8. STOCK COMPENSATION

Stock Option Activity

No stock options were granted, exercised, forfeited, canceled or expired during the three months ended June 30, 2026 or 2025.

As of June 30, 2026, the Company had 135 stock options outstanding, all of which were exercisable, with a weighted-average exercise price of $6,521 and a weighted-average remaining contractual term of 4.87 years.

As of June 30, 2026, the aggregate intrinsic value of the Company’s outstanding stock options was zero.

The Company recognized stock-based compensation expense of $50,000 and $72,442 for the three months ended June 30, 2026 and 2025, respectively. Stock-based compensation expense recognized during the three months ended June 30, 2026 related solely to restricted stock units, while the expense recognized during the three months ended June 30, 2025 related to both restricted stock units and stock options. Stock-based compensation expense is included in payroll and related expenses in the accompanying condensed consolidated statements of operations.

The following table summarizes nonvested restricted stock unit (“RSU”) activity during the three months ended June 30, 2026:

As of June 30, 2026, there was approximately $150,000 of total unrecognized stock-based compensation expense related to nonvested RSUs, which is expected to be recognized over a weighted-average period of 0.75 years.