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Stockholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2021
Stockholders Equity Note [Abstract] |
Summary of Stock Option Activity | A summary of stock option activity under the plans during the years ended December 31, 2021 and 2020, are as follows:
|  | Stock Options Outstanding |
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life (in years) |  |  | Aggregate Intrinsic Value |
Outstanding on January 1, 2020 |  |  | 1,686,444 |  |  | $ | 1.32 |  |  |  | 4.84 |  |  | $ | 4,531,038 |
Granted |  |  | 432,125 |  |  | $ | 2.17 |  |  |  | 9.46 |  |  | $ | 795,553 |
Forfeited / Canceled |  |  | (38,197 | ) |  | $ | 2.32 |  |  |  | 7.01 |  |  | $ | (63,826 | )
Exercised |  |  | (760,105 | ) |  | $ | 0.88 |  |  |  | 2.78 |  |  | $ | (2,370,491 | )
Outstanding on December 31, 2020 |  |  | 1,320,267 |  |  | $ | 1.81 |  |  |  | 6.43 |  |  | $ | 2,889,274 |
Granted |  |  | - |  |  | $ | - |  |  |  | - |  |  | $ | - |
Forfeited / Canceled |  |  | (13,772 | ) |  | $ | 2.66 |  |  |  | 6.21 |  |  | $ | (28,359 | )
Exercised |  |  | (280,996 | ) |  | $ | 1.05 |  |  |  | 2.08 |  |  | $ | (1,096,540 | )
Outstanding on December 31, 2021 |  |  | 1,025,499 |  |  | $ | 2.01 |  |  |  | 6.35 |  |  | $ | 3,014,448 |
Exercisable on December 31, 2021 |  |  | 1,013,455 |  |  | $ | 2.00 |  |  |  | 6.33 |  |  | $ | 2,986,348 |
Vested and expected to vest on December 31, 2021 |  |  | 1,025,138 |  |  | $ | 2.01 |  |  |  | 6.35 |  |  | $ | 3,013,605 |
Summary of Common Stock Options Outstanding | The following table summarizes information about common stock options outstanding as of December 31, 2021:
|  |  |  | Stock Options Outstanding |  |  | Stock Options Exercisable |
Plan |  | Exercise Price Range |  | Number of Shares Outstanding |  |  | Weighted Average Remaining Contractual Life (in years) |  |  | Weighted Average Exercise Price |  |  | Number of Shares Exercisable |  |  | Weighted Average Remaining Contractual Life (in years) |  |  | Weighted Average Exercise Price |
2011 |  | $0.46-$0.80 |  |  | 120,529 |  |  |  | 1.97 |  |  | $ | 0.54 |  |  |  | 120,529 |  |  |  | 1.97 |  |  | $ | 0.54 |
2015 |  | $1.08-$1.95 |  |  | 335,310 |  |  |  | 5.04 |  |  | $ | 1.77 |  |  |  | 335,310 |  |  |  | 5.04 |  |  | $ | 1.77 |
2017 |  | $2.14-$4.09 |  |  | 569,660 |  |  |  | 8.05 |  |  | $ | 2.46 |  |  |  | 557,616 |  |  |  | 8.05 |  |  | $ | 2.46 |
|  |  |  |  | 1,025,499 |  |  |  |  |  |  |  |  |  |  |  | 1,013,455 |  |  |  |  |  |  |  |  |
Schedule of Assumption to Calculate Weighted Average Grant Date Fair Value of Options Grant | The following table presents details of the assumptions used to calculate the weighted-average grant date fair value of common stock options granted by the Company. There were no options granted during the year ended December 31, 2021.
|  | For the Year Ended December 31, |
|  | 2021 |  |  | 2020 |
Expected term (in years) |  |  | - |  |  | 5.04 |
Expected volatility |  | 0.00% |  |  | 43.5 - 47.8% |
Risk-free interest rate |  | 0.00% |  |  | 0.33% |
Weighted average grant date fair value per share |  | $ | - |  |  | $ | 0.83 |
Grant date fair value of options vested |  | $ | 185,818 |  |  | $ | 554,575 |
Intrinsic value of options exercised |  | $ | 1,096,540 |  |  | $ | 2,370,491 |
Schedule of Restricted Stock Unit Activity | The Company’s restricted stock unit activity for the years ended December 31, 2021 and 2020, is as follows:
|  | Restricted Stock Units |
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
Unvested on January 1, 2020 |  |  | 216,670 |  |  | $ | 3.02 |
Granted |  |  | 554,251 |  |  | $ | 2.63 |
Vested |  |  | (151,251 | ) |  | $ | 3.16 |
Canceled |  |  | (43,748 | ) |  | $ | 2.43 |
Unvested on December 31, 2020 |  |  | 575,922 |  |  | $ | 2.65 |
Granted |  |  | 432,196 |  |  | $ | 5.76 |
Vested |  |  | (398,193 | ) |  | $ | 3.18 |
Canceled |  |  | (5,125 | ) |  | $ | 5.88 |
Unvested on December 31, 2021 |  |  | 604,800 |  |  | $ | 4.49 |
Summary of Stock-Based Compensation Expense | Stock-based compensation expense for the years ended December 31, 2021 and 2020, was comprised of the following:
|  | For the Year Ended December 31, |
Stock-based compensation classified as: |  | 2021 |  |  | 2020 |
General and administrative |  | $ | 1,094,036 |  |  | $ | 556,935 |
Production |  |  | 190,330 |  |  |  | 65,631 |
Marketing and selling |  |  | 270,311 |  |  |  | 65,580 |
Research and development |  |  | 140,428 |  |  |  | 36,232 |
|  | $ | 1,695,105 |  |  | $ | 724,378 |
Schedule of Warrant Activity | The following table summarizes the Company’s warrant activity during the years ended December 31, 2021 and 2020:
|  | Number of Warrants |  |  | Weighted Average Exercise Price |
Warrants outstanding on January 1, 2020 |  |  | 630,947 |  |  | $ | 4.16 |
Warrants granted |  |  |  |  |  | $ | - |
Warrants exercised |  |  | (125,001 | ) |  | $ | 0.76 |
Warrants outstanding on December 31, 2020 |  |  | 505,946 |  |  | $ | 5.00 |
Warrants granted |  |  | - |  |  | $ | - |
Warrants exercised |  |  | (54,834 | ) |  | $ | 1.96 |
Warrants outstanding on December 31, 2021 |  |  | 451,112 |  |  | $ | 5.37 |

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- Definition Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 + Details
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