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Stock-Based Compensation
 3 Months Ended
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