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Equity Compensation Plans (Tables) | 3 Months Ended
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Mar. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Schedule of stock-based compensation expense |
|  | Three months ended March 31, 2022 |  |  | Three months ended March 31, 2021 |
Stock options |  | $ | 291,283 |  |  | $ | 380,263 |
Performance share units |  |  | 13,946 |  |  |  | - |
Total stock-based compensation |  |  | 305,229 |  |  |  | 380,263 |
Schedule of measured fair value of each option award grant using the black-scholes-merton (BSM) pricing model |
|  | Three months ended March 31, 2022 |  |  | Three months ended March 31, 2021 |
Exercise price |  | $ | 1.53 to 1.71 |  |  | $ | 2.38 to 2.76 |
Expected life |  |  | 6 years |  |  |  | 5 years |
Expected volatility |  |  | 66.7 | % |  |  | 93 | %
Dividend yield |  |  | 0 | % |  |  | 0 | %
Risk-free interest rate |  |  | 1.8 to 2.4 | % |  |  | 0.31 to 0.93 | %
Schedule of stock option |
|  | Number of options |  |  | Weighted average exercise price |  |  | Weighted average contractual term (years) |  |  | Aggregate intrinsic value |
Outstanding at January 1, 2022 |  |  | 3,080,904 |  |  | $ | 2.06 |  |  |  |  |  |  | $ | 1,923,642 |
Granted |  |  | 951,944 |  |  |  | 1.54 |  |  |  |  |  |  |  | - |
Exercised |  |  | (162,956 | ) |  |  | .84 |  |  |  |  |  |  |  | 204,030 |
Forfeited |  |  | (7,333 | ) |  |  | 2.22 |  |  |  |  |  |  |  | 2,273 |
Expired |  |  | (25,000 | ) |  |  | 1.70 |  |  |  |  |  |  |  | - |
Outstanding at March 31, 2022 |  |  | 3,837,559 |  |  | $ | 1.98 |  |  |  | 7.34 |  |  | $ | 925,306 |
Vested and exercisable at March 31, 2022 |  |  | 2,508,822 |  |  | $ | 1.25 |  |  |  | 6.58 |  |  | $ | 731,891 |
Outstanding at January 1, 2021 |  |  | 2,595,700 |  |  | $ | 1.92 |  |  |  |  |  |  | $ | - |
Granted |  |  | 543,397 |  |  |  | 2.48 |  |  |  |  |  |  |  | - |
Exercised |  |  | (16,000 | ) |  |  | .81 |  |  |  |  |  |  |  | 40,010 |
Forfeited |  |  | (4,667 | ) |  |  | .82 |  |  |  |  |  |  |  | 9,564 |
Outstanding at March 31, 2021 |  |  | 3,118,730 |  |  | $ | 2.03 |  |  |  | 7.39 |  |  | $ | 2,681,180 |
Vested and exercisable at March 31, 2021 |  |  | 1,819,541 |  |  | $ | 1.95 |  |  |  | 7.68 |  |  | $ | 2,029,793 |
Schedule of activity in performance share units |
|  | Number of performance share units |  |  | Weighted average grant date fair value |
Non- vested at January 1, 2022 |  | - |  |  | - |
Granted |  |  | 790,327 |  |  | $ | 1.53 |
Forfeited/ unearned |  |  | - |  |  |  | - |
Vested |  |  | - |  |  |  | - |
Non- vested at March 31, 2022 |  |  | 790,327 |  |  | $ | 1.53 |

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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + 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 (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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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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