NextTrip (NTRP) 10-Q 21 Oct 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2021	Oct. 20, 2021
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	001-38015
Entity Registrant Name	Sigma Labs, Inc.
Entity Central Index Key	0000788611
Entity Tax Identification Number	27-1865814
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	3900 Paseo del Sol
Entity Address, City or Town	Santa Fe
Entity Address, State or Province	NM
Entity Address, Postal Zip Code	87507
City Area Code	(505)
Local Phone Number	438-2576
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		10,498,802
Common Stock, par value $0.001 per share
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	SGLB
Security Exchange Name	NASDAQ
Warrants to Purchase Common Stock,
Title of 12(b) Security	Warrants to Purchase Common Stock,
Trading Symbol	SGLBW
Security Exchange Name	NASDAQ

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Current Assets:
Cash	$ 13,064,394	$ 3,700,814
Accounts Receivable, net	666,740	331,562
Inventory	856,547	659,651
Prepaid Assets	130,675	90,735
Total Current Assets	14,718,356	4,782,762
Other Assets:
Property and Equipment, net	201,752	138,626
Intangible Assets, net	868,265	753,122
Long-Term Prepaid Asset		26,000
Total Other Assets	1,070,017	917,748
TOTAL ASSETS	15,788,373	5,700,510
Current Liabilities:
Accounts Payable	223,157	128,937
Deferred Revenue	85,480	77,957
Accrued Expenses	432,615	243,815
Total Current Liabilities	741,252	450,709
Long-Term Liabilities:
Stock Appreciation Rights	93,525	48,341
CARES Act Deferred Payroll Tax Liability	37,728	37,728
Total Long-Term Liabilities	131,253	86,069
TOTAL LIABILITIES	872,505	536,778
Stockholders’ Equity
Preferred Stock, $0.001 par; 10,000,000 shares authorized; 465 and 715 issued and outstanding, respectively	1	1
Common Stock, $0.001 par; 24,000,000 shares authorized; 10,498,802 and 5,995,320 issued and outstanding, respectively	10,499	5,995
Additional Paid-In Capital	53,086,908	38,262,744
Accumulated Deficit	(38,181,540)	(33,105,008)
Total Stockholders’ Equity	14,915,868	5,163,732
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 15,788,373	$ 5,700,510

Condensed Balance Sheets (Una_2

Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	465	715
Preferred stock, shares outstanding	465	715
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	24,000,000	24,000,000
Common stock, shares issued	10,498,802	5,995,320
Common stock, shares outstanding	10,498,802	5,995,320

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
REVENUES	$ 700,237	$ 248,526	$ 1,302,525	$ 637,944
COST OF REVENUE	164,766	97,785	409,493	400,172
GROSS PROFIT	535,471	150,741	893,032	237,772
OPERATING EXPENSES:
Salaries & Benefits	1,222,760	657,889	3,055,279	1,915,381
Stock-Based Compensation	659,512	58,219	893,431	483,208
Operating R&D Costs	131,772	79,673	608,812	245,008
Investor, Public Relations & Marketing	119,622	66,794	342,725	353,802
Organization Costs	342,112	173,041	578,256	328,716
Legal & Professional Service Fees	261,075	133,273	681,941	530,660
Office Expenses	172,238	84,357	472,335	310,947
Depreciation & Amortization	27,689	50,167	76,502	86,150
Other Operating Expenses	90,108	59,100	267,663	194,836
Total Operating Expenses	3,026,888	1,362,513	6,976,944	4,448,708
LOSS FROM OPERATIONS	(2,491,417)	(1,211,772)	(6,083,912)	(4,210,936)
OTHER INCOME (EXPENSE)
Interest Income	2,981	77	10,053	959
State Incentives				151,657
Exchange Rate Gain (Loss)	(490)	(252)	(333)	(1,674)
Interest Expense	(2,052)	(6,066)	(5,434)	(12,741)
Loss on Dissolution of Joint Venture				(201)
Other Income			1,092,441	361,700
Total Other Income (Expense)	439	(6,241)	1,096,727	499,700
LOSS BEFORE PROVISION FOR INCOME TAXES	(2,490,978)	(1,218,013)	(4,987,185)	(3,711,236)
Provision for income Taxes
Net Loss	(2,490,978)	(1,218,013)	(4,987,185)	(3,711,236)
Preferred Dividends	(14,220)	(737,344)	(89,347)	(1,744,471)
Net Loss Applicable to Common Stockholders	$ (2,505,198)	$ (1,955,357)	$ (5,076,532)	$ (5,455,707)
Net Loss per Common Share – Basic and Diluted	$ (0.24)	$ (0.42)	$ (0.53)	$ (1.74)
Weighted Average Number of Shares Outstanding – Basic and Diluted	10,494,560	4,675,749	9,602,666	3,137,459

Statement of Stockholders' Equi

Statement of Stockholders' Equity (Unaudited) - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balances, December 31, 2019 at Dec. 31, 2019		$ 1,404	$ 26,746,439	$ (26,095,594)	$ 652,249
Balance, shares at Dec. 31, 2019		1,403,759
Preferred Stock Dividends		$ 750	1,743,721	(1,744,471)
Securities Issued to Directors for Services, shares		8,334
Securities Issued for Third Party Services		$ 6	113,837		113,843
Securities Issued for Third Party Services, shares		6,000
Securities Awarded to Employees		$ 12	483,196		483,208
Securities Awarded to Employees, shares		11,517
Preferred Shares issued for Exercise of Preferred Warrants	$ 5		5,619,895		5,619,900
Preferred Shares issued for Exercise of Preferred Warrants, shares	5,764
Common Shares issued for Conversion of Preferred Shares	$ (7)	$ 3,157	(3,150)
Common Shares Issued for Conversion of Preferred Shares,shares	(7,154)	3,157,427
Common Shares Sold in Public Offering		$ 493	1,499,507		1,500,000
Common Shares Sold in Public Offerings, shares		493,027
Preferred Shares Sold in Private Offering	$ 3		2,099,997		2,100,000
Preferred Shares Sold in Private Offering, shares	1,973
Offering Costs			(820,224)		(820,224)
Issuance of Fractional Shares from Reverse Split		$ 3	(3)
Issuance of Fractional Shares from Reverse Split, shares		3,257
Securities Issued to Directors for Services		$ 8	131,142		131,150
Net Loss				(3,711,236)	(3,711,236)
Balances, September 30, 2020 at Sep. 30, 2020	$ 1	$ 5,833	37,614,357	(31,551,301)	6,068,890
Balance, shares at Sep. 30, 2020	583	5,833,245
Preferred Stock Dividends, shares		749,924
Balances, December 31, 2019 at Jun. 30, 2020	$ 1	$ 3,926	33,151,829	(29,595,944)	3,559,812
Balance, shares at Jun. 30, 2020	333	3,926,362
Preferred Stock Dividends		$ 339	737,005	(737,344)
Securities Issued to Directors for Services, shares		8,334
Securities Issued for Third Party Services		$ 4	58,918		58,922
Securities Issued for Third Party Services, shares		3,500
Securities Awarded to Employees			58,220		58,220
Preferred Shares issued for Exercise of Preferred Warrants	$ 3		3,478,796		3,478,799
Preferred Shares issued for Exercise of Preferred Warrants, shares	3,568
Common Shares issued for Conversion of Preferred Shares	$ (3)	$ 1,556	(1,553)
Common Shares Issued for Conversion of Preferred Shares,shares	(3,318)	1,555,550
Securities Issued to Directors for Services		$ 8	131,142		131,150
Net Loss				(1,218,013)	(1,218,013)
Balances, September 30, 2020 at Sep. 30, 2020	$ 1	$ 5,833	37,614,357	(31,551,301)	6,068,890
Balance, shares at Sep. 30, 2020	583	5,833,245
Preferred Stock Dividends, shares		339,499
Balances, December 31, 2019 at Dec. 31, 2020	$ 1	$ 5,995	38,262,744	(33,105,008)	5,163,732
Balance, shares at Dec. 31, 2020	715	5,995,320
Preferred Stock Dividends		$ 19	89,328	(89,347)
Securities Issued for Third Party Services		$ 2	128,807		128,809
Securities Issued for Third Party Services, shares		1,500
Securities Awarded to Employees		$ 5	893,426		893,431
Securities Awarded to Employees, shares		5,204
Common Shares issued for Conversion of Preferred Shares		$ 100	(100)
Common Shares Issued for Conversion of Preferred Shares,shares	(250)	100,000
Common Shares Sold in Public Offering		$ 3,902	14,865,997		14,869,899
Common Shares Sold in Public Offerings, shares		3,901,783
Extinguishment of Derivative Liability			(1,092,441)		(1,092,441)
Common Shares issued for Exercise of Common Warrants		$ 476	1,135,534		1,136,010
Common Shares issued for Exercise of Common Warrants, shares		475,995
Offering Costs			(1,600,967)		(1,600,967)
Securities Issued to Directors for Services			404,580		404,580
Net Loss				(4,987,185)	(4,987,185)
Balances, September 30, 2020 at Sep. 30, 2021	$ 1	$ 10,499	53,086,908	(38,181,540)	14,915,868
Balance, shares at Sep. 30, 2021	465	10,498,802
Preferred Stock Dividends, shares		19,000
Balances, December 31, 2019 at Jun. 30, 2021	$ 1	$ 10,494	52,058,003	(35,676,342)	16,392,156
Balance, shares at Jun. 30, 2021	465	10,493,598
Preferred Stock Dividends			14,220	(14,220)
Shares Securities Issued to Directors for Services			282,306		282,306
Securities Issued for Third Party Services			72,872		72,872
Securities Awarded to Employees		$ 5	659,507		659,512
Securities Awarded to Employees, shares		5,204
Net Loss				(2,490,978)	(2,490,978)
Balances, September 30, 2020 at Sep. 30, 2021	$ 1	$ 10,499	$ 53,086,908	$ (38,181,540)	$ 14,915,868
Balance, shares at Sep. 30, 2021	465	10,498,802

