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Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Total Stock-based Compensation Expense

The total stock-based compensation expense related to stock options and stock awards issued to the Company’s employees and directors, included in reported net loss for the year ended December 31, 2023 and 2022, was comprised as follows (in thousands):

Description

 

Years Ended

 

 

 

December 31, 2023

 

 

December 31, 2022

 

 

General and administrative

 

$

440

 

 

$

605

 

 

Total stock-based compensation

 

$

440

 

 

$

605

 

 

Summary of Stock Options Outstanding

The stock options outstanding as of December 31, 2023, have been classified by exercise price, as follows:

Outstanding

 

 

Exercisable

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Average

 

 

Weighted

 

 

 

 

 

Weighted

 

 

Average

 

 

 

 

 

 

Remaining

 

 

Average

 

 

 

 

 

Average

 

 

Remaining

 

Exercise

 

Number

 

 

Contractual

 

 

Exercise

 

 

Number

 

 

Exercise

 

 

Contractual

 

Price

 

Outstanding

 

 

Life (Years)

 

 

Price

 

 

Exercisable

 

 

Price

 

 

Life (Years)

 

$2.50 - $3.00

 

 

483,093

 

 

 

4.65

 

 

$

2.97

 

 

 

462,270

 

 

$

2.97

 

 

 

4.53

 

$3.01 - $4.00

 

 

86,550

 

 

 

6.96

 

 

$

3.54

 

 

 

84,607

 

 

$

3.54

 

 

 

6.96

 

$4.01 - $5.00

 

 

133,618

 

 

 

4.93

 

 

$

4.70

 

 

 

131,618

 

 

$

4.71

 

 

 

4.90

 

$5.01 - $5.50

 

 

20,378

 

 

 

5.34

 

 

$

5.24

 

 

 

20,378

 

 

$

5.24

 

 

 

5.34

 

$12 - $18

 

 

2,332

 

 

 

2.61

 

 

$

14.35

 

 

 

2,332

 

 

$

14.35

 

 

 

2.61

 

$25 - $40

 

 

1,095

 

 

 

0.72

 

 

$

33.90

 

 

 

1,095

 

 

$

33.90

 

 

 

0.72

 

$2.50 - $40

 

 

727,066

 

 

 

4.98

 

 

$

3.50

 

 

 

702,300

 

 

$

3.52

 

 

 

4.90

 

Summary of Stock Option Activities and Related Information

The following table summarize our stock option activities and related information:

Description

 

Shares

 

 

Weighted
Average Price
per share

 

 

Weighted Average
Remaining
Contractual
Term (Years)

 

 

Aggregate
Intrinsic
Value

 

Outstanding at December 31, 2021

 

 

499,751

 

 

$

2.97

 

 

 

8.40

 

 

$

 

Acquired under Business Combination

 

 

301,380

 

 

 

4.61

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited and expired

 

 

(4,173

)

 

 

4.95

 

 

 

 

 

 

 

Outstanding at December 31, 2022

 

 

796,958

 

 

$

3.58

 

 

 

7.71

 

 

 

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited and expired

 

 

(69,892

)

 

 

4.39

 

 

 

 

 

 

 

Outstanding at December 31, 2023

 

 

727,066

 

 

$

3.50

 

 

 

4.98

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at December 31, 2023

 

 

702,300

 

 

$

3.52

 

 

 

4.90

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Expected to vest in the future

 

 

24,766

 

 

$

3.11

 

 

 

7.37

 

 

 

 

Summary of Stock Award Activities and Related Information

The following table summarize our stock award activities and related information:

Restricted Stock Awards

 

Shares Outstanding

 

 

Vested

 

 

Weighted Average
Grant Date Fair
Value

 

 

Weighted-Average Remaining Vesting Term (years)

 

Outstanding at December 31, 2021

 

 

249,875

 

 

 

124,937

 

 

$

2.97

 

 

 

2.42

 

Granted

 

 

 

 

 

-

 

 

 

 

 

 

 

Vested

 

 

 

 

 

41,646

 

 

 

2.97

 

 

 

 

Awards cancelled

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2022

 

 

249,875

 

 

 

166,583

 

 

$

2.97

 

 

 

1.42

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

Vested

 

 

 

 

 

41,646

 

 

 

2.97

 

 

 

 

Vested awards cancelled

 

 

83,291

 

 

 

(83,291

)

 

 

2.97

 

 

 

 

Awards cancelled

 

 

16,659

 

 

 

 

 

 

2.97

 

 

 

 

Outstanding at December 31, 2023

 

 

149,925

 

 

 

124,937

 

 

$

2.97

 

 

 

0.42