Completed a rights offering, raising approximately $4.3 million from subscribers for 4,284,640 common shares at $1.00 per share. Clarkston Companies, Inc. (and its assignee) fulfilled its backstop commitment, purchasing 9,715,360 unsubscribed common shares for approximately $2.2 million in cash and an offset from the preferred stock redemption. Total gross proceeds from the rights offering and backstop commitment amounted to $14 million. Redeemed all Series B Preferred Stock from Clarkston Companies, Inc. for an aggregate price of $7.5 million, including accrued dividends. Amended a common stock purchase warrant held by Clarkston Companies, Inc. to correct errors and limit the holder's rights regarding pro rata distributions. Filed a Certificate of Correction to the Series B Preferred Stock designation, adjusting the dividend rate and enabling optional redemption by the Company prior to maturity.