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Stockholders' Equity | 6 Months Ended
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Jun. 30, 2025
Stockholders' Equity |
Stockholders' Equity | 11. Stockholders’ Equity. Stock-Based Compensation. The Company’s stock-based compensation plans are administered by the Compensation Committee of the Board of Directors, which, subject to approval by the Board of Directors, selects persons to receive awards and determines the number of shares subject to each award and the terms, conditions, performance measures and other provisions of the award. Stock-based compensation expense that was recognized in the continuing operations of the Company’s consolidated statements of operations for the six months ended June 30, 2025 and calendar years 2024 and 2023 was $39,000, $60,000, and $39,000, respectively. There was no stock-based compensation for discontinued operations for the six months ended June 30, 2025 and calendar year 2024, and $5,000 in calendar year 2023. The Company uses the Black-Scholes option pricing model to estimate fair value of stock-based awards with the following weighted-average assumptions: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2025 |  | 2024 |  | 2023 |
Expected life (years) |  | N/A |  | N/A | ​ | 1.0 | ​
Expected volatility |  | N/A | % | N/A | % | 95 | %
Dividend yield |  | N/A | % | N/A | % | — | %
Risk-free interest rate |  | N/A | % | N/A | % | 4.7 | %
​ The Company uses the graded attribution method to recognize expense for unvested stock-based awards. Forfeitures are recognized as incurred. Stock Options, Restricted Stock, Restricted Stock Units, and Other Stock-Based Compensation Awards. The Company maintains stock and incentive plans (the “Plans). Under the terms of the Plans, the Company may grant awards in a variety of instruments including stock options, restricted stock and restricted stock units to employees, consultants and directors generally at an exercise price at or above 100% of fair market value at the close of business on the date of grant. Stock options expire 10 years after the date of grant and generally vest over three years. The Company issues new shares of common stock upon grant of restricted stock, when stock options are exercised, and when restricted stock units are vested and/or settled. The following table summarizes activity under the Plans: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Plan Shares |  | ​ |  | Weighted Average |  | ​ | ​
​ | ​ | Available | ​ | Plan Options | ​ | Exercise Price | ​ | Aggregate
​ | ​ | for Grant |  | Outstanding |  | Per Share |  | Intrinsic Value
Balance at January 1, 2023 |  | 92,862 |  | 14,086 | ​ | $ | 14.17 | ​ | ​ | ​
Cancelled or forfeited options |  | 12,623 |  | (12,623) | ​ |  | 14.02 | ​ |  |
Balance at December 31, 2023 |  | 105,485 |  | 1,463 | ​ |  | 15.54 | ​ |  |
Restricted stock units and awards granted |  | (27,000) |  | — | ​ |  | 5.64 |  | ​ |
Cancelled or forfeited options |  | 1,463 |  | (1,463) | ​ |  | 15.54 | ​ |  |
Balance at December 31, 2024 |  | 79,948 |  | — | ​ |  | — | ​ |  |
Restricted stock units and awards granted |  | — |  | — | ​ |  | — |  | ​ |
Balance at June 30, 2025 |  | 79,948 |  | — | ​ |  | — | ​ |  |
​ Options outstanding under the Plans expired in May 2024. There were no options outstanding as of June 30, 2025 and December 31, 2024. During the six months ended June 30, 2025 and calendar years 2024 and 2023, the Company did not issue any stock options. In May 2024, the Company issued a restricted stock grant totaling 27,000 shares to an employee. The shares underlying the awards were assigned a value of $5.64 per share, which was the closing price of the Company’s common stock on the date of grant, for a total grant date value of $152,000. The shares vest equally over three years. Restricted stock and restricted stock unit transactions during the six months ended June 30, 2025 and calendar years 2024 and 2023 are summarized as follows: ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Weighted average
​ |  | Number of Shares |  | grant date fair value
Unvested shares at January 1, 2023 |  | 5,869 | ​ | $ | 9.21
Granted |  | — | ​ |  | ​
Vested |  | (5,869) | ​ |  | 7.66
Unvested shares at December 31, 2023 |  | — | ​ | $ | —
Granted |  | 27,000 | ​ | ​ | 5.64
Vested |  | — | ​ |  | —
Unvested shares at December 31, 2024 |  | 27,000 | ​ | $ | 5.64
Granted |  | — | ​ | ​ | —
Vested |  | (9,000) | ​ |  | 5.64
Unvested shares at June 30, 2025 |  | 18,000 | ​ | $ | 5.64
​ As of June 30, 2025 and December 31, 2024, there was $53,000 and $92,000, respectively, of unrecognized compensation costs related to outstanding restricted stock, which is expected to be recognized over the remaining average vesting period of approximately 1.9 years. Employee Stock Purchase Plan. The Company has an Employee Stock Purchase Plan (the “ESPP”) that enables employees to contribute up to 10% of their base compensation toward the purchase of the Company’s common stock at 85% of its market value on the first or last day of the year. Participants purchased zero, zero, and 338 shares under the ESPP during the six months ended June 30, 2025, calendar year 2024, and calendar year 2023, respectively. At June 30, 2025, 22,945 shares were reserved for future employee purchases of common stock under the ESPP. For the six months ended June 30, 2025 and calendar years 2024 and 2023, the Company recognized $3,000, $-0-, and $7,000, respectively, of stock-based compensation expense related to the ESPP that was recognized in the continuing operations. Dividends. The Company has not historically paid dividends, other than one-time dividends declared in 2011 and 2016. The Company intends to retain earnings from operations for use in advancing our business strategy; however, the Company may consider special dividends in the future.

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- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent + Details
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