v3.26.1
Stockholders’ (Deficit) Equity (Tables)
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Schedule of Changes in Stockholders’ Equity

The following are changes in stockholders’ (deficit) equity for the six months ended June 30, 2026 and 2025:

 

   Shares   Amount   Capital   (Deficit)   Total 
   Common Stock   

Additional

paid in

   Accumulated     
   Shares   Amount   Capital   (Deficit)   Total 
                     
Balance December 31, 2024   14,746,172   $       -   $64,199,000   $(63,621,000)  $578,000 
Issuance of common stock for equity compensation, net of shares repurchased for income tax withholding   141,296    -    (161,000)   -    (161,000)
Equity-based compensation expense   -    -    297,000    -    297,000 
Registered issuance of common stock   1,052,793    -    2,974,000    -    2,974,000 
Net loss   -    -    -    (1,641,000)   (1,641,000)
Balance June 30, 2025   15,940,261   $-   $67,309,000   $(65,262,000)  $2,047,000 

 

   Common Stock   

Additional

paid in

   Accumulated     
   Shares   Amount   Capital   (Deficit)   Total 
                     
Balance December 31, 2025   15,969,281$         -   $67,645,000   $(66,315,000)  $1,330,000 
Issuance of common stock for equity compensation, net of shares repurchased for income tax withholding   103,307    -    (55,000)   -    (55,000)
Equity-based compensation expense   -    -    256,000    -    256,000 
Shares issued in settlement of former Arps shareholder and manager notes   135,572    -    420,000    -    420,000 
Issuance of detachable warrants   -    -    487,000         487,000 
Net loss   -    -    -    (2,522,000)   (2,522,000)
Balance June 30, 2026   16,208,160$   -   $68,753,000   $(68,837,000)  $(84,000)
Schedule of Stock Options Activity

The following is a summary of stock option activity for the six months ended June 30, 2026:

 

   Number of Options   Weighted average exercise price per share   Remaining term in years 
Outstanding on December 31, 2025   763,002   $      4.60         5.3 
Granted   29,030   $2.62    8.0 
Forfeited   (22,831)  $2.53      
Outstanding on June 30, 2026   769,201   $4.59    4.8 
                
Exercisable, June 30, 2026   616,932   $5.06    3.9 
Summary of Fair Value of Options Using Black-Sholes Option Pricing Model

The fair value of the options issued was calculated using the Black-Scholes option pricing model, based on the following:

 

   2026 
Expected term (in years)   8.0 
Expected volatility   99.8%
Risk-free interest rate   4.2%
Expected dividends  $- 
Weighted average grant date fair value per share  $2.37 
Schedule of Restricted Stock Award and Restricted Stock Unit Activity

The following is a summary of restricted stock award and restricted stock unit activity for the six months ended June 30, 2026:

 

  

Number of

shares

   Weighted average grant date fair value 
Unvested at December 31, 2025   148,554   $2.75 
Granted   24,251   $2.41 
Vested   (67,622)  $2.49 
Forfeited   -   $- 
Unvested at June 30, 2026   105,183   $2.84 
Schedule of Performance Stock Unit Activity

The following table summarizes the activity for the Company’s unvested PSUs for the six months ended June 30, 2026:

 

   Number of shares   Weighted average grant date fair value 
Unvested at December 31, 2025   66,743   $      2.70 
Vested   (55,211)  $2.63 
Unvested June 30, 2026   11,532   $1.20