Note 7 - Stockholders' Equity

6 Months Ended

Jun. 30, 2019

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

NOTE

7

– STOCKHOLDERS’ EQUITY

Stock and Warrant Repurchase Plan

The Company’s Board of Directors approved a stock and warrant repurchase plan (“Repurchase Plan”) in

November 2015

and increased the repurchase plan to

$35.0

million in

November 2016.

The Repurchase Plan authorizes the Company to purchase, from time to time, the Company’s outstanding common stock and warrants. Any shares and warrants purchased will be retired. The Repurchase Plan has

no

time deadline and will continue until otherwise modified or terminated at the sole discretion of the Company’s Board of Directors. These repurchases exclude shares repurchased to settle statutory employee tax withholding related to the exercise of stock options and vesting of stock awards. All repurchases were made using cash resources. During the

three

and

six

months ended

June 30, 2019,

the Company repurchased

1,895

 shares of common stock for approximately

$23,000

.

The Company has cumulatively repurchased

866,701

 shares of common stock for

$8.2

 million and

6,011,926

warrants for

$14.7

million, since plan inception. The balance for the Repurchase Plan was

$12.1

 million as of

June 30, 2019.

Warrants

During the

six

months ended

June 30, 2019,

2,600

warrants to purchase the Company's common stock were exercised. As of

June 30, 2019,

10,085,474

warrants were outstanding to purchase common stock at a price of

$11.50

per share. On

July 17, 2019,

the Company completed a consent solicitation and exchange offer relating to the Company’s outstanding warrants (see Note

13

– Subsequent Event for more information).