v3.25.3
EQUITY BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2025
EQUITY BASED COMPENSATION  
Schedule of compensation costs related to restricted stock and stock options

Three Months Ended

Nine Months Ended

September 30, 

September 30, 

    

2025

    

2024

    

2025

    

2024

Sales, general, and administrative

$

85

$

17

$

193

$

193

Cost of goods sold

1

18

Research and development

 

6

 

(21)

 

14

 

40

Total equity based compensation

$

92

$

(4)

$

225

$

233

Summary of changes in unvested restricted stock

Unvested RSUs

Weighted

Average

Number of

Grant-date

    

Shares

    

Fair Value

$ per share

Unvested at January 1, 2025

 

$

Granted

 

6,946

46.23

Unvested at March 31, 2025

6,946

$

46.23

Unvested at June 30, 2025

6,946

$

46.23

Granted

2,118

1.81

Forfeited

(440)

46.23

Unvested at September 30, 2025

8,624

$

35.32

Schedule of stock option activity

Weighted

Weighted

Average

Average

Remaining

Aggregate

Number of

Exercise

Contractual

Intrinsic

    

Options

    

Price

    

Term

    

Value

$ per share

Outstanding at January 1, 2025

 

$

 

  

 

 

$

Granted

 

20,822

46.23

 

  

 

 

Outstanding at March 31, 2025

 

20,822

$

46.23

 

10.0

years

 

$

Outstanding at June 30, 2025

20,822

$

46.23

9.7

years

$

Granted

6,357

$

1.81

Forfeited

(1,318)

46.23

Outstanding at September 30, 2025

25,861

$

35.31

9.6

years

$

Exercisable at September 30, 2025

 

$

 

years

 

$

Schedule of fair value assumptions

    

2025

Grant date fair value

$31.61

Risk-free interest rate (1)

 

3.99

%

Expected dividend yield (2)

 

%

Expected volatility (3)

 

115.88

%

Expected term of stock options (4)

 

6.17

years

(1) The risk-free interest rate is based on the period matching the expected term of the stock options based on the U.S. Treasury yield curve in effect on the grant date.

(2) The expected dividend yield is assumed as zero. The Company has never paid cash dividends nor does it anticipate paying dividends in the foreseeable future.

(3) The expected volatility is based on historical volatility of the Company’s stock.

(4) The expected term represents the period of time that options granted are expected to be outstanding based on vesting date and contractual term.