v3.22.2.2
STOCKHOLDERS’ EQUITY
Sep. 30, 2022
Equity [Abstract]  
STOCKHOLDERS’ EQUITY

NOTE 15. STOCKHOLDERS’ EQUITY

 

Cancellation of Restricted Stock

 

During the nine months ended September 30, 2022, the Company cancelled 65,000 restricted shares of common stock due to forfeiture reasons.

 

Stock Repurchase Program

 

On December 6, 2021, the board of directors of the Company authorized the repurchase of up to $10.0 million of the Company’s outstanding common stock under the specified terms of a share repurchase program (the “Program”). During the nine months ended September 30, 2022, the Company repurchased 3,725,986 shares of its common stock for $4,026,523, in accordance with the Program.

 SCHEDULE OF STOCK REPURCHASE

Period  Total
Number of
Shares
Purchased		   Average
Price
Paid per
Shares		   Total
Number of
Shares
Purchased as
Part of
Publicly
Announced
Program		   Maximum
Approximate
Dollar Value
of
Shares that
May Yet Be
Purchased
Under the
Program		 
December 2021   1,734,838   $1.14    1,734,838    — 
January 2022   697,093    1.11    697,093    — 
February 2022   692,984    1.12    692,984    — 
March 2022   485,957    1.06    485,957    — 
April 2022   595,476    1.14    595,476    — 
May 2022   716,911    1.08    716,911    — 
June 2022   537,565    0.96    537,565    — 
Total all plans   5,460,824   $1.10    5,460,824   $3,998,398 

 

On June 30, 2022, the board of directors of the Company elected to terminate the Program, effective immediately. The Program began in December 2021, with the Company purchasing a total of 5,460,824 shares at a cost of $6,001,602 through June 30, 2022.

 

Noncontrolling Interests

 

The Company owns a 51% equity interest in its consolidated subsidiary, Nobility Healthcare. As a result, the noncontrolling shareholders or minority interest is allocated 49% of the income/loss of Nobility Healthcare which is reflected in the statement of (income) loss as “net (income) loss attributable to noncontrolling interests of consolidated subsidiary”. We reported net loss attributable to noncontrolling interests of consolidated subsidiary of $16,596 and a net loss of $19,863 for the three months ended September 30, 2022 and 2021, and a net income of $268,636 and a net loss of $19,863 for the nine months ended September 30, 2022 and 2021, respectively.