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Shareholders Equity and Accumulated Other Comprehensive Income

3 Months Ended

Mar. 31, 2016

Shareholders Equity and Accumulated Other Comprehensive Income

10. Shareholders’ Equity and Accumulated Other Comprehensive Income

(in thousands, except					Accumulated
Share amounts)	Common	Common	Additional		Other	Total
	Stock	Stock	Paid-in	Accumulated	Comprehensive	Shareholders’
	Shares	Amount	Capital	Deficit	Income	Equity
Balance at December 31, 2015	39,169,189	$392	$55,063	$(37,691)	$111	$17,875

Stock option expense	-	-	2	-	-	2
Purchase of shares for cancellation	(174,000)	(2)	(81)	-	-	(83)
Net loss	-	-	-	(481)	-	(489)
Net unrealized gain on marketable equity securities	-	-	-	-	107	107
Balance at March 31, 2016	38,995,189	$390	$54,984	$(38,180)	$218	$17,412

Share Repurchase Program

On October 28, 2015, our Board of Directors approved a share repurchase program that authorizes us to purchase up to two million shares of our outstanding common stock through December 31, 2016. During the three months ended March 31, 2016, we purchased 174,000 shares of our common stock for an aggregate purchase price of $83,000.