Stockholder's Equity (Deficit) and Redeemable Instruments

12 Months Ended

Dec. 31, 2014

Equity [Abstract]

Stockholder's Equity (Deficit) and Redeemable Instruments

NOTE 7 – STOCKHOLDERS’ EQUITY (DEFICIT) AND REDEEMABLE INSTRUMENTS

In anticipation of our IPO, we amended our Certificate of Incorporation on February 10, 2014 to, among other things, authorize additional shares of common and preferred stock. On February 25, 2014, we further amended our Certificate of Incorporation to delete references to the Redeemable Preferred Stock, all of which was redeemed with proceeds from our IPO and subsequently retired and cancelled.

In December 2014, we entered into a share repurchase agreement with Cetus Capital II, LLC, a related party, for the purchase of 300,000 shares of our common stock for an aggregate purchase price of $5,283, or $17.61 per share, which was the last reported sales price of the company’s common stock on December 11, 2014. The effect of these treasury shares reducing the number of common shares outstanding is reflected in our earnings per share calculation. For additional information on the related party relationship, see Note 10, Related Party Transactions.

As of December 31, 2014, we had 5,000,000 shares of preferred stock authorized with no shares issued or outstanding, 100,000,000 shares of common stock authorized, 31,839,087 shares of common stock issued and 31,539,087 shares of common stock outstanding, all with par value of $0.01, and 300,000 shares of treasury stock at cost.