Note 8 - Stock Options and Restricted Shares

6 Months Ended

Jun. 30, 2025

Notes to Financial Statements

Share-Based Payment Arrangement [Text Block]

8.	Stock Options and Restricted Shares

The outstanding options at June 30, 2025 consisted of the following:

										*Weighted*
										*Average*
										*Remaining*
		*Number of*				*Exercise*				*Contractual Life*
		*Shares*				*Price*				*(years)*
Outstanding at December 31, 2024			564,126
Options Granted at $2.50 Exercise Price			415,000			$	2.50
Options Expired at $26.50 Exercise Price			(277	)		$	26.50
Options Expired at $21.10 Exercise Price			(1,377	)		$	21.10
Options Expired at $24.40 Exercise Price			(10,000	)		$	24.40
Options forfeited at $26.50 Exercise Price			(222	)		$	26.50
Options Granted at $2.10 Exercise Price			10,000			$	2.10
Outstanding at June 30, 2025			977,250
Outstanding Options at $20.00 Exercise Price			25,000			$	20.00				6.52
Outstanding Options at $24.00 Exercise Price			9,090			$	24.00				6.52
Outstanding Options at $90.00 Exercise Price			25,675			$	90.00				5.48
Outstanding Options at $262.00Exercise Price			675			$	262.00				2.82
Outstanding Options at $21.00 Exercise Price			58,850			$	21.00				8.03
Outstanding Options at $21.10 Exercise Price			136,460			$	21.10				8.72
Outstanding Options at $26.60 Exercise Price			2,500			$	26.60				8.62
Outstanding Options at $15.00 Exercise Price			80,000			$	15.00				1.55
Outstanding Options at $27.50 Exercise Price			200,000			$	27.50				1.60
Outstanding Option at $17.60 Exercise Price			10,000			$	17.60				8.99
Outstanding Options at $14.90 Exercise Price			2,000			$	14.90				8.99
Outstanding Options at $22.00 Exercise Price			2,000			$	22.00				8.98
Outstanding Options at $2.50 Exercise Price			415,000			$	2.50				9.8
Options Granted at $2.10 Exercise Price			10,000			$	2.10				8.5
Outstanding at June 30, 2025			977,250

At June 30, 2025 944,026 of the outstanding stock options were exercisable. Unrecognized compensation for unvested shares was $161,833.

On March 10, 2025, the Compensation Committee granted the non-employee directors and certain executives and consultants options to purchase 415,000 shares of common stock at an exercise price of $2.50 per share, of which 385,000 of these options vested immediately upon grant and expire on the tenth anniversary of the grant date. The remaining 30,000 options vest on the one-year anniversary of the grant date and expire on the tenth anniversary of the grant date.

On May 21, 2025, the Compensation Committee (the "Compensation Committee") of the Company's Board of Directors (the "Board") granted a consultant options to purchase 10,000 shares of common stock at an exercise price of $2.10 per share, all of which vested immediately upon grant and expire on the tenth anniversary of the grant date.

As of June 30, 2025, the outstanding stock options had intrinsic value of $0.

Performance Options

On February 28, 2024, the Company issued options to an external party to purchase 200,000 shares of the Company's common stock at an exercise price of $27.50 per share, contingent upon achieving certain sales targets. On June 30, 2025, the sales targets were not met and therefore, no compensation expense was recorded for the three and six months ended June 30, 2025, respectively. The Company does not believe that the criteria will be met. These options expire on February 5, 2027.