Stock Based Compensation	6 Months Ended
Jun. 30, 2023
Stock Based Compensation [Abstract]
STOCK BASED COMPENSATION	NOTE 8 – STOCK BASED COMPENSATION Stock Options The compensation expense related to options for the six months ended June 30, 2023 and 2022 was $3,121,464 and $2,242,554, respectively. The fair value of these instruments was calculated using the Black-Scholes option pricing model. There is $12,254,201 of remaining expense related to unvested options to be recognized in the future over a weighted average period of 1.89 years. The total intrinsic value of outstanding options at June 30, 2023 was $309,383. During 2022, the Company granted certain performance based stock options, the expense for which will be recorded over time once the achievement of the performance is deemed probable. There was no expense related to these options recorded during the period. Restricted Stock Units The Company recorded of $4,762,162 and $4,956,867 in compensation expense related to restricted stock units for the six months ended June 30, 2023 and 2022, respectively. A total of $13,252,855 remains to be recognized at June 30, 2023 over a weighted average period of 2.01. During 2022, the Company granted certain performance based restricted stock units, the expense for which will be recorded over time once the achievement of the performance is deemed probable. There was no expense related to these restricted stock units recorded during the period. The director’s compensation program calls for the grant of restricted stock units with a one year vesting period. There was $351,765 and $129,515 included in the compensation expense discussed above related to director’s compensation for the periods ended June 30, 2023 and 2022, respectively. Equity Award Modification On April 16, 2023, the Compensation Committee approved a grant to the CEO of 86,685 restricted stock units and 161,698 stock options with a grant date fair value of $2.5 million to vest over a three year period. Concurrently, the CEO forfeited his October 2021 grant of 182,398 market-based restricted stock units. The forfeiture and accompanying grant are considered an equity modification according to ASC 718, Compensation-Stock Compensation. The additional compensation value created by the termination and issuance of new equity awarded, as measured using a Monte Carlo simulation was approximately $1.9 million in total. Under ASC 718 this results in a non-cash expense in current and future periods to be recognized over a three year period. These expense values are reflected and included in the option and restricted stock expense values discussed above.

Stock Based Compensation

6 Months Ended

Jun. 30, 2023

NOTE 8 – STOCK BASED COMPENSATION

Stock Options

The compensation expense related to options for the six months ended June 30, 2023 and 2022 was $3,121,464 and $2,242,554, respectively. The fair value of these instruments was calculated using the Black-Scholes option pricing model. There is $12,254,201 of remaining expense related to unvested options to be recognized in the future over a weighted average period of 1.89 years. The total intrinsic value of outstanding options at June 30, 2023 was $309,383.

During 2022, the Company granted certain performance based stock options, the expense for which will be recorded over time once the achievement of the performance is deemed probable. There was no expense related to these options recorded during the period.

Restricted Stock Units

The Company recorded of $4,762,162 and $4,956,867 in compensation expense related to restricted stock units for the six months ended June 30, 2023 and 2022, respectively. A total of $13,252,855 remains to be recognized at June 30, 2023 over a weighted average period of 2.01.

During 2022, the Company granted certain performance based restricted stock units, the expense for which will be recorded over time once the achievement of the performance is deemed probable. There was no expense related to these restricted stock units recorded during the period.

The director’s compensation program calls for the grant of restricted stock units with a one year vesting period. There was $351,765 and $129,515 included in the compensation expense discussed above related to director’s compensation for the periods ended June 30, 2023 and 2022, respectively.

Equity Award Modification

On April 16, 2023, the Compensation Committee approved a grant to the CEO of 86,685 restricted stock units and 161,698 stock options with a grant date fair value of $2.5 million to vest over a three year period. Concurrently, the CEO forfeited his October 2021 grant of 182,398 market-based restricted stock units. The forfeiture and accompanying grant are considered an equity modification according to ASC 718, Compensation-Stock Compensation. The additional compensation value created by the termination and issuance of new equity awarded, as measured using a Monte Carlo simulation was approximately $1.9 million in total. Under ASC 718 this results in a non-cash expense in current and future periods to be recognized over a three year period. These expense values are reflected and included in the option and restricted stock expense values discussed above.