Note 16 - Preferred Stock

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

NOTE

1

6

– PREFERRED STOCK

At

December 31, 2017,

the Company had issued and outstanding

6,198

Series E preferred shares and

4,304

Series F preferred shares, both of which series were

not

convertible into common shares, had a liquidation preference of

$1,000

per share, and were entitled to a

2%

noncumulative annual dividend if and when declared. Series E and Series F preferred shares ranked senior to, and had liquidation and dividend preferences over, the common shares and non-voting common shares.

On

June 26, 2018,

the Company completed the purchase and retirement of all of its issued and outstanding Series E and Series F preferred shares for an aggregate price of

$3.5

million paid in cash. The Series E and F shares had an aggregate liquidation preference of

$10.5

million.