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Stockholders’ Equity (Tables)

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

Schedule of Changes in Stockholders' Equity

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

 Schedule of Changes in Stockholders' Equity

		Shares				Amount				Capital				(Deficit)				Total
										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			5,000				-				211,000				-				211,000
Cash settlement of equity-based compensation
Issuance of stock and options for services			23,643				-				173,000				-				173,000
Net loss			-				-				-				(4,276,000	)			(4,276,000	)
Balance September 30, 2022			12,934,741			$	-			$	60,730,000			$	(56,114,000	)		$	4,616,000

										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
Balance			12,934,741			$	-			$	60,905,000			$	(57,972,000	)		$	2,933,000
Equity-based compensation			165,779				-				496,000				-				496,000
Cash settlement of equity-based compensation			-				-				(24,000	)			-				(24,000	)
Issuance of stock and options for services			4,094				-				11,000				-				11,000
Net loss			-				-				-				(2,123,000	)			(2,123,000	)
Balance September 30, 2023			13,104,614			$	-			$	61,388,000			$	(60,095,000	)		$	1,293,000
Balance			13,104,614			$	-			$	61,388,000			$	(60,095,000	)		$	1,293,000

Summary of Stock Options Activity

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

 Summary of Stock Options Activity

		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			63,545			$	1.50				8.0
Cancelled/expired			(109,388	)		$	8.48
Outstanding on September 30, 2023			637,096			$	6.54				3.6
Exercisable, September 30, 2023			576,393			$	6.75				3.2

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:

 Summary of Fair Value of Options Using Black-Sholes Option Pricing Model

		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 nine months ended September 30, 2023:

 Summary of Restricted Stock Award and Restricted Stock Unit Activity

		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 September 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 nine months ended September 30, 2023:

 Summary of Performance Stock Unit Activity

		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			357,689			$	1.64
Vested			(45,251	)		$	1.36
Unvested at September 30, 2023			312,438			$	1.68

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented.

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