OptimizeRx (OPRX) 10-Q 4 Aug 21 2021 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Jul. 30, 2021
Document Information Line Items
Entity Registrant Name	OptimizeRx Corp
Trading Symbol	OPRX
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		17,618,607
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, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-38543
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	26-1265381
Entity Address, Address Line One	400 Water Street
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Rochester
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48307
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock
Security Exchange Name	NASDAQ
City Area Code	248
Local Phone Number	651-6568

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Current Assets
Cash and cash equivalents	$ 83,923,455	$ 10,516,776
Accounts receivable, net	17,933,926	17,885,705
Prepaid expenses	3,124,479	4,456,611
Total Current Assets	104,981,860	32,859,092
Property and equipment, net	137,813	148,854
Other Assets
Goodwill	14,740,031	14,740,031
Technology assets, net	4,896,016	5,251,822
Patent rights, net	2,258,542	2,349,570
Other intangible assets, net	4,203,777	4,519,552
Right of use assets, net	392,482	445,974
Other assets and deposits	12,859	12,859
Total Other Assets	26,503,707	27,319,808
TOTAL ASSETS	131,623,380	60,327,754
Current Liabilities
Accounts payable – trade	805,461	618,250
Accrued expenses	2,088,651	2,420,361
Revenue share payable	3,341,312	4,969,868
Current portion of lease obligations	110,271	123,220
Current portion of contingent purchase price payable		1,610,813
Deferred revenue	319,609	285,795
Total Current Liabilities	6,665,304	10,028,307
Non-current Liabilities
Lease obligations, net of current portion	282,934	325,533
Total Non-current Liabilities	282,934	325,533
Total Liabilities	6,948,238	10,353,840
Commitments and contingencies (See Note 8)
Stockholders’ Equity
Preferred stock, $0.001 par value, 10,000,000 shares authorized, no issued and outstanding at June 30, 2021 or December 31, 2020
Common stock, $0.001 par value, 500,000,000 shares authorized, 17,495,429 and 15,223,340 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively	17,495	15,223
Additional paid-in-capital	160,574,661	85,590,428
Accumulated deficit	(35,917,014)	(35,631,737)
Total Stockholders’ Equity	124,675,142	49,973,914
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 131,623,380	$ 60,327,754

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
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 issued	17,495,429	15,223,340
Common stock, shares outstanding	17,495,429	15,223,340

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
NET REVENUE	$ 13,625,639	$ 8,783,230	$ 24,854,850	$ 16,367,832
COST OF REVENUES	5,580,964	3,639,016	10,685,567	6,880,779
GROSS MARGIN	8,044,675	5,144,214	14,169,283	9,487,053
OPERATING EXPENSES	7,704,536	6,200,027	14,467,452	12,802,118
INCOME (LOSS) FROM OPERATIONS	340,139	(1,055,813)	(298,169)	(3,315,065)
OTHER INCOME (EXPENSE)
Interest income	11,961	8,345	12,892	63,666
Change in Fair Value of Contingent Consideration		(30,000)		(30,000)
TOTAL OTHER INCOME (EXPENSE)	11,961	(21,655)	12,892	33,666
INCOME(LOSS) BEFORE PROVISION FOR INCOME TAXES	352,100	(1,077,468)	(285,277)	(3,281,399)
PROVISION FOR INCOME TAXES
NET INCOME (LOSS)	$ 352,100	$ (1,077,468)	$ (285,277)	$ (3,281,399)
WEIGHTED AVERGE SHARES OUTSTANDING
BASIC (in Shares)	17,347,096	14,667,216	16,720,114	14,638,359
DILUTED (in Shares)	18,104,807	14,667,216	16,720,114	14,638,359
EARNINGS (LOSS) PER SHARE
BASIC (in Dollars per share)	$ 0.02	$ (0.07)	$ (0.02)	$ (0.22)
DILUTED (in Dollars per share)	$ 0.02	$ (0.07)	$ (0.02)	$ (0.22)

