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

3 Months Ended

Mar. 31, 2024

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 months ended March 31, 2024, and 2023 for our employee and director stock options.

	Three Months Ended
Stock Options	March 31,
	2024		2023
Employee Stock Options	$	91,000	$	86,000
Director Stock Options		61,000		32,000
Total	$	152,000	$	118,000

Schedule of Stock Options Roll Forward

The summary of the Company’s total Stock Option Plans as of March 31, 2024 and March 31, 2023, and changes during the periods then ended, are presented below. The Company’s Plans consist of the 2017 Plan and the 2003 Outside Directors Stock Plan (the “2003 Plan”):

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value (4)
Options outstanding January 1, 2024		994,500		$	5.57
Granted		45,000		$	7.75
Exercised		(43,500	)	$	5.61			$	212,410
Forfeited		(11,000	)	$	7.01
Options outstanding end of period (1)		985,000		$	5.66		4.8	$	6,139,346
Options exercisable at March 31, 2024(2)		350,300		$	5.06		3.8	$	2,391,576

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value (4)
Options outstanding January 1, 2023		1,018,400		$	5.02
Granted		295,000		$	3.95
Exercised		(44,400	)	$	3.56			$	370,196
Forfeited/expired		(4,500	)	$	3.90
Options outstanding end of period (3)		1,264,500		$	4.83		4.2	$	8,791,279
Options exercisable at March 31, 2023(3)		499,500		$	4.30		2.3	$	6,047,029

(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 of the option.