Stock Options and Restricted Stock Units (Tables)
|
3 Months Ended |
12 Months Ended |
Mar. 31, 2026 |
Dec. 31, 2025 |
| Stock Options and Restricted Stock Units [Abstract] |
|
|
| Schedule of Company’s Stock Options |
A summary of the status of the Company’s stock options as of March 31, 2026 and December 31, 2025, and changes during the periods then ended are presented below:
|
|
|
Options
|
|
Wtd. Avg.
Exercise
Price
|
|
Balance, January 1, 2025
|
|
417,003 |
|
|
$
|
7.00 |
|
Granted during the period
|
|
60,000 |
|
|
|
3.00 |
|
Exercised during the period
|
|
—
|
|
|
|
—
|
|
Terminated/Expired during the period
|
|
(51,300 |
)
|
|
|
10.57 |
|
Balance, December 31, 2025
|
|
425,703 |
|
|
$
|
6.01 |
|
Granted during the period
|
|
—
|
|
|
|
—
|
|
Exercised during the period
|
|
—
|
|
|
|
—
|
|
Terminated/Expired during the period
|
|
(30,250 |
)
|
|
|
13.90 |
|
Balance, March 31, 2026
|
|
395,453 |
|
|
$
|
5.40 |
| |
|
|
|
|
|
|
|
Exercisable at March 31, 2026
|
|
380,453 |
|
|
$
|
5.50 |
|
A summary of the status of the Company’s stock options as of December 31, 2025 and 2024, and changes during the years then ended are presented below.
|
|
|
Options
|
|
Wtd. Avg.
Exercise
Price
|
|
Balance, January 1, 2024
|
|
461,870 |
|
|
$
|
8.34 |
|
Granted during the period
|
|
80,000 |
|
|
|
3.75 |
|
Exercised during the period
|
|
(15,229 |
)
|
|
|
3.45 |
|
Terminated/Expired during the period
|
|
(109,638 |
)
|
|
|
9.86 |
|
Balance, December 31, 2024
|
|
417,003 |
|
|
$
|
7.00 |
|
Granted during the period
|
|
60,000 |
|
|
|
3.00 |
|
Exercised during the period
|
|
—
|
|
|
|
—
|
|
Terminated/Expired during the period
|
|
(51,300 |
)
|
|
|
10.57 |
|
Balance, December 31, 2025
|
|
425,703 |
|
|
$
|
6.01 |
| |
|
|
|
|
|
|
|
Exercisable at December 31, 2025
|
|
395,703 |
|
|
$
|
6.23 |
|
| Schedule of Summarizes Information About Outstanding Stock Options |
The following table summarizes information about outstanding stock options at March 31, 2026:
| Range of Exercise Price | | Number
Outstanding | | Wtd. Avg,
Life | | Wtd. Avg.
Exercise
Price | | $3.00 – $23.80 | | 395,453 | | 2.4 Years | | $ | 5.50 |
The following table summarizes information about outstanding stock options at December 31, 2025:
| Range of Exercise Price | | Number
Outstanding | | Wtd. Avg,
Life | | Wtd. Avg.
Exercise
Price | | $3.00 – $23.80 | | 425,703 | | 2.5 Years | | $ | 6.01 |
|
The following table summarizes information about outstanding stock options at December 31, 2025:
| Range of Exercise Price | | Number
Outstanding | | Wtd.Avg,
Life | | Wtd. Avg.
Exercise
Price | | $3.00 – $23.80 | | 425,703 | | 2.5 years | | $ | 6.01 |
|
| Schedule of Company’s RSUs |
A summary of the status of the Company’s RSUs as of March 31, 2026, is presented below.
|
|
|
Number of
Units
|
|
Wtd. Avg.
Grant Date
Fair
Value per
Unit
|
|
Unvested units as of January 1, 2025
|
|
282,628 |
|
|
$
|
6.06 |
|
Granted during the period
|
|
3,000 |
|
|
|
—
|
|
Vested during the period
|
|
(95,210 |
)
|
|
|
—
|
|
Forfeited during the period
|
|
(2,000 |
)
|
|
|
—
|
|
Unvested Units as of December 31, 2025
|
|
188,418 |
|
|
$
|
6.06 |
|
Granted during the period
|
|
243,172 |
|
|
|
3.19 |
|
Vested during the period but shares not issued
|
|
(243,172 |
)
|
|
|
3.19 |
|
Forfeited during the period
|
|
—
|
|
|
|
—
|
|
Unvested Units as of March 31, 2026
|
|
188,418 |
|
|
$
|
6.06 |
| |
|
|
|
|
|
|
|
Vested as of March 31, 2026
|
|
338,382 |
|
|
$
|
4.00 |
|
A summary of the status of the Company’s RSUs as of December 31, 2025 is presented below:
|
|
|
Number of
Units
|
|
Weighted
Average
Grant
Date Fair
Value
per Unit
|
|
Unvested Units at January 1, 2024
|
|
—
|
|
|
$
|
—
|
|
Granted during the period
|
|
282,628 |
|
|
|
6.06 |
|
Vested during the period
|
|
—
|
|
|
|
—
|
|
Terminated/Forfeited during the period
|
|
—
|
|
|
|
—
|
|
Unvested Units at December 31, 2024
|
|
282,628 |
|
|
$
|
6.06 |
|
Granted during the period
|
|
3,000 |
|
|
|
6.06 |
|
Vested during the period
|
|
(95,210 |
)
|
|
|
6.06 |
|
Terminated/Forfeited during the period
|
|
(2,000 |
)
|
|
|
6.06 |
|
Unvested Units at December 31, 2025
|
|
188,418 |
|
|
$
|
6.06 |
| |
|
|
|
|
|
|
|
Vested Units at December 31, 2025
|
|
—
|
|
|
$
|
—
|
|
| Schedule of Stock Options Granted |
|
The fair values of stock options granted were estimated using the Black-Sholes option-pricing model with the following assumptions for the years ended December 31:
| | | 2025 | | 2024 | | Risk-free interest rates | | | 3.8 | % | | | 3.8 | % | | Expected life (in years) | | | 2.6 | | | | 2.7 | | | Expected volatility | | | 76.52 | % | | | 64.00 | % | | Dividend yield | | | 0 | % | | | 0 | % | | | | | | | | | | | | Weighted-average grant date fair value per share | | $ | 3.00 | | | $ | 3.75 | |
|