CAPITAL STOCK, STOCK PLANS, WARRANTS AND STOCK BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2022


	Employee Stock Options Granted
	2022			2021
Weighted-average fair value per share	$	2.71			3.51
Risk -free interest rate ⁽¹⁾		3.00	%		1.05	%
Expected volatility of stock ⁽²⁾		55.72	%		58.61	%
Dividend yield		None			None
Expected option life ⁽³⁾		5.0 years			5.0 years


	Outside Director Stock Options Granted
	2022			2021
Weighted-average fair value per share	$	3.61		$	3.9
Risk -free interest rate ⁽¹⁾		2.91	%		1.23%-1.61%
Expected volatility of stock ⁽²⁾		55.04	%		55.84%-55.91%
Dividend yield		None			None
Expected option life ⁽³⁾		10.0 years			10.0 years

⁽¹⁾	The risk-free interest rate is based on the U.S. Treasury yield in effect at the grant date over the expected term of the option.

⁽²⁾	The expected volatility is based on historical volatility from our traded Common Stock over the expected term of the option.

⁽³⁾	The expected option life is based on historical exercises and post-vesting data.

The following table summarizes stock-based compensation recognized for fiscal years 2022 and 2021.

The summary of the Company’s total plans as of December 31, 2022 and 2021, and changes during the period then ended are presented as follows:

SCHEDULE OF STOCK OPTIONS ROLL FORWARD

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value ⁽²⁾
Options outstanding January 1, 2022		1,019,400		$	4.91				-
Granted		94,000		$	5.20
Exercised		(52,400	)	$	4.04			$	97,856
Forfeited/expired		(42,600	)	$	4.08
Options outstanding end of period ⁽¹⁾		1,018,400		$	5.02		3.8	$	44,262
Options exercisable at December 31, 2022⁽¹⁾		530,900		$	4.27		2.4	$	30,962

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value ⁽²⁾
Options outstanding January 1, 2021		658,400		$	3.87				-
Granted		381,000		$	6.82
Exercised		(500	)	$	3.15			$	2,175
Forfeited/expired		(19,500	)	$	6.75
Options outstanding end of period ⁽¹⁾		1,019,400		$	4.91		4.0	$	1,669,687
Options exercisable at December 31, 2021⁽¹⁾		438,400		$	3.95		2.7	$	1,064,432

⁽¹⁾	Options with exercise prices ranging from $2.79 to $7.50
⁽²⁾	The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price

The summary of the Company’s nonvested options as of December 31, 2022 and changes during the period then ended are presented as follows:

SCHEDULE OF NON VESTED OPTIONS

				Weighted Average
				Grant-Date
	Shares			Fair Value
Non-vested options January 1, 2022		581,000		$	3.13
Granted		94,000			3.39
Vested		(154,500	)		2.67
Forfeited		(33,000	)		3.08
Non-vested options at December 31, 2022		487,500		$	3.32