The Series B Preferred Stock of the Company’s subsidiary, M&EC, is non-voting and non-convertible, has a liquidation preference per share and be redeemed at the option of the former stockholders of M&EC at any time for the per share price of The holders of the Series B Preferred Stock will be entitled to receive when, as, and if declared by the Board of M&EC out of legally available funds, dividends at the rate of per year per share applied to the amount of per share, which dividends are fully cumulative. M&EC has not paid any of the cumulative dividends since the Series B Preferred Stock was issued. M&EC has been accruing dividends for the Series B Preferred Stock issued and have accrued a total of approximately of unpaid cumulative dividends since of which was accrued in each of the years ended to and is included in other long term liabilities in the accompanying Consolidated Balance Sheets.