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Equity-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2023
Equity-Based Compensation [Abstract]  
Schedule of Management Contingent Share Plan The following table summarizes the Management Contingent Share Plan activity for the years ended December 31, 2023 and 2022:
   Management
Contingent
Share Plan
   Grant Date
Fair Value
 
Outstanding December 31, 2022   551,700   $78.10 
Granted   
-
   $
-
 
Forfeited   (419,132)  $78.10 
Outstanding December 31, 2023   132,568   $78.10 
Vested December 31, 2023   116,900   $78.10 
   Management
Contingent
Share Plan
   Grant Date
Fair Value
 
Outstanding December 31, 2021   
-
   $
-
 
Granted   920,000   $78.10 
Forfeited   (368,300)  $78.10 
Outstanding December 31, 2022   551,700   $78.10 
Vested December 31, 2022   116,900   $78.10 

Schedule of Stock Option Activity The following table summarizes stock option activity under the 2020 Plan for the years ended December 31, 2023 and 2022 (there was no stock option activity under the 2022 Plan for the years ended December 31, 2023 and 2022):
   Stock
Option
Awards
   Weighted-
Average
Exercise Price
   Average
Remaining
Life (Years)
   Aggregate
Intrinsic
Value
 
Outstanding December 31, 2022   276,510   $70.20           
Granted   -   $-           
Exercised   -   $-           
Forfeited   (157,139)  $(68.15)          
Outstanding December 31, 2023   119,371   $73.02    2.22   $* 
Exercisable December 31, 2023   115,616   $70.50    2.19   $        * 
   Stock
Option
Awards
   Weighted-
Average
Exercise Price
   Average
Remaining
Life (Years)
   Aggregate
Intrinsic
Value
 
Outstanding December 31, 2021   282,831   $65.10           
Granted   20,418   $157.50           
Exercised   (1,480)  $65.10           
Forfeited   (25,259)  $(83.60)          
Outstanding December 31, 2022   276,510   $70.20    2.77   $    * 
Exercisable at December 31, 2022   248,099   $67.00    2.67   $    * 
*The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price of the option. The market value of the Company’s common stock was $0.32 on December 31, 2023.

 

Schedule of Weighted-Average Valuation Assumptions Used for Stock Options The table below illustrates the weighted-average valuation assumptions used for stock options granted during the year ended December 31, 2022:
   2022 
Expected term (years)   3.2 
Expected volatility   70.0%
Risk-free interest rate   1.38%
Expected dividend yield   0.0%
Per-share weighted average grant date fair value  $157.50 
Schedule of Equity-Based Compensation Expense Equity-based compensation expense, excluding the Management Contingent Share Plan, was recorded in the following expense categories within the consolidated statements of operations consistent with the manner in which the respective employee or service provider’s related cash compensation was recorded:
   2023   2022 
Research and development1  $72   $110 
Selling, general and administrative   1,041    834 
Total equity-based compensation expense  $1,113   $944 
1)Had the Company recorded the Management Contingent Share Plan within research and development and selling, general and administrative expense, then research and development would have been (reduced) increased by $(55) and $201 for the years ended December 31, 2023 and 2022, respectively, with the remaining (reduction) increase recognized within selling, general and administrative expense for the years ended December 2023 and 2022.