Stockholders Equity

9 Months Ended

Sep. 30, 2023

Stockholders Equity

Stockholders' Equity

7. Stockholders’ Equity

Effective on April 21, 2023, the Company filed a Certificate of Change to the Articles of Incorporation to effect the Reverse Stock Split (see Note 1). All share and per share information in this Quarterly Report on Form 10-Q have been retroactively adjusted to reflect the Reverse Stock Split. As of November 6, 2023, there were 3,745,579 shares of common stock issued and 3,455,499 outstanding, and no shares of preferred stock outstanding.

The changes in condensed consolidated stockholders’ equity for the three and nine months ended September 30, 2023, and 2022, are as follows:

	Common Stock Shares		Common Stock Amount		Additional Paid-In Capital			Accumulated  Deficit			Treasury Stock			Total
Balance as of December 31, 2022		3,686,939	$	2,212	$	45,304		$	(21,979	)	$	(5,402	)	$	20,135
Common stock issued		858		1		14			—			—			15
Common stock issued under restricted stock units		1,920		1		(1	)		—			—			—
Share-based compensation expense-stock options		—		—		58			—			—			58
Share-based compensation expense-restricted stock units		—		—		69			—			—			69
Net loss		—		—		—			(1,270	)		—			(1,270	)
Balance as of March 31, 2023		3,689,717		2,214		45,444			(23,249	)		(5,402	)		19,007
Common stock issued		2,661		2		33			—			—			35
Common stock issued under restricted stock units		1,920		1		(1	)		—			—			—
Share-based compensation expense-stock options		—		—		61			—			—			61
Share-based compensation expense-restricted stock units		—		—		63			—			—			63
Net loss		—		—		—			(1,340	)		—			(1,340	)
Balance as of June 30, 2023		3,694,298		2,217		45,600			(24,589	)		(5,402	)		17,826
Common stock issued		1,254		1		12			—			—			13
Common stock issued under restricted stock units		27,418		16		(16	)		—			—			—
Share-based compensation expense-stock options		—		—		44			—			—			44
Share-based compensation expense-restricted stock units		—		—		641			—			—			641
Net income		—		—		—			90			—			90
Balance as of September 30, 2023		3,722,970	$	2,234	$	46,281		$	(24,499	)	$	(5,402	)	$	18,614

	Common Stock Shares		Common Stock Amount		Additional Paid-In Capital			Accumulated  Deficit			Treasury Stock			Total
Balance as of December 31, 2021		3,659,800	$	2,196	$	44,645		$	(8,821	)	$	(5,402	)	$	32,618
Common stock issued under restricted stock units		3,200		2		(2	)		—			—			—
Share-based compensation expense-stock options		—		—		85			—			—			85
Share-based compensation expense-restricted stock units		—		—		70			—			—			70
Net loss		—		—		—			(3,936	)		—			(3,936	)
Balance as of March 31, 2022		3,663,000		2,198		44,798			(12,757	)		(5,402	)		28,837
Common stock issued under restricted stock units		10,773		6		(6	)		—			—			—
Share-based compensation expense-stock options		—		—		51			—			—			51
Share-based compensation expense-restricted stock units		—		—		171			—			—			171
Common stock dividends ($0.03 per share)		—		—		—			(1,014	)		—			(1,015	)
Net loss		—		—		—			(4,334	)		—			(4,334	)
Balance as of June 30, 2022		3,673,773		2,204		45,014			(18,105	)		(5,402	)		23,711
Common stock issued under restricted stock units		13,166		8		(8	)		—			—			—
Share-based compensation expense-stock options		—		—		69			—			—			69
Share-based compensation expense-restricted stock units		—		—		126			—			—			126
Common stock dividends ($0.03 per share)		—		—		—			(511	)		—			(511	)
Net loss		—		—		—			(2,402	)		—			(2,402	)
Balance as of September 30, 2022		3,686,939	$	2,212	$	45,201		$	(21,018	)	$	(5,402	)	$	20,993