Pay vs Performance Disclosure - USD ($)
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2 Months Ended |
3 Months Ended |
5 Months Ended |
9 Months Ended |
10 Months Ended |
12 Months Ended |
Feb. 26, 2025 |
Feb. 20, 2024 |
Apr. 07, 2023 |
Dec. 31, 2024 |
Aug. 03, 2024 |
Dec. 31, 2023 |
Dec. 31, 2025 |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
| Pay vs Performance Disclosure |
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| Pay vs Performance Disclosure, Table |
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PAY VERSUS PERFORMANCE The following disclosure sets forth information regarding pay versus performance for each of our principal executive officer (“PEO”) and our non-PEO named executive officers (“non-PEO NEOs”) for each of our fiscal years ended December 31, 2025, 2024 and 2023 in accordance with the SEC’s disclosure requirements. | | | | | | | | | | | | | | | | | | | | | | | | | 2025 | | | $0 | | | $0 | | | $206,542 | | | $206,542 | | | $82,187 | | | $82,187 | | | $67.58 | | | $1,072,434 | 2024 | | | $37,500 | | | $37,500 | | | $402,250 | | | $402,250 | | | $0 | | | $0 | | | $4.63 | | | $(4,224,278) | 2023 | | | $346,393 | | | $346,393 | | | $0 | | | $0 | | | $145,131 | | | $145,131 | | | $41.47 | | | $(17,633,924) | | | | | | | | | | | | | | | | | | | | | | | | | |
(1)
| The dollar amounts reported are the amounts of total compensation reported in the “Total” column of the Summary Compensation Table (the “SCT”) for David Lazar (former Chief Executive Officer) for 2025, Jeremy Hitchcock (former Chief Executive Officer) for 2024 and Mehul Patel (former Chief Executive Officer) for 2023. Because the Company did not grant equity-based compensation to Jeremy Hitchcock or Mehul Patel or maintain defined benefit pension plans during the periods presented, the SCT Total for Jeremy Hitchcock and Mehul Patel was not subject to any such adjustments. Further, the equity award granted to David Lazar was fully-vested as of the date of grant, resulting in the fair value of the equity award as of the date of vesting, calculated pursuant to ASC 718, being equal to $402,250, the value of the equity award reported in the SCT. Accordingly, the Compensation Actually Paid for each PEO is the same as the total compensation reported in the SCT for each applicable year. |
(2)
| The dollar amounts reported are the amounts of total compensation reported in the “Total” column of the SCT for Li Wai Chung for 2025, David Lazar for 2024 and Jeremy Hitchcock for 2023. Because the Company did not grant equity-based compensation to Li Wai Chung or Jeremy Hitchcock or maintain defined benefit pension plans during the periods presented, the SCT Total for Li Wai Chung and Jeremy Hitchcock was not subject to any such adjustments. Further, the equity award granted to David Lazar was fully-vested as of the date of grant, resulting in the fair value of the equity award as of the date of vesting, calculated pursuant to ASC 718, being equal to $402,250, the value of the equity award reported in the SCT. Accordingly, the Compensation Actually Paid for each PEO is the same as the total compensation reported in the SCT for each applicable year. |
(3)
| Because the Company did not grant equity-based compensation to non-PEO NEOs or maintain defined benefit pension plans during the periods presented, the SCT Total was not subject to any such adjustments. Accordingly, the Average Compensation Actually Paid to non-PEO NEOs is the same as the average total compensation reported in the SCT for each applicable year. |
(4)
| Cumulative Total Shareholder Return is calculated based on a fixed $100 investment in the Company’s common stock on December 30, 2022, which was the market close on the last trading day before the earliest fiscal year in the table, through the end of the applicable fiscal year. |
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| Named Executive Officers, Footnote |
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(1)
| The dollar amounts reported are the amounts of total compensation reported in the “Total” column of the Summary Compensation Table (the “SCT”) for David Lazar (former Chief Executive Officer) for 2025, Jeremy Hitchcock (former Chief Executive Officer) for 2024 and Mehul Patel (former Chief Executive Officer) for 2023. Because the Company did not grant equity-based compensation to Jeremy Hitchcock or Mehul Patel or maintain defined benefit pension plans during the periods presented, the SCT Total for Jeremy Hitchcock and Mehul Patel was not subject to any such adjustments. Further, the equity award granted to David Lazar was fully-vested as of the date of grant, resulting in the fair value of the equity award as of the date of vesting, calculated pursuant to ASC 718, being equal to $402,250, the value of the equity award reported in the SCT. Accordingly, the Compensation Actually Paid for each PEO is the same as the total compensation reported in the SCT for each applicable year. |
(2)
| The dollar amounts reported are the amounts of total compensation reported in the “Total” column of the SCT for Li Wai Chung for 2025, David Lazar for 2024 and Jeremy Hitchcock for 2023. Because the Company did not grant equity-based compensation to Li Wai Chung or Jeremy Hitchcock or maintain defined benefit pension plans during the periods presented, the SCT Total for Li Wai Chung and Jeremy Hitchcock was not subject to any such adjustments. Further, the equity award granted to David Lazar was fully-vested as of the date of grant, resulting in the fair value of the equity award as of the date of vesting, calculated pursuant to ASC 718, being equal to $402,250, the value of the equity award reported in the SCT. Accordingly, the Compensation Actually Paid for each PEO is the same as the total compensation reported in the SCT for each applicable year. |
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| Adjustment To PEO Compensation, Footnote |
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(1)
| The dollar amounts reported are the amounts of total compensation reported in the “Total” column of the Summary Compensation Table (the “SCT”) for David Lazar (former Chief Executive Officer) for 2025, Jeremy Hitchcock (former Chief Executive Officer) for 2024 and Mehul Patel (former Chief Executive Officer) for 2023. Because the Company did not grant equity-based compensation to Jeremy Hitchcock or Mehul Patel or maintain defined benefit pension plans during the periods presented, the SCT Total for Jeremy Hitchcock and Mehul Patel was not subject to any such adjustments. Further, the equity award granted to David Lazar was fully-vested as of the date of grant, resulting in the fair value of the equity award as of the date of vesting, calculated pursuant to ASC 718, being equal to $402,250, the value of the equity award reported in the SCT. Accordingly, the Compensation Actually Paid for each PEO is the same as the total compensation reported in the SCT for each applicable year. |
