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Stockholders' Equity (Deficit) | 3 Months Ended
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Mar. 31, 2024
Federal Home Loan Banks [Abstract] |
Stockholders' Equity (Deficit) | NOTE 13 – STOCKHOLDERS’ EQUITY/(DEFICIT) Stock-Based Compensation The share-based compensation charged against income, related to our options and restricted stock units, for the three months ended March 31, 2024 and 2023, was $1,462,747 and $293,785, respectively. We granted options to purchase an aggregate of 90,000 shares of Common Stock to directors on January 29, 2024, options to purchase an aggregate of 200,000 shares of common stock to officers on January 29, 2024, and options to purchase an aggregate of 302,000 shares of common stock to employees on January 29, 2024. The value of the stock options granted was determined using the Black-Scholes-Merton option-pricing model, which values options based on the stock price at the grant date, the expected life of the option, the estimated volatility of the stock, the expected dividend payments, and the risk-free interest rate over the life of the option. The options were valued with the following assumptions used for grants issued in the table below. Expected volatilities are based on historical volatility of the Company’s stock as well as other companies operating similar businesses. The expected term (in years) is determined using historical data to estimate option exercise patterns. The expected dividend yield is based on the annualized dividend rate over the vesting period. The risk-free interest rate is based on the rate for US Treasury bonds commensurate with the expected term of the granted option.
|  | January 29, 2024 |
Risk free interest rate |  |  | 3.97 | %
Expected life |  |  | 5 years |
Expected volatility |  |  | 62.42 | %
Expected dividend yield |  |  | — |
Grant-date fair value |  |  | 2.61 |

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