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Stockholders’ Equity (Tables) | 9 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 30, 2023 | Dec. 31, 2022
Equity [Abstract] |  |
Schedule of various warrants/options issued and outstanding | Schedule of various warrants/options issued and outstanding
Number of warrants/non-plan options | Exercise Price | Weighted Average Remaining Life (Yrs)
25,000 | $5.00 | 1.86
521,825 | $3.32 | 8.15
78,000 | $2.90 | 1.11
30,000 | $3.32 | 1.11
148,005 | $9.10 | 3.50
| Schedule of various warrants/options issued and outstanding
Number of warrants/non-plan options | Exercise Price | Weighted Average Remaining Life (Yrs)
559,431 | $3.32 | 8.90
151,000 | $2.90 | 1.86
30,000 | $3.32 | 1.86
148,005 | $9.10 | 4.25
888,436 |  |
Schedule of assumptions used | Schedule of assumptions used
Expected volatility |  |  | 109.48% - 113.32%
Expected dividends |  |  | None
Expected term (in years) |  |  | 2.5 – 5.01
Risk free rate |  |  | 2.83% – 3.01%
The Company has computed the fair value of the 245,500 options granted during the nine months ended September 30, 2023 using the following assumptions:
Expected volatility |  |  | 105 | %
Expected dividends |  |  | None
Expected term (in years) |  |  | 6.0
Risk free rate |  |  | 4.33%
| Schedule of assumptions used
Expected volatility |  |  | 109.48% - 113.32%
Expected dividends |  |  | None
Expected term (in years) |  |  | 2.5 – 5.01
Risk free rate |  |  | 2.83% – 3.01%
Schedule of stock option activity | Schedule of stock option activity
(in thousands except number of options and per options data) |  | Number of options |  |  |  | Weighted average exercise price |  |  |  | Weighted average remaining contractual term (in years) |  |  |  | Aggregate intrinsic value (1) |
Outstanding at beginning of period |  | 829,500 |  |  | $ | 3.43 |  |  |  | 8.76 |  |  |  | — |
Granted |  | 245,500 |  |  |  | 4.92 |  |  |  | — |  |  |  | — |
Exercised |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Forfeited |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Outstanding at end of period |  | 1,075,000 |  |  | $ | 3.77 |  |  |  | 9.02 |  |  | $ | 567,595 |
Exercisable at end of period |  | 829,500 |  |  | $ | 3.43 |  |  |  | 7.51 |  |  | $ | 567,595 |
| (1) | The aggregate intrinsic value of options outstanding and options exercisable at beginning of period is $0, as all options are out of the money.
| Schedule of stock option activity
(in thousands except number of options and per options data) |  | Number of options |  |  |  | Weighted average exercise price |  |  |  | Weighted average remaining contractual term (in years) |  |  |  | Aggregate intrinsic value (1) |
Outstanding at beginning of period |  | — |  |  | $ | — |  |  |  | — |  |  | $ | — |
Granted |  | 829,500 |  |  |  | 3.43 |  |  |  | — |  |  |  | — |
Exercised |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Forfeited |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Outstanding at end of period |  | 829,500 |  |  | $ | 3.43 |  |  |  | 8.26 |  |  | $ | — |
Exercisable at end of period |  | 829,500 |  |  | $ | 3.43 |  |  |  | 8.26 |  |  | $ | — |
Schedule of common stock shares reserved for future issuance | Schedule of common stock shares reserved for future issuance
Exercise of warrants |  |  | 772,830 |
Exercise of options unrelated to any Plan |  |  | 30,000 |
Exercise of stock options – 2021 Incentive Award Plan |  |  | 1,075,000 |
Exercise of restricted stock units – 2021 Incentive Award Plan |  |  | 48,780 |
Total shares of common stock reserved for future issuances |  |  | 1,926,610 |
| Schedule of common stock shares reserved for future issuance
Exercise of warrants |  |  | 858,436 |
Exercise of options unrelated to any Plan |  |  | 30,000 |
Exercise of stock options – 2021 Incentive Award Plan |  |  | 829,500 |
Total shares of common stock reserved for future issuances |  |  | 1,717,936 |
Share-Based Payment Arrangement, Restricted Stock Unit, Activity | Share-Based Payment Arrangement, Restricted Stock Unit, Activity
(in thousands except number of options and per options data) |  | Number of restricted stock awards |  |  |  |  |  |  | Weighted average grant-date fair value
Nonvested at beginning of year |  | — |  |  | $ |  |  |  | —
Granted |  | 48,780 |  |  |  |  |  |  | 239,998
Vested |  | — |  |  |  |  |  |  | —
Forfeited |  | — |  |  |  |  |  |  | —
Nonvested at end of year |  | 48,780 |  |  | $ |  |  |  | 239,998

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