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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Options Outstanding

Information with respect to options outstanding is summarized as follows (in dollars):

 Schedule of Options Outstanding

						Weighted				Aggregate
		Number of				Average				Intrinsic
		Options				Exercise Price				Value
Outstanding as of December 31, 2022			1,031,000			$	1.00			$	3,609
Granted			-				-
Exercised			-				-
Cancelled			(225,000	)			1.00
Outstanding as of September 30, 2023			806,000			$	1.00			$	6,165
Vested and exercisable as of September 30, 2023			683,341			$	1.00			$	4,086
Vested and expected to vest at September 30, 2023			806,000			$	1.00			$	6,165

Schedule of Fair Value of Stock Options

 Schedule of Fair Value of Stock Options

		September 30,				December 31,
		2023				2022
Risk-free interest rate			0.00	%			0.73% - 2.96%
Expected dividend yield			-				-
Expected term in years			-				1.36 - 1.85
Expected volatility			0.00	%			50.0% - 86.3%

Schedule of Restricted Stock Award Activity

 Schedule of Restricted Stock Award Activity

						Weighted
		Number of				Average Grant
		Awards				Date Fair Value
Nonvested at December 31, 2021			-			$	-
Granted			400,000				1.48
Vested			(200,000	)			1.48
Nonvested at December 31, 2022			200,000			$	1.48
Granted			100,000				7.21
Vested			(300,000	)			3.39
Nonvested at September 30, 2023			-			$	-

Schedule of Stock-based Compensation Expense

The Company recorded stock-based compensation expense in the following categories on the accompanying consolidated statements of operations for the periods presented (in thousands):

 Schedule of Stock-based Compensation Expense

		2023				2022				2023				2022
		Three Months Ended September 30,								Nine Months Ended September 30,
		2023				2022				2023				2022
Research and development		$	16			$	261			$	432			$	377
General and administrative			782				90				1,014				1,109
Total stock-based compensation expense		$	798			$	351			$	1,446			$	1,486

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Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

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Tabular disclosure of an equity-based arrangement (such as stock or unit options and stock or unit awards) with an individual employee, which is generally an employment contract between the entity and a selected officer or key employee containing a promise by the employer to pay certain equity-based awards at future dates, sometimes including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period, the number of shares or units issued during the period under such arrangements, and the carrying amount as of the balance sheet date of the related liability.

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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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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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