Stockholders’ Equity (Tables)

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The significant weighted average assumptions relating to the valuation of the Company’s stock options granted during the six months ended June 30, 2020 were as follows:

	June 30, 2020
Dividend yield		0.00	%
Expected life		3.5 Years
Expected volatility		90.09	%
Risk-free interest rate		0.29	%

Summary of Stock Options

A summary of the options activity for the six months ended June 30, 2020 is as follows:

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at January 1, 2020		2,480,470		$	0.39		6.28	$	378,111
Granted		296,167			0.99		4.95		—
Exercised/Forfeited		(226,250	)		1.65		—		—
Outstanding at June 30, 2020		2,550,387			0.35		5.91	$	2,162,940
Exercisable at period end		1,609,175		$	0.22		5.69	$	1,559,751

A summary of the options activity for the six months ended June 30, 2019 is as follows:

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at January 1, 2019		1,494,158		$	0.46		6.93	$	409,678
Granted		602,000			0.41		8.08		—
Exercised/Forfeited		(70,438	)		0.49		—		—
Outstanding at June 30, 2019		2,025,720			0.44		6.97		215,883
Exercisable at period end		1,218,544		$	0.34		6.57	$	208,659