XML 23 R12.htm IDEA: XBRL DOCUMENT v3.25.2
Stockholders’ Equity
 6 Months Ended
Jun. 30, 2025
Stockholders’ Equity [Abstract]  
STOCKHOLDERS’ EQUITY

Note 6. STOCKHOLDERS’ EQUITY

 

Common Stock – Issuance of Securities

 

The Company issued 12,950 and 7,942 shares of common stock in payment of director fees totaling $39,000 and $38,000 for the three months ended June 30, 2025 and 2024, respectively, and 22,135 and 20,265 shares totaling $78,000 and $76,000 for the six months ended June 30, 2025 and 2024, respectively.

 

During the third quarter of 2025, the Company issued 4,064 shares of common stock in payment of directors’ fees totaling $14,000.

 

During the second quarter of 2025, the Company issued 57,192 shares of common stock upon the vesting of Restricted Stock Units (“RSUs”) to certain employees. The balance of the units vested were withheld to satisfy the withholding tax required to be paid on the 95,210 Restricted Share Units which vested.

 

Common Stock – Sale of Securities

 

The Company sold and issued 97,866 and 307,806 shares during the three and six months ended June 30, 2025, respectively, pursuant to a Registration Statement on Form S-3 declared effective on December 19, 2024. The gross proceeds for the three and six months ended June 30, 2025 were $340,000 and $1,243,000, respectively, and the costs associated with sales during those periods was $10,000 and $59,000, respectively.

 

In July 2025, the Company sold and issued an additional 905,787 shares for gross proceeds of $3,623,000.