Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity

v3.21.1
Stockholders' Equity
12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Stockholders' Equity

NOTE 15 – STOCKHOLDERS’ EQUITY

 

Preferred stock, $0.10 par value; 10,000,000 shares authorized; 0 and 0 shares issued and outstanding as of December 31, 2020 and 2019 respectively.

 

In March 2020, an executive left the Company and returned 16,667 common shares as part of the related separation agreement. The Company retired the shares and reduced its issued and outstanding stock by 16,667 shares.

 

In September 2020, a former executive who had the right to receive 166,667 shares of Common Stock per the terms of his separation agreement that was reached in September 2019, entered into an agreement with the Company to exchange the right to receive those 166,667 shares of Common Stock for the Company’s ownership interest in TGH (see Note 6 – Investments) and a warrant to purchase 66,666 shares of the Company’s Common Stock at $6.00 per share. The Company retired the shares and reduced its issued and outstanding stock by 166,667 shares.