Subsequent Events (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands |
3 Months Ended | |||
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Apr. 24, 2018 |
Apr. 02, 2018 |
Mar. 31, 2018 |
Dec. 31, 2017 |
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Preferred stock, shares outstanding | ||||
Subsequent Event [Member] | Series B Preferred Stock [Member] | ||||
Liquidation preference per share | $ 1.00 | |||
Purchase price of preferred stock | $ 1.00 | |||
Cumulative dividends rate | 5.00% | |||
Conversion of stock, description | On April 24, 2018, the Company announced a private exchange offer (Exchange Offer), to all holders of the M&EC Series B Preferred Stock , to exchange, for every share of Series B Preferred Stock tendered, (a) 0.1050805 shares of newly issued common stock of the Company, par value $.001 per share (Common Stock), and (b) cash in lieu of fractional shares of Common Stock that would otherwise be issuable to the tendering holder of Series B Preferred Stock, in an amount equal to such fractional share of Common Stock multiplied by the closing price per share of the Common Stock on the last trading day immediately preceding the expiration date of the Exchange Offer. The Exchange Offer is being made on an all-or-none basis, for all 1,284,730 shares of Series B Preferred Stock outstanding and has an expiration date of May 30, 2018. | |||
Preferred stock, shares outstanding | 1,284,730 | |||
Voting capital stock | The Company owns 100% of the voting capital stock of M&EC. | |||
Quarterly cash dividends and cumulative accrued and unpaid dividends | $ 1,011 | |||
Subsequent Event [Member] | Series B Preferred Stock [Member] | Maximum [Member] | ||||
Number of common shares issued | 135,000 |
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- Definition Quarterly cash dividends and cumulative accrued and unpaid dividends. No definition available.
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- Definition Description of voting rights of common stock. Includes eligibility to vote and votes per share owned. Include also, if any, unusual voting rights. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition A unique description of a noncash or part noncash stock conversion. The description would be expected to include sufficient information to provide an understanding of the nature and purpose of the conversion. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The percentage rate used to calculate dividend payments on preferred stock. No definition available.
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- Definition The per share liquidation preference (or restrictions) of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) that has a preference in involuntary liquidation considerably in excess of the par or stated value of the shares. The liquidation preference is the difference between the preference in liquidation and the par or stated values of the share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The price per share at which the preferred stock of an entity that has priority over common stock in the distribution of dividends and in the event of liquidation of the entity is redeemed or may be called at. The redemption features of this preferred stock are solely within the control of the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The number of shares issued or sold by the subsidiary or equity method investee per stock transaction. No definition available.
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