XML 28 R17.htm IDEA: XBRL DOCUMENT
v3.24.1.1.u2

Stock-Based Compensation | 3 Months Ended
--- | ---
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation | 11. Stock-Based Compensation From time to time, we issue stock options and restricted stock as compensation for services rendered by our directors and employees. Restricted Stock On March 19, 2024, we granted 127,500 shares of restricted common stock to certain employees. The grants of restricted common stock were made in accordance with the 2015 Plan and were subject to vesting, as follows: 42,495 shares vested on March 19, 2024; 42,495 shares vest on April 2, 2025, and 42,510 shares vest on April 2, 2026. Stock compensation of $397,901 was recorded on the issuance of the common stock for the three months ended March 31, 2024. Stock Options We did not make any stock option grants during the three months ended March 31, 2024 or 2023. A summary of stock option activity during the three months ended March 31, 2024 and 2023 is as follows: Schedule of Stock Options Activity
|  |  |  |  |  |  |  | Weighted- |  |  |
|  |  |  |  | Weighted- |  |  | Average |  |  |
|  | Shares |  |  | Average |  |  | Remaining |  | Aggregate |
|  | Under |  |  | Exercise |  |  | Contractual |  | Intrinsic |
|  | Option |  |  | Price |  |  | Life |  | Value |
Outstanding at January 1, 2024 |  |  | 357,887 |  |  | $ | 5.69 |  |  | 8 years |  | $ | - |
Forfeited |  |  | (5,000 |  |  |  | 4.00 |  |  |  |  |  |  |
Outstanding at March 31, 2024 |  |  | 357,887 |  |  | $ | 5.69 |  |  | 7 years |  | $ | - |
Exercisable at March 31, 2024 |  |  | 186,594 |  |  | $ | 5.60 |  |  | 7 years |  | $ | - |
|  |  |  |  |  |  |  | Weighted- |  |  |
|  |  |  |  | Weighted- |  |  | Average |  |  |
|  | Shares |  |  | Average |  |  | Remaining |  | Aggregate |
|  | Under |  |  | Exercise |  |  | Contractual |  | Intrinsic |
|  | Option |  |  | Price |  |  | Life |  | Value |
Outstanding at January 1, 2023 |  |  | 365,447 |  |  | $ | 5.89 |  |  | 8 years |  | $ | 19,200 |
Forfeited |  |  | (5,000 | ) |  |  | 4.00 |  |  |  |  |  |  |
Outstanding at March 31, 2023 |  |  | 360,447 |  |  | $ | 5.92 |  |  | 8 years |  | $ | 19,200 |
Exercisable at March 31, 2023 |  |  | 92,860 |  |  | $ | 6.50 |  |  | 7 years |  | $ | 19,200 |
During the three months ended March 31, 2024 and 2023, stock-based compensation for options was $115,456 and $118,162, respectively. As of March 31, 2024 and December 31, 2023, there was $432,525 and $547,981, respectively, of total unrecognized compensation costs related to stock options granted under our stock option agreements. The unrecognized compensation cost is expected to be recognized over a weighted-average period of one year. The total fair value of stock options that vested during the three months ended March 31, 2024 and 2023 was $0 and $10,238, respectively.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration