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Equity (Tables) | 12 Months Ended
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Dec. 31, 2023
Equity [Abstract] |
Summary of Restricted Stock Units Activity | For the year ended December 31, 2023, a summary of RSU activity is as follows: Summary of Restricted Stock Units Activity
|  | Shares |  |  | Weighted Average Grant Date Fair Value |
Outstanding as of December 31, 2022 |  |  | 1,028,960 |  |  | $ | 2.31 |
Granted |  |  | 3,227,151 |  |  |  | 0.26 |
Canceled |  |  | (173,823 | ) |  |  | 1.45 |
Vested and released |  |  | (1,028,788 | ) |  |  | 0.21 |
Outstanding as of December 31, 2023 |  |  | 3,053,500 |  |  | $ | 0.90 |
Vested as of December 31, 2023 |  |  | 2,860,898 |  |  | $ | 0.93 |
Unvested as of December 31, 2023 |  |  | 192,602 |  |  | $ | 0.49 |
For the year ended December 31, 2022, a summary of RSU activity is as follows:
|  | Shares |  |  | Weighted Average Grant Date Fair Value |
Outstanding as of December 31, 2021 |  |  | 1,147,250 |  |  | $ | 3.78 |
Granted |  |  | 749,067 |  |  |  | 0.93 |
Canceled |  |  | (271,000 | ) |  |  | 2.79 |
Vested and released |  |  | (596,357 | ) |  |  | 3.18 |
Outstanding as of December 31, 2022 |  |  | 1,028,960 |  |  | $ | 2.31 |
Vested as of December 31, 2022 |  |  | 471,484 |  |  | $ | 3.23 |
Unvested as of December 31, 2022 |  |  | 557,476 |  |  | $ | 1.53 |
Summary of Options Activity | For the year ended December 31, 2023, a summary of the options activity is as follows: Summary of Options Activity
|  | Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Fair Value |  |  | Weighted Average Remaining Contractual Term (Years) |  |  | Aggregate Intrinsic Value |
Outstanding as of December 31, 2022 |  |  | 2,561,231 |  |  | $ | 2.18 |  |  | $ | 1.19 |  |  |  | 3.33 |  |  | $ | 31,124 |
Granted |  |  | 325,000 |  |  |  | 0.32 |  |  |  | 0.15 |  |  |  | 3.02 |  |  |  | — |
Exercised |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Expired/forfeited |  |  | (380,999 | ) |  |  | 1.83 |  |  |  | 0.99 |  |  |  | — |  |  |  | — |
Outstanding as of December 31, 2023 |  |  | 2,505,232 |  |  | $ | 2.00 |  |  | $ | 1.08 |  |  |  | 1.49 |  |  | $ | 2,294 |
Exercisable as of December 31, 2023 |  |  | 2,309,199 |  |  | $ | 2.13 |  |  | $ | 1.16 |  |  |  | 1.27 |  |  | $ | 2,294 |
For the year ended December 31, 2022, a summary of the options activity is as follows:
|  | Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Fair Value |  |  | Weighted Average Remaining Contractual Term (Years) |  |  | Aggregate Intrinsic Value |
Outstanding as of December 31, 2021 |  |  | 2,541,667 |  |  | $ | 2.88 |  |  | $ | 1.57 |  |  |  | 4.27 |  |  | $ | 1,244,029 |
Granted |  |  | 512,065 |  |  |  | 0.66 |  |  |  | 0.32 |  |  |  | 3.02 |  |  |  | — |
Exercised |  |  | (185,000 | ) |  |  | 0.40 |  |  |  | 0.29 |  |  |  | — |  |  |  | — |
Expired/forfeited |  |  | (307,501 | ) |  |  | 6.47 |  |  |  | 3.46 |  |  |  | — |  |  |  | — |
Outstanding as of December 31, 2022 |  |  | 2,561,231 |  |  | $ | 2.18 |  |  | $ | 1.19 |  |  |  | 3.33 |  |  | $ | 31,124 |
Exercisable as of December 31, 2022 |  |  | 2,046,309 |  |  | $ | 2.37 |  |  | $ | 1.30 |  |  |  | 3.06 |  |  | $ | 31,124 |
Schedule of Significant Weighted Average Assumptions | For the years ended December 31, 2023 and 2022, the significant weighted average assumptions relating to the valuation of the Company’s stock options granted were as follows: Schedule of Significant Weighted Average Assumptions
|  | 2023 |  |  | 2022 |
|  | Years Ended December 31, |
|  | 2023 |  |  | 2022 |
Stock price |  | $ | 0.32 |  |  | $ | 0.66 |
Dividend yield |  |  | — | % |  |  | — | %
Expected life (years) |  |  | 3.02 |  |  |  | 3.02 |
Expected volatility |  |  | 63.64 | % |  |  | 69.49 | %
Risk-free interest rate |  |  | 4.22 | % |  |  | 3.47 | %

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