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Note 14 - Stockholders' Equity
 9 Months Ended
Sep. 30, 2023
Notes to Financial Statements  
Equity [Text Block]

14. Stockholders' Equity:

 

The following table summarizes stockholders' equity transactions for the three and nine months September 30, 2023 (Dollar amounts in thousands of U.S. dollars): 

 

                  

Accumulated

     
          

Additional

      

other

  

Total

 
  

Common stock

  

paid in

  

Retained earnings

  

comprehensive

  

stockholders'

 
  

Number

  

Amount

  

capital

  

(Accumulated Deficit)

  

income (loss)

  

equity

 
                         

Balances, June 30, 2023

  10,853,297  $32,945  $11,509  $5,848  $804  $51,106 
                         

Stock-based compensation(1)

  25,843   647   1,728   -   -   2,375 

Net loss

  -   -   -   (22,772)  -   (22,772)

Other comprehensive income (loss)

  -   -   -   -   (664)  (664)

Balances, September 30, 2023

  10,879,140  $33,592  $13,237  $(16,924) $140  $30,045 

 

 

                  

Accumulated

     
          

Additional

      

other

  

Total

 
  

Common stock

  

paid in

  

Retained earnings

  

comprehensive

  

stockholders'

 
  

Number

  

Amount

  

capital

  

(Accumulated Deficit)

  

income (loss)

  

equity

 
                         

Balances, December 31, 2022

  10,817,110  $31,868  $8,106  $55,899  $784  $96,657 
                         

Stock-based compensation(1)

  62,030   1,724   5,131   -       6,855 

Net loss

  -   -   -   (72,823)  -   (72,823)

Other comprehensive income (loss)

  -   -   -   -   (644)  (644)

Balances, September 30, 2023

  10,879,140  $33,592  $13,237  $(16,924) $140  $30,045 

 

(1) The Company capitalizes stock-based compensation costs directly attributable to the development of qualifying assets. Qualifying assets include internally use software (IUS), assets under construction (AUC), equipment, or other long-lived assets that meet the capitalization criteria prescribed by ASC 718. During the three and nine months ended September 30, 2023 the Company capitalized $0.1 million and $0.3 million of stock-based compensation directly attributable to the development of certain IUS assets. 

 

2023 Stock Buyback Program

 

On February 9, 2023, the Company announced that its Board has approved a stock buyback program to repurchase up to $40 million of its common stock in the open market. Purchases will be made exclusively through the facilities of the NASDAQ Capital Market. The $40 million buyback program commenced on February 10, 2023 and is expected to terminate on February 9, 2024. For the three and nine months ended September 30, 2023, the Company did not repurchase shares under this program.

 

2022 Stock Buyback Program

 

On  February 10, 2022, the Company announced that its Board approved a stock buyback program to repurchase up to $40 million of its common stock in the open market. Purchases were to be made exclusively through the facilities of the NASDAQ Capital Market. The stock buyback program commenced on  February 11, 2022 and was terminated on  February 10, 2023. For the three and nine months ended September 30, 2022 the Company did not repurchase shares under this program. During the nine months ended September 30, 2023 the Company did not repurchase shares under this program.

 

2021 Stock Buyback Program

 

On  February 9, 2021, the Company announced that its Board approved a stock buyback program to repurchase up to $40 million of its common stock in the open market. Purchases will be made exclusively through the facilities of the NASDAQ Capital Market. The stock buyback program commenced on  February 10, 2021 and was terminated on  February 9, 2022. For the nine months ended September 30, 2022 the Company did not repurchase shares under this program.