Annual report pursuant to Section 13 and 15(d)

COMMON STOCK

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COMMON STOCK
 12 Months Ended
Dec. 31, 2011
COMMON STOCK

NOTE 15.            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.