Accounting for Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of stock option activities

	March 31, 2022
	Number of Options			Weighted-Average Exercise Price
Outstanding at beginning of year		617,273		$	6.47
Granted		167,500			3.64
Exercised		(91,000	)		0.68
Forfeited		(35,000	)		6.33
Cancelled		–			–
Expired		(1,000	)		4.30
Outstanding at March 31, 2022		657,773		$	6.56
Options exercisable at March 31, 2022		234,613		$	2.82

Valuation assumptions for stock-based compensation

	For Three Months Ended March 31, 2022		For Three Months Ended March 31, 2021
Weighted average grant date fair value	$	3.34	$	13.88
Weighted average assumptions used:
Expected dividend yield		0.0%		0.0%
Risk-free interest rate		0.88%		0.67%
Expected volatility		133.0%		73.00%
Expected life (in years)		6.6		5.0