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7. TREASURY STOCK
12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Treasury Stock

NOTE 7: TREASURY STOCK

 

During the year ended December 31, 2019, the Company repurchased 588 shares of common stock at a total cost of $218 under a repurchase program authorized on March 26, 2018 and repurchased 6 shares of common stock at a total cost of $4 under the 2019 Repurchase Program. The average price per share of treasury stock purchased in 2019 was $0.37.

 

On December 31, 2019, the Company had 2,621 shares of common stock held in treasury.

 

On December 23, 2019, the Board of Directors authorized a repurchase program (the “2019 Repurchase Program”) under which the Company could repurchase up to 500 shares of outstanding stock. The 2019 Repurchase Program was funded from cash on hand and cash provided by operating activities.

 

During the year ended December 31, 2020, the Company repurchased an aggregate of 743 shares of common stock at a total cost of $524 under the 2019 Repurchase Program and in a privately negotiated transaction. 495 shares were purchased under the 2019 Repurchase Program, and the remaining 248 shares were separately authorized by the Board. The 2019 Repurchase Program was exhausted at the conclusion of this transaction.

 

Additionally, the Company purchased 3 shares of common stock at an average price of approximately $0.43 per share totaling $1 in a privately negotiated transaction during the year ended December 31, 2020.

 

On December 31, 2020, the Company had 3,367 shares of common stock held in treasury.

 

Treasury shares are accounted for using the cost method.