v3.26.1
Share-based Compensation
6 Months Ended
Jun. 30, 2026
Share-based Compensation  
Share-based Compensation

11. Share-based Compensation

The Company determines the fair value of share-based payments on the date of grant using the Black-Scholes option pricing model in accordance with ASC Topic 718, which requires assumptions regarding the risk-free interest rate, the expected life of the awards, expected volatility over the term of the awards, and expected dividends. No stock options were granted during the three and six months ended June 30, 2026 or 2025.

 

A summary of the stock option activity under the Company’s plans for the six months ended June 30, 2026, is as follows:


 

 

Number of shares

 

 

Weighted average exercise price

 

Options outstanding at beginning of year

 

 

19,716

 

 

$

35.33

 

Granted

 

 

 

 

 

 

Less:

 

 

 

 

 

 

 

 

    Exercised





    Forfeited prior to vesting





Canceled or expired

 

 

(14,215

)

 

 

12.58

 

Options outstanding at June 30, 2026

 

 

5,501

 

 

 

96.60

 

Options exercisable at end of June 30, 2026

 

 

5,501

 

$

96.60

 

 

All outstanding options were fully vested and exercisable as of June 30, 2026, and had no aggregate intrinsic value as the exercise price exceeded the market price of the Company's common stock. As of June 30, 2026, total remaining unrecognized compensation cost related to non-vested stock options, net of forfeitures, was $0.


Share based compensation expense has been recorded as follows: 

 

 

 

Three months ended June 30,

 


Six months ended June 30,

 

 

2026

 

 

2025

 


2026

2025

Cost of goods sold

 

$

 

 

$

1

 


$

$ 1

Sales and marketing

 

 

 

 

(1

)





Research and product development

 

 

 

 

 

3

 






7

General and administrative

 

 

 

 

 

18

 






36

 

 

$

 

 

$

21

 


$

$ 44

 

On July 17, 2026, the Board of Directors adopted the Company's 2026 Omnibus Incentive Plan. No awards had been granted under the plan as of the date of this report. See Note 14 — Subsequent Events.