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Options (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Incentive Distributions Made to Managing Members or General Partners by Distribution [Table Text Block]

The following table sets forth shares authorized and available under our incentive plans at December 31, 2024:

 

 

 

Options Authorized

 

 

Options Granted

 

 

Options Exercised

 

 

Options Cancelled or Expired

 

 

Options Outstanding

 

 

Options Available to be Issued

 

 2016 Plan

 

 

12,712

 

 

 

3,333

 

 

 

-

 

 

 

1,000

 

 

 

2,333

 

 

 

10,379

 

 2020 Plan

 

 

2,964,150

 

 

 

2,745,084

 

 

 

50,459

 

 

 

201,028

 

 

 

2,493,597

 

 

 

470,553

 

 2024 Plan

 

 

3,000,000

 

 

 

96,861

 

 

 

-

 

 

 

8,000

 

 

 

88,861

 

 

 

2,911,139

 

Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block]

The following is a summary of information about the Stock Options outstanding at December 31, 2024:

 

 

 

 

 

 

 

 

 

 

 

 

Shares Underlying

 

 

 

Shares Underlying Options Outstanding

 

 

Options Exercisable

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

 

Shares

 

 

 

 

Average

 

Weighted

 

 

Shares

 

 

Weighted

 

 

 

Underlying

 

 

 

 

Remaining

 

Average

 

 

Underlying

 

 

Average

 

 

 

Options

 

 

Range of

 

Contractual

 

Exercise

 

 

Options

 

 

Exercise

 

 

 

Outstanding

 

 

Exercise Prices

 

Life (in years)

 

Price

 

 

Exercisable

 

 

Price

 

December 31, 2023

 

 

2,620,813

 

 

$2.35 - $195.00

 

6.6

 

$

19.38

 

 

 

271,259

 

 

$

4.69

 

December 31, 2024

 

 

2,584,791

 

 

$2.35 - $40.00

 

8.35

 

$

20.06

 

 

 

552,856

 

 

$

6.56

 

Share-Based Payment Arrangement, Option, Activity [Table Text Block]

The following is a summary of activity of outstanding stock options at December 31, 2024:

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

Average

 

 

Average

 

 

 

Number

 

 

Exercise

 

 

Intrinsic

 

 

 

of Shares

 

 

Prices

 

 

Value

 

Balance, December 31, 2022

 

 

590,991

 

 

$

4.53

 

 

$

2,677,189

 

Options granted

 

 

2,050,905

 

 

 

23.55

 

 

 

 

Options cancelled

 

 

(21,083

)

 

 

(2.84

)

 

 

 

Balance, December 31, 2023

 

 

2,620,813

 

 

$

19.38

 

 

$

50,802,052

 

Options granted

 

 

118,111

 

 

 

15.37

 

 

 

 

Options exercised

 

 

(50,459

)

 

 

(3.25

)

 

 

 

Options cancelled

 

 

(88,850

)

 

 

(6.84

)

 

 

 

Options expired

 

 

(14,824

)

 

 

(9.67

)

 

 

 

Balance, December 31, 2024

 

 

2,584,791

 

 

$

20.06

 

 

$

51,844,122

 

 

 

 

 

 

 

 

 

 

 

Exercisable, December 31, 2024

 

 

552,856

 

 

$

6.37

 

 

$

3,521,693

 

Schedule of Compensation Expense Net of Forfeitures Related to Common Stock Options

The Company recognized compensation expense net of forfeitures related to common stock options that are being amortized over the implied service term, or vesting period, of the options during the twelve months ended December 31, 2024 and 2023, as follows:

 

 

 

For the Year Ended

 

 

 

December 31,

 

 

 

2024

 

 

2023

 

Directors

 

$

86,892

 

 

$

91,990

 

Officers

 

 

4,214,949

 

 

 

238,932

 

Employees

 

 

209,815

 

 

 

68,304

 

Total amortized options expense

 

$

4,511,656

 

 

$

711,037