BASIS OF ACCOUNTING AND PRESENTATION (Policies) |
6 Months Ended |
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Jun. 30, 2026 | |
| BASIS OF ACCOUNTING AND PRESENTATION | |
| Loss per Share | Loss per Share Loss per share is computed using the weighted average number of shares outstanding during the period. In March 2026, the Company completed the 2026 Rights Offering (see Note 7) whereby the Company offered existing shareholders the right to purchase additional common shares at $0.24 per share (the “Offer Price”). Because the Offer Price was significantly lower than the market trading price of the common shares at that time, the discounted Offer Price was considered a bonus element, similar to a stock dividend. As a result, the loss per share calculations for the three and six months ended June 30, 2026 and 2025 have been adjusted retroactively to include the impact of the bonus element. As of June 30, 2026 and 2025, 820,000 and 1,020,000, respectively, potentially dilutive stock options were considered anti-dilutive and excluded from the Company’s loss per share calculations because the Company was in a net loss position for those periods. |
| Investments | Investments At June 30, 2026, the Company’s investment securities consisted of a U.S. Treasury note and certificates of deposit in amounts of $14,975 and $1,750, respectively, with each investment security classified as held to maturity and carried at amortized cost. Securities are classified as held to maturity based on the Company’s intent and ability to hold the security to maturity at the time of purchase. At June 30, 2026, the amortized cost of the Company’s held to maturity investments approximated their estimated fair values, with each security having been acquired during the last week of the quarter. The Company does not intend to sell, nor is it more likely than not that the Company will be required to sell any investment, if in an unrealized loss position, before recovery of its amortized cost basis.
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