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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 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 nine months ended September 30, 2022, the fair value of each stock option award was estimated using the Black-Scholes option-pricing model with the following assumptions:

Schedule of Fair Value of Each Option Award Estimated Assumption

Risk-free interest rate			3.03	%
Expected dividend yield			0	%
Expected volatility			153.17	%
Expected life			3.5 years

For stock options requiring an assessment of value during the nine months ended September 30, 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			0.89	%
Expected dividend yield			0	%
Expected volatility			198.79	%
Expected life			3.5 to 3.6 years

Summary of Stock-based Compensation Costs

A summary of stock-based compensation costs for the three months and nine months ended September 30, 2022 and 2021 is as follows:

Summary of Stock-based Compensation Costs

		2022				2021				2022				2021
		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2022				2021				2022				2021
Related parties		$	396,883			$	347,222			$	1,160,649			$	1,854,058
Non-related parties			—				—				—				—
Total stock-based compensation costs		$	396,883			$	347,222			$	1,160,649			$	1,854,058

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 nine months ended September 30, 2022 is presented below.

Summary of Stock Option Activity Including Options Form of Warrants

		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			750,000				0.740
Exercised			—				—
Expired/Forfeited			(91,667	)			2.962
Stock options outstanding at September 30, 2022			3,325,000			$	3.083				3.23
Stock options exercisable at September 30, 2022			2,446,875			$	3.532				2.84

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 September 30, 2022 are as follows:

Schedule of Exercise Prices of Common Stock Options Outstanding and Exercisable Including Options Form of Warrants

Exercise Prices				Options Outstanding (Shares)				Options Exercisable (Shares)
$	0.740				750,000				203,125
$	0.900				33,333				33,333
$	1.680				33,333				33,333
$	2.060				200,000				200,000
$	2.800				250,000				203,125
$	3.000				666,667				666,667
$	3.030				500,000				312,500
$	3.200				250,000				203,125
$	3.210				150,000				150,000
$	6.000				166,667				166,667
$	6.600				41,667				41,667
$	7.140				200,000				150,000
$	12.000				83,333				83,333
					3,325,000				2,446,875

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Tabular disclosure of share-based payment arrangement.

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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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.

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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.

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