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Stock-Based Compensation
9 Months Ended
Sep. 30, 2024
Compensation Related Costs [Abstract]  
Stock-Based Compensation

Note 6. Stock-Based Compensation

 

The Company has granted options/warrants to consultants. GAAP requires that all stock-based compensation be recognized as an expense in the condensed consolidated financial statements and that such costs be measured at the fair value of the award at the date of grant. These awards generally vest ratably over 12 to 60 months from the date of grant and the Company charges to operations quarterly the current market value of the options using the Black-Scholes method. During the nine months ended September 30, 2024 and 2023, there were no charges related to options or warrants granted to consultants.

 

During the nine months ended September 30, 2024 and 2023, the Company did not grant options to employees or directors.

 

There was no compensation expense recorded relating to restricted stock grants to employees and directors during the nine months ended September 30, 2024 and 2023.

 

As of September 30, 2024, there were 84,500 shares available for future grant under our 2019 Equity Incentive Plan, which was approved by the Company’s shareholders in June 2019.