Quarterly report pursuant to Section 13 or 15(d)

Equity Transactions

v3.20.2
Equity Transactions
9 Months Ended
Sep. 30, 2020
Federal Home Loan Banks [Abstract]  
Equity Transactions
NOTE 18. EQUITY TRANSACTIONS
We account for stock-based compensation expense in accordance with FASB ASC Topic 718,
Compensation-Stock Compensation
. As a result, $0.1 million and $0.3 million of
non-cash
stock-based compensation expense has been recorded to additional
paid-in
capital for the three and nine
months
ended September 30, 2020, respectively, in comparison to $0.2 million and $1.3 million of
non-cash
stock-based compensation expense having been recorded to additional
paid-in
capital for the three and nine months ended September 30, 2019, respectively.
The declaration of any future distributions and the establishment of the per share amount, record dates, and payment dates are subject to final determination by our Board and dependent upon future earnings, cash flows, financial and legal requirements, and other factors. On May 6, 2020 our Board voted to discontinue distributions on our common stock indefinitely due to the adverse economic impact of the
COVID-19
pandemic on our financial position, results of operations, and cash flows.
The following table shows distributions that have been declared and paid since January 1, 2019:
 
Announcement Date
  
Payment Date
  
Amount Per Share
    
Cash Distributed

(
in thousands
)
 
March 10, 2020
   March 31, 2020    $ 0.0250      $ 667  
December 10, 2019
   December 30, 2019    $ 0.0250        667  
September 11, 2019
   September 30, 2019    $ 0.0650        1,730  
May 14, 2019
   June 28, 2019    $ 0.0650        1,728  
March 7, 2019
   March 29, 2019    $ 0.0650        1,702