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Stockholders’ Equity (Tables)

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Schedule of Changes in Stockholders' Equity

The following are changes in stockholders’ equity for the three months ended March 31, 2023 and 2024:

 Schedule of Changes in Stockholders' Equity

										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
Issuance of common stock for equity compensation, net of shares repurchased for income tax withholding			65,779				-				(18,000	)			-				(18,000	)
Equity-based compensation expense			-				-				268,000				-				268,000
Cash settlement of equity-based compensation			-				-				(24,000	)			-				(24,000	)
Conversion of debt and interest (Note 6)			124,208
Issuance of stock for services			2,083				-				8,000				-				8,000
Net loss			-				-				-				(889,000	)			(889,000	)
Balance March 31, 2023			13,002,603			$	-			$	61,139,000			$	(58,861,000	)		$	2,278,000

										Additional
		Common Stock								paid in				Accumulated
		Shares				Amount				Capital				(Deficit)				Total
Balance December 31, 2023			14,420,105			$	-			$	63,299,000			$	(60,796,000	)		$	2,503,000
Balance			14,420,105			$	-			$	63,299,000			$	(60,796,000	)		$	2,503,000
Issuance of common stock for equity compensation, net of shares repurchased for income tax withholding			175,562				-				(20,000	)			-				(20,000	)
Equity-based compensation expense			-				-				366,000				-				366,000
Conversion of debt and interest (Note 6)			124,208				-				136,000				-				136,000
Net loss			-				-				-				(449,000	)			(449,000	)
Balance March 31, 2024			14,719,875			$	-			$	63,781,000			$	(61,245,000	)		$	2,536,000
Balance			14,719,875			$	-			$	63,781,000			$	(61,245,000	)		$	2,536,000

Schedule of Stock Options Activity

The following is a summary of stock option activity for the three months ended March 31, 2024:

 Schedule of Stock Options Activity

		Number of Options				Weighted average exercise price per share				Remaining term in years
Outstanding on December 31, 2023			587,091			$	6.50				3.6
Issued			43,695			$	1.50				8.0
Outstanding on March 31, 2024			630,786			$	6.15				3.8
Exercisable, March 31, 2024			582,316			$	6.31				3.6

Schedule 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:

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

		2024
Expected term (in years)			8.0
Expected volatility			84.4	%
Risk-free interest rate			3.9	%
Expected dividends		$	-
Weighted average grant date fair value per share		$	1.15

Schedule 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 three months ended March 31, 2024:

 Schedule of Restricted Stock Award and Restricted Stock Unit Activity

		Number of shares				Weighted average grant date fair value
Unvested at January 1, 2024			32,606			$	4.82
Granted			5,000			$	1.20
Vested			(10,233	)		$	5.26
Unvested at March 31, 2024			27,373			$	3.99

Schedule of Performance Stock Unit Activity

The following table summarizes the activity for the Company’s unvested PSUs for the three months ended March 31, 2024:

 Schedule of Performance Stock Unit Activity

		Number of shares				Weighted average grant date fair value
Unvested at January 1, 2024			63,888			$	1.70
Granted			445,000			$	1.20
Vested			(48,932	)		$	1.15
Forfeited			(2,548	)		$	1.15
Unvested and expected to vest at March 31, 2024			457,408			$	1.20

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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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