v3.25.2
Note 7 - Equity
 6 Months Ended
Jun. 30, 2025
Notes to Financial Statements  
Equity [Text Block]

NOTE 7 - EQUITY

 

The Company is authorized to issue 120,000 shares of Common Stock, $0.01 par value per share, of which 9,391 and 9,210 shares of Common Stock were issued and outstanding as of June 30, 2025 and December 31, 2024, respectively.

 

Stock Split

 

On February 7, 2025, the Company effected a 2-for-1 stock split of its Common Stock and proportionately increased the number of authorized shares of Common Stock to 120,000. All share and per share information throughout this Quarterly Report on Form 10-Q has been retroactively adjusted to reflect the stock split as of the earliest period presented. The shares of Common Stock retain a par value of $0.01 per share. Accordingly, an amount equal to the par value of the additional shares issued in the stock split was reclassified from additional paid-in capital in excess of par value to Common Stock. 

 

Share Repurchase Program

 

On May 13, 2025, the Board approved the extension of the Company’s previously authorized share repurchase program, initially approved by the Board on August 16, 2019, as amended on September 23, 2019, November 6, 2019, February 1, 2021 and March 17, 2023 (“Share Repurchase Program”). Under the extended and amended Share Repurchase Program, the Board authorized management to repurchase up to $5,000 of the Company's Common Stock over a period of 24 months, at a purchase price equal to the fair market value of the Company's Common Stock on the date of purchase, with the exact date and amount of such purchases to be determined by management (the “2025 Share Repurchase Program”).

 

During the six months ended June 30, 2025 and 2024, the Company did not repurchase any Common Stock under its share repurchase programs. As of June 30, 2025, the Company may purchase $5,000 of Common Stock under the 2025 Share Repurchase Program.

 

Options

 

Information regarding options outstanding as of June 30, 2025 is as follows:

 

   

Number

of options

    

Weighted

average exercise

price

    

Weighted

average

remaining life

(years)

  

Outstanding, December 31, 2024

     977     $ 3.74       3.5  

Issued

     -       -       -  

Exercised

     (181 )     3.78       -  

Forfeited

     -       -       -  

Outstanding, June 30, 2025

     796     $ 3.73       3.6  

 

Outstanding

    

Exercisable

  

Exercise price

per share

    

Total number

of options

    

Weighted

average

remaining life

(years)

    

Weighted

average

exercise price

    

Number of

vested options

    

Weighted

average

exercise price

  
                                                 
$ 0.35 - 2.38       542       3.7     $ 0.77       542     $ 0.77  
$ 7.83 - 16.92       254       3.5     $ 10.06       154     $ 9.68  
              796       3.6    

$

 3.73       696    

$

 2.74  

 

The closing stock price for the Company’s stock on June 30, 2025 was $13.02, resulting in an intrinsic value of outstanding options of $7,475.

 

During the three-month periods ended June 30, 2025 and 2024, the Company recognized stock-based compensation of $99 and $101, respectively, related to stock options. During the six-month periods ended June 30, 2025 and 2024, the Company recognized stock-based compensation of $206 and $203, respectively, related to stock options. As of June 30, 2025 there is $234 of unamortized stock-based compensation related to stock options.