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Note 16 - Stockholder Rights Plan
3 Months Ended
Mar. 31, 2014
Disclosure Text Block Supplement [Abstract]  
Preferred Stock [Text Block]

NOTE 16 – STOCKHOLDER RIGHTS PLAN


In November 2012, the Board of Directors declared a dividend of one preferred share purchase right (a “Right”) for each outstanding share of our common stock, which dividend was paid on November 21, 2012 to stockholders of record at the close of business on such date. The Board of Directors also adopted the Rights Agreement by and between the Company and Registrar and Transfer Company, as Rights Agent (the “Rights Agreement”). Until certain events described in the Rights Agreement and noted in the following paragraph, the Rights were not exercisable and did not trade separately from our common stock.


The Rights were to become exercisable (subject to customary exceptions) only if a person or group (an “acquiring person”) without approval of the Board of Directors acquired 15% or more of our common stock or launched a tender offer that, if consummated, would result in them becoming an acquiring person. In such event, each holder of a Right, except the acquiring person, would have the right to purchase from us that number of shares of common stock (or to purchase common stock from an entity that completes a business combination with us) having an aggregate market price on the date on which such Rights first became exercisable, equal to twice the Exercise Price, for an amount in cash equal to the Exercise Price. The Exercise Price was set initially at $12.00 per share.


On April 9, 2014, the Board of Directors unanimously voted to terminate our Rights Agreement effective April 11, 2014.