Capital Stock

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Capital Stock

15. Capital Stock.

During the three months ended March 31, 2020, 15,000 shares were issued upon the exercise of employee stock options (2019 – 12,000) and 10,000 shares were issued upon the exercise of consultant stock options (2019 – nil).

In February 2019, the Company announced the payment of a special dividend to the existing stockholders of the Company as of March 6, 2019 in the amount of five cents per share.

In March 2019, the Company announced the payment of annual dividends of $0.15 per share, to be paid in two tranches. Shareholders of record on March 31, 2019 received $0.075 per share on April 15, 2019 and shareholders of record on September 30, 2019 received $0.075 per share on October 15, 2019. On March 19, 2020, the Company suspended the annual dividend until further notice due to the uncertainty surrounding the COVID-19 virus.

In June 2019, the holder of the Company’s convertible note opted to convert $500,000 of the convertible note into 200,000 shares of the Company’s common stock.