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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2022
Class Of Stock [Line Items]  
Schedule of Assumptions for Fair Value of Option Grant

In connection with the stock option grants during 2022 and 2021, 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:

 

 

 

2022

 

2021

Risk-free interest rate

 

2% - 3%

 

0% - 1%

Expected life (years)

 

6

 

6.6

Expected volatility

 

70%

 

80%

Expected dividend yield

 

Zero

 

Zero

Schedule of Changes in Common Stock Options

The following summarizes the changes in common stock options:

 

 

 

2022

 

 

2021

 




 

 

Options

 

 

Weighted
Average
Exercise
Price

 

 

Options

 

 

Weighted
Average
Exercise
Price

 

Outstanding at beginning of year

 

 

2,193,288

 

 

$

1.23

 

 

 

3,516,225

 

 

$

0.63

 

Granted

 

 

279,500

 

 

$

1.62

 

 

 

722,500

 

 

$

2.28

 

Exercised

 

 

(339,125

)

 

$

0.50

 

 

 

(1,895,437

)

 

$

0.48

 

Forfeited

 

 

(106,313

)

 

$

1.79

 

 

 

(150,000

)

 

$

1.61

 

Outstanding at end of year

 

 

2,027,350

 

 

$

1.38

 

 

 

2,193,288

 

 

$

1.23

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options exercisable at year end

 

 

1,023,975

 

 

$

0.97

 

 

 

978,350

 

 

$

0.60

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average fair value of options granted
   during the year

 

 

 

 

$

1.62

 

 

 

 

 

$

1.59

 

Schedule of Information about All Stock Options Outstanding

The following table summarizes information about all stock options outstanding as of December 31, 2022:

 

Exercise price

 

Options
Outstanding

 

 

Weighted
Average
Remaining
Life
(years)

 

 

Weighted
Average
Exercise
Price

 

 

Number
Exercisable

 

 

Weighted
Average
Remaining
Life (years)

 

 

Weighted
Average
Exercise
Price

 

$ 0.40 to $ 0.53

 

 

503,100

 

 

 

4.4

 

 

$

0.45

 

 

 

495,600

 

 

 

4.3

 

 

$

0.45

 

$ 0.70 to $ 0.95

 

 

354,875

 

 

 

6.8

 

 

$

0.79

 

 

 

240,125

 

 

 

6.8

 

 

$

0.79

 

$ 1.37 to $ 1.90

 

 

877,500

 

 

 

8.7

 

 

$

1.66

 

 

 

196,375

 

 

 

8.2

 

 

$

1.63

 

$ 2.77 to $ 3.33

 

 

291,875

 

 

 

8.4

 

 

$

2.85

 

 

 

91,875

 

 

 

8.3

 

 

$

2.84

 

 

 

2,027,350

 

 

 

 

 

 

 

 

 

1,023,975

 

 

 

 

 

 

 

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

Other Options

 

2022

 

 

2021

 

Options outstanding, beginning of year

 

 

404,375

 

 

 

344,375

 

Options issued

 

 

 

 

 

150,000

 

Options exercised

 

 

(21,250

)

 

 

(22,500

)

Options forfeited

 

 

 

 

 

(67,500

)

Options outstanding, end of year

 

 

383,125

 

 

 

404,375

 

The outstanding options vest over four years at exercise prices ranging from $0.70 to $1.78 per share.

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

2010 Plan

 

2022

 

 

2021

 

Options outstanding, beginning of year

 

 

331,250

 

 

 

1,100,000

 

Options granted

 

 

100,000

 

 

 

50,000

 

Options exercised

 

 

(147,500

)

 

 

(793,750

)

Options forfeited

 

 

(40,000

)

 

 

(25,000

)

Options outstanding, end of year

 

 

243,750

 

 

 

331,250

 

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

2016 Plan

 

2022

 

 

2021

 

Options outstanding, beginning of year

 

 

1,457,663

 

 

 

2,071,850

 

Options granted

 

 

35,000

 

 

 

522,500

 

Options exercised

 

 

(170,375

)

 

 

(1,079,187

)

Options forfeited

 

 

(66,313

)

 

 

(57,500

)

Options outstanding, end of year

 

 

1,255,975

 

 

 

1,457,663

 

2022 Stock Option Plan [Member]  
Class Of Stock [Line Items]  
Schedule of Stock Options and Other Stock Options Issued

2022 Plan

 

2022

 

Options outstanding, beginning of year

 

 

 

Options granted

 

 

144,500

 

Options outstanding, end of year

 

 

144,500