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, 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
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 (in Shares)	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
Balance at Dec. 31, 2020	$ 15,223	85,590,428	(35,631,737)	49,973,914
Balance (in Shares) at Dec. 31, 2020	15,223,340
Public offering of common shares, net of offering costs	$ 1,524	70,670,012		70,671,536
Public offering of common shares, net of offering costs (in Shares)	1,523,750
Shares issued as board compensation	$ 3	124,991		124,994
Shares issued as board compensation (in Shares)	2,695
Shares issued for stock options exercised	$ 511	1,119,500		1,120,011
Shares issued for stock options exercised (in Shares)	510,803
Stock-based compensation expense		582,159		582,159
Net income (loss)			(637,377)	(637,377)
Balance at Mar. 31, 2021	$ 17,261	158,087,090	(36,269,114)	121,835,237
Balance (in Shares) at Mar. 31, 2021	17,260,588
Shares issued as board compensation	$ 2	125,089		125,091
Shares issued as board compensation (in Shares)	2,035
Shares issued for stock options exercised	$ 232	1,590,535		1,590,767
Shares issued for stock options exercised (in Shares)	232,806
Stock-based compensation expense		771,947		771,947
Net income (loss)			352,100	352,100
Balance at Jun. 30, 2021	$ 17,495	$ 160,574,661	$ (35,917,014)	$ 124,675,142
Balance (in Shares) at Jun. 30, 2021	17,495,429

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss	$ (285,277)	$ (3,281,399)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation, amortization, and non-cash lease expense	1,054,138	1,040,463
Stock-based compensation	1,354,106	1,435,156
Stock issued for board services	250,085	200,027
Provision for loss on accounts receivable	40,000	40,000
Change in fair value of contingent consideration		30,000
Changes in:
Accounts receivable	(88,221)	(3.427166)
Prepaid expenses and other assets	1,332,132	(1,785,422)
Accounts payable	187,211	3,747
Revenue share payable	(1,628,556)	1,878,051
Accrued expenses and other liabilities	(393,778)	186,682
Deferred revenue	33,814	68,678
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	1,855,654	(3,611,183)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of equipment	(43,654)	(24,998)
Purchase of intangible assets	(176,822)
NET CASH USED IN INVESTING ACTIVITIES	(220,476)	(24,998)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from public offering of common stock, net of commission costs	70,671,536
Proceeds from the exercise of options	2,710,778	286,983
Payment of contingent consideration	(1,610,813)	(1,389,188)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	71,771,501	(1,102,205)
NET INCREASE IN CASH AND CASH EQUIVALENTS	73,406,679	(4,738,386)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD	10,516,776	18,852,680
CASH AND CASH EQUIVALENTS - END OF PERIOD	83,923,455	14,114,294
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest
Cash paid for income taxes
Lease liabilities arising from right of use assets

Nature of Business and Basis of

Nature of Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2021
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 digital health company that provides communications solutions for life science companies, physicians and patients. Connecting over half of healthcare providers in the U.S. and millions of patients through a proprietary network, the OptimizeRx digital health platform helps patients afford and stay on medications. The platform unlocks new patient and physician touchpoints for life science companies along the patient journey, from point-of-care, to retail pharmacy, through mobile patient engagement. The condensed consolidated financial statements for the three and six months ended June 30, 2021 and 2020 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, 2021, and our results of operations, changes in stockholders’ equity for the three and six months ended June 30, 2021 and 2020 and the statements of cash flows for the six months ended June 30, 2021 and 2020 have been made. Those adjustments consist of normal and recurring adjustments. The condensed consolidated balance sheet as of December 31, 2020 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 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, 2020, as filed with the U.S. Securities and Exchange Commission on March 8, 2021. The results of operations for the three and six months ended June 30, 2021, are not necessarily indicative of the results to be expected for the full year.

New Accounting Standards

New Accounting Standards	6 Months Ended
	Jun. 30, 2021
Accounting Standards Update and Change in Accounting Principle [Abstract]
NEW ACCOUNTING STANDARDS	NOTE 2 – NEW ACCOUNTING STANDARDS In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes

Revenues

Revenues	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
REVENUES	NOTE 3 – REVENUES Under ASC 606, Revenue from Contracts with Customers The majority of our revenue is earned from life sciences companies, such as pharmaceutical and biotech companies, or medical device makers. A small portion of our revenue is earned from other sources, such as associations and technology companies. A break down is set forth in the table below. Three Months Ended Six Months Ended 2021 2020 2021 2020 Revenue from: Life Science Companies $ 13,313,044 $ 8,336,298 $ 24,256,404 $ 15,568,032 Other 312,595 446,932 598,446 799,800 Total Revenue $ 13,625,639 $ 8,783,230 $ 24,854,850 $ 16,367,832

