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Stockholders’ Equity (Tables)
 9 Months Ended
Sep. 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 nine months ended September 30, 2023 and 2022 for the Monte-Carlo simulation:

 

   Valuation Dates 
   January 1, 2023
(Modification)		   January 2, 2022
(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 nine months ended September 30, 2023 is presented below:

   Number of Shares   Weighted Average Exercise Price   Total Intrinsic Value   Weighted Average Remaining Contractual Life (in years) 
Outstanding as of December 31, 2022   1,150,000   $2.15   $-    3.3 
Employee options granted   35,000    0.81    -    4.9 
Employee options forfeited   (35,000)   1.02    11,100    - 
Outstanding as of September 30, 2023   1,150,000   $2.14   $-    2.5 
Options vested and exercisable as of September 30, 2023   1,135,000   $2.16   $-    2.5 
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 nine months ended September 30, 2023 are as follows:

 

   Number of
Restricted
Stock Units		   Weighted Average
Grant Day
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 September 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 nine months ended September 30, 2023 and 2022 was as follows:

 

 

   2023   2022   2023   2022 
  

For the Three Months Ended

September 30,

  

For the Nine Months Ended

September 30,

 
   2023   2022   2023   2022 
Employee bonus stock awards  $-   $-   $-   $894,027 
Employee stock option awards   441    16,455    (4,871)   98,901 
Employee restricted stock unit awards   230,118    434,349    726,409    1,182,053 
Non-employee restricted stock awards   21,536    30,480    45,777    202,218 
Stock-based compensation  $252,095   $481,284   $767,315   $2,377,199 
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

  

Nine Months Ended

September 30,

 
   2023   2022 
Exercise price  $0.81   $1.51 
Term (years)   5.00    5.00 
Expected stock price volatility   151.6%   165.8%
Risk-free rate of interest   4.15%   2.77%