Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Details Narrative)

v3.21.2
Stock-Based Compensation (Details Narrative) - USD ($)
1 Months Ended 3 Months Ended 6 Months Ended
Mar. 24, 2021
Jun. 30, 2021
Mar. 31, 2021
Jun. 30, 2021
Shares reserved for issuance   1,250,000   1,250,000
Estimated fair value of common stock price per share   $ 5.74   $ 5.74
Risk-free interest rate       0.90%
Expected term       5 years 6 months
Volatility rate       121.00%
Dividend yield       0%
Issuance of stock option       1,648,213
Fair market value option percentage       100
Vesting period 4 years     4 years
Options granted exercisable maximum term       10 years
Options [Member]        
Unrecognized compensation cost   $ 992,538   $ 992,538
Weighted average grant date fair value   $ 4.98   $ 4.98
Unrecognized compensation cost, weighted average amortization period       2.5 years
C-Corporation        
Share based compensation   $ 279,812    
Series B common units profits interests converted 277,448      
Stock options issued upon conversion of series B common units profits interests 277,448      
Incremental stock based compensation expense     $ 1,339,993  
Conversion of vested units to fully vested common stock 65,300      
Conversion of vested units to fully vested common stock, exercise price $ 5.74      
Conversion of vested units to fully vested common stock, exercise period 10 years      
C-Corporation | Minimum        
Conversion of series B common units profits interests, exercise price $ 5.74      
C-Corporation | Maximum        
Conversion of series B common units profits interests, exercise price $ 6.314