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Stock Compensation | 3 Months Ended
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Mar. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Stock Compensation | Note 8 - Stock Compensation Stock Options Option awards are generally granted with an exercise price equal to the market price of the Company’s Common Stock at the date of grant; those options generally vest based on three years of continuous service and have ten-year contractual terms. Certain option and share awards provide for accelerated vesting if there is a change in control, as defined in the plans. The Company granted no options for the three months ended March 31, 2025 and 2024, respectively. The Company recognized stock compensation expense for stock options of $36,365 and $42,152 for the three months ended March 31, 2025 and 2024, respectively, of which $0 and $12,041 of expense are recorded in discontinued operations. The fair value of each option award is estimated on the date of grant using a Black Scholes option-pricing model. The Company uses historical option exercise and termination data to estimate the term the options are expected to be outstanding. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant. The expected dividend yield is calculated using historical dividend amounts and the stock price at the option issue date. The expected volatility is determined using the volatility of peer companies. The fair value of each stock option grant is estimated on the date of grant using the Black Scholes option pricing model with the following assumptions: Schedule of Fair Values of Stock Options Granted Using Black-scholes Valuation Model Assumptions
|  | March 31, 2024 |
Expected volatility |  |  | 51.02 - 116.56 | %
Expected dividends |  |  | 0 | %
Expected term (years) |  |  | 5.0 - 6.0 |
Risk-free rate |  |  | .40 - 4.33 | %
Fair value of common shares on grant date |  |  | $20.40 - $394.56 |
The summary of activity under the plans as of March 31, 2025, and change during the three months ended March 31, 2025, is as follows: Schedule of Stock Option Activity
|  |  |  |  |  |  |  | Weighted |  |  |  |
|  |  |  |  | Weighted |  |  | average |  |  |  |
|  |  |  |  | average |  |  | remaining |  |  | Aggregate |
|  |  |  |  | exercise |  |  | contractual |  |  | intrinsic |
Options |  | Shares |  |  | price |  |  | term |  |  | value |
Outstanding as of December 31, 2024 |  |  | 9,022 |  |  | $ | 91.06 |  |  |  | 7.6 |  |  | $ | - |
Granted |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Exercised |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Forfeited |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Expired |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Outstanding as of March 31, 2025 |  |  | 9,022 |  |  | $ | 91.06 |  |  |  | 7.4 |  |  | $ | - |
Exercisable as of March 31, 2025 |  |  | 6,924 |  |  | $ | 96.28 |  |  |  | 7.4 |  |  | $ | - |
The summary of activity under the plans as of March 31, 2024, and change during the three months ended March 31, 2024, is as follows:
|  |  |  |  |  |  |  | Weighted |  |  |  |
|  |  |  |  | Weighted |  |  | average |  |  |  |
|  |  |  |  | average |  |  | remaining |  |  | Aggregate |
|  |  |  |  | exercise |  |  | contractual |  |  | intrinsic |
Options |  | Shares |  |  | price |  |  | term |  |  | value |
Outstanding as of December 31, 2023 |  |  | 34,569 |  |  | $ | 105.48 |  |  |  | 7.7 |  |  | $ | 3,750 |
Granted |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Exercised |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Forfeited |  |  | (8,565 | ) |  |  | 68.52 |  |  |  |  |  |  |  |  |
Expired |  |  | (3,715 | ) |  |  | 109.32 |  |  |  |  |  |  |  |  |
Outstanding as of March 31, 2024 |  |  | 22,289 |  |  | $ | 119.04 |  |  |  | 4.4 |  |  | $ | 3,650 |
Exercisable as of March 31, 2024 |  |  | 17,519 |  |  | $ | 130.08 |  |  |  | 3.2 |  |  | $ | 3,650 |
Unamortized stock compensation expense of $72,715 will be amortized through 2026 for 2,099 of unvested options and has a weighted average recognition period of 2.0 years. Restricted Stock Units The Company’s Compensation Committee recommended to the Board of Directors and the Board approved the granting of certain restricted stock units (“RSU”) to members of the senior leadership team and the Board of Directors. For the three months ended March 31, 2025, the RSUs vest at quarterly intervals through September 30, 2025. The following is a summary of RSU activity for the three months ended March 31, 2025: Schedule of Restricted Stock Units
|  |  |  |  | Weighted |  |  | Weighted |  |  |  |
|  |  |  |  | Average |  |  | Average |  |  |  |
|  |  |  |  | Grant |  |  | Remaining |  |  | Aggregate |
|  |  |  |  | Date Fair |  |  | Contractual |  |  | Intrinsic |
|  | Shares |  |  | Value |  |  | Term |  |  | Value |
Outstanding as of December 31, 2024 |  |  | 12,501 |  |  | $ | 7.74 |  |  |  | 13.13 |  |  |  | - |
Granted |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Cancelled |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Vested and released |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Outstanding and unvested as of March 31, 2025 |  |  | 12,501 |  |  | $ | 8.89 |  |  |  | 11.19 |  |  | $ | - |
The Company recognized $33,095 as part of the total stock compensation expense related to RSU awards for the three months ended March 31, 2025. The total unrecognized compensation cost related to unvested RSUs as of March 31, 2025 was $73,699. For the three months ended March 31, 2024, the RSUs vest at quarterly intervals through December 31, 2024. The following is a summary of RSU activity for the three months ended March 31, 2024:
|  |  |  |  | Weighted |  |  | Weighted |  |  |  |
|  |  |  |  | Average |  |  | Average |  |  |  |
|  |  |  |  | Grant |  |  | Remaining |  |  | Aggregate |
|  |  |  |  | Date Fair |  |  | Contractual |  |  | Intrinsic |
|  | Shares |  |  | Value |  |  | Term |  |  | Value |
Outstanding as of December 31, 2023 |  |  | - |  |  | $ | - |  |  |  | - |  |  |  | - |
Granted |  |  | 25,000 |  |  |  | 16.80 |  |  |  | - |  |  |  | - |
Cancelled |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Vested and released |  |  | 6,250 |  |  |  | - |  |  |  | - |  |  | $ | 3,200 |
Outstanding and unvested as of March 31, 2024 |  |  | 18,750 |  |  | $ | 16.80 |  |  |  | 3.78 |  |  | $ | - |
The Company recognized $108,000 as part of the total stock compensation expense related to RSU awards for the three months ended March 31, 2024. The total unrecognized compensation cost related to unvested RSUs as of March 31, 2024 was $311,200.

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