STOCKHOLDERS’ EQUITY (Tables)
|
12 Months Ended |
Dec. 31, 2023 |
Equity [Abstract] |
|
SUMMARY OF BLACK-SCHOLES OPTION PRICING MODEL TO STOCK OPTIONS GRANTED ASSUMPTION |
In
applying the Black-Scholes option pricing model to options granted, the Company used the following assumptions:
SUMMARY
OF BLACK-SCHOLES OPTION PRICING MODEL TO STOCK OPTIONS GRANTED ASSUMPTION
| |
For
the Years Ended | |
| |
December
31, | |
| |
2023 | | |
2022 | | |
2021 | |
| |
| | |
| | |
| |
Risk
free interest rate | |
| 3.00%-4.14 | % | |
| 2.47%-3.25 | % | |
| 0.09%-1.539 | % |
Expected
term (years) | |
| 5.00 | | |
| 1.00-8.00 | | |
| 1.00-8.00 | |
Expected
volatility | |
| 115.9%-117.3% | | |
| 115%-133.4 | % | |
| 115.3%-140.7 | % |
Expected
dividends | |
| 0.00 | % | |
| 0.00 | % | |
| 0.00 | % |
|
SUMMARY OF OPTIONS ACTIVITY |
A
summary of the option activity during the year ended December 31, 2023 is presented below:
SUMMARY
OF OPTIONS ACTIVITY
| |
| | |
| | |
Weighted | | |
| |
| |
| | |
Weighted | | |
Average | | |
| |
| |
| | |
Average | | |
Remaining | | |
Aggregate | |
| |
Number
of | | |
Exercise | | |
Life | | |
Intrinsic | |
| |
Shares | | |
Price | | |
In
Years | | |
Value | |
Outstanding, January
1, 2023 | |
| 1,060,535 | | |
$ | 24.68 | | |
| | | |
| | |
Granted | |
| 30,000 | | |
| 18.80 | | |
| | | |
| | |
Exercised | |
| (123,850 | ) | |
| 1.99 | | |
| | | |
| | |
Cancelled/forfeited/expired | |
| (30,440 | ) | |
| 19.67 | | |
| | | |
| | |
Outstanding,
December 31, 2023 | |
| 936,245 | | |
$ | 24.68 | | |
| 2.7 | | |
$ | 253 | |
| |
| | | |
| | | |
| | | |
| | |
Exercisable,
December 31, 2023 | |
| 823,954 | | |
$ | 27.89 | | |
| 2.0 | | |
$ | 253 | |
|
SCHEDULE OF STOCK OPTIONS |
The
following table presents information related to stock options at December 31, 2023:
SCHEDULE
OF STOCK OPTIONS
| |
Options
Outstanding | | |
Options
Exercisable | |
| |
Weighted | | |
| | |
Weighted | | |
| |
Range
of | |
Average | | |
Outstanding | | |
Average | | |
Exercisable | |
Exercise | |
Exercise | | |
Number
of | | |
Remaining
Life | | |
Number
of | |
Price | |
Price | | |
Options | | |
In
Years | | |
Options | |
$1.73-$9.14 | |
| 2.18 | | |
| 206,571 | | |
| 0.7 | | |
| 206,571 | |
$15.51-$38.45 | |
| 34.19 | | |
| 689,142 | | |
| 1.2 | | |
| 587,351 | |
$40.82-$59.22 | |
| 46.50 | | |
| 40,532 | | |
| 0.1 | | |
| 30,032 | |
| |
| | | |
| 936,245 | | |
| 2.0 | | |
| 823,954 | |
|
SUMMARY OF BLACK-SCHOLES OPTION PRICING MODEL TO WARRANTS GRANTED ASSUMPTION |
In applying the Black-Scholes
option pricing model to warrants granted, the Company used the following assumptions:
SUMMARY
OF BLACK-SCHOLES OPTION PRICING MODEL TO WARRANTS GRANTED ASSUMPTION
| |
For
the Years Ended | |
| |
December
31, | |
| |
2023 | | |
2022 | | |
2021 | |
| |
| | |
| | |
| |
Risk free interest rate | |
| 3.39%-4.03 | % | |
| N/A | | |
| N/A | |
Expected term
(years) | |
| 5.00 | | |
| N/A | | |
| N/A | |
Expected volatility | |
| 115.9%-133.4 | % | |
| N/A | | |
| N/A | |
Expected dividends | |
| 0.00 | % | |
| N/A | | |
| N/A | |
|
SCHEDULE OF WARRANT ACTIVITY |
The
following table accounts for the Company’s warrant activity for the year ended December 31, 2023:
SCHEDULE
OF WARRANT ACTIVITY
| |
| | |
| | |
Weighted | | |
| |
| |
| | |
Weighted | | |
Average | | |
| |
| |
| | |
Average | | |
Remaining | | |
Aggregate | |
| |
Number
of | | |
Exercise | | |
Life | | |
Intrinsic | |
| |
Shares | | |
Price | | |
In
Years | | |
Value | |
Outstanding, January
1, 2023 | |
| 1,587,965 | | |
$ | 4.25 | | |
| | | |
| | |
Issued | |
| 1,145,914 | | |
| 9.69 | | |
| | | |
| | |
Exercised | |
| (1,587,965 | ) | |
| 4.25 | | |
| | | |
| | |
Outstanding,
December 31, 2023 | |
| 1,145,914 | | |
$ | 4.25 | | |
| 4.2 | | |
$ | - | |
| |
| | | |
| | | |
| | | |
| | |
Exercisable,
December 31, 2023 | |
| 1,145,914 | | |
$ | 4.25 | | |
| 4.2 | | |
$ | - | |
|
SCHEDULE OF STOCK WARRANTS |
The
following table presents information related to stock warrants at December 31, 2023:
SCHEDULE
OF STOCK WARRANTS
| |
Warrants
Outstanding | | |
Warrants
Exercisable | |
| |
Weighted | | |
| | |
Weighted | | |
| |
Range
of | |
Average | | |
Outstanding | | |
Average | | |
Exercisable | |
Exercise | |
Exercise | | |
Number
of | | |
Remaining
Life | | |
Number
of | |
Price | |
Price | | |
Warrants | | |
In
Years | | |
Warrants | |
| |
| | | |
| | | |
| | | |
| | |
$8.82-$11.56 | |
$ | 9.69 | | |
| 1,145,914 | | |
| 4.2 | | |
| 1,145,914 | |
| |
| | | |
| 1,145,914 | | |
| 4.2 | | |
| 1,145,914 | |
|