XML 27 R16.htm IDEA: XBRL DOCUMENT
v3.25.2

STOCK-BASED COMPENSATION | 6 Months Ended
--- | ---
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract] |
STOCK-BASED COMPENSATION | NOTE 10. STOCK-BASED COMPENSATION The Company recorded pre-tax compensation expense related to the grant of stock options and restricted stock issued of $23,565 and $101,467 for the six months ended June 30, 2025 and 2024, respectively. As of June 30, 2025, the Company had adopted ten separate stock option and restricted stock plans: (i) the 2005 Stock Option and Restricted Stock Plan (the “2005 Plan”), (ii) the 2006 Stock Option and Restricted Stock Plan (the “2006 Plan”), (iii) the 2007 Stock Option and Restricted Stock Plan (the “2007 Plan”), (iv) the 2008 Stock Option and Restricted Stock Plan (the “2008 Plan”), (v) the 2011 Stock Option and Restricted Stock Plan (the “2011 Plan”), (vi) the 2013 Stock Option and Restricted Stock Plan (the “2013 Plan”), (vii) the 2015 Stock Option and Restricted Stock Plan (the “2015 Plan”), (viii) the 2018 Stock Option and Restricted Stock Plan (the “2018 Plan”), (ix) the 2020 Stock Option and Restricted Stock Plan (the “2020 Plan”), and (x) the 2022 Stock Option and Restricted Stock Plan (the “2022 Plan”). The 2005 Plan, 2006 Plan, 2007 Plan, 2008 Plan, 2011 Plan, 2013 Plan, 2015 Plan, 2018 Plan, 2020 Plan and 2022 Plan are referred to as the “Plans.” Stock option grants. The Company believes that such awards better align the interests of our employees with those of its stockholders. Option awards have been granted with an exercise price equal to the market price of its stock at the date of grant with such option awards generally vesting based on the completion of continuous service and having ten-year contractual terms. These option awards typically provide for accelerated vesting if there is a change in control (as defined in the Plans). The Company has registered all shares of Common Stock that are issuable under its Plans with the SEC. A total of 69 shares remained available for awards under the various Plans as of June 30, 2024. The fair value of each option award is estimated on the date of grant using a Black-Scholes option valuation model. Activity in the various Plans during the six months ended June 30, 2025 and 2024 is reflected in the following table: SCHEDULE OF STOCK OPTIONS OUTSTANDING
Options |  | Number of Shares |  |  | Weighted Average Exercise Price |
Outstanding at January 1, 2025 |  |  | 26 |  |  | $ | 102,907.69 |
Granted |  |  | — |  |  |  | — |
Exercised |  |  | — |  |  |  | — |
Forfeited |  |  | — |  |  |  | — |
Outstanding at June 30, 2025 |  |  | 26 |  |  | $ | 102,907.69 |
Exercisable at June 30, 2025 |  |  | 26 |  |  | $ | 102,907.69 |
Options |  | Number of Shares |  |  | Weighted Average Exercise Price |
Outstanding at January 1, 2024 |  |  | 27 |  |  | $ | 91,100.00 |
Granted |  |  | — |  |  |  | — |
Exercised |  |  | — |  |  |  | — |
Forfeited |  |  | — |  |  |  | — |
Outstanding at June 30, 2024 |  |  | 27 |  |  | $ | 91,100.00 |
Exercisable at June 30, 2024 |  |  | 27 |  |  | $ | 91,100.00 |
The fair value of each option award is estimated on the date of grant using a Black-Scholes option valuation model The Plans allow for the cashless exercise of stock options. This provision allows the option holder to surrender/cancel options with an intrinsic value equivalent to the purchase/exercise price of other options exercised. There were no shares surrendered pursuant to cashless exercises during the three months ended June 30, 2025 and 2024. At June 30, 2025 and December 31, 2024, the aggregate intrinsic value of options outstanding was approximately $-0- and $-0-, respectively, and the aggregate intrinsic value of options exercisable was approximately $-0- and $-0-, respectively. 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, 2025: SCHEDULE OF SHARES AUTHORIZED UNDER STOCK OPTION PLANS BY EXERCISE PRICE RANGE
|  |  | 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 $39.999 |  |  |  | 1 |  |  | 6.6 years |  |  | 1 |  |  |  | 6.6 years |
$40,000 to $69,999 |  |  |  | 7 |  |  | 6.0 years |  |  | 7 |  |  |  | 6.0 years |
$70,000 to $99,999 |  |  |  | 10 |  |  | 4.3 years |  |  | 10 |  |  |  | 4.3 years |
$100,000 to $129,999 |  |  |  | 7 |  |  | 3.1 years |  |  | 7 |  |  |  | 3.1 years |
$130,000 to $159,999 |  |  |  | 1 |  |  | 0.9 years |  |  | 1 |  |  |  | 0.9 years |
Total |  |  |  | 26 |  |  | 4.4 years |  |  | 26 |  |  |  | 4.4 years |
Restricted stock grants. The Board of Directors has granted restricted stock awards under the Plans. Restricted stock awards are valued on the date of grant and have no purchase price for the recipient. Restricted stock awards typically vest over one to four years corresponding to the anniversaries of the grant date. Under the Plans, unvested shares of restricted stock awards may be forfeited upon the termination of service to or employment with the Company, depending upon the circumstances of termination. Except for restrictions placed on the transferability of restricted stock, holders of unvested restricted stock have full stockholder’s rights, including voting rights and the right to receive cash dividends. A summary of all restricted stock activity under the equity compensation plans for the six months ended June 30, 2025 and 2024 is as follows: SCHEDULE OF RESTRICTED STOCK ACTIVITY
|  | Number of Restricted shares |  |  | Weighted average grant date fair value |
Nonvested balance, January 1, 2025 |  |  | 25 |  |  | $ | 10,960.00 |
Granted |  |  | — |  |  |  | — |
Vested |  |  | (17 | ) |  |  | (7,060.00 | )
Forfeited |  |  | — |  |  |  | — |
Nonvested balance, June 30, 2025 |  |  | 8 |  |  | $ | 18,720.00 |
|  | Number of Restricted shares |  |  | Weighted average grant date fair value |
Nonvested balance, January 1, 2024 |  |  | 27 |  |  | $ | 22,540.00 |
Granted |  |  | 40 |  |  |  | 4,240.00 |
Vested |  |  | (15 | ) |  |  | (20,120.00 | )
Forfeited |  |  | (1 | ) |  |  | (44,400.00 | )
Nonvested balance, June 30, 2024 |  |  | 51 |  |  | $ | 8,680.00 |
The Company estimated the fair market value of these restricted stock grants based on the closing market price on the date of the grant. As of June 30, 2025, there was $34,969 of total unrecognized compensation costs related to all remaining non-vested restricted stock grants, which will be amortized over the next thirty-one months in accordance with their respective vesting scale. The nonvested balance of restricted stock vests as follows: SCHEDULE OF NON-VESTED BALANCE OF RESTRICTED STOCK
Years ended |  | Number of shares |
2025 (July 1, 2025 to December 31, 2025) |  |  | 1 |
2026 |  |  | 3 |
2027 |  |  | 2 |
2028 |  |  | 2 |
2029 |  |  | — |

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration