Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Summary of Stock Option Activity

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

						Weighted Average
						Contractual Life		Aggregate
	Number of			Weighted Average		Remaining		Intrinsic Value
	Shares			Exercise Price		(in years)		(whole dollars)
Outstanding as of December 31, 2019		3,969,000		$	1.33		8.25	$	2,668,000
Granted		1,400,000			2.74
Exercised		—			—
Expired/Forfeited		(18,200	)		3.67
Outstanding as of December 31, 2020		5,350,800		$	1.69		7.75	$	41,442,250
Exercisable as of December 31, 2020		1,483,445		$	0.67		6.22	$	10,363,950
Outstanding as of December 31, 2020		5,350,800		$	1.69		7.75	$	41,442,250
Granted		2,224,250			8.54
Exercised		—			—
Expired/Forfeited		(472,114	)		3.27
Outstanding as of December 31, 2021		7,102,936		$	2.60		7.45	$	115,468,794
Exercisable as of December 31, 2021		1,483,445		$	0.93		5.76	$	27,661,727

Summary of Weighted Average Assumptions Used In Calculating Fair Value of Stock Options Granted

The weighted average assumptions used in calculating the fair value of stock options granted during the years ended December 31, 2021 and December 31, 2020 were as follows:

	For the Years Ended December 31,
	2021			2020
Expected life	7.5 (yrs)			7.5 (yrs)
Expected volatility		41.65	%		39.49	%
Risk-free interest rate		0.82	%		1.11	%
Expected dividend yield		0.00	%		0.00	%

Summary of Restricted Stock Activity

The Company has granted restricted stock awards ("RSAs") to certain employees. Holders of RSAs have no voting rights and are not eligible to receive dividends or other distributions paid with respect to any RSAs that have not vested. All of the shares currently vest one year from the grant date.

	Number of		Weighted-Average Grant
	RSAs		Date Fair Value Per RSA
Outstanding as of December 31, 2020		—	$	—
Granted		36,033		11.24
Vested		—		—
Forfeited		—		—
Outstanding as of December 31, 2021		36,033	$	11.24

Summary of Restricted Stock Units

The Company has granted restricted stock units ("RSUs") to certain employees. Holders of RSUs have no voting rights and are not eligible to receive dividends or other distributions paid with respect to any RSUs that have not vested. All of the shares currently vest one year from the grant date.

	Number of		Weighted-Average Grant
	RSUs		Date Fair Value Per RSU
Outstanding as of December 31, 2020		—	$	—
Granted		59,654		12.74
Vested		—		—
Forfeited		—		—
Outstanding as of December 31, 2021		59,654	$	12.74