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Stock Options and Stock Grants (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
We follow ASC Topic 718, Share-Based Payments, in which compensation expense is recognized only for share-based payments expected to vest.

We follow ASC Topic 718, Share-Based Payments, in which compensation expense is recognized only for share-based payments expected to vest. 

 

             
  

Years ended

December 31,

 
   2024   2023 
Share-based compensation expense  $725   $773 
Remaining unrecognized compensation expense   1,057    1,118 
Remaining weighted average-period, expense recognition (years)   2.4    1.8 
The following table illustrates the various assumptions used to calculate the Black-Scholes option pricing model for options granted for all years presented:

The following table illustrates the various assumptions used to calculate the Black-Scholes option pricing model for options granted for all years presented:

 

   Years Ended December 31, 
   2024   2023 
Weighted-average risk-free interest rates:   4.3%   3.8%
           
Dividend yield:   0%   0%
           
Weighted-average expected life (years) of the option:   4    4 
           
Weighted-average expected stock price volatility:   91%   93%
           
Weighted-average fair value of the options granted:  $1.74   $0.50 
Additional disclosures for options granted for all years presented:

Additional disclosures for options granted for all years presented:

 

   Years Ended December 31, 
   2024   2023 
Vesting period (years) of shares granted in period   3    3 
           
Contractual life (years) of shares granted in period   7    7 
           
Estimated forfeitures   8%   8%
The following table summarizes the option activity for our employees and directors during the year ended December 31, 2024:

The following table summarizes the option activity for our employees and directors during the year ended December 31, 2024:

 

           Weighted     
       Weighted   Average   Aggregate 
       Average   Remaining   Intrinsic 
   Shares   Exercise Price   Contractual   Value 
Options  (Rounded)   per Share   Term (Years)   (000s) 
Outstanding on January 1, 2024   3,525,966   $1.22    4.2   $160 
                     
Granted   388,000   $2.40           
Exercised   (455,995)  $0.52           
Forfeited or expired   (246,232)  $1.13           
                     
Outstanding on December 31, 2024   3,211,739   $1.47    4.4   $3,961 
Exercisable on December 31, 2024   2,206,666   $1.46    3.6   $2,984 
                     
Shares available for grant   62,900                
The aggregate intrinsic value in the table above is based on our closing stock price of $2.26

The aggregate intrinsic value in the table above is based on our closing stock price of $2.26 on the last business day for the year ended December 31, 2024.

 

             
  

Years ended

December 31,

 
   2024   2023 
Shares exercised   455,995    294,074 
Total intrinsic value  $370   $195 
Cash received  $239   $154