v3.26.1
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
Pay Versus Performance
As required by Item 402(v) of Regulation S-K, the following table and related disclosure provide information about (i) the “total compensation” of our Principal Executive Officers (“PEOs”), and our other named executive officers (the “Other NEOs” or the “Non-PEO NEOs”) as presented in the “Summary Compensation Table” included elsewhere in this proxy statement, (ii) the “compensation actually paid” to our PEOs and our Other NEOs, as calculated pursuant to the SEC’s pay-versus-performance rules, (iii) certain financial performance measures and (iv) the relationship of the “compensation actually paid” to those financial performance measures.
This disclosure has been prepared in accordance with Item 402(v) of Regulation S-K under the Exchange Act, and does not necessarily reflect value actually realized by the executives or how our Compensation Committee evaluates compensation decisions in light of company or individual performance.
Year
​ ​
Summary
Compensation
Table Total
for PEO:
Jung(1)
​ ​
Compensation
Actually
Paid to
PEO:
Jung(2)(3)
​ ​
Summary
Compensation
Table Total
for PEO:
Rowe(1)
​ ​
Compensation
Actually
Paid to
PEO:
Rowe(2)(3)
​ ​
Average
Summary
Compensation
Table Total
for Non-PEO
NEOs(1)
​ ​
Average
Compensation
Actually Paid
to
Non-PEO
NEOs(2)(3)
​ ​
Value of
Initial
Fixed
$100
Investment
Based On
Total
Shareholder
Return(4)
​ ​
Net
Loss
(in
thousands)
​
2025
​ ​ ​ $ 9,286,089 ​ ​ ​ ​ $ 4,586,089 ​ ​ ​ ​ $ 488,078 ​ ​ ​ ​ $ 376,064 ​ ​ ​ ​ $ 1,983,782 ​ ​ ​ ​ $ 870,982 ​ ​ ​ ​ $ 89.00 ​ ​ ​ ​ $ (45,314) ​ ​
2024
​ ​ ​ ​ N/A ​ ​ ​ ​ ​ N/A ​ ​ ​ ​ $ 807,756 ​ ​ ​ ​ $ 509,675 ​ ​ ​ ​ $ 413,269 ​ ​ ​ ​ $ 292,520 ​ ​ ​ ​ $ 3.75 ​ ​ ​ ​ $ (49,818) ​ ​
2023
​ ​ ​ ​ N/A ​ ​ ​ ​ ​ N/A ​ ​ ​ ​ $ 775,468 ​ ​ ​ ​ $ 1,184,606 ​ ​ ​ ​ $ 626,221 ​ ​ ​ ​ $ 658,059 ​ ​ ​ ​ $ 52.00 ​ ​ ​ ​ $ (27,261) ​ ​
​
(1)
In 2025, each of Mr. Jung and Mr. Rowe served as our PEO for part of the year. Mr. Rowe served as our only PEO in 2023 and 2024. Mr. Rowe resigned as PEO effective November 1, 2025. The Non-PEO NEOs for whom the average compensation is presented in this table for 2025 are Mr. Knox and Mr. Kern, for 2024 are Mr. Gandolfo, Mr. Kern and Mr. Jones; and for 2023 are Mr. Gandolfo and Mr. Kern. Mr. Gandolfo retired in November 2024. Mr. Kern ended his employment with the Company in July 2025. Mr. Jones served as our Chief Financial Officer from August 2024 to November 2024.
​
(2)
The amounts shown as Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually realized or received by the Company’s NEOs. These amounts reflect total compensation as set forth in the Summary Compensation Table for each year, adjusted as described in footnote 3 below.
