OptimizeRx (OPRX) 10-Q 9 May 22 2022 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2022	Apr. 29, 2022
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		18,152,349
Amendment Flag	false
Entity Central Index Key	0001448431
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Document Period End Date	Mar. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Small Business	false
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
Local Phone Number	651-6568
City Area Code	248
Title of 12(b) Security	Common Stock, par value $0.001
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Current Assets
Cash and cash equivalents	$ 88,954,391	$ 84,681,770
Accounts receivable, net	19,135,824	24,800,585
Prepaid expenses and other	4,609,489	5,630,655
Total Current Assets	112,699,704	115,113,010
Property and equipment, net	137,441	143,818
Other Assets
Goodwill	14,740,031	14,740,031
Intangible assets, net	10,548,884	10,975,474
Security deposits and other assets	12,859	12,859
Total Other Assets	25,301,774	25,728,364
TOTAL ASSETS	138,138,919	140,985,192
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable – trade	600,729	606,808
Accrued expenses	1,718,055	2,902,836
Revenue share payable	3,175,719	4,378,216
Current portion of lease obligations	87,581	90,982
Deferred revenue	1,293,044	1,389,907
Total Current Liabilities	6,875,128	9,368,749
Non-Current Liabilities
Lease liabilities, net of current portion	212,946	236,726
Total Liabilities	7,088,074	9,605,475
Commitments and contingencies (See note 8)
Stockholders’ Equity
Preferred stock, $0.001 par value, 10,000,000 shares authorized, none issued and outstanding at March 31, 2022 or December 31, 2021
Common stock, $0.001 par value, 166,666,667 shares authorized, 17,902,608 and 17,860,975 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively	17,903	17,861
Additional paid-in-capital	170,047,698	166,615,514
Accumulated deficit	(39,014,756)	(35,253,658)
Total Stockholders’ Equity	131,050,845	131,379,717
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 138,138,919	$ 140,985,192

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
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	166,666,667	166,666,667
Common stock, shares issued	17,902,608	17,860,975
Common stock, shares outstanding	17,902,608	17,860,975

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenue	$ 13,731,530	$ 11,229,211
Cost of revenues	5,629,858	5,104,603
Gross margin	8,101,672	6,124,608
Operating expenses
Salaries, Wages, & Benefits	5,305,866	3,580,817
Stock-based compensation	3,174,098	707,153
Other general and administrative expenses	3,382,809	2,474,946
Total operating expenses	11,862,773	6,762,916
Loss from operations	(3,761,101)	(638,308)
Other income
Interest income	3	931
Loss before provision for income taxes	(3,761,098)	(637,377)
Income tax benefit
Net Loss	$ (3,761,098)	$ (637,377)
Weighted average number of shares outstanding – basic (in Shares)	17,878,068	16,101,837
Weighted average number of shares outstanding – diluted (in Shares)	17,878,068	16,101,837
Income (loss) per share – basic (in Dollars per share)	$ (0.21)	$ (0.04)
Income (loss) per share – diluted (in Dollars per share)	$ (0.21)	$ (0.04)

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, 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
Stock-based compensation expense (in Shares)
Net 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
Balance at Dec. 31, 2021	$ 17,861	166,615,514	(35,253,658)	131,379,717
Balance (in Shares) at Dec. 31, 2021	17,860,975
Shares issued for stock options exercised	$ 28	258,100		258,128
Shares issued for stock options exercised (in Shares)	28,006
Stock-based compensation expense	$ 14	3,174,084		3,174,098
Stock-based compensation expense (in Shares)	13,627
Net loss			(3,761,098)	(3,761,098)
Balance at Mar. 31, 2022	$ 17,903	$ 170,047,698	$ (39,014,756)	$ 131,050,845
Balance (in Shares) at Mar. 31, 2022	17,902,608

