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Note 7. Preferred stock and common stock
 12 Months Ended
Dec. 31, 2014
Notes to Financial Statements  
Preferred stock and common stock

The Company paid cash dividends of $0 and $117,286, respectively, to holders of shares of common stock during the years ended December 31, 2014 and 2013.

 

There were no issuances of preferred stock during the years ended December 31, 2014 and 2013.  During the years ended December 31, 2014 and 2013, the Company had the following issuances of common stock in addition to stock issued pursuant to exercises of options to purchase common stock:

 

●   On April 2, 2012, the Company issued grants for a total of 95,000 restricted shares of the Company’s common stock (the “Awards”) to its executive officers and certain other employees.  The Awards vest over periods up to two years as stated in the Award Agreements, and therefore were fully vested on April 2, 2014. These Awards were not part of the 2010 Equity Incentive Plan.  The Company recognized compensation expense of $22,831 and $107,555 related to these shares during the year ended December 31, 2014 and 2013, respectively.

 

●   The Company issued 3,000 and 5,000 shares of common stock to a consultant in exchange for services during the years ended December 31, 2014 and 2013, respectively, and recognized expense of $26,775 and $31,150, respectively, for the value of the shares.

 

●   On October 29, 2014, the Company issued 15,385 shares of common stock as part of the acquisition of Accesswire (see Note 4).

 

●   On November 12, 2014, the Company issued 214,710 shares upon the partial conversion of a note payable (see Note 6).