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Stock Options (Tables)
 9 Months Ended 12 Months Ended
Sep. 30, 2024
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]    
Schedule of Stock Options Granted and Outstanding

A summary of options granted and outstanding is presented below.

 

   September 30, 2024 
   Options   Weighted
Average
Exercise Price		 
Outstanding at Beginning of year   109,493   $67.12 
Granted   63,409    6.27 
Forfeited or cancelled   (18,592)    37.11 
Outstanding at end of period   154,310   $42.88 
           
Exercisable at end of period   122,243   $50.86 

A summary of options granted and outstanding is presented below.

 

   2023   2022 
   Options   Weighted
Average
Exercise
Price		   Options   Weighted
Average
Exercise
Price		 
Outstanding at Beginning of year   1,358,122   $4.37    1,137,479   $5.18 
Granted   1,065,000    1.35    367,500    1.63 
Cancelled             (3,571)   (4.38)
Forfeited   (14,286)  $1.75    (143,286)  $(3.77)
                     
Outstanding at end of year   2,408,836   $3.03    1,358,122   $4.37 
                     
Exercisable at end of year   1,881,327   $3.47    1,132,861   $4.59 
Schedule of Information About Options Outstanding  

The following table summarizes information about options outstanding at December 31, 2023:

 

Exercise
Prices		     Options
Outstanding		     Aggregate
Intrinsic Value		     Weighted Average
Remaining
Contractual Life		     Options
Exercisable		    

Aggregate

Intrinsic Value
on Exercisable
Shares

  
                                 
$ .82 to .92       40,000            -       4.58       18,794                 -  
$ 1.21       307,500       -       3.42       240,386       -  
$ 1.30       50,000       -       4.21       43,750       -  
$ 1.37       975,000       -       4.17       561,719       -  
$ 1.75       54,285       -       2.25      

54,285

       -  
$ 2.80       141,429       -       2.25       141,429       -  
$ 1.39       10,000       -       3.75       10,000       -  
$ 4.25       50,000       -       3.75       50,000       -  
$ 4.38       244,286       -       1.25       244,286       -  
$ 7.00       536,335       -       2.00       516,679       -  
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:

 

    

Year Ended
December 31,

2023

    

Year Ended
December 31,

2022

  
Expected term (years)     2.88 to 3.25       2.50 to 3.00  
Expected volatility     75.40% to 89.93 %     100.81% to 110.74 %
Risk-free interest rate     3.71% to 4.27 %     2.90% to 3.47 %
Dividend rate     0 %     0 %
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 for the options granted during the nine months ended September 30, 2024 and 2023.

 

   September 30, 2024   September 30, 2023 
Expected term (years)   2.66 to 3.06    2.88 to 3.25 
Expected volatility   81.15 % to 83.04%    75.40% to 89.93%
Risk-free interest rate   4.71 % to 4.76%   3.71% to 4.27%
Dividend rate   0    0