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Note 11 - Stockholders' Equity
 3 Months Ended
Mar. 31, 2024
Notes to Financial Statements  
Equity [Text Block]

11.

STOCKHOLDERS’ EQUITY

 

Issuances of Common Stock

 

During the three-month periods ended March 31, 2024, and 2023, there have not been any shares of common stock issued, except as noted below under Issuances to Directors, Executive Officers & Consultants

 

Issuances of Restricted Stock

 

Restricted stock consists of shares of common stock that are subject to restrictions on transfer and risk of forfeiture until the fulfillment of specified conditions. The fair value of nonvested shares is determined based on the market price of the Company's common stock on the grant date. Nonvested stock is expensed ratably over the term of the restriction period.

 

During the three-month periods ended March 31, 2024 and 2023, the Company issued 0 and 2,222 shares of restricted common stock, respectively, to certain employees. These shares vest in equal annual installments over a three-year period from the date of grant and had a fair value on the date of issuance of $0 and $31,200, respectively.

 

During the three-month periods ended March 31, 2024 and 2023, 316 and 1,102 shares of restricted common stock were forfeited, respectively.

 

Share based compensation for the three-month periods ended March 31, 2024 and 2023, was $47,791 and $62,474, respectively.

 

Issuances to Directors

 

During the three-month periods ended March 31, 2024, and 2023 the Company issued 4,287 and 855 shares of common stock to its directors in lieu of payment of board and committee fees valued at $9,003 and $12,002, respectively. 

 

Employees’ exercise options

 

During the three-month periods ended March 31, 2024 and 2023, no employee stock options were exercised.

 

3. Warrants

 

There were no warrants issued during the three-month periods ended March 31, 2024 and 2023.  There were 777,666 prefunded warrants exercised during the three-month period ended March 31, 2024.