NOTE 11 - SHARE REPURCHASE PROGRAMS

9 Months Ended

Sep. 30, 2016

Note 11 - Share Repurchase Programs

NOTE 11 - SHARE REPURCHASE PROGRAMS

On February 24, 2016, our Board of Directors approved a share repurchase program with provisions to buy back up to $1 million of our stock during the period from March 2, 2016 through March 31, 2017.  The program was established with a 10b5-1 plan under the Exchange Act to provide flexibility to make purchases throughout the period.  For the three months ended September 30, 2016, 6,500 shares of stock have been repurchased at an average price of $2.61 for a total of $16,951 plus $136 in commissions.  For the nine months ended September 30, 2016, 80,345 shares of stock have been repurchased at an average price of $2.36 for a total of $189,360 plus $1,652 in commissions.

The following is a summary of share repurchase activity under the plan through September 30, 2016:

Repurchases by Month	Average Price Paid per Share	Total Number of Shares Purchased as Part of Publicly Announced Repurchase Program	Approximate Dollar Value of Shares that May Yet Be Purchased under the Program
March 2016	$2.26	42,515	$903,161
April 2016	$2.35	8,480	$883,064
May 2016	$2.52	7,650	$863,602
June 2016	$2.45	15,200	$826,078
July 2016	$2.61	6,500	$808,991
Total	$2.36	80,345