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Stockholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2023
Stockholders' Equity [Abstract] |
Schedule of Black-Scholes Pricing Model to Estimate the Fair Value | The following table summarizes the assumptions used in the Black-Scholes pricing model to estimate the fair value of the options granted during the years ended:
|  | December 31, |
|  | 2023 |  |  | 2022 |
Expected volatility |  |  | 155 – 161 | % |  |  | 173 – 182 | %
Expected life of option |  |  | 5.2 – 6.2 |  |  |  | 5.2 – 6.2 |
Risk free interest rate |  |  | 4.26 | % |  |  | 2.53 | %
Expected dividend yield |  |  | 0.0 | % |  |  | 0.0 | %
Schedule of Stock Option Activity | The following tables summarize stock option activity during the year ended December 31, 2023:
|  |  |  |  | Weighted |
|  |  |  |  | Average |
|  | Number of |  |  | Exercise |
|  | Options |  |  | Price |
Outstanding at January 1, 2023 |  |  | 622,074 |  |  | $ | 3.71 |
Granted |  |  | 149,000 |  |  | $ | 1.89 |
Exercised during period |  |  | - |  |  |  | - |
Forfeited or canceled, during the period |  |  | (26,270 | ) |  | $ | 1.77 |
Expired, during the period |  |  | (3,990 | ) |  | $ | 21.60 |
Outstanding at December 31, 2023 |  |  | 740,814 |  |  | $ | 3.32 |
Exercisable at December 31, 2023 |  |  | 550,164 |  |  | $ | 3.72 |
Schedule of Stock-Based Compensation Expense | Stock-based compensation expense for the Company’s stock options included in the consolidated statements of operations was as follows:
|  | Years Ended |
|  | December 31, |
|  | 2023 |  |  | 2022 |
Cost of revenue |  | $ | 11,750 |  |  | $ | 19,500 |
Sales and marketing expense |  |  | 2,004 |  |  |  | 2,056 |
Product development expense |  |  | 29,946 |  |  |  | 24,748 |
General and administrative expense |  |  | 191,293 |  |  |  | 287,521 |
Total stock-based compensation expense |  | $ | 234,993 |  |  | $ | 333,825 |

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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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -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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