Subsequent Events |
3 Months Ended |
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Mar. 31, 2024 | |
| Subsequent Events [Abstract] | |
| Subsequent Events |
Note Q – Subsequent Events
On May 1, 2024, in accordance with the Convertible Preferred Stock Certificate of Designation, the Company issued 7,022.45 shares of Series A Convertible Preferred Stock to holders of record as of April 15, 2024 as a paid-in-kind dividend on the Convertible Preferred Stock. As such, the 100,912.65 outstanding shares of Convertible Preferred Stock were convertible into approximately 33,086,123 shares of the Company’s Common Stock as of May 1, 2024.
The Company has evaluated subsequent events after the consolidated balance sheet as of March 31, 2024 through the condensed consolidated financial statements issuance date and has concluded there were no additional subsequent events that require disclosure.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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