Pay vs Performance Disclosure - USD ($)
|
12 Months Ended |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
Pay vs Performance Disclosure |
|
|
|
|
Pay vs Performance Disclosure, Table |
|
PAY VERSUS PERFORMANCE
The following table sets forth additional compensation
information of our Chief Executive Officer (referred to as our “PEO” in this section) and of the average of our other NEOs
(the “Non-PEO NEOs”) along with total shareholder return and net loss for 2024, 2023 and 2022:
Year |
| Summary Compensation Table Total for 2024 PEO(1) ($) |
|
| Compensation Actually Paid to 2024 PEO(2) ($) |
|
| Summary Compensation Table Total for Former PEO(1) |
|
| Compensation Actually Paid to Former PEO(2) |
|
| Summary Compensation Table Total for Former PEO (1) |
|
| Compensation Actually Paid to Former PEO(2) |
|
| Average Summary Compensation Table Total for Non-PEO NEOs (1) ($) |
|
| Average Compensation Actually Paid to Non-PEO NEOs (2) ($) |
|
| Value of Initial Fixed $100 Investment Based on: Total Shareholder Return (3) ($) |
|
| Net Income (Loss) ($) |
|
2024 |
| |
274,864 |
|
| |
247,511 |
|
| |
168,891 |
|
| |
24,495 |
|
| |
— |
|
| |
— |
|
| |
178,963 |
|
| |
133,557 |
|
| |
0.0 |
|
| |
(15,849,805 |
) |
2023 |
| |
— |
|
| |
— |
|
| |
569,114 |
|
| |
113,661 |
|
| |
— |
|
| |
— |
|
| |
396,715 |
|
| |
236,000 |
|
| |
6.1 |
|
| |
(8,132,167 |
) |
2022 |
| |
— |
|
| |
— |
|
| |
837,238 |
|
| |
912,428 |
|
| |
189,118 |
|
| |
194,131 |
|
| |
680,236 |
|
| |
528,915 |
|
| |
24.3 |
|
| |
(10,352,240 |
) |
(1) |
For 2024, the PEO was Kyle
Udseth until May 17, 2024, and Scott Maskin beginning May 17, 2024, and the Non-PEO NEOs were Eric Ingvaldson until August 28, 2024,
Andy Childs beginning August 28, 2024, James Brennan, and Kristin Hlavka. For 2023, the PEO was Kyle Udseth, and the Non-PEO NEOs were
Eric Ingvaldson and Kristin Hlavka. For 2022, the PEO was Roger H.D. Lacey until March 28, 2022, and Kyle Udseth, beginning March 28,
2022, and the Non-PEO NEOs were Eric Ingvaldson and Kristin Hlavka. |
(2) |
A reconciliation of Total Compensation
from the Summary Compensation Table (“SCT”) to Compensation Actually Paid to our PEOs and our Non-PEO NEOs (as an average)
is shown below: |
(3) |
Total shareholder return (“TSR”) as calculated
is based on a fixed investment of $100 measured from the market close on December 31, 2021 through and including the end of the fiscal
year for each year reported in the table. |
|
|
|
Named Executive Officers, Footnote |
|
For 2024, the PEO was Kyle
Udseth until May 17, 2024, and Scott Maskin beginning May 17, 2024, and the Non-PEO NEOs were Eric Ingvaldson until August 28, 2024,
Andy Childs beginning August 28, 2024, James Brennan, and Kristin Hlavka. For 2023, the PEO was Kyle Udseth, and the Non-PEO NEOs were
Eric Ingvaldson and Kristin Hlavka. For 2022, the PEO was Roger H.D. Lacey until March 28, 2022, and Kyle Udseth, beginning March 28,
2022, and the Non-PEO NEOs were Eric Ingvaldson and Kristin Hlavka.
