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Stockholders’ Equity (Tables)
 6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Schedule of Changes in Stockholders' Equity

The following are changes in stockholders’ equity for the six months ended June 30, 2023 and 2024:

 

    Shares     Amount     Capital     (Deficit)     Total  
          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     -       -       211,000       -       211,000  
Cash settlement of equity-based compensation     -       -       (24,000 )     -       (24,000 )
Issuance of stock for services     2,083       -       8,000       -       8,000  
Net loss     -       -       -       (1,647,000 )     (1,647,000 )
Balance June 30, 2023     13,002,603     $ -     $ 61,082,000     $ (59,619,000 )   $ 1,463,000  

 

 

           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 
Issuance of common stock for equity compensation, net of shares repurchased for income tax withholding   179,593    -    (20,000)   -    (20,000)
Equity-based compensation expense   -    -    517,000    -    517,000 
Conversion of debt and interest (Note 5)   124,208    -    136,000    -    136,000 
Net loss   -    -    -    (1,460,000)   (1,460,000)
Balance June 30, 2024   14,723,906   $-   $63,932,000   $(62,256,000)  $1,676,000 
Schedule of Stock Options Activity

The following is a summary of stock option activity for the six months ended June 30, 2024:

 

   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   229,849   $1.97    8.0 
Expired   (71,930)  $7.95      
Outstanding on June 30, 2024   745,010   $4.96    5.5 
                
Exercisable, June 30, 2024   531,540   $6.02    3.9 
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:

 

   2024 
Expected term (in years)   8.0 
Expected volatility   93.5%
Risk-free interest rate   4.2%
Expected dividends  $- 
Weighted average grant date fair value per share  $1.71 
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 six months ended June 30, 2024:

  

   Number of shares   Weighted average grant date fair value 
Unvested at January 1, 2024   32,606   $4.82 
Granted   65,000   $1.73 
Vested   (10,733)  $5.58 
Unvested at June 30, 2024   86,873   $2.41 
Schedule of Performance Stock Unit Activity

The following table summarizes the activity for the Company’s unvested PSUs for the six months ended June 30, 2024:

  

   Number of shares   Weighted average grant date fair value 
Unvested at January 1, 2024   63,888   $1.70 
Granted   429,844   $1.22 
Vested   (55,217)  $1.15 
Unvested and expected to vest at June 30, 2024   438,515   $1.20