OptimizeRx (OPRX) 10-Q 5 Aug 20 2020 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 03, 2020
Document Information Line Items
Entity Registrant Name	OptimizeRx Corp
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		14,816,861
Amendment Flag	false
Entity Central Index Key	0001448431
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity File Number	001-38543
Entity Incorporation, State or Country Code	NV
Entity Interactive Data Current	Yes

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Current Assets
Cash and cash equivalents	$ 14,114,294	$ 18,852,680
Accounts receivable, net	10,805,191	7,418,025
Prepaid expenses	2,701,249	871,043
Total Current Assets	27,620,734	27,141,748
Property and equipment, net	156,550	176,014
Other Assets
Goodwill	14,740,031	14,740,031
Technology assets, net	5,722,762	6,238,453
Patent rights, net	2,442,409	2,550,587
Other intangible assets, net	4,835,327	5,151,102
Right of use assets, net	503,506	559,863
Other assets and deposits	35,943	80,727
Total Other Assets	28,279,978	29,320,763
TOTAL ASSETS	56,057,262	56,638,525
Current Liabilities
Accounts payable – trade	496,742	492,995
Accrued expenses	2,044,335	1,800,635
Revenue share payable	3,496,489	1,618,438
Current portion of lease obligations	119,512	115,431
Current portion of contingent purchase price payable	5,360,812	1,500,000
Deferred revenue	648,692	580,014
Total Current Liabilities	12,166,582	6,107,513
Non-current Liabilities
Lease obligations, net of current portion	387,654	448,753
Contingent purchase price payable, net of current portion		5,220,000
Total Non-current Liabilities	387,654	5,668,753
Total Liabilities	12,554,236	11,776,266
Commitments and contingencies (See Note 6)
Stockholders’ Equity
Preferred stock, $0.001 par value, 10,000,000 shares authorized, no issued and outstanding at June 30, 2020 or December 31, 2019
Common stock, $0.001 par value, 500,000,000 shares authorized, 14,752,600 and 14,600,579 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively	14,753	14,601
Additional paid-in-capital	80,194,282	78,272,268
Accumulated deficit	(36,706,009)	(33,424,610)
Total Stockholders’ Equity	43,503,026	44,862,259
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 56,057,262	$ 56,638,525

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares outstanding	14,752,600	14,600,579
Common stock, shares issued	14,752,600	14,600,579

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
NET REVENUE	$ 8,783,230	$ 7,006,291	$ 16,367,832	$ 12,215,725
COST OF REVENUES	3,639,016	2,687,143	6,880,779	4,270,623
GROSS MARGIN	5,144,214	4,319,148	9,487,053	7,945,102
OPERATING EXPENSES	6,200,027	3,839,105	12,802,118	7,332,894
INCOME (LOSS) FROM OPERATIONS	(1,055,813)	480,043	(3,315,065)	612,208
OTHER INCOME (EXPENSE)
Interest income	8,345	33,574	63,666	55,938
Change in Fair Value of Contingent Consideration	(30,000)	(107,000)	(30,000)	(255,000)
TOTAL OTHER INCOME (EXPENSE)	(21,655)	(73,426)	33,666	(199,062)
INCOME(LOSS) BEFORE PROVISION FOR INCOME TAXES	(1,077,468)	406,617	(3,281,399)	413,146
PROVISION FOR INCOME TAXES
NET INCOME (LOSS)	$ (1,077,468)	$ 406,617	$ (3,281,399)	$ 413,146
WEIGHTED AVERGE SHARES OUTSTANDING
BASIC (in Shares)	14,667,216	12,743,379	14,638,359	12,412,442
DILUTED (in Shares)	14,667,216	13,806,761	14,638,359	13,467,562
EARNINGS (LOSS) PER SHARE
BASIC (in Dollars per share)	$ (0.07)	$ 0.03	$ (0.22)	$ 0.03
DILUTED (in Dollars per share)	$ (0.07)	$ 0.03	$ (0.22)	$ 0.03