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (3,761,098)	$ (637,377)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	471,539	496,321
Stock-based compensation	3,174,098	582,159
Stock issued for board service		124,994
Provision for loss on accounts receivable	21,000	20,000
Changes in:
Accounts receivable	5,643,761	3,126,815
Prepaid expenses and other assets	1,021,166	937,083
Accounts payable	(6,079)	(118,971)
Revenue share payable	(1,202,497)	(1,476,063)
Accrued expenses and other liabilities	(1,184,781)	(1,550,569)
Operating leases, net	(2)	(987)
Deferred revenue	(96,863)	162,345
NET CASH PROVIDED BY OPERATING ACTIVITIES	4,080,244	1,665,750
CASH FLOWS USED IN INVESTING ACTIVITIES:
Purchase of property and equipment	(14,480)	(19,871)
Purchase of intangible assets, including intellectual property rights	(51,271)	(64,693)
NET CASH USED IN INVESTING ACTIVITIES	(65,751)	(84,564)
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES:
Proceeds from public offering of common stock, net of offering costs		70,671,536
Proceeds from exercise of stock options	258,128	1,120,011
Payment of contingent consideration		(1,610,813)
NET CASH PROVIDED BY FINANCING ACTIVITIES	258,128	70,180,734
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	4,272,621	71,761,920
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD	84,681,770	10,516,776
CASH AND CASH EQUIVALENTS - END OF PERIOD	88,954,391	82,278,696
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	3 Months Ended
	Mar. 31, 2022
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 technology company enabling care-focused engagement between life sciences organizations, healthcare providers, and patients at critical junctures throughout the patient care journey. Connecting over 60% of U.S. healthcare providers and millions of their patients through an intelligent technology platform embedded within a proprietary point-of-care network, OptimizeRx helps patients start and stay on their medications. The condensed consolidated financial statements for the three months ended March 31, 2022 and 2021 have been prepared by us without audit pursuant to the rules and regulations of the U.S. Securities and Exchange Commission. In the opinion of management, all adjustments necessary to present fairly our financial position at March 31, 2022, and our results of operations, changes in stockholders’ equity, and cash flows for the three months ended March 31, 2022 and 2021, have been made. Those adjustments consist of normal and recurring adjustments. The condensed consolidated condensed balance sheet as of December 31, 2021, has been derived from the audited consolidated condensed 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, 2021, as filed with the U.S. Securities and Exchange Commission on February 28, 2022. The results of operations for the three months ended March 31, 2022, are not necessarily indicative of the results to be expected for the full year.

New Accounting Standards

New Accounting Standards	3 Months Ended
	Mar. 31, 2022
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 Not Yet Adopted ASU Topic 2021-08 Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers, as if it had originated the contracts. The standard is effective for the Company’s fiscal year beginning January 1, 2023, with early adoption permitted. The Company is currently evaluating the effect of this pronouncement on its Consolidated Financial Statements, but it is not expected to have a material impact.

Revenues

Revenues	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
REVENUES	NOTE 3 – REVENUES Under ASC 606, Revenue from Contracts with Customers The Company has several signed contracts with customers for the distribution of messaging, or other services, which include payment in advance. The payments are not recorded as revenue until the revenue is earned under its revenue recognition policy. Deferred revenue was $1,293,044 and $1,389,907 as of March 31, 2022 and December 31, 2021, respectively. The contracts are all short term in nature and all revenue is expected to be recognized within 12 months, or less. Following is a summary of activity for the deferred revenue account for the quarter ended March 31. Balance January 1, 2022 $ 1,389,907 Revenue recognized (6,013,181 ) Amount collected 5,916,318 Balance March 31, 2022 $ 1,293,044 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 2022 2021 Revenue from: Life Science Companies $ 13,717,930 $ 10,862,041 Other 13,600 367,170 Total Revenue $ 13,731,530 $ 11,229,211

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
LEASES	NOTE 4 – LEASES We have operating leases for office space in two 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, and a technical facility in Zagreb, Croatia. We also had a lease on office space in Cranbury, New Jersey, which expired in January 2022. We did not renew the New Jersey lease. For leases that contain renewal options, we have only assumed renewal for the headquarters lease. 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 and occasional rent for transient meeting and office spaces in shared office space facilities. For the three months ended March 31, 2022 and 2021, the Company’s lease cost consists of the following components, each of which is included in operating expenses within the Company’s condensed consolidated statements of operations: Three Months Three Months Operating lease cost $ 26,718 $ 33,365 Short-term lease cost 8,092 15,924 Total lease cost $ 34,810 $ 49,289 The table below presents the future minimum lease payments to be made under operating leases as of March 31, 2022: As of March 31, 2022 2022 74,220 2023 98,961 2024 80,334 2025 70,224 Total 323,739 Less: discount 23,212 Total lease liabilities $ 300,527 The weighted average remaining lease term at March 31, 2022 for operating leases is 3.4 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 $24,493 and $30,846 for the three months ending March 31, 2022 and 2021, respectively. For the three months ended March 31, 2022 and 2021, payments on lease obligations were $27,898 and $35,657, respectively, and amortization on the right of use assets was $28,023 and $29,859, respectively.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 5 – STOCKHOLDERS’ EQUITY During the quarter ended March 31, 2022, we issued a total of 28,006 shares of our common stock and received total proceeds of $258,128 in connection with the exercise of stock options under our 2013 Incentive Plan. We also issued 13,627 shares in connection with the vesting of restricted stock units under the same plan. During the quarter ended March 31, 2021, we issued a total of 510,803 shares of our common stock in connection with the exercise of stock options under our 2013 Incentive Plan. 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 for total proceeds of $1,120,011. 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 quarter ended March 31, 2021, we issued 2,695 shares of our common stock to our independent directors in connection with our Director Compensation Plan. These shares were valued at $124,994 at the day of issuance.

