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STOCK BASED AWARDS | 3 Months Ended
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Mar. 31, 2025
Share-Based Payment Arrangement [Abstract] |
STOCK BASED AWARDS | NOTE 6. STOCK BASED AWARDS Stock-based compensation expense was reported as follows in the condensed consolidated statements of operations within general and administrative expenses of $118 and $80 for the three months ended March 31, 2025 and 2024, respectively. Stock Options Under the 2017 Stock Incentive Plan (“2017 Plan”), as amended, there are an aggregate of 775,000 shares authorized for issuance. We did not grant service-based stock options during the three months ended March 31, 2025. Weighted average stock option fair value assumptions and the weighted average grant date fair value of stock options granted during the three months ended March 31, 2024 were as follows: SCHEDULE OF WEIGHTED AVERAGE GRANT DATE FAIR VALUE OF STOCK OPTIONS GRANTED
|  | 2024 |
Stock option fair value assumptions: |  |  |  |
Risk-free interest rate |  |  | 3.45-4.34% |
Expected life (years) |  |  | 6.5 |
Dividend yield |  |  | -% |
Expected volatility |  |  | 60 | %
Weighted average grant date fair value of stock options granted |  | $ | 5.73 |
Total compensation expense related to stock options was $54 and $56 for the three months March 31, 2025 and 2024, respectively. As of March 31, 2025, there was $621 of unrecognized compensation related to stock options which will be recognized over a weighted average period of 2.25 years. Following is a summary of stock option activity as of and for the three months ended March 31, 2025 and 2024: SCHEDULE OF OPTION ACTIVITY
|  | Shares |  |  | Weighted- Average Exercise Price Per Share |  |  | Weighted- Average Remaining Contractual Term (in years) |  |  | Aggregate Intrinsic Value |
Outstanding – December 31, 2023 |  |  | 458,700 |  |  | $ | 6.63 |  |  |  | 6.53 |  |  | $ | 1,432 |
Granted |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Exercised |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Forfeited |  |  | (6,200 | ) |  |  | 11.10 |  |  |  |  |  |  |  |  |
Outstanding – March 31, 2024 |  |  | 452,500 |  |  | $ | 6.57 |  |  |  | 6.57 |  |  | $ | 3,066 |
Outstanding – December 31, 2024 |  |  | 453,400 |  |  | $ | 6.79 |  |  |  | 5.70 |  |  | $ | 1,654 |
Granted |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Exercised |  |  | (200 | ) |  |  | 9.37 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (4,400 | ) |  |  | 8.98 |  |  |  |  |  |  |  |  |
Outstanding – March 31, 2025 |  |  | 448,800 |  |  | $ | 6.77 |  |  |  | 5.45 |  |  | $ | 1,508 |
Exercisable on March 31, 2025 |  |  | 298,200 |  |  | $ | 5.13 |  |  |  | 4.20 |  |  | $ | 1,458 |
Restricted Stock Units During the periods ended March 31, 2025 and 2024, we did not grant restricted stock units (“RSUs”). Total compensation expense related to the RSUs was $64 and $24 for the three months ended March 31, 2025 and 2024, respectively. As of March 31, 2025, total unrecognized compensation expense related to the RSUs was $23, which will vest over a weighted average period of 0.25 years. Following is a summary of RSU activity as of and for the three months ended March 31, 2025 and 2024: SCHEDULE OF RESTRICTED STOCK ACTIVITY
|  | Shares |  |  | Weighted- Average Remaining Vesting Term (in years) |  |  | Aggregate Intrinsic Value |
Outstanding – December 31, 2023 |  |  | 27,000 |  |  |  | 1.0 |  |  | $ | 254 |
Granted |  |  | - |  |  |  |  |  |  |  |  |
Vested |  |  | (15,000 | ) |  |  |  |  |  |  |  |
Forfeited |  |  | - |  |  |  |  |  |  |  |  |
Outstanding – March 31, 2024 |  |  | 12,000 |  |  |  | 1.0 |  |  | $ | 160 |
Outstanding – December 31, 2024 |  |  | 24,141 |  |  |  | 0.3 |  |  | $ | 248 |
Granted |  |  | - |  |  |  |  |  |  |  |  |
Vested |  |  | - |  |  |  |  |  |  |  |  |
Forfeited |  |  | - |  |  |  |  |  |  |  |  |
Outstanding – March 31, 2025 |  |  | 24,141 |  |  |  | 0.1 |  |  | $ | 239 |

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