Annual report pursuant to Section 13 and 15(d)

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2014

[1]

On April 14, 2014, the Company repurchased 10,456 shares of its common stock from its Executive Vice President and 31,784 shares of its common stock from a daughter of the Company’s Chief Financial Officer, each at a purchase price of $1.64 per share or an aggregate consideration of $69,274.

[2]

On August 16, 2013, the Company repurchased 15,112 shares of the Company’s common stock from a former director of the Company at a purchase price of $1.78 per share or aggregate consideration of $26,824.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details