XML 43 R30.htm IDEA: XBRL DOCUMENT
v3.25.3

SHAREHOLDERS' EQUITY (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Equity [Abstract] |
Schedule of Stock-Based Compensation Expense | The following table summarizes the stock-based compensation expense incurred by the Company for the three and nine months ended September 30, 2025 and 2024:
| Three months ended September 30, |  | Nine months ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Stock-based compensation | $ | 260,307 |  |  | $ | 160,139 |  |  | $ | 762,994 |  |  | $ | 160,139 |
Schedule of Nonvested Share Activity | The following table summarizes restricted stock (i) converted upon Spin-Off, (ii) granted, (iii) vested and (iv) forfeited for the Company’s directors and officers and employees of the Manager as of September 30, 2025 and December 31, 2024:
| As of September 30, 2025 |  | As of December 31, 2024
Converted upon Spin-Off | 88,685 |  |  | 88,685 |
Granted | 135,269 |  |  | 115,644 |
Vested | (48,402) |  |  | (805) |
Forfeited | (3,315) |  |  | — |
Balance | 172,237 |  |  | 203,524 |
Schedule of Restricted Stock Awards Activity | The fair value of the Company’s restricted stock awards is based on the Company’s stock price on the date of grant. The following tables summarize the restricted stock activity as of and during the nine months ended September 30, 2025:
| Number of shares of restricted stock |  | Weighted-average grant date fair value
Balance as of December 31, 2024 | 203,524 |  |  | $ | 13.16 |
Granted | 19,625 |  |  | 11.78 |
Vested | (47,597) |  |  | 13.43 |
Forfeited | (3,315) |  |  | 13.04 |
Balance as of September 30, 2025 | 172,237 |  |  | $ | 12.93 |

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (c) -Paragraph 2 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_NonvestedRestrictedStockSharesActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration