XML 33 R15.htm IDEA: XBRL DOCUMENT v2.4.0.6
Note 10 - Treasury Stock
9 Months Ended
Sep. 30, 2012
Treasury Stock [Text Block]
Note 10.  Treasury Stock

On July 31, 2012, the Company repurchased 8,000,000 shares of its Common Stock at a price of $0.126 per share. The transaction was effected through a broker dealer making a market in the Company’s shares on behalf of an affiliate of the Company.

During August 2012, the Board of Directors authorized a stock repurchase program, whereby the Company may repurchase up to 10,000,000 shares of its outstanding Common Stock. The shares may be repurchased from time-to-time in the open market or through privately negotiated transactions at prices the Company deems appropriate. The program does not obligate the Company to acquire any particular amount of Common Stock and the program may be modified or suspended at any time at the Company’s discretion.  The stock repurchase plan will be funded through the Company’s cash on hand and the Credit Agreement.