Total share-based expense related to stock options and restricted stock grants was approximately $52,000 and $16,000 for the three months ended June 30, 2026 and 2025, respectively, and approximately $63,000 and $35,000 for the six months ended June 30, 2026 and 2025, respectively.

Share-based expense is classified in the condensed consolidated statements of operations as follows:

Employee Stock Options and Restricted Stock

No employee stock option awards to purchase shares of common stock were granted or exercised during the three and six months ended June 30, 2026 and 2025. During the six months ended June 30, 2026, options to purchase 102 shares of common stock expired. During the three and six months ended June 30, 2025, options to purchase 64,062 shares and 89,878 shares of common stock expired. The Company granted restricted stock of 100,000 common shares during the three and six months ended June 30, 2026. No Restricted Stock was granted during the three and six months ended June 30, 2025. The Company recognized a total of approximately $52,000 and $16,000 of share-based expense related to employee stock options and restricted stock during the three months ended June 30, 2026 and 2025, respectively, and approximately $63,000 and $35,000 during the six months ended June 30, 2026 and 2025, respectively. Restricted stock of approximately 7,000 shares vested and were issued during the three and six months ended June 30, 2026. No restricted stock vested during the three and six months ended June 30, 2025.

Non-Employee Stock Options

There were no non-employee options outstanding as of both June 30, 2026 and December 31, 2025. No non-employee stock option grants expired during each of the three and six months ended June 30, 2026 and 2025. The Company did not recognize any share-based expense related to non-employee stock options during each of the three and six months ended June 30, 2026 and 2025.