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Shareholders' Equity and Share Based Compensation (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Summary of fair value of stock option valuation assumptions

Stock option activity for the nine months ended September 30, 2023 was as follows:

		Number of Options				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term (years)				Aggregate Intrinsic Value
Outstanding at January 1, 2023			4,089,418			$	5.76				6.77			$	152
Granted		2,671,896				$	0.99				9.17			$	125
Exercised		(100,000)				$	0.83							$	71
Forfeited		(152,500)				$	5.15
Outstanding at September 30, 2023			6,508,814			$	3.84				7.31			$	99
Exercisable at September 30, 2023		3,147,929				$	6.11				5.49			$	2

Summary of non-vested performance-based restricted share units

Performance-based shares activity for the nine months ended September 30, 2023 was as follows:

		Number of Performance-based Restricted Share Units				Weighted Average Grant Date Fair Value
Outstanding at January 1, 2023			30,000			$	8.31
Outstanding at September 30, 2023			20,000			$	8.31
Exercisable at September 30, 2023			20,000			$	8.31

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- Definition

Tabular disclosure of the changes in outstanding nonvested restricted stock units.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

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- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

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