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock	Additional Paid in Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2018	$ 12,039	$ 48,725,211	$ (30,278,805)	$ 18,458,445
Balance (in Shares) at Dec. 31, 2018	12,038,618
Shares issued as board compensation	$ 8	106,026		106,034
Shares issued as board compensation (in Shares)	8,336
Cumulative effect of change in accounting principle related to lease accounting			(3,229)	(3,229)
Shares issued for restricted stock awards	$ 130	(130)
Shares issued for restricted stock awards (in Shares)	130,001
Shares issued for stock options exercised	$ 102	343,683		343,785
Shares issued for stock options exercised (in Shares)	101,878
Stock-based compensation expense		530,312		530,312
Net income (loss)			6,529	6,529
Balance at Mar. 31, 2019	$ 12,279	49,705,102	(30,275,505)	19,441,876
Balance (in Shares) at Mar. 31, 2019	12,278,833
Balance at Dec. 31, 2018	$ 12,039	48,725,211	(30,278,805)	18,458,445
Balance (in Shares) at Dec. 31, 2018	12,038,618
Net income (loss)				413,146
Balance at Jun. 30, 2019	$ 14,117	71,764,534	(29,868,888)	41,909,763
Balance (in Shares) at Jun. 30, 2019	14,116,739
Balance at Mar. 31, 2019	$ 12,279	49,705,102	(30,275,505)	19,441,876
Balance (in Shares) at Mar. 31, 2019	12,278,833
Shares issued as board compensation	$ 8	135,035		135,043
Shares issued as board compensation (in Shares)	8,336
Public offering of common shares for cash, net of offering costs	$ 1,769	21,302,057		21,303,826
Public offering of common shares for cash, net of offering costs (in Shares)	1,769,275
Shares issued for stock options exercised	$ 61	214,253		214,314
Shares issued for stock options exercised (in Shares)	60,295
Stock-based compensation expense		408,087		408,087
Net income (loss)			406,617	406,617
Balance at Jun. 30, 2019	$ 14,117	71,764,534	(29,868,888)	41,909,763
Balance (in Shares) at Jun. 30, 2019	14,116,739
Balance at Dec. 31, 2019	$ 14,601	78,272,268	(33,424,610)	44,862,259
Balance (in Shares) at Dec. 31, 2019	14,600,579
Shares issued as board compensation	$ 11	99,989		100,000
Shares issued as board compensation (in Shares)	11,136
Shares issued for stock options exercised	$ 35	112,117		112,152
Shares issued for stock options exercised (in Shares)	35,032
Stock-based compensation expense		754,512		754,512
Net income (loss)			(2,203,931)	(2,203,931)
Balance at Mar. 31, 2020	$ 14,647	79,238,886	(35,628,541)	43,624,992
Balance (in Shares) at Mar. 31, 2020	14,646,747
Balance at Dec. 31, 2019	$ 14,601	78,272,268	(33,424,610)	44,862,259
Balance (in Shares) at Dec. 31, 2019	14,600,579
Net income (loss)				(3,281,399)
Balance at Jun. 30, 2020	$ 14,753	80,194,282	(36,706,009)	43,503,026
Balance (in Shares) at Jun. 30, 2020	14,752,600
Balance at Mar. 31, 2020	$ 14,647	79,238,886	(35,628,541)	43,624,992
Balance (in Shares) at Mar. 31, 2020	14,646,747
Shares issued as board compensation	$ 8	100,019		100,027
Shares issued as board compensation (in Shares)	7,748
Shares issued for stock options exercised	$ 56	174,775		174,831
Shares issued for stock options exercised (in Shares)	55,731
Stock-based compensation expense	$ 42	680,602		680,644
Stock-based compensation expense	42,374
Net income (loss)			(1,077,468)	(1,077,468)
Balance at Jun. 30, 2020	$ 14,753	$ 80,194,282	$ (36,706,009)	$ 43,503,026
Balance (in Shares) at Jun. 30, 2020	14,752,600

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss)	$ (3,281,399)	$ 413,146
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation, amortization, and non-cash lease expense	1,040,463	425,873
Stock-based compensation	1,435,156	938,399
Stock issued for board services	200,027	241,077
Provision for loss on accounts receivable	40,000
Change in fair value of contingent consideration	30,000	255,000
Changes in:
Accounts receivable	(3,427,166)	(966,658)
Prepaid expenses and other assets	(1,785,422)	(202,036)
Accounts payable	3,747	785
Revenue share payable	1,878,051	55,824
Accrued expenses and other liabilities	186,682	(511,976)
Deferred revenue	68,678	158,766
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	(3,611,183)	808,200
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of equipment	(24,998)	(47,739)
Purchase of intangible assets		(1,000,000)
NET CASH USED IN INVESTING ACTIVITIES	(24,998)	(1,047,739)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock, net of commission costs	286,983	22,163,636
Expenses related to issuance cost of common stock		(301,711)
Payment of contingent consideration	(1,389,188)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	(1,102,205)	21,861,925
NET INCREASE IN CASH AND CASH EQUIVALENTS	(4,738,386)	21,622,386
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD	18,852,680	8,914,034
CASH AND CASH EQUIVALENTS - END OF PERIOD	14,114,294	30,536,420
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest
Cash paid for income taxes
Intangible asset additions included in accounts payable		500,000
Non-cash effect of cumulative adjustments to accumulated deficit		3,229
Lease liabilities arising from right of use assets		$ 672,809

