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Note 14 - Stockholders' Deficit
 3 Months Ended
Mar. 31, 2024
Notes to Financial Statements  
Equity [Text Block]

14. Stockholders' Deficit:

 

The following table summarizes stockholders' deficit transactions for the three months March 31, 2024 (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)

    

deficit

  
                                                 

Balances, December 31, 2023

     10,903,405     $ 34,373     $ 14,072     $ (40,298 )   $ 1,728     $ 9,875  

Stock-based compensation(1)

     25,218       662       1,298       -       -       1,960  

Net loss

     -       -       -       (26,484 )     -       (26,484 )

Other comprehensive income (loss)

     -       -       -       -       (1,295 )     (1,295 )

Balances, March 31, 2024

     10,928,623     $ 35,035     $ 15,370     $ (66,782 )   $ 433     $ (15,944 )

 

(1) The Company capitalizes stock-based compensation costs directly attributable to the development of qualifying assets. Qualifying assets include internal use software (IUS), assets under construction (AUC), equipment, or other long-lived assets that meet the capitalization criteria prescribed by ASC 350. During the three ended March 31, 2024 the Company capitalized $0.1 million of stock-based compensation directly attributable to the development of certain IUS assets. 

 

2024 Stock Buyback Program 

 

On February 22, 2024, the Company announced that its Board of Directors (“Board”) approved a stock buyback program to repurchase up to $40 million of its common stock in the open market. The $40 million buyback program commenced on February 23, 2024 and is expected to terminate on February 22, 2025. For the three months ended March 31, 2024, the Company did not repurchase shares under this program.

 

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 were to be made exclusively through the facilities of the NASDAQ Capital Market. The $40 million buyback program commenced on February 10, 2023 and terminated on February 9, 2024. For the three months ended March, 31 2023, the Company did not repurchase shares under this program. For the three months ended March 31, 2024, 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 months ended March 31, 2023 the Company did not repurchase shares under this program.