6. Stockholders' Equity

3 Months Ended

Mar. 31, 2013

Notes to Financial Statements

NOTE 6 - Stockholders' Equity

The changes in consolidated stockholders’ equity for the three months ended March 31, 2013 are as follows:

	Common Stock Shares		Common Stock Amount		Additional Paid-In Capital		Accumulated Deficit			Total
Balance at December 31, 2012		13,545,482	$	8,127	$	24,604	$	(2,547	)	$	30,184
Common stock option exercise and issued		−		−		−		−			−
Share-based compensation Expense		−		−		31		−			31
Net income		−		−		−		405			405
Balance at March 31, 2013		13,545,482	$	8,127	$	24,635	$	(2,142	)	$	30,620

On March 8, 2013 the Company’s Board of Directors approved up to $2.5 million of share repurchases through December 31, 2013. The repurchases were authorized to be made from time to time through a variety of methods, including open market repurchases and privately negotiated transactions, and would be funded from available cash. There can be no assurance as to the amount, timing or prices of repurchases. The specific timing and amount of repurchases, if any, will vary based upon market conditions, share price and other factors. The repurchase program may be suspended, modified or terminated by the Board at any time. During the first quarter ended March 31, 2013 the Company did not repurchase any of its shares.