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Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2025

Summary of Warrant Activity

The following table summarizes the warrants issued and outstanding as of March 31, 2025:

Warrants Issued and Outstanding as of March 31, 2025

Date of

Exercise

Shares of

Description

Issuance

Expiration

Common Stock

Exercisable Warrants

10/19/2020

3/19/2028

$

1.50

500,000

Exercisable Warrants

10/19/2021

3/19/2028

$

1.50

350,000

Total warrants issued and outstanding (Unaudited)

850,000

Summary of Stock Option Activity

The following table summarizes the stock option activity for the three months ended March 31, 2025:

		Stock Options
								Weighted-
						Exercise		Average
		Number				Price Per		Exercise Price
		of Shares				Share		Per Share
Outstanding at December 31, 2024			2,511,449			$1.17 — $10.32		$	3.28
Cancelled/Forfeited			(9,001	)		$4.08  — $7.63		$	6.71
Outstanding at March 31, 2025 (Unaudited)			2,502,448			$1.17 — $10.32		$	3.26

Deferred Stock Units [Member]

Summary of Stock Option Outstanding

The following table summarizes DSU activity for the three months ended March 31, 2025:

		Deferred Stock Units
						Weighted-
						Average
		Number				Grant Date
		of Units				Fair Value
Outstanding at December 31, 2024			251,101			$	4.77
Granted			21,938			$	2.91
Outstanding at March 31, 2025 (Unaudited)			273,039			$	4.62

Restricted Stock Units [Member]

Summary of Stock Option Activity

The following table summarizes RSU activity for the three months ended March 31, 2025:

		Restricted Stock Units
						Weighted-
						Average
		Number				Grant Date
		of Units				Fair Value
Outstanding and unvested at December 31, 2024			218,045			$	8.16
Granted			246,800			$	3.85
Less: Forfeited			(2,000	)		$	8.35
Outstanding at March 31, 2025 (Unaudited)			462,845			$	5.86

Performance Stock Units [Member]

Summary of Stock Option Activity

The following table summarizes performance stock unit (“PSU”) activity for the three months ended March 31, 2025:

		Performance Stock Units
						Weighted-
						Average
		Number				Grant Date
		of Units				Fair Value
Outstanding at December 31, 2024			130,000			$	7.57
Granted			313,650			$	3.85
Less: Forfeited			(30,000	)		$	7.57
Outstanding at March 31, 2025 (Unaudited)			413,650			$	4.75

X

- Definition

Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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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.

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Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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