Attached files

file filename
EXCEL - IDEA: XBRL DOCUMENT - FORTUNE INDUSTRIES, INC.Financial_Report.xls
10-Q - FORM 10-Q - FORTUNE INDUSTRIES, INC.v332445_10q.htm
XML - IDEA: XBRL DOCUMENT - FORTUNE INDUSTRIES, INC.R8.htm
EX-32.2 - EXHIBIT 32.2 - FORTUNE INDUSTRIES, INC.v332445_ex32-2.htm
EX-31.1 - EXHIBIT 31.1 - FORTUNE INDUSTRIES, INC.v332445_ex31-1.htm
EX-32.1 - EXHIBIT 32.1 - FORTUNE INDUSTRIES, INC.v332445_ex32-1.htm
EX-31.2 - EXHIBIT 31.2 - FORTUNE INDUSTRIES, INC.v332445_ex31-2.htm
XML - IDEA: XBRL DOCUMENT - FORTUNE INDUSTRIES, INC.R5.htm
XML - IDEA: XBRL DOCUMENT - FORTUNE INDUSTRIES, INC.R6.htm
XML - IDEA: XBRL DOCUMENT - FORTUNE INDUSTRIES, INC.R7.htm
XML - IDEA: XBRL DOCUMENT - FORTUNE INDUSTRIES, INC.R1.htm
XML - IDEA: XBRL DOCUMENT - FORTUNE INDUSTRIES, INC.R4.htm
XML - IDEA: XBRL DOCUMENT - FORTUNE INDUSTRIES, INC.R2.htm
XML - IDEA: XBRL DOCUMENT - FORTUNE INDUSTRIES, INC.R10.htm
XML - IDEA: XBRL DOCUMENT - FORTUNE INDUSTRIES, INC.R13.htm
XML - IDEA: XBRL DOCUMENT - FORTUNE INDUSTRIES, INC.R12.htm
XML - IDEA: XBRL DOCUMENT - FORTUNE INDUSTRIES, INC.R14.htm
XML - IDEA: XBRL DOCUMENT - FORTUNE INDUSTRIES, INC.R11.htm
XML - IDEA: XBRL DOCUMENT - FORTUNE INDUSTRIES, INC.R3.htm
XML - IDEA: XBRL DOCUMENT - FORTUNE INDUSTRIES, INC.R15.htm
v2.4.0.6
SHAREHOLDERS' EQUITY
6 Months Ended
Dec. 31, 2012
Stockholders' Equity Note [Abstract]  
SHAREHOLDERS' EQUITY

NOTE 3- SHAREHOLDERS’ EQUITY

 

Common Stock

 

The Company did not issue any shares of common stock during the six month period ended December 31, 2012.

 

Preferred Stock

 

On September 25, 2009, the Company reached an agreement with the Chairman to amend the dividend rates on the Series C Preferred Stock with an effective date of July 1, 2009. From the effective date forward the Series C Preferred Stock will bear an annual dividend of $2 per share in the years ending June 30, 2010 and 2011, $5 per share in the year ending June 30, 2012, $6 per share in the year ending June 30, 2013 and $7 per share thereafter. All other items of the Series C Preferred Shares remained unchanged. Dividends of $814 and $678 were declared for the six months ended December 31, 2012 and December 31, 2011 respectively.

 

Effective December 31, 2010, the Company revised its estimate regarding the collectability of its $2,500 term note receivable with a related party. Based on this change in estimate, the Company reclassified the note receivable as a reduction to its outstanding preferred stock as prescribed by a Security Agreement between the Company and the related party. Under terms of this Security Agreement and in the event of default of the term note receivable, the Company obtains the right to equal value of the preferred stock as defined including but not limited to title, interest and dividends. As of December 31, 2012 and the date of this filing, the Company has no intention to convert the note receivable in the foreseeable future.