|3 Months Ended|
Mar. 31, 2023
|Share-Based Payment Arrangement [Abstract]|
SCHEDULE OF STOCK OPTION ACTIVITY
At March 31, 2023, the intrinsic value of the outstanding options was $.
During the three months ended March 31, 2023, the Company granted stock options to board members to purchase a total of stock options as replacement awards related to forfeited restricted stock units. The options have an average exercise price of $ per share, expire in five years, and vested on the grant date. The total fair value of these options at grant date was $ using the Black-Scholes Option Pricing model. The total stock compensation expense recognized relating to the vesting of stock options for the three months ended March 31, 2023 amounted to $367. As of March 31, 2023, the total unrecognized share-based compensation expense was $, which is expected to be recognized as part of operating expense through December 2025.
SCHEDULE OF FAIR VALUE ASSUMPTIONS USING BLACK-SCHOLES METHOD
The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of measurement corresponding with the expected term of the share option award; the expected term represents the weighted-average period of time that share option awards granted are expected to be outstanding giving consideration to vesting schedules and historical participant exercise behavior; the expected volatility is based upon historical volatility of the Company’s common stock; and the expected dividend yield is based on the fact that the Company has not paid dividends in the past and does not expect to pay dividends in the future.
The entire disclosure for share-based payment arrangement.
Reference 1: http://www.xbrl.org/2003/role/exampleRef
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