Where Food Comes From Inc
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
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Unregistered Sales of Equity Securities and Use of Proceeds
ITEM 2. ISSUER PURCHASES OF EQUITY SECURITIES
Issuer Purchases of Equity Securities
On September 30, 2019, our Board of Directors approved a new plan to buyback up to 2.5 million additional shares of our common stock from the open market (“Stock Buyback Plan”). Activity for the three months ended March 31, 2024 is as follows:
| Number of Shares | Cost of Shares (in thousands) | Average Cost per Share | |
|---|---|---|---|
| Shares purchased - January 2024 | 10,433 | $144 | $13.77 |
| Shares purchased - February 2024 | 9,938 | $136 | $13.68 |
| Shares purchased - March 2024 | 15,500 | $189 | $12.16 |
| Total | 35,871 | $469 |
Private Purchase of Common Shares
During March 2024, the Company purchased 80,201 shares of its common stock from one shareholder for approximately $1.0 million. The purchase was limited to this single shareholder who approached the company; it was privately negotiated and involved no solicitation or advertising. No fees were paid in connection with the transaction, as it was a non-brokered placement. The shares were immediately retired upon purchase.
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