SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2023

SUBSEQUENT EVENTS [Abstract]

SUBSEQUENT EVENTS

Note 17
SUBSEQUENT EVENTS

On July 21, 2023, a customer in which the Company held an equity interest (See Note 3, Summary of Significant Accounting Policies, Revenue Recognition) was acquired. As a result, the Company received approximately $5.9 million of cash proceeds in consideration of all of its equity interest in the customer. The Company may receive additional earnout payments in 2025 and 2026 in an aggregate amount of up to approximately $3.6 million if certain conditions are met.

On August 10, 2023, the Company’s Board of Directors approved the grant of nonqualified stock options to an employee to purchase an aggregate of 200,000 shares of common stock of the Company at an exercise price of $2.60 per share, which amount represents the closing price of the Company’s common stock on such date.