STOCK OPTIONS (Tables)

12 Months Ended

Dec. 31, 2022

STOCK OPTIONS

Summary of Stock option award

	Options outstanding
	Number			Weighted average exercise price		Weighted average remaining contractual life (in years)
Outstanding January 1, 2020		6,090,000		$	1.78		5.61
Expired		-			-		-
Granted		410,000			2.34		8.94
Outstanding December 31, 2020		6,500,000		$	1.81		4.87
Expired		(200,000	)		1.81		-
Granted		128,000			1.77		9.48
Outstanding December 31, 2021		6,428,000		$	1.81		3.86
Expired		(20,000	)		3.43		-
Cancelled		(468,000	)		2.03		-
Granted		140,000		0.49-		9.94-
Outstanding December 31, 2022		6,080,000		$	1.76		2.92
Options exercisable		6,050,833		$	1.75		2.90

Summary of Fair value of options granted

Description	2022			2021			2020
Share price	$	1.30~0.40		$	1.75~1.83		$	1.81~2.86
Exercise price	$	0.38~3.43		$	1.75~1.83		$	1.81~2.86
Risk-free interest rate		2.93~3.57	%		1.60%~1.64	%		1.12%~1.67%	%
Expected volatility		116.39~119.84	%		107.05%~107.47	%		81.34%~106.56%	%
Expected option life in years		10.0	Yrs		10.0	Yrs		4~10	Yrs
Expected dividend yield		-			-			-