Quarterly report pursuant to Section 13 or 15(d)

Stock Options (Tables)

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Stock Options (Tables)
6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Assumptions Used
The fair value of the options granted during the six months ended June 30, 2024 were calculated using the Black-Scholes Merton (“BSM”) option pricing model based on the following assumptions:
Exercise Price $ 0.95 
Dividend Yield –  %
Volatility 92.1  %
Risk-free interest rate 4.3  %
Expected life of options 5.0 years
Schedule of Stock Option Activity
The following table summarizes the Company’s option activity:
Stock Options Weighted-Average Remaining Contractual Life Weighted-Average Exercise Price per Share
Outstanding at December 31, 2023 1,183,908 5.56 $ 14.96 
Granted 35,000 4.97 $ 0.95 
Exercised $ – 
Forfeited/Cancelled (254,302) $ 21.00 
Expired (5,800) $ 19.90 
Outstanding at June 30, 2024 958,806 5.27 $ 12.81 
Unvested at June 30, 2024 107,349 4.48 $ 4.40 
Vested and exercisable at June 30, 2024 851,457 5.37 $ 13.87