v3.26.1
Stockholders’ Equity (Tables)
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Schedule of Changes in Stockholders’ Equity

The following are changes in stockholders’ equity for the three months ended March 31, 2025 and 2026:

 

           Additional         
   Common Stock   paid in   Accumulated     
   Shares   Amount   Capital   (Deficit)   Total 
                     
Balance December 31, 2024   14,746,172   $       -   $64,199,000   $(63,621,000)  $578,000 
Issuance of common stock for equity compensation, net of shares repurchased for income tax withholding   121,082    -    (160,000)   -    (160,000)
Equity-based compensation expense   -    -    158,000    -    158,000 
Registered issuance of common stock   1,052,793    -    2,974,000    -    2,974,000 
Net loss   -    -    -    (761,000)   (761,000)
Balance March 31, 2025   15,920,047   $-   $67,171,000   $(64,382,000)  $2,789,000 

 

           Additional         
   Common Stock   paid in   Accumulated     
   Shares   Amount   Capital   (Deficit)   Total 
                     
Balance December 31, 2025   15,969,281   $       -   $67,645,000   $(66,315,000)  $1,330,000 
Equity-based compensation expense   -    -    102,000    -    102,000 
Shares issued in settlement of former Arps shareholder and manager notes   135,572    -    420,000    -    420,000 
Issuance of detachable warrants   -    -    487,000         487,000 
Net loss   -    -    -    (661,000)   (661,000)
Balance March 31, 2026   16,104,853   $-   $68,654,000   $(66,976,000)  $1,678,000 
Statement of Stockholders' Equity [Abstract]  
Schedule of Stock Options Activity

The following is a summary of stock option activity for the three months ended March 31, 2026:

 

  

Number of

Options

  

Weighted average

exercise price

per share

  

Remaining

term in years

 
Outstanding on December 31, 2025   763,002   $4.60    5.3 
Granted   1,923   $2.81    8.0 
Forfeited   (22,831)  $2.53      
Outstanding on March 31, 2026   742,094   $4.66    4.9 
                
Exercisable, March 31, 2026   538,842   $5.39    3.6 
Summary of Fair Value of Options Using Black-Sholes Option Pricing Model

The fair value of the options issued was calculated using the Black-Scholes option pricing model, based on the following:

 

   2026 
Expected term (in years)   8.0 
Expected volatility   98.3%
Risk-free interest rate   4.2%
Expected dividends  $- 
Weighted average grant date fair value per share  $2.42