Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.24.3
STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
Schedule of stock option activity
                       
    Common Stock Options  
    Shares     Weighted
Average
Exercise
Price
    Weighted
Average
Remaining
Life in years
    Intrinsic Value  
Outstanding at January 1, 2024     61     $ 354,819.26                  
Granted*     6,251     $ 13.00                  
Forfeited     (11 )   $ 163,500                  
Canceled     (12 )   $ 712,350                  
Outstanding at September 30, 2024     6,289     $ 1,812.00       9.88     $ 0  
Exercisable at September 30, 2024     38     $ 303,087.00       8.11     $ 0  

 

* Includes 50,000 inducement options granted outside of the 2021 Plan.
Schedule of assumptions
           
    2024     2023  
Volatility (based on the Company’s volatility in 2024 and peer companies in 2023)     152% - 170%       79% - 83%  
Risk free interest rate     4.0% - 4.5%       3.54% - 4.77%  
Dividends     None       None  
Estimated life in years     6       6  
Schedule of stock-based compensation
                       
   

Three Months
Ended

September 30,

2024

   

Three Months
Ended

September 30,

2023

   

Nine Months
Ended

September 30,

2024

   

Nine Months
Ended

September 30,

2023

 
Cost of Goods Sold   $     $ 131,525     $ (11,827 )   $ 487,605  
Sales and Marketing     10,053       134,073       21,984       678,945  
Product Development           80,759       126,337       389,729  
General and Administrative           194,171       159,388       667,077  
Total   $ 10,053     $ 540,528     $ 295,882     $ 2,223,356