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STOCKHOLDERS’ EQUITY (Tables)
3 Months Ended
Mar. 31, 2022
Equity [Abstract]  
SCHEDULE OF STOCK OPTION ACTIVITY

The summary of option activity for the three months ended March 31, 2022 is as follows:

 

   Number of Options   Weighted Average Exercise Price   Weighted Average Contractual Life   Total Intrinsic Value 
Outstanding at December 31, 2020   3,800,943   $1.36    8.82      
Granted   1,532,500    1.51           
Forfeited   (1,682,500)   1.36           
Outstanding at December 31, 2021   3,650,943   $1.24    8.34   $1,951,117 
Granted/forfeited   

-

    -           
Outstanding at March 31, 2022   3,650,943    1.24    8.10    2,571,777 
Exercisable at March 31, 2022   2,561,023   $1.10    7.56   $2,160,932 
SCHEDULE OF OPTIONS OUTSTANDING AND EXERCISABLE

As of March 31, 2022, the Company had the following options outstanding:

 

Exercise

Price

  

Number of

Options

Outstanding

  

Number of

Options

Exercisable

  

Weighted Average

Remaining

Contractual Years

   Intrinsic Value 
$1.01    1,985,943    1,985,943    7.18   $1,846,927 
 1.25    665,000    265,080    8.85    458,850 
 1.37    200,000    190,000    8.39    114,000 
 1.75    800,000    120,000    9.66    152,000 
$1.24    3,650,943    2,561,023    8.10   $2,571,777 
SCHEDULE OF WARRANTS OUTSTANDING

 

   Number  

Weighted

Average Price

 
December 31, 2020   3,393,651   $2.13 
Issued pursuant to Unit Purchase Agreement   8,521,187    2.25 
Issued   230,000    1.39 
December 31, 2021   12,144,838   $2.20 
Issued pursuant to Unit Purchase Agreement   4,581,319    2.25 
Issued   300,000    0.01 
Exercised   (300,000)   0.01 
March 31, 2022   16,726,157   $2.21