the network provider. We do not receive revenue from the end-user customer, but instead receive a monthly commission from the provider. Other revenue in this category include phone and equipment sales and represents approximately 1.08% of our total revenue. 4 5 6
Contract with Customer, Asset and Liability [Table Text Block]	January 1, 2018 June 30, 2018 Increase/(Decrease) Contract Assets: Short-term contract assets $ - $ - $ - Lont-term contract assets $ - $ - $ - Contract Liabilities: Short-term contract liabilities $ 93,656 $ 116,107 $ 22,451 Long-term contract liabilities $ 194,458 $ 176,780 $ (17,678) Receivables: Receivables accounted for under ASC 606 $ 1,431,558 $ 1,194,374 $ (237,184) Subsidy Receivables not accounted for under ASC 606 $ 542,539 $ 542,539 $ - ¹ The difference is due to the timing of the contract billings. ² The reduction in accounts receivable is due to the timing of receipts.

Goodwill and Intangibles (Table

Goodwill and Intangibles (Tables)	6 Months Ended
	Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets [Table Text Block]	June 30, 2018 December 31, 2017 Gross Gross Useful Carrying Accumulated Carrying Accumulated Lives Amount Amortization Amount Amortization Definite-Lived Intangible Assets Customers Relationships 14-15 yrs $ 29,278,445 $ 18,398,855 $ 29,278,445 $ 17,354,646 Regulatory Rights 15 yrs 4,000,000 2,799,975 4,000,000 2,666,643 Trade Name 3-5 yrs 570,000 570,000 570,000 570,000 Indefinitely-Lived Intangible Assets Video Franchise 3,000,000 - 3,000,000 - Total $ 36,848,445 $ 21,768,830 $ 36,848,445 $ 20,591,289 Net Identified Intangible Assets $ 15,079,615 $ 16,257,156
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	● ( July 1 – December 31 ) $ 1,177,542 ● 2019 $ 2,355,083 ● 2020 $ 2,355,083 ● 2021 $ 2,355,038 ● 2022 $ 983,688 ● 2023 $ 983,688

Basis of Presentation and Con25

Basis of Presentation and Consolidation (Details)	6 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Dec. 31, 2017USD ($)
Accounting Policies [Abstract]
Number of Reportable Segments	1
Depreciation	$ 3,358,661	$ 3,632,761
Unrecognized Tax Benefits	$ 0		$ 0

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($)	May 23, 2018	Jun. 30, 2018	Jun. 30, 2017
A-CAM [Member]
Revenue Recognition (Details) [Line Items]
Proceeds From Contracts (in Dollars)		$ 6,500,000
Iowa Operations [Member]
Revenue Recognition (Details) [Line Items]
Contract Receivable (in Dollars)	$ 489,870	391,896
Increase (Decrease) in Contract Receivables, Net (in Dollars)	97,974
Minnesota Operations [Member]
Revenue Recognition (Details) [Line Items]
Contract Receivable (in Dollars)	7,648,208	$ 6,118,567
Increase (Decrease) in Contract Receivables, Net (in Dollars)	$ 1,529,641
Minimum [Member]
Revenue Recognition (Details) [Line Items]
Contract Term		3 years
Payment Term		30 days
Maximum [Member]
Revenue Recognition (Details) [Line Items]
Contract Term		10 years
Payment Term		60 days
Voice Services [Member]
Revenue Recognition (Details) [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		1 month
Video [Member]
Revenue Recognition (Details) [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		1 month
Data [Member]
Revenue Recognition (Details) [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		1 month
Other Contracted Revenue [Member] | Minimum [Member]
Revenue Recognition (Details) [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		3 years
Other Contracted Revenue [Member] | Maximum [Member]
Revenue Recognition (Details) [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		10 years
Product and Service, Other [Member]
Revenue Recognition (Details) [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		1 month
2018-04-01 [Member] | Outside Of The Scope Of ASC 606 [Member]
Revenue Recognition (Details) [Line Items]
Revenue, Remaining Performance Obligation, Percentage		17.66%
2018-04-01 [Member] | CPE And Equipment Sales And Installation [Member]
Revenue Recognition (Details) [Line Items]
Revenue, Remaining Performance Obligation, Percentage		1.76%
2018-04-01 [Member] | Month To Month And Other Contracted Revenue [Member]
Revenue Recognition (Details) [Line Items]
Revenue, Remaining Performance Obligation, Percentage		80.58%	80.58%
2018-01-01 [Member] | Outside Of The Scope Of ASC 606 [Member]
Revenue Recognition (Details) [Line Items]
Revenue, Remaining Performance Obligation, Percentage		18.24%
2018-01-01 [Member] | CPE And Equipment Sales And Installation [Member]
Revenue Recognition (Details) [Line Items]
Revenue, Remaining Performance Obligation, Percentage		1.81%
2018-01-01 [Member] | Month To Month And Other Contracted Revenue [Member]
Revenue Recognition (Details) [Line Items]
Revenue, Remaining Performance Obligation, Percentage		79.95%	79.95%

