Common Stock (Tables)

12 Months Ended

Dec. 31, 2023

Common Stock

Assumptions for grants

Expected volatility		20	%
Expected dividend yield	None
Expected term (in years)		3
Risk-free interest rate	1.68 to 2.82		%

Options outstanding

Balance of employee stock options outstanding as of 12/31/21	4,855,167
Stock options granted during the year ended 12/31/22	520,000
Stock options exercised during the year ended 12/31/22	0
Stock options forfeited/expired during the year ended 12/31/22	(59,000	)
Balance of employee stock options outstanding as of 12/31/22	5,316,167
Stock options granted during the year ended 12/31/23	0
Stock options exercised during the year ended 12/31/23	0
Stock options forfeited/expired during the year ended 12/31/23	(2,076,167	)
Balance of employee stock options outstanding as of 12/31/23	3,240,000

Number of non-vested options outstanding

Balance of employee non-vested stock options outstanding as of 12/31/21	1,041,500
Stock options granted during the year ended 12/31/22	520,000
Stock options vested during the year ended 12/31/22	(327,500	)
Stock options forfeited/expired during the year ended 12/31/22	(59,000	)
Balance of employee non-vested stock options outstanding as of 12/31/22	1,175,000
Stock options granted during the year ended 12/31/23	0
Stock options vested during the year ended 12/31/23	(217,833	)
Stock options forfeited/expired during the year ended 12/31/23	(396,168	)
Balance of employee non-vested stock options outstanding as of 12/31/23	560,999