Stockholders’ Equity (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Stock Option Activity

A summary of all stock option activity as of and for the years ended December 31, 2021 and 2020 is presented below:

	# of Options			Weighted- Average Exercise Price
Outstanding as of December 31, 2019		784,101		$	5.65
Options granted		22,000			0.65
Options canceled		(671,587	)		5.70
Outstanding as of December 31, 2020		134,514		$	4.71
Options granted		5,000			0.53
Options exercised		(5,000	)		1.23
Options canceled		(76,928	)		4.95
Outstanding as of December 31, 2021		57,586		$	3.29
Exercisable as of December 31, 2021		54,628		$	3.20

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, 2021:

Risk-free interest rate	1.69	%
Expected term (in years)	5.0
Dividend yield	-
Expected volatility	75	%

Schedule of Weighted-average Assumptions for Warrants

Volatility		75	%
Risk-free interest rate		1.17	%
Expected term (in years)		4.0
Expected dividend yield		-
Fair value of common stock	$	2.61

Summary of Warrant Activity

A summary of activity in warrants was as follows:

	Warrants			Weighted- Average Remaining Life (Years)		Weighted- Average Exercise Price		Aggregate Intrinsic Value
Outstanding as of December 31, 2020		240,278			3.2	$	4.85	$	-
Granted		1,916,666			4.5		3.09		-
Exercised		(900,000	)		2.7		2.65		-
Outstanding as of December 31, 2021		1,256,944			4.0	$	3.42	$	-

New Warrants [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Weighted-average Assumptions for New Warrants

The estimated fair value of the New Warrants was 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 assumptions below:

Volatility		75	%
Risk-free interest rate		0.69	%
Expected term (in years)		5.0
Expected dividend yield		-
Fair value of common stock	$	3.88