Nature of Business and Basis of

Nature of Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF BUSINESS AND BASIS OF PRESENTATION	NOTE 1 – NATURE OF BUSINESS AND BASIS OF PRESENTATION The accompanying condensed consolidated financial statements include OptimizeRx Corporation and its wholly owned subsidiaries (collectively, the “Company”, “we”, “our”, or “us”). We are a leading provider of digital health messaging via electronic health records (EHRs), providing a direct channel for pharmaceutical companies to communicate with healthcare providers. Our cloud-based solution supports patient adherence to medications by providing real-time access to financial assistance, prior authorization, education and critical clinical information. Our network is comprised of leading EHR platforms and provides more than half a million healthcare providers access to these services within their workflow at the point of care. The condensed consolidated financial statements for the three and six months ended June 30, 2020 and 2019 are unaudited and have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments necessary to present fairly our consolidated financial position as of June 30, 2020, and our results of operations, changes in stockholders’ equity for the three and six months ended June 30, 2020 and 2019 and the statements of cash flows for the six months ended June 30, 2020 and 2019 have been made. Those adjustments consist of normal and recurring adjustments. The condensed consolidated balance sheet as of December 31, 2019 has been derived from the audited consolidated balance sheet as of that date. Certain information and note disclosures, including a detailed discussion about the Company’s significant accounting policies, normally included in our annual financial statements prepared in accordance with generally accepted accounting principles (“GAAP”) have been condensed or omitted. These consolidated condensed financial statements should be read in conjunction with a reading of the financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019, as filed with the U.S. Securities and Exchange Commission on March 26, 2020. We operate in one reportable segment. The results of operations for the three and six months ended June 30, 2020 are not necessarily indicative of the results to be expected for the full year. Certain reclassifications have been made in the prior period’s condensed consolidated financial statements to conform to the current period’s presentation.

New Accounting Standards

New Accounting Standards	6 Months Ended
	Jun. 30, 2020
Accounting Changes and Error Corrections [Abstract]
NEW ACCOUNTING STANDARDS	NOTE 2 – NEW ACCOUNTING STANDARDS Recently adopted In June 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. ASU 2016-13 provides for a new impairment model that requires measurement and recognition of expected credit losses for most financial assets and certain other instruments, including but not limited to accounts receivable and available for sale debt securities. ASU 2016-13 was effective for the Company on January 1, 2020. The adoption of this standard did not have a material effect on our financial position, results of operations, or cash flows. In August 2019, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement. ASU 2018-13 modifies the disclosure requirements on fair value measurements and became effective for the Company on January 1, 2020. The adoption of this standard did not have a material effect on our financial position, results of operations, or cash flows. In January 2017, the FASB issued ASU 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. ASU 2017-04 simplifies the subsequent measurement of goodwill by eliminating the second step of the goodwill impairment test. The second step measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. Under ASU 2017-04, a company will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value. ASU 2017-04 will be applied prospectively and is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The adoption of this standard did not have a material effect on our financial position, results of operations, or cash flows. Not yet Adopted In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes

