Stockholders' Equity

9 Months Ended

Sep. 30, 2011

Stockholders Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

10.           Stockholders' Equity

The following table summarizes equity transactions during the nine months ended September 30, 2011.

	Series A Preferred Stock				Common Stock				Other Comprehensive			Accumulated			Total
	Shares		Amount		Shares		Amount		Income / (Loss)			Deficit			Equity
Balance, December 31, 2010		227,600	$	227,600		12,427,262	$	15,043,300	$	531,700		$	(14,438,500	)	$	1,364,100
Net Income		-		-		-		-		-			566,600			566,600
Stock issued to directors						183,871		57,000								57,000
Currency Translation Adjustment		-		-		-		-		(32,000	)		-			(32,000	)
Balance, September 30, 2011		227,600	$	227,600		12,611,133	$	15,100,300	$	499,700		$	(13,871,900	)	$	1,955,700

Preferred Stock

Ten million shares of preferred stock have been authorized, of which 227,600 are designated as Series A. Series A shareholders are entitled to receive cash dividends and/or liquidation proceeds equal, in the aggregate, to $1.00 per share before any cash dividends are paid on the common stock or any other series of preferred stock.  When the entire Series A dividend/liquidation proceeds have been paid, the Series A shares are automatically canceled and will cease to be outstanding.  Only a complete corporate dissolution will cause a liquidation preference to be paid.

Common Stock

On September 14, 2011, our Board of Directors approved the issuance of an aggregate of 183,871 shares of MBC's unregistered common stock valued at $57,000 to certain of MBC's independent non-employee directors in recognition of services provided to the board by such directors and as compensation pursuant to the terms of MBC's Directors' Compensation Plan, as amended, for their attendance at board and committee meetings held during 2009.  The independent non-employee directors attended an aggregate of 14 board meetings and 15 committee meetings during 2009. We believe that the issuance of the aforementioned shares is exempt from registration pursuant to Section 4(2) of the Securities Act of 1933, as amended, because of the limited numbers of recipients (five), the significant business experience and financial sophistication of each of the recipients and the intimate knowledge and familiarity with our business possessed by such directors.