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STOCK-BASED COMPENSATION (Tables)
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Share-Based Payment Arrangement, Restricted Stock Unit, Activity
The following table shows a summary of the unvested restricted stock under the 2023 Long-Term Equity Compensation Incentive Plan as of June 30, 2024 as well as activity during the year:
Number of shares
Weighted Average Grant Date Fair Value
Restricted stock units, unvested, December 31, 20232,429,500 $6.16 
Granted108,000 $12.37 
Vested— $— 
Forfeited(1,500)$6.16 
Restricted stock units, unvested, June 30, 20242,536,000 $6.42 
Restricted Stock activity relative to the CEO as of June 30, 2024 is summarized as follows:
Number of Shares Weighted Average Grant Date Fair Value
Outstanding at December 31, 20234,569,922 $10.03 
Granted— $— 
Vested— $— 
Forfeited — $— 
Outstanding at June 30, 20244,569,922 $10.03 
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions
Black-Scholes option-pricing model assumptions and the resulting fair value of options are presented in the following table:

Stock Options on Grant Date
Dividend yield— %
Expected volatility23.00 %
Risk-free interest rate3.98 %
Expected option life5.81 years
Weighted average fair value of stock options$3.91 
Share-Based Payment Arrangement, Option, Activity
The following table shows the status of, and changes in, common stock options:
Number of Options Weighted Average Exercise Price
Options outstanding, December 31, 2023— $— 
Granted345,263 $3.91 
Exercised— $— 
Expired or cancelled— $— 
Options exercisable, June 30, 2024345,263 $3.91 
Share-Based Payment Arrangement, Expense
CEO Stock-based compensation expense is recorded in general and administrative expense (including stock-based compensation) in the consolidated statements of operations and comprehensive (loss) income is summarized as follows:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Stock-based compensation expense
$4,583,632 $— $9,167,264 $—