Revenue Recognition (Details) -

Revenue Recognition (Details) - Revenue from contracts with customers - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Disaggregation of Revenue [Line Items]
Revenue From Customers	$ 9,641,128	$ 9,461,567	$ 19,068,690	$ 18,817,820
Subsidy and Other Revenue Outside the Scope of ASC 6066	2,067,313	2,254,425	4,252,937	4,527,301
Total revenue	11,708,441	11,715,992	23,321,627	23,345,121
Voice Services [Member]
Disaggregation of Revenue [Line Items]
Revenue From Customers	1,523,995	1,642,930	3,082,388	3,276,110
Network Access [Member]
Disaggregation of Revenue [Line Items]
Revenue From Customers	1,789,625	1,809,266	3,512,840	3,601,108
Total revenue	1,630,637	1,725,545	3,295,652	3,388,189
Video [Member]
Disaggregation of Revenue [Line Items]
Revenue From Customers	2,550,179	2,416,000	5,005,346	4,783,124
Total revenue	2,554,549	2,419,062	5,013,505	4,789,637
Data [Member]
Disaggregation of Revenue [Line Items]
Revenue From Customers	2,798,809	2,573,196	5,543,940	5,128,390
Total revenue	3,195,527	3,057,994	6,311,762	6,091,295
Directory [Member]
Disaggregation of Revenue [Line Items]
Revenue From Customers	178,773	178,949	350,825	357,016
Cellular [Member]
Disaggregation of Revenue [Line Items]
Revenue From Customers	131,731	106,640	251,679	214,042
Other Contracted Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue From Customers	461,691	546,211	898,328	1,086,309
Product and Service, Other [Member]
Disaggregation of Revenue [Line Items]
Revenue From Customers	$ 206,325	$ 188,375	$ 423,344	$ 371,721

Revenue Recognition (Details)28

Revenue Recognition (Details) - Receivables, contracts assets and contract liabilities from revenue contracts with customers - USD ($)	Jun. 30, 2018	Jan. 01, 2018
Contract Assets:
Short-term contract assets
Lont-term contract assets
Contract Liabilities:
Short-term contract liabilities	116,107	93,656
Long-term contract liabilities	176,780	194,458
Receivables:
Receivables accounted for under ASC 606	1,194,374	1,431,558
Subsidy Receivables not accounted for under ASC 606	542,539	$ 542,539
Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Contract Assets:
Short-term contract assets
Lont-term contract assets
Contract Liabilities:
Short-term contract liabilities	22,451
Long-term contract liabilities	(17,678)
Receivables:
Receivables accounted for under ASC 606	(237,184)
Subsidy Receivables not accounted for under ASC 606

Goodwill and Intangibles (Detai

Goodwill and Intangibles (Details) - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 39,805,349		$ 39,805,349
Amortization of Intangible Assets	$ 1,177,541	$ 1,234,541

Goodwill and Intangibles (Det30

Goodwill and Intangibles (Details) - Components of Identified Intangible Assets - USD ($)	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 36,848,445	$ 36,848,445
Accumulated Amortization	21,768,830	20,591,289
Net Identified Intangible Assets	15,079,615	16,257,156
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	29,278,445	29,278,445
Accumulated Amortization	$ 18,398,855	17,354,646
Customer Relationships [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Useful Lives	14 years
Customer Relationships [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Useful Lives	15 years
Regulatory Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Useful Lives	15 years
Gross Carrying Amount	$ 4,000,000	4,000,000
Accumulated Amortization	2,799,975	2,666,643
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	570,000	570,000
Accumulated Amortization	$ 570,000	570,000
Trade Names [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Useful Lives	3 years
Trade Names [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Useful Lives	5 years
Franchise Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 3,000,000	3,000,000
Accumulated Amortization

Goodwill and Intangibles (Det31

Goodwill and Intangibles (Details) - Summary of Future Amortization Expense	Jun. 30, 2018USD ($)
Summary of Future Amortization Expense [Abstract]
● (July 1 – December 31)	$ 1,177,542
● 2019	2,355,083
● 2020	2,355,083
● 2021	2,355,038
● 2022	983,688
● 2023	$ 983,688

