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Stock Options | 12 Months Ended
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Dec. 31, 2024
Equity [Abstract] |
Stock Options | Note 14: Stock Options On August 27, 2020, the Company’s stockholders approved the adoption of the Kartoon Studios, Inc. 2020 Equity Incentive Plan (as amended, the ”2020 Plan”). The 2020 Plan replaced the previously adopted 2015 Incentive Plan (the “2015 Plan”). The maximum number of shares available for issuance was initially equal to the sum of (i) 3,000,000 shares of common stock and (ii) the number of shares of common stock remaining available for issuance under the 2015 Plan, which was then equal to 216,767 shares. On May 23, 2023, the Company’s stockholders approved the adoption of an Amended and Restated 2020 Equity Incentive Plan, which provided for the maximum number of shares of common stock available for issuance under the 2020 Plan to be increased by 5,000,000 shares. The remaining 12,000 outstanding stock options granted under the 2015 Plan, as of December 31, 2024, remain to be governed under such plan. During the years ended December 31, 2024 and December 31, 2023, the Company granted options to purchase 35,000 and 25,000 shares of common stock with weighted-average grant-date fair market values of $24,210 and $9,007, respectively. The fair value of the options granted during the years ended December 31, 2024 and December 31, 2023 were calculated using the BSM option pricing model based on the following assumptions:
Schedule of assumptions used |  |  |  |  |  |  |  |
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |
Exercise Price |  | $ | 0.95 |  |  | $ | 1.43 |
Dividend Yield |  |  | –% |  |  |  | –% |
Volatility |  |  | 92.13% |  |  |  | 98.78% |
Risk-free interest rate |  |  | 4.26% |  |  |  | 3.90% |
Expected life of options |  |  | 5.0 years |  |  |  | 5.0 years |
The following table summarizes the stock option activity during the years ended December 31, 2024 and 2023:
Schedule of option activity |  |  |  |  |  |  |  |  |  |  |  |
|  | Number of Shares |  |  | Weighted-Average Remaining Contractual Life |  |  | Weighted- Average Exercise Price |
Outstanding at December 31, 2022 |  |  | 1,351,421 |  |  |  | 6.49 |  |  | $ | 15.09 |
Granted |  |  | 25,000 |  |  |  | 4.96 |  |  |  | 1.43 |
Exercised |  |  | – |  |  |  | – |  |  |  | – |
Forfeited/Cancelled |  |  | (175,497 | ) |  |  | – |  |  |  | – |
Expired |  |  | (17,016 | ) |  |  | – |  |  |  | – |
Outstanding at December 31, 2023 |  |  | 1,183,908 |  |  |  | 5.56 |  |  | $ | 14.96 |
Granted |  |  | 35,000 |  |  |  | 4.47 |  |  | $ | 0.95 |
Exercised |  |  | – |  |  |  | – |  |  |  | – |
Forfeited/Cancelled |  |  | (260,968 | ) |  |  | – |  |  |  | – |
Expired |  |  | (5,800 | ) |  |  | – |  |  |  | – |
Outstanding at December 31, 2024 |  |  | 952,140 |  |  |  | 4.79 |  |  | $ | 12.72 |
Unvested at December 31, 2024 |  |  | 94,166 |  |  |  | 4.11 |  |  | $ | 4.48 |
Vested and exercisable December 31, 2024 |  |  | 857,974 |  |  |  | 4.87 |  |  | $ | 13.62 |
During the years ended December 31, 2024 and December 31, 2023, the Company recognized $0.2 million and $1.2 million, respectively, in share-based compensation expense related to stock options included in General and Administrative Expense on the Company’s consolidated statements of operations. The unrecognized share-based compensation expense as of December 31, 2024 was $0.02 million which will be recognized through the 2025 assuming the underlying grants are not cancelled or forfeited. The outstanding shares as of December 31, 2024 had an aggregated intrinsic value of zero. During the year ended December 31, 2023, upon termination of certain employees, the Company accelerated the vesting of any unvested options held by the employees pursuant to their employment agreements. This resulted in 98,850 options becoming immediately vested on the separation date and $0.2 million in expense recognized by the Company.

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- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent + Details
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