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Stock Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of non-vested restricted stock awards
   Non-vested
Restricted Stock Awards
 
   Number of
Shares
   Weighted
Average
Grant Date
Fair Value
 
Outstanding at December 31, 2021   
    -
   $
     -
 
Granted   105,000    1.29 
Vested   
-
    
-
 
Forfeited   (45,000)   1.29 
Outstanding at December, 2022   60,000   $1.29 

 

Schedule of stock option activity
   Number of
Stock
Options
   Weighted
Average
Exercise
Price Per
Share
   Weighted
Average
Remaining
Contractual
Life in
Years
   Aggregate
Intrinsic 
Value
 
Outstanding at December 31, 2021   589,786   $1.86    8.3   $605,187 
Granted   236,279    1.80           
Exercised   (62,944)   0.46         

21,354

 
Cancelled and forfeited   (43,286)   1.86           
Outstanding at December 31, 2022   719,835   $1.96    6.5   $20,578 
Exercisable at December 31, 2022   495,101   $1.97    7.6   $20,578 

 

Schedule of grant-date fair value of share-based awards granted
   2022   2021 
Risk-free interest rate   1.58% – 4.35%    0.78% – 1.27% 
Expected dividend yield   0.00%   0.00%
Volatility factor   102.03% – 107.36%    106.00% – 114.76% 
Expected life of option (in years)   5.40 – 6.00    5.00 – 6.00 

 

Schedule of stock-based compensation expense
   Year ended December 31, 
   2022   2021 
Research and development  $64,352   $29,543 
General and administrative   367,702    17,315 
Marketing and business development   950    21,600 
Total stock-based compensation  $433,004   $68,458