Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Shareholders' Equity (Unaudited)

v3.23.3
Consolidated Statements of Shareholders' Equity (Unaudited) - 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 income (loss) 1,140 1,140
Foreign currency translation adjustment (255) (255)
Issuance of stock under the equity incentive plan
Issuance of stock under the equity incentive plan, shares 22,319   145,809          
Stock-based compensation, net of cash settlements 887 887
Issuance of Series B Preferred Stock $ 1 26,637 26,638
Issuance of Series B Preferred Stock, shares   1,150,372            
Preferred stock dividends (4,037) (4,037)
Redemption of Series A Preferred Stock (20,000) (20,000)
Redemption of series A preferred stock, shares (800,000)              
Stock issuance costs (11) (11)
Balance at Mar. 31, 2022 $ 5 $ 1 $ 16 134,855 (29,913) (2,009) (662) 102,293
Balance, shares at Mar. 31, 2022 4,521,546 1,150,372 15,803,450          
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 income (loss)               4,933
Foreign currency translation adjustment [1]               (1,782)
Preferred stock dividends               (11,662)
Balance at Sep. 30, 2022 $ 5 $ 1 $ 16 133,120 (26,120) (3,536) (662) 102,824
Balance, shares at Sep. 30, 2022 4,526,231 1,309,216 15,951,935          
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          
Cumulative effect of adopting ASC 326              
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          
Balance at Mar. 31, 2022 $ 5 $ 1 $ 16 134,855 (29,913) (2,009) (662) 102,293
Balance, shares at Mar. 31, 2022 4,521,546 1,150,372 15,803,450          
Net income (loss) 2,737 2,737
Foreign currency translation adjustment (990) (990)
Issuance of stock under the equity incentive plan
Issuance of stock under the equity incentive plan, shares 4,685 10,000 15,809          
Stock-based compensation, net of cash settlements 1,257 1,257
Issuance of Series B Preferred Stock 1,223 1,223
Issuance of Series B Preferred Stock, shares   49,876            
Preferred stock dividends (3,776) (3,776)
Redemption of Series A Preferred Stock (5) (5)
Stock issuance costs (10) (10)
Balance at Jun. 30, 2022 $ 5 $ 1 $ 16 133,544 (27,176) (2,999) (662) 102,729
Balance, shares at Jun. 30, 2022 4,526,231 1,210,248 15,819,259          
Net income (loss) 1,056 1,056
Foreign currency translation adjustment (537) (537) [1]
Issuance of stock under the equity incentive plan
Issuance of stock under the equity incentive plan, shares     132,676          
Stock-based compensation, net of cash settlements 1,017 1,017
Issuance of Series B Preferred Stock 2,419 2,419
Issuance of Series B Preferred Stock, shares   98,968            
Preferred stock dividends (3,849) (3,849)
Stock issuance costs (11) (11)
Balance at Sep. 30, 2022 $ 5 $ 1 $ 16 133,120 (26,120) (3,536) (662) 102,824
Balance, shares at Sep. 30, 2022 4,526,231 1,309,216 15,951,935          
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 income (loss) (401) (401)
Foreign currency translation adjustment (1,711) (1,711)
Issuance of stock under the equity incentive plan
Issuance of stock under the equity incentive plan, shares 41,491 343,203          
Stock-based compensation, net of cash settlements 1,185 1,185
Shares issued for services
Shares issued for services, shares     20,000          
Issuance of Series B Preferred Stock 1,437 1,437
Issuance of Series B Preferred Stock, shares   59,773            
Preferred stock dividends (3,931) (3,931)
Balance at Mar. 31, 2023 $ 5 $ 1 $ 16 129,678 (26,208) (4,748) (662) 98,082
Balance, shares at Mar. 31, 2023 4,526,231 1,445,392 16,333,407          
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)
Net income (loss)               (4,982)
Foreign currency translation adjustment [1]               (1,255)
Issuance of Series B Preferred Stock, shares   59,773            
Preferred stock dividends               (11,757)
Balance at Sep. 30, 2023 $ 5 $ 1 $ 17 123,872 (30,789) (4,292) (662) 88,152
Balance, shares at Sep. 30, 2023 4,526,231 1,463,392 16,598,449          
Balance at Mar. 31, 2023 $ 5 $ 1 $ 16 129,678 (26,208) (4,748) (662) 98,082
Balance, shares at Mar. 31, 2023 4,526,231 1,445,392 16,333,407          
Net income (loss) (1,832) (1,832)
Foreign currency translation adjustment 94 94
Issuance of stock under the equity incentive plan
Issuance of stock under the equity incentive plan, shares   9,000 15,489          
Stock-based compensation, net of cash settlements 1,089 1,089
Shares issued for services
Shares issued for services, shares     20,000          
Preferred stock dividends (3,910) (3,910)
Balance at Jun. 30, 2023 $ 5 $ 1 $ 16 126,857 (28,040) (4,654) (662) 93,523
Balance, shares at Jun. 30, 2023 4,526,231 1,454,392 16,368,896          
Net income (loss) (2,749) (2,749)
Foreign currency translation adjustment 362 362 [1]
Issuance of stock under the equity incentive plan $ 1 1
Issuance of stock under the equity incentive plan, shares   9,000 229,553          
Stock-based compensation, net of cash settlements 931 931
Preferred stock dividends (3,916) (3,916)
Balance at Sep. 30, 2023 $ 5 $ 1 $ 17 $ 123,872 $ (30,789) $ (4,292) $ (662) $ 88,152
Balance, shares at Sep. 30, 2023 4,526,231 1,463,392 16,598,449          
[1] No tax effect has been recorded as the Company recorded a valuation allowance against the tax benefit from its foreign currency translation adjustments.