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4. SHAREHOLDER'S EQUITY
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3 Months Ended |
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Jun. 30, 2013
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| Notes to Financial Statements | |
| SHAREHOLDER'S EQUITY |
Shareholder distributions
On October 24, 2011 the Company made an initial cash distribution of $1.04 per share to common stockholders of record on October 10, 2011 from the proceeds of the Sale. The total amount calculated for this distribution to common stockholders was $58,019,056.
On October 30, 2012 the Company declared and made a second cash distribution of $0.30 per share to common stockholder of record on October 15, 2012 following the completion of its post-closing obligations in connection with the Sale. The total amount distributed to common stockholders in connection with this second cash distribution was $16,736,266.
As of June 30, 2013, the amount paid from the first distribution was $51,346,433 with $6,672,623 payable, and the amount paid from the second distribution was $14,801,523 with $1,934,743 payable. These payables have been accrued and included in deferred consulting and distribution payments on the balance sheet. |
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- Details
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- Definition
The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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