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Stock Compensation Expense
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Stock Compensation Expense

Note 9 – Stock Compensation Expense

 

Equity Incentive Plan

 

On April 12, 2022, the Company’s board of directors approved The Singing Machine Company, Inc. 2022 Equity Incentive Plan. The equity plan provides for the issuance of equity incentive awards, such as stock options, stock appreciation rights, stock awards, restricted stock, stock units, performance awards and other stock or cash-based awards to the Company’s employees, officers, directors, consultants, agents, advisors and independent contractors.

 

As of March 31, 2025, there were 1,500 shares of common stock authorized for issuance under the plan. Of this amount, awards representing 1,183 shares of common stock had been granted under the plan and 317 shares remained available for issuance under the plan. The Company did not issue any share-based awards under the plan during the three months ended March 31, 2025 and 2024, and no shares were forfeited during the three months ended March 31, 2025. As a result, as of March 31, 2025, there were 317 shares of common stock available for issuance under the plan.

 

As of March 31, 2025, there was an unrecognized expense of $80,000 remaining on stock options currently vesting over time with an approximate weighted average of three months remaining until the options would be fully vested. The vested options outstanding as of March 31, 2025, had no intrinsic value.