Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS' EQUITY

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STOCKHOLDERS' EQUITY
 6 Months Ended
Jun. 30, 2023
Disclosure Text Block [Abstract]  
STOCKHOLDERS' EQUITY

NOTE F - STOCKHOLDERS’ EQUITY

Series C Preferred Stock

 

For the three and six months ended June 30, 2023, and June 30, 2022, we did not declare or
pa
y cash distributions to the holders of the Series C Preferred Stock. Included in the carrying value of the Series C preferred Stock as of June 30, 2023 was the amount of the cumulative, declared dividends of $12.5 million, along with the accretion of $4.8 and $8.3 million for the three and six months ended June 30, 2023.
During the six months ended
June 30, 2022, the amount of the cumulative, undeclared, unpaid dividends is $
7.6
million,
alo
ng with the accretion of $0.5 million and $1.9 million for the three and six months ended June 30, 2022, for a total of $
9.5
million. The amount of accretion is recognized as a reduction to Additional Paid-in Capital for the respective periods.