SHARE-BASED COMPENSATION (Tables)
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3 Months Ended |
Mar. 31, 2026 |
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| EMPLOYEE STOCK OPTIONS, RESTRICTED STOCK AWARD PLAN AND 401(k) [Abstract] |
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| Schedule of Share-Based Compensation Expense Charged Against Income For Share-Based Awards |
The following table summarizes the Company's share-based compensation, included with General and administrative expense within our Condensed Statements of Operations, incurred for the three months ended March 31, 2026 and 2025.
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Three Months Ended |
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March 31, 2026 |
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March 31, 2025 |
| Share-based compensation |
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$ |
1,524,808 |
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$ |
1,690,958 |
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Share-based compensation expense charged against income for share-based awards during the three months ended March 31, 2026 and 2025 was as follows. These amounts are included in General and administrative expense in the Condensed Statements of Operations.
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Three Months Ended |
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March 31, 2026 |
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March 31, 2025 |
Share-based compensation expense from: |
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Employee stock options |
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$ |
— |
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$ |
— |
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Restricted stock unit grants |
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1,284,783 |
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1,247,329 |
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Performance stock unit awards |
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240,025 |
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443,629 |
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| Total share-based compensation |
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$ |
1,524,808
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$ |
1,690,958
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| Schedule of Status of the Stock Options |
A summary of the status of the stock options as of March 31, 2026 and 2025 and changes during the respective three month periods then ended are as follows:
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Options |
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Weighted-
Average
Exercise Price |
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Weighted-Average Remaining Contractual Term |
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Aggregate Intrinsic Value |
| Outstanding, December 31, 2024 |
65,500 |
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$ |
10.70 |
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| Granted |
— |
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— |
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| Forfeited |
— |
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— |
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| Expired |
— |
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— |
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| Exercised |
— |
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— |
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| Outstanding, March 31, 2025 |
65,500 |
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$ |
10.70 |
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1.31 years |
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$ |
— |
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| Exercisable, March 31, 2025 |
65,500 |
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$ |
10.70 |
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1.31 years |
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| Outstanding, December 31, 2025 |
51,000 |
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$ |
10.18 |
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| Granted |
— |
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— |
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| Forfeited |
— |
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— |
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| Expired |
— |
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— |
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| Exercised |
— |
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— |
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| Outstanding, March 31, 2026 |
51,000 |
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$ |
10.18 |
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0.52 years |
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$ |
— |
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| Exercisable, March 31, 2026 |
51,000 |
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$ |
10.18 |
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0.52 years |
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| Schedule of Restricted Stock Unit Outstanding |
A summary of the RSUs outstanding as of March 31, 2026 and 2025, respectively, and changes during the respective three month periods then ended are as follows:
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Restricted Stock Units |
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Weighted-
Average Grant
Date Fair Value |
| Outstanding, December 31, 2024 |
3,817,128 |
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$ |
1.70 |
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| Granted |
3,691,373 |
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1.31 |
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| Forfeited or rescinded |
— |
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— |
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| Vested |
(1,983,465) |
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1.75 |
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| Outstanding, March 31, 2025 |
5,525,036 |
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$ |
1.42 |
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| Outstanding, December 31, 2025 |
4,912,110 |
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$ |
1.40 |
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| Granted |
5,716,485 |
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1.28 |
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| Forfeited or rescinded |
(39,395) |
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1.29 |
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| Vested |
(2,400,525) |
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1.46 |
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| Outstanding, March 31, 2026 |
8,188,675 |
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$ |
1.29 |
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| Schedule of Performance Stock Units Outstanding |
A summary of the PSUs outstanding as of March 31, 2026 and 2025, respectively, along with changes during the respective three month periods then ended are as follows:
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Performance Stock Units |
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Weighted-
Average Grant
Date Fair Value |
| Outstanding, December 31, 2024 |
1,891,892 |
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$ |
2.47 |
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| Granted |
— |
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— |
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| Forfeited or rescinded |
— |
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— |
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| Vested |
— |
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— |
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| Outstanding, March 31, 2025 |
1,891,892 |
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$ |
2.47 |
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| Outstanding, December 31, 2025 |
2,209,991 |
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$ |
1.42 |
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| Granted |
— |
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| Forfeited or rescinded |
— |
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— |
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| Vested |
— |
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— |
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| Outstanding, March 31, 2026 |
2,209,991 |
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$ |
1.42 |
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