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
OPERATING ACTIVITIES
Net Loss	$ (4,987,185)	$ (3,711,236)
Noncash Expenses:
Depreciation and Amortization	76,502	86,150
Gain on Derivative Liability	(1,092,441)
Stock Based Compensation - Employees	893,431	483,208
Stock Based Compensation – Third Party Services	128,809	113,843
Stock Based Compensation - Directors	404,580	131,150
Change in assets and liabilities:
Accounts Receivable	(335,178)	(429,527)
Inventory	(196,896)	24,178
Prepaid Assets	(13,940)	55,669
Accounts Payable	94,220	(544,991)
Deferred Revenue	7,523	(46,606)
Accrued Expenses	233,985	108,022
Deferral of Payroll Taxes under the CARES Act		53,545
NET CASH USED IN OPERATING ACTIVITIES	(4,786,590)	(3,676,595)
INVESTING ACTIVITIES
Purchase of Property and Equipment	(116,631)	(88,074)
Purchase of Intangible Assets	(138,141)	(161,878)
Dissolution of Joint Venture		500
NET CASH USED IN INVESTING ACTIVITIES	(254,772)	(249,452)
FINANCING ACTIVITIES
Gross Proceeds from Public and Private Issuances of Securities	14,869,899	3,600,000
Less Offering Costs	(1,600,967)	(820,224)
Payment of Note Payable		(50,000)
Proceeds from Exercise of Warrants	1,136,010	5,619,900
NET CASH PROVIDED BY FINANCING ACTIVITIES	14,404,942	8,349,676
NET CHANGE IN CASH FOR PERIOD	9,363,580	4,423,629
CASH AT BEGINNING OF PERIOD	3,700,814	86,919
CASH AT END OF PERIOD	13,064,394	4,510,548
Noncash investing and financing activities disclosure:
Issuance of Common Shares for Preferred Dividends	89,347	1,744,471
Issuance of Securities for Services	533,387	244,993
Disclosure of cash paid for:
Interest	5,434	12,741
Income Taxes

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 1 - Summary of Significant Accounting Policies Nature of Business Basis of Presentation Reclassification Fair Value of Financial Instruments . ● Level 1 - inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. ● Level 2 - inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. ● Level 3 - inputs to valuation methodology are unobservable and significant to the fair measurement. The carrying amounts reported in the balance sheets for the cash and cash equivalents, receivables, accounts payable, and accrued liabilities each qualify as financial instruments and are a reasonable estimate of fair value because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The Company does not use derivative instruments for hedging of market risk or for trading or speculative purposes. On March 26, 2021, the Company closed an offering in which it issued warrants to purchase an aggregate of 2,190,000 May 24, 2021 12,000,000 24,000,000 Pursuant to ASC 815-40-25-10, because the Company did not have sufficient authorized and unissued shares of common stock available to settle the warrants at the issue date, such warrants were accounted for as a derivative liability. On May 24, 2021, upon receiving shareholder approval to increase its authorized common shares, the Company reclassified the warrant liability to equity pursuant to ASC 815.40.35.8. The fair value of the warrant liability measured on a recurring basis is as follows: Schedule of Warrant Liability Measured on Recurring Basis September 30, 2021 Date of Issuance March 26, 2021 Fair Value Input Level Fair Value Input Level Derivative Liability - Warrants $ - - $ 5,708,212 Level 3 The following table presents a reconciliation of the derivative liability measured at fair value on a recurring basis using significant unobservable input (Level 3): Schedule of Derivative Liability Measured on a Recurring Basis Using Significant Unobservable Input (Level 3) Warrants Fair Value on Issuance Date $ 5,708,212 Change in Fair Value (1,092,441 ) Fair Value on May 24, 2021 4,615,771 Extinguishment of Derivative Liability (4,615,771 ) Fair Value on September 30, 2021 $ - Loss Per Share Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share September 30, 2021 2020 Warrants 3,987,931 1,845,722 Preferred Stock Warrants - 260,089 Stock Options 1,400,407 610,229 Preferred Stock 124,483 227,695 Total Underlying Common Shares 5,512,821 2,943,735 The following data shows the amounts used in computing loss per share and the effect on income and the weighted average number of shares of dilutive potential common stock for the periods ended September 30, 2021 and 2020: Schedule of Earnings Per Share, Basic and Diluted 2021 2020 2021 2020 Three Months Ended Nine Months Ended 2021 2020 2021 2020 Net Loss per Common Share - Basic and Diluted $ (0.24 ) $ (0.42 ) $ (0.53 ) $ (1.74 ) Loss from continuing Operations available to Common stockholders (numerator) $ (2,505,198 ) $ (1,955,357 ) $ (5,076,532 ) $ (5,455,707 ) Loss from continuing Operations available to Common stockholders (numerator) $ (2,505,198 ) $ (1,955,357 ) $ (5,076,532 ) $ (5,455,707 ) Weighted average number of common shares Outstanding used in loss per share during the Period (denominator) 10,494,560 4,675,749 9,602,666 3,137,459 Recently Enacted Accounting Standards Accounting Estimates

Inventory

Inventory	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Inventory	NOTE 2 – Inventory At September 30, 2021 and December 31, 2020, the Company’s inventory was comprised of: Schedule of Inventory September 30, 2021 December 31, 2020 Raw Materials $ 312,181 $ 309,305 Work in Process 260,380 175,884 Finished Goods 283,986 174,462 Total Inventory $ 856,547 $ 659,651

