Item 8.01 Other Events.
On August 20, 2009, we issued a press release announcing that our
board of directors has authorized the repurchase of up to an
additional $10 million of our securities under our previously
announced securities repurchase program. Under the program, the
company may repurchase its common stock and its 11.25% Convertible
Notes due 2023 from time to time. The company anticipates that it
will fully utilize the $5.5 million that remained available at the end
of the second quarter of 2009 under the securities repurchase program
during the third quarter, thus necessitating the additional funds.
The repurchase authorization does not have an expiration date and the
pace of repurchase activity will depend on factors such as working
capital needs, the price of our securities and economic and market
conditions. The securities repurchase program may be accelerated,
suspended, delayed or discontinued at any time.
The press release is furnished herewith as Exhibit 99.1 and is
incorporated herein by reference.