XML 19 R18.htm IDEA: XBRL DOCUMENT v2.4.0.8
12. Subsequent Event
6 Months Ended
Jun. 30, 2013
Notes to Financial Statements  
12. Subsequent Event

Preferred Stock

 

On August 13, 2013, the Company received stockholder approval of an amendment to the Certificate of Incorporation of the Company to increase the number of authorized shares of Preferred Stock from 1,000,000 to 2,500,000.

 

Common Stock

 

On August 13, 2013, the Company received stockholder approval of an amendment to the Certificate of Incorporation of the Company to increase the number of authorized shares of Common Stock from 10,000,000 to 20,000,000.

 

Stock Options

 

On August 13, 2013, the Company received stockholder approval of an amendment to the 2005 Plan to increase the number of shares authorized to be issued pursuant to the 2005 Plan from 550,000 to 700,000.

 

Dividends Declared and Paid

 

On August 13, 2013, the Company’s Board of Directors approved a dividend of $.04 per share, or $153,637, payable in cash on September 13, 2013 to stockholders of record as of August 30, 2013.