CARES Act Deferred Payroll Tax

CARES Act Deferred Payroll Tax Liability	9 Months Ended
	Sep. 30, 2021
Cares Act Deferred Payroll Tax Liability
CARES Act Deferred Payroll Tax Liability	NOTE 3 – CARES Act Deferred Payroll Tax Liability Pursuant to sections 2302(a)(1) and (a)(2) of the CARES Act, the Company has elected to defer payments of its share of Social Security tax due during the “payroll tax deferral period”. The payroll tax deferral period began on March 27, 2020 and ended on December 31, 2020. At September 30, 2021 the total amount of such deferral was $ 75,455 50 50

Derivative Liability

Derivative Liability	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Liability	NOTE 4 - Derivative Liability On March 26, 2021 (the “Issuance Date”), the Company issued warrants to purchase an aggregate of 2,190,000 2,190,000 4.32 May 24, 2021 two years “Derivative Instruments and Hedging” At a Special Stockholders Meeting held on May 24, 2021, the Company received approval to increase its authorized common shares from 12,000,000 24,000,000 The fair value of the derivative liability presented below was measured using the Black Scholes valuation model. Significant inputs into the model for the nine months ended September 30, 2021 are as follows: Schedule of Fair Value of Derivative Liability Using Black Scholes Valuation Model September 30, 2021 Dividend yield 0.00 % Risk-free interest rate 0.6 0.7 % Expected volatility 121.2 124.0 % Expected life (in years) 2 The warrants outstanding and fair values at each of the respective valuation dates are summarized below: Schedule of Fair Value of Warrant Liability Warrant Liability Warrants Outstanding Fair Value Per Share Fair Value Fair Value at initial measurement date of March 26, 2021 2,190,000 $ 2.61 $ 5,708,212 (Gain) on change in Fair Value of Warrant Liability - $ - (1,092,441 ) Fair Value as of May 24, 2021 2,190,000 $ 2.11 4,615,771 Extinguishment of Derivative Liability (2,190,000 ) $ 2.11 (4,615,771 ) Fair Value as of September 30, 2021 - $ - - The Company has presented the fair value measurement as a Level 3 measurement, relying on unobservable inputs reflecting management’s assumptions. Level 3 measurements, which are not based on quoted prices in active markets, introduce a higher degree of subjectivity and may be more sensitive to fluctuations in stock prices, volatility rates and U.S. Treasury Bond rates and could have a material impact on future fair value measurements. The Company uses the Black Scholes model, based on the adjusted historical volatility rates for fair value measurements through the date of stockholder approval (i.e., May 24, 2021). Management has determined the Black Scholes model to be the most reliable and least volatile determinate of the current fair value of the warrants. It is the Company’s expectation to maximize on all observable market inputs for the warrants and calibrate the model to incorporate relevant observable market data into the fair value measurement at each future measurement date, if applicable. During the nine months ended September 30, 2021, the Company recognized a gain of $ 1,092,441

