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Stock Options (Tables)

12 Months Ended

Dec. 31, 2023

Stock Options and Restricted Stock Units

Schedule of weighted-average fair value of the options granted, and weighted-average assumptions

​

​	​	​	​	​	​	​	​
​	​	For the Years Ended December 31,
​	​	2023		​	2022
​	​	​	​	​	​	​	​
Weighted average fair value of options granted		$	2.56		$	2.67	​
Risk-free interest rate		​	4.34	%		1.94% - 4.09	%
Expected term (years)		​	6.0	​		3-6.42	​
Expected volatility factor		​	75.35	%		62%-79	%
Expected dividends		​	None	​		None	​

Equity Plans

Stock Options and Restricted Stock Units

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, 2022		5,536,896	​	$	2.66		​	​	​	​
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
Granted*	​	25,000	​	​	3.31	​	​	​	​	​
Exercised	​	(1,287,462)	​	​	2.37	​	​	​	​	​
Forfeited/Expired	​	(88,866)	​	​	6.27	​	​	​	​	​
Outstanding at December 31, 2023		5,339,162	​	$	3.22		6.38	​	$	28,640,009
​	​	​	​	​	​	​	​	​	​	​
Exercisable at December 31, 2023		3,475,780	​	$	2.18		6.40	​	$	22,237,334
​	​	​	​	​	​	​	​	​	​	​
Vested and Expected to Vest at December 31, 2023		5,339,162	​	$	3.22		6.38	​	$	28,640,009

​

* Includes 25,000 stock options granted to a non-employee member of the Company’s advisory board.

​

​	​	​	​	​	​	​	​	​	​	​
​		​		​			Weighted-		​
​	​	​	​	Weighted -		​	Average	​	​
​	​	​	​	Average		​	Remaining	​	Aggregate
​	​	Number of	​	Exercise		​	Contractual	​	Intrinsic
​	​	Options	​	Price		​	Term (years)	​	Value
​	​	​	​	​	​	​	​	​	​	​
Outstanding at January 1, 2022		-	​	$	-		​	​	​	​
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	​	$	-
Granted		3,000	​		13.05		​	​	​	​
Exercised		(63,595)	​		4.59		​	​	​	​
Forfeited/Expired		(43,334)	​		3.41		​	​	​	​
Outstanding at December 31, 2023		923,571	​	$	3.41		8.76	​	$	4,786,252
​	​	​	​	​	​	​	​	​	​	​
Exercisable at December 31, 2023		386,209	​	$	3.34		8.74	​	$	2,023,601
​	​	​	​	​	​	​	​	​	​	​
Vested and Expected to Vest at December 31, 2023		923,571	​	$	3.41		8.76	​	$	4,786,252

Restricted Stock Units

Stock Options and Restricted Stock Units

Summary of restricted stock under the company's plan

​

​	​	​	​	​	​
​		​		Weighted-
​	​	Number of	​	Average
​	​	Restricted Stock	​	Grant Date
​	​	Units	​	Fair Value
​	​	​	​	​	​
Unvested at January 1, 2023	​	700,000	​	$	5.59
Granted	​	49,756	​	​	8.29
Vested		-		​	-
Forfeited/Expired		-		​	-
Unvested at December 31, 2023		749,756	​	$	5.77

​

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

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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