This excerpt taken from the IRIS 10-K filed Mar 14, 2008.
16. Subsequent Events
On February 8, 2008, the Company entered into an agreement to terminate our distributor agreement with our Puerto Rico distributor and transfer a contract to the Company for $250,000.
On March 3, 2008, the Company announced that the board of directors authorized a share repurchase of up to $15 million over a 12-month period. The purchases will be made with cash on hand.