From time to time, the Company may issue stock awards in the form of Class A Common Stock grants, Restricted Stock Units (RSUs), or Class A Common Stock options with vesting/service terms. Stock awards are valued on the grant date using the Company’s common stock share price quoted on an active market. Stock options are valued using the Black-Scholes-Merton pricing model to determine the fair value of the options. We generally issue our awards in terms of a fixed monthly value, resulting in a variable number of shares being issued, or in terms of a fixed monthly share number.

During the three and six months ended June 30, 2023 and 2022, the Company entered into agreements with advisory board members and other external advisors to issue cash payments and stock awards in exchange for services rendered to the Company monthly. The total granted stock-based awards to advisory board members and other external advisors during the three months ended June 30, 2023 and 2022 included grants totaling, $0 and $1 thousand, respectively, options totaling $0, and RSUs totaling $6 thousand and $37 thousand, respectively.

The total granted stock-based awards to advisory board members and other external advisors during the six months ended June 30, 2023 and 2022 included grants totaling, $0 and $4 thousand, respectively, options totaling $0, and RSUs totaling $9 thousand and $54 thousand, respectively.

In addition to issuing stock awards to advisory board members and other external advisors, during the three and six months ended June 30, 2023 and 2022, the Company granted stock-based awards to multiple employees. The total granted stock-based awards to employees during the three months ended June 30, 2023 and 2022 included grants totaling, $21 thousand and $73 thousand, respectively, options totaling $3 thousand and $14 thousand, respectively, and RSUs totaling $68 thousand and $335 thousand, respectively.

The total granted stock-based awards to employees during the six months ended June 30, 2023 and 2022 included grants totaling, $47 thousand and $221 thousand, respectively, options totaling $7 thousand and $43 thousand, respectively, and RSUs totaling $95 thousand and $424 thousand, respectively.


	Options Outstanding	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life (years)	Aggregate Intrinsic Value
Balance as of January 1, 2022	395,002	$	6.40	2.42	$	5,365,737
Options granted	7,443	3.20
Options exercised	(15,121)	6.30
Options canceled and forfeited	(215)	4.40
Balance as of December 31, 2022	387,109	$	6.40	1.45	$	—
Options granted	2,647	3.01
Options exercised	(1,230)	3.25
Options canceled and forfeited	(756)	7.94
Balance as of March 31, 2023	387,770	$	6.37	1.21	$	—
Options granted	2,675	2.24
Options exercised	0	—
Options canceled and forfeited	(937)	6.40
Balance as of June 30, 2023	389,508	6.34		0.98	—
Options vested and exercisable as of June 30, 2023	389,508	$	6.34	0.98	$	—


	Options Outstanding	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life (years)	Aggregate Intrinsic Value
Balance as of January 1, 2023	387,109	$	6.40	1.45	$	—
Options granted	5,322	2.57
Options exercised	(1,230)	3.25
Options canceled and forfeited	(1,693)	7.09
Balance as of June 30, 2023	389,508	6.34		0.98	—
Options vested and exercisable as of June 30, 2023	389,508	$	6.34	0.98	—

The aggregate intrinsic value of options outstanding, exercisable, and vested is calculated as the difference between the exercise price of the underlying options and the fair value of the Company’s common stock. The aggregate intrinsic value of options exercised during the six months ended June 30, 2023 and 2022 is $0 and $19 thousand, respectively.

The weighted average grant-date fair value of options granted during the six months ended June 30, 2023 and 2022 was $1.48 and $11.95 per share, respectively. The total grant-date fair value of options that vested during the six months ended June 30, 2023 and 2022 was $7 thousand and $44 thousand, respectively.

As of June 30, 2023, the Company had 389,508 stock options outstanding of which all are fully vested options. As of June 30, 2023, the Company had 66,630 common stock grants outstanding of which 58,135 were vested but not issued and 8,495 were not yet vested. All granted and outstanding common stock grants will fully vest by June 30, 2024. The

As of June 30, 2023, the Company had 186,789 RSUs outstanding of which 147,518 were vested but not issued and 39,271 were not yet vested. All granted and outstanding RSUs will fully vest by January 2, 2024. The Company had unrecognized stock-based compensation related to RSUs of $97 thousand as of June 30, 2023.


			RSU Outstanding Number of Shares
Balance as of January 1, 2022			126,900
Granted			211,700
Vested (issued)			(46,036)
Forfeited			—
Balance as of December 31, 2022			292,564
Granted			9,253
Vested (issued)			(98,193)
Forfeited			(16,835)
Balance as of June 30, 2023			186,789


Fair value of Class A Common Stock	$1.60—3.57
Exercise price	$1.99 — 3.09
Risk free interest rate	3.82 — 4.27%
Expected dividend yield	0.00	%
Expected volatility	85.88 — 96.45%
Expected term	3 Years


	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
Cost of services	$	161	$	1,220	$	656	$	3,394
Research and development	12,766		50,440		31,620		110,300
Selling, general, and administrative	84,810		407,986		125,035		633,738
Total stock-based compensation expense	$	97,737	$	459,646	$	157,311	$	747,432