Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.23.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity

The following table summarizes the Company’s stock option activity for the years ended December 31, 2022 and 2021:

  

                Weighted        
                Average        
          Weighted     Remaining     Aggregate  
          Average     Contractual     Intrinsic  
    Number of     Exercise     Life     Value  
    Options     Price     (in Years)     (in thousands)  
Outstanding - January 1, 2022     33,063     $ 9.04       7.8     $ -  
Granted     -       -                  
Exercised     -       -                  
Forfeited     -       -                          
Outstanding - December 31, 2022     33,063     $ 9.04       6.8     $ -  
                                 
Exercisable at December 31, 2022     23,063     $ 11,.14       6.0     $ -  

 

                Weighted        
                Average        
          Weighted     Remaining     Aggregate  
          Average     Contractual     Intrinsic  
    Number of     Exercise     Life     Value  
    Options     Price     (in Years)     (in thousands)  
Outstanding - January 1, 2021     33,063     $ 10.48       8.3     $ 10.8  
Granted     15,000       4.20                  
Exercised     -       -                  
Forfeited     (15,000 )     7.38                  
Outstanding - December 31, 2021     33,063     $ 9.04       7.8     $ -  
                                 
Exercisable at December 31, 2021     18,063     $ 13.06       6.3     $ -  
Schedule of Fair Value Measurement Assumptions

The following assumptions were utilized in the Black-Scholes option pricing for the stock option grants for the years ended December 31, 2022 and 2021:

 

    2022     2021  
    Year Ended December 31,  
    2022     2021  
Expected dividend yield     -       -  
Risk-free interest rate     - %     0.33 %
Expected volatility     - %     122.69 %
Expected term (in years)     -       3.00  
Grant-date fair value of stock options awarded   $ -     $ 1.09  
Schedule of Restricted Stock Award Activity

A summary of restricted stock activity for the years ended December 31, 2022 and 2021 is as follows:

    Number of  
    Shares  
Outstanding - January 1, 2021     116,938  
Granted     54,263  
Forfeited     -  
Vested     (91,438 )
Outstanding - December 31, 2021     79,763  
Granted     170,937  
Forfeited     (13,823 )
Vested     (167,763 )
Outstanding - December 31, 2022     69,114