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Share-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2023
Share-Based Compensation [Abstract] |
Schedule of Non-Vested Restricted Share | As of September 30, 2023, non-vested restricted share units granted on October 23, 2020 are as follows:
Non-vested share units as of January 1, 2023 |  |  | 16,665 |
Granted |  |  | - |
Vested |  |  | (16,665 | )
Non-vested share units as of September 30, 2023 |  |  | - |
Non-vested share units as of April 11, 2023 |  |  |
Granted |  |  | 894,000 |
Vested |  |  | (443,000 | )
Forfeited |  |  | (8,000 | )
Non-vested share units as of September 30, 2023 |  |  | 443,000 |
Non-vested share units as of August 22, 2023 |  |  |
Granted |  |  | 40,000 |
Vested |  |  | - |
Forfeited |  |  | - |
Non-vested share units as of September 30, 2023 |  |  | 40,000 |
Schedule of Stock Option Activity | Stock option activity under the Company’s stock-based compensation plans is shown below:
|  | Number of Shares |  |  | Average Exercise Price per Share |  |  | Aggregate Intrinsic Value* |  |  | Weighted Average Remaining Contractual Term in Years |
Outstanding at January 1, 2023 |  |  | 2,200,044 |  |  | $ | 1.96 |  |  | $ | - |  |  |  | 4.7 |
Exercisable at January 1, 2023 |  |  | 549,958 |  |  |  | 1.96 |  |  | $ | - |  |  |  | 4.7 |
Granted |  |  | 2,284,000 |  |  |  | 0.97 |  |  |  | - |  |  |  | 5.8 |
Exercised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Forfeited |  |  | 20,000 |  |  |  | 0.98 |  |  |  | - |  |  |  | 5.8 |
Outstanding at September 30, 2023 |  |  | 4,464,044 |  |  | $ | 1.46 |  |  | $ | - |  |  |  | 4.5 |
Exercisable at September 30, 2023 |  |  | 549,958 |  |  | $ | 1.96 |  |  | $ | - |  |  |  | 4.0 |
* | The intrinsic value of the stock options at September 30, 2023 is the amount by which the market value of the Company’s common stock of $0.82 as of September 30, 2023 exceed the average exercise price of the option. As of September 30, 2023, the intrinsic value of the outstanding and exercisable stock options was $nil.

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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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