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Stock-Based Compensation | 3 Months Ended
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Mar. 31, 2026
Stock-Based Compensation [Abstract] |
STOCK-BASED COMPENSATION | NOTE 14 – STOCK-BASED COMPENSATION The Company accounts for stock-based compensation in accordance with ASC 718, Compensation – Stock Compensation and recognizes compensation cost for equity awards based on their grant-date fair value over the requisite service period. Stock Options A summary of the option activity is presented below:
|  | Three Months Ended March 31, 2026 |
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Term (in Years) |  |  | Intrinsic Value |
Outstanding, December 31, 2025 |  |  | 1,154,352 |  |  | $ | 31.23 |  |  |  | 9.58 |  |  | $ | - |
Granted |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Exercised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Forfeited |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Outstanding, March 31, 2026 |  |  | 1,154,352 |  |  | $ | 31.23 |  |  |  | 9.33 |  |  | $ | - |
Exercisable, March 31, 2026 |  |  | 1,154,352 |  |  | $ | 31.23 |  |  |  | 9.33 |  |  | $ | - |
A summary of outstanding and exercisable stock options is presented below:
March 31, 2026 |
Stock Options Outstanding |  |  | Stock Options Exercisable |
|  |  |  |  |  | Weighted Average |  |  |  |
Exercise Price |  |  | Number of Shares |  |  | Remaining Life in Years |  |  | Number of Shares |
$ | 1,501.00 |  |  |  | 7 |  |  |  | 8.4 |  |  |  | 7 |
$ | 5,168.00 |  |  |  | 71 |  |  |  | 7.4 |  |  |  | 71 |
$ | 127.30 |  |  |  | 79 |  |  |  | 6.1 |  |  |  | 79 |
$ | 32.20 |  |  |  | 919,764 |  |  |  | 9.3 |  |  |  | 919,764 |
$ | 30.00 |  |  |  | 181,431 |  |  |  | 9.4 |  |  |  | 181,431 |
$ | 19.50 |  |  |  | 2,000 |  |  |  | 5.7 |  |  |  | 2,000 |
$ | 9.29 |  |  |  | 51,000 |  |  |  | 10.0 |  |  |  | 51,000 |
|  |  |  |  | 1,154,352 |  |  |  | 9.33 |  |  |  | 1,154,352 |
Restricted Stock Units A summary of Restricted Stock Unit (“RSU”) activity is presented below:
|  | Three Months Ended March 31, 2026 |
|  | Number of Shares |  |  | Weighted- Average Grant Date Fair Value Per Share |
Nonvested at December 31, 2025 |  |  | 156,095 |  |  | $ | 17.01 |
Granted |  |  | - |  |  |  | - |
Vested |  |  | (156,095 | ) |  |  | 17.01 |
Forfeited and cancelled |  |  | - |  |  |  | - |
Nonvested at March 31, 2026 |  |  | - |  |  | $ | - |
During the three months ended March 31, 2026, the Company recognized $0.1 million of stock-based compensation, related to outstanding RSUs. At March 31, 2026, the Company had no unrecognized expenses related to outstanding RSUs. Stock-based Compensation The effects of stock-based compensation on the Condensed Consolidated Statements of Operations and Comprehensive Loss and Condensed Consolidated Balance Sheets are as follows (in thousands):
|  | Three Months Ended March 31, |
|  | 2026 |  |  | 2025 |
Statements of Operations and Comprehensive Loss |  |  |  |  |  |
General and administrative |  | $ | 104 |  |  | $ | 578 |
Total stock-based compensation expense |  | $ | 104 |  |  | $ | 578 |

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