|
|
|
Adjustment To PEO Compensation, Footnote |
|
Adjustments |
| 2024 PEO ($) |
|
| Former PEO (Udseth) ($) |
|
| Average of Non-PEO NEOs ($) |
|
Total 2024 Compensation from SCT |
| |
274,864 |
|
| |
168,891 |
|
| |
178,963 |
|
Subtraction: Stock Awards and Option Awards reported in SCT |
| |
— |
|
| |
— |
|
| |
— |
|
Addition: Fair value at year-end of awards granted during the covered fiscal year that are outstanding and unvested at covered year-end |
| |
— |
|
| |
— |
|
| |
— |
|
Addition (Subtraction): Year-over-year change in fair value of awards granted in any prior fiscal year that are outstanding and unvested at covered year-end |
| |
(13,686 |
) |
| |
— |
|
| |
(11,589 |
) |
Addition: Vesting date fair value of awards granted and vesting during the covered year |
| |
— |
|
| |
— |
|
| |
— |
|
Addition (Subtraction): Change as of the vesting date (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered year* |
| |
(13,667 |
) |
| |
(57,350 |
) |
| |
(11,315 |
) |
(Subtraction): Fair value at end of prior year of awards granted in any prior fiscal year that failed to meet the applicable vesting conditions during the covered year |
| |
— |
|
| |
(87,046 |
) |
| |
(22,502 |
) |
Addition: Dividends or other earnings paid on stock or option awards in the covered year prior to vesting if not otherwise included in the total compensation for the covered year |
| |
— |
|
| |
— |
|
| |
— |
|
Compensation Actually Paid for 2024 (as calculated) |
| |
247,511 |
|
| |
24,495 |
|
| |
133,557 |
|
Adjustments |
| Former PEO (Udseth) ($) |
|
| Average of Non-PEO NEOs ($) |
|
Total 2023 Compensation from SCT |
| |
569,114 |
|
| |
396,715 |
|
Subtraction: Stock Awards and Option Awards reported in SCT |
| |
151,072 |
|
| |
109,527 |
|
Addition: Fair value at year-end of awards granted during the covered fiscal year that are outstanding and unvested at covered year-end |
| |
63,214 |
|
| |
45,830 |
|
Addition (Subtraction): Year-over-year change in fair value of awards granted in any prior fiscal year that are outstanding and unvested at covered year-end |
| |
(264,304 |
) |
| |
(69,747 |
) |
Addition: Vesting date fair value of awards granted and vesting during the covered year |
| |
— |
|
| |
— |
|
Addition (Subtraction): Change as of the vesting date (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered year |
| |
(103,291 |
) |
| |
(27,272 |
) |
(Subtraction): Fair value at end of prior year of awards granted in any prior fiscal year that failed to meet the applicable vesting conditions during the covered year |
| |
— |
|
| |
— |
|
Addition: Dividends or other earnings paid on stock or option awards in the covered year prior to vesting if not otherwise included in the total compensation for the covered year |
| |
— |
|
| |
— |
|
Compensation Actually Paid for 2023 (as calculated) |
| |
113,661 |
|
| |
235,999 |
|
Adjustments |
| Former PEO (Udseth) ($) |
|
| Former PEO (Lacey) ($) |
|
| Average of Non-PEO NEOs ($) |
|
Total 2022 Compensation from SCT |
| |
837,238 |
|
| |
189,118 |
|
| |
408,171 |
|
Subtraction: Stock Awards and Option Awards reported in SCT and value of “Acceleration of Stock Options and Restricted Stock Units” as reported in SCT under All Other Compensation* |
| |
455,696 |
|
| |
30,380 |
|
| |
243,670 |
|
Addition: Fair value at year-end of awards granted during the covered fiscal year that are outstanding and unvested at covered year-end |
| |
530,886 |
|
| |
35,393 |
|
| |
140,095 |
|
Addition (Subtraction): Year-over-year change in fair value of awards granted in any prior fiscal year that are outstanding and unvested at covered year-end |
| |
— |
|
| |
— |
|
| |
— |
|
Addition: Vesting date fair value of awards granted and vesting during the covered year |
| |
— |
|
| |
— |
|
| |
— |
|
Addition (Subtraction): Change as of the vesting date (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered year |
| |
— |
|
| |
— |
|
| |
— |
|
(Subtraction): Fair value at end of prior year of awards granted in any prior fiscal year that failed to meet the applicable vesting conditions during the covered year |
| |
— |
|
| |
— |
|
| |
— |
|
Addition: Dividends or other earnings paid on stock or option awards in the covered year prior to vesting if not otherwise included in the total compensation for the covered year |
| |
— |
|
| |
— |
|
| |
— |
|
Compensation Actually Paid for 2022 (as calculated) |
| |
912,428 |
|
| |
194,131 |
|
| |
304,596 |
|
|
|
|
Compensation Actually Paid vs. Net Income |
|
Compensation Actually Paid vs Net Income (Loss)

|
|
|
Total Shareholder Return Vs Peer Group |
|
Compensation Actually Paid vs TSR

|
|
|
Total Shareholder Return Amount |
[1] |
$ 0
|
$ 6.1
|
$ 24.3
|
Net Income (Loss) |
|
$ (15,849,805)
|
$ (8,132,167)
|
$ (10,352,240)
|
PEO Name |
|
Scott Maskin
|
Kyle Udseth
|
Roger H.D. Lacey
|
Scott Maskin [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
PEO Total Compensation Amount |
[2] |
$ 274,864
|
|
|
PEO Actually Paid Compensation Amount |
[3] |
247,511
|
|
|
Scott Maskin [Member] | Stock Awards and Option Awards reported in SCT [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
|
