STOCKHOLDERS’ EQUITY (Tables)

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

SCHEDULE OF BLACK-SCHOLES OPTION PRICING MODEL

	March 31, 2024			March 31, 2023
Expected volatility		145.69% – 191.10	%		319.95% – 457.74	%
Risk-free interest rate		3.78% – 4.79	%		1.44% – 2.56	%
Stock price on date of grant		$31.28 –$31.28			$0.75 – $6.4125
Dividend yield		0.00	%		0.00	%
Illiquidity discount		-	%		75	%
Expected term		1 to 5 years			4.8 to 5 years

SCHEDULE OF COMMON STOCK OUTSTANDING

Changes in common stock options for the three months ended March 31, 2024 and 2023 were as follows:

	Number of Options Outstanding and Vested		Weighted Average Exercise Price		Remaining Contractual Life (Years)		Aggregated Intrinsic Value
Outstanding and vested, January 1, 2024		50,667	$	15.9474		2.15	$	1,228,972
Issued (1)		429,996		0.0077
Outstanding and vested, March 31, 2024		480,664	$	1.6879		8.41	$	7,488,784

	Number of Options Outstanding and Vested		Weighted Average Exercise Price		Remaining Contractual Life (Years)		Aggregated Intrinsic Value
Outstanding and vested, January 1, 2023		178,672	$	0.1219		1.55	$	1,228,922
Issued (2)		40,000		7.00
Outstanding and vested, March 31, 2023		218,672	$	1.3801		1.59	$	3,483,431

1)	In the three months ended March 31, 2024, 429,996 common stock options were issued with a grant date fair value of $13,447,502.
2)	In the three months ended March 31, 2023, 40,000 common stock options were issued with a grant date fair value of $121,925.

SCHEDULE OF OPTIONS FAIR VALUE ASSUMPTIONS

	March 31, 2023
Expected volatility		140.04% – 154.42	%
Risk-free interest rate		3.42% - 3.99	%
Stock price on date of grant		$7.00 - $13.35
Dividend yield		0.00	%
Illiquidity discount		75	%
Expected term		5 years

SCHEDULE OF PREFERRED STOCK

Changes in Series D preferred stock options for the three months ended March 31, 2023 were as follows:

	Number of Options Outstanding and Vested		Weighted Average Exercise Price(a)		Remaining Contractual Life (Years)		Aggregated Intrinsic Value
Outstanding and vested, January 1, 2023		72,000	$	0.10		8.94	$	6,712,800
Issued (1)		9,000		0.10
Outstanding and vested, March 31, 2023		81,000	$	0.10		8.82	$	19,840,200

(a) Represents the exercise price required to purchase one share of Series D Stock, which is convertible into 13 and 1/3 shares of common stock at any time at the election of the holder.

1) In the three months ended March 31, 2023, 9,000 Series D preferred stock options were issued with a total grant date fair value of $267,259.

SCHEDULE OF WARRANT ASSUMPTION

	March 31, 2023
Expected volatility		127.17	%
Risk-free interest rate		3.54	%
Stock price on date of grant	$	8.10
Dividend yield		0.00	%
Expected term		5 years

SCHEDULE OF WARRANT ACTIVITY

Changes in common stock purchase warrants for the three months ended March 31, 2024 and March 31, 2023 were as follows:

	Number of Warrants Outstanding and Vested		Weighted Average Exercise Price		Weighted Average Contractual Life (Years)		Aggregated Intrinsic Value
Outstanding and vested, January 1, 2024		55,671	$	10.6087		1.34-	$	1,152,654.00
Outstanding and vested, March 31, 2024		55,671	$	10.6087		1.10	$	402,668.00

	Number of Warrants Outstanding and Vested		Weighted Average Exercise Price		Weighted Average Contractual Life (Years)		Aggregated Intrinsic Value
Outstanding and vested, January 1, 2023		321,759	$	12.8634		1.30-	$	-
Warrants issued (1)		33,750		7.50
Outstanding and vested, March 31, 2023		355,509	$	12.3542		1.61	$

1) The warrants issued in the three months ended March 31, 2023 had a total grant date fair value of $147,848.

SCHEDULE OF CHANGE IN RESTRICTED STOCK UNITS

Changes in RSUs for the three months ended March 31, 2024 and March 31, 2023 were as follows:

	Number of RSUs Outstanding
Outstanding at January 1, 2024		1,040,017
Granted (1)		6,000
Vested (2)		(6,000	)
Expired (3)		(10,000	)
Outstanding at March 31, 2024		1,030,017

	Number of RSUs Outstanding
Outstanding at January 1, 2023	-
Granted (4)		133,021
Vested (5)		(32,002	)
Outstanding at March 31, 2023		101,019

1)	6,000 RSUs vested immediately upon grant and were issued with a total grant date fair value of $105,097 as measured at $17.52/share using the Company’s 20-day volume weighted average price trailing to the date the RSU was granted.
2)	6,000 RSUs vested and were settled through the issuance of 6,000 shares of Common Stock.
3)	10,000 RSUs were cancelled without vesting since the performance conditions for vesting were not met.
4)	133,021 RSUs were granted to directors, officers, and consultants of the Company, with a total grant date fair value of $1,002,449 as measured at $7.54/share using the Company’s 20-day volume weighted average price trailing to the date the RSU was granted, as follows: (i) 53,257 RSUs which immediately vested upon grant, (ii) 63,764 RSUs with time-based vesting in equal annual installments over three years, and (iii) 16,000 RSUs with time-based vesting in equal annual installments over four years.
5)	32,002 RSUs vested and were settled through the issuance of 32,002 shares of Common Stock.