STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2021

Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]

SCHEDULE OF STOCK OPTIONS, VALUATION ASSUMPTIONS

	Years Ended December 31,
	2021			2020
Value of one common share	$	2.96		$	2.99-$6.84
Dividend yield		0	%		0	%
Expected stock price volatility		145	%		86%-89%
Risk free interest rate		1.47	%		0.73%-1.12%
Expected term (years)		10			10

Options Granted to Employees [Member]

Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]

SCHEDULE OF EMPLOYEE STOCK OWNERSHIP PLAN DISCLOSURES

Below is a table summarizing all of the options grants to employees and Directors made during the years ended December 31, 2021, and December 31, 2020:

	Year Ended	No. of options granted		Exercise price		Vesting period	Fair value at grant (in thousands)		Expiration period
Employees	December 31, 2021		277,000	$	2.96-$5.12	Quarterly over a period of two years	$	812	10 years
Directors	December 31, 2021		84,650	$	2.89	On the one-year anniversary	$	149	10 years
Employees	December 31, 2020		531,450	$	2.99-$6.84	Quarterly over a period of two years	$	1,312	10 years
Directors	December 31,2020		145,050	$	2.99-$4.7	96% on the one-year anniversary, and the remaining 4% in three equal instalments on the first, second and third year anniversaries	$	377	10 years

SCHEDULE OF STOCK OPTIONS, VALUATION ASSUMPTIONS

	Years Ended December 31,
	2021			2020
Value of one common share		$2.89-$5.12			$2.99-$6.84
Dividend yield		0	%		0	%
Expected stock price volatility		71%-77	%		80%-86	%
Risk free interest rate		0.96%-1.34	%		0.36%-1.71	%
Expected term (years)		5.5-5.56			5.50-6.00

SCHEDULE OF STOCK OPTIONS ACTIVITY

A summary of the Company’s stock options granted to employees and directors as of December 31, 2021 and December 31, 2020 is presented below:

	Years Ended December 31
	2021					2020
	Number of Options			Weighted Average Exercise Price $		Number of Options			Weighted Average Exercise Price $
Options outstanding at the beginning of the period		2,917,667			4.05		2,465,522			4.44
Changes during the period:
Granted		361,650			4.19		676,500			3.74
Exercised		*(13,750	)		4.63		-			-
Expired		(20,813	)		5.67		(11,876	)		7.88
Forfeited		(34,749	)		4.67		(57,042	)		4.52
Cancelled		-			-		(155,437	)		8.38
Options outstanding at end of the period		3,210,005			4.05		2,917,667			4.05
Options exercisable at end of the period		2,777,563			4.00		2,299,937			4.03

SCHEDULE OF STOCK OPTIONS EXERCISABLE

The following table presents summary information concerning the options granted and exercisable to employees and directors outstanding as of December 31, 2021 (in thousands, except per share data):

Exercise Price $		Number of Outstanding Options		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value $		Number of Exercisable Options		Aggregate Exercisable Options Value $
						(in thousands)				(in thousands)
	0.0012		230,189		2.64		663		230,189		-
	0.012		510,017		0.09		1,463		510,017		6
	2.89		84,650		9.96		-		-		-
	2.96		63,500		9.96		-		-		-
	2.99		432,200		8.15		-		431,638		1,291
	3.14		2,500		7.91		-		2,500		8
	4.42		50,000		5.93		-		50,000		221
	4.5		34,000		7.17		-		34,000		153
	4.6		174,800		8.68		-		112,488		517
	4.7		6,250		8.03		-		2,083		10
	4.8		483,337		4.94		-		483,337		2,320
	5.02		78,500		9.71		-		-		-
	5.07		52,500		7.00		-		52,500		266
	5.1		60,500		8.34		-		44,750		228
	5.99		327,050		6.61		-		297,425		1,782
	6		16,667		2.59		-		16,667		100
	6.84		15,125		6.79		-		12,453		85
	7.2		83,334		5.43		-		83,334		600
	8.36		250,001		6.50		-		250,001		2,090
	8.91		15,000		6.46		-		15,000		134
	9		20,834		1.54		-		20,834		187
	9.48		58,908		0.52		-		58,908		558
	10.2		39,267		0.42		-		39,267		401
			3,210,005		5.45		2,126		2,777,563		11,111

Options granted to non employees [Member]

Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]

SCHEDULE OF STOCK OPTIONS ACTIVITY

A summary of the Company’s stock options granted to consultants and service providers as of December 31, 2021, and December 31, 2020 is presented below:

	Years Ended December 31,
	2021					2020
	Number of Options			Weighted Average Exercise Price $		Number of Options			Weighted Average Exercise Price $
Options outstanding at the beginning of the year		549,141			5.89		598,310			5.76
Changes during the year:
Granted		7,500			2.96		62,500			3.97
Exercised		-			-		(83,334	)		3.60
Forfeited		(8,950	)		3.88		(8,335	)		5.99
Cancelled		-			-		(20,000	)		5.30
Options outstanding at end of the year		547,691			5.89		549,141			5.89
Options exercisable at end of the year		467,689			6.20		450,972			6.28

SCHEDULE OF STOCK OPTIONS EXERCISABLE

The following table presents summary information concerning the options granted and exercisable to consultants and service providers outstanding as of December 31, 2021 (in thousands, except per share data):

Exercise Price $		Number of Outstanding Options		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value* $		Number of Exercisable Options		Aggregate Exercisable Options Value $
							(in thousands)				(in thousands)
	2.96		7,500		9.96		-		-		-
	2.99		35,000		8.22		-		-		-
	3.14		11,250		7.91		-		11,250		35
	3.36		136,775		4.32		-		136,775		459
	4.09		25,000		7.76		-		25,000		102
	4.42		5,125		5.93		-		5,125		23
	4.5		13,335		7.53		-		5,000		23
	4.6		20,000		8.96		-		4,000		18
	4.8		16,668		4.94		-		16,668		80
	5.07		5,000		7.19		-		1,000		5
	5.3		15,000		6.70		-		15,000		80
	5.99		16,670		6.81		-		16,670		100
	6		90,000		2.59		-		90,000		540
	6.84		7,500		8.38		-		-		-
	7		70,000		7.83		-		70,000		490
	7.32		8,334		0.89		-		8,334		61
	8.34		8,600		6.52		-		8,600		72
	8.43		8,333		6.05		-		6,666		56
	11.52		8,334		1.26		-		8,334		96
	16.8		39,267		0.28		-		39,267		660
			547,691		5.22		-		467,689		2,900

SCHEDULE OF STOCK OPTIONS GRANTED TO CONSULTANTS

Below is a table summarizing all the compensation granted to consultants and service providers during the years ended December 31, 2021 and December 31, 2020:

	Year of grant	No. of options granted		Exercise price		Vesting period	Fair value at grant (in thousands)		Expiration period
Non-employees	2021		7,500	$	2.96	Quarterly over a period of two years	$	22	10 years
Non-employees	2020		62,500	$	2.99-$6.84	Quarterly over a period of two years	$	209	10 years