Quarterly report pursuant to Section 13 or 15(d)

Stockholders??? Equity (Tables)

v3.23.1
Stockholders’ Equity (Tables)
3 Months Ended
Mar. 31, 2023
Stockholders' Equity Note [Abstract]  
Schedule of assumptions used in the black-scholes model
    Three months
ended,
 
    March 31,
2023
 
Stock price   $ 1.85  
Risk-free interest rate     4.21-4.70 %
Volatility     50.64-55.34 %
Expected life in years     0.12-1.63  
Dividend yield     0.00 %

  

    Three months ended,  
    March 31,
2023
 
Stock price   $ 1.46-2.06  
Risk-free interest rate     3.61-4.82 %
Volatility     49.83-58.92 %
Expected life in years     0.12-6.25  
Dividend yield     0.00 %

 

Schedule of warrants activity
                Weighted  
          Weighted     Average  
    Number of     Average     Remaining  
    Shares Under     Exercise     Contractual  
    Warrant     Price     Life  
Balance on January 1, 2023     1,901,802     $ 7.63       7.47  
Issued     586,440     $ 9.95       1.06  
Expired     (122,150 )   $ 2.57          
Balance on March 31, 2023     2,366,092     $ 7.96       6.03  

 

Schedule of stock option activity
                Weighted  
          Weighted     Average  
    Number of     Average     Remaining  
    Shares Under     Exercise     Contractual  
    Option     Price     Life  
Balance on January 1, 2023     2,412,286     $ 5.77       7.58  
Granted     3,206,821     $ 3.80          
Forfeited     (153,709 )   $ 5.01          
Balance on March 31, 2023     5,465,398     $ 4.64       8.47  
Vested and Exercisable at March 31, 2023     2,143,939     $ 6.13       2.73  

 

Schedule of Share based compensation expense for stock options
    Three Months Ended
March 31,
 
    2023     2022  
General and administrative   $ 119,199     $ 80,480  
Sales and marketing     129,747       135,983  
Research and development     53,291       116,179  
Cost of goods sold     2,692      
-
 
Total stock-based expense related to options   $ 304,929     $ 332,642  

 

Schedule of restricted stock unit activity
    RSUs     Weighted
Average
Grant Date
Fair Value
    Weighted
Average
Vesting
Period
(Years)
 
Unvested balance at January 1, 2023     1,110,027     $ 6.89       1.52  
Granted     69,000     $ 2.06          
Vested     (43,040 )   $ 2.45          
Cancelled     (14,800 )   $ 7.19          
Unvested balance at March 31, 2023     1,121,187     $ 6.76       1.25  

 

Schedule of stock based compensation RSUs
    Three Months Ended
March 31,
 
    2023     2022  
General and administrative   $ 617,839     $ 646,852  
Sales and marketing     9,395       -  
Research and development     331,193       348,901  
Total stock-based expense related to restricted stock units   $ 958,427     $ 995,753