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Stock Repurchase Program
9 Months Ended
Sep. 30, 2017
Equity [Abstract]  
Stock Repurchase Program

NOTE 7 – STOCK REPURCHASE PROGRAM

 

On April 21, 2015, the Company announced that its Board of Directors authorized the repurchase of up to $2 million of the Company’s common stock from time to time through open market or privately negotiated transactions, based on prevailing market conditions. The Company is not obligated to repurchase any dollar amount or specific number of shares of common stock under the repurchase program, which may be suspended or discontinued at any time. As of September 30, 2017, the Company had purchased and retired 1,191,050 shares for $1.5 million under this program with no shares purchased in the three months ended September 30, 2017. The stock repurchase program was suspended on May 16, 2017.