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Stockholders’ Equity (Tables)
 3 Months Ended
Mar. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Option Activity

A summary of option activity under the Company’s stock option plan for three months ended March 31, 2024 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, 2023   1,200,000   $2.12   $8,700    2.4 
Employee options granted   -    -    -    - 
Employee options forfeited   -    -    -    - 
Outstanding as of March 31 ,2024   1,200,000   $2.12   $17,150    2.1 
Options vested and exercisable as of March 31 ,2024   1,145,000   $2.15   $1,300    2.0 
Summary of Restricted Stock

A summary of the Company’s restricted stock units granted under the 2021 Plan during the three months ended March 31, 2024 are as follows:

 

   Number of Restricted Stock Units  

Weighted Average Grant

Date Fair Value

 
Nonvested at December 31, 2023   1,606,373   $3.25 
Granted   300,000    1.71 
Forfeited   (100,000)   1.63 
Nonvested at March 31, 2024   1,806,373   $3.09 
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 months ended March 31, 2024 and 2023 was as follows:

 

   2024   2023 
  

For the Three Months

Ended March 31,

 
   2024   2023 
Employee stock option awards  $9,280   $3,307 
Employee restricted stock unit awards   239,146    267,338 
Non-employee restricted stock awards   -    15,908 
Stock-based compensation  $248,426   $286,553 
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,		 
   2024   2023 
Exercise price  $-   $0.63 
Term (years)   -    5.00 
Expected stock price volatility   0.00%   152.84%
Risk-free rate of interest   0.00%   3.99%