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CAPITAL STOCK, STOCK PLANS, WARRANTS AND STOCK BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
SCHEDULE OF STOCK OPTIONS VALUATION ASSUMPTIONS | SCHEDULE OF STOCK OPTIONS VALUATION ASSUMPTIONS
|  | 2024 |  |  | 2023 |
|  | Employee Stock Options Granted |
|  | 2024 |  |  | 2023 |
Weighted-average fair value per share |  | $ | 4.90 |  |  |  | 2.07 |
Risk -free interest rate (1) |  |  | 4.04%-4.11 | % |  |  | 3.48%-4.98 | %
Expected volatility of stock (2) |  |  | 59.07%-59.10 | % |  |  | 55.19%-58.78 | %
Dividend yield (3) |  |  | None |  |  |  | None |
Expected option life (years) (4) |  |  | 5.2 - 5.5 |  |  |  | 5.0 - 5.6 |
|  | 2024 |  |  | 2023 |
|  | Outside Director Stock Options Granted |
|  | 2024 |  |  | 2023 |
Weighted-average fair value per share |  | $ | 6.87 |  |  | $ | 6.46 |
Risk -free interest rate (1) |  |  | 4.20 | % |  |  | 3.85 | %
Expected volatility of stock (2) |  |  | 56.00 | % |  |  | 54.31 | %
Dividend yield (3) |  |  | None |  |  |  | None |
Expected option life (years) (4) |  |  | 9.5 |  |  |  | 10.0 |
(1) | The risk-free interest rate is based on the U.S. Treasury yield in effect at the grant date over the expected term of the option.
(2) | The expected volatility is based on historical volatility from the Company’s traded Common Stock over the expected term of the option.
(3) | The Company has never paid any dividends on its Common Stock. Our Loan Agreement prohibits the Company from paying any cash dividends without prior approval from our lender.
(4) | The expected option life is based on historical exercises and post-vesting data.
SCHEDULE OF SHARE-BASED COMPENSATION, ALLOCATION OF RECOGNIZED PERIOD COSTS | The following table summarizes stock-based compensation recognized (within SG&A expenses) for fiscal years 2024 and 2023. SCHEDULE OF SHARE-BASED COMPENSATION, ALLOCATION OF RECOGNIZED PERIOD COSTS
|  | 2024 |  |  | 2023 |
|  | Year Ended |
|  | 2024 |  |  | 2023 |
Employee Stock Options |  | $ | 358,000 |  |  | $ | 367,000 |
Director Stock Options |  |  | 298,000 |  |  |  | 181,000 |
Total |  | $ | 656,000 |  |  | $ | 548,000 |
SCHEDULE OF STOCK OPTIONS ROLL FORWARD | The summary of the Company’s total plans as of December 31, 2024, and 2023, and changes during the period then ended are presented as follows: SCHEDULE OF STOCK OPTIONS ROLL FORWARD
|  | Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (years) |  |  | Aggregate Intrinsic Value (4) |
Options outstanding January 1, 2024 |  |  | 994,500 |  |  | $ | 5.57 |  |  |  |  |  |  |  |  |
Granted |  |  | 150,500 |  |  | $ | 9.43 |  |  |  |  |  |  |  |  |
Exercised |  |  | (97,700 | ) |  | $ | 5.16 |  |  |  |  |  |  | $ | 662,524 |
Forfeited |  |  | (46,400 | ) |  | $ | 5.93 |  |  |  |  |  |  |  |  |
Options outstanding end of period (1) |  |  | 1,000,900 |  |  | $ | 6.18 |  |  |  | 4.7 |  |  | $ | 4,894,634 |
Options exercisable at December 31, 2024(2) |  |  | 401,000 |  |  | $ | 5.62 |  |  |  | 3.9 |  |  | $ | 2,183,072 |
|  | Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (years) |  |  | Aggregate Intrinsic Value (4) |
Options outstanding January 1, 2023 |  |  | 1,018,400 |  |  | $ | 5.02 |  |  |  |  |  |  |  | - |
Granted |  |  | 370,000 |  |  | $ | 3.15 |  |  |  |  |  |  |  |  |
Exercised |  |  | (320,400 | ) |  | $ | 3.72 |  |  |  |  |  |  | $ | 2,335,042 |
Forfeited/expired |  |  | (73,500 | ) |  | $ | 3.77 |  |  |  |  |  |  |  |  |
Options outstanding end of period (2) |  |  | 994,500 |  |  | $ | 5.57 |  |  |  | 5.0 |  |  | $ | 2,417,081 |
Options exercisable at December 31, 2023(3) |  |  | 319,300 |  |  | $ | 5.46 |  |  |  | 4.1 |  |  | $ | 766,037 |
(1) | Options with exercise prices ranging from $3.15 to $10.20
(2) | Options with exercise prices ranging from $3.15 to $9.81
(3) | Options with exercise prices ranging from $3.15 to $7.50
(4) | The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price
SCHEDULE OF NON VESTED OPTIONS | The summary of the Company’s nonvested options as of December 31, 2024, and changes during the period then ended are presented as follows: SCHEDULE OF NON VESTED OPTIONS
|  |  |  |  | Weighted Average |
|  |  |  |  | Grant-Date |
|  | Shares |  |  | Fair Value |
Non-vested options January 1, 2024 |  |  | 675,200 |  |  | $ | 3.12 |
Granted |  |  | 150,500 |  |  |  | 5.81 |
Vested |  |  | (181,800 | ) |  |  | 3.15 |
Forfeited |  |  | (44,000 | ) |  |  | 2.06 |
Non-vested options at December 31, 2024 |  |  | 599,900 |  |  | $ | 3.79 |

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