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9. Capital Transactions:
9 Months Ended
Sep. 30, 2015
Notes to Financial Statements  
9. Capital Transactions:

On January 22, 2008, the Board of Directors of the Company authorized a buy-back of up to 300,000 shares of common stock. Shares will be purchased from time to time, at management’s discretion, in the open market and in private transactions. During the nine months ended September 30, 2015, there were no shares purchased and 170,863 shares may be purchased under the plan as of September 30, 2015.

 

At September 30, 2015, there are 265,000 outstanding options at a weighted average exercise price of $3.02, which were fully vested and exercisable. As of September 30, 2015, there was no unrecognized compensation cost.