NOTE 13 – SUBSEQUENT EVENTS

On November 1, 2022, Jack E. Stover notified the Company of his decision to resign from the Board effective immediately. On November 14, 2022, in accordance with the recommendation of the Company’s Nominating Committee, Robert Weinstein was appointed to serve a director of the Board and the Chairperson of the Audit Committee, with a term expiring at the Company’s annual meeting of shareholders or until his earlier death, resignation disqualification or removal.  

On November 14, 2022, the Board approved the employment of Mr. Joshua Silverman as the Interim Chief Executive Officer, Interim President and Interim Chairman of the Board on a month-to-month basis. Upon Mr. Silverman accepting employment he was no longer an independent director.

In December 2022, pursuant to the share repurchase program, the Company repurchased 800,362 shares at a total cost, including commissions of approximately $2,217,000. Subsequent to these transactions there remained approximately $2,307,000 available to purchase additional shares of the Company’s common stock.