NOTE 9 – Treasury Stock

On January 31, 2025, the Board of Directors of authorized the Chief Executive Officer to repurchase, from time to time, on the open market or otherwise, shares of common stock in such quantities, at such prices, in such manner and on such terms and conditions as he determines are in the best interests of the Company; provided, however, that the aggregate value of shares of common stock repurchased shall not exceed $1,000,000 and no shares of common stock shall be repurchased after 12 months. Pursuant to this approval, the Company repurchased a total of 200,400 shares of its common stock in 13 separate open market transactions during the month of April 2025, for an aggregate purchase price of approximately $500,000. The repurchases were funded using available cash on hand.

These transactions were not conducted under a formal share repurchase program and were solely authorized as a one-time action by the Board. The repurchased shares are recorded as treasury stock at cost and are presented as a reduction to stockholders’ equity in the accompanying condensed balance sheets as of June 30, 2025.