The paperwork says they issued 250,000 common shares for their employee stock program, yet I don't see the issuance (to whom?).
The outstanding number had been 2,750,411 for several years.
The Company adopted its 2005 Stock Purchase Plan (the “Stock Purchase Plan”) effective May 1,
2005. A total of 250,000 shares of Common Stock are reserved for issuance under the Stock Purchase Plan.
The Stock Purchase Plan allows employees and directors to purchase Common Stock at a discount of 15% to
the fair market price. The Company recognized $-0- in compensation expense for the years ended 2011 and
2010, respectively, for Common Stock purchases pursuant to the Stock Purchase Plan. As of June 30, 2011 and
2010, 250,000 shares have been issued under the Stock Purchase Plan.