Leases

Leases	6 Months Ended
	Jun. 30, 2020
Leases (Textual)
LEASES	NOTE 3 – LEASES We have operating leases for office space in three multitenant facilities with lease terms greater than 12 months, which are recorded as assets and liabilities on our balance sheet. These leases include our corporate headquarters, located in Rochester, Michigan, a customer service facility in Cranbury, New Jersey, and a technical facility in Zagreb, Croatia. Certain leases contain renewal options and, for the headquarters lease, we have assumed renewal. Lease-related assets, or right-of-use assets, are recognized at the lease commencement date at amounts equal to the respective lease liabilities, adjusted for prepaid lease payments, initial direct costs, and lease incentives received. Lease-related liabilities are recognized at the present value of the remaining contractual fixed lease payments, discounted using our incremental borrowing rate. Amortization of the right of use assets is recognized as non-cash lease expense on a straight-line basis over the lease term, while variable lease payments are expensed as incurred. Short term lease costs include month to month leases in shared office space facilities, such as WeWork, or similar locations. For the three and six months ended June 30, 2020, the Company’s lease cost consisted of the following components, each of which is included in operating expenses within the Company’s condensed consolidated statements of operations: Three Months Six Months Operating lease cost $ 32,814 $ 65,627 Short-term lease cost (1) 36,186 80,815 Total lease cost $ 69,000 $ 146,442 (1) Short-term lease cost includes any lease with a term of less than 12 months. For the three and six months ended June 30, 2019, the Company’s lease cost consisted of the following components, each of which is included in operating expenses within the Company’s condensed consolidated statements of operations: Three Months Six Months Operating lease cost $ 32,591 $ 64,175 Short-term lease cost (1) 9,951 18,892 Total lease cost $ 42,542 $ 83,067 (1) Short-term lease cost includes any lease with a term of less than 12 months. The table below presents the future minimum lease payments to be made under operating leases as of June 30, 2020: As of June 30, 2020 2020(a) $ 69,119 2021 140,367 2022 102,367 2023 99,209 2024 80,375 Thereafter 70,224 Total 561,661 Less: imputed interest 54,495 Total lease liabilities $ 507,166 (a) For the six-month period beginning July 1, 2020. The weighted average remaining lease term at June 30, 2020 for operating leases is 4.7 years and the weighted average discount rate used in calculating the operating lease asset and liability is 4.5%. Cash paid for amounts included in the measurement of lease liabilities was $57,019 and $64,175 for the six months ending June 30, 2020 and 2019, respectively. For the six months ended June 30, 2020 and 2019, payments on lease obligations were $68,900 and $51,937, respectively, and amortization on the right of use assets was $56,357 and $52,592, respectively.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
STOCKHOLDERS' EQUITY	NOTE 4 – STOCKHOLDERS’ EQUITY During the quarters ended June 30, 2020, and March 31, 2020 we issued 55,731 shares and 35,032 shares of our common stock, respectively, and received proceeds of $174,775 and $112,117, respectively, in connection with the exercise of stock options under our 2013 equity compensation plan. During the quarters ended June 30, 2019 and March 31, 2019, we issued 60,295 shares and 101,878 shares of our common stock, respectively, and received proceeds of $214,314 and $343,785, respectively, in connection with the exercise of stock options under our 2013 equity compensation plan. We also issued 130,001 shares of our common stock in the quarter ended March 31, 2019 in connection with restricted stock awards awarded in 2018. We also issued 42,374 shares in the six months ended June 30, 2020 in connection with restricted stock awards as described in more detail in Note 5 – Stock Based Compensation. Our Director Compensation Plan calls for issuance of shares of common stock each quarter to each independent director. In 2020, we issued 11,136 shares valued at $100,000 in the quarter ended March 31, 2020 and 7,748 shares valued at $100,027 in the quarter ended June 30, 2020. In 2019, we issued 8,336 shares each quarter, valued at $106,834 and $135,043 for the quarters ended March 31, and June 30, respectively. During the quarter ended June 30, 2019, in an underwritten primary offering, we issued 1,769,275 shares of our common stock for gross proceeds of $23,000,575. In connection with this transaction, we incurred equity issuance costs of $1,696,749 related to payments to the underwriter, advisors and legal fees associated with the transaction, resulting in net proceeds to the Company of $21,303,826.

Stock Based Compensation

Stock Based Compensation	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
STOCK BASED COMPENSATION	NOTE 5 – STOCK BASED COMPENSATION We use the fair value method to account for stock-based compensation. We recorded $1,021,787 and $907,109 in compensation expense in the six months ended June 30, 2020 and 2019, respectively, related to options issued under our stock-based incentive compensation plan. This includes expense related to options issued in prior years for which the requisite service period for those options includes the current period as well as options issued in the current period. The fair value of these instruments was calculated using the Black-Scholes option pricing model. There is $1,867,549 of remaining expense related to unvested options to be recognized in the future over a weighted average remaining period of approximately 1.3 years. The total intrinsic value of outstanding options at June 30, 2020 was $12,281,047. The company also recorded expense related to restricted stock awards of $413,369 and $31,290 for the six months ended June 30, 2020 and 2019, respectively. As of June 30, 2020, there was $1,039,157 of remaining expense related to unvested restricted stock awards to be recognized in the future related to 132,374 shares of restricted stock awards that were unvested at June 30, 2020. A total of 42,374 shares related to these restricted stock awards vested in 2020 and were issued during the six months ended June 30, 2020.

