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Equity Compensation Plans (Tables)
6 Months Ended
Jun. 30, 2023
Equity Compensation Plans [Abstract]  
Schedule of Stock-Based Compensation Expense Stock-based compensation expense include the following components:
   Three Months ended
June 30,
   Six Months ended
June 30,
 
   2023   2022   2023   2022 
Stock options  $384,396   $232,824   $805,144   $524,107 
Performance share units   59,404    24,652    59,404    38,598 
Total stock-based compensation  $443,800   $257,476   $864,548   $562,705 
Schedule of Measured the Fair Value of Each Stock Option Award The fair value of stock options is recognized as compensation expense using the straight-line method over the vesting period. The Company measured the fair value of each stock option award on the date of grant using the Black-Scholes-Merton (BSM) pricing model with the following weighted average assumptions:
   Six Months
ended
June 30,
2023
   Six Months
ended
June 30,
2022
 
Exercise price  $0.79   $1.48 
Expected life   6 years    6 years 
Expected volatility   96%   68%
Dividend yield   0%   0%
Risk-free interest rate   3.54    2.04%
Schedule of Stock Option Activity in stock options for the six month periods ended June 30, 2023 and June 30, 2022 was as follows:
   Number of
options
   Weighted
average
exercise
price
   Weighted
average
contractual
term
(years)
   Aggregate
intrinsic
value
 
Outstanding at January 1, 2023   3,919,228   $1.97        $52,223 
Granted   1,517,844    0.79         75 
Exercised   (1,500)   0.79         345 
Outstanding at June 30, 2023   5,435,572   $1.64    7.27   $1,102,624 
Vested and exercisable at June 30, 2023   4,049,004   $1.84    6.66   $580,962 
                     
Outstanding at January 1, 2022   3,080,904   $2.06        $1,923,642 
Granted   1,050,468    1.48         
 
Exercised   (162,956)   .84         204,030 
Forfeited   (7,333)   2.22         2,273 
Expired   (25,000)   1.70         
 
Outstanding at June 30, 2022   3,936,083   $1.96    7.17   $39,412 
Vested and exercisable at June 30, 2022   2,707,122   $2.06    6.58   $39,412 
Schedule of Activity in Performance Share Units

Activity in performance share units for the six months ended June 30, 2023 and June 30, 2022 was as follows:

   Number of
performance
share units
   Weighted
average
grant date
fair value
 
Non- vested at January 1, 2023   790,327   $1.53 
Granted   1,250,000    0.78 
Forfeited/ unearned   (790,327)   1.53 
Vested   
    
 
Non- vested at June 30, 2023   1,250,000   $0.78 
Non- vested at January 1, 2022   
   $
 
Granted   790,327    1.53 
Forfeited/ unearned   
    
 
Vested   
    
 
Non- vested at June 30, 2022   790,327   $1.53