Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.23.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of stock-based compensation expense
    2022     2021  
Stock Options   $ 164,576       153,205  
Restricted Stock     316,727       14,852  
      481,303       168,057  

 
Schedule of Black-Scholes option pricing model
Risk-Free Interest Rate     1.34 %
Expected Term     5.5-6.25 years  
Expected Volatility     50.12 %
Expected Dividends     0 %

 
Schedule of option activity

 

Options

  

 

 

Shares

    

Weighted

Average

Exercise

Price

    

 

Aggregate

Intrinsic

Value

  
Outstanding at January 1, 2021    
-
      
-
      
-
  
Granted     1,587,000     $ 4.15      
-
  
Forfeited or Expired and Other Adj    
-
      
-
      
-
  
Outstanding at December 31, 2021     1,587,000     $ 4.15     $ 3,015,300  
Exercisable at December 31, 2021     30,658     $ 4.15     $ 58,250  
                         
Granted     68,000     $ 1.80      
-
  
Forfeited or Expired and Other Adj     (97,000 )   $ 4.11      
-
  
Outstanding at December 31, 2022     1,558,000     $ 4.17     $
-
  
Exercisable at December 31, 2022     453,918     $ 4.16     $
-
  

 
Schedule of restricted stock activity

Restricted Stock

 

Time-Based

  
Outstanding at January 1, 2021  
-
  
Granted     160,318  
Vested     (5,358 )
Forfeited    
-
  
Outstanding at December, 2021     154,960  
         
Granted     145,660  
Vested     (227,737 )
Forfeited     (8,717 )
Outstanding at December 31, 2022     64,166