Item 5. Market for Registrant’s Common Equity
ITEM 5.
MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Our common stock trades on the OTC Link (previously “Pink Sheets”) operated by OTC Markets Group under the symbol “TLFA.”
There were approximately 289 stockholders of record on August 30, 2021.
We did not sell any shares of our equity securities during our fiscal year ended December 31, 2020 that were not registered under the Securities Act.
Our Board of Directors did not authorize any dividends during the fiscal years ended December 31, 2020 or 2019. Our Board of Directors may consider future cash dividends after giving consideration to our
profitability, cash flow, capital requirements, current and forecasted liquidity, as well as financial and other business conditions existing at the time. This policy is subject to change based on future industry and market conditions, as well as
other factors.
The following table summarizes repurchases of our common stock occurring in fourth quarter 2020:
Period (2)
(a) Total
number of shares purchased
(b) Average
price paid per share
(c) Total number of shares purchased as part of publicly announced plans or programs
(d) Dollar value of
shares that may yet be
purchased under the
plans or programs (1)
October 1 – October 31, 2020
-
$
-
-
$
5,000,000
December 1 – December 31, 2020
-
$
-
-
$
5,000,000
Total
-
$
-
-
(1) Represents shares which may be purchased through our stock repurchase program, announced on August 9, 2020, permitting us to repurchase up to $5 million value of shares of our common stock on or prior to July 31, 2022.
(2) The Company suspended repurchasing any shares under its program beginning in July 2019, because of the lack of publicly-available financial information of the Company during this period. Management expects to resume the Company’s
repurchase program (as conditions allow) following completion of our financial restatement and making all outstanding periodic filings with the SEC.
ITEM 6.
SELECTED FINANCIAL DATA
We are a smaller reporting company as defined in Item 10(f)(1) of SEC Regulation S-K and are not required to provide information under this item. However, see Note 12, Quarterly
Financial Data (Unaudited) of the Notes to the Consolidated Financial Statements included in Item 8, Financial Statements and Supplementary Data of this Form 10-K, which provides unaudited quarterly condensed results of operations for the
two years ended December 31, 2020.
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