Leases

Leases	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
LEASES	NOTE 4 – 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 condensed consolidated balance sheets. 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, 2021, 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 $ 33,365 $ 66,730 Short-term lease cost (1) 16,890 32,814 Total lease cost $ 50,255 $ 99,544 (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, 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. The table below presents the future minimum lease payments to be made under operating leases as of June 30, 2021: As of June 30, 2021 2021(a) $ 71,176 2022 104,572 2023 101,414 2024 80,742 2025 70,224 Total 428,128 Less: imputed interest 34,923 Total lease liabilities $ 393,205 (a) For the six-month period beginning July 1, 2021. The weighted average remaining lease term at June 30, 2021 for operating leases was 3.93 years and the weighted average discount rate used in calculating the operating lease asset and liability was 4.5%. Cash paid for amounts included in the measurement of lease liabilities was $62,069 and $57,019 for the six months ended June 30, 2021 and 2020, respectively. For the six months ended June 30, 2021 and 2020, payments on lease obligations were $71,397 and $68,900, respectively, and amortization on the right of use assets was $60,013 and $56,357, respectively.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2021
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	NOTE 5 – STOCKHOLDERS’ EQUITY During the quarter ended March 31, 2021, in an underwritten primary offering, we issued 1,523,750 shares of our common stock for gross proceeds of $75,425,625. In connection with this transaction, we incurred equity issuance costs of $4,754,089 related to payments to the underwriter, advisors and legal fees associated with the transaction, resulting in net proceeds to the Company of $70,671,536. During the quarters ended June 30, 2021 and March 31, 2021, we issued 232,806 shares and 510,803 shares of our common stock, respectively, and received proceeds of $1,590,767 and $1,120,011, respectively, in connection with the exercise of stock options under our 2013 equity incentive plan. Of the shares issued in the quarter ended March 31, 2021, a total of 368,329 shares were issued in a cashless transaction related to 394,739 expiring options using the net settled method whereby 26,410 options were used to pay the purchase price. The remaining 116,064 shares issued in connection with the exercise of options were all issued for cash. 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 $174,831 and $112,152, respectively, in connection with the exercise of stock options under our 2013 equity compensation plan. 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 6 – Stock Based Compensation. Our Director Compensation Plan calls for issuance of shares of common stock each quarter to each independent director. In 2021, we issued 2,695 shares valued at $124,994 in the quarter ended March 31, 2021 and 2,035 shares valued at $125,091 in the quarter ended June 30, 2021. 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.

Stock Based Compensation

Stock Based Compensation	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
STOCK BASED COMPENSATION	NOTE 6 – STOCK BASED COMPENSATION We use the fair value method to account for stock-based compensation. We recorded $954,434 and $1,021,787 in compensation expense in the six months ended June 30, 2021 and 2020, respectively, related to options issued under our 2013 equity incentive 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 $6,183,249 of remaining expense related to unvested options to be recognized in the future over a weighted average remaining period of approximately 2.5 years. The total intrinsic value of outstanding options at June 30, 2021 was $44,669,554. In addition to the grants to independent Directors described in Note 5 – Stockholders’ Equity, we also recorded $399,672 and $413,369 in compensation expense related to restricted stock awards that vest over time in the six months ended June 30, 2021, and 2020, respectively. There is $2,588,851 of remaining expense related to unvested restricted stock awards to be recognized in the future over a weighted average period of 3.4 years. A total of 42,374 shares related to restricted stock awards that vested in the six months ended June 30, 2020 and were issued during that same period.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE	NOTE 7 – EARNINGS (LOSS) PER SHARE Basic earnings per share (“EPS”) is computed by dividing net income (loss) by the weighted average number of common shares during the period. The number of shares related to options, restricted stock and other similar instruments included in diluted EPS is based on the “Treasury Stock Method” prescribed in ASC 260-10, Earnings per Share. This method assumes the theoretical repurchase of shares using proceeds of the respective stock option exercised, and for restricted stock, the amount of compensation cost attributed to future services which have not yet been recognized, and the amount of current and deferred tax benefit, if any, that would be credited to additional paid in capital upon the vesting of the restricted stock, at a price equal to the issuer’s average stock price during the related earnings period. Accordingly, the number of shares includable in the calculation of EPS in respect of the stock options, restricted stock and similar instruments is dependent on this average stock price and will increase as the average stock price increases. The following table sets forth the computation of basic and diluted earnings (loss) per share. Three Months Ended Six Months Ended 2021 2020 2021 2020 Numerator Net income (loss) $ 352,100 $ (1,077,468 ) $ (285,277 ) $ (3,281,399 ) Denominator Weighted average shares outstanding used in computing earnings per share Basic 17,347,096 14,667,216 16,720,114 14,638,359 Effect of dilutive stock options, warrants, and unvested restricted stock awards 757,711 - - - Diluted 18,104,807 14,667,216 16,720,114 14,638,359 Earnings (loss) per share Basic $ 0.02 $ (0.07 ) $ (0.02 ) $ (0.22 ) Diluted $ 0.02 $ (0.07 ) $ (0.02 ) $ (0.22 ) No calculation of diluted earnings per share is included for either 2020 period or for the six months ended June 30, 2021, as the effect of the calculation would be antidilutive. The number of common shares potentially issuable upon the exercise of certain options or for unvested restricted stock awards are reflected in the table below. Three Months Ended Six Months Ended 2021 2020 2021 2020 Weighted average number of shares excluded from calculation Unvested restricted stock awards 98,011 79,264 94,942 48,027 Options 659,700 826,777 652,103 782,575 Total 757,711 906,041 747,045 830,602

