Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Details Narrative)

v3.23.2
Stock-Based Compensation (Details Narrative) - USD ($)
1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Nov. 06, 2022
Oct. 07, 2022
Jun. 30, 2022
Jun. 17, 2022
Jun. 30, 2021
May 11, 2021
Apr. 09, 2021
Aug. 12, 2020
Aug. 01, 2020
Jul. 15, 2020
Jul. 14, 2020
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Jun. 06, 2023
Mar. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                                          
Shares outstanding 428,229                           428,229   428,229   389,479    
Stock option vested exercisable term                                 21 months        
Stock based compensation                             $ 280,060 $ 424,094 $ 557,040 $ 763,766      
Number of fully vested option exercisable 301,979                           301,979   301,979   281,979    
Share based compensation vesting rights, percentage                                 12.50%        
Total deferred compensation expense for outstanding value of unvested stock options                                 $ 517,000        
Intrinsic value of exercisable but unexercised in-the-money stock options $ 7,500                           $ 7,500   $ 7,500        
Fair market value, per share                                 $ 5.88        
Outstanding stock options to acquire shares of common stock not vested                                         126,250
Common Stock [Member]                                          
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                                          
Stock price per share $ 57.00                           $ 57.00   57.00        
Director [Member]                                          
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                                          
Stock options description                                   the Board of Directors, in accordance with the Company’s cash and equity compensation package for members of the Board of Directors, granted to each of the five non-officer directors of the Company stock options to purchase 10,000 shares (a total of 50,000 shares) of the Company’s common stock, exercisable for a period of five years at an exercise price of $7.40 per share (the closing market price on the grant date), vesting 12.5% on the last day of each subsequent calendar quarter-end until fully vested, subject to continued service. The fair value of these stock options, as calculated pursuant to the Black-Scholes option-pricing model, was determined to be $316,700 ($6.334 per share), which is being charged to operations ratably from July 1, 2022 through June 30, 2024. During the three months ended June 30, 2023 and 2022, the Company recorded charges to general and administrative costs in the consolidated statement of operations of $23,655 and $0, respectively, with respect to these stock options. During the six months ended June 30, 2023 and 2022, the Company recorded charges to general and administrative costs in the consolidated statement of operations of $47,049 and $0, respectively, with respect to these stock options.      
Stock option vested exercisable term       5 years                                  
Fair value of stock options                           $ 10,000              
Stock price per share $ 5.88 $ 20.00   $ 50,000   $ 6.334             $ 50,000 $ 6.334 $ 5.88 $ 50,000 $ 5.88 $ 50,000      
Stock based compensation                                 $ 47,049   $ 0    
Stock options are exercisable price per share   $ 5.025                                      
Number of fully vested option exercisable 10,000 10,000                         10,000   10,000        
Director [Member] | Common Stock [Member]                                          
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                                          
Number of fully vested option exercisable   20,000                                      
Five Non Officer Directors [Member]                                          
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                                          
Stock options description           the Board of Directors, in accordance with the Company’s cash and equity compensation package for members of the Board of Directors, granted to each of the five non-officer directors of the Company stock options to purchase 10,000 shares (a total of 50,000 shares) of the Company’s common stock, exercisable for a period of five years at an exercise price of $30.30 per share (the closing market price on the grant date), vesting 12.5% on the last day of each subsequent calendar quarter-end until fully vested, subject to continued service. The fair value of these stock options, as calculated pursuant to the Black-Scholes option-pricing model, was determined to be $1,421,095 ($28.423 per share), which was charged to operations ratably from July 1, 2021 through June 30, 2023. During the three months ended June 30, 2023 and 2022, the Company recorded charges to general and administrative costs in the consolidated statement of operations of $106,290 and $177,150, respectively, with respect to these stock options. During the six months ended June 30, 2023 and 2022, the Company recorded charges to general and administrative costs in the consolidated statement of operations of $211,412 and $352,355, respectively, with respect to these stock options                              
Fair value of stock options   $ 43,264                     $ 316,700 $ 1,421,095              
Stock price per share   $ 4.326       $ 28.423               $ 28.423              
Stock based compensation                             $ 106,290 $ 177,150 $ 211,412 $ 352,355      
Stock options are exercisable price per share           $ 30.30               $ 30.30              
Number of fully vested option exercisable           10,000               10,000              
Non Officer Directors [Member]                                          
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                                          
Number of fully vested option exercisable           50,000               50,000              
BasvanderBaan [Member]                                          
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                                          
Stock options description         the Board of Directors appointed Bas van der Baan to the Board of Directors. In connection with his appointment to the Board of Directors, and in accordance with the Company’s cash and equity compensation package for members of the Board of Directors, Mr. Baan was granted stock options to purchase 25,000 shares of the Company’s common stock, exercisable for a period of five years at an exercise price of $7.40 per share (the closing market price on the grant date), vesting 50% on the grant date and the remainder vesting 12.5% on the last day of each subsequent calendar quarter-end until fully vested, subject to continued service. The fair value of these stock options, as calculated pursuant to the Black-Scholes option-pricing model, was determined to be $158,525 ($6.341 per share), of which $79,263 was attributable to the portion of the stock options fully vested on June 17, 2022 and was therefore charged to operations on that date. The remaining unvested portion of the fair value of the stock options is being charged to operations ratably from June 17, 2022 through June 30, 2024. During the three months ended June 30, 2023 and 2022, the Company recorded charges to general and administrative costs in the consolidated statement of operations of $9,695 and $80,647, respectively, with respect to these stock options. During the six months ended June 30, 2023 and 2022, the Company recorded charges to general and administrative costs in the consolidated statement of operations of $19,284 and $80,647, respectively, with respect to these stock options.                                
