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Stockholders’ Deficit (Tables)
9 Months Ended
Sep. 30, 2021
Equity [Abstract]  
Schedule of Fair Value of The Warrants

Fair value of the warrants was determined using a Black-Scholes option pricing model with the following inputs:

 

Expected term (years)   3 years 
Expected volatility   118%
Expected dividends   0%
Risk free interest rate   0.53%
Schedule of Stock Option Transactions

Stock option transactions under the Company’s Plan for the nine months ended September 30, 2021 and the year ended December 31, 2020 are summarized as follows:

 

           Weighted       Weighted 
           Average       Average 
       Weighted   Remaining   Aggregate   Grant 
   Number of   Average   Contractual   Intrinsic   Date 
Stock Options  Options   Exercise Price   Term (Years)   Value   Fair Value 
Outstanding - December 31, 2019   -   $-                       0.00   $-   $- 
Exercisable - December 31, 2019   -   $-    0.00   $-   $- 
Vested and Exercisable - December 31, 2020   -   $-    0.00   $-   $- 
Unvested and non-exercisable - December 31, 2020   -   $-    0   $-   $- 
Granted   17,004   $16.00    7.00   $-   $8.75 
Exercised   -   $-        $-      
Cancelled/Forfeited   -   $-        $-      
Outstanding - December 31, 2020   17,004   $16.00    6.16   $-   $- 
Vested and Exercisable - December 31, 2020   -   $-    0.00   $-   $- 
Unvested and non-exercisable - December 31, 2020   17,004   $16.00    6.16   $-   $- 
                          
Outstanding - December 31, 2020   17,004   $16.00    6.16   $-   $- 
Vested and Exercisable - December 31, 2020   -   $-    0.00   $-   $- 
Unvested and non-exercisable - December 31, 2020   17,004   $16.00    6.16   $-   $- 
Granted   -    -             $- 
Exercised   -    -                
Cancelled/Forfeited   -    -                
Outstanding - September 30, 2021   17,004   $16.00    5.42   $-   $- 
Vested and Exercisable - September 30, 2021   3,401   $16.00    5.42   $-   $- 
Unvested and non-exercisable - September 30, 2021   13,603   $16.00    5.42   $-   $- 

 

Schedule of Stock-based Compensation

Compensation expense recorded for stock-based compensation is as follows for the nine months ended September 30, 2021 and 2020, respectively:

 

Nine Months Ended 
September 30, 2021   September 30, 2020 
        
$27,880   $21,685 
Schedule of Unvested Options Not Yet Recognized

As of September 30, 2021, compensation cost related to the unvested options not yet recognized was as follows:

 

Compensation expense  $89,837 
      
Weighted average period in which compensation will vest (years)   2.42 
Schedule of Warrants Activity

Warrant activity for the Nine Months Ended September 30, 2021 and the Year Ended December 31, 2020 are summarized as follows:

 

            Weighted     
            Average     
        Weighted   Remaining   Aggregate 
   Number of    Average   Contractual   Intrinsic 
Warrants  Warrants    Exercise Price   Term (Years)   Value 
Outstanding and exercisable - December 31, 2019   136,993    $35.50                    1.98   $    - 
Exercisable    -    -    -    - 
Granted   62,325    $26.50    -    - 
Exercised   -     -    -    - 
Cancelled/Forfeited   (5,000)   $40.00    -    - 
Outstanding - December 31, 2020   194,317    $32.50    1.52   $- 
Exercisable - December 31, 2020   194,317    $32.50    1.52   $- 
                      
Outstanding - December 31, 2020   194,317    $32.50    1.52   $- 
Exercisable - December 31, 2020   194,317    $32.50    1.52   $- 
Granted   326,075    $8.13    -    - 
Exercised   (2,133)    12.50    -    - 
Cancelled/Forfeited   (44,650)   $23.49    -    - 
Outstanding - September 30, 2021   473,609    $16.68    3.21   $- 
Exercisable - September 30, 2021   473,609    $16.68    3.21   $-