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Shareholders' Equity
3 Months Ended
Jun. 30, 2013
Shareholders' Equity

NOTE 3 — SHAREHOLDERS’ EQUITY

Outstanding capital stock at June 30, 2013 consisted of common stock and Series A convertible preferred stock. The Series A convertible preferred stock is non-voting, has no dividend preferences and has not been convertible since March 31, 2002; however, it retains a liquidation preference.

At June 30, 2013, the Company had approximately 50,000 options outstanding with exercise prices ranging from $3.07 to $3.19.