Stockholder's Equity (Tables)

12 Months Ended

Dec. 31, 2018

Summary of Stock Option Activity

A summary of all stock option activity at and for the years ended December 31, 2018 and 2017 is presented below:

	# of Options			Weighted- Average Exercise Price
Outstanding at December 31, 2016		173,750		$	9.25
Options granted		243,667			4.34
Options exercised		(9,260	)		5.40
Options canceled		(39,151	)		5.39
Outstanding at December 31, 2017		369,006		$	6.47
Options granted		654,000			5.47
Options exercised		(48,715	)		4.56
Options canceled		(78,433	)		4.86
Outstanding at December 31, 2018		895,858		$	5.62
Exercisable at December 31, 2018		406,464		$	5.80

Schedule of Weighted-average Assumptions Used in Black-scholes Valuation Method

The following weighted-average assumptions were used in the Black-Scholes valuation model for options granted during the year ended December 31, 2018:

Risk-free interest rate	2.65	%
Expected term (in years)	6.28
Dividend yield	-
Expected volatility	56	%

Warrant [Member]

Schedule of Weighted-average Assumptions Used in Black-scholes Valuation Method

The estimated fair value of the warrants at issuance was $2,110,997, based on a combination of closing market trading price on the date of issuance for the public offering warrants, and the Black-Scholes option-pricing model using the weighted-average assumptions below:

Volatility		48	%
Risk-free interest rate		2.59	%
Expected term (in years)		4.0
Expected dividend yield		-
Fair value of common stock	$	7.95

Summary of Warrant Activity

A summary of activity in warrants is as follows:

	Warrants			Weighted Average Remaining Life		Weighted Average Exercise Price		Aggregate Intrinsic Value
Outstanding at December 31, 2017		2,623,077			3.62 years	$	5.96	$	54,880
Twelve months ended December 31, 2018:
Granted		510,000			4.47 years	$	5.42	$	387,600
Exercised		(2,015,620	)			$	5.36		-
Forfeited and cancelled		(34,022	)		4.25 years	$	5.40		-
Outstanding at December 31, 2018		1,083,435			1.04 years	$	6.83	$	-