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Stock Options (Tables)
9 Months Ended
Sep. 30, 2025
Stock Options  
Summary of fair value of stock option awards granted

 

 

Number of

Options

 

 

Weighted

Average

Exercise

Prices

 

Balance December 31, 2024

 

 

77,000

 

 

$5.17

 

Granted

 

 

400,000

 

 

$11.50

 

Exercised

 

 

(131,125)

 

$7.93

 

Expired

 

 

(3,000)

 

$5.25

 

Outstanding at September 30, 2025

 

 

342,875

 

 

$11.50

 

Summary of stock option activity

Fair value

 

$1,901,360

 

Options issued

 

 

400,000

 

Exercise price

 

$11.50

 

Expected term (in years)

 

 

3.0

 

Risk-free rate

 

 

4.34%

Volatility

 

 

64.2%