Annual report pursuant to Section 13 and 15(d)

SHARE-BASED COMPENSATION (Tables)

v3.24.1
SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Options Pricing

 

 

Options Issued For the Twelve Months Ended December 31, 2023

 

Options Issued For the Twelve Months Ended December 31, 2022

Dividend yield

 

0%

 

0%

Expected volatility

 

55.56% - 62.43%

 

59.25% - 60.70%

Risk-free interest rate

 

3.82% - 4.66%

 

1.37% - 3.90%

Expected life (years)

 

5.00

 

5.00

 

 
Summary of Stock Option Activity

A summary of stock option activity is as follows:

 

 

 

Common
Stock
Options

 

 

Weighted-
Average
Exercise
Price

 

 

Aggregate
Intrinsic
Value

 

 

Weighted-
Average
Remaining
Contractual
Term (Years)

 

Outstanding – December 31, 2022

 

 

1,619,881

 

 

$

2.61

 

 

$

(267,418

)

 

 

2.74

 

Issued

 

 

445,000

 

 

$

1.87

 

 

$

—

 

 

 

—

 

Exercised

 

 

(289,500

)

 

$

1.30

 

 

$

(174,076

)

 

 

—

 

Forfeited or expired

 

 

(235,380

)

 

$

2.34

 

 

$

—

 

 

 

—

 

Outstanding – December 31, 2023

 

 

1,540,001

 

 

$

2.70

 

 

$

(1,233,541

)

 

 

2.96

 

Exercisable – December 31, 2023

 

 

741,657

 

 

$

2.67

 

 

$

(570,038

)

 

 

1.70

 

 
Summary of Unvested Stock Option Activity

A summary of unvested stock option activity is as follows:

 

 

 

Common
Stock
Options

 

 

Weighted-
Average
Exercise
Price

 

 

Aggregate
Intrinsic
Value

 

 

Weighted-
Average
Remaining
Contractual
Term (Years)

 

Unvested– December 31, 2022

 

 

934,999

 

 

$

1.97

 

 

$

873,958

 

 

 

3.45

 

Granted

 

 

445,000

 

 

$

1.87

 

 

$

—

 

 

 

—

 

Vested

 

 

(511,651

)

 

$

3.25

 

 

$

—

 

 

 

—

 

Forfeited

 

 

(70,004

)

 

$

3.49

 

 

$

—

 

 

 

—

 

Unvested – December 31, 2023

 

 

798,344

 

 

$

2.73

 

 

$

(662,626

)

 

 

2.00