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Stockholders’ Equity
 9 Months Ended
Sep. 30, 2025
Stockholders’ Equity [Abstract]  
STOCKHOLDERS’ EQUITY

Note 6. STOCKHOLDERS’ EQUITY

 

Common Stock – Issuance of Securities

 

The Company issued 4,064 and 12,252 shares of common stock in payment of director fees totaling $14,000 and $40,000 for the three months ended September 30, 2025 and 2024, respectively, and 26,199 and 32,517 shares totaling $92,000 and $116,000 for the nine months ended September 30, 2025 and 2024, respectively.

 

During October of 2025, the Company issued 3,823 shares of common stock in payment of directors’ fees totaling $12,000.

 

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

 

In connection with its ATM offering, the Company sold and issued 905,787 and 1,213,593 shares during the three and nine months ended September 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 nine months ended September 30, 2025 were $3,626,000 and $4,869,000, respectively, and the costs associated with sales during those periods was $169,000 and $229,000, respectively.