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Shareholders' Equity
 9 Months Ended
Sep. 30, 2020
Equity [Abstract]  
Shareholders' Equity

Shareholders’ Equity for the three months ended September 30, 2020:

 

(in thousands, except                              
Share amounts)                              
                               
    Common Stock Shares     Common Stock Amount     Additional Paid-in Capital     Accumulated Deficit     Total Shareholders’ Equity  
Balance at June 30, 2020     58,111,966       581     $ 70,415     $ (47,006 )   $ 23,990  
Stock option expense     -       -       72       -       72  
Purchase of shares for cancellation     (3,600 )     -       (1 )     -       (1 )
Net loss     -       -       -       (53 )     (53 )
Balance at September 30, 2020     58,108,366     $ 581     $ 70,486     $ (47,059 )   $ 24,008  

 

Shareholders’ Equity for the nine months ended September 30, 2020:

 

(in thousands, except                              
Share amounts)                              
                               
    Common Stock Shares     Common Stock Amount     Additional Paid-in Capital     Accumulated Deficit     Total Shareholders’ Equity  
Balance at December 31, 2019     58,133,066       581     $ 70,204     $ (46,654 )   $ 24,131  
Stock option expense     -       -       287       -       287  
Purchase of shares for cancellation     (24,700 )     -       (5 )     -       (5 )
Net loss     -       -       -       (405 )     (405 )
Balance at September 30, 2020     58,108,366     $ 581     $ 70,486     $ (47,059 )   $ 24,008  

 

Shareholders’ Equity for the three months ended September 30, 2019:

 

(in thousands, except                              
Share amounts)                              
                               
    Common Stock Shares     Common Stock Amount     Additional Paid-in Capital     Accumulated Deficit     Total Shareholders’ Equity  
Balance at June 30, 2019     58,138,266       581     $ 70,036     $ (44,808 )   $ 25,809  
Stock option expense     -       -       85       -       85  
Purchase of shares for cancellation     (2,900 )     -       (1 )     -       (1 )
Net loss     -       -       -       (1,480 )     (1,480 )
Balance at September 30, 2019     58,135,366     $ 581     $ 70,120     $ (46,288 )   $ 24,413  

 

Shareholders’ Equity for the nine months ended September 30, 2019:

 

(in thousands, except                              
Share amounts)                              
                               
    Common Stock Shares     Common Stock Amount     Additional Paid-in Capital     Accumulated Deficit     Total Shareholders’ Equity  
Balance at December 31, 2018     58,171,466       582     $ 69,873     $ (43,365 )   $ 27,090  
Stock option expense     -       -       258       -       258  
Purchase of shares for cancellation     (36,100 )     (1 )     (11 )     -       (12 )
Net loss     -       -       -       (2,923 )     (2,923 )
Balance at September 30, 2019     58,135,366     $ 581     $ 70,120     $ (46,288 )   $ 24,413  

 

Share Repurchase Program

 

On October 28, 2015, the Board of Directors approved a share repurchase program that authorized Solitario to purchase up to two million shares of its outstanding common stock. During 2019, the Board of Directors extended the expiration date of the share repurchase program through December 31, 2020. During the three and nine months ended September 30, 2020, Solitario purchased 3,600 and 24,700 shares of Solitario common stock, respectively, for an aggregate purchase price of $1,000 and $5,000, respectively. During the three and nine months ended September 30, 2019, Solitario purchased 2,900 and 36,100 shares of Solitario common stock, respectively, for an aggregate purchase price of $1,000 and $12,000, respectively. As of September 30, 2020, Solitario has purchased a total of 994,000 shares for an aggregate purchase price of $467,000 under the share repurchase program since its inception.