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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Stock-Based Compensation

Schedule of assumptions used for estimating fair value

​

​	​	​	​	​	​	​	​
​	​	Year ended December 31,
​		2023			2022
Exercise price	​	$	0.59	​	$	0.58-2.61	​
Expected dividends	​		0	%	​	0	%
Expected volatility	​		90	%	​	95	%
Risk free interest rate	​		4.02	%	​	2.65-3.77	%
Expected life of option (years)	​		4.25	​	​	4.3	​

Summary of stock option activity

A summary of stock option activity for the years ended December 31, 2023 and 2022 is as follows:

​

​	​	​	​	​	​	​	​	​	​	​
​		​		Weighted			Weighted Average		Aggregate
​	​	​	​	Average Exercise		​	Remaining	​	Intrinsic
​	​	Options	​	Price		​	Contractual Life	​	Value
Balance - December 31, 2021		625,565	​	$	16.12		5.58 years	​	$	—
​			​					​
Granted		1,728,000	​	​	0.58			​
Exercised		—	​	​	—			​	​	​
Expired		(43,126)	​	​	67.81			​
Forfeited		(14,541)	​	​	3.61			​
Balance - December 31, 2022		2,295,898	​	​	3.53		6.44 years	​	​	—
​			​					​
Granted		2,195,000	​	​	0.59			​
Exercised		—	​	​	—			​	​	​
Expired		(104,270)	​	​	14.73			​
Forfeited		(10,847)	​	​	1.11			​
​			​					​
Balance -December 31, 2023 - outstanding		4,375,781	​	$	1.80		7.70 years	​	$	—
​		​	​					​
Balance - December 31, 2023 - exercisable		1,251,477	​	$	4.70		5.05 years	​	$	—
​			​					​
Grant date fair value of options granted - December 31, 2023			​	$	873,140			​
​			​					​
Weighted average grant date fair value - December 31, 2023			​	$	0.40			​
​			​		​			​
Grant date fair value of options granted - December 31, 2022			​	$	706,264			​
​			​					​
Weighted average grant date fair value - December 31, 2022			​	$	.41			​

Schedule of outstanding and exercisable options

The options outstanding and exercisable at December 31, 2023 are as follows:

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Options Outstanding

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Options Exercisable

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​

​

​

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Weighted

​

​

​

Weighted

​

​

​

​

​

Weighted

​

Average

​

​

​

Weighted

​

Average

​

​

​

​

​

Average

​

Remaining

​

​

​

Average

​

Remaining

Range of

​

​

​

Exercise

​

Contractual

​

​

​

Exercise

​

Contractual

Exercise Price

​

Options

​

Price

​

Life

​

Options

​

Price

​

Life

$

0.00 – $350.00

4,372,338

​

$

1.20

8 years

1,248,004

​

$

2.62

5 years

​

351.00 – $700.00

270

​

511.00

1 years

270

​

511

1 years

​

701.00 – $1000.00

3,173

​

​

779.83

2 years

3,173

​

​

779.83

2 years

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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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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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Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding and exercisable options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.

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