Stockholders' Equity

12 Months Ended

Dec. 31, 2014

Equity [Abstract]

Stockholders' Equity

15. Stockholders’ Equity

Preferred Stock

Ten million shares of no par preferred stock have been authorized, of which 227,600 shares, designated as Series A, are issued and outstanding. 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

Thirty million shares of no par common stock have been authorized, of which 12,611,133 shares are issued and outstanding.