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	NOTE 6 – CONTINGENCIES Litigation The Company is not currently involved in any legal proceedings.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE	NOTE 7 – EARNINGS (LOSS) PER SHARE The following table sets forth the computation of basic and diluted earnings (loss) per share. Three Months Ended Six Months Ended 2020 2019 2020 2019 Numerator Net income (loss) $ (1,077,468 ) $ 406,617 $ (3,281,399 ) $ 413,146 Denominator Weighted average shares outstanding used in computing earnings per share Basic 14,667,216 12,743,379 14,638,359 12,412,442 Effect of dilutive stock options, warrants, and unvested restricted stock awards - 1,063,382 - 1,055,120 Diluted 14,667,216 13,806,761 14,638,359 13,467,562 Earnings (loss) per share Basic $ (0.07 ) $ 0.03 $ (0.22 ) $ 0.03 Diluted $ (0.07 ) $ 0.03 $ (0.22 ) $ 0.03 No calculation of diluted earnings per share is included for 2020 as the effect of the calculation would be antidilutive. The number of common shares potentially issuable upon the exercise of certain options that were excluded from the diluted loss per common share calculation in 2020 was 826,777 and 782,575 shares in the three and six months ended June 30, 2020, respectively, related to options, and 132,374 shares related to restricted stock for the three and six months ended June 30, 2020. This results in total shares excluded from the calculation of 959,151 and 914,949 for the three and six month periods ended June 30, 2020, respectively.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 8 – SUBSEQUENT EVENTS In July 2020, we received proceeds of $193,768 and issued 64,261 shares of common stock in conjunction with the exercise of stock options. In accordance with ASC 855-10, we have analyzed events and transactions that occurred subsequent to June 30, 2020 through the date these financial statements were issued and have determined that we do not have any other material subsequent events to disclose or recognize in these financial statements.

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2020
Leases of Lessee Disclosure [Abstract]
Schedule of lease cost	Three Months Six Months Operating lease cost $ 32,814 $ 65,627 Short-term lease cost (1) 36,186 80,815 Total lease cost $ 69,000 $ 146,442 Three Months Six Months Operating lease cost $ 32,591 $ 64,175 Short-term lease cost (1) 9,951 18,892 Total lease cost $ 42,542 $ 83,067 (1) Short-term lease cost includes any lease with a term of less than 12 months.
Schedule of future minimum lease payments	As of June 30, 2020 2020(a) $ 69,119 2021 140,367 2022 102,367 2023 99,209 2024 80,375 Thereafter 70,224 Total 561,661 Less: imputed interest 54,495 Total lease liabilities $ 507,166 (a) For the six-month period beginning July 1, 2020.

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Schedule of basic and diluted net income (loss) per share	Three Months Ended Six Months Ended 2020 2019 2020 2019 Numerator Net income (loss) $ (1,077,468 ) $ 406,617 $ (3,281,399 ) $ 413,146 Denominator Weighted average shares outstanding used in computing earnings per share Basic 14,667,216 12,743,379 14,638,359 12,412,442 Effect of dilutive stock options, warrants, and unvested restricted stock awards - 1,063,382 - 1,055,120 Diluted 14,667,216 13,806,761 14,638,359 13,467,562 Earnings (loss) per share Basic $ (0.07 ) $ 0.03 $ (0.22 ) $ 0.03 Diluted $ (0.07 ) $ 0.03 $ (0.22 ) $ 0.03

Leases (Details)

Leases (Details) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Leases Details (Textual)
Weighted average remaining lease term	4 years 255 days
Weighted average discount rate	4.50%
Cash paid	$ 57,019	$ 64,175
Payments on lease obligations	68,900	51,937
Amortization on right of use assets	$ 56,357	$ 52,592

Leases (Details) - Schedule of

Leases (Details) - Schedule of lease cost - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Schedule of lease cost [Abstract]
Operating lease cost		$ 32,814	$ 32,591	$ 65,627	$ 64,175
Short-term lease cost	[1]	36,186	9,951	80,815	18,892
Total lease cost		$ 69,000	$ 42,542	$ 146,442	$ 83,067
[1]	Short-term lease cost includes any lease with a term of less than 12 months.

