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STOCKHOLDERS' EQUITY
3 Months Ended
Mar. 31, 2024
Equity [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS’ EQUITY
Activity in equity during the three month periods ended March 31, 2024 and 2023 was as follows (dollars in thousands):
Common StockAdditional
Paid-In
Capital
Accumulated
Deficit
Total
SharesAmount
2024
Balances as of December 31, 20235,140,024 $$136,259 $(129,913)$6,351 
Stock-based compensation— — 85 — 85 
Issuance of common stock upon exercise of warrants4,608 — — 
Net loss— — — (1,832)(1,832)
Balances as of March 31, 20245,144,632 $$136,350 $(131,745)$4,610 
2023
Balances as of December 31, 202267,472 $— $127,482 $(122,203)$5,279 
Stock-based compensation— — 166 — 166 
Issuance of common stock upon exercise of warrants102,500 — — — — 
Issuance of shares pursuant to the vesting of restricted stock units, net of shares withheld for taxes1,102 — (11)— (11)
Issuance of common stock for service4,539 — 100 — 100 
Net loss— — — (2,037)(2,037)
Balances as of March 31, 2023175,613 $— $127,737 $(124,240)$3,497 
COMMON STOCK WARRANTS
The following table presents the common stock warrant activity:
SharesWeighted
Average
Exercise
Price Per
Share
Weighted
Average
Remaining
Contractual
Term
(years)
Outstanding as of December 31, 20237,775,734 $2.95 3.4
Exercised(4,608)1.30 — 
Outstanding as of March 31, 20247,771,126 2.95 3.1
During the three months ended March 31, 2024, warrants representing 4,608 shares of common stock were exercised with an exercise price of $1.30 per share.