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Note 16 - Subsequent Events | 12 Months Ended
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Dec. 31, 2014
Subsequent Events [Abstract] |
Subsequent Events [Text Block] | 16. Subsequent events: (a) On January 8, 2015, the Company announced that it successfully concluded a modified “Dutch auction tender offer” that was previously announced on December 8, 2014. Under the terms of the offer, the Company repurchased an aggregate of 193,907 shares of its common stock at a purchase price of $18.50 per share, for a total of $3,587,280, excluding transaction costs of approximately $60,000. The purchase price and all transaction costs were funded from available cash. All shares purchased in the tender offer received the same price and all shares repurchased were immediately retired. As a result of the completion of the tender offer, as of January 7, 2015, the Company had 11,135,825 shares issued and outstanding. (b) In January 2015, the Company borrowed $3.5 million under its Amended Credit Facility in order to fund the acquisition of a controlling ownership in Ting Virginia, LLC (see note 16(d)). This borrowing is subject to the terms and conditions described in note 8 to the Consolidated Financial Statements. See item (d) below. (c) On February 11, 2015, the Board of Directors approved a stock buyback program to repurchase up to $20 million of its common stock in the open market and privately negotiated transactions. Purchases will be made exclusively through the facilities of the NASDAQ Capital Market. The stock buyback program commenced on February 16, 2015 and will terminate on or before February 15, 2016. As of March 6, 2015, the Company has spent a total of $2.0 million to repurchase 108,605 shares under this stock buyback program, and therefore, the remaining repurchase authorization is $18.0 million. All shares purchased by Tucows under the stock buyback program will be retired and returned to treasury. (d) On February 24, 2015, Ting Fiber, Inc., one of the Company’s wholly owned subsidiaries, acquired a controlling ownership interest in the newly formed Ting Virginia, LLC and its acquired subsidiaries, Blue Ridge Websoft LLC (doing business as Blue Ridge InternetWorks), Fiber Roads, LLC and Navigator Network Services, LLC (the BRI Group) for a consideration of approximately $3.6 million. Ting Virginia, LLC is an independent Internet service provider in Charlottesville, Virginia, doing business primarily as Blue Ridge InternetWorks. The BRI Group provides high speed internet access, Internet hosting and network consulting services to over 3,000 customers in central Virginia. Tucows will satisfy the purchase price through an advance under its 2012 DLR Loan facility. (e) In February 2015, the Company waived our rights under the proposed joint venture to operate the .online registry and instead entered into a Joint Marketing agreement with our venture partners under which our original capital contributions have been returned and a set of go-forward marketing arrangements have been created instead. These marketing arrangements have resulted in a positive financial contribution for us, which will be recognized once all the terms of the contract have been satisfied, commencing in the three months ending March 31, 2015.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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