v3.25.1
Pay vs Performance Disclosure - USD ($)
 2 Months Ended 10 Months Ended 12 Months Ended
Mar. 08, 2022
Dec. 31, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure [Table]          
Pay vs Performance Disclosure, Table    

Pay Versus Performance Disclosure

 

The following table sets forth the pay versus performance for our Named Executive Officers for each of the fiscal years ended December 31, 2024, 2023, and 2022.

 

*

Year

 Summary Compensation Table Total for PEO  Dorith Hakim ($)(1) Compensation Actually Paid to PEO Dorith Hakim ($)(1)* Summary Compensation Table Total for former PEO  Douglas McCrosson ($)(1) Summary Compensation Actually Paid to former PEO Douglas McCrosson ($)(1)*

Average Summary Compensation Table Total for Non-PEO NEOs

($) (2)(3)

 Average Compensation Actually Paid to Non-PEO NEOs ($)(2)(3)* Value of Initial Fixed $100 Investment Based on Total Shareholder Return ($)(4)

Net Income

($)(5)

2024 838,603 608,590 — — 345,879 277,597 148.35 3,299,334
2023 1,013,818 549,826 266,759 266,759 419,570 314,384 100.00 17,201,204
2022 632,913 528,191 383,242 383,242 371,468 320,665 117.22 9,176,225

 

*“Compensation Actually Paid” to NEOs represents “Total” compensation reported in the Summary Compensation Table less “Stock Awards” reported in the Summary Compensation Table for the applicable fiscal year, as determined in accordance with SEC rules.

 

(1)Commencing March 9, 2022 our PEO, or Principal Executive Officer, was our Chief Executive Officer and President, Dorith Hakim. In 2022, through March 8, 2022, our PEO was Douglas McCrosson. Mr. McCrosson’s total compensation and compensation actually paid in 2022 and 2023 was calculated including severance payments made to him in both 2022 and 2023.
(2)In 2024 our Non-PEO named executive officers were Philip Passarello, Jay Mulhall and Andrew Davis. The average compensation was calculated by averaging all three NEOs compensation, including severance payments made to Mr. Davis for 2024 and only partial year compensation for Mr. Passarello. Mr. Davis’s employment was terminated by the Company on August 13, 2024. Mr. Passarello’s employment with the Company began on August 19, 2024.
(3)In 2022 and 2023, our Non-PEO named executive officers were Andrew Davis and Jay Mulhall.
(4)Assumes a $100 fixed investment as of year-end 2021 and continuing through year-end 2022, 2023, or 2024, respectively.
(5)Net income for 2023 and 2022 includes the income tax benefits of $14,170,891 and $6,473,532, respectively, from the reduction of the Company’s deferred tax asset valuation allowance by those amounts in the fourth quarter of those respective years.

(1)Commencing March 9, 2022 our PEO, or Principal Executive Officer, was our Chief Executive Officer and President, Dorith Hakim. 
 In 2022, through March 8, 2022, our PEO was Douglas McCrosson. Mr. McCrosson’s total compensation and compensation actually paid in 2022 and 2023 was calculated including severance payments made to him in both 2022 and 2023.
(2)In 2024 our Non-PEO named executive officers were Philip Passarello, Jay Mulhall and Andrew Davis. The average compensation was calculated by averaging all three NEOs compensation, including severance payments made to Mr. Davis for 2024 and only partial year compensation for Mr. Passarello. Mr. Davis’s employment was terminated by the Company on August 13, 2024. Mr. Passarello’s employment with the Company began on August 19, 2024.
(3)In 2022 and 2023, our Non-PEO named executive officers were Andrew Davis and Jay Mulhall.

(4)Assumes a $100 fixed investment as of year-end 2021 and continuing through year-end 2022, 2023, or 2024, respectively.
(5)Net income for 2023 and 2022 includes the income tax benefits of $14,170,891 and $6,473,532, respectively, from the reduction of the Company’s deferred tax asset valuation allowance by those amounts in the fourth quarter of those respective years.

