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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense

The amount of stock-based compensation expense is as follows (in thousands):

 

    Year ended December 31,  
    2020     2019  
Stock options   $ 117     $ 147  
Restricted stock awards     4       15  
Total   $ 121     $ 162  
Schedule of Unrecognized Compensation Cost from Unvested Awards

As of December 31, 2020, the estimated unrecognized compensation cost from unvested awards which will be recognized ratably over the remaining vesting phase is as follows (in thousands):

 

Years ended December 31st:   Unvested
stock options		     Unvested
restricted
stock awards		     Total
unrecognized
compensation
expense		  
2021   $ 82     $ 1     $ 83  
2022     21               21  
2023     4               4  
2024     -       -       -  
    $ 107     $ 1     $ 108  
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 (all share amounts have been adjusted to reflect the 1-for-4 reverse split that occurred in December 2020):

 

    Year ended December 31,  
    2020     2019  
Number of options awarded to purchase common shares     7,000       2,500  
Risk-free interest rate     1.19 %     1.50 %
Expected volatility     94.7 %     100.3 %
Assumed dividend yield     N/A       N/A  
Expected life of options from the date of grant     9.8 years       9.8 years  

 
Schedule of Stock Option Activity

Stock option activity during 2020 and 2019 is summarized as follows (all share and dollar amounts have been adjusted to reflect the 1-for-4 reverse split that occurred in December 2020):

 

    Number of     Weighted avg.
exercise price		     Weighted avg.
grant date fair		     Weighted avg.
remaining
contractual life		     Aggregate  
    awards     per share     value per share     (in years)     intrinsic value  
                               
Outstanding, January 1, 2019     108,613     $ 5.96     $ 5.88       6.91     $ 920,156  
Granted     2,500       6.84       6.12       9.80          
Exercised     -       -       -       -          
Expired/Forfeited     (1,832 )     7.44       7.32       7.55          
Outstanding, December 31, 2019     109,281     $ 5.84     $ 6.12       5.97     $ 601,668  
Granted     7,000       7.91       6.89       9.32          
Exercised     (5,000 )     0.96       0.96       0.50          
Expired/Forfeited     (6,195 )     7.36       7.26       6.98          
Outstanding, December 31, 2020     105,086     $ 6.25     $ 6.06       5.38     $ 814,090  
Exercisable, December 31, 2020                                     82,972  
Unvested, December 31, 2020                                     22,114  
Schedule of Restricted Stock Activity Under Equity Incentive Plan

The following table summarizes activity for restricted stock awards for the fiscal years presented (all share and dollar amounts have been adjusted to reflect the 1-for-4 reverse split that occurred in December 2020):

 

          Weighted avg.  
    Number of     grant date  
    options     fair value  
Non-vested restricted shares, January 1, 2019     7,500     $ 9.52  
Granted     -       -  
Vested     (6,250 )     9.40  
Forfeited     -       -  
Non-vested restricted shares, December 31, 2019     1,250     $ 10.20  
Granted     -       -  
Vested     -       -  
Forfeited     -       -  
Non-vested restricted shares, December 31, 2020     1,250     $ 10.20