For the first quarter and the second quarter, the Company expects to reclassify accrued dividends related to the Company's previously issued Series A and Series A-1 Convertible Preferred Stock from equity to current liabilities in the amounts of approximately $879,000 and $1,619,000, respectively. In October 2003, the Company issued shares of Series A Convertible Preferred Stock in connection with its $50,000,000 private placement, which shares were subsequently exchanged for and replaced with shares of Series A-1 Convertible Preferred Stock. When the Company repurchased all outstanding shares of Series A-1 Convertible Preferred Stock in July 2004, the Company's obligation to pay dividends on such shares terminated. The accrued dividends were never paid and ultimately were recorded in equity upon the completion of the repurchase transaction. In addition, the dividends were properly captured in the calculation of earnings per share in the periods above.