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STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
SCHEDULE OF STOCK OPTIONS OUTSTANDING

A summary of all stock option activity under the Plans for the three months ended June 30, 2024 is as follows:

 

Options 

Number of

Shares

  

Weighted

Average

Exercise Price

 
Outstanding at December 31, 2023   53,600   $45.55 
Granted        
Exercised        
Forfeited        
Outstanding at June 30, 2024   53,600   $45.55 
Exercisable at June 30, 2024   53,600   $45.55 
SCHEDULE OF SHARES AUTHORIZED UNDER STOCK OPTION PLANS BY EXERCISE PRICE RANGE

The following table summarizes the range of exercise prices and weighted average remaining contractual life for outstanding and exercisable options under the Company’s option plans as of June 30, 2024:

 

    Outstanding options   Exercisable options 

Exercise price

range

  

Number of

options

  

Weighted average
remaining

contractual life

  

Number of

options

  

Weighted average

remaining

contractual life

 
                       
$0.01 to $49.99    37,000    6.1 years    37,000    6.1 years 
$50.00 to $69.99    15,100    4.0 years    15,100    4.0 years 
$70.00 to $89.99    1,500    1.9 years    1,500    1.9 years 
                       
      53,600    5.4 years    53,600    5.4 years 
SCHEDULE OF RESTRICTED STOCK ACTIVITY

A summary of all restricted stock activity under the Plans for the three months ended June 30, 2024 is as follows:

  

Number of
Restricted

shares

  

Weighted

average

grant date
fair value

 
Nonvested balance, December 31, 2023   53,875   $11.27 
Granted   80,197    2.12 
Vested   (30,750)   10.06 
Forfeited   (1,125)   22.20 
Nonvested balance, June 30, 2024   102,197   $4.34 
SCHEDULE OF NON-VESTED BALANCE OF RESTRICTED STOCK

The nonvested balance of restricted stock vests as follows:

 

Years ended 

Number of

shares

 
     
2024 (July 1, 2024 through December 31, 2024)   1,500 
2025   73,349 
2026   18,349 
2027   5,000 
2028   4,000