v3.25.1
COMMON STOCK
3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
COMMON STOCK

7.     COMMON STOCK

 

At March 31, 2025, the Company's authorized capital stock was 150,000,000 shares of common stock, par value $0.001 per share, and 25,000,000 shares of preferred stock, par value $0.001 per share. On that date, the Company had 55,082,382 shares of common stock issued and 54,147,674 shares of common stock outstanding. There were no shares of preferred stock outstanding.

 

Stock-based compensation expense related to Company grants for the three months ended March 31, 2025 and 2024 was $672,318 and $663,951, respectively.

 

2025 Transactions – During the three months ended March 31, 2025, the Company issued 724,000 shares of common stock for vested stock awards and the exercise of stock options. No stock options were exercised.

 

The Company also granted 3,025,000 restricted stock awards during the three months ended March 31, 2025. For the stock awards granted, the weighted average grant date fair value was $2.38 and vest over a period of one to five years.

 

2024 Transactions – During the three months ended March 31, 2024, the Company issued 214,000 shares of common stock for vested stock awards and the exercise of stock options. No stock options were exercised.

 

The Company also granted 300,000 restricted stock awards during the three months ended March 31, 2024. For the stock awards granted, the weighted average grant date fair value was $2.99 and vest over a period of five years.