XML 40 R27.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2024
Stockholders' Equity [Abstract]  
Schedule of Outstanding Stock Warrants The Company recognized stock-based compensation expense during the three and six months ended June 30, 2024 and 2023, as follows:
   For the three-months ended
June 30,
   For the six-months ended
June 30,
 
   2024   2023   2024   2023 
Performance-based restricted stock awards  $20,173   $166,779   $76,155   $333,558 
Service-based restricted stock awards   854,866    19,997    7,035,394    49,992 
Stock issued to consultants   -    -    -    307,069 
Warrant expense   -    500,500    -    1,001,000 
Option expense*   178,209    
-
    (1,156,818)   
-
 
Total stock-based compensation**  $1,053,248   $687,276   $5,954,731   $1,691,619 
*The option expense for the six-month period to June 30, 2024 contains a reversal of stock-based compensation expenses from 2023 for cancelled option awards, offset by option expense incurred during the period.
**Stock-based compensation expense in the consolidated, condensed unaudited statement of operations includes $5.95 million of stock-based compensation, less $0.93 million for surrendered shares.

 

Schedule of Service-Based Awards Activity The following table presents a summary of the Company’s performance-based awards restricted stock awards activity:
   Number of
shares
   Weighted
Average
Remaining
Contractual
Life
(in years)
 
Outstanding as of December 31, 2023   75,545    8.58 
Expired/forfeited   (3,444)   - 
Outstanding as of June 30, 2024   72,101    8.06 
Exercisable as of June 30, 2024   61,617    6.91 
The following table presents a summary of the Company’s service-based awards activity:
   Number of
shares
   Weighted
Average
Remaining
Contractual
Life
(in years)
 
Outstanding as of December 31, 2023   5,242,393    2.28 
Issued   3,505,383    - 
Exercised   (1,482,226)   - 
Outstanding as of June 30, 2024   7,265,550    1.48 
Exercisable as of June 30, 2024   135,199    0.02 
The following table presents a summary of the Company’s Stock options awards activity:
   Number of
shares
   Weighted
Average
Exercise
Price
   Weighted
Average
Remaining
Contractual
Life
(in years)
   Aggregate
Intrinsic
Value
 
Outstanding as of December 31, 2023   3,500,417   $1.23    9.70   $6,923,000 
Cancelled   (1,750,000)   0.94    -    
-
 
Outstanding as of June 30, 2024   1,750,417   $0.56    9.40   $1,533,000 
Exercisable as of June 30, 2024   417   $0.01    -   $
-