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Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Fair Value of Each Option Award Estimated Assumption

For stock options requiring an assessment of value during the three months ended March 31, 2021, the fair value of each stock option award was estimated using the Black-Scholes option-pricing model with the following assumptions:

 

      
Risk-free interest rate   0.80%
Expected dividend yield   0%
Expected volatility   201.47%
Expected life   2.5 years 
Summary of Stock-based Compensation Costs

A summary of stock-based compensation costs for the three months ended March 31, 2022 and 2021 is as follows:

 

   2022   2021 
  

Three Months Ended

March 31,

 
   2022   2021 
         
Related parties  $339,672   $656,032 
Non-related parties   —    — 
Total stock-based compensation costs  $339,672   $656,032 
Summary of Stock Option Activity Including Options Form of Warrants

A summary of stock option activity, including options issued in the form of warrants, during the three months ended March 31, 2022 is presented below.

 

  

Number of

Shares

  

Weighted

Average

Exercise

Price

  

Weighted

Average
Remaining Contractual

Life (in Years)

 
             
Stock options outstanding at December 31, 2021   2,666,667   $3.738      
Granted   —    —      
Exercised   —    —      
Expired   —    —      
Stock options outstanding at March 31, 2022   2,666,667   $3.738    3.17 
                
Stock options exercisable at March 31, 2022   2,097,917   $3.737    2.94 
Schedule of Exercise Prices of Common Stock Options Outstanding and Exercisable Including Options Form of Warrants

The exercise prices of common stock options outstanding and exercisable, including options issued in the form of warrants, at March 31, 2022 are as follows:

 

Exercise

Prices

  

Options

Outstanding
(Shares)

  

Options

Exercisable
(Shares)

 
          
$0.900    33,333    33,333 
$1.680    66,667    66,667 
$2.060    200,000    200,000 
$2.800    250,000    171,875 
$3.000    666,667    666,667 
$3.030    500,000    187,500 
$3.200    250,000    171,875 
$3.210    200,000    200,000 
$6.000    166,667    166,667 
$6.600    50,000    50,000 
$7.140    200,000    100,000 
$12.000    83,333    83,333 
      2,666,667    2,097,917