This excerpt taken from the PZZI 10-Q filed May 13, 2009.
Item 1A. Risk Factors
Not applicable to smaller reporting company.
Item 2. Unregistered Sales of Equity Securities and the Use of Proceeds
On May 23, 2007, the board of directors of the Company approved a stock purchase plan (the “2007 Stock Purchase Plan”) authorizing the purchase of up to 1,016,000 shares of the Company’s common stock in the open market or in privately negotiated transactions. On June 2, 2008, the Company’s board of directors amended the 2007 Stock Purchase Plan to increase the number of shares the Company may repurchase by 1,000,000 shares to a total of 2,016,000 shares. On April 22, 2009, the board of directors further amended the 2007 Stock Purchase Plan by increasing the aggregate number of shares the Company may repurchase by 1,000,000 shares to a total of 3,016,000 shares. The 2007 Stock Purchase Plan does not have an expiration date. The following table furnishes information for purchases made pursuant to the 2007 Stock Purchase Plan during the third quarter of fiscal 2009:
ISSUER PURCHASES OF EQUITY SECURITIES
* does not include shares authorized on April 22, 2009
The Company’s ability to purchase shares of its common stock is subject to various laws, regulations and policies as well as the rules and regulations of the SEC. Subsequent to March 29, 2009, the Company has purchased an additional 257,100 shares at an average price of $1.20 per share.