Share-Based Compensation

6 Months Ended

Jun. 30, 2023

Share-Based Compensation [Abstract]

SHARE-BASED COMPENSATION

NOTE 16 SHARE-BASED COMPENSATION

Restricted Stock Awards

A summary of the restricted stock unit (“RSA”) activity during the six months ended June 30, 2023 is presented below:

				Weighted-
				Average
	Number of			Grant Date Value
	RSA’s			Per Share
RSA’s non-vested - January 1, 2023		333		$	450
Granted		-			-
Forfeited		-			-
Vested		(333	)		450
RSA’s non-vested - June 30, 2023		-		$	-

During the three and six months ended June 30, 2023, the Company recognized $0 and $12,502 of share-based compensation expense associated with restricted stock awards, respectively. During the three and six months ended June 30, 2022, the Company recognized $78,496 and $156,996, respectively, of share-based compensation expense associated with restricted stock awards. Compensation expense related to restricted stock awards is recorded in general and administrative expense in the condensed consolidated statement of operations. As of June 30, 2023, there was no unrecognized stock-based compensation expense related to restricted stock awards.

Stock Options

There were no stock options issued during the six months ended June 30, 2023 and 2022.

The following table presents stock option activity for the six months ended June 30, 2023:

				Weighted		Weighted
				Average		Average		Aggregate
	Number of			Exercise Price		Contractual		Intrinsic
	Options			Per Share		Life in Years		Value
Outstanding - December 31, 2022		26,554		$	223
Exercised		-			-
Cancelled or Expired		(1,600	)		291
Outstanding - June 30, 2023		24,954		$	219		2.29	$	-
Exercisable - June 30, 2023		22,788		$	214		2.24	$	-

The following table presents information related to stock options as of June 30, 2023:

Options Outstanding			Options Exercisable
			Weighted
Exercise	Outstanding		Average		Exercisable
Price	Number of		Remaining Life		Number of
Per Share	Options		In Years		Options
$0.01 - $50.00		-		-		-
$50.01 - $100.00		5,688		2.02		5,688
$100.01 - $150.00		-		-		-
$150.01 - $200.00		2,900		0.50		2,900
$200.01 - $250.00		-		-		-
$250.01 - $300.00		16,033		2.70		13,867
$300.01 - $350.00		333		2.02		333
		24,954		2.24		22,788

The Company recognized $52,236 and $172,227 of share-based compensation expense related to options for the three and six months ended June 30, 2023, respectively, compared to $321,248 and $777,852 for the three and six months ended June 30, 2022, respectively. Compensation expense related to stock options is recorded in general and administrative expense in the condensed consolidated statement of operations. At June 30, 2023, the Company had $165,529 of unrecognized compensation expense related to options, which will be recognized over the weighted average remaining vesting period of 0.8 years.