|
10.
Stock-Based Compensation
A
summary of the Company’s outstanding stock option activity for the years ended December 31, 2023 and 2022 is as follows:
Schedule of Stock Option Activity
| |
|
|
|
|
December 31, 2023 |
|
|
|
|
| |
|
|
|
|
Weighted- Average
Exercise
|
|
|
Weighted- Average Remaining Contractual Life
|
|
|
Intrinsic |
|
| |
|
Options |
|
|
Price |
|
|
(Years) |
|
|
Value |
|
| As of December 31, 2022 |
|
|
11,909 |
|
|
$ |
234.02 |
|
|
|
7.9 |
|
|
|
- |
|
| Granted |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Exercised |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Forfeited |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Expired |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| As of December 31, 2023 |
|
|
11,909 |
|
|
$ |
109.77 |
|
|
|
6.9 |
|
|
$ |
- |
|
| Exercisable at December 31, 2023 |
|
|
10,239 |
|
|
$ |
261.49 |
|
|
|
7.0 |
|
|
$ |
- |
|
| Vested and expected to vest at December 31, 2023 |
|
|
9,724 |
|
|
$ |
109.27 |
|
|
|
6.9 |
|
|
$ |
- |
|
| |
|
|
|
|
December 31, 2022 |
|
|
|
|
| |
|
|
|
|
Weighted- Average
Exercise
|
|
|
Weighted- Average Remaining Contractual Life
|
|
|
Intrinsic |
|
| |
|
Options |
|
|
Price |
|
|
(Years) |
|
|
Value |
|
| As of December 31, 2021 |
|
|
8,339 |
|
|
$ |
391.00 |
|
|
|
8.7 |
|
|
|
87,553 |
|
| Granted |
|
|
3,570 |
|
|
|
44.60 |
|
|
|
10.0 |
|
|
|
- |
|
| Exercised |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Forfeited |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Expired |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| As of December 31, 2022 |
|
|
11,909 |
|
|
$ |
234.02 |
|
|
|
7.9 |
|
|
$ |
- |
|
| Exercisable at December 31, 2022 |
|
|
11,301 |
|
|
$ |
239.73 |
|
|
|
7.9 |
|
|
$ |
- |
|
| Vested and expected to vest at December 31, 2022 |
|
|
10,026 |
|
|
$ |
256.90 |
|
|
|
7.9 |
|
|
$ |
- |
|
The
Company estimates the fair value of each stock option on the grant date using the Black-Scholes-Merton valuation model, which requires
several estimates including an estimate of the fair value of the underlying common stock on grant date. The expected volatility was based
on an average of the historical volatility of the Company. The expected term was contractual life of option. The risk-free interest rate
was based on the U.S. Treasury yield curve in effect at the time of grant for the expected term of the option.
Unrecognized
stock-based compensation as of December 31, 2023, is as follows (in thousands):
Schedule of Unrecognized Stock-based Compensation
| |
|
Unrecognized Stock-Based Compensation |
|
|
Weighted Average Remaining
of Recognition
(in years) |
|
| Stock options |
|
$ |
82 |
|
|
|
0.5 |
|
| Stock grants |
|
|
34 |
|
|
|
8.2 |
|
|