Stockholders_ Equity

Stockholders’ Equity	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Stockholders’ Equity	NOTE 5 - Stockholders’ Equity Common Stock On May 24, 2021, at a Special Stockholders Meeting, our authorized shares of common stock were increased from 12,000,000 24,000,000 In January 2021, the Company closed a public offering of its securities in which it issued 1,711,783 3.00 4,532,445 136,943 five years 3.75 In February 2021, the Company issued 263,200 In March 2021, the Company issued 119,000 250 19,000 191,204 21,591 In March 2021, the Company closed a public offering of its securities in which it issued 2,190,000 shares of common stock at $ 4.445 per share, resulting in net proceeds to the Company of approximately $ 8,736,487 after deducting placement agent commissions and other offering costs payable by the Company. In a concurrent private placement under the Purchase Agreement, the Company issued to the purchasers warrants to purchase an aggregate of 2,190,000 shares of Common Stock at an exercise price of $ 4.32 per share. Each Warrant became exercisable on May 24, 2021 , the date the Company obtained stockholder approval of an increase in the authorized shares of the Company’s Common Stock and will expire two years 175,200 8 125 5.55625 8.0 In March 2021, Company issued 1,500 4.99 In September 2021, the Company granted 5,204 On April 6, 2020, the Company closed a public offering of equity securities in which it issued 493,027 22,438 515,465 41,237 3.64 1,230,000 In the nine months ended September 30, 2020, the Company issued 3,157,427 6,109 749,924 In the nine months ended September 30, 2020, the Company issued 25,851 Preferred Stock The Company is authorized to issue 10,000,000 shares of preferred stock, $ 0.001 par value. 465 583 shares of preferred stock were issued and outstanding at September 30, 2021 and 2020, respectively. In January 2020, the Company entered into a Securities Purchase Agreement (the “SPA”) with certain institutional investors (the “Institutional Private Placement”). Pursuant to the SPA, the Company issued and sold 1,640 1,000 9 2.50 In addition, a holder may at any time, alternatively, convert all, or any part, of its Series D Preferred Shares at an alternative conversion price, which equals the lower of the applicable conversion price then in effect, and the greater of (x) $1.80 and (y) 85% of the average volume weighted average price (“VWAP”) of the Common Stock for a five (5) trading day period prior to such conversion. Upon the occurrence of certain triggering events, described in the Certificate of Designations, including, but not limited to payment defaults, breaches of transaction documents, failure to maintain listing on the Nasdaq Capital Market, and other defaults set forth therein, the Series D Preferred Shares would become subject to redemption, at the option of a holder, at a 125% premium to the underlying value of the Series D Preferred Shares being redeemed At September 30, 2021 there were 132 2.50 62,832 Concurrent with the Institutional Private Placement, the Company entered into a Securities Purchase Agreement (the “SPA”) with certain of its directors and the Company’s previously largest shareholder (the “Other Private Placement”). Pursuant to the SPA, the Company issued and sold 333 shares of the Company’s newly created Series E Convertible Preferred Stock (the “Series E Preferred Stock”). Dividends accrue at a dividend rate of 9 % per annum and, on a monthly basis, shall be payable in kind by the increase of the Stated Value of the Series E Preferred Shares by said amount. The Series E Preferred Stock is initially convertible into 48,544 shares of Common Stock. At September 30, 2021, all of the issued Series E Convertible Preferred Stock were outstanding, which if converted as of September 30, 2021, including the make-whole dividends, would have resulted in the issuance of 61,651 Deferred Compensation In previous years and in the nine months ended September 30, 2021, the Company issued to various employees, directors, and contractors shares of the Company’s common stock, subject to restrictions, pursuant to the 2013 Equity Incentive Plan (the “2013 Plan”). Such shares are valued at the fair value at the date of issue. The fair value is expensed as compensation over the vesting period and recorded as an increase to stockholders’ equity. During the nine months ended September 30, 2021 and September 30, 2020, $ 0 15,740 At September 30, 2021, there was no Stock Options On July 15, 2021, at the Annual Meeting of Stockholders of the Company, the Company’s stockholders approved an amendment to the 2013 Equity Incentive Plan to increase the number of shares of the Company’s common stock reserved for issuance under the 2013 Plan by 875,000 1,765,000 As of September 30, 2021, an aggregate of 335,152 During the nine months ended September 30, 2021, the Company granted options to purchase a total of 697,831 During the nine months ended September 30, 2020, the Company granted options to purchase a total of 472,183 The Company generally grants stock options to employees and directors at exercise prices equal to the fair market value of the Company’s stock on the dates of grant. Stock options are typically granted throughout the year and generally vest over four years of service and expire five years from the date of the award, unless otherwise specified. The Company recognizes compensation expense for the fair value of the stock options over the requisite service period for each stock option award. Total share-based compensation expense included in the statements of operations for the nine months ended September 30, 2021 and 2020 is $ 893,431 483,208 of which $ 874,176 467,468 is related to stock options, respectively. The fair value of share-based awards was estimated using the Black-Scholes model with the following weighted-average assumptions for the nine months ended September 30, 2021 and 2020: Assumptions: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions 2021 2020 Dividend yield 0.00 % 0.00 % Risk-free interest rate 0.19 0.70 % 0.22 1.52 % Expected volatility 116.8 123.8 % 114.0 117.0 % Expected life (in years) 5 5 Option activity for the nine months ended September 30, 2021 and the year ended December 31, 2020 was as follows: Schedule of Stock Option Activity Weighted Average Weighted Average Exercise Remaining Aggregate Price Contractual Intrinsic Options ($) Life (Yrs.) Value ($) Options outstanding at December 31, 2019 180,912 18.11 5.09 25,988 Granted 579,998 2.55 4.57 - Exercised - - - - Forfeited or cancelled (47,900 ) 22.62 - - Options outstanding at December 31, 2020 713,010 5.15 4.40 477,802 Granted 697,831 3.29 4.64 46,800 Exercised (5,204 ) 2.50 - - Forfeited or cancelled (5,230 ) 4.41 - - Options outstanding September 30, 2021 1,400,407 4.24 4.14 267,577 Options expected to vest in the future as of September 30, 2021 574,146 3.59 4.29 110,275 Options exercisable at September 30, 2021 826,261 4.68 4.04 157,302 Options vested, exercisable, and options expected to vest at September 30, 2021 1,400,407 4.24 4.14 267,577 The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted price of our common stock for those awards that have an exercise price currently below the $ 3.02 3.02 At September 30, 2021, there was $ 1,544,383 3.0 Stock Appreciation Rights On June 23, 2020, the board of directors (the “Board”) of the Company adopted the Sigma Labs, Inc. 2020 Stock Appreciation Rights Plan (the “Plan”). The purposes of the Plan are to: (i) enable the Company to attract and retain the types of employees, consultants and directors (collectively, “Service Providers”) who will contribute to the Company’s long range success; (ii) provide incentives that align the interests of Service Providers with those of the shareholders of the Company; and (iii) promote the success of the Company’s business. The Plan provides for incentive awards that are only made in the form of stock appreciation rights payable in cash (“SARs”). No shares of common stock were reserved in connection with the adoption of the Plan since no shares will be issued pursuant to the Plan. SARs may be granted to any Service Provider. A SAR is the right to receive an amount equal to the Spread with respect to a share of the Company’s common stock (“Share”) upon the exercise of the SAR. The “Spread” is the difference between the exercise price per share specified in a SAR agreement on the date of grant and the fair market value per share on the date of exercise of the SAR. The exercise price per share will not be less than 100% of the fair market value of a Share on the date of grant of the SAR. The administrator of the Plan will have the authority to, among other things, prescribe the terms and conditions of each SAR, including, without limitation, the exercise price and medium of payment and vesting provisions, and to specify the provisions of the SAR Agreement relating to such grant. On August 11, 2021, the Company granted, pursuant to the Plan, (i) 77,748 30,313 76,304 48,580 3.42 On June 23, 2020, the Company granted, pursuant to the Plan, (i) 60,094 12,019 24,038 18,028 2.63 SARs expire on the fifth anniversary of the grant date and may be settled only in cash. Additionally, each such SAR will vest and become exercisable in three equal (as closely as possible) installments on each of the first, second and third anniversaries of the grant date, subject, in each case, to the applicable SAR holder being in the continuous employ of the Company on the applicable vesting date, and, in the event of a Change in Control (as defined in the Plan), will become immediately vested and exercisable as long as the applicable holder is in the Company’s employ immediately prior to the Change in Control, and will otherwise be on such other terms set forth in the form of Stock Appreciation Rights Agreement. The Company recognizes compensation expense and a corresponding liability for the fair value of the SARs over the requisite service period for each SAR award. The SAR’s are revalued at each reporting date in accordance with ASC 718 “Compensation-Stock Compensation”, and any changes in fair value are reflected in income as of the applicable reporting date. The fair value of SAR awards was estimated using the Black-Scholes model with the following weighted-average assumptions for the nine months ended September 30, 2021 and 2020: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions Assumptions: 2021 2020 Dividend yield 0.00 % 0.00 % Risk-free interest rate 0.4 % 0.22 % Expected volatility 122.8 % 116.8 % Expected life (in years) 5 5 SARs activity for the nine months ended September 30, 2021 was as follows: Schedule of Stock Option Activity Weighted Average Weighted Average Exercise Remaining Aggregate Price Contractual Intrinsic SARs ($) Life (Yrs.) Value ($) SARs outstanding at December 31, 2020 127,679 2.61 4.52 97,919 Granted 242,945 3.43 4.86 - Exercised - - - - Forfeited or cancelled - - - - SARs outstanding September 30, 2021 370,624 3.15 4.49 51,955 SARs expected to vest in the future as of September 30, 2021 250,975 3.19 4.52 29,687 SARs exercisable at September 30, 2021 119,649 3.08 4.42 22,268 SARs vested, exercisable, and options expected to vest at September 30, 2021 370,624 3.15 4.49 51,955 The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted price of our common stock for those awards that have an exercise price currently below the $ 3.02 3.02 At September 30, 2021, there was $ 614,947 2.87 Warrants Warrant activity for the nine months ended September 30, 2021 and 2020 was as follows: Summary of Warrant Activity Weighted Average Weighted Average Exercise Remaining Price Contractual Warrants ($) Life (Yrs.) Warrants outstanding at December 31, 2019 363,727 25.60 3.12 Granted 1,481,995 3.22 4.89 Exercised - - - Forfeited or cancelled - - - Warrants outstanding at September 30, 2020 1,845,722 7.64 4.39 Warrants outstanding at December 31, 2020 1,881,429 7.57 4.16 Granted 2,602,143 4.36 1.89 Exercised (495,641 ) 2.59 - Forfeited or cancelled - - - Warrants outstanding at September 30, 2021 3,987,931 6.10 2.36 In connection with its March 2021 private placement, the Company issued warrants to purchase 2,190,000 4.32 May 24, 2021 two years 175,200 8 125 5.55625 8.0 In connection with its January 2021 public offering, the Company issued to the Underwriter or its designee warrants to purchase 136,943 five years 3.75 On January 8, 2021, the Company obtained a waiver (“Waiver”) from certain investors (“Investors”) with respect to certain anti-dilution adjustment provisions of a January 2020 warrant and an April 2020 warrant issued to the Investors. As consideration for the Waiver, the Company issued an additional warrant (“Warrant”) to the Investors to purchase an aggregate of 100,000

