Annual report pursuant to Section 13 and 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.24.1
STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2023
Equity [Abstract]  
Schedule of restricted stock unit activity
     
Outstanding January 1, 2023     336  
Granted      
Vested (1)     (204 )
Canceled     (132 )
Outstanding December 31, 2023      

 

  (1) 112 RSUs were subject to cancellation due to termination of employment. However, the Company entered into a modification to allow the employee to fully vest in these RSUs as part of a severance agreement. The Company recorded additional expense of $31,487 during the year ended December 31, 2023 related to this modification.
Schedule of stock options activity
                       
    Common Stock Options  
    Shares     Weighted
Average
Exercise
Price
    Weighted
average
Remaining
Life in years
    Intrinsic Value  
Outstanding at January 1, 2023     14,694     $ 694.31                  
Granted     11,256     $ 169.08                  
Forfeited     (6,772 )   $ 635.63                  
Exercised     (112 )   $ 225.00                  
Outstanding at December 31, 2023     19,066     $ 407.97       8.72     $  
Exercisable at December 31, 2023     8,263     $ 594.62       8.13     $  
Schedule of assumptions
Schedule of assumptions   2023     2022
Volatility (based on peer companies)     79% - 83%       71% - 105%
Risk free interest rate     3.54% - 4.77%       0.77% - 0.85%
Dividends     None       None
Estimated life in years     6       6
Schedule of stock-based compensation expense
           
    2023     2022  
Cost of Goods Sold   $ 211,981     $ 578,552  
Sales and Marketing     693,559       764,517  
Product Development     837,271       704,152  
General and Administrative     885,114       1,211,788  
Total   $ 2,627,925     $ 3,259,009