Note 13 - Subsequent Events	12 Months Ended
Dec. 31, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	13. Subsequent Events *2024* *Rights Offering Warrants* Half of the warrants issued in the Company’s 2024 Rights Offering were redeemable for $0.01 per underlying share of common stock, on not less than thirty days’ written notice, if the VWAP of the Company’s common stock equaled or exceeded 150% of the exercise price for the warrants, or $16.50, for twenty consecutive trading days. In December 2024, the Company delivered an irrevocable notice of redemption to redeem the 2024 Rights Offering Warrants which were subject to this 150% redemption feature, because the VWAP of the Company’s common stock over the twenty consecutive trading days before the notice was $18.85. Pursuant to the 150% redemption feature, the Company redeemed 18,221 warrants on the redemption date, February 5, 2025, and at the date of this filing, there are no 2024 Rights Offering Warrants subject to the 150% redemption feature outstanding. Subsequent to December 31, 2024, but prior to the redemption date of February 5, 2025, the Company received approximately $2.6 million in gross proceeds from exercises of the 150% redemption feature 2024 Rights Offering Warrants. The other half of the warrants issued in the 2024 Rights Offering remain redeemable by the Company for $0.01 per underlying share of common stock, on not less than thirty days’ written notice, if the VWAP of the Company’s common stock equals or exceeds 200% of the exercise price for the warrants, or $22.00, for twenty consecutive trading days. Although the 200% redemption feature of the 2024 Rights Offering Warrants has not yet been triggered, since December 31, 2024, the Company has received approximately $11.4 million in gross proceeds from exercises of warrants subject to the 200% redemption feature. If exercised, an additional $2.3 million of gross proceeds may be received if the remaining outstanding 2024 Rights Offering Warrants subject to the 200% redemption feature are exercised. As of January 2, 2025, Robert W. Duggan, the Company’s majority stockholder and Co-Chairman, has exercised all of his outstanding 2024 Rights Offering Warrants. He has zero 150% redemption feature and zero 200% redemption feature warrants outstanding as of the date of this filing. *Executive Appointments* In January 2025, the Company appointed Paul A. LaViolette, the Company's Co-Chairman, as Chief Executive Officer and President of the Company. In connection with his appointment, the Company awarded Mr. LaViolette stock options to purchase up to 1,500,000 shares of the Company’s common stock, with an exercise price of $18.43 per share, the closing price of the Company’s common stock on January 8, 2025, the last trading day preceding Mr. LaViolette’s employment start date and date of grant. Subject to certain accelerated vesting provisions, 450,000 option shares will vest over four years, subject to a time-based vesting schedule, and 1,050,000 option shares will vest subject to both market and performance conditions related to achievement of certain market capitalization and revenue and gross margin targets. The options will vest and become exercisable once the specific targets are fulfilled. In February 2025, the Company appointed Jon Skinner as Chief Financial Officer of the Company. In connection with his appointment, the Company awarded Mr. Skinner stock options to purchase up to 300,000 shares of the Company’s common stock, with an exercise price of $20.93 per share, the closing price of the Company’s common stock on January 31, 2025, the last trading day preceding Mr. Skinner’s employment start date and date of grant. Subject to certain accelerated vesting provisions, 150,000 option shares will vest over four years, subject to a time-based vesting schedule, and 150,000 option shares will vest subject to both market and performance conditions related to achievement of certain market capitalization and revenue targets. The options will vest and become exercisable once the specific targets are fulfilled.

Note 13 - Subsequent Events

12 Months Ended

Dec. 31, 2024

13. Subsequent Events

2024 Rights Offering Warrants

Half of the warrants issued in the Company’s 2024 Rights Offering were redeemable for $0.01 per underlying share of common stock, on not less than thirty days’ written notice, if the VWAP of the Company’s common stock equaled or exceeded 150% of the exercise price for the warrants, or $16.50, for twenty consecutive trading days. In December 2024, the Company delivered an irrevocable notice of redemption to redeem the 2024 Rights Offering Warrants which were subject to this 150% redemption feature, because the VWAP of the Company’s common stock over the twenty consecutive trading days before the notice was $18.85. Pursuant to the 150% redemption feature, the Company redeemed 18,221 warrants on the redemption date, February 5, 2025, and at the date of this filing, there are no 2024 Rights Offering Warrants subject to the 150% redemption feature outstanding. Subsequent to December 31, 2024, but prior to the redemption date of February 5, 2025, the Company received approximately $2.6 million in gross proceeds from exercises of the 150% redemption feature 2024 Rights Offering Warrants.

The other half of the warrants issued in the 2024 Rights Offering remain redeemable by the Company for $0.01 per underlying share of common stock, on not less than thirty days’ written notice, if the VWAP of the Company’s common stock equals or exceeds 200% of the exercise price for the warrants, or $22.00, for twenty consecutive trading days. Although the 200% redemption feature of the 2024 Rights Offering Warrants has not yet been triggered, since December 31, 2024, the Company has received approximately $11.4 million in gross proceeds from exercises of warrants subject to the 200% redemption feature. If exercised, an additional $2.3 million of gross proceeds may be received if the remaining outstanding 2024 Rights Offering Warrants subject to the 200% redemption feature are exercised.

As of January 2, 2025, Robert W. Duggan, the Company’s majority stockholder and Co-Chairman, has exercised all of his outstanding 2024 Rights Offering Warrants. He has zero 150% redemption feature and zero 200% redemption feature warrants outstanding as of the date of this filing.

Executive Appointments

In January 2025, the Company appointed Paul A. LaViolette, the Company's Co-Chairman, as Chief Executive Officer and President of the Company. In connection with his appointment, the Company awarded Mr. LaViolette stock options to purchase up to 1,500,000 shares of the Company’s common stock, with an exercise price of $18.43 per share, the closing price of the Company’s common stock on January 8, 2025, the last trading day preceding Mr. LaViolette’s employment start date and date of grant. Subject to certain accelerated vesting provisions, 450,000 option shares will vest over four years, subject to a time-based vesting schedule, and 1,050,000 option shares will vest subject to both market and performance conditions related to achievement of certain market capitalization and revenue and gross margin targets. The options will vest and become exercisable once the specific targets are fulfilled.

In February 2025, the Company appointed Jon Skinner as Chief Financial Officer of the Company. In connection with his appointment, the Company awarded Mr. Skinner stock options to purchase up to 300,000 shares of the Company’s common stock, with an exercise price of $20.93 per share, the closing price of the Company’s common stock on January 31, 2025, the last trading day preceding Mr. Skinner’s employment start date and date of grant. Subject to certain accelerated vesting provisions, 150,000 option shares will vest over four years, subject to a time-based vesting schedule, and 150,000 option shares will vest subject to both market and performance conditions related to achievement of certain market capitalization and revenue targets. The options will vest and become exercisable once the specific targets are fulfilled.