Quarterly report pursuant to Section 13 or 15(d)

Note 5 - Capital Stock

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Note 5 - Capital Stock
 3 Months Ended
Mar. 31, 2013
Stockholders' Equity Note Disclosure [Text Block]
5.        Capital stock

Common shares

Authorized share capital:

The authorized share capital of the Company at March 31, 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 issued and outstanding number of common shares included in shareholders’ equity consisted of the following as of March 31, 2013:

   
Number
of shares
   
$
 
Common Stock
           
Common shares:
           
Balance at beginning and end of the three month period
    16,344,193     $ 389  
Special voting stock:
               
Balance at beginning and end of the three month period
    1     $ —  
Total Common stock
    16,344,194     $ 389  

Stock options

For information regarding the Company’s stock option arrangements, see Note 6 of the consolidated financial statements within the Company’s Form 10-K for the year ended December 31, 2012. There were no stock options granted during the three month period ended March 31, 2013. The Company generally issues new shares when options are exercised. A summary of stock option activity for the three month period ended March 31, 2013 is as follows:

   
Number
of options
   
Weighted
average
exercise
price
   
Aggregate
intrinsic
value
   
Weighted
average
remaining
contractual
term (years)
 
Outstanding at December 30, 2012
    1,400,807     $ 2.82              
Outstanding at March 31, 2013
    1,400,807     $ 2.82     $ 133       3.5  
Exercisable at March 31, 2013
    454,230     $ 2.39     $ 133       3.0  

During the three month periods ended March 31, 2013 and April 1, 2012, the Company recorded stock-based compensation expense and a corresponding increase in additional paid-in capital of $100 and $101, respectively.