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Non-Controlling Interest (Tables)
 6 Months Ended
Jun. 30, 2023
Noncontrolling Interest [Abstract]  
Schedule of preferred stock
At June 30, 2023, Series B Preferred Stock consisted of the following:

Shares AuthorizedShares Issued and OutstandingStated Value per ShareInitial Carrying ValueCumulative Unpaid Accrued Preferred DividendsLiquidation Preference
1,000,000 3,138 $1,000 $3,138,000 $466,576 $3,604,576 
Schedule of condensed financial statements
The following table summarizes Levo non-controlling interests presented as a separate component of stockholders’ equity on the Company’s condensed consolidated balance sheet at June 30, 2023:

June 30, 2023December 31, 2022
Balance at December 31, 2022$(3,950,186)(2,501,633)
Net income (loss) attributable to non-controlling interests
$14,754 (538,841)
Less: dividends paid to non-controlling interests
139,970 263,846 
Less: Preferred share accretion adjustment
322,932 645,866 
Non-controlling interests$(4,398,334)$(3,950,186)
Schedule of condensed income statement
The following table summarizes Levo non-controlling interests presented as a separate component of the Company’s condensed consolidated statements of operations as of June 30, 2023:

Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Net income (loss) attributable to non-controlling interests
$8,466 $(189,945)$14,754 $(290,878)
Schedule of redeemable noncontrolling interest
Redeemable Non-controlling Interest Reconciliation — Mezzanine Equity

June 30, 2023December 31, 2022
Beginning balance $3,547,765 $2,901,899 
Preferred share Accretion adjustment
322,932 645,866 
Ending balance
 $3,870,697 $3,547,765 
Schedule of black-scholes option pricing model to estimate the fair value of stock options The following assumptions were used in the Monte Carlo Simulation model to calculate the fair value of Class D Incentive Units outstanding as of June 30, 2023.
Class D Units
Expected life of Class D Incentive Units (in years) (1)5.5
Risk-free interest rate (2)3.02 %
Volatility (3)69.50 %
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(1)The expected life of options is the average of the contractual term of the Class D Incentive Units and the vesting period.
(2)The risk-free interest rate is based on the yields on U.S. Treasury debt securities with maturities approximating the estimated life of the options.
(3)Volatility is estimated by management. As the Company has been a private company for most of its existence, there is not enough historical volatility data related to the Company’s Common stock as a public entity. Therefore, this estimate is based on the average volatility of certain public company peers within the Company’s industry.
Schedule of stock option activity
The following is a summary of the stock option activity under the 2010 Plan for the six months ended June 30, 2023:
SharesWeighted-
Average
Exercise
Price per
Share($)		Weighted-
Average
Remaining
Contractual
Term
(Years)		Aggregate Intrinsic Value($)
Outstanding - December 31, 2022853,507 2.91 5.70— 
Granted— — — — 
Exercised— — — — 
Forfeited(8,409)4.66 — — 
Expired/Cancelled(23,893)6.54 — — 
Outstanding - June 30, 2023821,205 2.58 5.44— 
Options Exercisable at June 30, 2023798,366 2.60 3.67— 
Option Vested at June 30, 2023
798,366 2.60 3.67— 
The following is a summary of the stock option activity under the 2020 Plan for the six months ended June 30, 2023:
SharesWeighted-
Average
Exercise
Price per
Share ($)		Weighted-
Average
Remaining
Contractual
Term
(Years)		Aggregate Intrinsic Value($)
Outstanding - December 31, 20221,711,112 11.71 8.46— 
Granted115,800 0.57 — — 
Exercised— — — — 
Forfeited(24,638)6.52 — — 
Expired/Cancelled(7,887)10.43 — — 
Outstanding - June 30, 20231,794,387 11.07 8.068,928 
Options Exercisable at June 30, 2023794,849 13.25 7.66— 
Option Vested at June 30, 2023
794,849 13.25 7.66— 
A summary of the status of the Company’s Class D Incentive Units as of December 31, 2022, and changes during the six months ended June 30, 2023, is presented below:
SharesWeighted-
Average Grant
Date Fair Value($)
Nonvested at December 31, 2022250,000 13.28 
Granted— — 
Vested— — 
Cancelled (1)200,000 12.49 
Nonvested and Outstanding at June 30, 2023
50,000 12.49 
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(1) Cancelled units represents unvested units granted to cliff vest on the grant anniversary date. However, the employees were terminated before the grant date anniversary. As a result, the previously recognized expenses of $421,371 was reversed.