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Stockholders’ Equity (Tables) | 6 Months Ended
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Jun. 30, 2021
Equity [Abstract] |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs | Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Research and development |  | $ | 69,483 |  |  | $ | 199,777 |  |  | $ | 136,369 |  |  | $ | 334,441 |
General and administrative |  |  | 77,264 |  |  |  | 265,281 |  |  |  | 157,944 |  |  |  | 452,530 |
Allocated Share-based Compensation Expense |  | $ | 146,747 |  |  | $ | 465,058 |  |  | $ | 294,313 |  |  | $ | 786,971 |
Schedule of Key Assumption of Fair Value of Stock Options Granted | Schedule of Key Assumption of Fair Value of Stock Options Granted
|  | 2021 |  |  | 2020 |
Expected term |  |  | 5.70 years |  |  |  | 5.81 years |
Risk-free interest rate |  |  | 0.52 | % |  |  | 1.33 | %
Expected dividend yield |  |  | — |  |  |  | — |
Expected volatility |  |  | 95.52 | % |  |  | 99.52 | %
Schedule of Stock Option Activity | A summary of stock option activity is as follows: Schedule of Stock Option Activity
|  | Outstanding stock options |
|  | Number of shares |  |  | Weighted average exercise price |
Balance at December 31, 2020 |  |  | 3,564,458 |  |  | $ | 3.36 |
Options granted |  |  | 376,000 |  |  |  | 1.44 |
Options exercised |  |  | (4,584 | ) |  |  | 1.46 |
Options forfeited |  |  | - |  |  |  | - |
Options cancelled |  |  | (20,084 | ) |  |  | 6.45 |
Balance at June 30, 2021 |  |  | 3,915,790 |  |  |  | 3.16 |
Options exercisable at June 30, 2021 |  |  | 2,528,729 |  |  |  | 4.24 |
Schedule of Share-based Compensation of Stock Options Outstanding and Exercisable | The following table summarizes information about stock options outstanding and exercisable at June 30, 2021: Schedule of Share-based Compensation of Stock Options Outstanding and Exercisable
Options outstanding |  | Options exercisable
Number outstanding |  | Weighted average remaining contractual life (Years) |  |  | Weighted average exercise price |  |  | Aggregate intrinsic value |  |  | Number exerciseable |  | Weighted average remaining contractual life (Years) |  |  | Weighted average exercise price |  |  | Aggregate intrinsic value |
3,915,790 |  |  | 6.39 |  |  | $ | 3.16 |  |  | $ | 636,639 |  |  | 2,528,729 |  |  | 4.84 |  |  | $ | 4.24 |  |  | $ | 311,190 |
Schedule of Fair Value of Warrants | Schedule of Fair Value of Warrants
|  | June 30, 2021 |  |  | December 31, 2020 |
Expected life in years |  |  | 3.38 |  |  |  | 3.88 |
Risk-free interest rate |  |  | 0.46 | % |  |  | 0.27 | %
Dividend yield |  |  | — |  |  |  | — |
Volatility |  |  | 72.62 | % |  |  | 88.46 | %
Stock price |  | $ | 1.40 |  |  | $ | 1.36 |
Schedule of Reconciliation of Warrant Liability | Schedule of Reconciliation of Warrant Liability
|  | Warrant Liability |
Balance at December 31, 2020 |  | $ | 1,170,051 |
Settlement of liability on warrant exercise |  |  | (18,365 | )
Change in fair value of common stock warrants |  |  | (26,257 | )
Balance at June 30, 2021 |  | $ | 1,125,429 |
Schedule of Number of Warrants Outstanding and the Weighted Average Exercise Price | The following table summarizes the number of common stock warrants outstanding and the weighted average exercise price: Schedule of Number of Warrants Outstanding and the Weighted Average Exercise Price
|  | Warrants |  |  | Weighted Average Exercise Price |
Outstanding at December 31, 2020 |  |  | 1,944,366 |  |  | $ | 0.51 |
Issued |  |  | - |  |  |  | - |
Exercised |  |  | (10,000 | ) |  |  | 0.50 |
Expired |  |  | - |  |  |  | - |
Cancelled |  |  | - |  |  |  | - |
Forfeited |  |  | - |  |  |  | - |
Balance at June 30, 2021 |  |  | 1,934,366 |  |  | $ | 0.51 |
The following table summarizes information about common stock warrants outstanding at June 30, 2021:
Warrants outstanding
Number exercisable |  | Weighted average remaining contractual life (Years) |  |  | Weighted average exercise price |  |  | Aggregate intrinsic value |
1,934,366 |  |  | 3.50 |  |  | $ | 0.51 |  |  | $ | 1,715,719 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + 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 (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=122041274&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 + 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 http://asc.fasb.org/extlink&oid=120381028&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 http://asc.fasb.org/extlink&oid=120381028&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 http://asc.fasb.org/extlink&oid=120381028&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 http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 + Details
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- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for exercisable or convertible options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + 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 (e)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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