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Shareholders’ Equity | 9 Months Ended
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Sep. 30, 2025
Equity [Abstract] |
Shareholders’ Equity | Note 7: Shareholders’ Equity Public Offering of Common Stock On July 30, 2025, the Company entered into an underwriting agreement (the “UA”) with Craig-Hallum Capital Group, in its capacity as underwriter, relating to the issuance and sale of 6,052,000 shares of the Company’s Common Stock at a price of $0.95 per share. The closing of the Offering occurred on August 1, 2025. Total gross proceeds from the Offering were $5,749,400. Net proceeds, after legal expenses, underwriting discounts and offering expenses, were $4,940,690. The Company intends to use the proceeds for working capital and general corporate purposes, such as product development, sales and marketing. Joseph Hazelton, our President and Chief Operating Officer, purchased 26,000 shares of the Company’s Common Stock in the Offering at the public offering price. In consideration for Craig-Hallum serving as the underwriter of the Offering, the Company paid the Underwriter a cash fee equal to 7% of the aggregate gross proceeds raised in the Offering, reimbursed the Underwriter for certain expenses and legal fees in the amount of $75,000, and issued the Underwriter Warrants. Issuances of Common Stock Related to Stock Options and RSU’s For the nine months ended September 30, 2025, there were 272,516 shares issued from the vesting of restricted stock units with a weighted average issue price of $1.68 per share and 27,483 shares issued from the exercise of stock options. For the nine months ended September 30, 2024, there were 778,310 shares of the Company’s Common Stock issued with a weighted average issue price of $1.63 per share, including 335,195 shares from the converted Convertible Notes, 437,546 shares from the vesting of restricted stock units, and 5,569 shares from the exercise of stock options. Treasury Stock As of September 30, 2025, there were 12,253,502 shares of Common Stock held in treasury, at a cost of $18.9 million, representing the purchase price on the date the shares were surrendered to the Company.

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