​
(3)
Compensation Actually Paid reflects the exclusions and inclusions for the PEOs and the Non-PEO NEOs set forth below. Amounts excluded, which are set forth in the table below, represent the Stock Awards and Option Awards reported in the Stock Awards and Option Awards columns of the Summary Compensation Table for each applicable year. Amounts added back to determine Compensation Actually Paid are made up of the following components, which are set forth in the table below, as applicable: (i) the fair value as of the end of the fiscal year of outstanding and unvested equity awards granted in that year; (ii) the change in fair value during the year of equity awards granted in prior years that remained outstanding and unvested at the end of the year; (iii) the fair value as of the vesting date of equity awards that were granted and vested in that year; and (iv) the change in fair value during the year through the vesting date of equity awards granted in prior years that vested during that year. The fair value at the end of the prior year of awards granted in any prior year that failed to meet applicable vesting conditions during the covered year have been subtracted. Equity values are calculated in accordance with ASC Topic 718.
​
(4)
Reflects the cumulative shareholder return over the relevant fiscal year, computed in accordance with SEC rules. The value in this column is the value at the end of each applicable year assuming a $100 investment was made in the Company’s common stock on December 31, 2022. The closing price of our common stock on December 31, 2022 was $1.63, the closing price of our common stock on December 31, 2023 was $2.08, the closing price of our common stock on December 31, 2024 was $0.15 and the closing price of our common stock on December 31, 2025 was $3.56. All prices reflect the Reverse Stock Split of common stock at a ratio of 1-for-80 that occurred on January 31, 2025.
​
In accordance with the requirements of Item 402(v) of Regulation S-K, the following table details the adjustments to the Summary Compensation Table to determine “compensation actually paid” for the PEOs and NEOs. The dollar amounts do not reflect actual compensation earned by or paid to our PEOs and NEOs during the applicable year.
​ ​ ​
PEO: Jung
​ ​
PEO: Rowe
​ ​
Non-PEO NEOs
​
​ ​ ​
2025
​ ​
2024
​ ​
2023
​ ​
2025
​ ​
2024
​ ​
2023
​ ​
2025
​ ​
2024
​ ​
2023
​
Summary Compensation Table Total
​ ​ ​ $ 9,286,089 ​ ​ ​ ​ ​ N/A ​ ​ ​ ​ ​ N/A ​ ​ ​ ​ $ 488,078 ​ ​ ​ ​ $ 807,756 ​ ​ ​ ​ $ 775,468 ​ ​ ​ ​ $ 1,983,782 ​ ​ ​ ​ $ 413,269 ​ ​ ​ ​ $ 626,221 ​ ​
Less: Grant Date Fair Value of Stock Awards
Granted in Fiscal Year
​ ​ ​ ​ (9,150,000) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (16,014) ​ ​ ​ ​ ​ (101,230) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (1,562,750) ​ ​ ​ ​ ​ (77,234) ​ ​ ​ ​ ​ (129,351) ​ ​
Less: Fair Value as of Prior Fiscal Year-End of Stock Awards Granted in Prior Fiscal Years that Failed to Meet Applicable Vesting Conditions During Fiscal Year
​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (2,200) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (84,050) ​ ​ ​ ​ ​ (14,133) ​ ​ ​ ​ ​ — ​ ​
Add: Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Awards Granted in Fiscal Year
​ ​ ​ ​ 4,450,000 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 2,200 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 534,000 ​ ​ ​ ​ ​ 933 ​ ​ ​ ​ ​ 138,600 ​ ​
Add: Change in Fair Value of Outstanding and Unvested Stock Awards Granted in Prior Fiscal Year
​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (48,900) ​ ​ ​ ​ ​ 371,700 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (2,800) ​ ​ ​ ​ ​ 11,000 ​ ​
Add: Fair Value of Vesting of Stock Awards
Granted in Fiscal Year that Vested During
Fiscal Year
​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​
Add: Change in Fair Value as of Vesting
Date of Stock Awards Granted in Prior
Fiscal Years for Which Applicable Vesting
Conditions Were Satisfied During Fiscal
Year
​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (93,800) ​ ​ ​ ​ ​ (150,151) ​ ​ ​ ​ ​ 37,438 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (27,515) ​ ​ ​ ​ ​ 11,590 ​ ​
Average Compensation Actually Paid
​ ​ ​ $ 4,586,089 ​ ​ ​ ​ ​ N/A ​ ​ ​ ​ ​ N/A ​ ​ ​ ​ $ 376,064 ​ ​ ​ ​ $ 509,675 ​ ​ ​ ​ $ 1,184,606 ​ ​ ​ ​ $ 870,982 ​ ​ ​ ​ $ 292,520 ​ ​ ​ ​ $ 658,059 ​ ​
(1)
In July 2025, Mr. Kern left the Company and effective November 1, 2025, Mr. Rowe resigned from the Company, each forfeiting unvested option awards previously granted. In November 2024, Mr. Gandolfo and Mr. Jones resigned from the Company, thus forfeiting the unvested option awards previously granted. The year-end fair value of equity awards granted to Mr. Gandolfo and Mr. Jones in 2024 did not vest and therefore have been excluded. This treatment is in accordance with Item 402(v) of Regulation S-K.
