XML 31 R18.htm IDEA: XBRL DOCUMENT v3.24.3
Subsequent Events
9 Months Ended
Sep. 30, 2024
Subsequent Events  
Subsequent Events

11.          Subsequent Events

Dividends on 6% Preferred Stock

On September 4, 2024, the board of directors of the Company passed a resolution to suspend payment of the quarterly cash dividend on the Company’s 6% Convertible Exchangeable Preferred Stock scheduled for November 1, 2024. The Board of Directors will continue to evaluate the payment of a quarterly cash dividend on a quarterly basis.

On October 15, 2024, 200,000 shares of the Company’s 6% Convertible Exchangeable Preferred Stock was converted into 3 shares of common stock.

As of October 23, 2024, all of the remaining 4,135,000 pre-funded warrants pursuant to the April 2024 Securities Purchase Agreement were fully exercised.