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Stockholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2020
Equity [Abstract] |
Summary of Fair Value of Options Using Black-Sholes Option Pricing Model | The fair value of the options issued ($237,850, in the aggregate) was calculated using the Black-Sholes option pricing model, based on the criteria shown below.
Expected life (in years) |  |  | 5.5 to 8 |
Volatility (based on a comparable company) |  |  | 59.82% to 77.19 | %
Risk Free interest rate |  |  | 1.79% to 2.78 | %
Dividend yield (on common stock) |  |  | - |
The fair value of the options issued ($217,650, in the aggregate) was calculated using the Black-Sholes option pricing model, based on the criteria shown below.
Expected life (in years) |  |  | 5.5 to 8 |
Volatility (based on a comparable company) |  |  | 73.36%-75.82 | %
Risk Free interest rate |  |  | 0.30%-1.61 | %
Dividend yield (on common stock) |  |  | - |
Summary of Outstanding Stock Options Issued to Employees and Directors | The following is a summary of outstanding stock options issued to employees and directors as of December 31, 2020:
|  | Number of Options |  |  | Exercise price per share $ |  |  | Average remaining term in years |  |  | Aggregate intrinsic value at date of grant $ |
Outstanding January 1, 2019 |  |  | 7,428,014 |  |  |  | .40 - .87 |  |  |  | 5.48 |  |  |  |  |
Issued |  |  | 1,156,343 |  |  |  | .45 - .73 |  |  |  |  |  |  |  |  |
Cancelled |  |  | (1,387,333 | ) |  |  |  |  |  |  |  |  |  |  |  |
Outstanding December 31, 2019 |  |  | 7,197,024 |  |  |  | .40 - .87 |  |  |  | 4.55 |  |  |  | - |
Issued |  |  | 1,069,358 |  |  |  | .34 - .44 |  |  |  |  |  |  |  |  |
Cancelled/Expired |  |  | (625,423 | ) |  |  |  |  |  |  |  |  |  |  |  |
Outstanding December 31, 2020 |  |  | 7,640,959 |  |  |  | .34 - .87 |  |  |  | 3.48 |  |  |  |  |
Exercisable, December 31 2020 |  |  | 6,667,625 |  |  |  | .34 - .87 |  |  |  | 3.48 |  |  |  | - |

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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