Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following table presents the stock option activity for the year ended December 31, 2021:

	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value (in thousands)
Outstanding - December 31, 2020		9,539,249		$	2.50		8.3	$	—
Granted		1,461,000			1.50
Exercised		—			—				—
Expired		(80,000	)		2.50				—
Outstanding - December 31, 2021		10,920,249		$	1.96		7.6	$	—
Exercisable - December 31, 2021		9,210,249		$	2.04		7.3	$	—

Summary of Assumptions Used to Estimate Fair Value of Stock Options Granted

The following table summarizes the assumptions used to estimate the fair value of stock options granted during the years ended December 31:

	2021			2020
Approximate risk-free rate	0.7% - 1.3%			0.3% - 1.4%
Expected life (in years)	5.0 - 5.75			5.0 - 5.75
Dividend yield		0	%		0	%
Volatility	47.1% - 47.5%			41.9% - 46.4%

Summary of Activity for Warrants Outstanding

The following table presents information related to stock-based compensation warrants outstanding and exercisable as of December 31, 2021 and 2020:

	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value (in thousands)
Outstanding - December 31, 2020		1,161,099	$	4.65		4.9	$	—
Outstanding - December 31, 2021		1,911,099	$	3.42		5.9	$	—
Exercisable - December 31, 2021		1,911,099	$	3.42		5.9	$	—