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v3.23.2

Summary of Significant Accounting Policies (Tables) | 6 Months Ended
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Jun. 30, 2023
Reconciliation of Numerators and Denominators used in Computing Basic and Diluted Net Income Per Share | The following is a reconciliation of the numerators and denominators used in computing basic and diluted net income per share:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, 2023 |  |  | June 30, 2022 |  |  | June 30, 2023 |  |  | June 30, 2022 |
Net income (loss) |  | $ | (5,723,690 | ) |  | $ | (4,683,485 | ) |  | $ | 10,876,844 |  |  | $ | (12,913,714 | )
Numerator, basic and diluted net loss available to stockholders |  | $ | (5,723,690 | ) |  | $ | (4,683,485 | ) |  | $ | 10,876,844 |  |  | $ | (12,913,714 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Shares used in computation – basic: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares outstanding |  |  | 19,918,677 |  |  |  | 15,803,746 |  |  |  | 19,793,265 |  |  |  | 15,088,662 |
Shares used in computation – diluted: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares outstanding |  |  | 19,918,677 |  |  |  | 15,803,746 |  |  |  | 20,019,461 |  |  |  | 15,088,662 |
Net (loss) income per share – basic |  | $ | (0.29 | ) |  | $ | (0.30 | ) |  | $ | 0.55 |  |  | $ | (0.86 | )
Net (loss) income per share – diluted |  | $ | (0.29 | ) |  | $ | (0.30 | ) |  | $ | 0.54 |  |  | $ | (0.86 | )
In the Money Potential Common Shares [Member] |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The potential common shares in the following tables represent potential common shares calculated using the if-converted method from outstanding options, stock awards and warrants that were excluded from the calculation of diluted EPS:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, 2023 |  |  | June 30, 2022 |  |  | June 30, 2023 |  |  | June 30, 2022 |
Average market price during the period |  | $ | 3.24 |  |  | $ | 4.85 |  |  | $ | 3.22 |  |  | $ | 5.38 |
In the money potential common shares from options excluded |  |  | 18,422 |  |  |  | 22,493 |  |  |  | — |  |  |  | 22,493 |
In the money potential common shares from warrants excluded |  |  | — |  |  |  | 7,496,331 |  |  |  | — |  |  |  | 7,496,331 |
Out of Money Potential Common Shares [Member] |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | Potential common shares from out of the money options and warrants were also excluded from the computation of diluted EPS because calculation of the associated potential common shares has an anti-dilutive effect on EPS. The following table lists options and warrants that were excluded fro m diluted EPS:
|  | Three Months Ended |  | Six Months Ended
Per share exercise price |  | June 30, 2023 |  | June 30, 2022 |  | June 30, 2023 |  | June 30, 2022
Out of the money options excluded: |  |  |  |  |  |  |  |
$3.42 |  | 3,091 |  | — |  | 3,091 |  | —
$3.43 |  | 17,105 |  | — |  | 17,105 |  | —
$3.53 |  | 200,000 |  | — |  | 200,000 |  | —
$3.59 |  | 7,521 |  | — |  | 7,521 |  | —
$3.60 |  | 604,243 |  | — |  | 604,243 |  | —
$12.48 |  | 136,833 |  | 136,833 |  | 136,833 |  | 136,833
$12.84 |  | 4,167 |  | 4,167 |  | 4,167 |  | 4,167
$26.40 |  | 75,158 |  | 75,158 |  | 75,158 |  | 75,158
Out-of-the-money warrants excluded: |  |  |  |  |  |  |  |
$3.35 |  | 4,939,515 |  | — |  | 4,939,515 |  | —
$3.78 |  | 3,584,828 |  | — |  | 3,584,828 |  | —
$3.99 |  | 551,378 |  | — |  | 551,378 |  | —
$4.67 |  | 131,816 |  | — |  | 131,816 |  | —
$4.75 |  | 1,873,622 |  | — |  | 1,873,622 |  | —
$5.76 |  | 196,135 |  | 196,135 |  | 196,135 |  | 196,135
$7.16 |  | 700,000 |  | 700,000 |  | 700,000 |  | 700,000
Total excluded |  | 13,025,412 |  | 1,112,293 |  | 13,025,412 |  | 1,112,293
Unvested Restricted Stock Awards Excluded from EPS [Member] |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The equivalent common shares relating to our unvested restricted stock awards that were excluded from potential common shares in the earning per share calculation due to having an anti-dilutive effect are:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, 2023 |  |  | June 30, 2022 |  |  | June 30, 2023 |  |  | June 30, 2022 |
Excluded unvested restricted stock awards |  |  | 207,774 |  |  |  | 283,812 |  |  |  | — |  |  |  | 283,812 |

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