Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS' EQUITY

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STOCKHOLDERS' EQUITY
 9 Months Ended
Sep. 30, 2023
Disclosure Text Block [Abstract]  
STOCKHOLDERS' EQUITY
NOTE F - STOCKHOLDERS’ EQUITY
 
Series C Preferred Stock
 
For the three and nine months ended September 30, 2023, and 2022, we did not declare or pay cash distributions to the holders of the Series C Preferred Stock. Included in the carrying value of the Series C preferred Stock as of September 30, 2023 was the amount of the cumulative, declared dividends of $19.2 million, along with the accretion of $4.8 million and $13.1 million for the three and nine months ended September 30, 2023. During the nine months ended September 30, 2022, the amount of the cumulative, undeclared, unpaid dividends is $13.5 million, along with the accretion of $1.8 million and $3.5 million for the three and nine months ended September 30, 2022, respectively. The amount of accretion is recognized as a reduction to Additional Paid-in Capital for the respective periods.