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	NOTE 6 - Subsequent Events The Company performed an evaluation of subsequent events through the date of filing of these condensed financial statements with the SEC. There were no material subsequent events which affected, or could affect, the amounts or disclosures in the condensed financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Nature of Business	Nature of Business
Basis of Presentation	Basis of Presentation
Reclassification	Reclassification
Fair Value of Financial Instruments	Fair Value of Financial Instruments . ● Level 1 - inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. ● Level 2 - inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. ● Level 3 - inputs to valuation methodology are unobservable and significant to the fair measurement. The carrying amounts reported in the balance sheets for the cash and cash equivalents, receivables, accounts payable, and accrued liabilities each qualify as financial instruments and are a reasonable estimate of fair value because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The Company does not use derivative instruments for hedging of market risk or for trading or speculative purposes. On March 26, 2021, the Company closed an offering in which it issued warrants to purchase an aggregate of 2,190,000 May 24, 2021 12,000,000 24,000,000 Pursuant to ASC 815-40-25-10, because the Company did not have sufficient authorized and unissued shares of common stock available to settle the warrants at the issue date, such warrants were accounted for as a derivative liability. On May 24, 2021, upon receiving shareholder approval to increase its authorized common shares, the Company reclassified the warrant liability to equity pursuant to ASC 815.40.35.8. The fair value of the warrant liability measured on a recurring basis is as follows: Schedule of Warrant Liability Measured on Recurring Basis September 30, 2021 Date of Issuance March 26, 2021 Fair Value Input Level Fair Value Input Level Derivative Liability - Warrants $ - - $ 5,708,212 Level 3 The following table presents a reconciliation of the derivative liability measured at fair value on a recurring basis using significant unobservable input (Level 3): Schedule of Derivative Liability Measured on a Recurring Basis Using Significant Unobservable Input (Level 3) Warrants Fair Value on Issuance Date $ 5,708,212 Change in Fair Value (1,092,441 ) Fair Value on May 24, 2021 4,615,771 Extinguishment of Derivative Liability (4,615,771 ) Fair Value on September 30, 2021 $ -
Loss Per Share	Loss Per Share Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share September 30, 2021 2020 Warrants 3,987,931 1,845,722 Preferred Stock Warrants - 260,089 Stock Options 1,400,407 610,229 Preferred Stock 124,483 227,695 Total Underlying Common Shares 5,512,821 2,943,735 The following data shows the amounts used in computing loss per share and the effect on income and the weighted average number of shares of dilutive potential common stock for the periods ended September 30, 2021 and 2020: Schedule of Earnings Per Share, Basic and Diluted 2021 2020 2021 2020 Three Months Ended Nine Months Ended 2021 2020 2021 2020 Net Loss per Common Share - Basic and Diluted $ (0.24 ) $ (0.42 ) $ (0.53 ) $ (1.74 ) Loss from continuing Operations available to Common stockholders (numerator) $ (2,505,198 ) $ (1,955,357 ) $ (5,076,532 ) $ (5,455,707 ) Loss from continuing Operations available to Common stockholders (numerator) $ (2,505,198 ) $ (1,955,357 ) $ (5,076,532 ) $ (5,455,707 ) Weighted average number of common shares Outstanding used in loss per share during the Period (denominator) 10,494,560 4,675,749 9,602,666 3,137,459
Recently Enacted Accounting Standards	Recently Enacted Accounting Standards
Accounting Estimates	Accounting Estimates

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Schedule of Warrant Liability Measured on Recurring Basis	The fair value of the warrant liability measured on a recurring basis is as follows: Schedule of Warrant Liability Measured on Recurring Basis September 30, 2021 Date of Issuance March 26, 2021 Fair Value Input Level Fair Value Input Level Derivative Liability - Warrants $ - - $ 5,708,212 Level 3
Schedule of Derivative Liability Measured on a Recurring Basis Using Significant Unobservable Input (Level 3)	The following table presents a reconciliation of the derivative liability measured at fair value on a recurring basis using significant unobservable input (Level 3): Schedule of Derivative Liability Measured on a Recurring Basis Using Significant Unobservable Input (Level 3) Warrants Fair Value on Issuance Date $ 5,708,212 Change in Fair Value (1,092,441 ) Fair Value on May 24, 2021 4,615,771 Extinguishment of Derivative Liability (4,615,771 ) Fair Value on September 30, 2021 $ -
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share September 30, 2021 2020 Warrants 3,987,931 1,845,722 Preferred Stock Warrants - 260,089 Stock Options 1,400,407 610,229 Preferred Stock 124,483 227,695 Total Underlying Common Shares 5,512,821 2,943,735
Schedule of Earnings Per Share, Basic and Diluted	The following data shows the amounts used in computing loss per share and the effect on income and the weighted average number of shares of dilutive potential common stock for the periods ended September 30, 2021 and 2020: Schedule of Earnings Per Share, Basic and Diluted 2021 2020 2021 2020 Three Months Ended Nine Months Ended 2021 2020 2021 2020 Net Loss per Common Share - Basic and Diluted $ (0.24 ) $ (0.42 ) $ (0.53 ) $ (1.74 ) Loss from continuing Operations available to Common stockholders (numerator) $ (2,505,198 ) $ (1,955,357 ) $ (5,076,532 ) $ (5,455,707 ) Loss from continuing Operations available to Common stockholders (numerator) $ (2,505,198 ) $ (1,955,357 ) $ (5,076,532 ) $ (5,455,707 ) Weighted average number of common shares Outstanding used in loss per share during the Period (denominator) 10,494,560 4,675,749 9,602,666 3,137,459

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory	At September 30, 2021 and December 31, 2020, the Company’s inventory was comprised of: Schedule of Inventory September 30, 2021 December 31, 2020 Raw Materials $ 312,181 $ 309,305 Work in Process 260,380 175,884 Finished Goods 283,986 174,462 Total Inventory $ 856,547 $ 659,651

Derivative Liability (Tables)

Derivative Liability (Tables)	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Derivative Liability Using Black Scholes Valuation Model	The fair value of the derivative liability presented below was measured using the Black Scholes valuation model. Significant inputs into the model for the nine months ended September 30, 2021 are as follows: Schedule of Fair Value of Derivative Liability Using Black Scholes Valuation Model September 30, 2021 Dividend yield 0.00 % Risk-free interest rate 0.6 0.7 % Expected volatility 121.2 124.0 % Expected life (in years) 2
Schedule of Fair Value of Warrant Liability	The warrants outstanding and fair values at each of the respective valuation dates are summarized below: Schedule of Fair Value of Warrant Liability Warrant Liability Warrants Outstanding Fair Value Per Share Fair Value Fair Value at initial measurement date of March 26, 2021 2,190,000 $ 2.61 $ 5,708,212 (Gain) on change in Fair Value of Warrant Liability - $ - (1,092,441 ) Fair Value as of May 24, 2021 2,190,000 $ 2.11 4,615,771 Extinguishment of Derivative Liability (2,190,000 ) $ 2.11 (4,615,771 ) Fair Value as of September 30, 2021 - $ - -

