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Common Stock (Common Stock [Member])
12 Months Ended
Dec. 31, 2013
Common Stock [Member]
 
Common Stock

Note 12. Common Stock

 

The Company’s common stock is duly authorized, full paid and non-assessable.  At December 31, 2013 and 2012, members of the Board of Directors and executive officers owned approximately 10.8% and 14.2%, respectively, of the Company’s outstanding common stock.

 

On March 29, 2011, the Company entered into an equity distribution agreement with JMP Securities LLC (“JMP”) pursuant to which the Company may offer and sell up to 250,000 shares of common stock from time to time through JMP. Sales of shares of the Company common stock, if any, under the agreement may be made in negotiated transactions or other transactions that are deemed to be “at the market” offerings, including sales made directly on the Nasdaq Global Market or sales made to or through a market maker other than on an exchange. The common stock, if sold, will be sold pursuant to a Company’s registration statement filed with the Securities and Exchange CommissionThe Company sold through JMP, as its agent, an aggregate of 11,466 shares of common stock in 2011, pursuant to ordinary brokers’ transactions on the Nasdaq Stock Market.  Gross proceeds in 2011 were $97,  commissions to agent were $5, other miscellaneous expenses were $3,  and net proceeds to the Company were $89.    

 

The Company also has Series A preferred stock (see Note 13), Series B preferred stock (see Note 10) and Series C convertible preferred stock (see Note 14), outstanding.