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Equity Compensation Plans (Tables)
3 Months Ended
Mar. 31, 2024
Equity Compensation Plans [Abstract]  
Schedule of Stock-Based Compensation Expense Stock-based compensation expense include the following components:
   Three Months Ended
March 31,
 
   2024   2023 
Stock options  $80,444   $420,748 
Performance share units (“PSU”)   136,681    
-
 
Total stock-based compensation  $217,125   $420,748 
Schedule of Activity in Stock Option Activity in stock options for the three months period ended March 31, 2024 and March 31, 2023 was as follows:
   Number of
options
   Weighted
average
exercise
price
   Weighted
average
contractual
term
(years)
   Aggregate
intrinsic
value
 
Outstanding at January 1, 2024   4,452,447   $1.57        $2,152,602 
Expired   (55,000)   8.00         
-
 
Outstanding at March 31, 2024   4,397,447   $1.49    7.18   $1,630,800 
Vested and exercisable at March 31, 2024   3,661,778   $1.56    6.96   $1,257,638 
                     
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 
Schedule of Activity in Performance Share Units Activity in performance share units for the three months period ended March 31, 2024 was as follows:
   Number of
performance
share units
   Weighted
average
grant date
fair value
 
Non- vested at January 1, 2024   1,250,000   $0.78 
Granted   
-
    
-
 
Forfeited/ unearned   
-
    
-
 
Vested   
-
    
-
 
Non- vested at March 31, 2024   1,250,000   $0.78 
           
Non- vested at January 1, 2023   790,327   $1.53 
Granted   
-
    
-
 
Forfeited/ unearned   
-
    
-
 
Vested   
-
    
-
 
Non- vested at March 31, 2023   790,327   $1.53