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Stock-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2022
Share-Based Payment Arrangement [Abstract] |
Summary of Option Activity | A summary of option activity under the Plan during the three and nine months ended September 30, 2022, is as follows: Summary of Option Activity
|  | Shares |  |  | Weighted-Average Exercise Price per Share |  |  | Weighted-Average Remaining Contractual Term |  |  | Aggregate Intrinsic Value |
Outstanding at December 31, 2021 |  |  | 523,285 |  |  | $ | 6.00 |  |  |  | 9.94 |  |  |  |  |
Grants |  |  | 342,999 |  |  | $ | 1.82 |  |  |  | 9.91 |  |  |  |  |
Exercised |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Forfeitures or expirations |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding at March 31, 2022 |  |  | 866,284 |  |  | $ | 4.35 |  |  |  | 9.78 |  |  | $ | 182,900 |
Grants |  |  | 17,517 |  |  | $ | 1.46 |  |  |  | 7.78 |  |  |  |  |
Exercised |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Forfeitures or expirations |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding at June 30, 2022 |  |  | 883,801 |  |  | $ | 4.29 |  |  |  | 9.49 |  |  | $ | 24,800 |
Grants |  |  | 27,032 |  |  | $ | 1.29 |  |  |  | 9.95 |  |  |  |  |
Exercised |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Forfeitures or expirations |  |  | (29,721 | ) |  | $ | 3.82 |  |  |  |  |  |  |  |  |
Outstanding at September 30, 2022 |  |  | 881,112 |  |  | $ | 4.21 |  |  |  | 9.26 |  |  | $ | - |
Options exercisable as of September 30, 2022 |  |  | 26,049 |  |  |  |  |  |  |  |  |  |  |  |  |
Options unvested as of September 30, 2022 |  |  | 855,063 |  |  |  |  |  |  |  |  |  |  |  |  |
Schedule of Fair Value Assumption | The Company’s stock options issued qualify for equity accounting treatment under ASC 718 and are measured at fair value as of their grant date accordingly. The fair value of the options were estimated using a Black-Scholes model. The assumptions that the Company used to estimate the grant-date fair value of stock options granted to employees during the nine-month period ending September 30, 2022, were as follows, shown on a weighted average basis: Schedule of Fair Value Assumption
Risk-free interest rate |  |  | 1.71 | %
Weighted-average expected term (in years) |  |  | 6.02 |
Expected volatility |  |  | 1.12 |
Expected dividend yield |  |  | 0 | %

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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