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Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Fair Value Valuation Model

 

Expected dividend yield at date of grant   0.00%
Risk-free interest rate   3.82%
Expected stock price volatility   68.7%
Expected life of options (in years)   5.0 
Summary of Stock Option

The following table summarizes stock option activity for the year ended December 31, 2023:

 

   Number of Options   Weighted Average Exercise Price Per Share   Weighted Average Remaining Contractual Term (Years)   Aggregate Intrinsic Value (in thousands) 
Outstanding at December 31, 2022   -   $-    -   $- 
Granted   156,000    3.11           
Exercised   -                
Forfeited   -                
Expired   -                
Outstanding at December 31, 2023   156,000   $3.11    9.4   $- 
Exercisable at December 31, 2023   -   $-    -   $- 
Summary of Restricted Stock Units Activity

 

   Number of Restricted Stock Units   Weighted Average Grant Date Fair Value 
Non-vested at December 31, 2022    -   $- 
Restricted stock units granted    369,000    3.77 
Restricted stock units vested    (195,000)   3.99 
Restricted stock units forfeited    -      
Non-vested at December 31, 2023    174,000   $3.52