     
Named Executive Officers, Footnote
In 2025, each of Mr. Jung and Mr. Rowe served as our PEO for part of the year. Mr. Rowe served as our only PEO in 2023 and 2024. Mr. Rowe resigned as PEO effective November 1, 2025. The Non-PEO NEOs for whom the average compensation is presented in this table for 2025 are Mr. Knox and Mr. Kern, for 2024 are Mr. Gandolfo, Mr. Kern and Mr. Jones; and for 2023 are Mr. Gandolfo and Mr. Kern. Mr. Gandolfo retired in November 2024. Mr. Kern ended his employment with the Company in July 2025. Mr. Jones served as our Chief Financial Officer from August 2024 to November 2024.
     
Adjustment To PEO Compensation, Footnote
(3)
Compensation Actually Paid reflects the exclusions and inclusions for the PEOs and the Non-PEO NEOs set forth below. Amounts excluded, which are set forth in the table below, represent the Stock Awards and Option Awards reported in the Stock Awards and Option Awards columns of the Summary Compensation Table for each applicable year. Amounts added back to determine Compensation Actually Paid are made up of the following components, which are set forth in the table below, as applicable: (i) the fair value as of the end of the fiscal year of outstanding and unvested equity awards granted in that year; (ii) the change in fair value during the year of equity awards granted in prior years that remained outstanding and unvested at the end of the year; (iii) the fair value as of the vesting date of equity awards that were granted and vested in that year; and (iv) the change in fair value during the year through the vesting date of equity awards granted in prior years that vested during that year. The fair value at the end of the prior year of awards granted in any prior year that failed to meet applicable vesting conditions during the covered year have been subtracted. Equity values are calculated in accordance with ASC Topic 718.
(4)
Reflects the cumulative shareholder return over the relevant fiscal year, computed in accordance with SEC rules. The value in this column is the value at the end of each applicable year assuming a $100 investment was made in the Company’s common stock on December 31, 2022. The closing price of our common stock on December 31, 2022 was $1.63, the closing price of our common stock on December 31, 2023 was $2.08, the closing price of our common stock on December 31, 2024 was $0.15 and the closing price of our common stock on December 31, 2025 was $3.56. All prices reflect the Reverse Stock Split of common stock at a ratio of 1-for-80 that occurred on January 31, 2025.
In accordance with the requirements of Item 402(v) of Regulation S-K, the following table details the adjustments to the Summary Compensation Table to determine “compensation actually paid” for the PEOs and NEOs. The dollar amounts do not reflect actual compensation earned by or paid to our PEOs and NEOs during the applicable year.
