Shareholders' Equity and Share Based Compensation

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Shareholders' Equity and Share Based Compensation

12. SHAREHOLDERS’ EQUITY AND SHARE-BASED COMPENSATION

Share-based compensation expense was $875 and $3,476 for the three and nine months ended September 30, 2024, respectively, and $747 and $3,135 for the three and nine months ended September 30, 2023, respectively.

Stock option activity for the nine months ended September 30, 2024 was as follows:


	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Outstanding at January 1, 2024		6,946,576		$	3.50		7.54	$	83
Granted		170,000		$	0.95		6.21	$	5
Forfeited/expired		(424,167	)	$	3.43
Outstanding at September 30, 2024		6,692,409		$	3.43		7.09	$	294
Exercisable at September 30, 2024		3,600,055		$	5.24		5.97	$	57

Restricted shares activity for the nine months ended September 30, 2024 was as follows:


	Number of Restricted Stock Grants			Weighted Average Grant Date Fair Value
Outstanding at January 1, 2024		—		$	-
Granted		1,785,144		$	1.20
Vested and Issued		(1,479,024	)	$	1.25
Outstanding at September 30, 2024		306,120		$	0.98
Exercisable at September 30, 2024		—		$	-

On September 3, 2024, the Company granted 600,000 shares to a director of the Company.