XML 21 R13.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Stock Dividend
6 Months Ended
Jun. 30, 2011
Stock Dividend  
Stock Dividend

Note 5 – Stock Dividend

On May 18, 2010, the Board of Directors of the Company declared a 10% stock dividend. The stock dividend was paid on July 23, 2010 to shareholders of record as of June 21, 2010. Following the stock dividend, the number of outstanding shares increased by approximately 299,000.The dividend required a reclassification of retained earnings effective May 18, 2010 in the amount of $2,550,000.Of this amount, $640,000 was reclassified as common stock and $1,910,000 was reclassified as additional paid-in-capital. The reclassification did not change total stockholders' equity. All per share amounts have been retroactively adjusted to reflect this dividend. No other stock dividend and/or split has been declared since this time.