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CASH AND STOCK DIVIDENDS
12 Months Ended
Dec. 31, 2018
Cash and Stock Dividends [Abstract]  
Cash and Stock Dividends

NOTE 6 - CASH AND STOCK DIVIDENDS

 

Under the previous MidCap and the current Bank of America loan agreements, the Company covenants that so long as the lender remains committed to make any advance or extend any other credit to us, or any obligations remain outstanding, the Company will not declare or pay any dividend or distribution (either in cash or any other property in respect of any stock) or redeem, retire, repurchase or otherwise acquire any of our stock, other than dividends and distributions by subsidiaries of parent to parent.


In 2018 and 2017, the Board of Directors did not declare a cash or stock dividend.