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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2024
Stock-Based Compensation  
Schedule of assumptions used for estimating fair value

Year ended December 31,

 

    

2024

    

2023

 

Exercise price

$

5.25

$

14.75

Expected dividends

 

0

%  

0

%

Expected volatility

 

93.38

%  

90

%

Risk free interest rate

 

3.88

%  

4.02

%

Expected life of option (years)

 

4.26

4.25

Summary of stock option activity

    

    

Weighted 

    

Weighted Average 

    

Aggregate 

Average Exercise 

Remaining 

Intrinsic 

Options

Price

Contractual Life

Value

Balance - December 31, 2022

 

91,862

$

90.47

 

6.44 years

$

 

  

 

 

  

 

  

Granted

 

87,801

14.75

 

  

 

  

Expired

 

(4,181)

387.60

 

  

 

  

Forfeited

 

(433)

27.79

 

  

 

  

Balance - December 31, 2023

 

175,049

45.55

 

7.70 years

 

  

 

 

  

 

  

Granted

 

420

5.25

 

  

 

  

Expired

 

(435)

3,498.79

 

  

 

  

Forfeited

 

 

  

 

  

 

  

 

 

  

 

  

Balance -December 31, 2024 - outstanding

 

175,034

$

36.88

 

6.72 years

$

 

 

 

  

 

  

Balance - December 31, 2024 - exercisable

 

107,759

$

50.73

 

5.97 years

$

 

  

 

 

  

 

  

Grant date fair value of options granted - December 31, 2024

 

  

$

1,526

 

  

 

  

 

  

 

 

  

 

  

Weighted average grant date fair value - December 31, 2024

 

  

$

3.63

 

  

 

  

 

  

 

 

  

 

  

Grant date fair value of options granted - year ended December 31, 2023

 

  

$

873,140

 

  

 

  

 

  

 

 

  

 

  

Weighted average grant date fair value - year ended December 31, 2023

 

  

$

0.40

 

  

 

  

Schedule of outstanding and exercisable options

The options outstanding and exercisable at December 31, 2024 are as follows:

Options Outstanding

Options Exercisable

    

    

    

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 – $100.00

 

161,503

$

18.28

 

7 years

 

94,228

$

20.82

 

7 years

101.00 – $200.00

 

13,427

 

114.61

 

2 years

 

13,427

 

114.61

 

2 years

18,900.00 – $18,900.00

 

104

18,900.00

 

1 years

 

104

18,900.00

 

1years