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STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
SCHEDULE OF STOCK OPTIONS OUTSTANDING

Activity in the various Plans during the years ended December 31, 2024 and 2023 is reflected in the following table:

 

Options  Number of
Shares
   Weighted
Average
Exercise Price
 
Outstanding at January 1, 2024   53,600   $45.55 
Granted        
Exercised        
Forfeited   (1,100)   (65.00)
Outstanding at December 31, 2024   52,500   $45.14 
Exercisable at December 31, 2024   52,500   $45.14 

 

Options  Number of
Shares
   Weighted
Average
Exercise Price
 
Outstanding at January 1, 2023   53,950   $45.80 
Granted        
Exercised        
Forfeited   (350)   (83.20)
Outstanding at December 31, 2023   53,600   $45.55 
Exercisable at December 31, 2023   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 December 31, 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   5.6 years   37,000   5.6 years
$50.00 to $69.99    14,000   3.8 years   14,000   3.8 years
$70.00 to $89.99    1,500   1.4 years   1,500   1.4 years
                   
 Total    52,500   5.0 years   52,500   5.0 years
SCHEDULE OF RESTRICTED STOCK ACTIVITY

A summary of all restricted stock activity under the equity compensation plans for the years ended December 31, 2024 and 2023 is as follows:

 

   Number of
Restricted
shares
   Weighted
average
grant date
fair value
 
Nonvested balance, January 1, 2024   53,875   $11.27 
Granted   80,197    2.12 
Vested   (33,375)   (11.25)
Forfeited   (49,947)   (2.48)
Nonvested balance, December 31, 2024   50,750   $5.48 

 

   Number of
Restricted
shares
   Weighted
average
grant date
fair value
 
Nonvested balance, January 1, 2023   79,125   $21.73 
Granted   35,000    5.00 
Vested   (56,625)   (21.29)
Forfeited   (3,625)   (22.41)
Nonvested balance, December 31, 2023   53,875   $11.27 
SCHEDULE OF NON-VESTED BALANCE OF RESTRICTED STOCK

The nonvested balance of restricted stock vests as follows:

 

Years ended  Number of
shares
 
     
2025   35,250 
2026   6,500 
2027   5,000 
2028   4,000 
2029