Stock Options and Restricted Stock Units (Tables)

12 Months Ended

Dec. 31, 2022

Stock Options and Restricted Stock Units

Summary of restricted stock units issued

	Number of RSUs Outstanding			Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
Balance on December 31, 2020		19,000		$	10.78	$	332,690
Units granted		17,765			25.92		460,504
Units vested/issued		(19,000	)		10.78		464,400
Units forfeited		—			—		—
Balance on December 31, 2021		17,765		$	25.92	$	523,197
Units granted		48,240			24.99		1,205,525
Units vested/issued		(15,265	)		26.05		377,981
Units forfeited		—			—		—
Balance on December 31, 2022		50,740		$	25.00	$	1,268,500

Schedule of Black-Scholes option pricing

	Year Ended December 31,2022
Expected dividend yield		0	%
Expected stock price volatility		46	%
Weighted-average risk-free interest rate		1.68	%
Weighted-average expected life of options (in years)		6.29

summarizes information about stock options outstanding and exercisable

	Options Outstanding						Options Exercisable
Exercise Price Range	Number		Weighted Average Remaining Contractual Life (in Years)		Weighted Average Exercise Price		Number
$0.01 - 8.00		7,500		2.17		7.12		7,500
$8.01 - 11.00		3,500		4.57		10.11		3,500
$11.01 - 16.00		18,000		5.53		13.12		18,000
$16.01 - 27.00		38,000		8.30		24.19		8,000
$27.01 – 27.71		14,250		9.05		27.71		—
Total		81,250		7.13		20.31		37,000

Summary of stock options activity

	Number of Options Outstanding			Range of Exercise Price		Weighted Average Exercise Price		Aggregate Intrinsic Value
Balance on December 31, 2020		75,230		$	6.80 – 17.40	$	12.16	$	402,275
Options granted		—			—		—		—
Options exercised		(23,563	)		6.80 – 17.40		13.01		267,300
Options forfeited/cancelled		(4,500	)		9.26 – 13.21		11.45		62,385
Balance on December 31, 2021		47,167		$	6.80 – 17.40	$	11.81	$	832,254
Options granted		50,250			26.00 – 27.71		26.69		—
Options exercised		(10,000	)		7.76 – 13.21		9.12		185,500
Options forfeited/cancelled		(6,167	)		9.26 – 27.71		27.71		—
Balance on December 31, 2022		81,250		$	6.80 – 27.71	$	20.17		462,390

Schedule of unvested stock options

The following is a summary of unvested stock options during the year ended December 31, 2022 and 2021:

	Number of Options Outstanding			Weighted Average Exercise Price		Weighted Average Grant Date Fair Value
Balance on December 31, 2020		14,500		$	12.87	$	5.47
Options vested		(14,500	)		12.87		5.47
Options forfeited/cancelled		—			—		—
Balance on December 31, 2021		—			12.87		5.47
Options granted		50,250			26.69		12.54
Options vested		—			—		—
Options forfeited/cancelled		(6,000	)		27.71		13.53
Balance on December 31, 2022		44,250		$	26.55	$	12.41