Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Schedule of Fair Value of Share Based Payment

The fair value of share-based payment units was estimated using the Black-Scholes option pricing model with the following assumptions and weighted average fair values as follows:

	Year Ended December 31, 2019
Valuation assumptions:
Grant price	$	2.68
Exercise price	$	2.68
Expected dividend yield		0	%
Expected volatility		84.92	%
Expected life (in years)		5
Risk-free interest rate		2.49	%

Schedule of Stock Option Activity

Stock option activity under the Plans during the periods indicated below is as follows:

	Number of Shares Subject to Issuance			Weighted- average Exercise Price		Weighted- average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at December 31, 2018		1,072,332		$	1.44	1.85 years		-
Granted		444,163			2.68
Exercised		(94,872	)		2.08
Outstanding at December 31, 2019		1,421,623		$	1.78	1.96 years	$	8,113,777
Granted		-			-
Exercised		(783,741	)		1.20
Outstanding at December 31, 2020		637,882		$	2.50	2.55 years	$	5,686,421
Exercisable at December 31, 2020		359,967		$	2.33	2.20 years	$	3,269,723

Summary of Stock Options

The following is a summary of stock options as of December 31, 2020:

	Options Outstanding					Options Exercisable
Range of Exercise Prices	Number of Options		Weighted- average Remaining Life	Weighted- average Exercise Price		Number of Options		Weighted- average Exercise Price
$1.01 to $1.56		71,719	0.17 years	$	1.02		71,719	$	1.16
$1.75 to $2.87		566,163	2.85 years	$	2.68		288,248	$	2.65
		637,882	2.55 years	$	2.50		359,967	$	2.33

Schedule of Restricted Stock Units Outstanding

Restricted stock unit activity under the Plans during the periods indicated below is as follows:

	Number of Shares			Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
Outstanding at December 31, 2018		-		$	-		-
Granted		12,477			5.53
Vested and Settled in shares		(9,807	)		5.00
Outstanding at December 31, 2019		2,670		$	7.49	$	-
Granted		38,855			5.78
Vested and Settled in shares		(39,771	)		5.65
Outstanding December 31, 2020		1,754		$	11.40	$	-

Schedule of Performance Stock Units Outstanding

	Number of Shares		Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
Outstanding at December 31, 2019		-	$	-	$	-
Granted		265,942		7.91
Outstanding at December 31, 2020		265,942	$	7.91	$	-

Schedule of Share Based Compensation Expense

Share based compensation expense for the years ended December 31, 2020 and 2019 is as follows:

	Years Ended December 31,
Compensation cost recognized:	2020		2019
Stock options	$	198,407	$	515,805
Restricted stock units		140,000		69,060
Performance stock units		71,070		-
	$	409,477	$	584,865

Schedule of Stock Based Compensation

Share based compensation is included in operating expenses as follows:

	Years Ended December 31,
	2020		2019
Selling, general and administrative	$	366,780	$	561,391
Research and development		42,697		23,474
	$	409,477	$	584,865