Share-based Compensation (Tables)
|
12 Months Ended |
Dec. 31, 2022 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| Schedule of Information about Incentive Plan |
The
following table contains information about the 2019 Plan as of December 31, 2022:
Schedule
of Information about Incentive Plan
|
|
Awards |
|
|
|
|
|
|
|
|
Awards |
|
|
|
Reserved for |
|
|
Awards |
|
|
Awards |
|
|
Available
for |
|
|
|
Issuance |
|
|
Issued |
|
|
Exercised |
|
|
Grant |
|
| 2019 Plan(1) |
|
|
571,429 |
|
|
|
564,246 |
|
|
|
7,183 |
|
|
|
- |
|
| Awards issued in excess
of 2019 Plan |
|
|
- |
|
|
|
45,441 |
|
|
|
- |
|
|
|
- |
|
| Total |
|
|
571,429 |
|
|
|
609,687 |
|
|
|
7,183 |
|
|
|
- |
|
| (1) |
includes incentive stock options and restricted stock units discussed below. |
|
| Schedule of Incentive Stock Option Activity |
The
following table summarizes the Company’s incentive stock option activity and related information for the years ended December 31,
2022 and 2021.
Schedule
of Incentive Stock Option Activity
|
|
|
|
|
|
|
|
Weighted |
|
|
|
|
|
|
Weighted |
|
|
Average |
|
|
|
|
|
|
Average |
|
|
Contractual |
|
|
|
Number of |
|
|
Exercise |
|
|
Term in |
|
| |
|
Options |
|
|
Price |
|
|
Years |
|
| Outstanding at January 1, 2021 |
|
|
387,318 |
|
|
$ |
1,124418 |
|
|
|
9.32 |
|
| Granted |
|
|
90,478 |
|
|
|
3.960526 |
|
|
|
10.00 |
|
| Exercised |
|
|
(7,183 |
) |
|
|
1.75 |
|
|
|
— |
|
| Forfeited |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Cancelled |
|
|
(28,571 |
) |
|
|
1.40 |
|
|
|
— |
|
| Expired |
|
|
(7,103 |
) |
|
|
1.75 |
|
|
|
— |
|
| Outstanding at December 31, 2021 |
|
|
434,939 |
|
|
$ |
1.678955 |
|
|
|
8.56 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Granted |
|
|
195,000 |
|
|
$ |
3.3461538 |
|
|
|
10.00 |
|
| Exercised |
|
|
—- |
|
|
|
— |
|
|
|
— |
|
| Forfeited |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Cancelled |
|
|
(100,001 |
) |
|
|
1.40000 |
|
|
|
— |
|
| Expired |
|
|
(5,001 |
) |
|
|
1.40000 |
|
|
|
— |
|
| Outstanding at December 31, 2022 |
|
|
524,937 |
|
|
$ |
2.351416 |
|
|
|
8.38 |
|
| Exercisable at December 31, 2022 |
|
|
379,937 |
|
|
$ |
1.777020 |
|
|
|
7.86 |
|
|
| Schedule of Assumptions used in Share-based Compensation |
Schedule
of Assumptions used in Share-based Compensation
| |
|
|
2022 |
|
|
2021 |
|
| Volatility |
|
|
277.84 |
% |
|
|
171.12%-183.48
|
% |
| Risk-free interest rate |
|
|
4.06 |
% |
|
|
0.46% - 0.86
|
% |
| Dividend yield |
|
|
0.0 |
% |
|
|
0.0 |
% |
| Expected term |
|
|
5.0
years |
|
|
|
5.0-5.75 years |
|
|
| Schedule of Restricted Stock Units Grant |
Schedule
of Restricted Stock Units Grant
|
|
|
|
|
Weighted |
|
|
|
|
|
|
Average |
|
|
|
Number of |
|
|
Grant Date |
|
|
|
Units |
|
|
Fair
Value |
|
| Outstanding at December 31,
2020 |
|
|
39,524 |
|
|
$ |
2.10 |
|
| Granted |
|
|
— |
|
|
|
— |
|
| Exercised and converted to common shares |
|
|
(39,524 |
) |
|
|
2.10 |
|
| Forfeited |
|
|
— |
|
|
|
— |
|
| Outstanding at December 31, 2021 |
|
|
— |
|
|
|
— |
|
| Granted |
|
|
96,114 |
|
|
|
1.61 |
|
| Exercised and converted to common shares |
|
|
(5,682 |
) |
|
|
4.40 |
|
| Forfeited |
|
|
— |
|
|
|
— |
|
| Outstanding at December 31, 2022 |
|
|
90,432 |
|
|
$ |
1.43 |
|
| Exercisable at December 31, 2022 |
|
|
5,682 |
|
|
$ |
4.40 |
|
|
| Summary of Common Stock Warrants |
The
following table shows a summary of common stock warrants for the years ended December 31, 2022 and 2021.
Summary of Common Stock Warrants
|
|
|
|
|
Weighted |
|
|
Weighted |
|
|
|
|
|
|
Average |
|
|
Average |
|
|
|
Number of |
|
|
Exercise |
|
|
Contractual |
|
|
|
Warrants |
|
|
Price |
|
|
Term
in Years |
|
| Outstanding at December 31,
2020 |
|
|
210,500 |
|
|
$ |
0.85938 |
|
|
|
2.54 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Granted |
|
|
3,426,690 |
|
|
$ |
5.42717 |
|
|
|
4.98 |
|
| Exercised |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Forfeited |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Cancelled |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Expired |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Outstanding at December 31, 2021 |
|
|
3,637,190 |
|
|
$ |
5.16281 |
|
|
|
4.63 |
|
| Granted |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Exercised |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Forfeited |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Cancelled |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Expired |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Outstanding at December 31, 2022 |
|
|
3,637,190 |
|
|
$ |
5.16281 |
|
|
|
3.65 |
|
| Exercisable at December 31, 2022 |
|
|
3,637,190 |
|
|
$ |
5.16281 |
|
|
|
3.65 |
|
|