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STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2024
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]  
SCHEDULE OF RESTRICTED STOCK UNITS GRANTED

Below is a table summarizing all the RSUs grants to employees during the period from January 1, 2024 to June 30, 2024:

 

SCHEDULE OF RESTRICTED STOCK UNITS GRANTED

  

 

No. of

Options

Granted

   Vesting Period 

Fair Value at Grant

(in thousands)

 
Employees   50,000   Immediate  $26 
SCHEDULE OF SHARES AND WARRANTS GRANTS TO ADVISORS

 

Date of issue of share or warrant   Reason for issue of share or warrant  Consideration  Exercise price of warrants   Warrant vesting (subject to continued service provided to Company)  Warrant expiry date
January 25, 2024   Consideration for a past debt  164,000 shares of Common Stock           
March 7, 2024   Strategic advisor agreement  500,000 shares of Common Stock and warrants to purchase 500,000 shares of Common Stock  $1.03   One third on March 7, 2024, one third on June 5, 2024, and one third on September 3, 2024.  March 6, 2029
April 18, 2024   Strategic advisor agreement  Warrants to purchase 500,000 shares of Common Stock  $1.03   One third on April 18, 2024, one third on July 18, 2024, and one third on October 18, 2024.  April 17, 2029
April 23, 2024   Strategic advisor agreement  Warrants to purchase 500,000 shares of Common Stock  $1.03   One third on April 16, 2024, one third on July 16, 2024, and one third on October 16, 2024.  April 22, 2029
May 22, 2024   Strategic advisor agreement  Warrants to purchase 475,000 shares of Common Stock  $1.03   One third on May 21, 2024, one third on August 21, 2024, and one third on November 21, 2024.  May 21, 2029

 

   

No. of

Warrants

Granted

   Vesting Period  

Fair Value at Grant

(in thousands)

 
 Warrants    1,975,000    Over a period of six months   $568 
 Shares    664,000    N/A   $326 
SCHEDULE OF WARRANTS GRANTS ASSUMPTIONS

 

   During the Period from January 1, 2024 to June 30, 2024 
Value of one common share   $0.51-$0.84 
Dividend yield   0%
Expected stock price volatility   87%-90% 
Risk free interest rate   4.07%-4.68% 
Expected term (years)   5 
Options Granted To Employees [Member]  
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]  
SCHEDULE OF EMPLOYEE STOCK OWNERSHIP PLAN DISCLOSURES

The table below summarizes the terms of options for the purchase of shares in the Company granted to employees during the period from January 1, 2024 to June 30, 2024:

  

   

 

No. of

Options

Granted

   Exercise Price   Vesting Period 

Fair Value at Grant

(in thousands)

  

Expiration

Period

 
Employees    400,000   $0.50-$0.63   Half quarterly over a period of two years and the rest quarterly over a period of four years  $161    10 years 
SCHEDULE OF STOCK OPTIONS ACTIVITY

The fair valuation of these option grants is based on the following assumptions:

 

SCHEDULE OF STOCK OPTIONS ACTIVITY

   During the Period from January 1, 2024 to June 30, 2024 
Value of one common share   $0.49-$0.63 
Dividend yield   0%
Expected stock price volatility   79%-85%
Risk free interest rate   3.86%-4.28%
Expected term (years)   5.56-6.06