Quarterly report pursuant to Section 13 or 15(d)

Share-based Compensation (Tables)

v3.23.3
Share-based Compensation (Tables)
9 Months Ended
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Fair Value of Options and Share Awards Granted Under the Plan

 

August 2023

 

 

January 2023

 

Risk-free interest rates

 

 

4.44

%

 

 

3.43

%

Expected life

 

5 years

 

 

5 years

 

Expected volatility

 

 

136.99

%

 

 

41.00

%

Expected dividend yield

 

 

0.00

%

 

 

0.00

%

Summary of Stock Option Activity

The following table summarizes the stock option activity:

 

 

 

 

 

 

 

 

Weighted Average

 

 

Aggregate

 

 

Number of

 

 

Weighted Average

 

 

Remaining

 

 

Intrinsic

 

 

Options

 

 

Exercise Price

 

 

Contractual Term

 

 

Value

 

Balance at January 1, 2023

 

 

931,934

 

 

$

5.88

 

 

 

8.91

 

 

$

203,295

 

Granted

 

 

717,250

 

 

 

2.56

 

 

 

 

 

 

 

Forfeited/Cancelled

 

 

(207,048

)

 

 

6.13

 

 

 

 

 

 

 

Exercised

 

 

(49,522

)

 

0.008

 

 

 

 

 

 

 

Balance at September 30, 2023

 

 

1,392,614

 

 

 

4.33

 

 

 

8.99

 

 

$

1,909

 

Exercisable at September 30, 2023

 

 

617,066

 

 

$

5.50

 

 

 

8.61

 

 

$

1,909

 

Summary of Non-vested Stock Options Activity

The following table summarizes the Company’s non-vested stock options:

 

 

 

 

 

Weighted-Average

 

 

Non-vested Options

 

 

Grant Date Fair

 

 

Outstanding

 

 

Value

 

At January 1, 2023

 

 

507,664

 

 

$

2.64

 

Options granted

 

 

717,250

 

 

 

1.50

 

Options forfeited/cancelled

 

 

(155,306

)

 

 

2.39

 

Options exercised

 

 

(9,554

)

 

 

5.42

 

Options vested

 

 

(284,506

)

 

 

1.85

 

At September 30, 2023

 

 

775,548

 

 

$

1.71

 

Summary of Restricted Stock Awards Activity

The following table summarizes the restricted stock awards activity:

 

 

 

 

 

 

Weighted-Average

 

 

 

 

 

 

Grant Date Fair

 

 

 

Outstanding

 

 

Value

 

Outstanding at January 1, 2023

 

 

55,735

 

 

$

5.92

 

Granted

 

 

 

 

 

 

Forfeited/cancelled

 

 

 

 

 

 

Vested

 

 

(54,517

)

 

 

5.85

 

Outstanding at September 30, 2023

 

 

1,218

 

 

$

8.53

 

Summary of Restricted Stock Units Activity

The following table summarizes the restricted stock units activity:

 

 

 

 

 

Weighted-Average

 

 

 

Non-vested Options

 

 

Grant Date Fair

 

 

 

Outstanding

 

 

Value

 

Outstanding at January 1, 2023

 

 

72,957

 

 

$

4.44

 

Granted

 

 

580,227

 

 

 

1.58

 

Forfeited/cancelled

 

 

(127,605

)

 

 

3.25

 

Vested

 

 

(525,579

)

 

 

1.57

 

Outstanding at September 30, 2023

 

 

 

 

$