Fair value of stock options         $ 158,525                                
Stock price per share         $ 6.341                                
Stock based compensation                             9,695 80,647 19,284 80,647      
Stock options are exercisable price per share         $ 7.40                                
Number of fully vested option exercisable         25,000                                
Stock options granted to purchase common stock, issued         $ 79,263                                
Four Officers [Member]                                          
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                                          
Fair value of stock options   $ 262,560                                      
Stock price per share   $ 3.282                                      
Stock based compensation                             $ 16,352   $ 32,524        
Number of fully vested option exercisable   80,000                                   40,000  
Share based compensation vesting rights, percentage   25.00%                                      
Share based compensation issuance, percentage   25.00%                                      
Stock options granted to purchase common stock, issued   80,000                                      
Four Non Officers[Member]                                          
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                                          
Fair value of stock options $ 192,593                                        
Stock price per share $ 4.8131                           $ 4.8131   $ 4.8131        
Share based compensation vesting rights, percentage 12.50%                                        
Eric J. Forman [Member] | Employment Agreement [Member]                                          
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                                          
Stock options granted to purchase common stock, issued                     5,833                    
Stock options description                     On July 15, 2020, as amended on August 12, 2020, in connection with the employment agreement entered into with Eric J. Forman, Mr. Forman was granted stock options to purchase 5,833 shares of the Company’s common stock. The options can be exercised on a cashless basis. The options are exercisable for a period of five years at an exercise price of $71.40 per share, which was equal to the closing market price of the Company’s common stock on the grant date. The options vested 25% on August 12, 2020, 2021 and 2022, respectively, with the final 25% vesting on August 12, 2023, subject to continued service. The fair value of these stock options, as calculated pursuant to the Black-Scholes option-pricing model, was determined to be $400,855 ($68.718 per share), of which $100,214 was attributable to the portion of the stock options fully vested on August 12, 2020 and was therefore charged to operations on that date. The remaining unvested portion of the fair value of the stock options is being charged to operations ratably from August 12, 2020 through August 12, 2023. During the three months ended June 30, 2023 and 2022, the Company recorded charges to general and administrative costs in the consolidated statement of operations of $24,985 and $24,985, respectively, with respect to these stock options. During the six months ended June 30, 2023 and 2022, the Company recorded charges to general and administrative costs in the consolidated statement of operations of $49,695 and $49,695, respectively, with respect to these stock options                    
Stock option vested exercisable term                     5 years                    
Fair value of stock options                     $ 400,855                    
Stock price per share                     $ 68.718                    
Stock options fully vested amount, fair value                 $ 100,214                        
Stock based compensation                             $ 24,985 24,985 $ 49,695 49,695      
Dr. James Miser [Member] | Employment Agreement [Member]                                          
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                                          
Stock options granted to purchase common stock, issued                   8,333                      
Stock options description                   Dr. James S. Miser, M.D., Dr. Miser was granted stock options to purchase 8,333 shares of the Company’s common stock. The options can be exercised on a cashless basis. The options are exercisable for a period of five years at an exercise price of $71.40 per share, which was equal to the closing market price of the Company’s common stock on the effective date of the employment agreement. The options vested 25% on August 1, 2020, 2021 and 2022, respectively, with the final 25% vesting on August 1, 2023, subject to continued service. The fair value of these stock options, as calculated pursuant to the Black-Scholes option-pricing model, was determined to be $572,650 ($68.718 per share), of which $143,163 was attributable to the portion of the stock options fully vested on August 1, 2020 and was therefore charged to operations on that date. The remaining unvested portion of the fair value of the stock options is being charged to operations ratably from August 1, 2020 through August 1, 2023. During the three months ended June 30, 2023 and 2022, the Company recorded charges to general and administrative costs in the consolidated statement of operations of $35,693 and $35,693, respectively, with respect to these stock options. During the six months ended June 30, 2023 and 2022, the Company recorded charges to general and administrative costs in the consolidated statement of operations of $70,993 and $70,993, respectively, with respect to these stock options                      
Fair value of stock options                   $ 572,650                      
Stock price per share                   $ 68.718                      
Stock options fully vested amount, fair value                   $ 143,163                      
Stock based compensation                             35,693 35,693 70,993 70,993      
Stock options are exercisable price per share                   $ 71.40                      
Robert N. Weingarten [Member] | Employment Agreement [Member]                                          
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                                          
