v3.26.1
SHARE-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2026
SHARE-BASED COMPENSATION [Abstract]  
Stock Option Activity

The following table summarizes stock option activity for the six months ended June 30, 2026:

 

      Weighted Average    
   Options on Common Shares   Exercise Price   Remaining Contractual Terms   Aggregate Intrinsic Value 
                 
Outstanding December 31, 2025  6,449,534  $2.05   8.56  $3,706 
Granted  4,818,500   2.12    -     -  
Exercised   -     -     -     -  
Forfeited, cancelled, expired  (1,219,917  2.38    -     -  
Outstanding June 30, 2026  10,048,117   2.04   8.72   6 
Exercisable June 30, 2026  2,994,159  $2.16   8.02  $ -  
Stock Option Activity, Fair Value of Assumptions

The Company uses the Black-Scholes option pricing model to determine the fair value of the service-based options that have been granted. The following table summarizes the assumptions used to compute the fair value of options granted to employees and non-employees:

  Six Months Ended June 30,
   2026   2025 
         
Expected stock price volatility  76%  76%
Risk-free interest rate  3.90%  4.06%
Expected dividend yield  0%  0%
Expected life of options  5.91   6.00 
Weighted-average fair value of options granted $1.47  $1.05 
Restricted Stock Units Activity

The 2017 Plan provides for the grant of restricted stock units (“RSUs”). RSUs are settled in shares of the Company’s Common Stock as the RSUs vest. The following table summarizes RSU activity for the six months ended June 30, 2026:

 

      Weighted Average
   Service-Based RSUs   Grant Date Fair Value   Vesting Period (Years) 
             
Unvested at December 31, 2025  1,014,563  $2.23   3.62 
Granted service based  179,267   1.96    -  
Vested  (164,518  1.96    -  
Forfeited and cancelled   -     -     -  
Unvested at June 30, 2026  1,029,312  $2.23   3.57 
Share-based Compensation for Options and Restricted Stock Units

The Company recorded share-based compensation for options and RSUs in its statements of operations for the relevant periods as follows:

 

    
  Three Months Ended June 30,Six Months Ended June 30,
   2026   2025  2026  2025 
                 
Selling, general and administrative $1,019  $755 $3,403 $2,358 
Research and development   -    15   -   77 
Total share-based expense $1,019  $770 $3,403 $2,435