STOCK OPTIONS

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

STOCK OPTIONS

NOTE 17 – STOCK OPTIONS

Our stockholders approved our 2014 Equity Incentive Plan in June 2014 (the “2014 Plan”), our 2015 Equity Incentive Plan in December 2015 (the “2015 Plan”), our 2016 Equity Incentive Plan in October 2016 (“2016 Plan”), our 2017 Equity Incentive Plan in December 2016 (“2017 Plan”), our 2018 Equity Incentive Plan in June 2018 (the “2018 Plan”), our 2021 Equity Incentive Plan in September 2021 (“2021 Plan”), our 2022 Equity Incentive Plan in November 2022, and our 2023 Equity Incentive Plan in October 2023 (“2023 Plan”, and together with the 2014 Plan, 2015 Plan, 2016 Plan, 2017 Plan, 2018 Plan, 2021 Plan, and 2022 Plan, the “Plans”). The Plans are identical, except for the number of shares reserved for issuance under each. As of December 31, 2023, the Company had granted an aggregate of 490,296 securities under the Plans since inception, with 891,371 shares available for future issuances.

The Plans provide for the grant of incentive stock options to our employees and our subsidiaries’ employees, and for the grant of stock options, stock bonus awards, restricted stock awards, performance stock awards and other forms of stock compensation to our employees, including officers, consultants and directors. The Plans also provide that the grant of performance stock awards may be paid out in cash as determined by the committee administering the Plans.

Option valuation models require the input of highly subjective assumptions. The fair value of stock-based payment awards was estimated using the Black-Scholes option pricing model with a volatility figure derived from historical data. The Company accounts for the expected life of options based on the contractual life of the options.

There were no options issued during the years ended December 31, 2023 and 2022.

A summary of the stock option activity for the years ended December 31, 2023 and 2022 is as follows:

	Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at December 31, 2021		92,166	$	148.11		5.49	$	-
Granted		-
Exercised		-
Forfeiture/Cancelled		-
Outstanding at December 31, 2022		92,166	$	148.11		4.49	$	-
Granted		-
Exercised		-
Forfeiture/Cancelled		-
Outstanding at December 31, 2023		92,166	$	148.11		3.49	$	-
Exercisable at December 31, 2023		92,166	$	148.11		3.49	$	-

Exercise Price		Number of Options		Remaining Life In Years		Number of Options Exercisable
$	23.00-75.00		44,368		4.26		44,368
	75.01-150.00		6,476		3.26		6,476
	150.01-225.00		6,079		2.68		6,079
	225.01-300.00		33,133		2.70		33,133
	300.01-600.00		2,110		2.60		2,110
			92,166				92,166

The aggregate intrinsic value of outstanding stock options was $0, based on options with an exercise price greater than the Company’s stock price of $0.57 as of December 31, 2023, which would have been received by the option holders had those option holders exercised their options as of that date.

The fair value of all options that were vested as of the year ended December 31, 2023 and 2022 was $0 and $0, respectively. Unrecognized compensation expense of $0 as of December 31, 2023 will be expensed in future periods