Stockholders Equity

6 Months Ended

Jun. 30, 2025

Stockholders Equity

Stockholders' Equity

11. Stockholders’ Equity

Common Stock

The Company is authorized to issue 30,000,000 shares of common stock, $0.001 par value per share. As of June 30, 2025, there were 9,655,173 shares issued and outstanding.

During the three month period ended June 30, 2025, there were 94,920 shares of restricted common stock vested in accordance with the vesting terms of the restricted stock awards (RSAs). Certain employees received less than the shares vested because they elected to have a total of 3,681 shares withheld in satisfaction of the employees corresponding tax liability of approximately $15,407. The Company’s payment of this tax liability was recorded as a cash flow from financing activity on the condensed consolidated statement of cash flows.

During the six month period ended June 30, 2025, there were 197,933 shares of restricted common stock vested in accordance with the vesting terms of the RSAs. Certain employees received less than the shares vested because they elected to have a total of 28,268 shares withheld in satisfaction of the employees corresponding tax liability of approximately $130,618. The Company’s payment of this tax liability was recorded as a cash flow from financing activity on the condensed consolidated statement of cash flows.

During the three month period ended June 30, 2024, there were 189,155 shares of restricted common stock vested in accordance with the vesting terms of the RSAs. Certain employees received less than the shares vested because they elected to have a total of 15,408 shares withheld in satisfaction of the employees corresponding tax liability of approximately $39,800. The Company’s payment of this tax liability was recorded as a cash flow from financing activity on the condensed consolidated statement of cash flows.

During the six month period ended June 30, 2024, there were 692,468 shares of restricted common stock vested in accordance with the vesting terms of the RSAs. Certain employees received less than the shares vested because they elected to have a total of 100,180 shares withheld in satisfaction of the employees corresponding tax liability of approximately $258,400. The Company’s payment of this tax liability was recorded as a cash flow from financing activity on the condensed consolidated statement of cash flows.

There were no stock option exercises during the three and six month periods ended June 30, 2025 and 2024.