​ ​ ​
PEO: Jung
​ ​
PEO: Rowe
​ ​
Non-PEO NEOs
​
​ ​ ​
2025
​ ​
2024
​ ​
2023
​ ​
2025
​ ​
2024
​ ​
2023
​ ​
2025
​ ​
2024
​ ​
2023
​
Summary Compensation Table Total
​ ​ ​ $ 9,286,089 ​ ​ ​ ​ ​ N/A ​ ​ ​ ​ ​ N/A ​ ​ ​ ​ $ 488,078 ​ ​ ​ ​ $ 807,756 ​ ​ ​ ​ $ 775,468 ​ ​ ​ ​ $ 1,983,782 ​ ​ ​ ​ $ 413,269 ​ ​ ​ ​ $ 626,221 ​ ​
Less: Grant Date Fair Value of Stock Awards
Granted in Fiscal Year
​ ​ ​ ​ (9,150,000) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (16,014) ​ ​ ​ ​ ​ (101,230) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (1,562,750) ​ ​ ​ ​ ​ (77,234) ​ ​ ​ ​ ​ (129,351) ​ ​
Less: Fair Value as of Prior Fiscal Year-End of Stock Awards Granted in Prior Fiscal Years that Failed to Meet Applicable Vesting Conditions During Fiscal Year
​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (2,200) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (84,050) ​ ​ ​ ​ ​ (14,133) ​ ​ ​ ​ ​ — ​ ​
Add: Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Awards Granted in Fiscal Year
​ ​ ​ ​ 4,450,000 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 2,200 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 534,000 ​ ​ ​ ​ ​ 933 ​ ​ ​ ​ ​ 138,600 ​ ​
Add: Change in Fair Value of Outstanding and Unvested Stock Awards Granted in Prior Fiscal Year
​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (48,900) ​ ​ ​ ​ ​ 371,700 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (2,800) ​ ​ ​ ​ ​ 11,000 ​ ​
Add: Fair Value of Vesting of Stock Awards
Granted in Fiscal Year that Vested During
Fiscal Year
​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​
Add: Change in Fair Value as of Vesting
Date of Stock Awards Granted in Prior
Fiscal Years for Which Applicable Vesting
Conditions Were Satisfied During Fiscal
Year
​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (93,800) ​ ​ ​ ​ ​ (150,151) ​ ​ ​ ​ ​ 37,438 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (27,515) ​ ​ ​ ​ ​ 11,590 ​ ​
Average Compensation Actually Paid
​ ​ ​ $ 4,586,089 ​ ​ ​ ​ ​ N/A ​ ​ ​ ​ ​ N/A ​ ​ ​ ​ $ 376,064 ​ ​ ​ ​ $ 509,675 ​ ​ ​ ​ $ 1,184,606 ​ ​ ​ ​ $ 870,982 ​ ​ ​ ​ $ 292,520 ​ ​ ​ ​ $ 658,059 ​ ​
(1)
In July 2025, Mr. Kern left the Company and effective November 1, 2025, Mr. Rowe resigned from the Company, each forfeiting unvested option awards previously granted. In November 2024, Mr. Gandolfo and Mr. Jones resigned from the Company, thus forfeiting the unvested option awards previously granted. The year-end fair value of equity awards granted to Mr. Gandolfo and Mr. Jones in 2024 did not vest and therefore have been excluded. This treatment is in accordance with Item 402(v) of Regulation S-K.
     
Non-PEO NEO Average Total Compensation Amount $ 1,983,782 $ 413,269 $ 626,221  
Non-PEO NEO Average Compensation Actually Paid Amount $ 870,982 292,520 658,059  
Adjustment to Non-PEO NEO Compensation Footnote
(3)
Compensation Actually Paid reflects the exclusions and inclusions for the PEOs and the Non-PEO NEOs set forth below. Amounts excluded, which are set forth in the table below, represent the Stock Awards and Option Awards reported in the Stock Awards and Option Awards columns of the Summary Compensation Table for each applicable year. Amounts added back to determine Compensation Actually Paid are made up of the following components, which are set forth in the table below, as applicable: (i) the fair value as of the end of the fiscal year of outstanding and unvested equity awards granted in that year; (ii) the change in fair value during the year of equity awards granted in prior years that remained outstanding and unvested at the end of the year; (iii) the fair value as of the vesting date of equity awards that were granted and vested in that year; and (iv) the change in fair value during the year through the vesting date of equity awards granted in prior years that vested during that year. The fair value at the end of the prior year of awards granted in any prior year that failed to meet applicable vesting conditions during the covered year have been subtracted. Equity values are calculated in accordance with ASC Topic 718.
