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 |
|
|