Stock-based Compensation	6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation	10. Stock-based Compensation On March 8, 2022 the Company issued options to purchase 630,000 shares of the Company's common stock to two named executive officers. The right to exercise the options vest over a five-year period on a straight-line basis. The options have a strike price of $4.53 per share and will expire on March 8, 2032. The estimated grant date fair value of these options is $612,000, which is being expensed ratably over the vesting period. A Black Scholes model was used to determine the fair value of the options at the time the options were issued, using the Company’s historical 5-year market price of its stock to determine volatility (equating to 65.04%), an estimated 5-year term to exercise the options, a 5-year risk-free rate of return of 1.8%, and the market price for the Company’s stock of $2.40 per share. On June 30, 2020, the Company issued options to purchase 280,000 shares of the Company’s common stock, to certain executive officers and other employees. The right to exercise the options vest over a five-year period on a straight-line basis. The options have a strike price of $3.81 per share and expire on June 30, 2030. The estimated grant date fair value of these options is $290,000, which is being expensed ratably over the vesting period. In 2018, the Company issued 70,000 of restricted stock units (“RSUs”) to various employees to be settled in shares of common stock, which were valued at $404,000 on the date of the grant. The Company recorded $0 and $4,000 of compensation expense related to the RSUs for the three months ended June 30, 2024 and 2023, respectively. The Company recorded $0 and $17,000 of compensation expense related to the RSUs for the six months ended June 30, 2024 and 2023, respectively. There were no unvested RSUs remaining as of June 30, 2024. The Company recorded $38,000 and $44,000 of compensation expense for the three months ended June 30, 2024 and 2023, respectively, related to the Company's stock options granted. The Company recorded $70,000 and $86,000 of compensation expense for the six months ended June 30, 2024 and 2023, respectively, related to the Company's stock options granted. There were 424,000 options outstanding and unvested as of June 30, 2024, which will generate an estimated future expense of $374,000.

Stock-based Compensation

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

10. Stock-based Compensation

On March 8, 2022 the Company issued options to purchase 630,000 shares of the Company's common stock to two named executive officers. The right to exercise the options vest over a five-year period on a straight-line basis. The options have a strike price of $4.53 per share and will expire on March 8, 2032. The estimated grant date fair value of these options is $612,000, which is being expensed ratably over the vesting period. A Black Scholes model was used to determine the fair value of the options at the time the options were issued, using the Company’s historical 5-year market price of its stock to determine volatility (equating to 65.04%), an estimated 5-year term to exercise the options, a 5-year risk-free rate of return of 1.8%, and the market price for the Company’s stock of $2.40 per share.

On June 30, 2020, the Company issued options to purchase 280,000 shares of the Company’s common stock, to certain executive officers and other employees. The right to exercise the options vest over a five-year period on a straight-line basis. The options have a strike price of $3.81 per share and expire on June 30, 2030. The estimated grant date fair value of these options is $290,000, which is being expensed ratably over the vesting period.

In 2018, the Company issued 70,000 of restricted stock units (“RSUs”) to various employees to be settled in shares of common stock, which were valued at $404,000 on the date of the grant.

The Company recorded $0 and $4,000 of compensation expense related to the RSUs for the three months ended June 30, 2024 and 2023, respectively. The Company recorded $0 and $17,000 of compensation expense related to the RSUs for the six months ended June 30, 2024 and 2023, respectively. There were no unvested RSUs remaining as of June 30, 2024.

The Company recorded $38,000 and $44,000 of compensation expense for the three months ended June 30, 2024 and 2023, respectively, related to the Company's stock options granted. The Company recorded $70,000 and $86,000 of compensation expense for the six months ended June 30, 2024 and 2023, respectively, related to the Company's stock options granted. There were 424,000 options outstanding and unvested as of June 30, 2024, which will generate an estimated future expense of $374,000.