Stock Based Compensation

Stock Based Compensation	3 Months Ended
	Mar. 31, 2022
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, including both options and restricted stock units. We recorded $905,743 and $391,318 in compensation expense in the three months ended March 31, 2022 and 2021, respectively, related to options issued under our equity compensation plans. 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 $10,390,172 of remaining expense related to unvested options to be recognized in the future over a weighted average period of 2.4 years. The total intrinsic value of outstanding options at March 31, 2022 was $8,474,053. We recorded $2,268,355 and $190,841 in compensation expense related to restricted stock units in the three months ended March 31, 2022 and 2021, respectively. These units vest both over time and based on market conditions. Of the $2,268,355 recorded in compensation expense, $1,503,359 is related to market-based equity grants. The expense related to the market-based grants was calculated using a Monte Carlo simulation. There is $19,175,194 of remaining expense related to unvested restricted stock units to be recognized in the future over a weighted average period of 2.3 years.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	3 Months Ended
	Mar. 31, 2022
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 outstanding during the period. The number of shares related to options and restricted stock units 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 options exercised, and for restricted stock units, 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 units, 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 and restricted stock units 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 net loss per share. Three Months Ended 2022 2021 Numerator Net Loss $ (3,761,098 ) $ (637,377 ) Denominator Weighted average shares outstanding used in computing net loss per share Basic 17,878,068 16,101,837 Effect of dilutive stock options, warrants, and stock grants - - Diluted 17,878,068 16,101,837 Net Loss per share Basic $ (0.21 ) $ (0.04 ) Diluted $ (0.21 ) $ (0.04 ) No calculation of diluted earnings per share is included for 2022 or 2021 as the effect of the calculation would be anti-dilutive. 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 2022 was 221,251 related to options, and 77,446 related to restricted stock units, for a total of 298,697 shares. 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 2021 was 846,441 related to options, and 137,304 related to restricted stock units, for a total of 983,745 shares.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	NOTE 8 – CONTINGENCIES Litigation The Company is not currently involved in any legal proceedings.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 9 – INCOME TAXES As discussed in our annual report on Form 10-K for the year ended December 31, 2021, we had net operating loss carry-forwards for federal income tax purposes of $26.4 million as of December 31, 2021. Accordingly, no federal income tax expense or benefit is recorded in the current period.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 10 – SUBSEQUENT EVENTS In April 2022, we completed the acquisition of substantially all of the assets of EvinceMed Corp., a privately held leading provider of delivering end-to-end automation for specialty pharmaceutical transactions. This strategic acquisition allows us to help patients get access to the drugs they need by simplifying the prescribing process for specialty products. The consideration was comprised of $2 million in cash and the issuance of 240,741 shares of common stock. 185,185 shares of common stock were issued at the closing of the acquisition and 55,556 shares of common stock were issued but held back to secure potential adjustments to the purchase price that may result from the indemnification obligations of EvinceMed and the EvinceMed shareholder indemnitors. The shares were valued at $9,374,455 based on the closing price of $38.94 per share on the date of acquisition. The holdback amount will be released 12 months from the closing, subject to any adjustments for the payment by EvinceMed and the shareholder indemnitors for its and their indemnification obligations. It is impractical to disclose a preliminary purchase price allocation of these assets at this time as we are currently in the process of completing that analysis.

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Schedule of deferred revenue	Balance January 1, 2022 $ 1,389,907 Revenue recognized (6,013,181 ) Amount collected 5,916,318 Balance March 31, 2022 $ 1,293,044
Schedule of majority of our revenue	Three Months Ended 2022 2021 Revenue from: Life Science Companies $ 13,717,930 $ 10,862,041 Other 13,600 367,170 Total Revenue $ 13,731,530 $ 11,229,211

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Schedule of company’s lease cost	Three Months Three Months Operating lease cost $ 26,718 $ 33,365 Short-term lease cost 8,092 15,924 Total lease cost $ 34,810 $ 49,289
Schedule of future minimum lease payments	As of March 31, 2022 2022 74,220 2023 98,961 2024 80,334 2025 70,224 Total 323,739 Less: discount 23,212 Total lease liabilities $ 300,527

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of basic and diluted earnings (loss) per share	Three Months Ended 2022 2021 Numerator Net Loss $ (3,761,098 ) $ (637,377 ) Denominator Weighted average shares outstanding used in computing net loss per share Basic 17,878,068 16,101,837 Effect of dilutive stock options, warrants, and stock grants - - Diluted 17,878,068 16,101,837 Net Loss per share Basic $ (0.21 ) $ (0.04 ) Diluted $ (0.21 ) $ (0.04 )

Nature of Business and Basis _2

Nature of Business and Basis of Presentation (Details)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
U.S. healthcare providers percentage	60.00%

Revenues (Details)

