Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2020

Stockholders Equity Note [Abstract]

Summary of Stock Option Activity

A summary of stock option activity under the plans during the years ended December 31, 2020 and 2019 are as follows:

	Stock Options Outstanding
	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value
Outstanding at January 1, 2019		2,018,747		$	1.13		4.08	$	2,013,516
Granted		106,000		$	2.14
Forfeited / Canceled		(62,000	)	$	2.04
Exercised		(376,303	)	$	0.46
Outstanding at December 31, 2019		1,686,444		$	1.13		4.84	$	2,013,516
Granted		432,125		$	2.17
Forfeited / Canceled		(38,197	)	$	2.32
Exercised		(760,105	)	$	0.88
Outstanding at December 31, 2020		1,320,267		$	1.81		6.43	$	2,889,274
Exercisable at December 31, 2020		842,871		$	1.56		4.81	$	2,060,542
Vested and expected to vest at December 31, 2020		1,305,945		$	1.81		6.40	$	2,864,412

Summary of Common Stock Options Outstanding

The following table summarizes information about common stock options outstanding as of December 31, 2020:

		Stock Options Outstanding						Stock Options Exercisable
Plan	Exercise Price Range	Number of Shares Outstanding		Weighted Average Remaining Contractual Life (in years)		Weighted Average Exercise Price		Number of Shares Exercisable		Weighted Average Remaining Contractual Life (in years)		Weighted Average Exercise Price
2011	$0.46-$0.80		309,895		2.15	$	0.63		309,895		2.15	$	0.63
2015	$1.78-$1.95		424,610		6.00	$	1.74		423,881		6.00	$	1.74
2017	$2.14-$4.09		585,762		9.01	$	2.49		109,095		7.73	$	3.48
			1,320,267						842,871

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 Year Ended December 31,
	2020			2019
Expected term (in years)	5.04			4.6 - 5.9
Expected volatility	43.5 - 47.8%			43.7 - 44.4 %
Risk-free interest rate		0.33	%	2.30 - 2.49%
Weighted average grant date fair value per share	$	0.83		$	1.09
Grant date fair value of options vested	$	554,575		$	706,417
Intrinsic value of options exercised	$	2,370,491		$	559,237

Schedule of Restricted Stock Unit Activity

The Company’s restricted stock unit activity for the years ended December 31, 2020 and 2019 is as follows:

	Restricted Stock Units
	Number of Shares			Weighted Average Grant Date Fair Value
Unvested at January 1, 2019		173,335		$	4.13
Granted		167,500		$	2.43
Vested		(116,665	)	$	(3.86	)
Canceled		(7,500	)	$	(2.34	)
Unvested at December 31, 2019		216,670		$	3.02
Granted		554,251		$	2.63
Vested		(151,251	)	$	3.16
Canceled		(43,748	)	$	2.43
Unvested at December 31, 2020		575,922		$	2.65

Summary of Stock-Based Compensation Expense

Stock-based compensation expense for the years ended December 31, 2020 and 2019 was comprised of the following:

	For the Year Ended December 31,
Stock-based compensation classified as:	2020		2019
General and administrative	$	556,935	$	469,714
Production		65,631		70,243
Marketing and selling		65,580		59,486
Research and development		36,232		50,026
	$	724,378	$	649,469

Schedule of Warrant Activity

The following table summarizes the Company’s warrant activity during the years ended December 31, 2020 and 2019:

	Number of Warrants			Weighted Average Exercise Price
Warrants outstanding – January 1, 2019		578,996		$	4.32
Warrants granted		69,766		$	2.15
Warrants exercised		(17,815	)	$	1.40
Warrants outstanding – December 31, 2019		630,947		$	4.16
Warrants granted		-		$	-
Warrants exercised		(125,001	)	$	0.76
Warrants outstanding – December 31, 2020		505,946		$	5.00