Equity-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2021

Equity [Abstract]

Schedule of Stock Options Activity

The following table sets forth the activity of the options to purchase common stock under the 2019 Plan.

	Number of Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value
Outstanding as of December 31, 2020		939,114	$	5.73	$	17,250
Granted		179,797		3.14		-
Exercised		-		-		-
Canceled		-		-		-
Balance as of September, 2021		1,118,911	$	5.32	$	333,368
Exercisable as of September, 2021		582,858	$	2.63	$	17,325

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of each option granted is estimated as of the grant date using the Black-Scholes option pricing model with the following assumptions:

	Nine months ended September 30,
	2021		2020
Risk-free interest rate range	0.22 to 0.73	%	0.48 to 1.65	%
Expected life of option-years	5.3 to 6.5		5.20 to 5.77
Expected stock price volatility	107 to 125	%	110.8 to 128.	%
Expected dividend yield	-	%	-	%

Schedule of Share Based Payments Arrangements Options Exercised and Options Vested

	Total Intrinsic Value of Options Exercised		Total Fair Value of Options Vested
Year ended December 31, 2020	$	-	$	1,495,744
Nine months ended September 30, 2021	$	-	$	1,137,129

Schedule of Aggregate Restricted Stock Awards and Restricted Stock Unit Activity

The following table summarizes the Company’s aggregate restricted stock awards and restricted stock unit activity under the Company’s 2019 Plan during the nine months ended September 30, 2021:

	Number of Shares			Weighted Average Grant Date Fair Value		Aggregate Value of Shares
Balance as of December 31, 2020		16,698		$	4.67	$	77,927
Granted		86,563			3.62		285,094
Vested		(74,669	)		3.51		(262,356	)
Forfeitures		-			-		-
Balance as of September 30, 2021		28,592		$	3.34	$	100,665