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Equity Incentive Plan (Tables)
12 Months Ended
Dec. 31, 2021
Summary of company's stock options activity and related information

A summary of the Company’s stock option activity and related information is as follows:

2021

2020

    

    

    

Weighted

    

    

    

Weighted

Weighted

Average 

Weighted

Average 

Average 

Remaining 

Average 

Remaining 

Stock

Exercise 

Life 

Stock

Exercise 

Life 

Options

Price

(in years)

Options

Price

(in years)

Outstanding at January 1

 

391,650

$

5.70

 

8.1

 

169,980

$

8.13

 

9.1

Granted

 

131,821

$

11.42

 

  

 

226,691

$

4.84

 

  

Exercised

 

(27,934)

$

3.27

 

  

 

 

  

 

  

Forfeited / Expired

 

(2,651)

$

8.04

 

  

 

(5,021)

$

49.39

 

  

Outstanding at December 31

 

492,886

$

7.35

 

7.6

 

391,650

$

5.70

 

8.1

Exercisable at December 31

 

378,470

$

6.17

 

7.1

 

364,567

$

5.91

 

8.0

Schedule of additional information about stock options outstanding

The following table sets forth additional information about stock options outstanding at December 31, 2021:

    

    

Weighted

    

    

Average

Weighted

Remaining

Average

Options

Life

Exercise

Options

Range of Exercise Prices

Outstanding

(in years)

Price

Exercisable

$1.99 – $2.85

 

184,557

 

6.5

$

2.51

 

170,641

$4.25 – $8.04

 

161,770

 

8.6

$

7.09

 

161,270

$10.41 – $17.25

 

142,206

 

8.0

$

12.67

 

42,206

$31.50 – $79.40

 

4,353

 

4.6

$

48.50

 

4,353

 

492,886

 

  

 

  

 

378,470

Employee Stock Option [Member]  
Schedule of assumptions used in the black-scholes model

The assumptions used in the Black-Scholes model are as follows:

For the year ended December 31, 

 

    

2021

    

2020

 

Average risk-free interest rate

 

0.97

%  

0.83

%

Expected dividend yield

 

%  

%

Expected life

 

5.31 to 6.00 years

 

5.00 to 6.25 years

Expected volatility

 

90

%  

90

%