Stock-Based Compensation Expense (Tables)

6 Months Ended

Jun. 30, 2023

Stock-Based Compensation Expense [Abstract]

Schedule of stock options vested and exercisable

The following table summarizes information about the Company’s stock options outstanding as well as stock options vested and exercisable as of June 30, 2023, and activity during the year then ended:

	Shares			Weighted-average exercise price		Weighted-average remaining contractual term (years)		Aggregate intrinsic value
Outstanding as of December 31, 2022		14,715,110		$	1.23		7.84	$	2,571,013
Granted		2,341,000			1.03
Exercised		(23,750	)		0.34				15,523
Cancelled/forfeited		(1,066,045	)	$	1.75
Outstanding as of June 30, 2023		15,966,315		$	1.17		7.60	$	7,548,582
Vested and expected to vest at June 30, 2023		15,966,315		$	1.17		7.60	$	7,548,582
Vested and exercisable at June 30, 2023		7,527,990		$	0.88		5.80	$	5,823,641

Schedule of restricted stock units and activity

The following table summarizes information about the Company’s RSUs as of June 30, 2023, and activity during the year then ended:

	Shares			Weighted- average grant date fair value
Unvested shares at December 31, 2022		216,036		$	5.52
RSUs granted		108,000			1.05
RSUs vested		(122,286	)		5.52
RSUs forfeited		-			-
Unvested Shares at June 30, 2023		201,750		$	3.13

Schedule of weighted average fair value of each grant estimated on grant date

The following weighted average assumptions were used in estimating the grant date fair values in June 30, 2023 and 2022:

	June 30,
	2023			2022
Fair value of common stock	$	1.03		$	1.95
Expected term (in years)		6.02			6.06
Risk-free rate		3.61	%		2.49	%
Expected volatility		52.72	%		36.23	%
Dividend yield		0	%		0	%