Pay vs Performance Disclosure - USD ($)
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12 Months Ended |
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Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 29, 2023 |
Dec. 30, 2022 |
| Pay vs Performance Disclosure |
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| Pay vs Performance Disclosure, Table |
| Year | | Summary
Compensation
Table Total for
PEO (1) | | | Compensation
Actually Paid to
PEO (2) | | | Average
Summary
Compensation
Table Total for
Non-PEO
NEOs (3) | | | Average
Compensation
Actually Paid to
Non-PEO
NEOs (4) | | | Value of Initial
Fixed $100
Investment
Based On Total
Stockholder
Return (5) | | | Net Income
(Loss) | | | 2025 | | $ | 5,502,979 | | | $ | (1,725,293 | ) | | $ | 3,466,582 | | | $ | (1,427,298 | ) | | $ | 30.83 | | | $ | (61,899,782 | ) | | 2024 | | $ | 475,239 | | | $ | 3,942,063 | | | $ | 286,636 | | | $ | 2,909,636 | | | $ | 295.83 | | | $ | (17,523,629 | ) | | 2023 | | $ | 333,649 | | | $ | (1,143,851 | ) | | $ | 1,029,036 | | | $ | 311,223 | | | $ | 15.83 | | | $ | (23,693,556 | ) |
| (1) | The dollar amounts reported are the amounts of total compensation reported for our PEO, Michael Mo, in the Summary Compensation Table of this proxy statement for fiscal year 2025 and of our prior proxy statements for fiscal years 2024 and 2023. | | (2) | The dollar amounts reported represent the amount of “compensation actually paid”, as computed in accordance with SEC rules. The dollar amounts reported are the amounts of total compensation reported for Mr. Mo during the applicable year, but also include (i) the year-end value of equity awards granted during the reported year, (ii) the change in the value of equity awards that were unvested at the end of the prior year, measured through the date the awards vested, or through the end of the reported fiscal year, (iii) the value of equity awards issued and vested during the reported fiscal year, and (iv) reduced by the value of equity awards granted in prior years that were forfeited in subsequent years. |
| (3) | The dollar amounts reported are the average of the total compensation reported for our Other NEOs, other than our PEO, namely Mr. Canter and Mr. Walker for 2025, 2024 and 2023. | | (4) | The dollar amounts reported represent the average amount of “compensation actually paid”, as computed in accordance with SEC rules, for our Other NEOs, other than our PEO. The dollar amounts reported are the average of the total compensation reported for our Other NEOs, other than our PEO in the Summary Compensation Table for fiscal years 2025, 2024 and 2023, but also include (i) the year-end value of equity awards granted during the reported year, (ii) the change in the value of equity awards that were unvested at the end of the prior year, measured through the date the awards vested, or through the end of the reported fiscal year, (iii) the value of equity awards issued and vested during the reported fiscal year, and (iv) reduced by the value of equity awards granted in prior years that were forfeited in subsequent years. | | (5) | Assumes an investment of $100 for the period starting on December 30, 2022 through the end of the listed fiscal year. The closing prices of the Company’s common stock as reported on NYSE American, on the following trading days were: (i) $9.60 on December 30, 2022; (ii) $1.52 on December 29, 2023; (iii) $28.40 on December 31, 2024; and (iv) $2.96 on December 31, 2025. |
| * |
The above per share prices reflect the 1-for-8 reverse stock split of our common stock effected on June 23, 2025. |
To calculate the amounts of compensation actually
paid each of the PEO and Other NEOs reported in the table above, the following amounts were deducted from and added (as applicable) to
compensation as reported in the Summary Compensation Table:
| | | PEO | | | Other NEOs | | | | | 2025 | | | 2024 | | | 2023 | | | 2025 | | | 2024 | | | 2023 | | | Summary Compensation Table Total | | $ | 5,502,979 | | | $ | 475,239 | | | $ | 333,649 | | | $ | 3,466,582 | | | $ | 286,636 | | | $ | 1,029,036 | | | Less: Grant Date Fair Value of Equity Awards (1) | | | (4,960,000 | ) | | | (103,043 | ) | | | - | | | | (3,100,000 | ) | | | - | | | | (823,000 | ) | | Less: Prior Year-End Fair Value of Equity Awards Granted in | | | | | | | | | | | | | | | | | | | | | | | | | | Prior Years that Forfeited During the Fiscal Year | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | Add: Year-End Fair Value of Equity Awards Granted in the Year | | | 740,000 | | | | 1,016,117 | | | | - | | | | 462,500 | | | | - | | | | 175,750 | | | Add: Year over Year Change in Fair Value of Outstanding and | | | | | | | | | | | | | | | | | | | | | | | | | | Unvested Equity Awards | | | (1,192,500 | ) | | | 2,520,000 | | | | (1,136,250 | ) | | | (1,768,875 | ) | | | 2,583,000 | | | | (56,813 | ) | | Add: Year over Year Change in Fair Value of Equity Awards Granted | | | | | | | | | | | | | | | | | | | | | | | | | | in Prior Years that Vested in the Year | | | (1,815,772 | ) | | | 33,750 | | | | (341,250 | ) | | | (487,505 | ) | | | 40,000 | | | | (13,750 | ) | | Compensation Actually Paid | | $ | (1,725,293 | ) | | $ | 3,942,063 | | | $ | (1,143,851 | ) | | $ | (1,427,298 | ) | | $ | 2,909,636 | | | $ | 311,223 | |
(1) Represents the grant date fair value of the equity awards
as reported in the Summary Compensation Table. In accordance with Item 402(v) requirements,
the fair values of unvested and outstanding equity awards were remeasured as of the end of each fiscal year, and as of each vesting date,
during the years displayed in the table above. For a discussion of the assumptions made in the valuation of grants, see Note 16 to the
Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2025.
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| Named Executive Officers, Footnote |
(1)The dollar amounts reported are the amounts of total compensation reported for our PEO, Michael Mo, in the Summary Compensation Table of this proxy statement for fiscal year 2025 and of our prior proxy statements for fiscal years 2024 and 2023.(3)The dollar amounts reported are the average of the total compensation reported for our Other NEOs, other than our PEO, namely Mr. Canter and Mr. Walker for 2025, 2024 and 2023.
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| PEO Total Compensation Amount |
$ 5,502,979
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$ 475,239
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$ 333,649
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| PEO Actually Paid Compensation Amount |
$ (1,725,293)
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3,942,063
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(1,143,851)
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| Adjustment To PEO Compensation, Footnote |
To calculate the amounts of compensation actually
paid each of the PEO and Other NEOs reported in the table above, the following amounts were deducted from and added (as applicable) to
compensation as reported in the Summary Compensation Table: | | | PEO | | | Other NEOs | | | | | 2025 | | | 2024 | | | 2023 | | | 2025 | | | 2024 | | | 2023 | | | Summary Compensation Table Total | | $ | 5,502,979 | | | $ | 475,239 | | | $ | 333,649 | | | $ | 3,466,582 | | | $ | 286,636 | | | $ | 1,029,036 | | | Less: Grant Date Fair Value of Equity Awards (1) | | | (4,960,000 | ) | | | (103,043 | ) | | | - | | | | (3,100,000 | ) | | | - | | | | (823,000 | ) | | Less: Prior Year-End Fair Value of Equity Awards Granted in | | | | | | | | | | | | | | | | | | | | | | | | | | Prior Years that Forfeited During the Fiscal Year | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | Add: Year-End Fair Value of Equity Awards Granted in the Year | | | 740,000 | | | | 1,016,117 | | | | - | | | | 462,500 | | | | - | | | | 175,750 | | | Add: Year over Year Change in Fair Value of Outstanding and | | | | | | | | | | | | | | | | | | | | | | | | | | Unvested Equity Awards | | | (1,192,500 | ) | | | 2,520,000 | | | | (1,136,250 | ) | | | (1,768,875 | ) | | | 2,583,000 | | | | (56,813 | ) | | Add: Year over Year Change in Fair Value of Equity Awards Granted | | | | | | | | | | | | | | | | | | | | | | | | | | in Prior Years that Vested in the Year | | | (1,815,772 | ) | | | 33,750 | | | | (341,250 | ) | | | (487,505 | ) | | | 40,000 | | | | (13,750 | ) | | Compensation Actually Paid | | $ | (1,725,293 | ) | | $ | 3,942,063 | | | $ | (1,143,851 | ) | | $ | (1,427,298 | ) | | $ | 2,909,636 | | | $ | 311,223 | | (1) Represents the grant date fair value of the equity awards
as reported in the Summary Compensation Table.
