XML 40 R31.htm IDEA: XBRL DOCUMENT v3.23.1
Equity Compensation Plans (Tables)
3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of stock-based compensation expense
   Three Months Ended
March 31,
 
   2023   2022 
Stock options  $420,748   $291,283 
Performance share units (“PSU”)   
-
    13,946 
Total stock-based compensation  $420,748   $305,229 

 

Schedule of measured the fair value of each stock option award on the date of grant using the black-scholes-merton
   Three Months
ended
March 31,
2023
   Three Months
ended
March 31,
2022
 
Exercise price  $
        -
   $1.54 
Expected life   
-
    6 years  
Expected volatility   
-
    67%
Dividend yield   
-
    0%
Risk-free interest rate   
-
    1.95%

 

Schedule of stock option
   Number of
options
   Weighted
average
exercise
price
   Weighted
average
contractual
term
(years)
   Aggregate
intrinsic
value
 
Outstanding at January 1, 2023   3,919,228   $1.97        $52,223 
Exercised   (1,500)   0.79         345 
Outstanding at March 31, 2023   3,917,728   $1.97    6.54   $3,016 
Vested and exercisable at March 31, 2023   3,555,094   $1.98    6.47   $3,016 
                     
Outstanding at January 1, 2022   3,080,904   $2.06        $1,923,642 
Granted   951,944    1.54         
-
 
Exercised   (162,956)   0.84         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 

 

Schedule of activity in performance share units
   Number of
performance
share units
   Weighted
average
grant date
fair value
 
Non- vested at January 1, 2023   790,327   $1.53 
Granted   
-
    
-
 
Forfeited/ unearned   
-
    
-
 
Vested   
-
    
-
 
Non- vested at March 31, 2023   790,327   $1.53