SHARE REPURCHASE PROGRAM AND SHARE REPURCHASES |
3 Months Ended |
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Mar. 31, 2026 | |
| SHARE REPURCHASE PROGRAM AND SHARE REPURCHASES [Abstract] | |
| SHARE REPURCHASE PROGRAM AND SHARE REPURCHASES | 8. SHARE REPURCHASE PROGRAM AND SHARE REPURCHASES
On September 17, 2024, the Board of Directors approved a new stock repurchase plan and the Company was authorized to repurchase up to $5 million (at then-current market value) of the Company’s common stock in open-market transactions at prevailing market prices upon periodic instructions from the Board or an authorized sub-committee of the Board until September 30, 2026. As of March 31, 2026, $5.0 million remained available for repurchase under this new program.
On June 17, 2025, the Company entered into a stock purchase agreement with Janet Carr, our former Chief Executive Officer; wherein the Company agreed to purchase 430,897 shares from Ms. Carr at $3.00 per share, for a total of $1,292,691. The transaction was completed on July 18, 2025; accordingly, the Company immediately cancelled the shares and the impact of this transaction is reflected in our cash balance, common shares and additional paid-in-capital in our financial statements as of March 31, 2026.
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