Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2020
Share-based Payment Arrangement, Disclosure [Abstract]  
Schedule of Fair Value of Options Weighted Average Assumptions

The fair values for the options granted were estimated at the date of grant using the Black Scholes option-pricing model with the following weighted average assumptions:

 

    Three Months Ended
March 31, 2020		  
Risk free interest rate     1.56 %
Expected life (in years)     10.0  
Expected volatility     63.27 %
Expected dividend yield     0.00 %
Stock price   $ 3.96  
Schedule of Option Activity

The following table summarizes option activity during the year ended December 31, 2019 and the three months ended March 31, 2020, respectively.

 

    Options
Outstanding		     Weighted
Average
Exercise
Price		     Weighted
Average
Fair
Value		     Weighted
Average
Remaining
Contractual
Life (years)		  
Outstanding at January 1, 2019     1,172,707     $ 2.23     $ 1.09       8.72  
Options granted     890,000       1.07       0.52       9.66  
Expired     —       —       —       —  
Forfeited options     (40,890 )     (3.85 )     (1.59 )     (8.04 )
Exercised     —       —       —       —  
Outstanding at December 31, 2019     2,021,817     $ 1.69     $ 0.83       8.73  
                                 
Options granted     100,000       3.96       2.80       9.87  
Expired     —       —       —       —  
Forfeited options     —       —       —       —  
Exercised     —       —       —       —  
                                 
Outstanding at March 31, 2020     2,121,817     $ 1.79     $ 0.92       8.54  
Schedule of Warrant Activity

The following table summarizes warrant activity during the year ended December 31, 2019 and the three months ended March 31, 2020, respectively.

 

    Warrants
Outstanding		     Weighted
Average
Exercise
Price		     Weighted
Average
Fair
Value		     Weighted
Average
Remaining
Contractual
Life (years)		  
Outstanding at January 1, 2019     483,535       4.92       1.99       3.29  
Warrants issued     500,000       1.53       1.46       5.00  
Expired     —       —       —       —  
Forfeited warrants     —       —       —       —  
Exercised     —       —       —       —  
Outstanding at December 31, 2019     983,535     $ 1.44     $ 1.03       3.34  
                                 
Warrants issued     —       —       —       —  
Expired     —       —       —       —  
Forfeited warrants     —       —       —       —  
Exercised     (784,445 )     (1.28 )     (1.19 )     (2.90 )
                                 
Outstanding at March 31, 2020     199,090     $ 2.09     $ 0.38       3.85  
Schedule of Unrecognized Stock-based Compensation

The Company expects to recognize the aggregate amount of this compensation expense over the next years in accordance with contractual provisions and vesting as follows:

 

Year   Amount  
2020   $ 247,772  
2021     90,181  
Total   $ 337,953