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Note 13 - Equity and Stock-based Compensation
3 Months Ended
Apr. 30, 2023
Notes to Financial Statements  
Shareholders' Equity and Share-Based Payments [Text Block]

13. Equity and Stock-Based Compensation

 

As of April 30, 2023, there are approximately 1,683,000 shares of Preferred Stock outstanding with an aggregate liquidation preference of approximately $43.9 million, which amount includes approximately $3.8 million in undeclared cumulative dividends. Holders of our Preferred Stock are entitled to receive, when and as declared by the Board out of funds of the Company available for the payment of distributions, quarterly cumulative preferential cash dividends of $0.5625 per share of the $25.00 per share stated liquidation preference on our Preferred Stock. Dividends on the Preferred Stock are payable quarterly in arrears, on April 30, July 31, October 31, and January 31, of each year. During the three months ended April 30, 2023, the Board did not declare, and the Company did not pay a quarterly dividend on our Preferred Stock. As a result, the Company has approximately $3.8 million of cumulative undeclared preferred dividends as of April 30, 2023. During the three months ended April 30, 2022, the Board declared a quarterly dividend of $0.5625 per share on our Preferred Stock. 

 

Total compensation expense recognized for stock-based awards granted under the Company’s equity incentive plan during the three-month period ended April 30, 2023 was approximately $ 50,000, and during the three-month period ended April 30, 2022, was approximately $ 236,000.