Stock Options (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Stock Option Activities

The following table summarizes the Company’s stock option activities for the years ended December 31, 2020 and 2019:

	Number of shares			Exercise price per share		Weighted average exercise price
Balance, December 31, 2018		660,000			$0.75 – 1.75	$	1.35
Granted		347,000			$2.44 – 4.13	$	2.99
Cancelled or expired		(56,112	)		$0.75 – 3.46	$	1.41
Exercised		(315,888	)		$0.75 – 1.70	$	1.15
Balance, December 31, 2019		635,000			$0.75 – 1.75	$	1.35
Granted		172,000		$	2.44	$	2.44
Cancelled or expired		(13,000	)		$2.44 – 3.46	$	2.75
Exercised		(45,000	)		$0.75 – 1.05	$	0.88
Balance, December 31, 2020		749,000			$0.75 – 4.13	$	2.42
Exercisable, December 31, 2020		502,000			$0.75 – 4.13	$	2.51

Schedule of Stock Option Fair Value Assumptions

The fair value of each option grant is calculated using the following weighted average assumptions:

	2020			2019
Expected life – years		3.0			3.0
Interest rate		0.37	%		1.69 – 1.93	%
Volatility		70.14	%		43.89 – 57.24	%
Weighted average fair value of options granted	$	1.12		$	0.7892 – 1.6399