v3.25.1
STOCK OPTIONS, RESTRICTED STOCK AND WARRANTS (Tables)
3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Schedule of stock options
                     
    Options Outstanding 
              Weighted -      
              Average      
              Remaining    Aggregate 
         Weighted-    Contractual    Intrinsic 
    Number of    Average    Term    Value 
    Shares    Exercise Price    (in years)    (in thousands)(1) 
Balance as of December 31, 2024   221,000   $3.57    0.4   $- 
                     
Granted   -    -           
                     
Forfeited/Cancelled/Expired   (70,000)   3.51           
                     
Balance as of March 31, 2025   151,000   $3.61    0.3   $- 
                     
Exercisable as of March 31, 2025   151,000   $3.61    0.3   $- 

  

(1)The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted price of the Company’s common stock for options that were in-the-money at each respective period. 
Schedule of unvested restricted stock awards
           
       Weighted - 
       Average 
   Number of   Grant 
   Award Shares   Date Fair Value 
Unvested at December 31, 2024   140,000   $1.60 
           
Granted   -    - 
           
Vested   -    - 
           
Balance at March 31, 2025   140,000   $1.60 
Schedule of unvested restricted stock units
           
       Weighted - 
       Average 
   Number of   Grant 
   Unit Shares   Date Fair Value 
Unvested at December 31, 2024   273,736   $1.38 
           
Granted   86,773    1.75 
           
Vested   (41,011)   1.37 
           
Forfeited   (5,000)   1.37 
           
Balance at March 31, 2025   314,498   $1.48 
Schedule of unvested performance restricted stock units
            
    Number of
Unit Shares
   Weighted -
Average
Number of
Unit Shares
 
Unvested at December 31, 2024    1,606,660   $1.37 
            
Granted    -    - 
            
Forfeited/Cancelled    (103,125)   1.41 
            
Balance at March 31, 2025    1,503,535   $1.37 
Schedule of warrants outstanding
                      
    Number of
Warrant Shares
  

Weighted-

Average

Exercise

Price

  

Weighted -

Average

Remaining

Contractual

Term

(in years)

  

Aggregate

Intrinsic

Value

(in thousands)(1)

 
Balance as of December 31, 2024    4,628,586    4.13    1.2      
                      
Granted    1,461,896    4.00           
                      
Exercised    (1,461,896)   3.22           
                      
Balance as of March 31, 2025    4,628,586   $4.38    1.9      
                      
Exercisable as of March 31, 2025    4,628,586   $4.38    1.9   $- 

 

(1)The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying warrants and the closing stock price of $0.68 for our common stock on March 31, 2025.
Schedule of assumptions used
    
   January 13, 2025
Risk free interest rate  4.34%
    
Expected life  2.75 years
    
Expected volatility  171%
    
Expected dividend  -