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Stock-Based Compensation Expense (Tables) | 3 Months Ended
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Mar. 31, 2024
Stock-Based Compensation Expense [Abstract] |
Schedule of Stock Options Vested and Exercisable | The following table summarizes information about the Company’s stock options outstanding as well as stock options vested and exercisable as of March 31, 2024, and activity during the three month period then ended:
|  | Shares |  |  | Weighted-average exercise price |  |  | Weighted-average remaining contractual term (years) |  |  | Aggregate intrinsic value |
Outstanding as of December 31, 2023 |  |  | 17,503,253 |  |  | $ | 1.04 |  |  |  | 7.37 |  |  | $ | 42,527 |
Granted |  |  | 245,500 |  |  |  | 0.20 |  |  |  |  |  |  |  |  |
Exercised |  |  | - |  |  |  | - |  |  |  |  |  |  |  | - |
Cancelled/forfeited |  |  | (631,354 | ) |  | $ | 1.32 |  |  |  |  |  |  |  |  |
Outstanding as of March 31, 2024 |  |  | 17,117,399 |  |  | $ | 1.02 |  |  |  | 7.11 |  |  | $ | 104,727 |
Vested and expected to vest at March 31, 2024 |  |  | 17,117,399 |  |  | $ | 1.02 |  |  |  | 7.11 |  |  | $ | 104,727 |
Vested and exercisable at March 31, 2024 |  |  | 9,205,674 |  |  | $ | 0.96 |  |  |  | 5.68 |  |  | $ | 104,727 |
Schedule of Restricted Stock Units and Activity | The following table summarizes information about the Company’s RSUs as of March 31, 2024, and activity during the three months then ended:
|  | Shares |  |  | Weighted- average grant date fair value |
Unvested Shares at December 31, 2023 |  |  | 177,294 |  |  | $ | 2.80 |
RSUs granted |  |  | - |  |  |  | - |
RSUs vested |  |  | (12,228 | ) |  |  | 5.52 |
RSUs forfeited |  |  | - |  |  |  | - |
Unvested Shares at March 31, 2024 |  |  | 165,066 |  |  | $ | 2.60 |
Schedule of Weighted Average Assumptions were Used in Estimating the Grant Date Fair Values | The following weighted average assumptions were used in estimating the grant date fair values for the three months ended March 31, 2024 and 2023:
|  | March 31, |
|  | 2024 |  |  | 2023 |
Fair value of common stock |  | $ | 0.20 |  |  | $ | 1.06 |
Expected term (in years) |  |  | 6.01 |  |  |  | 6.03 |
Risk-free rate |  |  | 4.10 | % |  |  | 3.73 | %
Expected volatility |  |  | 53.06 | % |  |  | 52.50 | %
Dividend yield |  |  | 0 | % |  |  | 0 | %

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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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