RISK FACTORS.
−Removed: There have been no material changes from risk factors previously disclosed in our annual report on Form 10-K for the fiscal year ended December 31, 2022, as filed with the Securities and Exchange Commission on March 8, 2023.
+Added: There have been no material changes from risk factors previously disclosed in the 2022 Annual Report.
Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.
Recent Sales of Unregistered Securities
−Removed: We did not issue unregistered securities during the quarter ended March 31, 2023.
+Added: We did not issue unregistered securities during the quarter ended June 30, 2023.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
−Removed: On November 2, 2016, we announced that our Board of Directors authorized the repurchase of up to $1 million of our common shares from time to time on the open market, in block transactions, or in privately negotiated transactions.
−Removed: On January 9, 2018, the Board of Directors added an additional $2 million to the buyback plan.
−Removed: The program began on November 16, 2016 and ended on September 29, 2019.
−Removed: At September 29, 2019 when the program ended, $1,374,049 was available under the repurchase plan.
−Removed: On November 7, 2019, the Board of Directors approved the renewal of the share buy-back program.
−Removed: The Board approved a limit of $1,420,000 which was rolled over from the prior buy-back program with a three-year duration.
−Removed: On May 13, 2022, the Board of Directors authorized a renewal of the buy-back program, with a limit up to $4 million of the Company's common stock with a three year duration. The new buyback program terminates on the earliest of May 15, 2025, the date the funds are exhausted, or the date the Board of Directors, at its sole discretion, terminates or suspends the program.
−Removed: The program is used for the purchase of stock from employees and directors, and for open-market purchases through a broker.
−Removed: During the three months ended March 31, 2023, we made the following stock repurchases:
+Added: On November 2, 2016, we announced that our Board of Directors authorized the buyback program, pursuant to which the Company may repurchase up to $1 million in shares of our common stock from time to time in the open market, in block transactions, or in privately negotiated transactions.
+Added: On January 9, 2018, our Board of Directors added an additional $2 million to the buyback program.
+Added: The buyback program began on November 16, 2016 and ended on September 29, 2019.
+Added: At September 29, 2019 when the program ended, $1,374,049 was available under the buyback program.
+Added: On November 7, 2019, our Board of Directors approved the renewal of the buyback program.
+Added: The Board approved a limit of $1,420,000, which was rolled over from the buyback program prior to renewal, with a three-year duration.
+Added: On May 13, 2022, our Board of Directors authorized another renewal of the buyback program, with a limit equal to $4 million of the Company's common stock and a three year duration. The buyback program, as renewed most recently, terminates on the earliest of May 15, 2025, the date the funds are exhausted, or the date our Board of Directors, at its sole discretion, terminates or suspends the buyback program.
+Added: The buyback program is used for the repurchase of stock from employees and directors, and for open-market purchases through a broker.
+Added: During the three months ended June 30, 2023, we made the following stock repurchases:
(a) Total number of shares (or units) purchased
2 unchanged sentences
(d) Maximum number (or approximate dollar value) of shares (or units) that may yet be purchased under the plans or programs
−Removed: January 1 - January 31, 2023
−Removed: February 1 - February 28, 2023
−Removed: March 1 - March 31, 2023
+Added: April 1 - April 30, 2023
+Added: May 1 - May 31, 2023
+Added: June 1 - June 30, 2023
Defaults Upon Senior Securities.
2 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.