NOTE 14 - PREFERRED STOCK

As of March 31, 2020, the Company accounted for the Series C, D, E and F Preferred Stock at its initial fair value at closing of the 2019 Transaction Agreement on March 5, 2019, plus cumulative paid-in-kind dividends accrued subsequent to the closing of the transactions contemplated by the 2019 Transaction Agreement, under mezzanine equity in the consolidated balance sheet. The components of each series of preferred stock are summarized in the table below:



	Series C Preferred Stock			Series D Preferred Stock			Series E Preferred Stock			Series F Preferred Stock
	Number of Shares	Amount		Number of Shares	Amount		Number of Shares	Amount		Number of Shares	Amount
	(In thousands, except shares)
Balance, January 1, 2020	125,000	$	99,303	39,254	$	29,082	60,000	$	66,285	55,000	$	50,861
Paid-in-kind dividends	—	3,620		—	896		—	1,324		—	1,332
Balance, March 31, 2020	125,000	$	102,923	39,254	$	29,978	60,000	$	67,609	55,000	$	52,193

See Note 2 - Chapter 11 Filing, Liquidity and Going Concern for a description of the terms of the RSA and the impact of the Chapter 11 Cases on the preferred stock of the Company.

On June 29, 2020, the Bankruptcy Court entered an interim order establishing certain procedures and restrictions with respect to the direct or indirect purchase, disposition or other transfer of the Company’s preferred stock and common stock by holders of its preferred stock and certain substantial holders of its common stock.