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Stockholders’ Equity (Tables)
 6 Months Ended
Jun. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of Weighted-Average Assumptions Used to Estimate Fair Value

The following weighted-average assumptions were used to estimate the fair value of options granted during the six months ended June 30, 2023 and 2022 for the Monte-Carlo simulation:

 

   Valuation Dates 
   January 1, 2023   January 2, 2022 
   (Modification)   (Original Issuance) 
Vesting Hurdle Price   $3.81 - $30.52    $8.07 - $36.99 
Term (years)   4.00    5.00 
Expected stock price volatility   97.30%   103.72%
Risk-free rate of interest   4.10%   1.32%
Summary of Option Activity

A summary of option activity under the Company’s stock option plan for six months ended June 30, 2023 is presented below:

 

               Weighted Average 
       Weighted        Remaining 
   Number of   Average   Total   Contractual Life 
   Shares   Exercise Price   Intrinsic Value   (in years) 
Outstanding as of December 31, 2022   1,150,000   $2.15   $-    3.3 
Employee options granted   20,000    0.63    -    - 
Employee options forfeited   (35,000)   1.02    11,100        - 
Outstanding as of June 30, 2023   1,135,000   $2.16   $-    2.8 
Options vested and exercisable as of June 30, 2023   1,135,000   $2.16   $-    2.8 
Schedule of Restricted Stock Units

The RSUs granted to each executive employee are as follows:

 

         Total    Market Cap Vesting Thresholds 
Officer Name  Title  Grant Date  RSUs Granted   $ 50 million   $ 100 million   $ 150 million   $ 300 million 
Charles Allen  Chief Executive Officer  1/2/2022   694,444    173,611    173,611    173,611    173,611 
Michal Handerhan  Chief Operations Officer  1/2/2022   444,444    111,111    111,111    111,111    111,111 
Michael Prevoznik  Chief Financial Officer  1/2/2022   222,224    55,556    55,556    55,556    55,556 
Manish Paranjape  Chief Technology Officer  2/22/2022   160,184    40,046    40,046    40,046    40,046 
            1,521,296    380,324    380,324    380,324    380,324 
Summary of Restricted Stock

A summary of the Company’s restricted stock units granted under the 2021 Plan during the six months ended June 30, 2023 are as follows:

 

   Number of   Weighted Average 
   Restricted    Grant Day  
   Stock Units   Fair Value 
Nonvested at December 31, 2022   1,590,552   $3.34 
Granted   50,000    0.63 
Vested   (9,153)   4.37 
Forfeited   -    - 
Nonvested at June 30, 2023   1,631,399   $3.25 
Schedule of Stock-based Compensation Expense

Stock-based compensation expense is recorded as a part of selling, general and administrative expenses, compensation expenses and cost of revenues. Stock-based compensation expense for the three and six months ended June 30, 2023 and 2022 was as follows:

 

   2023   2022   2023   2022 
   For the Three Months Ended June 30,   For the Six Months Ended June 30, 
   2023   2022   2023   2022 
Employee bonus stock awards  $-   $-   $-   $894,027 
Employee stock option awards   (8,619)   12,812    (5,312)   82,446 
Employee restricted stock unit awards   228,953    405,714    496,291    747,704 
Non-employee restricted stock awards   8,333    89,656    24,242    171,737 
Stock-based compensation  $228,667   $508,182   $515,221   $1,895,914 
2021 Equity Incentive Plan [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of Weighted-Average Assumptions Used to Estimate Fair Value

   Three Months Ended March 31, 
   2023   2022 
Exercise price  $0.63    - 
Term (years)   5.00    - 
Expected stock price volatility   152.8%   - 
Risk-free rate of interest   3.99%   -