What changed in this filing

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Item 5. Market for Registrant’s Common Equity

2025-06-27 compared with 2024-06-27 · 30 added, 31 removed, 61 unchanged (50% of the section changed)

MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED

STOCKHOLDER MATTERS AND ISSUER

PURCHASES OF EQUITY SECURITIES

MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

September 2003, our common stock began trading on the NYSE American, formerly the American Stock Exchange and more recently the NYSE

19 unchanged sentences

Of these issued shares, 193,283 are held in the treasury.

of March 31, 2023, the Company had never paid a cash dividend to the Company’s shareholders.

Payment of dividends are at the discretion

of our Board of Directors after taking into account many factors, including our financial condition, operating results, current and anticipated

cash needs and plans for expansion.

In addition, our current bank loan prohibits us from paying cash dividends on our common stock without

written permission.

April 10, 2023, the Company announced that its Board of Directors declared a special dividend of $0.10 per common share to its shareholders

31, 2025, there were 2,046,000 shares outstanding.

to March 31, 2023, the Company had never paid a cash dividend to the Company’s shareholders.

Payment of dividends is at the discretion

of our Board of Directors (the “Board”) after considering many factors, including our financial condition, operating results,

current and anticipated cash needs, and plans for expansion.

In addition, our current bank loan prohibits us from paying cash dividends

on our common stock without written permission.

April 30, 2024, the Company announced that its Board declared a regular annual dividend of $0.10 per common share to its shareholders

of record at the close of business on May 21, 2024.

The dividend was paid on June 4, 2024.

The Company obtained written permission from

West Texas National Bank (“WTNB”) prior to declaring the regular annual dividend.

On April 10, 2023, the Company announced

that its Board declared a special dividend of $0.10 per common share to its shareholders of record at the close of business on May 1,

The special dividend was paid on May 15, 2023.

The Company obtained written permission

from WTNB prior to declaring the special dividend.

Company can provide no assurance that dividends will be authorized or declared in the future or as to the amount or type of any future

Our board of directors’ determination with respect to any such dividends, including the record date, the payment date

and the actual amount of the dividend, will depend upon our profitability and financial condition, contractual restrictions, restrictions

imposed by applicable law and other factors that the board deems relevant at the time of such determination.

The Company obtained written permission from WTNB prior to declaring the special

Subsequently,

on April 30, 2024, the Company announced that its Board of Directors declared a regular annual dividend of $0.10 per common share to its shareholders

of record at the close of business on May 21, 2024.

on May 13, 2025, the Company announced that its Board declared a regular annual dividend of $0.10 per common share to its shareholders

of record at the close of business on June 2, 2025.

The dividend was paid on June 16, 2025.

1 unchanged sentence

WTNB prior to declaring the regular annual dividend.

Company can provide no assurance that dividends will be authorized or declared in the future or as to the amount or type of any future

Our Board determination with respect to any such dividends, including the record date, the payment date and the actual amount

of the dividend, will depend upon our profitability and financial condition, contractual restrictions, restrictions imposed by applicable

law and other factors that the board deems relevant at the time of such determination.

Authorized for Issuance Under Compensation Plans

5 unchanged sentences

Number of Shares Remaining Available for Future Issuance under Plan

March 2023, the Board of Directors authorized the use of up to $1,000,000 to repurchase shares of the Company’s common stock for

the treasury account.

April 2024, the Board authorized the use of up to $1,000,000 to repurchase shares of the Company’s common stock for the treasury

This program does not have an expiration date and may be modified, suspended or terminated at any time by the Board.

Under the repurchase program, share of common stock may be purchased from time to time through open market purchases or other transactions.

The amount and timing of repurchases will be subject to the availability of stock, prevailing market conditions, the trading price of

stock, our financial performance and other conditions.

Repurchases may also be made from time-to-time in connection with the settlement

of our share-based compensation awards.

repurchase program, share of common stock may be purchased from time to time through open market purchases or other transactions.

amount and timing of repurchases will be subject to the availability of stock, prevailing market conditions, the trading price of stock,

our financial performance and other conditions.

Repurchases may also be made from time-to-time in connection with the settlement of our

share-based compensation awards.

Repurchases will be funded from cash flow.

4 unchanged sentences

Approximate Dollar Value of Shares that May Yet be Purchased Under the Program

April 1-30, 2024

May 1-31, 2024

June 1-30, 2024

July 1-30, 2024

11 unchanged sentences

aggregate cost of $585,035, an average price of $11.68 per share.

Subsequently,

in April 2024, the Company’s Board of Directors authorized the use of up to $1,000,000 to repurchase shares of the Company’s

common stock, par value, $0.50, for the treasury account.

This authorization replaced the previously authorized $1,000,000 common stock

repurchase program which had $414,965 remaining at the time it was replaced.

in April 2024, the Company repurchased 13,766 shares for the treasury account at an aggregate cost of $188,637, an average price of $13.70

August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 (“IRA 2022”).

6 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 5. Market for Registrant’s Common Equity