RESTRICTED STOCK UNITS

6 Months Ended

Jun. 30, 2026

NOTE 12 – RESTRICTED STOCK UNITS

A summary of RSU activity for the six months ended June 30, 2026 is presented below:

							Weighted-
							Average
							Grant Date
	Shares			Fair Value			Fair Value
Unvested at December 31, 2025		755,222		$	1,164,000		$	1.54
Granted		908,062			963,000			1.06
Vested / deemed vested		(199,768	)		(221,000	)		1.10
Forfeited		(200,000	)		(312,000	)		1.56
Unvested at June 31, 2026		1,263,516		$	1,594,000		$	1.26

During the six months ended June 30, 2026, the Company issued 189,357 RSUs to directors for services to be rendered with a fair value of $223,000. The shares were valued based on the market value of the Company’s common stock price on the grant date and will be amortized over their vesting term.

During the six months ended June 30, 2026, the Company issued 256,851 RSUs to officers for services to be rendered with a fair value of $529,000. The shares were valued based on the market value of the Company’s common stock price on the grant date and will be amortized over their vesting term.

During the six months ended June 30, 2026, the Company issued 185,023 RSUs to employees for services to be rendered with a fair value of $191,000. The shares were valued based on the market value of the Company’s common stock price on the grant date and will be amortized over their vesting term.

During the six months ended June 30, 2026, the Company issued 20,000 RSUs to a consultant for services rendered with a fair value of $20,000. The shares were valued based on the market value of the Company’s common stock price on the grant date and expensed on the grant date.

The total fair value of RSUs that vested or were deemed vested during the six months ended June 30, 2026 was $221,000 and recognized as an expense and included in selling, general and administrative expenses.