Annual report pursuant to Section 13 and 15(d)

COMMON STOCK

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COMMON STOCK
 12 Months Ended
Dec. 31, 2012
Equity [Abstract]  
COMMON STOCK
NOTE 14. COMMON STOCK

 

During 2011, the Company completed private placements of 340,000 shares of common stock. The shares were issued and sold at $30 per share to 105 accredited investors, of which approximately 33,900 shares were purchased by directors, officers and their families, and 20 non-accredited investors. This sale of stock resulted in net proceeds of $10,159,000. This includes stock offering expenses of $33,000.