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Stock Options (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Options Granted and Outstanding

A summary of options granted and outstanding is presented below.

 Schedule of Stock Options Granted and Outstanding

		2022								2021
		Options				Weighted Average Exercise Price				Options				Weighted Average Exercise Price
Outstanding at Beginning of year			1,137,479			$	5.18				792,857			$	3.64
Granted			367,500				1.63				511,764				7.00
Cancelled			(3,571	)			(4.38	)			(21,875	)			(4.38	)
Forfeited			(143,286	)		$	(3.77	)			(145,157	)		$	(2.57	)
Outstanding at end of year			1,358,122			$	4.37				1,137,479			$	5.18
Exercisable at end of year			1,132,861			$	4.59				825,847			$	5.38

Schedule of Information About Options Outstanding

The following table summarizes information about options outstanding at December 31, 2022:

 Schedule of Information About Options Outstanding

Exercise Prices				Options Outstanding				Aggregate Intrinsic Value				Weighted Average Remaining Contractual Life				Options Exercisable				Aggregate Intrinsic Value on Exercisable Shares
$	1.21				307,500				-				4.42				168,551			$	-
$	1.39				10,000				-				4.67				10,000			$	-
$	1.75				68,571				-				.25				68,571			$	-
$	2.80				141,429				-				.50				141,429			$	-
$	4.25				50,000				-				4.50				37,500			$	-
$	4.38				244,286				-				2.25				244,286			$	-
$	7.00				536,336				-				3.00				462,524			$	-

Schedule of Fair Value of Stock Option Awards

The fair value of stock option awards accounted for under ASC 718 was estimated at the date of grant using a Black-Scholes option-pricing model with the following assumptions:

 Schedule of Fair Value of Stock Option Awards

		Year Ended December 31, 2022				Year Ended December 31, 2021
Expected term (years)			2.50 to 3.00				2.50 to 3.25
Expected volatility			100.81% to 110.74	%			97.26% to 116.06	%
Risk-free interest rate			2.90% to 3.47	%			0.18% - .81	%
Dividend rate			0	%			0	%

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901

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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.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Section 50
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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.

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