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Note 7 - Stock Repurchase
3 Months Ended
Mar. 31, 2019
Notes  
Note 7 - Stock Repurchase

NOTE 7 – STOCK REPURCHASE

 

On January 13, 2016, the Company’s Board of Directors approved a resolution authorizing the repurchase of up to $100,000 of the Company’s common stock at the price of $0.38 per share (the “Stock Repurchase Plan”). The Company’s share repurchase program does not obligate it to acquire any specific number of shares. On March 2, 2016, the Company’s Board of Directors approved a resolution authorizing the repurchase of an additional $150,000 of the Company’s common stock at the price of $0.38 per share. Under the Stock Repurchase Plan, shares may be repurchased in open market transactions, complying with Rule 10b5-1 and Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Shares repurchased are retired. During the three-month period ended March 31, 2020, no shares were repurchased; 39,246 shares for $14,920 were repurchased in the three-month period ended March 31, 2019. Since inception of the Stock Repurchase Plan, the Company has repurchased 212,165 shares for a total of $80,622 through March 31, 2020 and $169,378 of the original $250,000 approved by the board remains.