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Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2024

Stockholders' Equity Note [Abstract]

Summary of Stock Option Activity

​

A summary of the Company’s stock option activity for the Current Year is as follows:

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	Weighted	​	​	​
​	​	​	​	​	​	​	Average	​	​	​
​	​	​	​	Weighted		​	Remaining	​	​	​
​	​	​	​	Average		​	Contractual	​	Aggregate
​	​	Number of	​	Exercise		​	Life	​	Intrinsic
​		Options		Price			(in Years)		Value
Outstanding at January 1, 2024		514,854	​	$	20.27		4.26	​	$	—
Granted		10,000	​		8.50			​
Exercised		—	​		—			​
Expired/Forfeited		(52,462)	​		29.35			​
Outstanding at December 31, 2024, and expected to vest		472,392	​	$	19.01		3.65	​	$	—
Exercisable at December 31, 2024		97,392	​	$	27.22		1.26	​	$	—

Schedule of Black-Scholes Assumptions for Fair Value of Options Granted

The fair values of the options granted were estimated at the respective dates of grant using the Black-Scholes option pricing model with the following range of assumptions:

​

​	​	​	​	​	​
​	​	Year Ended December 31,
​		2024		2023
Expected Volatility		78	%	89 – 90	%
Expected Dividend Yield		—	%	—	%
Expected Life (Term, in years)		3.25		2.75 – 10	​
Risk-Free Interest Rate		4.46	%	4.0 – 4.7	%

Schedule of options vesting upon achievement of target price

Of the total stock options outstanding at December 31, 2024, the vesting of 350,000 options is contingent upon the Company’s common stock achieving certain target prices as follows:

​	​	​
Target Prices		Number of Options Vesting
$30.00	​	100,000
$50.00	​	85,000
$70.00	​	70,000
$90.00	​	55,000
$110.00	​	40,000

​

Summary of Stock Option Activity for Non-Vested Options

The following table summarizes the Company’s stock option activity for non-vested options for the Current Year:

​

​	​	​	​	​	​
​		​		Weighted
​	​	​	​	Average
​	​	Number of	​	Grant Date
​		Options		Fair Value
Balance at January 1, 2024		375,000	​	$	0.37
Granted		10,000	​		4.72
Vested		(10,000)	​	​	9.02
Forfeited or Canceled		—	​		—
Balance at December 31, 2024		375,000	​	$	0.24

​

Summary of Restricted Stock Activity

A summary of the Company’s restricted stock activity for the Current Year is as follows:

​

​	​	​	​	​	​
​	​	​	​	Weighted
​	​	Number of	​	Average
​	​	Restricted	​	Grant Date
​		Shares		Fair Value
Outstanding at January 1, 2024		33,333	​	$	36.81
Granted		30,770	​		8.45
Vested		(28,770)	​		8.94
Expired/Forfeited		—	​		—
Outstanding at December 31, 2024		35,333	​	$	34.80

​

Summary of Warrant Activity

A summary of the Company’s warrant activity for the Current Year is as follows:

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	Weighted	​	​	​
​	​	​	​	​	​	​	Average	​	​	​
​	​	​	​	Weighted		​	Remaining	​	​	​
​	​	​		Average			Contractual	​	Aggregate
​	​	Number of	​	Exercise			Life	​	Intrinsic
​		Warrants		Price			(in Years)		Value
Outstanding and exercisable at January 1, 2024		111,606	​	$	16.71		8.46	​	$	—
Issued		163,957	​		6.52		​	​
Exercised		—	​		—		​	​
Expired/Forfeited		(11,606)	​		31.46		​	​
Outstanding at December 31, 2024		263,957	​	$	9.73		8.96	​	$	—
Exercisable at December 31, 2024		163,957	​	$	6.52		9.31	​	$	—

Schedule Of Common Stock Repurchased

The following table provides information with respect to restricted stock purchased and retired by the Company during the Current Year:

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	Number of	​	​	​
​	​	​	​	​	​	​	Shares	​	​	​
​	​	​	​	​	​	​	Purchased as	​	​	​
​	​	​	​	​	​	​	Part of	​	​	​
​	​	Total Number	​	Actual		​	Publicly	​	Fair value of
​	​	of Shares	​	Price Paid		​	Announced	​	Re-Purchased
Date		Purchased		per Share			Plan		Shares
July 31, 2024 (i)	​	1,344	​	$	7.20		—	​	$	9,680
August 31, 2024 (i)	​	2,760	​	​	7.03	​	—	​	​	19,411
September 30, 2024 (i)	​	2,594	​	​	7.48	​	—	​	​	19,411
October 31, 2024(i)	​	2,458	​	​	7.89	​	—	​	​	19,411
November 31, 2024 (i)	​	2,824	​	​	6.87	​	—	​	​	19,411
December 31, 2024 (i)		3,768	​		5.15		—	​		19,411
Total 2024		15,748	​	$	6.78		—	​	$	106,735

​

(i) The shares were exchanged from employees in connection with the income tax withholding obligations on behalf of such employees from the receipt of stock awards. The 2011 Plan and 2021 Plan allow for award holders to surrender vested shares to cover withholding tax liabilities.

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