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	NOTE 8 – CONTINGENCIES Litigation The Company is not currently involved in any legal proceedings.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9 – SUBSEQUENT EVENTS In July 2021, we received proceeds of $300,548 and issued 123,178 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, 2021 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.

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Schedule of total revenue	Three Months Ended Six Months Ended 2021 2020 2021 2020 Revenue from: Life Science Companies $ 13,313,044 $ 8,336,298 $ 24,256,404 $ 15,568,032 Other 312,595 446,932 598,446 799,800 Total Revenue $ 13,625,639 $ 8,783,230 $ 24,854,850 $ 16,367,832

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Schedule of company’s lease cost	Three Months Six Months Operating lease cost $ 33,365 $ 66,730 Short-term lease cost (1) 16,890 32,814 Total lease cost $ 50,255 $ 99,544 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.
Schedule of future minimum lease payments	As of June 30, 2021 2021(a) $ 71,176 2022 104,572 2023 101,414 2024 80,742 2025 70,224 Total 428,128 Less: imputed interest 34,923 Total lease liabilities $ 393,205 (a) For the six-month period beginning July 1, 2021.

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of basic and diluted earnings (loss) per share	Three Months Ended Six Months Ended 2021 2020 2021 2020 Numerator Net income (loss) $ 352,100 $ (1,077,468 ) $ (285,277 ) $ (3,281,399 ) Denominator Weighted average shares outstanding used in computing earnings per share Basic 17,347,096 14,667,216 16,720,114 14,638,359 Effect of dilutive stock options, warrants, and unvested restricted stock awards 757,711 - - - Diluted 18,104,807 14,667,216 16,720,114 14,638,359 Earnings (loss) per share Basic $ 0.02 $ (0.07 ) $ (0.02 ) $ (0.22 ) Diluted $ 0.02 $ (0.07 ) $ (0.02 ) $ (0.22 )
Schedule of unvested restricted stock awards	Three Months Ended Six Months Ended 2021 2020 2021 2020 Weighted average number of shares excluded from calculation Unvested restricted stock awards 98,011 79,264 94,942 48,027 Options 659,700 826,777 652,103 782,575 Total 757,711 906,041 747,045 830,602

Revenues (Details)

Revenues (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Accounts receivable	$ 1,215,703	$ 77,516

Revenues (Details) - Schedule o

Revenues (Details) - Schedule of total revenue - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue, Major Customer [Line Items]
Total Revenue	$ 13,625,639	$ 8,783,230	$ 24,854,850	$ 16,367,832
Life Science Companies [Member]
Revenue, Major Customer [Line Items]
Total Revenue	13,313,044	8,336,298	24,256,404	15,568,032
Other [Member]
Revenue, Major Customer [Line Items]
Total Revenue	$ 312,595	$ 446,932	$ 598,446	$ 799,800

Leases (Details)

