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12. TREASURY STOCK
12 Months Ended
Dec. 31, 2015
Equity [Abstract]  
12.TREASURY STOCK

In December 2014, the Company repurchased 53,550 shares of common stock of the Company at an average price of $1.15 per share for a total cost of $61,728 under the approval of the Board of Directors. The Company recorded the entire purchase price of the treasury stock as a reduction of equity.

 

In January 2015, the Company repurchased 31,000 shares of common stock of the Company at an average price of $1.22 per share for a total cost of $37,713 under the approval of the Board of Directors. The Company recorded the entire purchase price of the treasury stock as a reduction of equity.