XML 23 R12.htm IDEA: XBRL DOCUMENT v3.25.1
Shareholders' Equity
 3 Months Ended
Mar. 31, 2025
Shareholders' Equity  
Shareholders' Equity

7. Shareholders' Equity

 

 

 

Three months ended March 31,

 

 

 

2025

 

 

2024

 

Common stock and additional paid-in capital

 

 

 

 

 

 

 

 

Balance, beginning of period

 

$

31,696

 

 

$

46,071

 

Dividends declared

 


—

 


(14,496

)
Issuance of common stock, net

1,000


—

Share-based compensation expense

 

 

23

 

 

 

26

 

Proceeds from employee stock purchase plan

 

 

7

 

 

7

 

Balance, end of period

 

$

32,726

 

 

$

31,608

 

 

 

 

 

 

 

 

 

 

Accumulated other comprehensive loss

 

 

 

 

 

 

 

 

Balance, beginning of period

 

$

(306

 )

 

$

(310

 )

Unrealized loss on available-for-sale securities, net of tax 

 

 

—

 

 

22

Foreign currency translation adjustment

 

 

(13

 )

 

 

(2

 )

Balance, end of period

 

$

(319

 )

 

$

(290

 )

 

 

 

 

 

 

 

 

 

Accumulated deficit 

 

 

 

 

 

 

 

 

Balance, beginning of period

 

$

(10,059

 )

 

$

(1,076

 )

Net loss

 

 

(2,834

 )

 

 

(1,898

)

Balance, end of period

 

$

(12,893

 )

 

$

(2,974

)

 

 

 

 

 

 

 

 

 

Total shareholders' equity

 

$

19,514

 

 

$

28,344

 

 

Issue of Common Stock


On February 26, 2025 the Company entered into a securities purchase agreement with Edward D. Bagley, pursuant to which the Company agreed to issue and sell, in a private placement at-the-market offering of 2,000,000 shares of the Company’s common stock, par value $0.001 per share, at a purchase price of $0.50 per share of Common Stock. The Company received $1,000 in cash in connection with the sale. Mr. Bagley is an affiliate of the Company and the Company’s single largest stockholder