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SHARE REPURCHASE PROGRAM
 3 Months Ended
Sep. 30, 2016
Stockholders' Equity Note [Abstract]  
SHARE REPURCHASE PROGRAM

NOTE 11. SHARE REPURCHASE PROGRAM

 

In September, 2013 our Board approved a share repurchase program authorizing the Company to repurchase up to 750,000 shares of our common stock. In accordance with, and as part of this share repurchase program, our Board approved, on March 22, 2016, the adoption of second prearranged share repurchase plan intended to qualify for the safe harbor Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (“10b5-1 Plan” or “Plan”). The Plan became effective on March 23, 2016 and terminated on July 6, 2016 in accordance with its provisions. During the quarter ended September 30, 2016, we repurchased 9,107 shares at an aggregate cost of $49,000, inclusive of fees. On a cumulative basis we have repurchased a total of 178,568 shares at an aggregate cost of $658,000. All repurchases under all 10b5-1 Plans were administered through an independent broker.