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Stockholders' Equity (Tables)
3 Months Ended
Mar. 31, 2024
Stockholders' Equity [Abstract]  
Schedule of Outstanding Stock Warrants The Company recognized stock-based compensation expense during the three months ended March 31, 2024 and 2023, as follows:
   Three months ended
March,
 
   2024   2023 
Performance-based restricted stock awards  $55,983   $166,779 
Service-based restricted stock awards   6,180,528    29,995 
Stock issued to consultants   -    371,014 
Warrant expense   -    500,500 
Option expense*   (1,335,027)   
-
 
Total stock-based compensation**  $4,901,484   $1,068,288 
*The option expense contains a reversal of stock-based compensation expenses from 2023 for cancelled option awards.
**Stock based compensation expense in the consolidated, condensed unaudited statement of operations includes $3.97 million of stock based compensation and $0.93 million for surrendered shares.
Schedule of Service-Based Awards Activity The following table presents a summary of the Company’s service-based awards activity:
   Number of
shares
   Weighted
Average
Remaining
Contractual
Life
(in years)
 
Outstanding as of December 31, 2023   5,242,393    2.28 
Issued   3,505,383    - 
Outstanding as of March 31, 2024   8,747,776    1.43 
Exercisable as of March 31, 2024   1,499,030    0.02 
The following table presents a summary of the Company’s Stock options awards activity:
   Number of
shares
   Weighted
Average
Exercise
Price
   Weighted
Average
Remaining
Contractual
Life
(in years)
   Aggregate
Intrinsic
Value
 
Outstanding as of December 31, 2023   3,500,417   $1.23    9.70   $6,923,000 
Cancelled   (1,750,000)   0.94    -    - 
Outstanding as of March 31, 2024   1,750,417   $0.56    9.65   $1,708,000 
Exercisable as of March 31, 2024   417   $0.01    -   $-