v3.26.1
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table

PAY VERSUS

PERFORMANCE

 

The following information is presented to disclose the relationship between executive compensation actually paid (“CAP”), as calculated under applicable SEC rules, and the Company’s financial performance. As required by SEC rules, the table presented below discloses CAP for (i) the Company’s Principal Executive Officer (“PEO”), Mr. Junli (Jerry) He, and (ii) the Company’s named executive officers (“NEOs”) other than Mr. He, on an average basis. The CAP amounts shown in the table below do not reflect the actual amount of compensation earned by or paid to our NEOs during the applicable year.

 

The methodology for calculating amounts presented in the columns “Compensation Actually Paid PEO” and “Average Compensation Actually Paid for other NEOs,” including details regarding the amounts that were deducted from, and added to, the Summary Compensation Table totals to arrive at the values presented for CAP, are provided in the “Reconciliation of Summary Compensation Total to CAP” table below. Discussion of the relationship between CAP and the Company performance measures is also presented below.

 

The other NEOs for 2025 and 2024 were William Fodor, Hong Yu and Joseph Damasio (the “Other NEOs”).

 

 

Pay Versus Performance Table

 

                   

Average

            

Value of Initial Fixed

          
   

Summary

            

Summary

    

Average

    

$100 Investment

    

Net

  
   

Compensation

    

Compensation

    

Compensation

    

Compensation

    

Based On

    

Income

  
   

Table

    

Actually

    

Table Total

    

Actually Paid

    

Total

    

(Loss)

  
   

Total for

    

Paid to

    

for Non-PEO

    

for Non-PEO

    

Shareholder

    

$ in thousands

  

Year

  

PEO $

    

PEO $

    

NEOs $ (1)

    

NEOs $ (1)

    

Return $ (2)

    

(3)

  

2025

     439,969       365,052       208,703       94,647       33       (6,869 )

2024

     1,277,042       894,529       246,339       (254,472 )     54       (7,732 )

2023

     5,794,693       5,794,693       233,391       105,039       91       (9,022 )

 

 

1.

The other NEOs for 2025 and 2024 were William Fodor, Hong Yu and Joseph Damasio (the “Other NEOs”).

 

 

2.

Reflects the value on December 31 for each period presented of an initial fixed investment of $100 on January 1, 2023.

 

 

3.

Represents the amount of net income (loss) reflected in the Company’s audited financial statements for the applicable year.
   
PEO Total Compensation Amount $ 439,969 $ 1,277,042 $ 5,794,693
PEO Actually Paid Compensation Amount $ 365,052 894,529 5,794,693
Adjustment To PEO Compensation, Footnote

Reconciliation of Summary Compensation Total to CAP

 

Year

  

Executive

  

Summary Compensation Table Total $

    

Subtract Equity Awards $ (1)

    

Add Year-End Equity Value $ (2)

    

Change in Value of Equity Awards $ (3)

    

Change in Value of Vested Equity Awards $ (4)

    

Compensation Actually Paid $

  

2025

  

PEO

     439,969       —       —       (74,917 )     —       365,052  
   

Non PEOs NEOs

     208,703       —       —       (114,056 )     —       94,647  

2024

  

PEO

     1,277,042       (382,513 )     —       —       —       894,529  
   

Non PEO NEOs

     246,339       (1,245,936 )     745,125       —       —       (254,472 )

2023

  

PEO

     5,794,693       (5,389,526 )     5,389,526       —       —       5,794,693  
   

Non PEO NEOs

     233,391       —       —       (128,352 )     —       105,039  

 

(1) Represents the grant date fair value and, for purposes of the Non PEO NEOs, the average grant date fair value, of equity awards granted during the year, as reported in the “Stock Awards” column of the Summary Compensation Table for the applicable year.

 

(2) Represents the end of year fair value and, for purposes of the Non PEO NEOs, the average of the end of year fair value, of equity awards granted during the year that are outstanding and unvested as of the end of year.

 

(3) Represents the change in fair value and, for purposes of Non PEO NEOs, the average change in fair value, as of the end of the applicable year (from the end of the prior fiscal year) of equity awards granted in prior years that were outstanding and unvested as of the end of the year.

 

(4) Represents the change in fair value and, for purposes of Other NEOs, the average change in fair value (from the end of the prior fiscal year to the date of vesting), of equity awards granted in prior years that vested during the year.

 

 

    
Non-PEO NEO Average Total Compensation Amount $ 208,703 246,339 233,391
Non-PEO NEO Average Compensation Actually Paid Amount 94,647 (254,472) 105,039
Total Shareholder Return Amount 33 54 91
Net Income (Loss) $ (6,869,000) (7,732,000) (9,022,000)
PEO Name Mr. Junli (Jerry) He    
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 0 (382,513) (5,389,526)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 5,389,526
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 74,917 0 0
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 (1,245,936) 0
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 745,125 0
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (114,056) 0 (128,352)
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 0 $ 0 $ 0