PRSS 2017 Annual Report

28 PART II ITEM 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Market for our common equity After the pricing of our initial public offering on March 29, 2012, our common stock has traded on the NASDAQ Global Select Market under the symbol “PRSS.” Prior to that date, there was no public market for our common stock. The following table sets forth the high and low closing sale prices of our common stock as reported by NASDAQ for the periods indicated: Fiscal Year 2017 High Low First Quarter $ 3.49 $ 2.91 Second Quarter $ 2.98 $ 2.43 Third Quarter $ 2.52 $ 1.75 Fourth Quarter $ 2.15 $ 1.74 Fiscal Year 2016 High Low First Quarter $ 3.99 $ 3.11 Second Quarter $ 3.83 $ 2.97 Third Quarter $ 3.32 $ 2.90 Fourth Quarter $ 3.18 $ 2.80 On February 21, 2018, the last sale price for our common stock on NASDAQ was $1.51 per share. Stockholders As of February 21, 2018, according to the records of our transfer agent, there were approximately 69 registered holders of our Common Stock excluding stockholders whose shares were held in nominee or street name by brokers. Dividends We have never declared or paid any cash dividends on shares of our capital stock. Our Board of Directors will determine whether to declare any future dividends, if any, in its discretion subject to applicable laws. Any such determination will depend on our financial condition, results of operations, capital requirements, bank covenants, general business conditions and any other factors our Board of Directors may deem relevant. Securities authorized for issuance under equity compensation plans Information regarding the securities authorized for issuance under our equity compensation plans can be found under Item 12 of this Annual Report on Form 10-K. Unregistered sales of equity securities None.