Stockholder's Equity (Tables)

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Schedule of Shareholder's Equity

	Common Stock				Paid-in		Accumulated			Total Stockholders’
	Shares		Amount		Capital		Deficit			Equity
Balance, December 31, 2019		9,675,028	$	967	$	51,566,438	$	(44,234,087	)	$	7,333,318
Issuance of common stock for services by third parties		11,460		1		36,670		-			36,671
Issuance of common stock for services by employees		79,338		8		253,868		-			253,876
Amortization of non-deal warrant grants		-		-		7,976		-			7,976
Issuance of warrants for secured credit facility		-		-		97,800		-			97,800
Stock-based compensation		-		-		60,159		-			60,159
Net loss attributable to common shareholders		-		-		-		(3,508,549	)		(3,508,549	)
Balance, March 31, 2020		9,765,826	$	976	$	52,022,911	$	(47,742,636	)	$	4,281,252

Summary of Stock Option Activity

A summary of all stock option activity at and for the three months ended March 31, 2020 is presented below:

	# of Options			Weighted- Average Exercise Price
Outstanding at December 31, 2019		784,101		$	5.65
Options granted		-		$	-
Options exercised		-		$	-
Options canceled		(199,001	)	$	6.92
Outstanding at March 31, 2020		585,100		$	5.22
Exercisable at March 31, 2020		429,975		$	5.03

Schedule of Weighted-average Assumptions for Warrants

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

Volatility		40	%
Risk-free interest rate		1.54	%
Expected term (in years)		5.0
Expected dividend yield		-
Fair value of common stock	$	3.20

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, 2019		736,559			1.18 years	$	6.95	$	-
Three months ended March 31, 2020:
Granted		100,000			4.79 years	$	3.94	$	-
Exercised		-			-	$	-		-
Forfeited and cancelled		(146,262	)		2.00 years	$	7.80		-
Outstanding at March 31, 2020		690,297			1.32 years	$	6.95	$	-