Annual report pursuant to Section 13 and 15(d)

Stockholders' equity

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Stockholders' equity
12 Months Ended
Dec. 31, 2016
Equity [Abstract]  
Stockholders' equity
Note 6.  Stockholders' equity:

2016 Transactions:

On September 12, 2016, the Company issued an aggregate of 627,010 shares of common stock of the Company as consideration for the acquisition of the Preferred Stock of BDI, thereby making BDI a majority-owned subsidiary of the Company.  The issuance of the shares was effected as a private placement transaction. See Note 2.

Upon the completion of a special shareholders meeting on March 24, 2016, where such action was approved by shareholders, the Board of Directors authorized the Reverse Stock Split at a ratio of one-for-eight, whereby each eight shares of common stock were combined into one share of common stock.  The Reverse Stock Split was implemented and effective on March 31, 2016. All historical references to shares and share amounts in this report have been retroactively revised to reflect the Reverse Stock Split. 

2015 Transactions:

The Company had no equity offerings in 2015, as it focused on strategic alternatives.