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Stockholders’ Equity (Tables)
 6 Months Ended
Jun. 30, 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 six months ended June 30, 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   120,000    1.52    -    4.9 
Employee options expired   (17,500)   10.30    -    - 
Outstanding as of June 30, 2024   1,302,500   $1.96   $4,950    2.2 
Options vested and exercisable as of June 30, 2024   1,127,500   $2.03   $-    1.8 
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, 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 June 30, 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 and six months ended June 30, 2024 and 2023 was as follows:

 

   2024   2023   2024   2023 
   For the Three Months Ended June 30,   For the Six Months Ended June 30, 
   2024   2023   2024   2023 
Employee stock option awards  $22,712   $(8,619)  $31,993   $(5,312)
Employee restricted stock unit awards   241,752    228,953    480,898    496,291 
Non-employee restricted stock awards   35,578    8,333    60,580    24,242 
Stock-based compensation  $300,042   $228,667   $573,471   $515,221 
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
   Six Months Ended
June 30,		 
   2024   2023 
Exercise price  $1.55   $0.63 
Term (years)   5.00    5.00 
Expected stock price volatility   144.57%   152.84%
Risk-free rate of interest   4.31%   3.99%