(4)
Reflects the cumulative shareholder return over the relevant fiscal year, computed in accordance with SEC rules. The value in this column is the value at the end of each applicable year assuming a $100 investment was made in the Company’s common stock on December 31, 2022. The closing price of our common stock on December 31, 2022 was $1.63, the closing price of our common stock on December 31, 2023 was $2.08, the closing price of our common stock on December 31, 2024 was $0.15 and the closing price of our common stock on December 31, 2025 was $3.56. All prices reflect the Reverse Stock Split of common stock at a ratio of 1-for-80 that occurred on January 31, 2025.
In accordance with the requirements of Item 402(v) of Regulation S-K, the following table details the adjustments to the Summary Compensation Table to determine “compensation actually paid” for the PEOs and NEOs. The dollar amounts do not reflect actual compensation earned by or paid to our PEOs and NEOs during the applicable year.
​ ​ ​
PEO: Jung
​ ​
PEO: Rowe
​ ​
Non-PEO NEOs
​
​ ​ ​
2025
​ ​
2024
​ ​
2023
​ ​
2025
​ ​
2024
​ ​
2023
​ ​
2025
​ ​
2024
​ ​
2023
​
Summary Compensation Table Total
​ ​ ​ $ 9,286,089 ​ ​ ​ ​ ​ N/A ​ ​ ​ ​ ​ N/A ​ ​ ​ ​ $ 488,078 ​ ​ ​ ​ $ 807,756 ​ ​ ​ ​ $ 775,468 ​ ​ ​ ​ $ 1,983,782 ​ ​ ​ ​ $ 413,269 ​ ​ ​ ​ $ 626,221 ​ ​
Less: Grant Date Fair Value of Stock Awards
Granted in Fiscal Year
​ ​ ​ ​ (9,150,000) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (16,014) ​ ​ ​ ​ ​ (101,230) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (1,562,750) ​ ​ ​ ​ ​ (77,234) ​ ​ ​ ​ ​ (129,351) ​ ​
Less: Fair Value as of Prior Fiscal Year-End of Stock Awards Granted in Prior Fiscal Years that Failed to Meet Applicable Vesting Conditions During Fiscal Year
​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (2,200) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (84,050) ​ ​ ​ ​ ​ (14,133) ​ ​ ​ ​ ​ — ​ ​
Add: Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Awards Granted in Fiscal Year
​ ​ ​ ​ 4,450,000 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 2,200 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 534,000 ​ ​ ​ ​ ​ 933 ​ ​ ​ ​ ​ 138,600 ​ ​
Add: Change in Fair Value of Outstanding and Unvested Stock Awards Granted in Prior Fiscal Year
​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (48,900) ​ ​ ​ ​ ​ 371,700 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (2,800) ​ ​ ​ ​ ​ 11,000 ​ ​
Add: Fair Value of Vesting of Stock Awards
Granted in Fiscal Year that Vested During
Fiscal Year
​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​
Add: Change in Fair Value as of Vesting
Date of Stock Awards Granted in Prior
Fiscal Years for Which Applicable Vesting
Conditions Were Satisfied During Fiscal
Year
​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (93,800) ​ ​ ​ ​ ​ (150,151) ​ ​ ​ ​ ​ 37,438 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (27,515) ​ ​ ​ ​ ​ 11,590 ​ ​
Average Compensation Actually Paid
​ ​ ​ $ 4,586,089 ​ ​ ​ ​ ​ N/A ​ ​ ​ ​ ​ N/A ​ ​ ​ ​ $ 376,064 ​ ​ ​ ​ $ 509,675 ​ ​ ​ ​ $ 1,184,606 ​ ​ ​ ​ $ 870,982 ​ ​ ​ ​ $ 292,520 ​ ​ ​ ​ $ 658,059 ​ ​
(1)
In July 2025, Mr. Kern left the Company and effective November 1, 2025, Mr. Rowe resigned from the Company, each forfeiting unvested option awards previously granted. In November 2024, Mr. Gandolfo and Mr. Jones resigned from the Company, thus forfeiting the unvested option awards previously granted. The year-end fair value of equity awards granted to Mr. Gandolfo and Mr. Jones in 2024 did not vest and therefore have been excluded. This treatment is in accordance with Item 402(v) of Regulation S-K.
