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Stockholders’ Equity (Tables)
 6 Months Ended
Jun. 30, 2023
Equity [Abstract]  
Schedule of Changes in Stockholders' Equity

The following are changes in stockholders’ equity for the six months ended June 30, 2022 and 2023:

 

                     
           Additional         
   Common Stock   paid in   Accumulated     
   Shares   Amount   Capital   (Deficit)   Total 
Balance December 31, 2021   12,905,112   $-   $60,341,000   $(51,838,000)  $8,503,000 
Shares issued for warrant exercise   986    -    5,000    -    5,000 
Equity-based compensation   -    -    93,000    -    93,000 
Issuance of stock and options for services   13,801    -    98,000    -    98,000 
                          
Net loss   -    -    -    (1,589,000)   (1,589,000)
Balance June 30, 2022   12,919,899   $-   $60,537,000   $(53,427,000)  $7,110,000 

 

           Additional         
   Common Stock   paid in   Accumulated     
   Shares   Amount   Capital   (Deficit)   Total 
Balance December 31, 2022   12,934,741   $-   $60,905,000   $(57,972,000)  $2,933,000 
                          
Equity-based compensation   35,659    -    118,000    -    118,000 
Cash settlement of equity-based compensation   -    -    (24,000)   -    (24,000)
Issuance of stock and options for services   32,203    -    83,000    -    83,000 
Net loss   -    -    -    (1,647,000)   (1,647,000)
Balance June 30, 2023   13,002,603   $-   $61,082,000   $(59,619,000)  $1,463,000 
Summary of Stock Options Activity

The following is a summary of stock option activity for the six months ended June 30, 2023:

 

   Number of Options   Weighted
average
exercise price
per share		   Remaining
term in years		 
Outstanding on December 31, 2022   682,939   $7.30    3.2 
Issued   42,045   $1.48    8.0 
Cancelled/expired   (108,871)  $8.38      
Outstanding on June 30, 2023   616,113   $6.71    3.6 
                
Exercisable, June 30, 2023   554,902   $6.96    2.8 
Summary of Fair Value of Options Using Black-Sholes Option Pricing Model

The fair value of the options issued was calculated using the Black-Scholes option pricing model, based on the following:

 

   2023 
Expected term (in years)   8.0 
Expected volatility   84.4%
Risk-free interest rate   3.6%
Expected dividends  $- 
Weighted average grant date fair value per share  $1.19 
Summary of Restricted Stock Award and Restricted Stock Unit Activity

The following is a summary of restricted stock award and restricted stock unit activity for the six months ended June 30, 2023:

 

   Number of
shares		   Weighted
average grant
date fair value		 
Unvested at January 1, 2023   41,923   $4.92 
Granted   5,000   $1.25 
Vested   (4,386)  $5.06 
Forfeited   (9,931)  $3.33 
Unvested at June 30, 2023   32,606   $4.82 
Summary of Performance Stock Unit Activity

The following table summarizes the activity for the Company’s unvested PSUs for the three months ended June 30, 2023:

 

   Number of shares   Weighted
average grant
date fair value		 
Unvested at January 1, 2023   17,678   $4.50 
Cash settled   (17,678)  $4.50 
Granted   281,934   $1.58 
Vested   (45,251)  $1.36 
Unvested at June 30, 2023   236,683   $1.63