COMMON STOCK |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Equity [Abstract] | |
| COMMON STOCK | 7. COMMON STOCK
At June 30, 2026, the Company’s authorized capital stock was shares of common stock, par value $ per share, and shares of preferred stock, par value $ per share. On that date, the Company had shares of common stock issued and shares of common stock outstanding. There were shares of preferred stock outstanding.
Stock-based compensation expense related to Company restricted stock grants for the three and six months ended June 30, 2026 was $ and $, respectively. Stock-based compensation expense related to Company restricted stock grants for the three and six months ended June 30, 2025 was $ and $, respectively.
2026 Transactions – During the three and six months ended June 30, 2026, the Company issued and shares of common stock for vested stock awards, respectively. The Company received proceeds of $125,400 for the exercise of stock options.
The Company granted restricted stock awards during the three and six months ended June 30, 2026; the weighted average grant date fair value was $. The restricted stock awards granted vest over a period of .
2025 Transactions – During the three and six months ended June 30, 2025, the Company issued and shares of common stock, respectively, for vested stock awards and the exercise of stock options. The Company received proceeds of $591,534 from the exercise of stock options.
During the three months ended June 30, 2025, the Company also granted restricted stock awards, of which 1,366,663 shares are subject to performance-based vesting and service requirements. For the stock awards granted, the weighted average grant date fair value was $ and vest over a period of . Awards under performance conditions vest when the Company achieves specific defined earnings target and the employee provides service through each of the vesting periods. The Company expects it is probable that performance targets will be achieved. Compensation costs for performance awards would be reversed if the performance criteria are not met. The Company granted restricted stock awards, of which 1,366,663 shares are subject to performance-based vesting and service requirements and 2,500,000 are part of the Gamma acquisition (see “Note 2. ACQUISITION” in the notes to the accompanying condensed consolidated financial statements) during the six months ended June 30, 2025; the weighted average grant date fair value was $. The restricted stock awards granted vest over a period of .
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