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Stock-Based Compensation | 12 Months Ended
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Dec. 31, 2021
Share-based Payment Arrangement [Abstract] |
Stock-Based Compensation | 14. Stock-Based Compensation From time to time, we issue stock options and restricted stock as compensation for services rendered by our directors and employees. Restricted Stock On February 15, 2021 and January 2, 2020, we issued 12,207 shares and 16,429 shares, respectively, of restricted common stock to our directors as part of their annual compensation plan. The grants of restricted common stock were made outside the 2015 Plan and were not subject to any vesting conditions. Stock compensation of $57,500 was recorded for the years ended December 31, 2021 and 2020. Stock Options We did not make any stock option grants during 2021. The weighted-average grant date fair value of options granted during 2020 was $3.30. Stock-based compensation for options was $92,253 and $58,770, during the years ended December 31, 2021 and 2020, respectively. A summary of stock option activity during the years ended December 31, 2021 and 2020 is as follows: Schedule of Stock Option Activity
|  |  |  |  |  |  |  | Weighted- |  |  |  |
|  |  |  |  | Weighted- |  |  | Average |  |  |  |
|  | Shares |  |  | Average |  |  | Remaining |  |  | Aggregate |
|  | Under |  |  | Exercise |  |  | Contractual |  |  | Intrinsic |
|  | Option |  |  | Price |  |  | Life |  |  | Value |
Outstanding at January 1, 2021 |  |  | 145,360 |  |  | $ | 5.61 |  |  |  | 9 years |  |  | $ | 19,200 |
Granted |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Forfeited and expired |  |  | (500 | ) |  |  | 6.50 |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2021 |  |  | 144,860 |  |  | $ | 5.61 |  |  |  | 8 years |  |  | $ | 19,200 |
Exercisable at December 31, 2021 |  |  | 66,060 |  |  | $ | 7.35 |  |  |  | 8 years |  |  | $ | 19,200 |
|  |  |  |  |  |  |  | Weighted- |  |  |  |
|  |  |  |  | Weighted- |  |  | Average |  |  |  |
|  | Shares |  |  | Average |  |  | Remaining |  |  | Aggregate |
|  | Under |  |  | Exercise |  |  | Contractual |  |  | Intrinsic |
|  | Option |  |  | Price |  |  | Life |  |  | Value |
Outstanding at January 1, 2020 |  |  | 46,860 |  |  | $ | 9.02 |  |  |  | 9 years |  |  |  | 19,200 |
Granted |  |  | 99,000 |  |  |  | 4.00 |  |  |  |  |  |  |  |  |
Forfeited and expired |  |  | (500 | ) |  |  | 6.50 |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2020 |  |  | 145,360 |  |  | $ | 5.61 |  |  |  | 9 years |  |  | $ | 19,200 |
Exercisable at December 31, 2020 |  |  | 39,160 |  |  | $ | 9.51 |  |  |  | 8 years |  |  | $ | 19,200 |
As of December 31, 2021 and 2020, there was $230,620 and $322,874, respectively, of total unrecognized compensation costs related to stock options granted under our stock option agreements. The unrecognized compensation cost is expected to be recognized over a weighted-average period of three years. The total fair value of stock options that vested during the years ended December 31, 2021, and 2020 was $91,913 and $16,650, respectively. Issues of Stock-Based Compensation The following represent grants of stock options, including the fair value recognized or to be recognized over the requisite service period: Schedule of Grants of Stock Options Over Requisite Service Period
Grant date |  | Shares granted (canceled) |  |  | Exercise price |  |  | Date fully vested |  |  | Fair value |
February 10, 2016 |  |  | 4,200 |  |  | $ | 48.00 |  |  |  | February 10, 2020 |  |  | $ | 174,748 |
December 6, 2016 |  |  | 2,000 |  |  |  | 38.00 |  |  |  | December 6, 2020 |  |  |  | 63,937 |
September 25, 2017 |  |  | 15,000 |  |  |  | 15.00 |  |  |  | September 25, 2019 |  |  |  | 194,149 |
September 25, 2017 |  |  | 10,000 |  |  |  | 19.00 |  |  |  | September 25, 2019 |  |  |  | 126,862 |
January 30, 2019 |  |  | 250 |  |  |  | 45.00 |  |  |  | January 30, 2019 |  |  |  | 885 |
March 11, 2019 |  |  | (33,200 | ) |  |  | - |  |  |  | - |  |  |  | - |
March 11, 2019 |  |  | 33,200 |  |  |  | 6.50 |  |  |  | December 6, 2020 |  |  |  | 24,898 | (1)
March 11, 2019 |  |  | 10,100 |  |  |  | 6.50 |  |  |  | March 11, 2023 |  |  |  | 44,591 |
September 2, 2020 |  |  | 99,000 |  |  |  | 4.00 |  |  |  | September 2, 2024 |  |  |  | 327,181 |
| (1) | Represents incremental fair value of replacement shares compared to canceled shares.
The weighted average estimated values of director and employee stock option grants, as well as the weighted average assumptions that were used in calculating such values during the years ended December 31, 2021 and 2020, were based on estimates at the date of grant as follows: Schedule of Estimated Values of Stock Option Grants Valuation Assumptions
|  | April 30, |  |  | January 1, |  |  | February 10, |
|  | 2015 Grant |  |  | 2016 Grant |  |  | 2016 Grant |
Risk-free interest rate |  |  | 1.43 | % |  |  | 1.76 | % |  |  | 1.15 | %
Weighted average expected term |  |  | 5 years |  |  |  | 5 years |  |  |  | 5 years |
Expected volatility |  |  | 143.10 | % |  |  | 134.18 | % |  |  | 132.97 | %
Expected dividend yield |  |  | 0.00 | % |  |  | 0.00 | % |  |  | 0.00 | %
|  | December 6, |  |  | September 25, |  |  | January 30, |
|  | 2016 Grant |  |  | 2017 Grant |  |  | 2019 Grant |
Risk-free interest rate |  |  | 1.84 | % |  |  | 1.85 | % |  |  | 2.54 | %
Weighted average expected term |  |  | 5 years |  |  |  | 5 years |  |  |  | 5 years |
Expected volatility |  |  | 123.82 | % |  |  | 130.79 | % |  |  | 115.80 | %
Expected dividend yield |  |  | 0.00 | % |  |  | 0.00 | % |  |  | 0.00 | %
|  | March 11, |  |  | September 2, |
|  | 2019 Grant |  |  | 2020 Grant |
Risk-free interest rate |  |  | 2.44 | % |  |  | 0.26 | %
Weighted average expected term |  |  | 5 years |  |  |  | 5 years |
Expected volatility |  |  | 116.46 | % |  |  | 121.33 | %
Expected dividend yield |  |  | 0.00 | % |  |  | 0.00 | %

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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