Quarterly report pursuant to Section 13 or 15(d)

Share-based Compensation (Tables)

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Share-based Compensation (Tables)
 6 Months Ended
Jun. 30, 2024
Share-based Compensation [Abstract]  
Schedule of Fair Value of Options Under the 2020 Plan The fair value of options granted under the 2020 Plan during the six months ended June 30, 2023 was estimated at the date of grant using the Black-Scholes option pricing model and the following assumptions for grants:
    2023  
Risk-free interest rates     3.43 %
Expected life     5 years  
Expected volatility     41.00 %
Expected dividend yield     0.00 %
Schedule of Stock Option Activity The following table summarizes the stock option activity for the six months ended June 30, 2024:

(in thousands except share and per share data)

    Number of
Options		     Weighted
Average
Exercise Price		     Weighted
Average
Remaining
Contractual Term		     Aggregate
Intrinsic
Value		  
Balance at January 1, 2024     1,213,957     $ 4.43       8.70     $
             —
  
Granted    
—
      
—
                  
Forfeited/Cancelled     (147,358 )     6.47                  
Exercised    
—
      
—
                  
Balance at June 30, 2024     1,066,599     $ 4.13       8.25     $
—
  
Exercisable at June 30, 2024     727,634     $ 4.69       8.06     $
—
  

 
Schedule of Non-vested Stock Options The following table summarizes the Company’s non-vested stock options:
    Non-vested
Options		     Weighted-
Average
Grant Date  		  
    Outstanding     Fair Value  
Balance at January 1, 2024     506,522     $              1.67  
Options granted    
—
      
—
  
Options forfeited/cancelled     (48,247 )     1.73  
Options exercised    
—
      
—
  
Options vested     (119,310 )     1.72  
Balance at June 30, 2024     338,965     $ 1.64  
Schedule of Restricted Stock Units Activity The following table summarizes the restricted stock units activity for the six months ended June 30, 2024:
    Restricted
Stock Units		     Weighted-
Average
Grant Date
Fair Value
Per Share		  
Outstanding at January 1, 2024    
—
     $
           —
  
Granted     2,367,000       1.90  
Forfeited/cancelled     (76,758 )     1.45  
Vested     (852,242 )     1.95  
Outstanding at June 30, 2024     1,438,000     $ 1.90