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Stockholders' Equity (Tables)
3 Months Ended
Mar. 31, 2024
Stockholders  
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 nine months ended March 31, 2024:
Expected volatility   151.5%
Expected life of option (in years)   5.2 – 6.2 
Risk free interest rate   4.2%
Expected dividend yield   0.0%
Schedule of Stock Option Activity The following table summarizes stock option activity during the three months ended March 31, 2024:
       Weighted 
       Average 
   Number of   Exercise 
   Options   Price 
Stock Options:        
Outstanding at January 1, 2024   740,814   $3.32 
Granted during the period   28,000    2.78 
Cancelled/Forfeited, during the period   
-
    
-
 
Expired, during the period   (5,078)   13.49 
Outstanding at March 31, 2024   763,736   $3.23 
Exercisable at March 31, 2024   586,849   $3.56 

 

Schedule of Stock-Based Compensation Expense Stock-based compensation expense for the Company’s stock options included in the condensed consolidated statements of operations was as follows:
   Three Months Ended 
   March 31,
(unaudited)
 
   2024   2023 
Cost of revenue  $3,182   $2,215 
Sales and marketing expense   
-
    639 
Product development expense   7,716    6,873 
General and administrative expense   48,413    45,414 
Total stock compensation expense  $59,311   $55,141