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STOCKHOLDERS’ EQUITY (DEFICIT) (Tables)
6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
SCHEDULE OF COMMON STOCK

The Company issued the following common stock during the six months ended June 30, 2024, and 2023:

 

Transaction Type  Shares Issued   Valuation $   Range of Value
Per Share
 
2024 Equity Transactions               
Common stock issued, pursuant to services provided   2,387,779    6,070,935   $0.83 -1.78 
Common stock issued pursuant to stock at the market offering, net   3,535,067    4,330,295    0.952- 1.64 
                
Common stock issued pursuant to acquisition (1)   1,853,421        –– 

 

Transaction Type  Shares Issued   Valuation $   Range of Value
Per Share
 
2023 Equity Transactions               
Common stock issued, pursuant to services provided   1,389,901    10,638,534   $2.67-3.49 
Common stock issued pursuant to stock at the market offering, net   2,984,308    7,446,274    2.55-3.25 
Common stock issued pursuant to conversion of preferred stock   880,400    220,099    0.25 
Common stock issued pursuant to acquisition   1,923,285    7,327,716    3.81 
Common stock issued pursuant to extinguishment of debt   574,713    2,040,231    3.55 

 

  (1) Common stock issued pursuant to the acquisition consists of shares issued in April 2024 pursuant to the acquisition of Belami. The value of the shares issued in April 2024 was reflected in the common stock and additional paid-in capital at the date of acquisition in 2023.
 
SCHEDULE OF PREFERRED STOCK ACTIVITY

The following is a summary of the Company’s Preferred Stock activity during the six months ended June 30, 2023:

 

Transaction Type  Quantity   Carrying Value   Value per Share 
Preferred Stock Balance at January 1, 2023   880,400   $220,099   $0.25 
2023 Preferred Stock redemptions   880,400    220,099    0.25 
Preferred Stock Balance at June 30, 2023      $   $ 
SCHEDULE OF STOCK OPTION ACTIVITY

The following is a summary of the Company’s stock option activity during the six-month ended June 30, 2024, and 2023:

 

Options  Shares  

Weighted

Average

Exercise Price

  

Weighted

Average

Remaining

Contractual

Life

(In Years)

  

Aggregate

Intrinsic

Value

 
Outstanding, January 1, 2024   35,805,976   $7.33    ––   $1,017,750 
Exercised       ––    ––    –– 
Granted   1,481,000    1.23    ––    –– 
Forfeited   (440,500)   2.21         
Awards expired   -  $-    -    - 
Outstanding, June 30, 2024   36,846,476   $7.14    2.58   $1,029,750 
                     
Exercisable, June 30, 2024   14,442,850   $4.50    2.07   $1,017,750 

 

 

Options  Shares  

Weighted

Average

Exercise Price

  

Weighted

Average

Remaining

Contractual

Life

(In Years)

  

Aggregate

Intrinsic

Value

 
Outstanding, January 1, 2023   33,289,250   $7.7    -   $6,472,400 
Awards Granted in Period   1,370,150    3.3    -    - 
                     
Awards expired   (425,500)  $4.0    -    - 
                  
Outstanding, June 30, 2023   34,233,900   $7.6    3.15   $6,472,400 
                     
Exercisable, June 30, 2023   12,847,747   $4.4    1.92   $6,472,400 
SCHEDULE OF BLACK SCHOLES PRICING MODEL

The following table summarizes the range of the Black Scholes pricing model assumptions used by the Company during the six months ended June 30, 2024 and 2023:

 

    June 30, 2024    June 30, 2023 
    Range     Range 
Stock price  $0.92 - 1.76   $3.74-3.84 
Exercise price  $0.92 - 1.68   $3.74-3.84 
Expected life (in years)   2.57- 3.50 yrs.    3.5-5 yrs. 
Volatility   36 - 90%   48-54%
Risk-fee interest rate   4.10 - 4.62%   3.51-5.02%
Dividend yield        
SCHEDULE OF WARRANT ACTIVITY

The following is a summary of the Company’s warrant activity during the six months ended June 30, 2024 and 2023:

 

  

Number of

Warrants

  

Weighted Average

Exercise Price

 
Balance, January 1, 2024   2,063,522   $5.76 
Issued        
Exercised        
Forfeited   (229,331)   9.94 
Balance, June 30, 2024   1,834,191   $5.25 

 

 

  

Number of

Warrants

  

Weighted Average

Exercise Price

 
Balance, January 1, 2023   671,855   $11.5 
Issued   1,391,667    3.0 
Exercised        
Forfeited        
Balance, June 30, 2023   2,063,522   $5.76 
SCHEDULE OF NON-VESTED RESTRICTED STOCK

A summary of the Company’s non-vested restricted stock units during the six months ended June 30, 2024 and 2023 are as follows:

 

   Shares   Weighted Average Grant Due Fair Value 
Non-vested restricted stock units, January 1, 2024  $4,919,702   $4.21 
Granted   2,238,480    1.16 
Vested   (2,556,393)   2.9 
Forfeited   (22,334)   1.45 
Non-Vested restricted stock units, June 30, 2024   4,579,455    3.46 
           
Non-vested restricted stock units, January 1, 2023   2,516,461    8.39 
Granted   2,955,900    3.08 
Vested   (1,689,901)   5.27 
Forfeited   (227,891)   10.71 
Non-vested restricted stock units on June 30, 2023   3,554,569    5.27