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SHAREHOLDERS' EQUITY (Tables)
3 Months Ended
Mar. 31, 2022
SHAREHOLDERS' EQUITY  
Schedule of significant assumptions used to estimate fair value

Risk-free interest rate

1.71

%  

Expected volatility

135 - 144

%  

Expected dividend yield

Nil

 

Expected term in years

8

 

Schedule of stock option activity

Three Months Ended March 31, 

2022

2021

Weighted

Weighted

Average

Average

Number of Stock

Exercise

Number of Stock

Exercise

    

Options

    

Price

    

Options

    

Price

Outstanding, beginning of period

 

2,180,000

$

1.18

 

3,100,000

$

0.28

Granted

 

1,830,000

$

1.40

 

$

Outstanding, end of period

 

4,010,000

$

1.28

 

3,100,000

$

0.28

Exercisable, end of period

 

1,752,500

$

0.92

 

2,725,000

$

0.19

Non-vested, end of period

 

2,257,500

$

1.56

 

375,000

$

0.83

Schedule of intrinsic value and weighted average remaining life for stock options

Weighted

Average

Remaining

As of March 31, 2022:

    

Intrinsic Value

Life

Stock options outstanding

$

908

3.4

Stock options exercisable

$

908

0.2

Stock options non-vested

$

7.2