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Stockholders’ Equity (Tables) | 6 Months Ended
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Jun. 30, 2024
Stockholders’ Equity [Abstract] |
Schedule of Activity Under the Stock Option Plans | Activity under the stock option plans described above was as follows:
|  | 2010 Plan |  |  | 2017 Plan |  |  | Weighted Average Exercise Price |  |  | Aggregate Intrinsic Value(1) |
Outstanding as of December 31, 2022 |  |  | 202,500 |  |  |  | 402,500 |  |  | $ | 7.19 |  |  | $ | (661,310 | )
Grants |  |  | — |  |  |  | 122,000 |  |  | $ | 5.16 |  |  |  |  |
Terminations/forfeitures(2) |  |  | (10,000 | ) |  |  | (94,500 | ) |  | $ | 7.12 |  |  |  |  |
Exercises |  |  | (4,000 | ) |  |  | — |  |  | $ | 4.69 |  |  |  |  |
Outstanding as of December 31, 2023 |  |  | 188,500 |  |  |  | 430,000 |  |  | $ | 6.82 |  |  | $ | (1,071,121 | )
Grants |  |  | — |  |  |  | 21,000 |  |  | $ | 4.30 |  |  |  |  |
Terminations/forfeitures(2) |  |  | (2,000 | ) |  |  | (19,500 | ) |  | $ | 7.29 |  |  |  |  |
Exercises |  |  | — |  |  |  | — |  |  | $ | — |  |  |  |  |
Outstanding as of June 30, 2024 |  |  | 186,500 |  |  |  | 431,500 |  |  | $ | 6.72 |  |  | $ | (1,155,451 | )
Vested as of June 30, 2024 |  |  | 186,500 |  |  |  | 128,500 |  |  | $ | 6.87 |  |  | $ | (637,770 | )
Vested and expected to vest as of June 30, 2024 |  |  | 186,500 |  |  |  | 431,500 |  |  | $ | 6.72 |  |  | $ | (1,155,451 | )
Reserved for future grants |  |  | — |  |  |  | 200,500 |  |  |  |  |  |  |  |  |
(1) | Intrinsic value is the difference between the fair market value of the underlying common stock as of the date indicated and as of the date of the option grant (which is equal to the option exercise price).
(2) | Terminations and forfeitures are recognized when they occur.
Schedule of Additional Information About the Stock Option Plans | The following table displays additional information about the stock option plans described above:
|  | Number of Shares |  |  | Weighted Average Fair Value at Grant Date |  |  | Weighted Average Exercise Price |
Non-vested stock options as of January 1, 2024 |  |  | 337,500 |  |  | $ | 3.66 |  |  | $ | 7.14 |
Non-vested stock options as of June 30, 2024 |  |  | 303,000 |  |  | $ | 3.46 |  |  | $ | 6.56 |
Stock options granted during the six-month period ended June 30, 2024 |  |  | 21,000 |  |  | $ | 2.02 |  |  | $ | 4.30 |
Stock options that vested during the six-month period ended June 30, 2024 |  |  | 46,000 |  |  | $ | 4.16 |  |  | $ | 9.69 |
Stock options that were terminated or forfeited during the six-month period ended June 30, 2024 |  |  | 21,500 |  |  | $ | 3.53 |  |  | $ | 7.29 |
Schedule of Fair Value Stock Option Grant Using Black-Scholes Option Pricing Model With the Weighted-Average Assumptions | The fair value of each stock option grant has been estimated on the date of grant using the Black-Scholes option pricing model, for the purpose discussed in Note 2(n), with the following weighted-average assumptions:
|  | During the Three-Month Periods Ended June 30, |  |  | During the Six-Month Periods Ended June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Risk-free interest rate(1) |  |  | 4.24 | % |  |  | 3.25 | % |  |  | 4.24 | % |  |  | 3.48 | %
Dividend yield(2) |  |  | 0 | % |  |  | 0 | % |  |  | 0 | % |  |  | 0 | %
Expected volatility(2) |  |  | 50 | % |  |  | 50 | % |  |  | 50 | % |  |  | 54 | %
Expected life(3) |  |  | 4.7 years |  |  |  | 4.9 years |  |  |  | 4.8 years |  |  |  | 6.2 years |
(1) | The risk-free interest rate is based on U.S. Treasury yields for a maturity approximating the expected option term.
(2) | The dividend yield and expected volatility are derived from averages of our historical data.
(3) | The expected life is calculated utilizing the simplified method, which uses the mid-point between the vesting period and the contractual term as the expected life.

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock options and stock appreciation rights that were outstanding at the beginning and end of the year, exercisable at the end of the year, and the number of stock options and stock appreciation rights that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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