MIND defers Series A Preferred dividend; backlog $19.3M, orders $29M+

MIND TECHNOLOGY, INC

Board elected not to declare Q3 FY2023 cash dividend on 9.00% Series A Cumulative Preferred Stock.
Dividend is cumulative; unpaid distributions accrue for future payment.
Backlog $19.3M as of July 31, 2022, with over $1.3M additional orders and total bookings >$29M this fiscal year.
Deferral due to potential liquidity demands to complete orders and timing uncertainty of receivables.
Company has positive working capital and no funded debt; common dividends and redemptions prohibited during deferral.

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