v3.25.2
Series B Convertible Preferred Stock
3 Months Ended
May 31, 2025
Series B Convertible Preferred Stock  
Series B Convertible Preferred Stock

10. Series B Convertible Preferred Stock

 

The balance of Series B Convertible Preferred Stock as at May 31, 2025 and February 28, 2025 was as follows:

 

 

 

May 31, 2025

 

 

February 28, 2025

 

Stated value at issuance

 

$10,395

 

 

$10,395

 

Accrued PIK dividends

 

 

592

 

 

 

252

 

Series B Convertible Preferred Stock

 

$10,987

 

 

$10,647

 

 

During the three-month period ended May 31, 2025, the company recorded PIK dividends of $340 (2024 – nil), which were recorded in “Interest and other financial expenses” in our Consolidated Statements of Operations and Comprehensive Loss.