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Share-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2024
Share-Based Compensation [Abstract]  
Schedule of Non-Vested Restricted Share As of March 31, 2024, non-vested restricted share units granted on August 22, 2023 are as follows:
Non-vested share units as of August 22, 2023    
Granted   40,000 
Vested   (20,000)
Forfeited   
-
 
Non-vested share units as of December 31, 2023 & March 31, 2024   20,000 
Schedule of Stock-Based Compensation Plans Stock option activity under the Company’s stock-based compensation plans is shown below:
   Number of
Shares
   Average
Exercise Price
per Share
   Aggregate
Intrinsic
Value*
   Weighted Average
Remaining
Contractual
Term in Years
 
                 
Outstanding at January 1, 2024   3,314,128   $1.30   $
      -
    4.3 
Exercisable at January 1, 2024   549,958   $1.96   $
-
    3.8 
                     
Granted   
-
    
-
    
-
    
        -
 
Exercised    
-
    
-
    
-
    
-
 
Forfeited   
-
    
-
    
-
    
-
 
Outstanding at March 31, 2024   3,314,128   $1.30   $
-
    4.2 
Exercisable at March 31, 2024   549,958   $1.96   $
-
    3.5 
* The intrinsic value of the stock options at March 31, 2024 is the amount by which the market value of the Company’s common stock of $1.04 as of March 31, 2024 exceeds the average exercise price of the option. As of March 31, 2024, the intrinsic value of the outstanding and exercisable stock options was nil.