Note 7. Equity

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Equity

Dividends

During the years ended December 31, 2016 and 2015, we paid dividends totaling $452,724, or $0.16 per share, and $83,101, or $0.03 per share, respectively, to holders of shares of common stock. 

Preferred stock and common stock

There were no issuances of preferred stock during the years ended December 31, 2016 and 2015.  During the year ended December 31, 2015, the Company had the following issuances of common stock in addition to stock issued pursuant to exercises of restricted stock units and options to purchase common stock:

● The Company issued 8,000 shares of common stock to consultants in exchange for services during the year ended December 31, 2015, and recognized expense of $63,686 for the value of those shares.  No shares were issued in exchange for services during the year ended December 31, 2016.

● On November 12, 2014, the Company issued 214,710 shares upon the partial conversion of a note payable and on August 22, 2015 issued another 417,712 shares on upon the final conversion of the note payable (see Note 6).