Related Party Transactions

12 Months Ended

Dec. 31, 2023

Related Party Transactions [Abstract]

Related Party Transactions

Note 8. Related Party Transactions

During the years ended December 31, 2023 and 2022, the Company redeemed 15,000 and 27,500 previously awarded options reaching expiration from related parties, including the Company’s Executive Chairman, Bob Ferris and former COO, Matt Burlend. These redemptions canceled the stock options and resulted in a total of $29,251 and $74,368 in additional compensation expense in 2023 and 2022, respectively.

During the years ended December 31, 2023 and 2022, related parties exercised 15,000 and 17,500 previously awarded options for the exercise price of $54,900 and $40,855, respectively, resulting in issuance of common stock to the Executive Chairman and one member of the Board of Directors.