     
Compensation Actually Paid vs. Total Shareholder Return
Comparison of “Compensation Actually Paid” to our Total Shareholder Return (“TSR”)
Our TSR was $52.00, $3.65 and $89.00 for the years ended December 31, 2023, 2024 and 2025, respectively. Mr. Jung’s “compensation actually paid” was $4.6 million for the year ended December 31, 2025, and Mr. Rowe’s “compensation actually paid” was $1.2 million, $0.5 million and $0.4 million for the years ended December 31, 2023, 2024 and 2025, respectively. The average “compensation actually paid” to our Other NEOs was $0.7 million, $0.3 million and $0.9 million for the years ended December 31, 2023, 2024 and 2025, respectively. Our TSR decreased in 2024 and increased in 2025; “compensation actually paid” to our PEOs decreased in 2024 and increased in 2025; and average “compensation actually paid” to our Other NEOs decreased in 2024 and increased in 2025.
     
Compensation Actually Paid vs. Net Income
Comparison of “Compensation Actually Paid” to Net Income (Loss)
Our net loss was approximately $27.2 million in 2023, $49.8 million in 2024 and $45.3 million in 2025. Our net loss increased in 2024 and decreased in 2025; “compensation actually paid” to our PEOs decreased in 2024 and increased in 2025; and average “compensation actually paid” to our Other NEOs decreased in 2024 and increased in 2025.
We do not utilize TSR on net income (loss) as performance measures in our executive compensation program; however, we do utilize other performance measures to align executive compensation with the Company’s performance.
The Audit Committee, pursuant to its written charter and our Related Party Transaction Policy, is responsible for reviewing and approving or ratifying any related-party transaction reaching a certain threshold of significance. In the course of its review and approval or ratification of a related-party transaction, the committee, among other things, considers, consistent with Item 404 of Regulation S-K, the following:
whether the terms of the transaction are fair to the Company and on the same basis as would apply if the transaction did not involve the related person;
     
Total Shareholder Return Amount $ 89 3.75 52  
Net Income (Loss) $ (45,314,000) $ (49,818,000) $ (27,261,000)  
PEO Name Mr. Jung      
Share Price $ 3.56 $ 0.15 $ 2.08 $ 1.63
Mr. Jung [Member]        
Pay vs Performance Disclosure        
PEO Total Compensation Amount $ 9,286,089      
PEO Actually Paid Compensation Amount 4,586,089      
Mr. Rowe [Member]        
Pay vs Performance Disclosure        
PEO Total Compensation Amount 488,078 $ 807,756 $ 775,468  
PEO Actually Paid Compensation Amount 376,064 509,675 1,184,606  
PEO | Mr. Jung [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (9,150,000)  
PEO | Mr. Jung [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 4,450,000  
PEO | Mr. Jung [Member] | 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  
PEO | Mr. Jung [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount  
PEO | Mr. Jung [Member] | 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  
PEO | Mr. Jung [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount  
PEO | Mr. Rowe [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (16,014) (101,230)  
PEO | Mr. Rowe [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 2,200  
PEO | Mr. Rowe [Member] | 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 (48,900) 371,700  
PEO | Mr. Rowe [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount  
PEO | Mr. Rowe [Member] | 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 (93,800) (150,151) 37,438  
PEO | Mr. Rowe [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (2,200)  
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 (1,562,750) (77,234) (129,351)  
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 534,000 933 138,600  
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 (2,800) 11,000  
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount  
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 (27,515) 11,590  
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (84,050) $ (14,133)