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Preferred Stock of TCO
12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Preferred Stock of TCO [Text Block] Preferred Stock of TCO

Preferred Stock

We are obligated to issue to the noncontrolling partners of TRG, upon subscription, one Series B Preferred Share for each of the TRG Units held by the noncontrolling partners. Each Series B Preferred Share entitles the holder to one vote on all matters submitted to our shareholders. The holders of Series B Preferred Shares, voting as a class, have the right to designate up to four nominees for election as directors of TCO. On all other matters on which the holders of common stock are entitled to vote, including the election of directors, the holders of Series B Preferred Shares will vote with the holders of common stock. The holders of Series B Preferred Shares are not entitled to dividends or earnings of TCO. The Series B Preferred Shares are convertible into common stock at a ratio of 14,000 shares of Series B Preferred Stock for one share of common stock. During the years ended December 31, 2019, 2018, and 2017, 55,704, 75,120, and 90,945 Series B Preferred Shares, respectively, were converted to two shares, four shares, and five shares of our common stock, respectively, as a result of tenders of units under the Continuing Offer (Note 15).