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Equity Compensation Plan (Tables) | 12 Months Ended
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Dec. 31, 2023
Share-based Payment Arrangement [Abstract] |
Summary of Nonvested Restricted Shares | A summary of the status of the Company’s non-vested restricted shares as of December 31, 2021, 2022 and 2023, is presented below:
|  | Number of restricted shares |  |  | Weighted average grant date fair value per non-vested share |
Non-vested, January 1, 2021 |  |  | — |  |  |  | — |
Granted |  |  | 343,744 |  |  |  | 2.99 |
Non-vested, December 31, 2021 |  |  | 343,744 |  |  |  | 2.99 |
Vested |  |  | (171,872 | ) |  |  | 2.99 |
Non-vested, December 31, 2022 |  |  | 171,872 |  |  |  | 2.99 |
Granted |  |  | 1,566,000 |  |  |  | 4.83 |
Vested |  |  | (620,872 | ) |  |  | 3.08 |
Non-vested, December 31, 2023 |  |  | 1,117,000 |  |  |  | 5.52 |
Summary of the Company's non-vested stock option activity | A summary of the Company’s non-vested stock option activity and related information for the years ended December 31, 2021, 2022 and 2023, is as follows:
|  | Option shares # |  |  | Weighted- Average Exercise Price $ |
Outstanding – January 1, 2021 |  |  | — |  |  |  | — |
Granted |  |  | 250,000 |  |  |  | 2.99 |
Exercised |  |  | — |  |  |  | — |
Outstanding – December 31, 2021 |  |  | 250,000 |  |  |  | 2.99 |
Exercisable – December 31, 2021 |  |  | — |  |  |  | — |
Granted |  |  | — |  |  |  | — |
Exercised |  |  | — |  |  |  | — |
Outstanding – December 31, 2022 |  |  | 250,000 |  |  |  | 2.99 |
Exercisable – December 31, 2022 |  |  | — |  |  |  | — |
Granted |  |  | 250,000 |  |  |  | 2.85 |
Granted |  |  | 299,000 |  |  |  | 6.43 |
Exercised |  |  | (250,000 | ) |  |  | 2.99 |
Outstanding – December 31, 2023 |  |  | 549,000 |  |  |  | 4.80 |
Exercisable – December 31, 2023 |  |  | — |  |  |  | — |

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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 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + 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)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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