Capital Stock, Stock Plans and Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation, Allocation of Recognized Period Costs

The following table summarizes stock-based compensation recognized for the three and nine months ended September 30, 2023 and 2022 for our employee and director stock options.

	Three Months Ended				Nine Months Ended
Stock Options	September 30,				September 30,
	2023		2022		2023		2022
Employee Stock Options	$	94,000	$	76,000	$	273,000	$	248,000
Director Stock Options		55,000		29,000		119,000		62,000
Total	$	149,000	$	105,000	$	392,000	$	310,000

Schedule of Stock Options Roll Forward

The summary of the Company’s stock option plans as of September 30, 2023 and September 30, 2022, and changes during the periods then ended, are presented below. The Company’s plans consist of the 2017 Plan and the 2003 Plan:

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value (2)
Options outstanding January 1, 2023		1,018,400		$	5.02
Granted		365,000		$	3.19
Exercised		(282,400	)	$	3.70			$	2,118,892
Forfeited/expired/cancelled		(64,500	)	$	3.67
Options outstanding end of period (1)		1,036,500		$	5.48		5.1	$	5,146,126
Options exercisable at September 30, 2023(2)		302,300		$	4.91		3.9	$	1,675,604

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value (4)
Options outstanding January 1, 2022		1,019,400		$	4.91
Granted		94,000		$	5.20
Exercised		(52,400	)	$	4.04			$	97,856
Forfeited/expired		(9,600	)	$	5.50
Options outstanding end of period (3)		1,051,400		$	4.98		4.0	$	492,939
Options exercisable at September 30, 2022(3)		453,900		$	3.93		2.4	$	354,709

(1)	Options with exercise prices ranging from $3.15 to $9.81
(2)	Options with exercise prices ranging from $3.15 to $7.50
(3)	Options with exercise prices ranging from $2.79 to $7.50
(4)	The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price.