Stockholder's Equity (Tables)

6 Months Ended

Jun. 30, 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		129,740		13		182,043		-			182,056
Issuance of common stock for services by employees		212,270		21		363,360		-			363,381
Amortization of non-deal warrant grants		-		-		13,383		-			13,383
Issuance of warrants for secured credit facility		-		-		97,800		-			97,800
Stock-based compensation		-		-		149,074		-			149,074
Net loss attributable to common shareholders		-		-		-		(5,694,964	)		(5,694,964	)
Balance, June 30, 2020		10,017,038	$	1,001	$	52,372,098	$	(49,929,051	)	$	2,444,048

Summary of Stock Option Activity

A summary of all stock option activity at and for the six months ended June 30, 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		(218,001	)	$	6.76
Outstanding at June 30, 2020		568,600		$	5.22
Exercisable at June 30, 2020		420,225		$	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	$	-
Six months ended June 30, 2020:
Granted		100,000			4.79 years	$	3.94	$	-
Exercised		-			-	$	-		-
Forfeited and cancelled		(556,281	)		0.53 years	$	7.51		-
Outstanding at June 30, 2020		280,278			2.84 years	$	4.76	$	-