STOCKHOLDERS’ EQUITY

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

STOCKHOLDERS’ EQUITY

10. STOCKHOLDERS’ EQUITY

Stock Issued For Acquisition

The Company issued 1,055,000 shares of its common stock upon acquiring certain assets of All Cell during the six months ended June 30, 2022. See further discussion in note 3. Business Combination.

Awards Under Stock Incentive Plans

Stock Options

Option activity for the six months ended June 30, 2022 is as follows:

			Weighted
			Average
	Number of		Exercise
	Options		Price
Outstanding at December 31, 2021		263,433	$	11.56
Granted		21,000		16.72
Exercised		–		–
Forfeited		–		–
Outstanding at June 30, 2022		284,433	$	11.94

The Company’s stock option compensation expense was $0.1 million and $0.2 million for the three and six months ended June 30, 2022, respectively, and $0.1 million for each of the three and six months ended June, 30, 2021. There was $1.1 million of total unrecognized compensation costs related to outstanding stock options at June 30, 2022 which will be recognized over 4.0 years. Number of stock options vested and unvested as of June 30, 2022 were 191,778 and 92,655, respectively.

Restricted Stock

A summary of activity of the restricted stock awards for the six months ended June 30, 2022 is as follows:

				Weighted-
	Nonvested			Average Grant-
	Shares			Date Fair Value
Nonvested at December 31, 2021		13,669		$	20.45
Granted		7,436			20.17
Vested		(10,382	)		20.53
Nonvested at June 30, 2022		10,723		$	20.19

As of June 30, 2022, there were unreleased shares of common stock representing $0.2 million of unrecognized restricted stock grant expense which will be recognized over approximately 2.5 years.

Warrants

A summary of the number of shares of common stock underlying warrants outstanding for the three months ended June 30, 2022 is as follows:

	Number of Common Stock			Weighted Average Exercise Price
Outstanding at December 31, 2021		519,658		$	6.30
Exercised		(50,037	)		6.30
Outstanding at June 30, 2022		469,621		$	6.30