NOTE 8 — Stock-Based Compensation	9 Months Ended
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
NOTE 8 — Stock-Based Compensation	NOTE 8 — Stock-Based Compensation The Company recognizes the compensation cost in the financial statements for all stock-based awards to employees, including grants of stock options and restricted stock, based on the fair value of the awards as of the date that the awards are issued. Compensation cost for stock-based awards is recognized on a straight-line basis over the vesting period. The fair values of stock options are generally determined using a binomial lattice valuation model which incorporates assumptions about expected volatility, risk-free interest rate, dividend yield, and expected life. There were no stock options granted during the nine months ended September 30, 2023, compared to 49,000 stock options for the nine months ended September 30, 2022. Restricted stock shares are issued to employees, consultants, and board directors and are held in escrow by the Company until the shares vest. Vesting is contingent upon the recipients remaining as continuing service providers on each of the vesting dates. In the event of termination of service or employment, unvested shares revert back to the Company. Shares are registered at the time of grant, allowing share owners to vote at the annual stockholder meeting. These shares of restricted stock are granted at zero cost basis. Compensation cost for the restricted stock is recognized on a straight-line basis over the vesting period. For the nine months ended September 30, 2023 and 2022, the Company awarded 459,720 and 330,700 shares of restricted stock, respectively. As of September 30, 2023, there were 1,002,135 shares of restricted stock outstanding. Due to the existence of restrictions on sale or transfer until the shares vest, the Company does not count the shares of restricted stock as issued and outstanding shares until they vest. Total stock-based compensation expenses for the three and nine months ended September 30, 2023 were $278,259 and $880,508, respectively, compared to expenses of $260,398 and $735,378 in the corresponding periods a year ago.

NOTE 8 — Stock-Based Compensation

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

NOTE 8 — Stock-Based Compensation

The Company recognizes the compensation cost in the financial statements for all stock-based awards to employees, including grants of stock options and restricted stock, based on the fair value of the awards as of the date that the awards are issued. Compensation cost for stock-based awards is recognized on a straight-line basis over the vesting period.

The fair values of stock options are generally determined using a binomial lattice valuation model which incorporates assumptions about expected volatility, risk-free interest rate, dividend yield, and expected life. There were no stock options granted during the nine months ended September 30, 2023, compared to 49,000 stock options for the nine months ended September 30, 2022.

Restricted stock shares are issued to employees, consultants, and board directors and are held in escrow by the Company until the shares vest. Vesting is contingent upon the recipients remaining as continuing service providers on each of the vesting dates. In the event of termination of service or employment, unvested shares revert back to the Company. Shares are registered at the time of grant, allowing share owners to vote at the annual stockholder meeting. These shares of restricted stock are granted at zero cost basis. Compensation cost for the restricted stock is recognized on a straight-line basis over the vesting period. For the nine months ended September 30, 2023 and 2022, the Company awarded 459,720 and 330,700 shares of restricted stock, respectively.

As of September 30, 2023, there were 1,002,135 shares of restricted stock outstanding. Due to the existence of restrictions on sale or transfer until the shares vest, the Company does not count the shares of restricted stock as issued and outstanding shares until they vest.

Total stock-based compensation expenses for the three and nine months ended September 30, 2023 were $278,259 and $880,508, respectively, compared to expenses of $260,398 and $735,378 in the corresponding periods a year ago.