Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2020

Stockholders Equity Note [Abstract]

Summary of Stock Option Activity

A summary of stock option activity under each of the Company’s stock option plans during the six months period ended June 30, 2020:

	Stock Options Outstanding
	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value
Outstanding at January 1, 2020		1,686,444		$	1.32		4.84	$	1,416,279
Granted		432,125		$	2.17
Forfeited / Cancelled		(37,281	)	$	2.53
Exercised		(694,951	)	$	0.80
Outstanding at June 30, 2020		1,386,337		$	1.81		6.66	$	526,795
Exercisable at June 30, 2020		874,056		$	1.52		4.90	$	526,577
Vested and expected to vest at June 30, 2020		1,370,969		$	1.81		6.63	$	526,788

Schedule of Assumption to Calculate Weighted Average Grant Date Fair Value of Options Grant

The following table presents details of the assumptions used to calculate the weighted-average grant date fair value of common stock options granted by the Company:

	For the Six Months Ended June 30,
	2020			2019
Expected term (in years)	5.00 -5.86			4.65 - 5.87
Expected volatility		43.50	%	43.7 - 44.4%
Risk-free interest rate	0.33% - 1.41%			2.49 - 2.55%
Weighted average grant date fair value per share	$	0.83		$	1.07
Grant date fair value of options vested	$	529,471		$	574,524
Intrinsic value of options exercised	$	813,148		$	551,134

Schedule of Restricted Stock Unit Activity

The Company’s restricted stock unit activity for the six months ended June 30, 2020 is as follows:

	Restricted Stock Units
	Number of Shares			Weighted Average Grant Date Fair Value
Unvested at January 1, 2020		216,670		$	3.02
Granted		527,125		$	2.64
Vested		(112,083	)	$	3.16
Cancelled		(38,333	)	$	2.41
Unvested at June 30, 2020		593,379		$	2.70

Summary of Stock-Based Compensation Expense

Stock-based compensation expense for the three and six month periods ended June 30, 2020 and 2019 was comprised of the following:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
Stock-based compensation classified as:	2020		2019		2020		2019
General and administrative	$	42,351	$	119,231	$	202,031	$	244,438
Production		17,769		12,146		35,738		27,044
Marketing and selling		17,074		15,067		34,366		29,460
Research and development		8,184		11,365		21,004		24,341
	$	85,378	$	157,809	$	293,139	$	325,283

Schedule of Warrant Activity

The following table summarizes the Company’s warrant activity during the six months ended June 30, 2020:

	Number of Warrants		Weighted Average Exercise Price
Warrants outstanding – January 1, 2020		630,947	$	4.16
Warrants granted		-	$	-
Warrants exercised		-	$	-
Warrants outstanding – June 30, 2020		630,947	$	4.16