Leases (Details) - Schedule o_2

Leases (Details) - Schedule of future minimum lease payments	Jun. 30, 2020USD ($)
Schedule of future minimum lease payments [Abstract]
2020	$ 69,119	[1]
2021	140,367
2022	102,367
2023	99,209
2024	80,375
Thereafter	70,224
Total	561,661
Less: imputed interest	54,495
Total lease liabilities	$ 507,166
[1]	For the six-month period beginning July 1, 2020.

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Stockholders' Equity (Textual)
Issued shares of common stock in connection with cashless exercise	35,032	101,878	55,731	60,295
Net proceeds issuance of common stock (in Dollars)	$ 112,117		$ 174,775
Restricted stock awards		130,001	42,374
Shares of common, desrcription				an underwritten primary offering, we issued 1,769,275 shares of our common stock for gross proceeds of $23,000,575. In connection with this transaction, we incurred equity issuance costs of $1,696,749 related to payments to the underwriter, advisors and legal fees associated with the transaction, resulting in net proceeds to the Company of $21,303,826.
Independent Directors [Member]
Stockholders' Equity (Textual)
Issued shares of common stock in connection with cashless exercise	11,136
Net proceeds issuance of common stock (in Dollars)	$ 100,000	$ 343,785		$ 214,314
Restricted stock awards			8,336
Independent Directors [Member] | Board of Directors Chairman [Member]
Stockholders' Equity (Textual)
Issued shares of common stock in connection with cashless exercise	7,748
Net proceeds issuance of common stock (in Dollars)			$ 100,027
Independent Director One [Member]
Stockholders' Equity (Textual)
Stock issued during period, value, stock options exercised (in Dollars)		$ 106,834		$ 135,043

Stock Based Compensation (Detai

Stock Based Compensation (Details) - USD ($)	3 Months Ended	6 Months Ended
	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Stock Based Compensation (Details) (Textual)
Stock compensation recognized expense			$ 31,290
Remaining expense related to unvested options		$ 1,867,549
Weighted average contractual life		1 year 109 days
Intrinsic value of outstanding options		$ 12,281,047
Restricted stock awards (in Shares)	130,001	42,374
Stock-based incentive compensation plan [Member]
Stock Based Compensation (Details) (Textual)
Stock compensation recognized expense		$ 1,021,787	907,109
Restricted Stock [Member]
Stock Based Compensation (Details) (Textual)
Stock compensation recognized expense		$ 413,369
Remaining expense related to unvested options			$ 1,039,157
Restricted Stock Awards (in Shares)		132,374
Restricted stock awards (in Shares)		42,374

Earnings (Loss) Per Share (Deta

Earnings (Loss) Per Share (Details) - shares	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Net Income (Loss) per Share (Textual)
Diluted loss per common share	959,151	914,949
Options [Member]
Net Income (Loss) per Share (Textual)
Diluted loss per common share	826,777
Restricted Stock [Member]
Net Income (Loss) per Share (Textual)
Diluted loss per common share		782,575
Restricted Stock [Member]
Net Income (Loss) per Share (Textual)
Diluted loss per common share	132,374	132,374

Earnings (Loss) Per Share (De_2

Earnings (Loss) Per Share (Details) - Schedule of basic and diluted net income (loss) per share - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Numerator
Net income (loss) (in Dollars)	$ (1,077,468)	$ (2,203,931)	$ 406,617	$ 6,529	$ (3,281,399)	$ 413,146
Weighted average shares outstanding used in computing earnings per share
Basic	14,667,216		12,743,379		14,638,359	12,412,442
Effect of dilutive stock options, warrants, and unvested restricted stock awards			1,063,382			1,055,120
Diluted	14,667,216		13,806,761		14,638,359	13,467,562
Earnings (loss) per share
Basic (in Dollars per share)	$ (0.07)		$ 0.03		$ (0.22)	$ 0.03
Diluted (in Dollars per share)	$ (0.07)		$ 0.03		$ (0.22)	$ 0.03

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member]	1 Months Ended
	Jul. 31, 2020USD ($)shares
Subsequent Events (Details) (Textual)
Proceeds form net received | $	$ 193,768
Common stock in conjunction with the exercise of stock options | shares	64,261