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STOCKHOLDERS’ EQUITY | 12 Months Ended
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Dec. 31, 2023
Equity [Abstract] |
STOCKHOLDERS’ EQUITY | NOTE 7 – STOCKHOLDERS’ EQUITY Common Stock
| ● | Issuance of common stock during 2023 in underwritten Public Offering of Common Stock
On December 5, 2023, the Company issued and sold 4,600,000 shares of common stock in an underwritten public offering. The Company received at the closing of the offering net proceeds of approximately $1,556 after deducting underwriting discounts and commissions and other offering expenses paid by the Company. The Company is using the net proceeds from the Offering for general corporate purposes.
| ● | Issuance of common stock during 2023 upon exchange of warrants
On November 9, 2023, warrants to purchase an aggregate of 24,122 shares of the Company’s common stock, originally issued July 7, 2020, were exchanged on a cashless basis for 12,062 shares of Common Stock in accordance to a warrant exchange agreement. Upon issuance of such shares and cancellation of the warrants, the Company no longer has any warrants outstanding as of December 31, 2023.
| ● | Issuance of common stock during 2022 for services
In August 2022, the Company issued an aggregate of 161,347 shares of common stock to its officers, employees and consultants as part of the Company’s Employee Retention Program and the Company’s 2016 Omnibus Incentive Plan. The shares of common stock had an aggregate grant date fair value of $515 based on the closing price of the Company’s common stock on the grant date of the awards, which was recorded as stock-based compensation expense of $515 during 2022. Preferred Stock The Company’s board of directors is authorized to issue up to 5,000,000 shares of preferred stock in one or more series and to fix the rights, preferences, privileges, qualifications, limitations and restrictions thereof, including dividend rights and rates, conversion rights, voting rights, terms of redemption, redemption prices, liquidation preferences and the number of shares constituting any series or the designation of such series, without any vote or action by the Company’s stockholders. Any preferred stock to be issued could rank prior to the Company’s common stock with respect to dividend rights and rights on liquidation. The Company’s board of directors, without stockholder approval, may issue preferred stock with voting and conversion rights which could adversely affect the voting power of holders of common stock and discourage, delay or prevent a change in control of the Company. Treasury Stock At December 31, 2023 and 2022, the Company had 17,477 shares of common stock held as treasury stock at a cost of $40.

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