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Shareholders' Equity

6 Months Ended

Jun. 30, 2021

Equity:

12. Shareholders' Equity

12. Shareholders’ Equity

Shareholders’ Equity for the six months ended June 30, 2021:

(in thousands, except Share amounts)		Common				Common				Additional								Total
		Stock				Stock				Paid-in				Accumulated				Shareholders’
		Shares				Amount				Capital				Deficit				Equity
Balance at December 31, 2020			58,108,366				581			$	70,514			$	(47,593	)		$	23,502
Stock option expense			-				-				72				-				72
Issuance of shares – ATM, net			150,400				2				31				-				33
Issuance of shares - option exercises			185,000				1				82				-				83
Net loss			-				-				-				(1,196	)			(1,196	)
Balance at June 30, 2021			58,443,766			$	584			$	70,699			$	(48,789	)		$	22,494

Shareholders’ Equity for the six months ended June 30, 2021:

(in thousands, except Share amounts)		Common				Common				Additional								Total
		Stock				Stock				Paid-in				Accumulated				Shareholders’
		Shares				Amount				Capital				Deficit				Equity
Balance at December 31, 2019			58,133,066				581			$	70,204			$	(46,654	)		$	24,131
Stock option expense			-				-				215				-				215
Purchase of shares for cancellation			(21,100	)			-				(4	)			-				(4	)
Net loss			-				-				-				(352	)			(352	)
Balance at June 30, 2020			58,111,966			$	581			$	70,415			$	(47,006	)		$	23,990

At the Market Offering Agreement

On February 2, 2021, Solitario entered into an at-the-market offering agreement (the “ATM Agreement”) with H. C. Wainwright & Co., LLC (“Wainwright”), under which Solitario may, from time to time, issue and sell shares of Solitario’s common stock through Wainwright as sales manager in an at-the-market offering under a prospectus supplement for aggregate sales proceeds of up to $9.0 million (the “ATM Program”). The common stock will be distributed at the market prices prevailing at the time of sale. As a result, prices of the common stock sold under the ATM Program may vary as between purchasers and during the period of distribution. The ATM Agreement provides that Wainwright is entitled to compensation for its services at a commission rate of 3.0% of the gross sales price per share of common stock sold. During the six months ended June 30, 2021, Solitario recorded $144,000 as a charge to additional paid-in-capital for one-time expenses related to entering into the ATM Agreement.

During the six months ended June 30, 2021, Solitario sold an aggregate of 150,400 shares of common stock under the ATM Program at an average price of $1.21 per share for net proceeds of $177,000 after commissions and sale expenses.

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 2020, the Board of Directors extended the expiration date of the share repurchase program through December 31, 2021. Solitario did not purchase any shares under the share repurchase plan during the three and six months ended June 30, 2021. During the three and six months ended June 30, 2020, Solitario purchased 4,400 and 21,100 shares of Solitario common stock, respectively, for an aggregate purchase price of $1,000 and $4,000, respectively. As of June 30, 2021, 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.

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- References

No definition available.

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- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

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