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STOCKHOLDERS’ EQUITY
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS’ EQUITY
Series A Convertible Preferred Stock
In January 1997, the Board of Directors authorized the creation of 30,000 class of Series A Convertible Preferred Stock with a par value of $0.01. The Series A Convertible Preferred Stock is convertible into an equal number of common shares at the holder’s option, subject to adjustment for anti-dilution. The holders of Series A Convertible Preferred Stock are entitled to receive dividends as and if declared by the Board of Directors. In the event of liquidation or dissolution of the Company, the holders of Series A Convertible Preferred Stock are entitled to receive all accrued dividends, if applicable, plus the liquidation price of $1.00 per share. As of December 31, 2025, and 2024, there were no outstanding shares of Series A Convertible Preferred Stock.
Stock-based Compensation
To retain and attract qualified personnel necessary for the success of the Company, the Company adopted the 2025 Omnibus Incentive Plan (the “Plan”) covering up to 2,000,000 of the Company’s common shares, pursuant to which officers, directors, key employees and consultants to the Company are eligible to receive incentive stock options, nonqualified stock options and restricted stock units. All the equity compensation plans prior to the Company’s 2025 Omnibus Incentive Plan have been closed. The Compensation Committee of the Board of Directors administers this Plan and determines the terms and conditions of stock options granted, including the exercise price. The Plan generally provides that all stock options will expire within ten years of the date of grant. Incentive stock options granted under this Plan must be granted at an exercise price that is not less than the fair market value per share at the date of the grant and the exercise price must not be less than 110% of the fair market value per share at the date of the grant for grants to persons owning more than 10% of the voting stock of the Company. The Plan also entitles non-employee directors to receive grants of non-qualified stock options as approved by the Board of Directors.
The Company uses the Black-Scholes option pricing model to value the options on the grant date. The table below presents the weighted average expected life of the stock options in years. The Company uses the simplified method for all stock options to estimate the expected life of the option and assumes that stock options will be exercised evenly over the period from vesting until the awards expire. Volatility is determined using changes in historical stock prices. The interest rate for periods within the expected life of the award is based on U.S. Treasury yield curve in effect on the grant date. Options, generally, vest from one year to four years. The compensation expense is recognized over the requisite service period on a straight-line basis, reduced by forfeitures as they occur.
Certain option awards are classified as liability awards. The fair values of these awards are determined at each reporting date utilizing a Black-Scholes option pricing model, and the associated compensation expense (credit) is recorded at each reporting period is recorded. The Company recorded $0 and $(4) of credits to stock-based compensation expense in the years ended December 31, 2025 and 2024, respectively, as a result of the change in fair value of these awards.
The fair value of the Company’s stock options granted in 2025 that are being classified as equity awards were estimated using the Black-Scholes option pricing model with the following assumptions and weighted average fair values:
Year Ended
December 31, 2025
Valuation assumptions:
Grant price
$2.41 – $2.60
Exercise price
$2.41 – $2.60
Expected dividend yield0 %
Expected volatility
61.10% – 79.30%
Expected life (in years)
4.28 – 4.38
Risk-free interest rate
3.77% – 3.94%

Stock option activity during the periods indicated below was as follows:
Number of
Shares
Subject to
Issuance
Weighted- average Exercise PriceWeighted- average Remaining
Contractual Term		Aggregate Intrinsic Value
Outstanding at December 31, 20231,152,714$3.07 3.18 years$38 
Granted652,9792.00  
Forfeited(472,713)2.42 
Exercised(179,875)1.72 
Outstanding at December 31, 20241,153,105$2.94 3.88 years$536 
Granted596,6512.58 
Forfeited(213,162)2.33 
Exercised(360,173)2.49 
Outstanding at December 31, 20251,176,421$3.00 4.44 years$4,663 
Exercisable at December 31, 2025590,794$3.51 2.55 years$2,208 
The aggregate intrinsic value in the table above represents the total pretax intrinsic value (the difference between the Company’s closing stock price on the last trading day of the period and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had they all exercised their options on December 31, 2025. This amount changes based upon the fair market value of the Company’s stock.
The following is a summary of stock options as of December 31, 2025:
Options OutstandingOptions Exercisable
Range of Exercise PricesNumber of
Options		Weighted-
average
Remaining Life		Weighted-
average
Exercise
Price		Number of
Options		Weighted-
average
Exercise
Price
$1.81 to $2.52
434,4033.68 years$2.08 306,566$2.06 
$2.53 to $11.50
742,0183.81 years$3.55 284,228$5.08 
1,176,4213.75 years$3.00 590,794$3.51 
The weighted-average fair value of the options granted during the year ended December 31, 2025 was $2.58. All stock options were issued with an exercise price that is equal or above the fair market value of the Company’s common stock on the date of grant. The amount of unrecognized expense of the options for the year ended December 31, 2025 was $871.
Restricted Stock Units
The Company periodically issues Restricted Stock Units (“RSUs”) which are equity-based instruments that may be settled in shares of common stock of the Company. The Company issues RSUs to certain directors as compensation which vest with the passage of time. The vesting of all RSUs is contingent on continued board and employment services.
The compensation expense incurred by the Company for RSUs is based on the closing market price of the Company’s common stock on the date of grant, is amortized on a straight-line basis over the requisite service period and charged to operating expenses with a corresponding increase to additional paid-in capital, reduced by forfeitures when they occur.
The amount of unrecognized expense of the RSUs for the year ended December 31, 2025 was $0.
Restricted stock unit activity during the periods indicated below is as follows:
Number of
Shares 		Weighted
Average
Grant Date
Fair Value
Outstanding at December 31, 202360,500$4.23 
Granted223,4854.23 
Vested and settled in shares(246,028)2.80 
Outstanding at December 31, 202437,957$2.51 
Granted58,8764.54 
Vested and settled in shares(83,096)3.31 
Outstanding December 31, 202513,737$6.37 
As of December 31, 2025, there was $871 of total unrecognized compensation costs, related to all unvested stock options and RSUs. These costs are expected to be recognized as compensation expense over a weighted average period of approximately 2.01 years.
Stock-based compensation expense for the years ended December 31, 2025 and 2024 is as follows:
Years Ended December 31,
20252024
Stock options$509 $467 
Restricted stock units268 409 
$777 $876 
Stock-based compensation is included in operating expenses as follows:
Years Ended December 31,
20252024
Selling, general and administrative$668 $821 
Research and development109 55 
$777 $876 
As of December 31, 2025, the Company had 2,063,544 shares available for future grants under the Company’s equity compensation plans.