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The fair value of share-based awards was estimated using the Black-Scholes model with the following weighted-average assumptions for the nine months ended September 30, 2021 and 2020: Assumptions: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions 2021 2020 Dividend yield 0.00 % 0.00 % Risk-free interest rate 0.19 0.70 % 0.22 1.52 % Expected volatility 116.8 123.8 % 114.0 117.0 % Expected life (in years) 5 5
Schedule of Stock Option Activity	Option activity for the nine months ended September 30, 2021 and the year ended December 31, 2020 was as follows: Schedule of Stock Option Activity Weighted Average Weighted Average Exercise Remaining Aggregate Price Contractual Intrinsic Options ($) Life (Yrs.) Value ($) Options outstanding at December 31, 2019 180,912 18.11 5.09 25,988 Granted 579,998 2.55 4.57 - Exercised - - - - Forfeited or cancelled (47,900 ) 22.62 - - Options outstanding at December 31, 2020 713,010 5.15 4.40 477,802 Granted 697,831 3.29 4.64 46,800 Exercised (5,204 ) 2.50 - - Forfeited or cancelled (5,230 ) 4.41 - - Options outstanding September 30, 2021 1,400,407 4.24 4.14 267,577 Options expected to vest in the future as of September 30, 2021 574,146 3.59 4.29 110,275 Options exercisable at September 30, 2021 826,261 4.68 4.04 157,302 Options vested, exercisable, and options expected to vest at September 30, 2021 1,400,407 4.24 4.14 267,577
Summary of Warrant Activity	Warrant activity for the nine months ended September 30, 2021 and 2020 was as follows: Summary of Warrant Activity Weighted Average Weighted Average Exercise Remaining Price Contractual Warrants ($) Life (Yrs.) Warrants outstanding at December 31, 2019 363,727 25.60 3.12 Granted 1,481,995 3.22 4.89 Exercised - - - Forfeited or cancelled - - - Warrants outstanding at September 30, 2020 1,845,722 7.64 4.39 Warrants outstanding at December 31, 2020 1,881,429 7.57 4.16 Granted 2,602,143 4.36 1.89 Exercised (495,641 ) 2.59 - Forfeited or cancelled - - - Warrants outstanding at September 30, 2021 3,987,931 6.10 2.36
Stock Appreciation Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The fair value of SAR awards was estimated using the Black-Scholes model with the following weighted-average assumptions for the nine months ended September 30, 2021 and 2020: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions Assumptions: 2021 2020 Dividend yield 0.00 % 0.00 % Risk-free interest rate 0.4 % 0.22 % Expected volatility 122.8 % 116.8 % Expected life (in years) 5 5
Schedule of Stock Option Activity	SARs activity for the nine months ended September 30, 2021 was as follows: Schedule of Stock Option Activity Weighted Average Weighted Average Exercise Remaining Aggregate Price Contractual Intrinsic SARs ($) Life (Yrs.) Value ($) SARs outstanding at December 31, 2020 127,679 2.61 4.52 97,919 Granted 242,945 3.43 4.86 - Exercised - - - - Forfeited or cancelled - - - - SARs outstanding September 30, 2021 370,624 3.15 4.49 51,955 SARs expected to vest in the future as of September 30, 2021 250,975 3.19 4.52 29,687 SARs exercisable at September 30, 2021 119,649 3.08 4.42 22,268 SARs vested, exercisable, and options expected to vest at September 30, 2021 370,624 3.15 4.49 51,955

Schedule of Warrant Liability M

Schedule of Warrant Liability Measured on Recurring Basis (Details) - Warrant [Member] - USD ($)	Sep. 30, 2021	May 24, 2021	Mar. 26, 2021
Defined Benefit Plan Disclosure [Line Items]
Derivative liability - Warrants		$ 4,615,771	$ 5,708,212
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Derivative liability - Warrants		$ 4,615,771	$ 5,708,212

Schedule of Derivative Liabilit

Schedule of Derivative Liability Measured on a Recurring Basis Using Significant Unobservable Input (Level 3) (Details) - Warrant [Member] - USD ($)	2 Months Ended	4 Months Ended
	May 24, 2021	Sep. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Fair Value	$ 5,708,212	$ 4,615,771
Change in fair value	(1,092,441)
Extinguishment of Derivative Liability		(4,615,771)
Fair Value	4,615,771
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value	5,708,212	4,615,771
Change in fair value	(1,092,441)
Extinguishment of Derivative Liability		(4,615,771)
Fair Value	$ 4,615,771

Schedule of Antidilutive Securi

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	5,512,821	2,943,735
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	3,987,931	1,845,722
Preferred Stock Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount		260,089
Equity Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	1,400,407	610,229
Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	124,483	227,695

Schedule of Earnings Per Share,

Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Accounting Policies [Abstract]
Net Loss per Common Share - Basic and Diluted	$ (0.24)	$ (0.42)	$ (0.53)	$ (1.74)
Loss from continuing Operations available to Common stockholders (numerator)	$ (2,505,198)	$ (1,955,357)	$ (5,076,532)	$ (5,455,707)
Weighted average number of common shares Outstanding used in loss per share during the Period (denominator)	10,494,560	4,675,749	9,602,666	3,137,459

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Narrative) - shares	Mar. 26, 2021	Sep. 30, 2021	Jun. 30, 2021	May 24, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Aggregate warrant purchase of shares	2,190,000
Warrant exercisable date	May 24, 2021
Common shares authorized		24,000,000	24,000,000	12,000,000	24,000,000

Schedule of Inventory (Details)

Schedule of Inventory (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw Materials	$ 312,181	$ 309,305
Work in Process	260,380	175,884
Finished Goods	283,986	174,462
Total Inventory	$ 856,547	$ 659,651

CARES Act Deferred Payroll Ta_2

CARES Act Deferred Payroll Tax Liability (Details Narrative)	9 Months Ended
	Sep. 30, 2021USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferral payments, description	Pursuant to sections 2302(a)(1) and (a)(2) of the CARES Act, the Company has elected to defer payments of its share of Social Security tax due during the “payroll tax deferral period”. The payroll tax deferral period began on March 27, 2020 and ended on December 31, 2020. At September 30, 2021 the total amount of such deferral was $75,455. Per the terms of the deferral program, 50% of the deferred amount is due on December 31, 2021, and the remaining 50% is due on December 31, 2022 at 0% interest.
Deferral amount	$ 75,455
December 31, 2021 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferral program, percentage	50.00%
December 31, 2022 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferral program, percentage	50.00%

Schedule of Fair Value of Deriv

Schedule of Fair Value of Derivative Liability Using Black Scholes Valuation Model (Details)	9 Months Ended
	Sep. 30, 2021
Measurement Input, Expected Dividend Rate [Member]
Derivative [Line Items]
Derivative liability, measurement input	0
Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member]
Derivative [Line Items]
Derivative liability, measurement input	0.006
Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member]
Derivative [Line Items]
Derivative liability, measurement input	0.007
Measurement Input, Price Volatility [Member] | Minimum [Member]
Derivative [Line Items]
Derivative liability, measurement input	1.212
Measurement Input, Price Volatility [Member] | Maximum [Member]
Derivative [Line Items]
Derivative liability, measurement input	1.240
Measurement Input, Expected Term [Member]
Derivative [Line Items]
Derivative liability, Expected life (in years)	2 years

Schedule of Fair Value of Warra

Schedule of Fair Value of Warrant Liability (Details) - Warrant [Member] - USD ($)	2 Months Ended	4 Months Ended
	May 24, 2021	Sep. 30, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Fair Value Warrants Outstanding Beginning Balance	$ 2,190,000	$ 2,190,000
Fair Value Per Share Beginning Balance	$ 2.61	$ 2.11
Fair Value	$ 5,708,212	$ 4,615,771
(Gain) on change in Fair Value of warrant outstanding
(Gain) on change in Fair Value of Warrant Liability, Per Share
(Gain) on change in Fair Value of Warrant Liability, Fair value	$ (1,092,441)
Extinguishment of Derivative Liability Outstanding		$ (2,190,000)
Extinguishment of Derivative Liability, Per Share		$ 2.11
Extinguishment of Derivative Liability, Fair Value		$ (4,615,771)
Fair Value Warrants Outstanding Ending Balance	$ 2,190,000
Fair Value Per Share Ending Balance	$ 2.11
Fair Value	$ 4,615,771

Derivative Liability (Details N

Derivative Liability (Details Narrative) - USD ($)	Mar. 26, 2021	Jan. 31, 2021	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021	May 24, 2021	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Warrants to purchase shares of common stock	2,190,000
Number of common shares issued	2,190,000	1,711,783
Share price per share	$ 4.32	$ 3
Warrant exercisable date	May 24, 2021
Warrant term	2 years	5 years
Common stock, shares authorized			24,000,000		24,000,000	12,000,000	24,000,000
Derivative, gain on derivative			$ 1,092,441

