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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: 

   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: 

 

           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:

 

   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: 

  

   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:

 

           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:

 

   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