v3.26.1
STOCK OPTIONS
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
STOCK OPTIONS

9. STOCK OPTIONS

 

A summary of option activity for the three months ended March 31, 2026 is presented below.

 

           Weighted-     
       Weighted-   Average     
       Average   Remaining   Aggregate 
       Exercise   Contractual   Intrinsic 
   Options   Price   Life (Years)   Value 
                 
Outstanding at January 1, 2026   31,241   $71.29    3.52   $- 
Granted   -    -    -    - 
Forfeited   (4,034)   238.87    -    - 
Exercised   -    -    -    - 
Outstanding at March 31, 2026   27,207   $46.44    3.47   $- 
                     
Vested at March 31, 2026   27,207   $46.44    3.47   $- 
                     
Exercisable at March 31, 2026   27,207   $46.44    3.47   $- 

 

 

At March 31, 2026, the intrinsic value of the outstanding options was $0.

 

The total stock compensation expense recognized relating to the vesting of stock options for the three months ended March 31, 2026 and 2025 amounted to $0 and $117, respectively.

 

The fair value of share option award is estimated using the Black-Scholes option pricing method based on the following weighted-average assumptions:

  

    Three Months Ended March 31,  
    2026     2025  
Risk-free interest rate     - %     4.46 %
Average expected term     -       5 years  
Expected volatility     - %     144 %
Expected dividend yield     -       -  

 

The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of measurement corresponding with the expected term of the share option award; the expected term represents the weighted-average period of time that share option awards granted are expected to be outstanding giving consideration to vesting schedules and historical participant exercise behavior; the expected volatility is based upon historical volatility of the Company’s common stock; and the expected dividend yield is based on the fact that the Company has not paid dividends in the past and does not expect to pay dividends in the future.