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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Estimated Values of Stock Option Grants Valuation Assumptions

  

Grant Date

August 16, 2024

  

Grant Date

September 4, 2024

 
Risk-free interest rate   3.77%   3.61%
Weighted average expected term   5 years    6 years 
Expected volatility   100.97%   101.00%
Expected dividend yield   0.00%   0.00%

Schedule of Stock Options Activity

A summary of stock option activity during the nine months ended September 30, 2024 and 2023 is as follows:

 

           Weighted-     
       Weighted-   Average     
       Average   Remaining   Aggregate 
   Shares   Exercise   Contractual   Intrinsic 
   Under Option   Price   Life   Value 
Outstanding at January 1, 2024   357,887   $5.69    8 years   $- 
Granted   50,500    9.16           
Forfeited   (4,000)   4.63                  - 
Outstanding at September 30, 2024   404,387   $6.14    7 years   $- 
                     
Exercisable at September 30, 2024   314,888   $5.97    7 years   $- 

 

           Weighted-     
       Weighted-   Average     
       Average   Remaining   Aggregate 
   Shares   Exercise   Contractual   Intrinsic 
   Under Option   Price   Life   Value 
Outstanding at January 1, 2023   365,447   $5.89    8 years   $19,200 
                     
Forfeited   (7,560)   15.34         (19,200)
Outstanding at September 30, 2023   357,887   $5.69    8 years   $- 
                     
Exercisable at September 30, 2023   186,594   $5.60    7 years   $-