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Equity Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2023
Equity Compensation Plans [Abstract]  
Schedule of Stock-Based Compensation Expense Stock-based compensation expense include the following components:
   Year Ended
December 31,
 
   2023   2022 
Stock options  $1,288,750   $997,830 
Performance share units (“PSU”)   388,958    - 
Total stock-based compensation  $1,677,708   $997,830 
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:
   Year ended
December 31,
2023
   Year ended
December 31,
2022
 
Exercise price  $0.83   $1.45 
Expected life   6 years    6 years  
Expected volatility   95%   71%
Dividend yield   0%   0%
Risk-free interest rate   3.59%   2.25%
Schedule of Stock Option Activity in stock options for the twelve months period ended December 31, 2023 and December 31, 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   1,645,619    0.83         75 
Exercised   (1,500)   0.79         345 
Forfeited   (1,110,900)   1.90         4,400 
Expired   -    -         - 
Outstanding at December 31, 2023   4,452,447   $1.57    7.34   $2,152,602 
Vested and exercisable at December 31, 2023   3,696,778   $1.65    7.10   $1,668,723 
                     
Outstanding at January 1, 2022   3,080,904   $2.06        $1,923,642 
Granted   1,179,183    1.45         - 
Exercised   (308,526)   0.85         480,029 
Forfeited   (7,333)   2.22         2,273 
Expired   (25,000)   1.70         - 
Outstanding at December 31, 2022   3,919,228   $1.97    6.78   $52,223 
Vested and exercisable at December 31, 2022   3,152,169   $2.02    6.52   $52,223 
Schedule of Activity in Performance Share Units Activity in performance share units for the twelve months ended December 31, 2023 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 December 31, 2023   1,250,000   $0.78