Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Fair Value of Each Option Award Estimated Assumption

For stock options requiring an assessment of value during the year ended December 31, 2023, the fair value of each stock option award was estimated using the Black-Scholes option-pricing model with the following assumptions:

Risk-free interest rate	4.843	%
Expected dividend yield	0	%
Expected volatility	138.05	%
Expected life	4.0 years

For stock options requiring an assessment of value during the year ended December 31, 2022, the fair value of each stock option award was estimated using the Black-Scholes option-pricing model with the following assumptions:

For stock options requiring an assessment of value during the year ended December 31, 2022, the fair value of each stock option award was estimated using the Black-Scholes option-pricing model utilizing the following assumptions:

Risk-free interest rate	3.03% to 3.63	%
Expected dividend yield	0	%
Expected volatility	128.03% to 153.17	%
Expected life	3.5 to 5 years

Summary of Stock-based Compensation Costs

A summary of stock-based compensation costs for the years ended December 31, 2023 and 2022 is as follows:

	Years Ended
	December 31,
	2023		2022
Related parties	$	773,203	$	1,502,776
Non-related parties		—		43,264
Total stock-based compensation costs	$	773,203	$	1,546,040

Summary of Stock Option Activity Including Options Form of Warrants

A summary of stock option activity, including options issued in the form of warrants, during the years ended December 31, 2023 and 2022 is as follows:

	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in Years)
Stock options outstanding at December 31, 2021		266,667		$	37.380
Granted		165,000			13.370
Exercised		—			—
Expired		(42,188	)		19.160
Stock options outstanding at December 31, 2022		389,479			29.183
Granted		290,000			2.492
Exercised		(1,250	)		5.025
Expired		(126,146	)		28.687
Stock options outstanding at December 31, 2023		552,083		$	15.330		3.84
Stock options exercisable at December 31, 2022		281,979		$	32.834
Stock options exercisable at December 31, 2023		252,292		$	28.387		2.89

Schedule of Exercise Prices of Common Stock Options Outstanding and Exercisable Including Options Form of Warrants

At December 31, 2023, the outstanding common stock options,, including options issued in the form of warrants, are exercisable at the following prices per common share:

Exercise Prices		Options Outstanding (Shares)		Options Exercisable (Shares)
$	1.950		250,000		20,833
$	5.025		8,750		8,750
$	5.880		40,000		10,000
$	7.400		55,000		44,376
$	20.000		65,000		35,000
$	20.600		20,000		20,000
$	28.000		25,000		25,000
$	30.300		30,000		30,000
$	32.100		10,000		10,000
$	60.000		16,667		16,667
$	66.000		3,333		3,333
$	71.400		20,000		20,000
$	120.000		8,333		8,333
			552,083		252,292