Stockholders’ Equity (Tables)

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Schedule of Stockholders’ Equity

	Series B Preferred Stock				Common Stock				Paid-in		Accumulated			Total Stockholders’
(Shares and dollars in thousands)	Shares		Amount		Shares		Amount		Capital		Deficit			Equity
Balance, December 31, 2021		2,500	$	-		14,791	$	1	$	72,003	$	(58,605	)	$	13,399
Stock-based compensation		-		-		-		-		2		-			2
Issuance of common stock for services by third parties		-		-		125		-		119		-			119
Issuance of common stock for services by employees		-		-		170		1		206		-			207
Issuance of detachable warrants on notes payable		-		-		-		-		948		-			948
Net loss		-		-		-		-		-		(2,074	)		(2,074	)
Balance, March 31, 2022		2,500	$	-		15,086	$	2	$	73,278	$	(60,679	)	$	12,601

Summary of Stock Option Activity

A summary of all stock option activity as of and for the three months ended March 31, 2022 is presented below:

	# of Options		Weighted-Average Exercise Price
Outstanding as of December 31, 2021		57,586	$	3.29
Outstanding as of March 31, 2022		57,586	$	3.29
Exercisable as of March 31, 2022		57,419	$	3.28

Schedule of Weighted-average Assumptions for New Warrants

The estimated fair value of the new warrants issued 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		2.3	%
Expected term (in years)		5.0
Expected dividend yield		-
Fair value of common stock	$	0.57

Summary of Warrants Activity

A summary of all warrant activity as of and for the three months ended March 31, 2022 is presented below:

	Warrants		Weighted-Average Remaining Life (Years)		Weighted-Average Exercise Price		Aggregate Intrinsic Value
Outstanding as of December 31, 2021		1,256,944		4.0	$	3.42	$	-
Granted		1,666,667		5.0		0.95		-
Outstanding as of March 31, 2022		2,923,611		4.3	$	2.05	$	-