14. Stockholders’ Deficit

During 2019 and 2018, the Board of Directors did not declare any quarterly cash dividends on the Company’s Common Stock.

During 2019, the Company declared cash dividends aggregating $80,000 which was paid in connection with the redemption of all of the outstanding Series B Convertible Preferred Stock (“SBCPS”). In September 2018, the Board of Directors declared a cash dividend of $6.00 per share for each share of SBCPS (aggregating $99,000, which was paid in November 2018). In April 2018, the Board of Directors declared a stock dividend of 7.6923 shares of Common Stock for each share of SBCPS (aggregating 127,013 common shares, which were issued in May 2018). As of December 31, 2018, the Company had recorded accumulated unpaid dividends related to SBCPS of $41,000.

The Company was authorized to issue 2,500,000 shares of preferred stock as of December 31, 2019, of which (i) 416,500 shares were designated as Series A Convertible Preferred Stock, none of which were outstanding, (ii) 51,000 shares were designated as SBCPS, none of which were outstanding, and (iii) 2,032,500 shares were not yet designated. The undesignated preferred stock would contain such rights, preferences, privileges and restrictions as may be fixed by our Board of Directors.

Shares of the Company’s Common Stock reserved for future issuance in connection with convertible securities and stock option plans were 260,000 and 6,260,343 at December 31, 2019 and 2018, respectively.

During 2019 and 2018, certain board members deferred payment of their director fees. In lieu of a cash payment, certain board members and former board members have agreed to receive restricted shares of Common Stock of the Company or a combination of cash and restricted shares of Common Stock of the Company, which such restricted shares shall contain a legend under the Securities Act of 1933 and shall not be transferable unless and until registered or otherwise in accordance with applicable securities laws. No restricted stock was issued in lieu of cash payments for directors’ fees in 2019 or 2018.

Accumulated other comprehensive loss is comprised of approximately $6.8 million and $6.5 million of unrecognized pension costs at December 31, 2019 and 2018, respectively, and $194,000 and $76,000 of unrealized foreign currency translation gains at December 31, 2019 and 2018, respectively.

The components of accumulated other comprehensive loss are as follows:

In thousands	Pension plan actuarial loss		Foreign currency translation gain (loss)		Total
Balances at January 1, 2018	$	(5,817)	$	281	$	(5,536)
Actuarial loss		(653)		-		(653)
Translation loss		-		(205)		(205)
Balances at December 31, 2018		(6,470)		76		(6,394)
Actuarial loss		(342)		-		(342)
Translation gain		-		118		118
Balances at December 31, 2019	$	(6,812)	$	194	$	(6,618)