Secured Credit Facility (Detail

Secured Credit Facility (Details)	Jun. 18, 2015USD ($)	Jun. 30, 2018USD ($)
Secured Debt [Member]
Secured Credit Facility (Details) [Line Items]
Debt Instrument, Covenant Description		Our loan agreements include restrictions on our ability to pay cash dividends to our stockholders. However, we are allowed to pay dividends (a) (i) in an amount up to $2,100,000 in any year if our “Total Leverage Ratio,” that is, the ratio of our “Indebtedness” to “EBITDA” (earnings before interest, taxes, depreciation and amortization – as defined in the loan documents) is greater than 2.50 to 1.00, and (ii) in any amount if our Total Leverage Ratio is less than 2.50 to 1.00, and (b) in either case, if we are not in default or potential default under the loan agreements.
Debt Instrument, Threshold Amount, Dividends		$ 2,100,000
Ratio of Indebtedness to Net Capital		1.48
Debt Instrument, Covenant Compliance		Our credit facility requires us to comply with specified financial ratios and tests. These financial ratios include total leverage ratio, debt service coverage ratio, equity to total assets ratio and fixed coverage ratio.
Long-term Line of Credit		$ 26,200,000
Secured Credit Facility [Member]
Secured Credit Facility (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 35,200,000
Debt, Weighted Average Interest Rate		4.61%
Amended And Restated MLA With Co Bank [Member] | Revolving Credit Facility [Member]
Secured Credit Facility (Details) [Line Items]
Line of Credit Facility, Current Borrowing Capacity		$ 9,000,000
Interest Rate Swap [Member]
Secured Credit Facility (Details) [Line Items]
Aggregate Indebtedness	$ 14,000,000
Derivative, Maturity Date	Jun. 18, 2018

Interest Rate Swaps (Details)

Interest Rate Swaps (Details) $ in Millions	Jun. 18, 2015USD ($)
Interest Rate Swap [Member]
Interest Rate Swaps (Details) [Line Items]
Aggregate Indebtedness	$ 14

Guarantees (Details)

Guarantees (Details)	Jun. 30, 2018USD ($)
Guarantees [Abstract]
Guaranty Liabilities	$ 141,496

Restricted Stock Units (RSU) (D

Restricted Stock Units (RSU) (Details) - 2017 Plan [Member] - $ / shares	Mar. 23, 2018	Jul. 25, 2017	Mar. 26, 2018	Feb. 24, 2017
Restricted Stock Units (RSU) (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized				625,000
Restricted Stock Units (RSUs) [Member]
Restricted Stock Units (RSU) (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		6,077
Share-based Compensation Arrangement by Share-based Payment Award, Vesting Date		Dec. 31, 2019
Time Based RSUs [Member]
Restricted Stock Units (RSU) (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Vesting Date	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	4,044
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	100.00%
Performance Based RSUs [Member]
Restricted Stock Units (RSU) (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Vesting Date	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	5,750
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	100.00%
Common Stock [Member] | Time Based RSUs [Member]
Restricted Stock Units (RSU) (Details) [Line Items]
Share Price (in Dollars per share)			$ 17
Common Stock [Member] | Performance Based RSUs [Member]
Restricted Stock Units (RSU) (Details) [Line Items]
Share Price (in Dollars per share)			$ 17

Segment Information (Details)

Segment Information (Details)	Jun. 30, 2018
Fiber Comm LC [Member]
Segment Information (Details) [Line Items]
Equity Method Investment, Ownership Percentage	20.00%
Broadband Visions LLC [Member]
Segment Information (Details) [Line Items]
Equity Method Investment, Ownership Percentage	24.30%
Independent Emergency Services LLC [Member]
Segment Information (Details) [Line Items]
Equity Method Investment, Ownership Percentage	14.29%
SM Broadband LLC [Member]
Segment Information (Details) [Line Items]
Equity Method Investment, Ownership Percentage	12.50%

Broadband Grants (Details)

Broadband Grants (Details) - USD ($)	1 Months Ended		6 Months Ended
	Nov. 30, 2017	Jan. 31, 2017	Jun. 30, 2018
January 2017 Grant [Member]
Broadband Grants (Details) [Line Items]
Grants, Percentage		45.00%
Grants Receivable			$ 850,486
Project Cost			$ 1,889,968
Matching Fund Percentage Provided by Grantee			55.00%
Proceeds from Grants			$ 374,543
November 2017 Grant [Member]
Broadband Grants (Details) [Line Items]
Grants, Percentage	42.60%
Grants Receivable			736,598
Project Cost			$ 1,727,998
Matching Fund Percentage Provided by Grantee			57.40%

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	1 Months Ended
	Jul. 31, 2018USD ($)
Subsequent Event [Member] | Acquisition of Scott-Rice [Member]
Subsequent Events (Details) [Line Items]
Payments to Acquire Businesses, Gross	$ 42