XML 38 R16.htm IDEA: XBRL DOCUMENT v3.3.0.814
11. SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2015
Subsequent Events [Abstract]  
NOTE 11. SUBSEQUENT EVENTS

Subsequent events are events or transactions that occur after the balance sheet date but before financial statements are issued.  The Company recognizes in the financial statements the effects of all subsequent events that provide additional evidence about conditions that existed at the date of the balance sheet, including the estimates inherent in the process of preparing the financial statements.  The Company’s financial statements do not recognize subsequent events that provide evidence about conditions that did not exist at the date of the balance sheet but arose after the balance sheet date and before financial statements are issued.

 

In October of 2015, the Company applied to the NASDAQ stock exchange to list its newly issued preferred stock.  That application was approved and the preferred stock began listing, under the trading symbol of WVVIP, on November 2, 2015.

 

In November of 2015 the Board of Directors approved a program to repurchase common stock of the Company.  Under previous board actions the Company had maintained stock repurchase programs which resulted in 149,899 shares of common stock repurchased for $675,127.  Under the November 2015 board action, the Company funded a plan to repurchase up to $250,000 of common stock through the open market.  This plan is intended to remain in place until all funding for the plan is depleted or the plan is expanded or terminated by the Board of Directors.