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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2021
Class Of Stock [Line Items]  
Schedule of Assumptions for Fair Value of Option Grant

In connection with the stock option grants during 2021 and 2020, the fair value of each option grant was estimated on the date of the grant using the Black-Scholes option pricing model with the following assumptions:

 

 

 

2021

 

2020

Risk-free interest rate

 

0% - 1%

 

0% - 2%

Expected life (years)

 

6.6

 

6.8

Expected volatility

 

80%

 

74%

Expected dividend yield

 

Zero

 

Zero

 

 

Schedule of Changes in Common Stock Options

The following summarizes the changes in common stock options for 2021 and 2020:

 

 

 

2021

 

 

2020

 




 

 

Options

 

 

Weighted
Average
Exercise
Price

 

 

Options

 

 

Weighted
Average
Exercise
Price

 

Outstanding at beginning of year

 

 

3,516,225

 

 

$

0.63

 

 

 

3,611,850

 

 

$

0.51

 

Granted

 

 

722,500

 

 

$

2.28

 

 

 

474,750

 

 

$

1.62

 

Exercised

 

 

(1,895,437

)

 

$

0.48

 

 

 

(383,350

)

 

$

0.46

 

Expired

 

 

 

 

$

 

 

 

(20,000

)

 

$

0.83

 

Forfeited

 

 

(150,000

)

 

$

1.61

 

 

 

(167,025

)

 

$

1.15

 

Outstanding at end of year

 

 

2,193,288

 

 

$

1.23

 

 

 

3,516,225

 

 

$

0.63

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options exercisable at year end

 

 

978,350

 

 

$

0.60

 

 

 

2,566,100

 

 

$

0.47

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average fair value of options granted
   during the year

 

 

 

 

$

1.59

 

 

 

 

 

$

1.64

 

Schedule of Information about All Stock Options Outstanding

The following table summarizes information about all stock options outstanding at December 31, 2021:

 

Exercise price

 

Options
Outstanding

 

 

Weighted
Average
Remaining
Life
(years)

 

 

Weighted
Average
Exercise
Price

 

 

Number
Exercisable

 

 

Weighted
Average
Remaining
Life (years)

 

 

Weighted
Average
Exercise
Price

 

$ 0.24 to $ 0.48

 

 

742,225

 

 

 

5.0

 

 

$

0.44

 

 

 

700,600

 

 

 

4.9

 

 

$

0.44

 

$ 0.53 to $ 0.95

 

 

501,063

 

 

 

7.7

 

 

$

0.76

 

 

 

212,750

 

 

 

7.6

 

 

$

0.76

 

$ 1.41 to $ 1.90

 

 

612,500

 

 

 

9.3

 

 

$

1.47

 

 

 

47,500

 

 

 

8.5

 

 

$

1.47

 

$ 2.77 to $ 3.33

 

 

337,500

 

 

 

9.2

 

 

$

2.77

 

 

 

17,500

 

 

 

8.6

 

 

$

2.77

 

 

 

 

2,193,288

 

 

 

 

 

 

 

 

 

978,350

 

 

 

 

 

 

 

Other Options Issued [Member]  
Class Of Stock [Line Items]  
Schedule of Stock Options and Other Stock Options Issued

 

Other Options

 

2021

 

 

2020

 

Options outstanding, beginning of year

 

 

344,375

 

 

 

265,000

 

Options issued

 

 

150,000

 

 

 

90,000

 

Options exercised

 

 

(22,500

)

 

 

(10,625

)

Options forfeited

 

 

(67,500

)

 

 

 

Options outstanding, end of year

 

 

404,375

 

 

 

344,375

 

2003 Stock Option and Appreciation Rights Plan [Member]  
Class Of Stock [Line Items]  
Schedule of Stock Options and Other Stock Options Issued

 

2003 Plan

 

2021

 

 

2020

 

Options outstanding, beginning of year

 

 

 

 

 

20,000

 

Options expired

 

 

 

 

 

(20,000

)

Options outstanding, end of year

 

 

 

 

 

 

2010 Non-Qualified Stock Option Plan [Member]  
Class Of Stock [Line Items]  
Schedule of Stock Options and Other Stock Options Issued

 

2010 Plan

 

2021

 

 

2020

 

Options outstanding, beginning of year

 

 

1,100,000

 

 

 

975,000

 

Options granted

 

 

50,000

 

 

 

125,000

 

Options exercised

 

 

(793,750

)

 

 

 

Options forfeited

 

 

(25,000

)

 

 

 

Options outstanding, end of year

 

 

331,250

 

 

 

1,100,000

 

 

2016 Stock Option Plan [Member]  
Class Of Stock [Line Items]  
Schedule of Stock Options and Other Stock Options Issued

 

2016 Plan

 

2021

 

 

2020

 

Options outstanding, beginning of year

 

 

2,071,850

 

 

 

2,351,850

 

Options granted

 

 

522,500

 

 

 

259,750

 

Options exercised

 

 

(1,079,187

)

 

 

(372,725

)

Options forfeited

 

 

(57,500

)

 

 

(167,025

)

Options outstanding, end of year

 

 

1,457,663

 

 

 

2,071,850