COMMON STOCK AND STOCK OPTIONS (Tables)

12 Months Ended

Dec. 31, 2023

COMMON STOCK AND STOCK OPTIONS [Abstract]

Stock Option Activity

Transactions with respect to the Company’s stock option plans for the years ended December 31, 2023 and 2022 are as follows:

	Number of Shares			Weighted Average Exercise Price
Outstanding at January 1, 2022		568,650		$	2.02
Granted		110,000			2.03
Expired		(40,300	)		2.32
Forfeited		(10,750	)		2.36
Outstanding at December 31, 2022		627,600		$	2.00
Granted		118,950			2.86
Expired		-			0.00
Forfeited		(32,500	)		2.14
Outstanding at December 31, 2023		714,050		$	2.14

Stock-based Compensation Expense for Stock Options

The following table summarizes the stock-based compensation expense for stock options that was recorded in the Company’s results of operations for the years ended December 31:

	2023		2022
Data and product costs	$	38,110	$	27,765
Selling, general and administrative costs		64,988		52,668
	$	103,098	$	80,433

Fair Value Assumptions used in the Valuation of Stock Options

The fair value of options at date of grant was estimated using the Black-Scholes model with the following assumptions:

	2023			2022
Risk-free interest rate		3.80	%		1.91	%
Expected volatility factor		74.56	%		71.09	%
Expected dividends		0.00			0.00
Expected life of the option (years)		7.40			6.32

Stock Options Outstanding by Price Range

The following table summarizes information about the Company’s stock options outstanding at December 31, 2023:

	Options Outstanding						Options Exercisable
Range of Exercise Prices	Number Outstanding		Weighted Average Remaining Contractual Life (in years)		Weighted Average Exercise Price		Number Exercisable		Weighted Average Exercise Price
$ 1.00 - $ 2.00		308,250		5.95	$	1.59		68,720	$	1.57
$ 2.01 - $ 3.00		350,800		4.38	$	2.45		138,940	$	2.50
$ 3.01 - $ 6.00		55,000		8.68	$	3.16		4,000	$	4.00
		714,050		5.39	$	2.14		211,660	$	2.23

Non-vested Options

A summary of the status of the Company’s non-vested options and changes during the year ended December 31, 2023 is presented below:

	Number of Shares			Weighted Average Grant Date Fair Value
Non-vested, beginning of year		524,955		$	1.05
Granted		118,950			1.99
Vested		(114,215	)		1.06
Terminated or expired		(27,300	)		1.14
Non-vested, end of year		502,390		$	1.27