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NOTE 12 - SHARE REPURCHASE PROGRAMS | 12 Months Ended
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Dec. 31, 2017
Note 12 - Share Repurchase Programs |
SHARE REPURCHASE PROGRAMS | On February 24, 2016, our Board of Directors approved a share repurchase program with provisions to buy back up to $1 million of our stock during the period from March 2, 2016 through March 31, 2017. The program was established with a 10b5-1 plan under the Exchange Act to provide flexibility to make purchases throughout the period. For the year ended December 31, 2016, 80,345 shares of stock have been repurchased at an average price of $2.36 for a total of $189,360 plus $1,649 in commissions and charges. There were no stock repurchases made under this program during the twelve month period ending December 31, 2017. There were no new stock repurchase programs in effect during the twelve month period ending December 31, 2017. The following is a summary of the stock repurchase program from March 2, 2016 through December 31, 2016:
Repurchases by Month |  | Total Number of Shares Purchased |  | Average Price Paid per Share |  | Total Number of Shares Purchased as Part of Publicly Announced Repurchase Program |  | Approximate Dollar Value of Shares that May Yet Be Purchased under the Program
| March 2016 |  |  |  | 42,515 |  |  | $ | 2.26 |  |  |  | 42,515 |  |  | $ | 903,161 |
| April 2016 |  |  |  | 8,480 |  |  | $ | 2.35 |  |  |  | 8,480 |  |  | $ | 883,064 |
| May 2016 |  |  |  | 7,650 |  |  | $ | 2.52 |  |  |  | 7,650 |  |  | $ | 863,602 |
| June 2016 |  |  |  | 15,200 |  |  | $ | 2.45 |  |  |  | 15,200 |  |  | $ | 826,078 |
| July 2016 |  |  |  | 6,500 |  |  | $ | 2.61 |  |  |  | 6,500 |  |  | $ | 808,991 |
| Total |  |  |  | 80,345 |  |  | $ | 2.36 |  |  |  | 80,345 |  |  |  |  |

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