Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

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Stockholders' Equity
 3 Months Ended
Mar. 31, 2017
Equity [Abstract]  
Stockholders' Equity
Stockholders’ Equity
Common Stock, par value $0.001 per share
We are authorized to issue up to 9,000,000 shares of common stock. There were 4,686,473 and 4,746,047 shares of common stock issued and 4,683,473 and 4,740,947 shares outstanding on March 31, 2017 and December 31, 2016, respectively.
As of March 31, 2017, there were 346,000 shares of common stock reserved for issuance in connection with outstanding stock based awards and common stock to be granted to members of our board of directors, employees and third parties.
Dividend Declared, $0.01 per share
On January 24, 2017, our board of directors declared a dividend on our common stock in the amount of $0.01 per share of common stock to stockholders of record as of the close of business on February 7, 2017. The dividend was paid in cash on February 28, 2017 in the aggregate amount of $47,137.
Stock Repurchase Program
As of March 31, 2017, our board of directors had approved for repurchase an aggregate of $10,000,000 of our common stock.  Our board of directors did not establish an end date for this stock repurchase program.  Shares of common stock may be purchased from time to time on the open market, pursuant to pre-set trading plans meeting the requirements of Rule 10b5-1 under the Exchange Act, in privately negotiated transactions, including transactions with Liberty Media and its affiliates, or otherwise.  As of March 31, 2017, our cumulative repurchases since December 2012 under our stock repurchase program totaled 2,265,148 shares for $8,272,394, and $1,727,606 remained available under our stock repurchase program.
The following table summarizes our total share repurchase activity for the three months ended:
 
 
March 31, 2017
 
March 31, 2016
Share Repurchase Type
 
Shares
 
Amount
 
Shares
 
Amount
Open Market (a)
 
61,539

 
$
298,557

 
158,965

 
$
588,480

Total Repurchases
 
61,539

 
$
298,557

 
158,965

 
$
588,480

(a)
As of March 31, 2017, $15,488 of common stock repurchases had not settled, nor been retired, and were recorded as Treasury stock within our unaudited consolidated balance sheets and unaudited consolidated statements of stockholders’ (deficit) equity.
Preferred Stock, par value $0.001 per share
We are authorized to issue up to 50,000 shares of undesignated preferred stock with a liquidation preference of $0.001 per share.  There were no shares of preferred stock issued or outstanding as of March 31, 2017 and December 31, 2016.