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Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of stock-based compensation expense

The amount of stock-based compensation expense is as follows:

  

    Three months ended September 30,     Nine months ended September 30,  
    2019     2018     2019     2018  
Stock options   $ 33,975     $ 28,445     $ 113,857     $ 64,820  
Restricted stock awards     2,697       16,773       14,613       60,419  
Total   $ 36,672     $ 45,218     $ 128,470     $ 125,239  
Schedule of estimated fair value of stock options

The Company estimated the fair value of stock options using the Black-Scholes-Merton option pricing model with the following assumptions:

  

    Nine months ended September 30,  
    2019     2018  
Number of options awarded to purchase common shares     10,000       105,750  
Risk-free interest rate     1.50%       2.6% - 2.8%  
Expected volatility     100.3%       149.3 - 154.3%  
Assumed dividend yield     N/A       N/A  
Expected life of options from the date of grant     9.8 years       9.8 years  
Schedule of unrecognized compensation cost from unvested awards

The estimated unrecognized compensation cost from unvested awards which will be recognized ratably over the remaining vesting phase is as follows:

  

Years ended December 31st:     Unvested stock options     Unvested restricted stock awards     Total unrecognized compensation expense  
2019 (remaining three months)       36,909       1,061       37,970  
2020       113,378       4,251       117,629  
2021       70,896       706       71,602  
2022       3,722       —       3,722  
      $ 224,905     $ 6,018     $ 230,923  
Schedule of stock option activity under Equity Incentive Plan

Stock option activity under our Equity Incentive Plan is summarized as follows:

  

                        Weighted avg.        
            Weighted avg.     Weighted avg.     remaining        
      Number of     exercise price     grant date fair     contractual life     Aggregate  
      awards     per share     value per share     (in years)     intrinsic value  
                                 
Outstanding, December 31, 2018       434,451     $ 1.49     $ 1.47       6.91     $ 230,039  
Granted       10,000     $ 1.53     $ 1.71       10.00     $ —  
Exercised       —     $ —     $ —       —     $ —  
Expired/Forfeited       (7,325 )   $ 1.83     $ 1.86       —     $ —  
Outstanding, September 30, 2019       437,126     $ 1.46     $ 1.49       6.23     $ 148,775  
Exercisable, September 30, 2019       256,919     $ 1.21     $ 1.22       4.43     $ 148,775  
Unvested, September 30, 2019       180,207     $ 1.81     $ 1.88       8.78     $ —  
Schedule of restricted stock activity under Equity Incentive Plan

Restricted stock activity under our Equity Incentive Plan is summarized as follows:

  

            Weighted avg.  
      Number of     grant date  
      options     fair value  
Non-vested restricted shares, December 31, 2018       30,000     $ 2.38  
Granted       —     $ —  
Vested       (25,000 )   $ 2.35  
Forfeited       —     $ —  
Non-vested restricted shares, September 30, 2019       5,000     $ 2.55