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Stock Option Plans (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Stock Option Activity Under Stock Option Plan

Stock option activity under the Company's stock options plans for the years ending December 31, 2024 and 2023 were as follows:

(in thousands, except share and per share data)

 

Number of Shares

 

 

Weighted- Average Exercise Price

 

 

Weighted- Average Contractual Term (Years)

 

 

Aggregate Intrinsic Value

 

Outstanding, December 31, 2022

 

 

69,391

 

 

$

276.00

 

 

8.69

 

 

$

3

 

Granted

 

 

25,912

 

 

 

73.50

 

 

 

 

 

 

 

Exercised

 

 

-

 

 

 

-

 

 

 

 

 

 

 

Cancelled

 

 

(48,714

)

 

 

177.00

 

 

 

 

 

 

 

Outstanding, December 31, 2023

 

 

46,589

 

 

$

268.50

 

 

7.64

 

 

$

 

Granted

 

 

13,289

 

 

 

10.84

 

 

 

 

 

 

 

Exercised

 

 

-

 

 

 

-

 

 

 

 

 

 

 

Cancelled

 

 

(26,641

)

 

 

283.09

 

 

 

 

 

 

 

Outstanding, December 31, 2024

 

 

33,237

 

 

$

153.79

 

 

 

7.15

 

 

$

 

Options exercisable, December 31, 2024

 

 

23,903

 

 

$

224.53

 

 

 

7.41

 

 

$

 

Options available for future grant, December 31, 2024

 

 

142,745

 

 

 

 

 

 

 

 

 

 

 

Assumptions for Volatility, Expected Life, Dividend Yield and Risk-Free Interest Rate

The assumptions for volatility, expected life, dividend yield and risk-free interest rate are presented in the table below:

 

 

For the Year Ended December 31,

 

2024

 

2023

Risk-free interest rate

 

3.70 – 4.09%

 

3.51 – 4.01%

Expected life in years

 

5.04-6.06

 

5.06 6.25

Expected volatility

 

112.17 -170.50%

 

89.69 – 112.12%

Expected dividend yield

 

%

 

%