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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 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 years ended December 31, 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           
Exercised   (29,976)   5.07           
Forfeited   (4,000)   4.63         - 
Outstanding at December 31, 2024   374,411   $6.22    7 years   $- 
                     
Exercisable at December 31, 2024   284,912   $6.06    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 December 31, 2023   357,887   $5.69    8 years   $- 
                     
Exercisable at December 31, 2023   186,594   $5.60    7 years   $- 
Schedule of Stock Options Grant

The following represent grants of stock options, including the fair value recognized or to be recognized over the 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 
April 14, 2022   220,587    6.08   April 14, 2025   1,152,470 
August 16, 2024   36,000    8.78   August 16, 2024   241,735 
September 4, 2024   14,500    10.12   September 4, 2027   118,347 

 

  (1) Represents incremental fair value of replacement shares compared to canceled shares.