Capital Structure: Class A Redeemable Preferred Stock	3 Months Ended
Mar. 31, 2026
Capital Structure: Class A Redeemable Preferred Stock
Capital Structure: Class A Redeemable Preferred Stock	3. Capital Structure: Class A Redeemable Preferred Stock On July 18, 2025, the Company issued 2,069,065 shares of Class A Redeemable Preferred Stock as a one-time special stock dividend to holders of common stock and common stock equivalents of record as of July 11, 2025 (one Class A share for each common share and common stock equivalent then outstanding). The Class A shares have a par value of $0.001 per share and rank senior to common stock. 2,069,066 shares are authorized and were issued and outstanding as of March 31, 2026. Pursuant to the Certificate of Designation, the Class A shares are mandatorily redeemable at par value upon the occurrence of an Asset Sale (as defined). The Asset Sale to Biamp Systems, LLC closed on October 24, 2025. As a result, the redemption obligation became unconditional and the Class A shares are classified as a current liability at par value ($2) as of March 31, 2026 in accordance with ASC 480-10-S99. The redemption occurred on April 21, 2026. The ultimate redemption amount equaled the actual net proceeds received from the Asset Sale after permitted expenses. See Note 15 — Subsequent Events for additional information.

On July 18, 2025, the Company issued 2,069,065 shares of Class A Redeemable Preferred Stock as a one-time special stock dividend to holders of common stock and common stock equivalents of record as of July 11, 2025 (one Class A share for each common share and common stock equivalent then outstanding). The Class A shares have a par value of $0.001 per share and rank senior to common stock. 2,069,066 shares are authorized and were issued and outstanding as of March 31, 2026.

Pursuant to the Certificate of Designation, the Class A shares are mandatorily redeemable at par value upon the occurrence of an Asset Sale (as defined). The Asset Sale to Biamp Systems, LLC closed on October 24, 2025. As a result, the redemption obligation became unconditional and the Class A shares are classified as a current liability at par value ($2) as of March 31, 2026 in accordance with ASC 480-10-S99.

The redemption occurred on April 21, 2026. The ultimate redemption amount equaled the actual net proceeds received from the Asset Sale after permitted expenses. See Note 15 — Subsequent Events for additional information.