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Equity Compensation Plan (Tables)

12 Months Ended

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

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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
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-Subparagraph (d)
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-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
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