XML 70 R9.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Shareholders' Equity
6 Months Ended
Dec. 31, 2019
Federal Home Loan Banks [Abstract]  
Shareholders' Equity

Note 4. – Shareholders’ Equity

2019-2020 Common Share Repurchase Program – On October 8, 2019, the Company announced a share repurchase program (“2019-2020 Program”) approved by its Board of Directors which authorizes the Company to purchase up to $750 of its common shares in the open market.  As of December 31, 2019, a total of 3,814 shares have been repurchased at a cost of approximately $4. The chart below shows by month the total shares repurchased and average price per share paid for the 2019-2020 Program through December 31, 2019. As of the date of this filing, the Company has repurchased 8,086 shares at a cost of approximately $9. On January 31, 2020, the Company announced its Board of Directors had extended the terminate date of the 2019-2020 Program to June 1, 2020, unless it further extended or earlier terminated by the Company.

 

 

 

Total Shares

 

 

Average Price

 

 

 

Purchased

 

 

Per Share Paid

 

November 2019

 

 

935

 

 

$

1.17

 

December 2019

 

 

2,879

 

 

 

1.18

 

Total

 

 

3,814

 

 

$

1.17

 

2018 Common Share Repurchase Program – On November 29, 2018, the Company announced a share repurchase program (“2018 Program”) approved by its Board of Directors, which authorized the Company to purchase up to 300,000 shares of its common shares.  On December 13, 2018, the Company announced it had purchased the 300,000 shares authorized under the 2018 Program, and that its Board of Directors had authorized an additional 450,000 shares to be purchased under the 2018 Program.  As of October 3, 2019, the 2018 Program termination date, a total of 359,959 shares were repurchased at a cost of approximately $372, excluding fees and expenses relating to the offer.  The chart below shows by month the total shares repurchased and average price per share paid for the 2018 Program prior to its termination.

 

 

Total Shares

 

 

Average Price

 

 

 

Purchased

 

 

Per Share Paid

 

November 2018

 

 

1,235

 

 

$

1.14

 

December 2018

 

 

358,724

 

 

 

1.03

 

Total

 

 

359,959

 

 

$

1.03

 

 

Stock-Based Compensation For the three months ended December 31, 2019 and 2018, the Company recognized  no stock-based compensation for options issued to employees and directors of the Company.  For the six months ended December 31, 2019 and 2018, the Company recognized $27 and $1, respectively, in stock-based compensation for options issued to employees and directors of the Company. The fair value of the share options granted was estimated using the Black-Scholes option-pricing model.  There were 50,000 share options granted under the 2011 Director Stock Option Plan during the six months ended December 31, 2019, and no shares granted under the 2011 Director Stock Option Plan during the six months ended December 31, 2018.