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Note 14 - Stockholders' Deficit
 9 Months Ended
Sep. 30, 2024
Notes to Financial Statements  
Equity [Text Block]

14. Stockholders' Deficit:

 

The following table summarizes stockholders' deficit transactions for the three and nine months September 30, 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, June 30, 2024

  10,957,269  $35,527  $16,662  $(85,386) $129  $(33,068)

Stock-based compensation(1)

  27,969   615   1,268   -   -   1,883 

Net loss

  -   -   -   (22,297)  -   (22,297)

Other comprehensive income (loss)

  -   -   -   -   408   408 

Balances, September 30, 2024

  10,985,238  $36,142  $17,930  $(107,683) $537  $(53,074)

 

                  

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)

  81,833   1,769   3,858   -   -   5,627 

Net loss

  -   -   -  

(67,385

)  -  

(67,385

)

Other comprehensive income (loss)

  -   -   -   -  

(1,191

) 

(1,191

)

Balances, September 30, 2024

  10,985,238  $36,142  $17,930  $(107,683) $537  $(53,074)

 

(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 and nine month ended September 30, 2024, the Company capitalized $0.1 million and $0.2 million of stock-based compensation directly attributable to the development of certain IUS assets. Comparatively, 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.

 

2024 Stock Buyback Program 

 

On February 23, 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 and nine months ended September 30, 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 stock buyback program commenced on February 10, 2023 and terminated on February 9, 2024. During the nine months ended September 30, 2024 and  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 nine months ended September 30, 2023 the Company did not repurchase shares under this program.