Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.23.1
Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of stock-based compensation expense
    2023     2022  
Stock Options   $ 13,281       28,730  
Restricted Stock     14,102       89,962  
      27,383       118,692  

 
Schedule of Black-Scholes option pricing model
Risk-Free Interest Rate     3.58 %
Expected Term     5.5-6.25 years  
Expected Volatility     29.24 %
Expected Dividends     0 %

 
Schedule of option activity
 Options     Shares     Weighted
Average
Exercise
Price		     Aggregate
Intrinsic
Value		  
Outstanding at January 1, 2022     1,587,000     $ 4.15     $ 3,045,700  
Granted     61,000     $ 1.80      
-
  
Forfeited or Expired and Other Adj     (6,000 )   $ 4.15      
-
  
Outstanding at March 31, 2022     1,642,000     $ 4.06     $
-
  
Exercisable at March 31, 2022     75,256     $ 3.97     $
-
  
                         
Outstanding at January 1, 2023     1,558,000     $ 4.17          
Granted     15,000     $ 1.77       -  
Forfeited or Expired and Other Adj     (9,333 )   $ 3.68      
-
  
Outstanding at March 31, 2023     1,563,667     $ 4.09     $ -  
Exercisable at March 31, 2023     525,563     $ 4.11     $ -  

 
Schedule of restricted stock activity
Restricted Stock   Time-Based  
Outstanding at January 1, 2022     154,960  
Granted     125,000  
Vested     (56,263 )
Forfeited    
-
  
Outstanding at March 31, 2022     223,697  
         
Outstanding at January 1, 2023     64,166  
Granted    
-
  
Vested     (7,813 )
Forfeited     (1,333 )
Outstanding at March 31, 2023     55,020