v3.26.1
Share-based Issuances
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Share-based Issuances

Note 6 – Share-based Issuances

 

Stock Options

 

The fair value of each option award is estimated on the date of grant using a Black Scholes option valuation model that uses the assumptions noted in the following table. Because Black Scholes option valuation models incorporate ranges of assumptions for inputs, these ranges are disclosed. Expected volatilities and based on implied volatilities from traded options on the Company’s stock, historical volatility of the Company’s stock, and other factors. The expected term of options granted is derived from the output of the valuation model and represents the period of time that options granted are expected to be outstanding. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant.

 

The following table presents the activity for stock options outstanding:

          
   Options   Weighted Average Exercise Price 
Outstanding - December 31, 2025   17,640   $79.66 
Granted   –    – 
Forfeited/canceled   –    – 
Exercised   –    – 
Outstanding – June 30, 2026   17,640   $79.66 

 

         
   Options   Weighted Average Exercise Price 
Outstanding - December 31, 2024   4,460   $953.88 
Granted   –    – 
Forfeited/canceled   –    – 
Exercised   –    – 
Outstanding – June 30, 2025   4,460   $953.88 

 

The following table presents the composition of options outstanding and exercisable:

             
   Options Outstanding**      Options Exercisable** 
Exercise Prices  Number   Price   Life*  Number   Price* 
$14.94   13,564   $14.94   9.45   5,203   $14.94 
$66.75   3,821   $66.75   8.76   3,821   $66.75 
$818.13   144   $818.13   7.71   71   $818.13 
$1,295.91   16   $1,295.91   7.19   12   $1,295.91 
$5,857.78   43   $5,857.78   5.88   43   $5,857.78 
$9,130.28   20   $9,130.28   5.37   20   $9,130.28 
$9,475.72   16   $9,475.72   1.84   16   $9,475.72 
$13,927.65   16   $13,927.65   3.38   16   $13,927.65 
Total - June 30, 2026   17,640            9,202      

 

* Price and Life reflect the weighted average exercise price and weighted average remaining contractual life, respectively.
** The Company’s common stock outstanding as of June 30, 2026 and December 31, 2025 has been retroactively restated for the effect of the 1-for 7.7 reverse stock split effective March 31, 2026.

 

Restricted Stock Units

 

The following table presents the activity for restricted stock units outstanding:

          
  

Restricted Stock

Units

  

Weighted Average

Grant Date

Fair Value

 
Outstanding - December 31, 2024   40   $7,398.47 
Granted   –    – 
Forfeited/canceled   4    – 
Exercised   (44)   7,398.47 
Outstanding – June 30, 2025   –   $– 

 

The Company recognized share-based compensation expense related to stock options and restricted stock units of $15,087 and $21,158 for the three months ended June 30, 2026 and 2025, respectively and $29,984 and $98,064 for the six months ended June 30, 2026 and 2025. The remaining unvested share-based compensation expense of $140,678 is expected to be recognized over the next 39 months.