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Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense

The amount of stock-based compensation expense is as follows (amounts in thousands):

 

   Three months ended June 30,   Six months ended June 30, 
   2021   2020   2021   2020 
Stock options  $29   $23   $53   $53 
Restricted stock awards   -    1    1    2 
Total  $29   $24   $54   $55 
Schedule of Estimated Fair Value of Stock Options

The Company estimated the fair value of stock options using the Black-Scholes-Merton option pricing model with the following assumptions (all share amounts have been adjusted to reflect the 1-for-4 reverse split that occurred in December 2020):

 

   Six months ended June 30, 
   2021   2020 
Number of options awarded to purchase common shares   17,000    5,000 
Risk-free interest rate   0.82%   1.56%
Expected volatility   70.10%   97.3%
Assumed dividend yield   N/A    N/A 
Assumed dividend yield   -    - 
Expected life of options from the date of grant   9.8 years    9.8 years 
Schedule of Unrecognized Compensation Cost from Unvested Awards

The estimated unrecognized compensation cost from unvested awards which will be recognized ratably over the remaining vesting phase is as follows (amounts in thousands):

 

Years ended December 31st:  Unvested stock options   Unvested restricted stock awards   Total unrecognized compensation expense 
2021 (remaining six months)  $79   $-   $79 
2022   98    -    98 
2023   40    -    40 
2024   11    -    11 
   $228   $-   $228 
Schedule of Stock Option Activity

Stock option activity under our Equity Incentive Plans is summarized as follows (all share and dollar amounts have been adjusted to reflect the 1-for-4 reverse split that occurred in December 2020):

 

               Weighted avg.     
       Weighted avg.   Weighted avg.   remaining     
   Number of   exercise price   grant date fair   contractual life   Aggregate 
   awards   per share   value per share   (in years)   intrinsic value 
                     
Outstanding, December 31, 2020   105,086   $6.25   $6.06    5.38   $814,090 
Granted   17,000   $14.77   $10.90    10.00      
Exercised   (17,763)  $2.30   $2.92    1.74      
Expired/Forfeited   (1,988)  $7.17   $6.82    7.28      
Outstanding, June 30, 2021   102,335   $8.31   $7.49    6.33   $732,909 
Exercisable, June 30, 2021   68,657   $6.93   $6.80    5.04   $586,568 
Unvested, June 30, 2021   33,678   $11.12   $8.89    8.95   $146,341 
Schedule of Restricted Stock Activity Under Equity Incentive Plan

Restricted stock activity under our Equity Incentive Plans is summarized as follows (all share and dollar amounts have been adjusted to reflect the 1-for-4 reverse split that occurred in December 2020):

 

       Weighted avg. 
   Number of   grant date 
   options   fair value 
Non-vested restricted shares, December 31, 2020   1,250   $10.20 
Granted   -   $- 
Vested   (1,250)  $10.20 
Forfeited   -   $- 
Non-vested restricted shares, June 30, 2021   -   $-