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| Non-PEO NEO Average Total Compensation Amount |
$ 3,466,582
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286,636
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1,029,036
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| Non-PEO NEO Average Compensation Actually Paid Amount |
$ (1,427,298)
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2,909,636
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311,223
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| Adjustment to Non-PEO NEO Compensation Footnote |
To calculate the amounts of compensation actually
paid each of the PEO and Other NEOs reported in the table above, the following amounts were deducted from and added (as applicable) to
compensation as reported in the Summary Compensation Table: | | | PEO | | | Other NEOs | | | | | 2025 | | | 2024 | | | 2023 | | | 2025 | | | 2024 | | | 2023 | | | Summary Compensation Table Total | | $ | 5,502,979 | | | $ | 475,239 | | | $ | 333,649 | | | $ | 3,466,582 | | | $ | 286,636 | | | $ | 1,029,036 | | | Less: Grant Date Fair Value of Equity Awards (1) | | | (4,960,000 | ) | | | (103,043 | ) | | | - | | | | (3,100,000 | ) | | | - | | | | (823,000 | ) | | Less: Prior Year-End Fair Value of Equity Awards Granted in | | | | | | | | | | | | | | | | | | | | | | | | | | Prior Years that Forfeited During the Fiscal Year | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | Add: Year-End Fair Value of Equity Awards Granted in the Year | | | 740,000 | | | | 1,016,117 | | | | - | | | | 462,500 | | | | - | | | | 175,750 | | | Add: Year over Year Change in Fair Value of Outstanding and | | | | | | | | | | | | | | | | | | | | | | | | | | Unvested Equity Awards | | | (1,192,500 | ) | | | 2,520,000 | | | | (1,136,250 | ) | | | (1,768,875 | ) | | | 2,583,000 | | | | (56,813 | ) | | Add: Year over Year Change in Fair Value of Equity Awards Granted | | | | | | | | | | | | | | | | | | | | | | | | | | in Prior Years that Vested in the Year | | | (1,815,772 | ) | | | 33,750 | | | | (341,250 | ) | | | (487,505 | ) | | | 40,000 | | | | (13,750 | ) | | Compensation Actually Paid | | $ | (1,725,293 | ) | | $ | 3,942,063 | | | $ | (1,143,851 | ) | | $ | (1,427,298 | ) | | $ | 2,909,636 | | | $ | 311,223 | | (1) Represents the grant date fair value of the equity awards
as reported in the Summary Compensation Table.
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| Total Shareholder Return Amount |
$ 30.83
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295.83
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15.83
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| Net Income (Loss) |
$ (61,899,782)
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$ (17,523,629)
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(23,693,556)
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| PEO Name |
Michael Mo
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| Common Stock, Closing Price |
$ 2.96
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$ 28.4
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$ 1.52
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$ 9.6
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| PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
$ (4,960,000)
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$ (103,043)
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| PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
740,000
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1,016,117
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| PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
(1,192,500)
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2,520,000
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(1,136,250)
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| PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
(1,815,772)
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33,750
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(341,250)
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| PEO | Prior Year-End Fair Value of Equity Awards Granted in Prior Years that Forfeited During the Fiscal Year [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
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| Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
(3,100,000)
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(823,000)
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| Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
462,500
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175,750
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| Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
(1,768,875)
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2,583,000
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(56,813)
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| Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
(487,505)
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40,000
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(13,750)
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| Non-PEO NEO | Prior Year-End Fair Value of Equity Awards Granted in Prior Years that Forfeited During the Fiscal Year [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
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