Leases (Details) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Weighted average remaining lease term	3 years 11 months 4 days
Weighted average discount rate	4.50%
Measurement of lease liabilities	$ 62,069	$ 57,019
Payments on lease obligations	71,397	68,900
Amortization right of use assets.	$ 60,013	$ 56,357

Leases (Details) - Schedule of

Leases (Details) - Schedule of company’s lease cost - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Schedule of company’s lease cost [Abstract]
Operating lease cost		$ 33,365	$ 32,814	$ 66,730	$ 65,627
Short-term lease cost	[1]	16,890	36,186	32,814	80,815
Total lease cost		$ 50,255	$ 69,000	$ 99,544	$ 146,442
[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, 2021USD ($)
Schedule of future minimum lease payments [Abstract]
2021	$ 71,176	[1]
2022	104,572
2023	101,414
2024	80,742
2025	70,224
Total	428,128
Less: imputed interest	34,923
Total lease liabilities	$ 393,205
[1]	For the six-month period beginning July 1, 2021.

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Stockholders' Equity (Details) [Line Items]
Payments to advisors and legal fees (in Dollars)	$ 4,754,089
Issuance of common share	510,803		232,806
Issuance of common stock exercise value (in Dollars)	$ 1,120,011		$ 1,590,767
Shares issued	368,329
Cashless transaction	394,739
Stock options, shares	26,410
Shares of restricted stock awards (in Dollars)			$ 42,374
Shares issued			17,495,429		15,223,340
RMDY Health, Inc. [Member]
Stockholders' Equity (Details) [Line Items]
Shares of common stock issued	35,032		55,731
Shares issued	116,064
Shares of common stock issued, value (in Dollars)	$ 112,152		$ 174,831
Legal Fees [Member]
Stockholders' Equity (Details) [Line Items]
Net proceeds issuance of common stock (in Dollars)	$ 70,671,536
Director [Member]
Stockholders' Equity (Details) [Line Items]
Shares issued	2,695	11,136	2,035	7,748
Issuance Of shares value (in Dollars)	$ 124,994	$ 100,000	$ 125,091	$ 100,027
Private Transaction [Member]
Stockholders' Equity (Details) [Line Items]
Shares of common stock issued	1,523,750
Gross proceeds of common stock amount (in Dollars)	$ 75,425,625

Stock Based Compensation (Detai

Stock Based Compensation (Details) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Stock Based Compensation (Details) [Line Items]
Expense remaining to be recognized related to unvested options	$ 6,183,249
Weighted average contractual life	2 years 6 months
Intrinsic value	$ 44,669,554
Stock Compensation Plan [Member]
Stock Based Compensation (Details) [Line Items]
Stock compensation recognized expense	954,434	$ 1,021,787
Restricted Stock [Member]
Stock Based Compensation (Details) [Line Items]
Stock compensation recognized expense	$ 399,672	413,369
Expense remaining to be recognized related to unvested options		$ 2,588,851
Weighted average contractual life		3 years 4 months 24 days
Restricted stock awards (in Shares)		42,374

Earnings (Loss) Per Share (Deta

Earnings (Loss) Per Share (Details) - Schedule of basic and diluted earnings (loss) per share - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Numerator
Net income (loss) (in Dollars)	$ 352,100	$ (1,077,468)	$ (285,277)	$ (3,281,399)
Weighted average shares outstanding used in computing earnings per share
Basic	17,347,096	14,667,216	16,720,114	14,638,359
Effect of dilutive stock options, warrants, and unvested restricted stock awards	757,711
Diluted	18,104,807	14,667,216	16,720,114	14,638,359
Earnings (loss) per share
Basic (in Dollars per share)	$ 0.02	$ (0.07)	$ (0.02)	$ (0.22)
Diluted (in Dollars per share)	$ 0.02	$ (0.07)	$ (0.02)	$ (0.22)

Earnings (Loss) Per Share (De_2

Earnings (Loss) Per Share (Details) - Schedule of unvested restricted stock awards - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Schedule of unvested restricted stock awards [Abstract]
Unvested restricted stock awards	98,011	79,264	94,942	48,027
Options	659,700	826,777	652,103	782,575
Total	757,711	906,041	747,045	830,602

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member]	1 Months Ended
	Jul. 30, 2021USD ($)shares
Subsequent Events (Details) [Line Items]
Issued shares of common stock (in Shares) | shares	300,548
Proceeds from exercise of options | $	$ 123,178