Stockholders’ Equity (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Summary of Stock Option Activity

A summary of all stock option activity as of and for the year ended December 31, 2022 is presented below:

	# of Options			Weighted- Average Exercise Price
Outstanding as of December 31, 2021		57,586		$	3.29
Options canceled		(5,834	)		4.43
Outstanding as of December 31, 2022		51,752		$	3.16
Exercisable as of December 31, 2022		51,585		$	3.16

Schedule of Weighted-average Assumptions for New Warrant

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		2.6	%
Expected term (in years)		5.0
Expected dividend yield		-
Fair value of common stock	$	0.71

Summary of Warrant Activity

A summary of all warrant activity as of and for the year ended December 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		2,916,667			4.3		1.20		-
Forfeited and cancelled		(140,278	)		-		0.97		-
Outstanding as of December 31, 2022		4,033,333			3.8	$	1.67	$	-