Share-Based Compensation

12 Months Ended

Dec. 31, 2023

Share-Based Compensation [Line Items]

Share-Based Payment Arrangement [Text Block]

16.  Share-Based Compensation

The Company accounts for all share-based payments to employees and directors, including grants of employee stock options, at fair value and expenses the benefit in the Consolidated Statements of Operations over the service period (generally the vesting period).  The fair value of each stock option granted is estimated on the date of grant using the Black-Scholes pricing valuation model, which requires various assumptions including estimating stock price volatility, expected life of the stock option, risk free interest rate and estimated forfeiture rate.

On March 28, 2022, the Company granted stock options to purchase 280,000 shares to executives and employees at an exercise price of $0.40 per share, which vested on March 28, 2023.  The options were valued at the grant date using the Black-Scholes model with the following inputs:  expiration date March 28, 2026; risk-free rate of return 2.55%; and volatility 108%.

The Company currently has one stock option plan.  As of December 31, 2023, 800 shares of Common Stock were available for grant under the Non-Employee Director Stock Option Plan.

Changes in the stock option plan are as follows:

	Number of Shares			Weighted Average Exercise
	Authorized	Granted	Available	Price
Balance   January   1, 2022	800	-	800	N/A
Authorized	-	-	-
Expired	-	-	-
Granted	-	-	-
Balance     December      31, 2022	800	-	800
Authorized	-	-	-
Expired	-	-	-
Granted	-	-	-
Balance     December     31, 2023	800	-	800

Under the Non-Employee Director Stock Option Plan, option prices must be at least 100% of the market value of the Common Stock at the time of grant.  No option may be exercised prior to one year after the date of grant and the optionee must be a director of the Company at the time of exercise, except in certain cases as permitted by the Compensation Committee.  Exercise periods are for six years from the date of grant and terminate at a stipulated period of time after an optionee ceases to be a director.  At December 31, 2023, there were no outstanding options to purchase shares.

As of December 31, 2023, there was no unrecognized compensation cost related to non-options granted under the Plans.

The Company issued 280,000 stock options to certain employees on March 28, 2022.  The options vested on March 28, 2023 and are exercisable until March 28, 2026 at a price of $0.40 per share.