Stockholders' Equity

3 Months Ended

Mar. 31, 2014

Equity [Abstract]

Stockholders' Equity

8. Stockholders’ Equity

Between December 2008 and August 2011, the Company’s Board of Directors (the “Board”) authorized the repurchase of up to an aggregate amount of $5,000,000 of the Company’s common stock, of which approximately $551,000 remained available for repurchases as of December 31, 2013. Although the Company has remaining availability under a prior authorization, such authorization was at a time when the Company’s stock price and cash position were significantly different than where they were at December 31, 2013. As a result, management would probably seek a new authorization from the Board if the Company were to consider stock repurchases in the future. During the three months ended March 31, 2014 and 2013, the Company did not repurchase any shares of common stock.

The Company did not declare or distribute any dividends during the three months ended March 31, 2014 and 2013.