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Preferred Stock
12 Months Ended
Dec. 31, 2025
Preferred Stock  
Preferred Stock

Note 12. Preferred Stock

During the year ended December 31, 2023, the Board of Directors approved the redemption of 17.0 million shares of Series A preferred stock and 7.4 million shares of Series B preferred stock. The preferred stock redemption was completed with a $1 per share value in exchange for a $23.8 million ten-year promissory note and $0.6 million forgiveness of accounts receivable due from holders of preferred stock. See Note 16 for additional information.