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Stock-Based Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Share-Based Payment Arrangement, Option, Activity
Stock options activity was as follows:
Number
of option shares
Weighted-
average
exercise price
Weighted-average remaining contractual term
Outstanding, December 31, 2022
319,650 $3.00 6.15
Granted192,750 2.06 
Exercised— — 
Forfeited/canceled(25,150)2.55 
Outstanding, December 31, 2023
487,250 2.65 5.59
Granted190,450 1.80 
Exercised— — 
Forfeited/canceled(36,100)2.25 
Outstanding, December 31, 2024
641,600 $2.42 5.00
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions The assumptions used in the Black-Scholes valuation to determine the FV of stock options were as follows at December 31:
20242023
Expected term (in years)5.695.71
Expected volatility67.89 %65.87 %
Risk free interest rate4.24 %3.45 %
Expected dividend yield— — 
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity
Restricted stock activity was as follows:
Number of shares
Weighted-average grant-date
fair value
Nonvested, December 31, 2022
395,751 4.29 
Granted34,250 1.93 
Vested/released(157,360)5.73 
Forfeited/canceled(12,075)3.63 
Nonvested, December 31, 2023
260,566 3.14 
Granted50,500 1.71 
Vested/released(169,991)3.37 
Forfeited/canceled(1,250)3.56 
Nonvested, December 31, 2024
139,825 2.34