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Stock Options (Table)
9 Months Ended
Sep. 30, 2022
Stockholders Equity (Tables)  
Fair value of stock options

 

 

February 11,

2021

 

 

March 15,

2021

 

 

September 6,

2022

 

 

September 28,

2022

 

Fair value

 

$604,572

 

 

$9,860

 

 

$505,476

 

 

$41,799

 

Options issued

 

 

283,936

 

 

 

3,572

 

 

 

165,000

 

 

 

15,000

 

Exercise price

 

$5.60

 

 

$5.60

 

 

$5.25

 

 

$4.75

 

Expected term (in years)

 

 

3.0

 

 

 

3.0

 

 

 

3.0

 

 

 

3.0

 

Risk-free rate

 

 

0.19%

 

 

0.33%

 

 

3.55%

 

 

4.12%

Volatility

 

 

97.9%

 

 

99.3%

 

 

89.3%

 

 

89.2%
Schedule of Activity in the Company's stock options

 

 

Number of Options

 

 

Weighted Average Exercise Prices

 

Balance December 31, 2020

 

 

150,000

 

 

$

1.83 

 

Granted

 

 

469,674

 

 

$5.53

 

Exercised

 

 

(101,786)

 

$1.87

 

Forfeited

 

 

(10,713)

 

$5.60

 

Balance December 31, 2021

 

 

507,175

 

 

$5.25

 

Granted

 

 

180,000

 

 

$5.21

 

Exercised

 

 

(116,078)

 

$4.31

 

Expired

 

 

(7,143

 

 

$1.96

 

Forfeited

 

 

(21,429)

 

$5.60

 

Balance September 30, 2022

 

 

542,525

 

 

$5.47

 

Outstanding and exercisable at September 30, 2022

 

 

542,525

 

 

$

5.47