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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Restricted Stock Unit, Time-Based and Performance-Based Activity

A summary of restricted stock unit activity during the six-months ended June 30, 2024 and 2023 is presented below:

Summary of Restricted Stock Unit, Time-Based and Performance-Based Activity

		Time-Based								Performance-Based
		Number of Restricted Stock Units				Weighted Average Grant Date Fair Value				Number of Restricted Stock Units				Weighted Average Grant Date Fair Value
Restricted stock units outstanding at June 30, 2023			3,675,000			$	10.00				2,000,000			$	7.91
Granted			-				-				-				-
Exercised			-				-				-				-
Expired			-				-				-				-
Restricted stock units outstanding at December 31, 2023			3,675,000			$	10.00				2,000,000			$	7.91
Granted			295,000				8.71				-				-
Exercised			-				-				-				-
Expired			-				-				-				-
Forfeited			(100,000	)			10.00				-				-
Restricted stock units outstanding at June 30, 2024			3,870,000			$	9.90				2,000,000			$	7.91
Restricted stock units at June 30, 2023			-			$	-				-			$	-
Restricted stock units at June 30, 2024			-			$	-				-			$	-

Schedule of Stock Option Activity

A summary of stock option activity during the six-months ended June 30, 2024 and 2023 is presented below:

Schedule of Stock Option Activity

		Number of Shares				Weighted Average Exercise Price				Weighted Average Remaining Contractual Life (in Years)
Stock options outstanding at January 1, 2023			1,067,356			$	1.22				4.83
Granted			-				-				-
Exercised			-				-				-
Expired			-				-				-
Stock options outstanding at June 30, 2023			1,067,356			$	1.22				4.83
Granted			1,018,012				1.66				7.00
Exercised			-				-				-
Expired			-				-				-
Stock options outstanding at December 31, 2023			2,085,368			$	1.43				5.47
Granted			1,451,737				3.50				7.00
Exercised			(6,752	)			-				-
Expired			(3,636	)			-				-
Stock options outstanding at June 30, 2024			3,526,717				2.28				5.92
Stock options exercisable at June 30, 2023			519,350			$	1.26				4.79
Stock options exercisable at June 30, 2024			756,886			$	2.28				5.92

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- References

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- Definition

Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

+ References

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