Scott Maskin [Member] | Fair value at year-end of awards granted during the covered fiscal year that are outstanding and unvested at covered year-end [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
|
Scott Maskin [Member] | Year-over-year change in fair value of awards granted in any prior fiscal year that are outstanding and unvested at covered year-end [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
(13,686)
|
|
|
Scott Maskin [Member] | Vesting date fair value of awards granted and vesting during the covered year [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
|
Scott Maskin [Member] | Change as of the vesting date in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered year [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
(13,667)
|
|
|
Scott Maskin [Member] | Fair value at end of prior year of awards granted in any prior fiscal year that failed to meet the applicable vesting conditions during the covered year [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
|
Scott Maskin [Member] | Dividends or other earnings paid on stock or option awards in the covered year prior to vesting if not otherwise included in the total compensation for the covered year [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
|
Kyle Udseth [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
PEO Total Compensation Amount |
[2] |
168,891
|
$ 569,114
|
$ 837,238
|
PEO Actually Paid Compensation Amount |
[3] |
24,495
|
113,661
|
912,428
|
Kyle Udseth [Member] | Stock Awards and Option Awards reported in SCT [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
151,072
|
|
Kyle Udseth [Member] | Fair value at year-end of awards granted during the covered fiscal year that are outstanding and unvested at covered year-end [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
63,214
|
530,886
|
Kyle Udseth [Member] | Year-over-year change in fair value of awards granted in any prior fiscal year that are outstanding and unvested at covered year-end [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
(264,304)
|
|
Kyle Udseth [Member] | Vesting date fair value of awards granted and vesting during the covered year [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
|
Kyle Udseth [Member] | Change as of the vesting date in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered year [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
(57,350)
|
(103,291)
|
|
Kyle Udseth [Member] | Fair value at end of prior year of awards granted in any prior fiscal year that failed to meet the applicable vesting conditions during the covered year [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
(87,046)
|
|
|
Kyle Udseth [Member] | Dividends or other earnings paid on stock or option awards in the covered year prior to vesting if not otherwise included in the total compensation for the covered year [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
|
Kyle Udseth [Member] | Stock Awards and Option Awards reported in SCT and value of “Acceleration of Stock Options and Restricted Stock Units” as reported in SCT under All Other Compensation [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
455,696
|
Non-PEO NEO |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Non-PEO NEO Average Total Compensation Amount |
[2] |
178,963
|
396,715
|
680,236
|
Non-PEO NEO Average Compensation Actually Paid Amount |
[3] |
133,557
|
236,000
|
528,915
|
Roger H.D. Lacey [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
PEO Total Compensation Amount |
[2] |
|
|
189,118
|
PEO Actually Paid Compensation Amount |
[3] |
|
|
194,131
|
Roger H.D. Lacey [Member] | Fair value at year-end of awards granted during the covered fiscal year that are outstanding and unvested at covered year-end [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
35,393
|
Roger H.D. Lacey [Member] | Year-over-year change in fair value of awards granted in any prior fiscal year that are outstanding and unvested at covered year-end [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
|
Roger H.D. Lacey [Member] | Vesting date fair value of awards granted and vesting during the covered year [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
|
Roger H.D. Lacey [Member] | Change as of the vesting date in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered year [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
|
Roger H.D. Lacey [Member] | Fair value at end of prior year of awards granted in any prior fiscal year that failed to meet the applicable vesting conditions during the covered year [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
|
Roger H.D. Lacey [Member] | Dividends or other earnings paid on stock or option awards in the covered year prior to vesting if not otherwise included in the total compensation for the covered year [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
|
Roger H.D. Lacey [Member] | Stock Awards and Option Awards reported in SCT and value of “Acceleration of Stock Options and Restricted Stock Units” as reported in SCT under All Other Compensation [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
30,380
|
