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Stock Options (Tables)

12 Months Ended

Dec. 31, 2022

Stock Options

Schedule of weighted average assumptions

​

​	​	​	​	​	​	​	​
​	​	For the Years Ended December 31,
​	​	2022		​	2021
​	​	​	​	​	​	​	​
Weighted average fair value of options granted		$	2.67		$	3.73	​
Risk-free interest rate		​	1.94% - 4.09	%		0.22% - 0.82	%
Expected life (years)		​	3-6.42	​		3-6	​
Expected volatility factor		​	62%-79	%		58% - 68	%
Expected dividends		​	None	​		None	​

​

Schedule of stock-based compensation expense

The stock-based compensation expense related to the Company’s stock plans were allocated as follows (in thousands):

​

​	​	​	​	​	​	​
​	​	Year Ended December 31,
​		2022			2021
Direct operating costs	​	$	214	​	$	178
Selling and adminstrative expenses	​		3,069	​		1,572
Total stock-based compensation	​	$	3,283	​	$	1,750

​

Equity Plans

Stock Options

Schedule of stock option activity

​

​	​	​	​	​	​	​	​	​	​	​
​		​		​	​		Weighted-Average		​	​
​	​	​	​	Weighted -Average		​	Remaining	​	​	​
​	​	Number of	​	Exercise		​	Contractual Term	​	Aggregate
​	​	Options	​	Price		​	(years)	​	Intrinsic Value
Outstanding at January 1, 2021		5,906,884	​	$	1.61		6.86		​	89,405
Granted		1,226,300	​		6.84		​		​	​
Exercised		(1,556,288)	​		2.01		​		​	​
Forfeited/Expired		(40,000)	​		1.41		​		​	​
Outstanding at December 31, 2021	​	5,536,896	​	$	2.66	​	7.52	​	$	19,154,463
Granted*	​	1,774,558	​	​	4.91	​	​	​	​	​
Exercised	​	(248,763)	​	​	1.34	​	​	​	​	​
Forfeited/Expired	​	(372,201)	​	​	6.55	​	​	​	​	​
Outstanding at December 31, 2022		6,690,490	​	$	3.09		7.19	​	$	5,989,709
​	​	​	​	​	​	​	​	​	​	​
Exercisable at December 31, 2022		4,124,775	​	$	1.96		6.10	​	$	5,533,056
​	​	​	​	​	​	​	​	​	​	​
Vested and Expected to Vest at December 31, 2022		6,690,490	​	$	3.09		7.19	​	$	5,989,709

​

Schedule of stock-based compensation expense

​

​	​	​	​	​	​	​	​	​	​	​
​		​		​			Weighted-		​
​	​	​	​	Weighted -		​	Average	​	​
​	​	​	​	Average		​	Remaining	​	Aggregate
​	​	Number of	​	Exercise		​	Contractual	​	Intrinsic
​	​	Options	​	Price		​	Term (years)	​	Value
​	​	​	​	​	​	​	​	​	​	​
Outstanding at January 1, 2021		-	​	$	-		-		​	-
Granted		-	​		-				​
Exercised		-	​		-				​
Forfeited/Expired		-	​		-				​
Outstanding at December 31, 2021		-	​	$	-		-		​	-
Granted*		1,030,000	​		3.46				​
Exercised		—	​		-				​
Forfeited/Expired		(2,500)	​		3.41				​
Outstanding at December 31, 2022		1,027,500	​	$	3.46		9.75	​	$	-
​	​	​	​	​	​	​	​	​	​	​
Exercisable at December 31, 2022		18,750	​	$	5.40		9.52	​	$	-
​	​	​	​	​	​	​	​	​	​	​
Vested and Expected to Vest at December 31, 2022		1,027,500	​	$	3.46		9.75	​	$	-

​

*During the year ended December 31, 2022, the Company granted 132,000 stock options to non-employee directors of the Company which vest on the first anniversary of the date of grant. In addition, during the year ended December 31, 2022 the Company granted 50,000 stock options to non-employee members of the Company’s advisory board in lieu of cash compensation. The stock options vest in 12 monthly installments from the date of grant.

​

Restricted Stock

Stock Options

Summary of restricted stock under the Company's Plan

​

​	​	​	​	​	​
​		Number of		Weighted-Average
​	​	Restricted Stock	​	Grant Date Fair
​	​	Awards	​	Value
​	​	​	​	​	​
Outstanding January 1, 2021	​	50,000	​	​	​
Granted	​	-	​	​	​
Vested	​	(25,000)	​	​	​
Unvested at December 31, 2021	​	25,000	​	$	1.38
Granted	​	-	​	​	​
Vested		(25,000)		​	1.38
Forfeited/Expired		-		​	​
Unvested at December 31, 2022		-	​	$	-

​

Restricted Stock Units

Stock Options

Summary of restricted stock under the Company's Plan

​

​ ​	​	​	​	​	​
​		​		Weighted-
​	​	Number of	​	Average
​	​	Restricted Stock	​	Grant Date
​	​	Units	​	Fair Value
​	​	​	​	​	​
Outstanding January 1, 2021		-		​
Granted		-		​
Vested		-		​
Unvested at December 31, 2021		-		​
Granted*		700,000	​	$	5.59
Vested		-	​
Forfeited/Expired		-	​
Unvested at December 31, 2022		700,000	​	$	5.59

​

* 200,000 RSUs were issued under the 2013 Plan and 500,000 RSUs were issued under the 2021 Plan.

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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