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Equity Compensation Plans (Tables)
9 Months Ended
Sep. 30, 2023
Equity Compensation Plans [Abstract]  
Schedule of Stock-Based Compensation Expense Stock-based compensation expense include the following components:
   Three Months ended
September 30,
   Nine Months ended
September 30,
 
   2023   2022   2023   2022 
Stock options  $242,180   $238,233   $1,047,323   $762,340 
Performance share units   229,639    149,065    289,044    187,663 
Total stock-based compensation  $471,819   $387,298   $1,336,367   $950,003 
Schedule of Measured the Fair Value of Each Stock Option Award The fair value of stock options is recognized as compensation expense using the straight-line method over the vesting period. The Company measured the fair value of each stock option award on the date of grant using the Black-Scholes-Merton (BSM) pricing model with the following weighted average assumptions:
   Nine Months
ended
September 30,
2023
   Nine Months
ended
September 30,
2022
 
Exercise price  $0.8   $1.5 
Expected life    6 years    

 6 years

 
Expected volatility   95%   69%
Dividend yield   0%   0%
Risk-free interest rate   3.59%   2.12%
Schedule of Stock Option Activity in stock options for the nine month periods ended September 30, 2023 and September 30, 2022 was as follows:
   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 
Granted   1,596,567    0.80         75 
Exercised   (1,500)   0.79         345 
Forfeited   (1,105,900)   1.91         - 
Outstanding at September, 2023   4,408,395   $1.56    7.56   $561,402 
Vested and exercisable at September 30, 2023   3,183,408   $1.74    7.12   $328,031 
                     
Outstanding at January 1, 2022   3,080,904   $2.06        $1,923,642 
Granted   1,094,002    1.50         
-
 
Exercised   (308,526)   0.85         480,029 
Forfeited   (7,333)   2.22         2,273 
Expired   (25,000)   1.70         
-
 
Outstanding at September 30, 2022   3,834,047   $2.00    6.96   $1,219,962 
Vested and exercisable at September 30, 2022   2,694,862   $2.10    6.48   $928,330 
Schedule of Activity in Performance Share Units Activity in performance share units for the nine months ended September 30, 2023 and September 30, 2022 was as follows:
   Number of
performance
share units
   Weighted
average
grant date
fair value
 
Non- vested at January 1, 2023   790,327   $1.53 
Granted   1,250,000    0.78 
Forfeited/ unearned   (790,327)   1.53 
Vested   -    - 
Non- vested at September 30, 2023   1,250,000   $0.78 
Non- vested at January 1, 2022   -   $- 
Granted   790,327    1.53 
Forfeited/ unearned   -    - 
Vested   -    - 
Non- vested at September 30, 2022   790,327   $1.53