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Share-Based Compensation
 6 Months Ended
Jun. 30, 2024
Share-Based Compensation  
Share-Based Compensation

9. Share-based Compensation

The Company uses judgment in determining the fair value of the share-based payments on the date of grant using an option-pricing model with assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, the risk-free interest rate of the awards, the expected life of the awards, the expected volatility over the term of the awards, and the expected dividends of the awards. The Company uses the Black-Scholes option pricing model to determine the fair value of share-based payments granted under the guidelines of ASC Topic 718. 

 

A summary of the stock option activity under the Company’s plans for the six months ended June 30, 2024, is as follows:


 

 

Number of shares

 

 

Weighted average exercise price

 

Options outstanding at beginning of year

 

 

607,810

 

 

$

5.03

 

Granted

 

 

—

 

 

 

—

 

Less:

 

 

 

 

 

 

 

 

Exercised

 

 

—

 

 

 

—

 

Forfeited prior to vesting

 

 

(20,000

 )

 

 

—

 

Canceled or expired

 

 

(107,500

 )

 

 

—

 

Options outstanding at June 30, 2024

 

 

480,310

 

 

 

4.52

 

Options exercisable at end of June 30, 2024

 

 

—

 

 

$

—

 

 

As of June 30, 2024, the total remaining unrecognized compensation cost related to non-vested stock options, net of forfeitures, was approximately $97, which will be recognized over a weighted average period of 2.21 years.

 

 

 

 

Three months ended June 30,

 


Six months ended June 30,

 

 

2024

 

 

2023

 


2024

2023

Cost of goods sold

 

$

2

 

 

$

1

 


$ 3

$ 3

Sales and marketing

 

 

2

 

 

 

2

 



4


4

Research and product development

 

 

12

 

 

 

11

 



25


20

General and administrative

 

 

6

 

 

 

10

 



16


20

 

 

$

22

 

 

$

24

 


$ 48

$ 47