XML 46 R31.htm IDEA: XBRL DOCUMENT
v3.24.2

STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
SCHEDULE OF STOCK OPTION GRANTED MEASURED USING BLACK SCHOLES VALUATION | The fair value of the stock options granted was measured using the Black-Scholes valuation model with the following assumptions: SCHEDULE OF STOCK OPTION GRANTED MEASURED USING BLACK SCHOLES VALUATION
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |
Expected term (years) |  | 5.0 - 6.0 |  |  | 5.5 |
Risk-free interest rate |  | 3.5% - 4.4% |  |  | 2.9% |
Expected volatility |  | 110.0% - 112.1% |  |  | 31.1% |
Expected dividends |  | 0.0% |  |  | 0.0% |
SUMMARY OF STOCK OPTION ACTIVITY | A summary of stock option activity for the year ended December 31, 2023 is presented below: SUMMARY OF STOCK OPTION ACTIVITY
|  | Stock options |  |  | Weighted average exercise price |  |  | Weighted average remaining contractual term |  |  | Aggregate intrinsic value |
Outstanding as of January 1, 2023 |  |  | 670,667 |  |  | $ | 5.45 |  |  |  |  |  |  |  |  |
Granted |  |  | 97,500 |  |  |  | 5.80 |  |  |  |  |  |  |  |  |
Exercised |  |  | (15,000 | ) |  |  | 3.31 |  |  |  |  |  |  |  |  |
Forfeited/Expired |  |  | (47,000 | ) |  |  | 6.16 |  |  |  |  |  |  |  |  |
Outstanding as of December 31, 2023 |  |  | 706,167 |  |  | $ | 5.49 |  |  |  | 5.50 |  |  | $ | 1,262 |
Exercisable as of December 31, 2023 |  |  | 611,167 |  |  | $ | 5.45 |  |  |  | 4.90 |  |  | $ | 1,147 |
SCHEDULE OF WEIGHTED AVERAGE GRANT DATE FAIR VALUE OF OPTIONS | SCHEDULE OF WEIGHTED AVERAGE GRANT DATE FAIR VALUE OF OPTIONS
|  | 2023 |  |  | 2022 |
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |
Weighted-average fair value of options granted (per share) |  | $ | 0.97 |  |  | $ | 1.09 |
Intrinsic value gain (loss) of options exercised |  |  | 52 |  |  |  | (6 | )
Cash receipts from exercise of options |  |  | 50 |  |  |  | 17 |
SCHEDULE OF INFORMATION RELATED TO OPTIONS OUTSTANDING AND EXERCISABLE | The following table presents information related to stock options as of December 31, 2023: SCHEDULE OF INFORMATION RELATED TO OPTIONS OUTSTANDING AND EXERCISABLE
| Options outstanding |  |  |  | Options exercisable |
|  |  |  |  | Outstanding |  |  |  | Weighted average |  |  |  | Exercisable |
|  |  |  |  | number of |  |  |  | remaining life |  |  |  | number of |
| Exercise price |  |  |  | options |  |  |  | in years |  |  |  | options |
$ | 1.68 |  |  |  | 50,000 |  |  |  | 6.2 |  |  |  | 50,000 |
$ | 3.17 |  |  |  | 27,000 |  |  |  | 8.4 |  |  |  | 27,000 |
$ | 3.31 |  |  |  | 221,667 |  |  |  | 7.4 |  |  |  | 221,667 |
$ | 3.68 |  |  |  | 5,000 |  |  |  | 2.2 |  |  |  | 5,000 |
$ | 5.25 |  |  |  | 70,000 |  |  |  | 0.0 |  |  |  | - |
$ | 5.60 |  |  |  | 6,000 |  |  |  | 4.3 |  |  |  | 6,000 |
$ | 6.10 |  |  |  | 10,000 |  |  |  | 0.0 |  |  |  | - |
$ | 7.25 |  |  |  | 5,000 |  |  |  | 0.0 |  |  |  | - |
$ | 7.30 |  |  |  | 236,000 |  |  |  | 3.2 |  |  |  | 236,000 |
$ | 7.49 |  |  |  | 2,500 |  |  |  | 9.5 |  |  |  | 2,500 |
$ | 7.61 |  |  |  | 2,500 |  |  |  | 0.0 |  |  |  | - |
$ | 8.27 |  |  |  | 5,000 |  |  |  | 0.0 |  |  |  | - |
$ | 8.50 |  |  |  | 2,500 |  |  |  | 0.0 |  |  |  | - |
$ | 8.98 |  |  |  | 6,000 |  |  |  | 1.2 |  |  |  | 6,000 |
$ | 10.21 |  |  |  | 57,000 |  |  |  | 0.2 |  |  |  | 57,000 |
|  |  |  |  | 706,167 |  |  |  |  |  |  |  | 611,167 |
SCHEDULE OF RESTRICTED STOCK UNITS | A summary of restricted stock unit (“RSU”) activity during the year ended December 31, 2023 is as follows: SCHEDULE OF RESTRICTED STOCK UNITS
|  |  |  |  | Weighted-average |  |  | Weighted-average |
|  |  |  |  | grant-date |  |  | grant-date |
|  | Number of units |  |  | fair value per share |  |  | fair value |
Unvested restricted stock units as of January 1, 2023 |  |  | 250,000 |  |  | $ | 4.35 |  |  | $ | 1,087 |
Units granted |  |  | 100,000 |  |  |  | 5.75 |  |  |  | 575 |
Units vested |  |  | (225,000 | ) |  |  | 4.97 |  |  |  | (1,119 | )
Units forfeited |  |  | - |  |  |  | - |  |  |  | - |
Unvested restricted stock units as of December 31, 2023 |  |  | 125,000 |  |  | $ | 4.35 |  |  | $ | 543 |

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

X
- Definition Tabular disclosure of the total intrinsic value of options exercised (or share units converted), share-based liabilities paid, and the total fair value of shares vested during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (d)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -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
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References No definition available. + Details
Name: | us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration