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STOCK-BASED COMPENSATION EXPENSE (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

SCHEDULE OF STOCK BASED COMPENSATION

The Company recorded stock-based compensation for the three and nine months ended September 30, 2023 and 2022, respectively, that were included in the following line items in our condensed consolidated statements of operations (in thousands):

 SCHEDULE OF STOCK BASED COMPENSATION

		2023				2022				2023				2022
		Three months ended September 30,								Nine months ended September 30,
		2023				2022				2023				2022
Cost of revenue		$	22			$	9			$	82			$	26
Research and development			47				16				113				43
Selling			30				8				72				18
General and administrative			150				86				380				220
Total		$	249			$	119			$	647			$	307

SCHEDULE OF RESTRICTED STOCK AWARDS

The following table summarizes restricted stock awards through September 30, 2023:

 SCHEDULE OF RESTRICTED STOCK AWARDS

						Weighted
		Restricted				Average
		Awards				Exercise
		(in shares)				Price
Unvested restricted stock awards at January 1, 2023			-			$	-
Granted			29,660				6.57
Exercised			(6,699	)			6.68
Forfeited			-				-
Unvested restricted stock awards at September 30, 2023			22,961				6.53

SCHEDULE OF WEIGHTED AVERAGE ASSUMPTIONS

 SCHEDULE OF WEIGHTED AVERAGE ASSUMPTIONS

Stock price		$	14.02
Exercise price		$	14.02
Dividend yield			0	%
Expected volatility			72	%
Risk-free interest rate			3.39	%
Expected life (in years)			6.00

SCHEDULE OF STOCK OPTIONS AWARDS

The following table summarizes stock options awards through September 30, 2023:

 SCHEDULE OF STOCK OPTIONS AWARDS

						Weighted
		Stock Option				Average
		Awards				Exercise
		(in shares)				Price
Outstanding at January 1, 2023			673,000			$	5.70
Granted			254,000				14.02
Exercised			(20,625	)			4.18
Forfeited			(32,500	)			6.57
Outstanding at September 30, 2023			873,875				8.12

SCHEDULE OF OUTSTANDING AND EXERCISABLE OPTIONS RANGES OF EXERCISE PRICES

The following table summarizes information about the outstanding and exercisable options at September 30, 2023 by ranges of exercise prices:

 SCHEDULE OF OUTSTANDING AND EXERCISABLE OPTIONS RANGES OF EXERCISE PRICES

				Options Outstanding												Options Exercisable
						Weighted		Weighted										Weighted
						Average		Average										Average
Exercise				Number		Remaining		Exercise				Intrinsic				Number		Exercise				Intrinsic
Price Range				Outstanding		Contractual		Price				Value				Exercisable		Price				Value
$	4.00-7.00			487,375		8.1		$	4.56			$	1,020,173			209,375		$	4.49			$	451,941
$	7.01-10.00			20,000		4.6		$	8.07			$	-			20,000		$	8.07			$	-
$	10.01-13.00			130,000		4.3		$	11.51			$	-			120,000		$	10.52			$	-
$	13.01-16.00			236,500		9.5		$	14.11			$	-			-			-			$	-

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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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 of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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