STOCKBASED COMPENSATION |
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STOCK-BASED COMPENSATION | NOTE 8 – STOCK-BASED COMPENSATION
The Company’s 2022 Stock Incentive Plan authorized the issuance of incentives relating to 900,000 shares of common stock. As of June 30, 2023, incentives relating to the issuance of 870,000 shares have been issued under the Plan, leaving 30,000 shares available for issuance.
The following table summarizes the activity for all stock options outstanding for the six months ended June 30, 2023:
The following table summarizes additional information about stock options outstanding and exercisable at June 30, 2023:
The Company recognized stock-based compensation expense for stock options of $1,460,209 for the six months ended June 30, 2023.
The Black-Scholes option-pricing model was used to estimate the fair value of equity-based awards with the following weighted-average assumptions for the six months ended June 30, 2023:
The inputs for the Black-Scholes valuation model require management’s significant assumptions. The price per share of common stock is determined by using the closing market price on the Nasdaq Capital Market on the grant date. The risk-free interest rates are based on the rate for U.S. Treasury securities at the date of grant with maturity dates approximately equal to the expected life at the grant date. The expected life is based on the simplified method in accordance with the SEC Staff Accounting Bulletin Nos. 107 and 110. The expected volatility is estimated based on historical volatility information of peer companies that are publicly available in combination with the Company’s calculated volatility. |