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NONVESTED SHARES | 12 Months Ended
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Dec. 31, 2025
NONVESTED SHARES |
NONVESTED SHARES | 11. NONVESTED SHARES ​ In 2023, the Company granted 298,000 nonvested shares to certain officers and employees. 126,000 of these shares vested immediately, 20,000 of these shares vest over a period of one year and 152,000 of these shares vest over a period of two years. ​ In 2024, the Company granted 254,000 nonvested shares to certain employees. 204,000 of these shares vested immediately, 24,000 of these shares vest over a period of ten months and 26,000 of these shares vest over a period of one year. ​ In 2025, the Company granted 565,068 nonvested shares to certain employees. 529,068 of these shares vested immediately, 36,000 of these shares vest over a period of one year. ​ The holders of the nonvested shares are entitled to voting rights, but shall not be entitled to dividends before vesting. ​ The following table summarizes information regarding the nonvested shares granted and vested: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | ​ | ​ ​ ​ | Weighted average
​ | ​ | ​ | ​ | grant date
​ | ​ | Number of Shares | ​ | fair value
​ | ​ | ​ | ​ | ​ | ​
Outstanding at January 1, 2025 |  | 104,000 | ​ | $ | 0.49
Granted |  | 565,068 | ​ | $ | 0.13
Forfeited |  | (20,000) | ​ | $ | 0.17
Vested |  | (613,068) | ​ | $ | 0.39
Outstanding at December 31, 2025 |  | 36,000 | ​ | $ | 0.25
​ For the years ended December 31, 2023, 2024 and 2025, the Group recorded share-based compensation expenses of $134, $258 and $72 related to the nonvested shares, respectively. As of December 31, 2025, there was $8 of unrecognized compensation costs related to nonvested shares, which are expected to be recognized over a weighted average period of one year. ​ Total share-based compensation expenses for share options and nonvested shares for the years ended December 31, 2023, 2024 and 2025 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years ended December 31,
​ | ​ ​ ​ | 2023 | ​ ​ ​ | 2024 | ​ ​ ​ | 2025
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Selling and marketing | ​ | $ | 34 | ​ | $ | 89 | ​ | $ | 20
General and administrative | ​ |  | 381 | ​ |  | 256 | ​ |  | 72
Total | ​ | $ | 415 | ​ | $ | 345 | ​ | $ | 92
​

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