Revenues (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Accounts receivable	$ 2,824,724	$ 2,110,865
Deferred revenue	$ 1,293,044	$ 1,389,907

Revenues (Details) - Schedule o

Revenues (Details) - Schedule of deferred revenue	3 Months Ended
	Mar. 31, 2022USD ($)
Schedule of deferred revenue [Abstract]
Balance	$ 1,389,907
Revenue recognized	(6,013,181)
Amount collected	5,916,318
Balance	$ 1,293,044

Revenues (Details) - Schedule_2

Revenues (Details) - Schedule of majority of our revenue - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue from:
Total Revenue	$ 13,731,530	$ 11,229,211
Life Science Companies [Member]
Revenue from:
Total Revenue	13,717,930	10,862,041
Other [Member]
Revenue from:
Total Revenue	$ 13,600	$ 367,170

Leases (Details)

Leases (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Weighted average remaining lease term	3 years 4 months 24 days
Weighted average discount rate	4.50%
Measurement of lease liabilities	$ 24,493	$ 30,846
Payments on lease obligations	27,898	35,657
Amortization right of use assets	$ 28,023	$ 29,859

Leases (Details) - Schedule of

Leases (Details) - Schedule of company’s lease cost - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Schedule of company’s lease cost [Abstract]
Operating lease cost	$ 26,718	$ 33,365
Short-term lease cost	8,092	15,924
Total lease cost	$ 34,810	$ 49,289

Leases (Details) - Schedule o_2

Leases (Details) - Schedule of future minimum lease payments	Mar. 31, 2022USD ($)
Schedule of future minimum lease payments [Abstract]
2022	$ 74,220
2023	98,961
2024	80,334
2025	70,224
Total	323,739
Less: discount	23,212
Total lease liabilities	$ 300,527

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stockholders' Equity (Details) [Line Items]
Shares issued		1,523,750
Cashless transaction		75,425,625
Total proceeds (in Dollars)		$ 1,120,011
Common Stock [Member]
Stockholders' Equity (Details) [Line Items]
Shares issued		2,695
2013 equity incentive plan [Member]
Stockholders' Equity (Details) [Line Items]
Common stock issued	28,006	510,803
Gross proceeds of common stock amount (in Dollars)	$ 258,128
Shares issued	13,627	116,064
Total shares issued		368,329
Cashless transaction		394,739
Stock options, shares		26,410
Issuance costs (in Dollars)		$ 4,754,089
Net proceeds (in Dollars)		70,671,536
Director [Member]
Stockholders' Equity (Details) [Line Items]
Shares issuance (in Dollars)		$ 124,994

Stock Based Compensation (Detai

Stock Based Compensation (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stock Based Compensation (Details) [Line Items]
Expense remaining to be recognized related to unvested options	$ 10,390,172
Weighted average period	2 years 4 months 24 days
Intrinsic value	$ 8,474,053
Compensation expenses	2,268,355
Market-based equity grants	1,503,359
Equity compensation plan [Member]
Stock Based Compensation (Details) [Line Items]
Stock compensation recognized expense	905,743	$ 391,318
Restricted Stock Awards [Member]
Stock Based Compensation (Details) [Line Items]
Stock compensation recognized expense	2,268,355	$ 190,841
Expense remaining to be recognized related to unvested options	$ 19,175,194
Weighted average period	2 years 3 months 18 days

Earnings (Loss) Per Share (Deta

Earnings (Loss) Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Shares options	221,251	846,441
Restricted stock units	77,446	137,304
Total shares	298,697	983,745

Earnings (Loss) Per Share (De_2

Earnings (Loss) Per Share (Details) - Schedule of basic and diluted earnings (loss) per share - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator
Net Loss (in Dollars)	$ (3,761,098)	$ (637,377)
Weighted average shares outstanding used in computing net loss per share
Basic	17,878,068	16,101,837
Effect of dilutive stock options, warrants, and stock grants
Diluted	17,878,068	16,101,837
Net Loss per share
Basic (in Dollars per share)	$ (0.21)	$ (0.04)
Diluted (in Dollars per share)	$ (0.21)	$ (0.04)

Income Taxes (Details)

Income Taxes (Details) $ in Millions	Dec. 31, 2021USD ($)
Income Tax Disclosure [Abstract]
Net operating loss	$ 26.4

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member]	1 Months Ended
	Apr. 30, 2022USD ($)$ / sharesshares
Subsequent Events (Details) [Line Items]
Cash (in Dollars) | $	$ 2,000,000
Issuance of common stock	240,741
Share value (in Dollars) | $	$ 9,374,455
Price per share (in Dollars per share) | $ / shares	$ 38.94
Common Stock [Member]
Subsequent Events (Details) [Line Items]
Issuance of common stock	185,185
Held back securities [Member]
Subsequent Events (Details) [Line Items]
Issuance of common stock	55,556