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STOCK OPTION PLAN AND STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
SCHEDULE OF FAIR MARKET VALUE

 

 

  

Number of

Shares

  

Fair Value

per Share

  

Weighted Average

Market Value per

Share

 
Shares Issued as of January 1, 2021   11,002,000   $0.0031.49   $0.10 
Shares Issued   3,899,200    0.0010.24    0.21 
Shares Issued as of December 31, 2021   18,706,909   $0.0011.49   $0.09 
Shares Issued   552,000    0.160.32    0.19 
Shares Issued as of December 31, 2022   19,258,909   $0.0011.49   $0.09 
SCHEDULE OF STOCK OPTIONS VALUATION ASSUMPTIONS

The fair value of stock options granted and revaluation of non-employee consultant options for the year ended December 31, 2022 and 2021 was calculated with the following assumptions:

 

 

   2022   2021 
Risk-free interest rate   1.024.66%   0.16 - 1.00%
Expected dividend yield   0%   0%
Volatility factor (monthly)   155.52%   175.34%
Expected life of option   3 years    3 years 
SCHEDULE OF STOCK OPTIONS ACTIVITY

 

 

  

Number of

Options

  

Exercise Price

per Share

  

Weighted Average

Exercise Price per

Share

 
Outstanding as of January 1, 2021   533,000   $0.001 - 1.21   $0.71 
Granted   135,000    0.001 - 0.20    0.20 
Exercised            
Options forfeited/cancelled            
Outstanding as of December 31, 2021   668,000   $0.001 - 1.21   $0.55 
Granted            
Exercised            
Options forfeited/cancelled   (144,000)   0.311.21    0.81 
Outstanding as of December 31, 2022   524,000   $0.0010.95   $0.44 

 

SCHEDULE OF STOCK OPTION VESTED

The following table summarizes information about stock options that are vested or expected to vest at December 31, 2022:

 

 

        Options Outstanding           Exercisable Options     
Exercise Price   Number of Options   Weighted Average Exercise Price Per Share   Weighted Average Remaining Contractual Life (Years)   Aggregate Intrinsic Value   Number of Options   Weighted Average Exercise Price Per Share   Weighted Average Remaining Contractual Life (Years)   Aggregate Intrinsic Value 
$0.001    90,000   $0.001    0.95   $43,110    90,000   $0.001    0.95   $43,110 
 0.05    3,000    0.05    0.75    1,292    3,000    0.05    0.75    1,292 
 0.15    90,000    0.15    0.33    29,340    90,000    0.15    0.33    29,340 
 0.18    45,000    0.18    0.83    13,680    45,000    0.18    0.83    13,680 
 0.19    45,000    0.19    1.33    13,185    45,000    0.19    1.33    13,185 
 0.20    48,000    0.20    1.04    13,446    48,000    0.20    1.04    13,446 
 0.32    3,000    0.32    0.25    467    3,000    0.32    0.25    467 
 0.95    200,000    0.95    1.26        200,000    0.95    1.26     
$0.001-0.95    524,000   $0.44    0.99   $114,519    524,000   $0.44    0.99   $114,519