Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Shareholders' Equity

v3.24.1
Consolidated Statements of Shareholders' Equity - USD ($)
$ in Thousands
Preferred Stock [Member]
Series A Preferred Stock [Member]
Preferred Stock [Member]
Series B Preferred Stock [Member]
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
AOCI Attributable to Parent [Member]
Treasury Stock, Common [Member]
Total
Balance at Dec. 31, 2021 $ 5 $ 16 $ 131,379 $ (31,053) $ (1,754) $ (662) $ 97,931
Balance, shares at Dec. 31, 2021 5,299,227 15,657,641          
Net (loss) income 5,432 5,432
Foreign currency translation adjustment (1,283) (1,283) [1]
Stock issued under the equity incentive plan
Issuance of stock under the equity incentive plan, shares 27,004 19,270 303,491          
Issuance of Series B Preferred Stock [2] $ 1 30,900 30,901
Issuance of Series B Preferred Stock, shares 1,324,858          
Stock-based compensation, net of cash settlements 4,262 4,262
Preferred stock dividends (15,517) (15,517)
Redemption of Series A Preferred Stock (20,005) (20,005)
Redemption of Series A Preferred Stock, shares (800,000)              
Exercise of common stock warrants
Exercise of common stock warrants, shares     9,072          
Stock issuance costs (32) (32)
Balance at Dec. 31, 2022 $ 5 $ 1 $ 16 130,987 (25,621) (3,037) (662) 101,689
Balance, shares at Dec. 31, 2022 4,526,231 1,344,128 15,970,204          
Cumulative effect of adopting ASC 326 (186) (186)
Balance - January 1, 2023 after adoption $ 5 $ 1 $ 16 130,987 (25,807) (3,037) (662) 101,503
Balance, shares 4,526,231 1,344,128 15,970,204          
Net (loss) income (48,674) (48,674)
Foreign currency translation adjustment (832) (832) [1]
Stock issued under the equity incentive plan $ 1 1
Issuance of stock under the equity incentive plan, shares 64,891 610,687          
Issuance of Series B Preferred Stock [2] 1,427 1,427
Issuance of Series B Preferred Stock, shares 59,773            
Shares issued for services
Shares issued for services, shares 40,000          
Stock-based compensation, net of cash settlements 3,966 3,966
Preferred stock dividends (15,674) (15,674)
Balance at Dec. 31, 2023 $ 5 $ 1 $ 17 $ 120,706 $ (74,481) $ (3,869) $ (662) $ 41,717
Balance, shares at Dec. 31, 2023 4,526,231 1,468,792 16,620,891          
[1] No tax effect has been recorded as the Company recorded a valuation allowance against the tax benefit from its foreign currency translation adjustments.
[2] Amounts are net of issuance cost of approximately $71,000 and $2.3 million for 2023 and 2022, respectively.