FBIOP dividend resumption?

FBIOP dividend resumption? Not sure of the monthly ex dividend date, but I think as of Sept 15th, the cumulative deferred dividend on FBIOP has risen to $5.27 a share owed to holders of the preferred stock. This will rise to approximately $5.85 dividend a share by the December dividend date this year(9.375% annually paid on $25 preferred stock price), closing in on $18 million in arrears owed to preferred stock shareholders as of the end of this year. Without paying back dividends FBIO will not be able to sell additional stock to cover trials on assets they own, including clenbuterol(Avenue Therapeutics) for a late stage FDA trial. Mustang Bio is working on a trial studying a CAR T cell with an oncolytic virus(Mustang Bio), and a few other products FBIO has in development that are still working their way through the initial cycle for new INDs(Investigational New Drug) to submit to the FDA. FBIO has sold products approved and in trials with the FDA for some milestone payments and royalty agreements with Sun Pharma for Unloxcyt(skin cancer), Crystalys for dotinurad for the treatment of gout(currently in a large FDA trial), Zycubo for Menkes disease(sold to Sentynyl Therapeutics) and a few other programs that may or may not pan out. Sun Pharma is marketing Unloxcyt in the US and is trying for European approval as well, there will be royalties from this coming in, royalties listed as $100k from Sun on last quarterly financial report. Dotinurad is approved in Asia for treating gout, and has a pretty good safety profile there, so while no drug for the FDA is completely derisked, this one has a good chance of approval in my opinion. Zycubo is also being marketed after getting approval, the FDA approval of Zycubo included a priority review voucher that FBIO sold for over $200 million, and put the company back in a strong financial picture going forward. At market close today, FBIOP was trading at $18.44. If the dividend is reinstated, the preferred stock will probably go back the the $25 value or higher(9.375% paying dividend stocks are hard to find) and $5+ a share in deferred dividends. If I buy 100 shares at $1844 AND the dividend is reinstated, it would pay about 40% return initially, with a 9.375% dividend going forward paid monthly(percentage paid based on set $25 redemption price per share price of preferred stock). Alternatively, FBIO could redeem the preferred stock for $25 a share + accumulated dividends, for about $100 million, which would dent their war chest, but not break it. I am hoping for either scenario to be honest, but would love to have a 9.375% dividend stock in my Roth IRA as the dividends wouldn't be taxed so its straight 9.375% return, potential great retirement income vehicle if they don't redeem the $25 preferred certificates. Any flaws in my logic? Currently I own stock in both FBIOP and FBIO, so if you decide to invest in either, do your own due diligence.