Note 5.  Common Stock and Stock Options

Stock based compensation cost for all stock awards is based on the grant date fair value and recognized over the required service (vesting) period. There was no stock based compensation for the three months ended September 30, 2026 or the same period in 2025.

Employees received compensation of 16,596 and 10,852 aggregate shares of common stock of the Company during the nine months ended September 30, 2026 and 2025, respectively. The shares granted in the first nine months of 2026 had an aggregate value of $87,129 compared to $47,206 for the same period in 2025. These amounts were recorded as non-cash stock compensation expense in the financial statements for the nine months ended September 30, 2026 and 2025, respectively.

Employee Stock Options

There were no stock options remaining as of September 30, 2026 or December 31, 2025.

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Treasury Stock

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The Company’s Board of Directors has authorized a share repurchase program of up to $1,000,000 of the Company’s common stock, which expires on November 30, 2026. During the nine months ended September 30, 2026, the Company repurchased 50,000 shares of its common stock at an aggregate cost of $267,500 (an average price of $5.35 per share). No shares were repurchased during the three months ended September 30, 2026. As of September 30, 2026, the Company held 150,000 shares of treasury stock at a cost of $767,500, and $232,500 remained available for repurchase under the program.

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