Andy Childs [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Non-PEO NEO Average Total Compensation Amount |
|
178,963
|
|
|
Non-PEO NEO Average Compensation Actually Paid Amount |
|
133,557
|
|
|
Andy Childs [Member] | Stock Awards and Option Awards reported in SCT [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
|
Andy Childs [Member] | Fair value at year-end of awards granted during the covered fiscal year that are outstanding and unvested at covered year-end [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
|
Andy Childs [Member] | Year-over-year change in fair value of awards granted in any prior fiscal year that are outstanding and unvested at covered year-end [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
(11,589)
|
|
|
Andy Childs [Member] | Vesting date fair value of awards granted and vesting during the covered year [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
|
Andy Childs [Member] | Change as of the vesting date in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered year [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
(11,315)
|
|
|
Andy Childs [Member] | Fair value at end of prior year of awards granted in any prior fiscal year that failed to meet the applicable vesting conditions during the covered year [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
(22,502)
|
|
|
Andy Childs [Member] | Dividends or other earnings paid on stock or option awards in the covered year prior to vesting if not otherwise included in the total compensation for the covered year [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
|
Eric Ingvaldson [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Non-PEO NEO Average Total Compensation Amount |
|
|
396,715
|
|
Non-PEO NEO Average Compensation Actually Paid Amount |
|
|
235,999
|
|
Eric Ingvaldson [Member] | Stock Awards and Option Awards reported in SCT [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
109,527
|
|
Eric Ingvaldson [Member] | Fair value at year-end of awards granted during the covered fiscal year that are outstanding and unvested at covered year-end [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
45,830
|
|
Eric Ingvaldson [Member] | Year-over-year change in fair value of awards granted in any prior fiscal year that are outstanding and unvested at covered year-end [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
(69,747)
|
|
Eric Ingvaldson [Member] | Vesting date fair value of awards granted and vesting during the covered year [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
|
Eric Ingvaldson [Member] | Change as of the vesting date in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered year [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
(27,272)
|
|
Eric Ingvaldson [Member] | Fair value at end of prior year of awards granted in any prior fiscal year that failed to meet the applicable vesting conditions during the covered year [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
|
Eric Ingvaldson [Member] | Dividends or other earnings paid on stock or option awards in the covered year prior to vesting if not otherwise included in the total compensation for the covered year [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
|
Kristin Hlavka [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Non-PEO NEO Average Total Compensation Amount |
|
|
|
408,171
|
Non-PEO NEO Average Compensation Actually Paid Amount |
|
|
|
304,596
|
Kristin Hlavka [Member] | Fair value at year-end of awards granted during the covered fiscal year that are outstanding and unvested at covered year-end [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
140,095
|
Kristin Hlavka [Member] | Year-over-year change in fair value of awards granted in any prior fiscal year that are outstanding and unvested at covered year-end [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
|
Kristin Hlavka [Member] | Vesting date fair value of awards granted and vesting during the covered year [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
|
Kristin Hlavka [Member] | Change as of the vesting date in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered year [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
|
Kristin Hlavka [Member] | Fair value at end of prior year of awards granted in any prior fiscal year that failed to meet the applicable vesting conditions during the covered year [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
|
|
Kristin Hlavka [Member] | Dividends or other earnings paid on stock or option awards in the covered year prior to vesting if not otherwise included in the total compensation for the covered year [Member] |
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
Adjustment to Compensation, Amount |
|
|
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Kristin Hlavka [Member] | Stock Awards and Option Awards reported in SCT and value of “Acceleration of Stock Options and Restricted Stock Units” as reported in SCT under All Other Compensation [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
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$ 243,670
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