Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2025

STOCKHOLDERS’ EQUITY [Abstract]

Authorized Common Stock and Cumulative Preferred Stock

Authorized common stock consists of the following:

(shares in thousands)	December 31, 2025		December 31, 2024
Par value	$	0.01	$	0.01
Authorized shares		200,000		200,000
Issued shares		84,938		84,938
Outstanding shares		84,938		84,938

Authorized cumulative preferred stock consists of the following:

(shares in thousands)	December 31, 2025		December 31, 2024
Par value	$	0.01	$	0.01
Authorized shares		20,000		20,000
Issued shares		-		-
Outstanding shares		-		-

Changes in Outstanding Shares of Common Stock

Changes in the outstanding shares of Common Stock of the Company are as follows:

(in thousands)	Year Ended   December 31,   2025		Year Ended   December 31,   2024
Common stock outstanding at beginning of period		84,938		40,738
Common stock repurchased for treasury		-		-
Issuance of common stock		-		38,528
Sale of treasury stock		-		5,672
Common stock outstanding at end of period		84,938		84,938

Changes in Treasury Shares of Common Stock

Changes in the treasury shares of Common Stock of the Company are as follows:

(in thousands)	Year Ended   December 31,   2025		Year Ended   December 31,   2024
Treasury stock held at beginning of period		-		5,672
Common stock repurchased for treasury		-		-
Issuance of treasury stock		-		(5,672	)
Treasury stock held at end of period		-		-

Private Placement Equity Offering

Summary information of private placement Equity Offering is as follows:

($ in thousands, except per share data)
Number of Shares purchased by BARC		42,950,460
Number of Shares purchased by others		1,250,000
Total number of Shares offered and purchased		44,200,460
Equity Offering – purchase price per Share	$	0.20
Total proceeds received from the Equity Offering	$	8,840

Information Relating to Common Stock Repurchase Plan

Information relating to the Repurchase Plan is as follows:

(in thousands)	Year Ended December 31, 2025
Common shares repurchased to treasury during the period		-
Aggregate cost of shares repurchased during the period	$	-

(in thousands)	December 31,   2025
Total number of common shares authorized for repurchase		10,000
Total number of common shares repurchased to date		6,226
Total number of shares that may yet be repurchased		3,774