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Commitments and Contingencies (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Commitments and Contingencies [Abstract]    
Schedule of Board of Directors Approved the Director’s Compensation Program

On October 31, 2024, the Company’s Board of Directors approved the director’s compensation program, as follows:

Element

 

Amount

Annual equity award

 

$

160,000

Annual board cash retainer

 

$

60,000

Annual Audit Committee Member Retainer

 

$

10,000

Annual Compensation Committee Member retainer

 

$

7,500

Annual Nominating/Governance Committee Member Retainer

 

$

7,500

Annual Board Chair Additional retainer

 

$

40,000

Annual Audit Chair Additional retainer

 

$

20,000

Annual Compensation Chair Additional retainer

 

$

15,000

Annual Nominating/Governance Chair Additional retainer

 

$

15,000

On October 31, 2024, the Company’s Board of Directors approved the director’s compensation program, as follows:

Element

 

Amount

Annual equity award

 

$

160,000

Annual board cash retainer

 

$

60,000

Annual Audit Committee Member Retainer

 

$

10,000

Annual Compensation Committee Member retainer

 

$

7,500

Annual Nominating/Governance Committee Member Retainer

 

$

7,500

Annual Board Chair Additional retainer

 

$

40,000

Annual Audit Chair Additional retainer

 

$

20,000

Annual Compensation Chair Additional retainer

 

$

15,000

Annual Nominating/Governance Chair Additional retainer

 

$

15,000

Schedule of Stock Price and Market Capitalization Goals

The CEO Agreement also provides Mr. Gutterman with the opportunity to earn an incentive bonus (the “Incentive Bonus”), with will become payable, if ever, in tranches following the Company’s attainment of certain stock price and market capitalization goals. The specific goals are as follows:

 

Company
Stock Price
Goal

 

Company
Market
Capitalization
Goal

 

Amount of
lncentive Bonus
Payable for
Achievement of
Tranche Goals

Tranche 1

 

$

2.50 based on 30-day VWAP

 

$

150 Million

 

100% of Base Salary

Tranche 2

 

$

2.50 based on 30-day VWAP

 

$

250 Million

 

200% of Base Salary

Tranche 3

 

$

5.00 based on 30-day VWAP

 

$

500 Million

 

300% of Base Salary

Tranche 4

 

$

10.00 based on 30-day VWAP

 

$

1 Billion

 

500% of Base Salary

The CEO Agreement also provides Mr. Gutterman with the opportunity to earn an incentive bonus (the “Incentive Bonus”), with will become payable, if ever, in tranches following the Company’s attainment of certain stock price and market capitalization goals. The specific goals are as follows:

 

Company Stock
Price Goal

 

Company
Market
Capitalization
Goal

 

Amount of Incentive Bonus
Payable for Achievement of
Tranche Goals

Tranche 1

 

$2.50 based on 30-day VWAP

 

$

150 Million

 

100% of Base Salary

Tranche 2

 

$2.50 based on 30-day VWAP

 

$

250 Million

 

200% of Base Salary

Tranche 3

 

$5.00 based on 30-day VWAP

 

$

500 Million

 

300% of Base Salary

Tranche 4

 

$10.00 based on 30-day VWAP

 

$

1 Billion

 

500% of Base Salary