Stock options description                 On August 12, 2020, in connection with the employment agreement entered into with Robert N. Weingarten, Mr. Weingarten was granted stock options to purchase 5,833 shares of the Company’s common stock. The options can be exercised on a cashless basis. The options are exercisable for a period of five years at an exercise price of $71.40 per share, which was equal to the closing market price of the Company’s common stock on the grant date. The options vested 25% on August 12, 2020, 2021 and 2022, respectively, with the final 25% vesting on August 12, 2023, subject to continued service. The fair value of these stock options, as calculated pursuant to the Black-Scholes option-pricing model, was determined to be $400,855 ($68.718 per share), of which $100,214 was attributable to the portion of the stock options fully vested on August 12, 2020 and was therefore charged to operations on that date. The remaining unvested portion of the fair value of the stock options is being charged to operations ratably from August 12, 2020 through August 12, 2023. During the three months ended June 30, 2023 and 2022, the Company recorded charges to general and administrative costs in the consolidated statement of operations of $24,985 and $24,985, respectively, with respect to these stock options. During the six months ended June 30, 2023 and 2022, the Company recorded charges to general and administrative costs in the consolidated statement of operations of $49,695 and $49,695, respectively, with respect to these stock options                        
Fair value of stock options                 $ 400,855                        
Stock price per share                 $ 68.718                        
Stock options fully vested amount, fair value                 $ 100,214                        
Stock based compensation                             24,985 24,985 49,695 49,695      
Stock options are exercisable price per share                 $ 71.40                        
Mr Schwartberg [Member] | Director [Member]                                          
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                                          
Stock options description               On April 9, 2021, the Board of Directors appointed Gil Schwartzberg to fill the vacancy created by a former director’s resignation. In connection with his appointment to the Board of Directors, and in accordance with the Company’s cash and equity compensation package for members of the Board of Directors, Mr. Schwartzberg was granted stock options to purchase 25,000 shares of the Company’s common stock, exercisable for a period of five years at an exercise price of $32.00 per share (the closing market price on the grant date), vesting 50% on the grant date and the remainder vesting 12.5% on the last day of each subsequent calendar quarter-end until fully vested, subject to continued service. The fair value of these stock options, as calculated pursuant to the Black-Scholes option-pricing model, was determined to be $753,611 ($30.144 per share), of which $376,800 was attributable to the portion of the stock options fully vested on April 9, 2021 and was therefore charged to operations on that date. The remaining unvested portion of the fair value of the stock options was being charged to operations ratably from April 9, 2021 through June 30, 2023. However, vesting of these stock options terminated on October 30, 2022, the date that Mr. Schwartzberg died. During the three months and six months ended June 30, 2022, the Company recorded charges to general and administrative costs in the consolidated statement of operations of $42,228 and $83,992, respectively, with respect to these stock options                          
Fair value of stock options               $ 753,611                          
Stock price per share               $ 30.144                          
Stock options fully vested amount, fair value               $ 376,800                          
Stock based compensation                               42,228   83,992      
Stock options are exercisable price per share               $ 32.00                          
Number of fully vested option exercisable               25,000                          
Ms.Regina Brown [Member] | Director [Member]                                          
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                                          
Stock options description             the Board of Directors appointed Regina Brown to the Board of Directors. In connection with her appointment to the Board of Directors, and in accordance with the Company’s cash and equity compensation package for members of the Board of Directors, Ms. Brown was granted stock options to purchase 25,000 shares of the Company’s common stock, exercisable for a period of five years at an exercise price of $28.00 per share (the closing market price on the grant date), vesting 50% on the grant date and the remainder vesting 12.5% on the last day of each subsequent calendar quarter-end until fully vested, subject to continued service. The fair value of these stock options, as calculated pursuant to the Black-Scholes option-pricing model, was determined to be $658,363 ($26.335 per share), of which $329,188 was attributable to the portion of the stock options fully vested on May 11, 2021 and was therefore charged to operations on that date. The remaining unvested portion of the fair value of the stock options was charged to operations ratably from May 11, 2021 through June 30, 2023. During the three months ended June 30, 2023 and 2022, the Company recorded charges to general and administrative costs in the consolidated statement of operations of $38,405 and $38,405, respectively, with respect to these stock options. During the six months ended June 30, 2023 and 2022, the Company recorded charges to general and administrative costs in the consolidated statement of operations of $76,388 and $76,388, respectively, with respect to these stock options.                            
Fair value of stock options             $ 658,363                            
Stock price per share             $ 26.335                            
Stock options fully vested amount, fair value             $ 329,188                            
Stock based compensation                             $ 38,405 $ 38,405 $ 76,388 $ 76,388      
Stock options are exercisable price per share             $ 28.00                            
Number of fully vested option exercisable             25,000                            
2020 Stock Incentive Plan [Member]                                          
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                                          
Common shares avaliable for issuable     180,000                                    
Stock options granted to purchase common stock, issued     413,333                                    
Shares outstanding 300,313                           300,313   300,313        
Shares were available for issuance 113,020                           113,020   113,020        
2020 Stock Incentive Plan [Member] | Maximum [Member]                                          
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                                          
Number of restricted stock issued                       233,333