Restructuring and Related Activities

3 Months Ended

Mar. 31, 2024

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

10.     Employee Reduction

As indicated in Note 1., the Company has initiated a review of its strategic options to maximize shareholder value. These options include changes in marketing strategies, the acquisition of new assets, potential sale of Company assets, and a merger or other strategic transaction.

The Company incurred severance charges related to a reduction of 10 full time employees in the first quarter of 2024. The reduction was implemented in order to better align staffing with work responsibilities and to reduce operating expenses. Cash payments of approximately $207,000 for a majority of the employees will be made by the end of May 2024 and approximately $348,000 in cash payments related to two employees who have extended agreements will be ratably paid through December 2024.

The following table sets forth the activity during the quarter in accrued severance.

	Quarter ended March 31, 2024
Severance
Beginning balance	$	—
Additions	580,427
Amounts paid out	(25,427)
Ending balance	$	555,000

Within the Company's Statements of Operations for the quarter ended March 31, 2024, $580,427 in severance charges were recorded as follows: $310,200 within research and development, $234,527 within sales and marketing, $4,200 within general and administrative and $31,500 within cost of revenues.