Schedule of Share-based Payment

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Equity [Abstract]
Dividend yield	0.00%	0.00%
Risk-free interest rate, minimum	0.19%	0.22%
Risk-free interest rate, maximum	0.70%	1.52%
Expected volatility, minimum	116.80%	114.00%
Expected volatility, maximum	123.80%	117.00%
Expected life (in years)	5 years	5 years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%	0.00%
Expected life (in years)	5 years	5 years
2020 Stock Appreciation Rights Plan [Member]
Equity [Abstract]
Dividend yield	0.00%	0.00%
Expected life (in years)	5 years	5 years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%	0.00%
Risk-free interest rate	0.40%	0.22%
Expected volatility	122.80%	116.80%
Expected life (in years)	5 years	5 years

Schedule of Stock Option Activi

Schedule of Stock Option Activity (Details) - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options, Outstanding, Beginning Balance	713,010	180,912	180,912
Weighted Average Exercise Price, Outstanding Beginning Balance	$ 4.24		$ 5.15
Weighted Average Remaining Contractual Life, Outstanding Beginning			5 years 1 month 2 days
Aggregate Intrinsic Value, Outstanding Beginning Balance	$ 477,802	$ 25,988	$ 25,988
Number of Options, Granted	697,831	472,183	579,998
Weighted Average Exercise Price, Granted	$ 3.29		$ 2.55
Weighted Average Remaining Contractual Life, Granted	4 years 7 months 20 days		4 years 6 months 25 days
Aggregate Intrinsic Value, Granted	$ 46,800
Number of Options, Exercised	(5,204)
Weighted Average Exercise Price, Exercised	$ 2.50
Weighted Average Remaining Contractual Life, Exercised
Aggregate Intrinsic Value, Exercised
Number of Options, Forfeited or cancelled	(5,230)		(47,900)
Weighted Average Exercise Price, Forfeited or cancelled	$ 4.41		$ 22.62
Weighted Average Remaining Contractual Life, Forfeited or cancelled
Aggregate Intrinsic Value, Forfeited or cancelled
Weighted Average Exercise Price, Outstanding Beginning Balance	$ 5.15	$ 18.11	$ 18.11
Weighted Average Remaining Contractual Life, Outstanding	4 years 1 month 20 days		4 years 4 months 24 days
[custom:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeitedorCancelledInPeriodTotalIntrinsicValue]
Number of Options, Outstanding Ending Balance	1,400,407		713,010
Weighted Average Exercise Price, Outstanding	$ 4.24		$ 5.15
Aggregate Intrinsic Value, Outstanding Ending Balance	$ 267,577		$ 477,802
Number of Options, Expected to vest in the future Ending Balance	574,146
Weighted Average Exercise Price, Expected to Vest	$ 3.59
Weighted Average Remaining Contractual Life, Expected to Vest	4 years 3 months 14 days
Aggregate Intrinsic Value, Options expected to vest in the future	$ 110,275
Number of Options, Exercisable	826,261
Weighted Average Exercise Price, Exercisable	$ 4.68
Weighted Average Remaining Contractual Life, Exercisable	4 years 14 days
Aggregate Intrinsic Value, Options exercisable	$ 157,302
Number of Options, Vested, Exercisable and Options Expected to Vest Ending Balance	1,400,407
Weighted Average Exercise Price, Vested, Exercisable and Options Expected to Vest	$ 4.24
Weighted Average Remaining Contractual Life, Vested, Exercisable and Options Expected to Vest	4 years 1 month 20 days
Aggregate Intrinsic Value, Options vested, exercisable and options expected to vest	$ 267,577
Number of Options, Forfeited or cancelled	5,230		47,900
Weighted Average Exercise Price, Vested, Exercisable and Options Expected to Vest	$ 4.24
Stock Appreciation Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options, Outstanding, Beginning Balance	127,679
Weighted Average Exercise Price, Outstanding Beginning Balance	$ 3.15		$ 2.61
Weighted Average Remaining Contractual Life, Outstanding Beginning	4 years 6 months 7 days
Aggregate Intrinsic Value, Outstanding Beginning Balance	$ 97,919
Number of Options, Granted	242,945
Weighted Average Exercise Price, Granted	$ 3.43
Weighted Average Remaining Contractual Life, Granted	4 years 10 months 9 days
Aggregate Intrinsic Value, Granted
Number of Options, Exercised
Weighted Average Exercise Price, Exercised
Weighted Average Remaining Contractual Life, Exercised
Aggregate Intrinsic Value, Exercised
Number of Options, Forfeited or cancelled
Weighted Average Remaining Contractual Life, Forfeited or cancelled
Aggregate Intrinsic Value, Forfeited or cancelled
Weighted Average Exercise Price, Outstanding Beginning Balance	$ 2.61
Weighted Average Remaining Contractual Life, Outstanding	4 years 5 months 26 days
[custom:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeitedorCancelledInPeriodTotalIntrinsicValue]
Number of Options, Outstanding Ending Balance	370,624		127,679
Weighted Average Exercise Price, Outstanding	$ 3.15		$ 2.61
Aggregate Intrinsic Value, Outstanding Ending Balance	$ 51,955		$ 97,919
Number of Options, Expected to vest in the future Ending Balance	250,975
Weighted Average Exercise Price, Expected to Vest	$ 3.19
Weighted Average Remaining Contractual Life, Expected to Vest	4 years 6 months 7 days
Aggregate Intrinsic Value, Options expected to vest in the future	$ 29,687
Number of Options, Exercisable	119,649
Weighted Average Exercise Price, Exercisable	$ 3.08
Weighted Average Remaining Contractual Life, Exercisable	4 years 5 months 1 day
Aggregate Intrinsic Value, Options exercisable	$ 22,268
Number of Options, Vested, Exercisable and Options Expected to Vest Ending Balance	370,624
Weighted Average Exercise Price, Vested, Exercisable and Options Expected to Vest	$ 3.15
Weighted Average Remaining Contractual Life, Vested, Exercisable and Options Expected to Vest	4 years 5 months 26 days
Aggregate Intrinsic Value, Options vested, exercisable and options expected to vest	$ 51,955
Number of Options, Forfeited or cancelled
Weighted Average Exercise Price, Vested, Exercisable and Options Expected to Vest	$ 3.15

Summary of Warrant Activity (De

Summary of Warrant Activity (Details) - $ / shares	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Equity [Abstract]
Number of Shares, Warrants Outstanding, Beginning balance	1,881,429	363,727
Weighted Average Exercise Price, Warrants outstanding, Beginning balance	$ 7.57	$ 25.60
Weighted Average Remaining Contractual Life (Years), Warrants outstanding, Beginning balance	4 years 1 month 28 days	3 years 1 month 13 days
Number of Shares, Warrants Granted	2,602,143	1,481,995
Weighted Average Exercise Price, Warrants Granted	$ 4.36	$ 3.22
Weighted Average Remaining Contractual Life (Years), Warrants Granted	1 year 10 months 20 days	4 years 10 months 20 days
Number of Shares, Warrants Exercised	(495,641)
Weighted Average Exercise Price, Warrants Exercised	$ 2.59
Weighted Average Remaining Contractual Life (Years), Warrants Exercised
Number of Shares, Warrants Forfeited or Cancelled
Weighted Average Exercise Price, Warrants Forfeited or cancelled
Weighted Average Remaining Contractual Life (Years), Warrants Forfeited or cancelled
Number of Shares, Warrants Outstanding, Ending balance	3,987,931	1,845,722
Weighted Average Exercise Price, Warrants outstanding, Ending balance	$ 6.10	$ 7.64
Weighted Average Remaining Contractual Life (Years), Warrants outstanding, Ending balance	2 years 4 months 9 days	4 years 4 months 20 days