(2)
| The dollar amounts reported are the amounts of total compensation reported in the “Total” column of the SCT for Li Wai Chung for 2025, David Lazar for 2024 and Jeremy Hitchcock for 2023. Because the Company did not grant equity-based compensation to Li Wai Chung or Jeremy Hitchcock or maintain defined benefit pension plans during the periods presented, the SCT Total for Li Wai Chung and Jeremy Hitchcock was not subject to any such adjustments. Further, the equity award granted to David Lazar was fully-vested as of the date of grant, resulting in the fair value of the equity award as of the date of vesting, calculated pursuant to ASC 718, being equal to $402,250, the value of the equity award reported in the SCT. Accordingly, the Compensation Actually Paid for each PEO is the same as the total compensation reported in the SCT for each applicable year. |
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| Non-PEO NEO Average Total Compensation Amount |
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$ 82,187
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$ 0
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$ 145,131
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| Non-PEO NEO Average Compensation Actually Paid Amount |
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$ 82,187
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0
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145,131
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| Adjustment to Non-PEO NEO Compensation Footnote |
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(3)
| Because the Company did not grant equity-based compensation to non-PEO NEOs or maintain defined benefit pension plans during the periods presented, the SCT Total was not subject to any such adjustments. Accordingly, the Average Compensation Actually Paid to non-PEO NEOs is the same as the average total compensation reported in the SCT for each applicable year. |
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| Compensation Actually Paid vs. Total Shareholder Return |
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During the fiscal years ended December 31, 2025, 2024 and 2023, the Company did not utilize any financial performance measures to link executive compensation actually paid to the Company’s performance. Accordingly, the compensation actually paid to our named executive officers as reflected in the table above consists primarily of base salary and standard benefits. While the Company’s Net Income and Total Shareholder Return fluctuated during these periods as shown in the table, these fluctuations did not result in adjustments to executive compensation.
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| Compensation Actually Paid vs. Net Income |
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During the fiscal years ended December 31, 2025, 2024 and 2023, the Company did not utilize any financial performance measures to link executive compensation actually paid to the Company’s performance. Accordingly, the compensation actually paid to our named executive officers as reflected in the table above consists primarily of base salary and standard benefits. While the Company’s Net Income and Total Shareholder Return fluctuated during these periods as shown in the table, these fluctuations did not result in adjustments to executive compensation.
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| Total Shareholder Return Amount |
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$ 67.58
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4.63
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41.47
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| Net Income (Loss) |
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1,072,434
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(4,224,278)
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(17,633,924)
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| PEO Name |
David Lazar
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Jeremy Hitchcock
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Mehul Patel
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David Lazar
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Jeremy Hitchcock
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Li Wai Chung
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| David Lazar [Member] |
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| Pay vs Performance Disclosure |
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| PEO Total Compensation Amount |
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0
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402,250
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| PEO Actually Paid Compensation Amount |
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0
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402,250
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| PEO Name |
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David Lazar
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| Li Wai Chung [Member] |
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| Pay vs Performance Disclosure |
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| PEO Total Compensation Amount |
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206,542
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| PEO Actually Paid Compensation Amount |
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$ 206,542
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| Jeremy Hitchcock [Member] |
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| Pay vs Performance Disclosure |
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| PEO Total Compensation Amount |
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37,500
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0
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| PEO Actually Paid Compensation Amount |
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37,500
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0
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| PEO Name |
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Jeremy Hitchcock
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| Mehul Patel [Member] |
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| Pay vs Performance Disclosure |
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| PEO Total Compensation Amount |
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346,393
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| PEO Actually Paid Compensation Amount |
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$ 346,393
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| PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
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$ 402,250
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