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Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table

PAY VERSUS PERFORMANCE

 

The following table provides information required by Item 402(v) of Regulation S-K. The Compensation Committee does not in practice use “compensation actually paid” as the basis for making compensation decisions. The below disclosure is provided only to comply with applicable SEC rules. For information regarding the Company’s pay-for-performance philosophy and how the Company aligns executive compensation with the Company’s performance, refer to “Compensation of our Executive Officers.”

 

 

Summary

Compensation

Average

Average

Value of Initial

  
 

Compensation

Actually Paid to

Summary

Compensation

Fixed $100

  
 

Table Total for

PEO(3)

Compensation

Actually Paid to

Investment

  

Year

PEO(1)

  

Table Total for

non-PEO

Based On

Net Loss
     

non-PEO

Named

Total

  
     

Named

Executive

Shareholder

  
     

Executive

Officers(2)(3)

Return (4)

  
     

Officers(2)

      
2024 $1,039,797 $1,077,080 $448,670 $434,734 $39.77 $5,809,159

2023

$1,044,244

$1,112,177

$424,939

$472,382

$29.93

$6,795,461

2022

$1,372,136

($435,858)

$466,034

$60,130

$22.86

$9,735,258

 

Notes:

(1)

For each of the years presented, the principal executive officer (“PEO”) is Mark Emalfarb.

(2)

For each of the years presented, our non-PEO named executive officers (“NEOs”) were Ping Rawson and Joseph Hazelton.

(3)

Compensation “actually paid” is calculated in accordance with Item 402(v) of Regulation S-K. The tables below set forth each adjustment made during each year presented in the table to calculate the compensation “actually paid” to our NEOs during each year in the table:
   
PEO Total Compensation Amount $ 1,039,797 $ 1,044,244 $ 1,372,136
PEO Actually Paid Compensation Amount $ 1,077,080 1,112,177 (435,858)
Adjustment To PEO Compensation, Footnote

 

   

2024

  
   

PEO

    

Average for Non-PEO NEOs

  

Deduction for amounts reported under the “Stock Awards” column in the Summary Compensation Table

                

Deduction for amounts reported under the “Option Awards” column in the Summary Compensation Table

     (198,122 )     (85,850 )

Increase for fair value of awards granted during covered year that remain outstanding and unvested as of covered year end

     216,645       91,756  

Increase for fair value of awards granted during covered year that vested during covered year

     -       -  

Increase/deduction for change in fair value from prior year-end to covered year-end of awards granted prior to covered year that were outstanding and unvested as of year-end

     14,028       5,805  

Increase/deduction for change in fair value from prior year-end to vesting date of awards granted prior to covered year that vested during covered year

     4,732       1,924  

Deduction of fair value of awards granted prior to covered year that were forfeited during covered year

     -    

 

(27,571

 

 )

Increase based upon incremental fair value of awards modified during year

     -       -  

Total Adjustments

     37,283       (13,936 )

Total Compensation

     1,039,797       448,670  

Compensation Actually Paid

     1,077,080       434,734  

 

(4)

Assumes $100 invested in our shares of common stock on December 31, 2020.

 

 

    
Non-PEO NEO Average Total Compensation Amount $ 448,670 424,939 466,034
Non-PEO NEO Average Compensation Actually Paid Amount $ 434,734 472,382 60,130
Compensation Actually Paid vs. Total Shareholder Return

Relationship Between “Compensation Actually Paid” and Total Shareholder Return

 

The following chart below addresses the relationship between compensation “actually paid” as disclosed in the Pay vs. Performance Table and the Company’s cumulative total shareholder return (“TSR”).

 

graph001.jpg
 
    
Total Shareholder Return Amount $ 39.77 29.93 22.86
Net Income (Loss) 5,809,159 $ 6,795,461 $ 9,735,258
PEO      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 37,283    
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (198,122)    
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 216,645    
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 14,028    
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 4,732    
PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
PEO | Increase Based Upon Incremental Fair Value of Awards Modified During Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (85,850)    
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 91,756    
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 5,805    
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 1,924    
Non-PEO NEO | Increase Based Upon Incremental Fair Value of Awards Modified During Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 0