Stockholders_ Equity (Details N

Stockholders’ Equity (Details Narrative)	Sep. 30, 2021USD ($)$ / sharesshares	Aug. 11, 2021$ / sharesshares	Jul. 15, 2021shares	Mar. 31, 2021USD ($)$ / sharesshares	Mar. 26, 2021$ / sharesshares	Feb. 28, 2021shares	Jan. 31, 2021USD ($)$ / sharesshares	Jan. 08, 2021shares	Jun. 23, 2020$ / sharesshares	Apr. 06, 2020USD ($)$ / sharesshares	Sep. 30, 2021USD ($)$ / sharesshares	Mar. 31, 2021$ / sharesshares	Jan. 31, 2020$ / sharesshares	Sep. 30, 2021USD ($)$ / sharesshares	Sep. 30, 2020USD ($)$ / sharesshares	Dec. 31, 2020$ / sharesshares	Jun. 30, 2021shares	May 24, 2021$ / sharesshares
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock, shares authorized	24,000,000										24,000,000			24,000,000		24,000,000	24,000,000	12,000,000
Stock issued during the period					2,190,000		1,711,783
Share price per share | $ / shares					$ 4.32		$ 3
Proceeds from public offering | $							$ 4,532,445
Term of warrants					2 years		5 years
Warrants exercise price | $ / shares							$ 3.75
Number of shares, warrants exercised														495,641
Warrants to purchase shares of common stock					2,190,000
Warrants exercisable date					May 24, 2021
Preferred Stock, Shares Authorized	10,000,000										10,000,000			10,000,000	10,000,000	10,000,000
Preferred stock, par value | $ / shares	$ 0.001										$ 0.001			$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares outstanding	465										465			465	583	715
Preferred stock, shares issued	465										465			465	583	715
Unrecognized share based compensation cost | $	$ 0										$ 0			$ 0	$ 15,740
Unrecognized deferred compensation expense to be recognized over remainder of year | $	0										0			$ 0	$ 0
Number of shares granted, description														the Company granted options to purchase a total of 697,831 shares of common stock to 34 employees, 4 directors and 4 consultants with vesting periods ranging from immediately upon issuance to three years beginning January 4, 2021.	the Company granted options to purchase a total of 472,183 shares of common stock to 20 employees, 5 directors and 5 consultants with vesting periods ranging from immediately upon issuance to 3 years beginning July 31, 2020.
Number of shares granted														697,831	472,183	579,998
Share-based Payment Arrangement, Expense | $														$ 893,431	$ 483,208
Options exercise price | $ / shares														$ 3.02
Stock options compensation cost | $	$ 1,544,383										$ 1,544,383			$ 1,544,383
Weighted average remaining recognition period														3 years
Investor [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock issued during the period								100,000
Warrants description								As consideration for the Waiver, the Company issued an additional warrant (“Warrant”) to the Investors to purchase an aggregate of 100,000 shares of common stock, each exercisable after six months for a five-year period with an exercise price equal to 115% of the closing price of the Company’s stock on the date of the waiver.
Dawson James Securities, Inc [Member] | Placement Agent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants to purchase shares of common stock										41,237
2013 Equity Incentive Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock issued during the period			1,765,000
Common shares granted for the period											5,204
Common stock shares reserved for issuance			875,000
2013 Stock Option Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock shares reserved for issuance	335,152										335,152			335,152
2020 Stock Appreciation Rights Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Options exercise price | $ / shares		$ 3.42							$ 2.63
2020 Stock Appreciation Rights Plan [Member] | President And Chief Executive Officer [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common shares granted for the period		77,748							60,094
2020 Stock Appreciation Rights Plan [Member] | Vice President [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common shares granted for the period		30,313							12,019
2020 Stock Appreciation Rights Plan [Member] | Chief Technology Officer [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common shares granted for the period		76,304							24,038
2020 Stock Appreciation Rights Plan [Member] | Chief Financial Officer [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common shares granted for the period		48,580							18,028
2020 Stock Appreciation Rights Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrecognized share based compensation cost | $	$ 614,947										$ 614,947			$ 614,947
Options exercise price | $ / shares														$ 3.02
Weighted average remaining recognition period														2 years 10 months 13 days
2021 Stock Appreciated Rights Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Options exercise price | $ / shares														$ 3.02
CorProminence [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock issued during the period				1,500
Share price per share | $ / shares				$ 4.99								$ 4.99
April 2020 Offering [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock issued during the period				21,591
Number of shares, warrants exercised				191,204
Placement Agent Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants exercise price | $ / shares				$ 5.55625								$ 5.55625
Warrants to purchase shares of common stock				175,200								175,200
Placement Agent Warrants [Member] | Measurement Input, Share Price [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Percentage of warrant exercise price				1.25								1.25
Series D Convertible Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock issued during the period	62,832														3,157,427
Conversion of stock, shares converted															6,109
Preferred stock dividend, shares															749,924
Preferred stock, shares outstanding	132										132			132
Conversion price per share | $ / shares	$ 2.50										$ 2.50			$ 2.50
Series D Preferred Stock [Member] | Institutional Securities Purchase Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share issued and sold during period, shares													1,640
Preferred stock, par value | $ / shares													$ 1,000
Dividends percentage													9.00%
Conversion price per share | $ / shares													$ 2.50
Conversion description													In addition, a holder may at any time, alternatively, convert all, or any part, of its Series D Preferred Shares at an alternative conversion price, which equals the lower of the applicable conversion price then in effect, and the greater of (x) $1.80 and (y) 85% of the average volume weighted average price (“VWAP”) of the Common Stock for a five (5) trading day period prior to such conversion. Upon the occurrence of certain triggering events, described in the Certificate of Designations, including, but not limited to payment defaults, breaches of transaction documents, failure to maintain listing on the Nasdaq Capital Market, and other defaults set forth therein, the Series D Preferred Shares would become subject to redemption, at the option of a holder, at a 125% premium to the underlying value of the Series D Preferred Shares being redeemed
Series E Convertible Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock issued during the period	61,651
Series E Convertible Preferred Stock [Member] | Other Securities Purchase Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Conversion of stock, shares converted	48,544
Share issued and sold during period, shares	333
Dividends percentage	9.00%
Private Placement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock issued during the period				119,000		263,200
Private Placement [Member] | Purchase Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Term of warrants				2 years								2 years
Warrants exercise price | $ / shares				$ 4.32								$ 4.32
Warrants to purchase shares of common stock				2,190,000								2,190,000
Warrants exercisable date												May 24, 2021
Public Offering [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock issued during the period				2,190,000
Share price per share | $ / shares				$ 4.445								$ 4.445
Proceeds from public offering | $				$ 8,736,487						$ 1,230,000
Share issued and sold during period, shares										493,027
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock issued during the period							136,943
Warrants exercise price | $ / shares					$ 2.61													$ 2.11
Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock issued during the period														3,901,783	493,027
Shares issued for services															25,851
Common Stock [Member] | Placement Agent Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Percentage of warrant exercise price				0.08								0.08
Common Stock [Member] | Placement Agent Warrants [Member] | Measurement Input, Share Price [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Percentage of warrant exercise price				0.080								0.080
Common Stock [Member] | Series D Convertible Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Conversion of stock, shares converted				250
Number of shares as in-kind payment, shares				19,000
Pre-funded Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants exercise price | $ / shares										$ 3.64
Warrants to purchase shares of common stock										22,438
Pre-funded Warrants [Member] | Series A Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants to purchase shares of common stock										515,465
Stock Options [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share-based Payment Arrangement, Expense | $														$ 874,176	$ 467,468