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Selected Quarterly Financial Data (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Data

    Quarter  
2019   First     Second     Third     Fourth  
Fee income   $ 418,657     $ 301,035     $ 462,869     $ 381,463  
Operating loss     (562,472 )     (952,301 )     (410,855 )     (1,274,377 )
Net loss     (803,897 )     (1,350,478 )     (397,712 )     (1,256,891 )
Basic and diluted net loss                                
per common share (1)     (0.03 )     (0.05 )     (0.01 )     (0.04 )

 

    Quarter  
2018   First     Second     Third     Fourth  
Fee income   $ 433,269     $ 324,853     $ 359,725     $ 370,795  
Operating loss     (795,172 )     (571,931 )     (403,890 )     (647,226 )
Net loss     (793,767 )     (569,891 )     (688,301 )     (634,169 )
Basic and diluted net loss                                
per common share (1)     (0.03 )     (0.02 )     (0.03 )     (0.02 )

 

(1) Since per share information is computed independently for each quarter and the full year, based on the respective average number of common shares outstanding, the sum of the quarterly per share amounts does not necessarily equal the per share amounts for the year.
   
(2) The Company incurred higher costs in the second and fourth quarter of 2019 due to $356,228 and $485,384 of stock and option compensation charges in 2019 respectively, relating to common stock and options granted to directors, employees and a consultant. In addition, during the first and second quarters of 2019 the Company incurred higher (lower) costs of $247,590 and $404,435, respectively, relating to market valuation adjustments for warrants.
   
(3) The Company incurred higher costs in the second quarter of 2018 due to $69,000 of stock option compensation charges in 2018 related to options granted to employees. In addition, during the third and fourth quarters of 2018 the Company incurred higher (lower) costs of $286,631 and ($8,587), respectively, relating to market valuation adjustments for warrants.