Annual report pursuant to Section 13 and 15(d)

Note 5 - Capital Stock

v2.4.0.8
Note 5 - Capital Stock
 12 Months Ended
Dec. 29, 2013
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]

5.        Capital stock


Common shares   


Authorized share capital:   


The authorized share capital of the Company at December 29, 2013 and December 30, 2012 consisted of:


 

(i)

26,000,000 shares of common stock, par value $0.01 per share: Holders are entitled to one vote per share and the right to share in dividends pro rata subject to any preferential dividend rights of any then outstanding preferred stock.


 

(ii)

5,000,000 shares of special voting stock, par value $0.01 per share: From time to time the Company may issue special voting stock in one or more series and will fix the terms of that series at the time it is created.


Issued and outstanding:   


The outstanding number of common shares included in shareholders’ equity consisted of the following as at the following dates:


   

December 29, 2013

   

December 30, 2012

   

January 1, 2012

 
   

Number
of shares

    $    

Number
of shares

    $    

Number
of shares

    $  

Common Stock

                                               

Exchangeable shares:

                                               

Balance at beginning of the period

    —     $ —       554,748     $ 5,249       583,848     $ 5,524  

Shares issued pursuant to:

                                               

Conversion to common stock

    —       —       (554,748 )     (5,249 )     (29,100 )     (275 )
                                                 

Balance at end of the period

    —     $ —       —     $ —       554,748     $ 5,249  
                                                 

Common shares

                                               

Balance at beginning of the period

    16,344,193     $ 389       15,651,026     $ 382       15,329,732     $ 379  

Shares issued pursuant to:

                                               

Exercise of stock options

    73,063       1       138,419       1       292,194       3  

Conversion of exchangeable shares

    —       —       554,748       6       29,100       —  
                                                 

Balance at end of the period

    16,417,256     $ 390       16,344,193     $ 389       15,651,026     $ 382  
                                                 

Special voting stock

                                               

Balance at beginning of the period

    —     $ —       —     $ —       1     $ —  
                                                 

Balance at end of the period

    —     $ —       —     $ —       1     $ —  
                                                 

Total Common stock

          $ 390             $ 389             $ 5,631  

 Exchangeable shares:   


As At December 29, 2013, there were no outstanding exchangeable shares, and no exchangeable shares were converted to common shares during the period. During the periods ended December 30, 2012 and January 1, 2012, exchangeable shares of 554,748 and 29,100 with a carrying value of $5,249 and $275, respectively, were exchanged for common stock, with a carrying value of $6 and nil, respectively, with the difference recorded as additional paid-in capital. As at December 30, 2012, the special voting stock was cancelled once all outstanding exchangeable shares were redeemed.