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Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2024
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 nine months ended June 30, 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 six months ended June 30, 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   (14,048)   10.11 
Outstanding at June 30, 2024   754,766   $3.17 
Exercisable at June 30, 2024   583,879   $3.48 

 

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   Six Months Ended 
   June 30,
(unaudited)
   March 31,
(unaudited)
 
   2024   2023   2024   2023 
Cost of revenue  $3,304   $3,151   $6,486   $5,366 
Sales and marketing expense   
-
    842    
-
    1,481 
Product development expense   7,979    7,616    15,695    14,489 
General and administrative expense   20,967    45,561    69,380    90,975 
Total stock compensation expense  $32,250   $57,170   $91,561   $112,311