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Stock-based Compensation (Tables)
3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity

A summary of stock option activity for the three months ended March 31, 2024 is presented below:

 

Subject to Exercise  Number of
Options
   Weighted
Average
Exercise
Price
   Weighted
Average
Life (Years)
   Aggregate
Intrinsic
Value
 
Outstanding as of December 31, 2023   34,310   $236.70    8.62   $         - 
Granted – 2024   45,515    3.72    3.41    - 
Forfeited/Expired – 2024   (5,674)   54.24    7.94    - 
Exercised – 2024   -    -    -    - 
Outstanding as of March 31, 2024   74,151   $107.65    5.12   $- 
Options vested and exercisable at March 31, 2024   59,419   $133.13    4.21   $- 
Schedule of Outstanding Stock Options

As of March 31, 2024, the Company had outstanding stock options as follows:

 

Date Issued  Exercise Price   Number of
Options
   Expiration date 
August 2015  $9,540.00    174    December 27, 2025 
September 2015  $9,540.00    36    December 27, 2025 
November 2015  $9,540.00    205    December 27, 2025 
December 2015  $9,540.00    12    December 27, 2025 
January 2016  $9,540.00    213    January 9, 2026 
May 2016  $12,300.00    45    May 26, 2026 
September 2016  $12,300.00    21    May 31, 2026 
January 2017  $12,300.00    10    January 1, 2027 
January 2018  $11,820.00    8    January 1, 2028 
January 2019  $564.00    92    January 1, 2029 
October 2021  $1,260.00    207    October 26, 2031 
January 2022  $844.80    111    January 1, 2032 
August 2022  $387.26    462    August 23, 2032 
January 2023  $57.60    237    January 25, 2025 
September 2023  $5.12    26,803    September 12, 2033 
January 2024  $4.68    8,015    January 8, 2034 
January 2024  $3.61    37,500    January 17, 2026 
                
Total outstanding options at March 31, 2024        74,151      
Schedule of Assumptions Using Black-Scholes Option Pricing Mode

The Company utilized the Black-Scholes option-pricing model. The assumptions used for the three months ended March 31, 2024 are as follows:

 

   March 31, 2024 
Risk free interest rate   3.97%
Expected Volatility   137.91%
Expected life (in years)   5.58 
Expected dividend yield   0%