 

    
Named Executive Officers, Footnote [Text Block]    

(1)Commencing March 9, 2022 our PEO, or Principal Executive Officer, was our Chief Executive Officer and President, Dorith Hakim. 
 In 2022, through March 8, 2022, our PEO was Douglas McCrosson. Mr. McCrosson’s total compensation and compensation actually paid in 2022 and 2023 was calculated including severance payments made to him in both 2022 and 2023.
(2)In 2024 our Non-PEO named executive officers were Philip Passarello, Jay Mulhall and Andrew Davis. The average compensation was calculated by averaging all three NEOs compensation, including severance payments made to Mr. Davis for 2024 and only partial year compensation for Mr. Passarello. Mr. Davis’s employment was terminated by the Company on August 13, 2024. Mr. Passarello’s employment with the Company began on August 19, 2024.
(3)In 2022 and 2023, our Non-PEO named executive officers were Andrew Davis and Jay Mulhall.
   
Non-PEO NEO Average Total Compensation Amount [1],[2]     $ 345,879 $ 419,570 $ 371,468
Non-PEO NEO Average Compensation Actually Paid Amount [1],[2],[3]     $ 277,597 314,384 320,665
Compensation Actually Paid vs. Total Shareholder Return    

 

 

    
Compensation Actually Paid vs. Net Income    

 

 

 

* Adjusted net income for 2024 excludes an income tax provision of $404,224 related to state evaluation allowance, and 2023 and 2022 excludes the income tax benefits of $14,170,891 and $6,473,532, respectively, from the reduction of the Company’s deferred tax asset valuation allowance by those amounts in the fourth quarter of those respective years.

    
Total Shareholder Return Amount [4]     $ 148.35 100.00 117.22
Net Income (Loss) Attributable to Parent [5]     3,299,334 17,201,204 9,176,225
Dorith Hakim [Member]          
Pay vs Performance Disclosure [Table]          
PEO Total Compensation Amount [6]     838,603 1,013,818 632,913
PEO Actually Paid Compensation Amount [3],[6]     $ 608,590 $ 549,826 528,191
PEO Name   Dorith Hakim Dorith Hakim Dorith Hakim  
Douglas McCrosson [Member]          
Pay vs Performance Disclosure [Table]          
PEO Total Compensation Amount [6]       $ 266,759 383,242
PEO Actually Paid Compensation Amount [3],[6]       $ 266,759 $ 383,242
PEO Name Douglas McCrosson        
[1] In 2022 and 2023, our Non-PEO named executive officers were Andrew Davis and Jay Mulhall.
[2] In 2024 our Non-PEO named executive officers were Philip Passarello, Jay Mulhall and Andrew Davis. The average compensation was calculated by averaging all three NEOs compensation, including severance payments made to Mr. Davis for 2024 and only partial year compensation for Mr. Passarello. Mr. Davis’s employment was terminated by the Company on August 13, 2024. Mr. Passarello’s employment with the Company began on August 19, 2024.
[3] “Compensation Actually Paid” to NEOs represents “Total” compensation reported in the Summary Compensation Table less “Stock Awards” reported in the Summary Compensation Table for the applicable fiscal year, as determined in accordance with SEC rules.
[4] Assumes a $100 fixed investment as of year-end 2021 and continuing through year-end 2022, 2023, or 2024, respectively.
[5] Net income for 2023 and 2022 includes the income tax benefits of $14,170,891 and $6,473,532, respectively, from the reduction of the Company’s deferred tax asset valuation allowance by those amounts in the fourth quarter of those respective years.
[6] Commencing March 9, 2022 our PEO, or Principal Executive Officer, was our Chief Executive Officer and President, Dorith Hakim. In 2022, through March 8, 2022, our PEO was Douglas McCrosson. Mr. McCrosson’s total compensation and compensation actually paid in 2022 and 2023 was calculated including severance payments made to him in both 2022 and 2023.