Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2021
Share-based Payment Arrangement, Disclosure [Abstract]  
Schedule of Option Activity

The following table summarizes option activity during the three months ended March 31, 2021:

 

    Number of Options     Weighted Average Exercise Price     Weighted Average Fair Value     Weighted Average Remaining Contractual Life (Years)  
Outstanding at December 31, 2020     1,300,588     $ 2.44     $ 1.24          
Granted     -       -       -          
Expired     -       -       -          
Forfeited/Cancelled     -       -       -          
Exercised     (65,891 )     2.26       1.07          
Outstanding at March 31, 2021     1,234,697     $ 2.15     $ 1.25       7.68  
                                 
Exercisable at March 31, 2021     938,030     $ 2.20     $ 1.19       7.42  
Schedule of Outstanding Restricted Stock Units and Related Activity

The following table sets forth the outstanding RSUs and related activity for the three months ended March 31, 2021:

 

    Number of RSUs     Weighted Average Grant Date Fair Value  
Outstanding at December 31, 2020     522,500     $ 10.49  
Granted     480,000       10.40  
Vested     (68,750 )     10.62  
Forfeited/Cancelled     -       -  
Outstanding at March 31, 2021     933,750     $ 10.43  
Schedule of Recognized Stock-based Compensation Expense

The Company recognized stock-based compensation expense related to the types of awards discussed above as follows:

 

    Three Months Ended March 31,  
    2021     2020  
Options   $ 76,672     $ 401,630  
Restricted stock units     1,396,440       -  
Warrants     -       -  
Stock     39,900       31,193  
Total stock-based compensation expense   $ 1,513,012     $ 432,823