v3.26.1
Stock Option Plan
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Stock Option Plan Stock Option Plan
In 2010, the Company adopted the 2010 Equity Incentive Plan (the “2010 Plan”), which provides for the grant of restricted stock awards, stock options, and other share-based awards to employees, consultants, and directors. In November 2020, the Board extended the term of the 2010 Plan to July 1, 2021. In 2021, the Company adopted the 2020 Equity Incentive Plan (the “2020 Plan”), which provides for the grant of restricted stock awards, incentive and non-statutory stock options, and other share-based awards to employees, consultants, and directors. In August 2025, the 2020 Plan was amended, as approved by shareholders, to increase the shares of common stock reserved for issuance under the plan by 20,756 shares. As of March 31, 2026, there is an aggregate of 20,833 shares of common stock reserved for issuance under the 2020 Plan. All options granted to date have a ten year contractual life and vesting terms of four years. In general, vested options expire if not exercised 90 days after termination of service. A total of 7,458 shares of common stock remained available for future issuance under the 2020 Plan as of July 6, 2026. Forfeitures are accounted for as they occur.
Stock-based compensation expense recognized in selling, general, and administrative, and research and development are as follows:
Three Months Ended March 31,
20262025
Options$1,682 $554,659 
    Total$1,682 $554,659 

The following is a summary of the stock option activity under the 2010 Plan for the three months ended March 31, 2026:
SharesWeighted-
Average
Exercise
Price per
Share($)		Weighted-
Average
Remaining
Contractual
Term
(Years)		Aggregate Intrinsic Value($)
Outstanding - December 31, 202512 1,250,911.84 2.90— 
Granted— — — — 
Exercised— — — — 
Forfeited— — — — 
Expired/Cancelled(1)1,199,983.10 — — 
Outstanding - March 31, 202611 1,257,054.00 2.99— 
Options Exercisable at March 31, 202611 1,257,054.00 2.99— 
Options Vested at March 31, 2026
11 1,257,054.00 2.99— 
The weighted-average grant-date fair value of options granted during the three months ended March 31, 2026 was zero.

The following is a summary of the stock option activity under the 2020 Plan for the three months ended March 31, 2026:
SharesWeighted-
Average
Exercise
Price per
Share ($)		Weighted-
Average
Remaining
Contractual
Term
(Years)		Aggregate Intrinsic Value($)
Outstanding - December 31, 202510,467 3,262.29 9.88— 
Granted— — — — 
Exercised— — — — 
Forfeited— — — — 
Expired/Cancelled(1)2,376,000.00 — — 
Outstanding - March 31, 202610,467 3,136.34 9.64— 
Options Exercisable at March 31, 202610,467 3,127.63 9.64— 
Options Vested at March 31, 2026
10,467 3,136.34 9.64— 
The weighted-average grant-date fair value of options granted during the three months ended March 31, 2026 was zero.
Other Information:
Three Months Ended
March 31,		 
20262025
Amount received from option exercised$— $— 
March 31, 2026Weighted average remaining recognition period
Total unrecognized options compensation costs$6,791  1.27
No amounts relating to the 2010 Plan or 2020 Plan have been capitalized. Compensation cost is recognized over the requisite service period based on the fair value of the options.

The Company did not have any nonvested restricted stock units as of the three months ended March 31, 2026.
As of March 31, 2026, there were no unrecognized compensation cost related to nonvested restricted stock.