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Shareholders' Equity
 6 Months Ended
Jun. 30, 2016
Shareholders’ Equity [Abstract]  
Shareholder's Equity

4. Shareholders’ Equity

Through June 30, 2016, the Company had announced authorizations by its Board of Directors of repurchases of shares of common stock, which in the aggregate authorized expenditures of up to $2,000,000.  Under the remaining repurchase authorization, shares may be purchased from time to time in open market transactions, subject to market conditions.

During the six months ended June 30, 2016, the Company repurchased 1,469 shares of common stock under authorized programs, for a total cost of $676,934. The cumulative shares repurchased under authorized programs as of June 30, 2016 were 6,521 for a total cost of $1,860,862. As of June 30, 2016, $139,504 was available to repurchase shares under the announced repurchase authorizations. The shares are being held in treasury stock until such time as they are reissued or retired at the discretion of the Board of Directors.