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Stock Incentive Plan and Warrants (Tables)
12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Stock Options Granted Valued Using Black Scholes Model

Stock options granted during the year ended December 31, 2020 were valued using the Black Scholes Model, with the following assumptions used:

 

Expected terms (years)   2.50 
Expected volatility   93%
Risk-free interest rate   0.23%
Expected dividend   0.00%
Summary of Option Activity

The following table summarizes option activity during the year ended December 31, 2021 and 2020:

 

       Weighted Average 
   Shares   Exercise Price 
         
Outstanding and exercisable at January 1, 2020   3,000,000   $0.88 
           
Granted   2,525,000    0.20 
Forfeited   (725,000)   0.88 
Outstanding and exercisable at December 31, 2020   4,800,000   $0.46 
Forfeited   (1,175,000)   0.89 
Outstanding and exercisable at December 31, 2021   3,625,000   $0.32 
Summary of Stock Options Outstanding

The following table summarizes information about stock options outstanding at December 31, 2021:

 

Options Outstanding  Options Exercisable
Exercise Price   Outstanding Number of Options  Weighted Average Remaining Life In Years  Exercisable Number of Options
           
$0.12   2,425,000  3.90  2,425,000
$0.29   100,000  3.90  100,000
$0.67   200,000  1.60  200,000
$0.75   550,000  3.90  550,000
$0.84   150,000  0.50  150,000
$0.88   150,000  2.60  150,000
$0.93   50,000  0.40  50,000
     3,625,000  3.55  3,625,000
Schedule of Assumptions of Warrants

In applying the Black-Scholes option pricing model to warrants granted, the Company used the following assumptions:

 

   For the Years Ended 
   December 31, 
   2021   2020 
Contractual terms (years)   3.00    3.00 
Expected volatility   92%   93%-95%
Risk-free interest rate   0.35%   .011%-0.18%
Expected dividend   0.00%   0.00%
Summary of Warrant Activity

The following table summarizes warrant activity during the year ended December 31, 2021 and 2020:

 

   Number of   Weighted Average 
   Warrants   Exercise Price 
         
Outstanding and exercisable at January 1, 2020   126,109,532   $0.29 
Granted   62,500    0.29 
Exercised   (7,855,062)   0.05 
Forfeited   (31,052,806)   1.06 
Outstanding and exercisable at December 31, 2020   87,264,164   $0.02 
Granted   25,000    0.29 
Exercised   (18,052,966)   0.05 
Forfeited   (68,723,698)   0.05 
Outstanding and exercisable at December 31, 2021   512,500   $0.92 
Summary of Warrants Outstanding

The following table summarizes information about warrants outstanding at December 31, 2021:

 

Warrants Outstanding   Warrants Exercisable 
Exercise Price   Outstanding Number of Warrant   Weighted Average Remaining Life In Years   Exercisable Number of Warrants 
              
$0.29    125,000    1.49    125,000 
$1.00    18,000    2.39    18,000 
$1.12    366,000    2.39    366,000 
$2.00    3,500    2.39    3,500 
                  
      512,500    2.17    512,500